vietnam economy

Update news vietnam economy

PM urges strengthening of credit growth management

Prime Minister Pham Minh Chinh has written to three government ministers telling them to strengthen credit growth management in a way that helps fuel economic growth.

Vietnam among countries with high economic growth in 10 years

Vietnam, together with China and some other Asian countries, is among the 20 countries with the fastest economic growth over the last 10 years, according to Yahoo Finance.

Extension of economic support scheme needed to boost economic growth

World Bank (WB) experts underlined the need to extend the implementation of the economic support programme next year in order to allow its planned investments to be fully deployed amid the economy facing headwinds.

Enterprises cut forecasts due to gloomy outlook

In the third quarter, the total profit after tax of listed businesses declined by 5 per cent year-on-year after continuously recording a sharp double-digit decrease in the previous three quarters.

Export turnover on track on back of global recovery

Vietnam’s large trade surplus mirrors a gradual recovery in exporter performance and global demand, with hopes that new trade goals can be accomplished next year.

ADB projects 6% GDP growth for Vietnam next year

The Asian Development Bank (ADB) has made its GDP growth forecast for Vietnam in 2024, projecting the rate to remain at 6.0%, according to the Asian Development Outlook (ADO) released on December 13.

Multinational corporations shift supply chains, affecting Vietnamese exports

Multinational corporations are focusing on investing in manufacturing plants in countries such as India, Mexico, Brazil, which increases competitors in Việt Nam’s main export markets.

VCCI says limitation on loan costs harmful to businesses

The regulation on capping enterprises’ loan costs that are considered lawful expenses when defining taxable income has hindered the development of businesses, according to the Vietnam Chamber of Commerce and Industry (VCCI).

Fitch upgrades Vietnam to 'BB+', outlook “Stable”

Fitch Ratings has upgraded Vietnam's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'BB+', from 'BB', with the “Stable” outlook, the Ministry of Finance announced on December 8.

Three economic growth scenarios for Vietnam in 2024

The Central Institute for Economic Management (CIEM) under the Ministry of Planning and Investment, has outlined three potential economic growth scenarios for 2024, with the highest GDP growth rate forecast at 6.5 percent.

Vietnam continues to see improvement in exports: HSBC

November marks the third consecutive month of Viet Nam seeing export growth on a year-on-year basis, noted HSBC in its report Viet Nam at a glance released on December 6.

Enhancing competitiveness vital for VN to climb up global value chain

Enhancing national competitiveness and capacity of domestic enterprises is vital for VN to climb up the global value chain in the new context of globalisation, heard a workshop held by VN Institute for Economic and Policy Research.

Vietnam to post faster growth over other countries in 2023: CIEM

Vietnam may record a GDP growth rate of 5.19% in 2023, lower than the 8.02% expansion last year but still higher than many other countries in the region and the world, the Central Institute for Economic Management (CIEM) predicted.

Vietnamese firms should be cautious to avoid fraud in international trade

Vietnamese firms should use additional caution to avoid increasingly sophisticated scams in international trade, Deputy Director of the Vietnam Trade Promotion Agency Hoan Minh Chien said.

Vietnam effectively exploiting digital economy strengths

Vietnam is enjoying the fastest growth rate of digital economy in Southeast Asia this year, with its compound annual growth rate (CAGR) in the 2022-2023 period of 19 percent. The leading position will continue in the 2023-2025 time.

Vietnam targets 6-6.5% GDP growth in 2024: NA resolution

Vietnam targets 6-6.5% growth in gross domestic product (GDP) and 4,700-4,730 USD in per capita income in 2024, according to a newly-approved National Assembly (NA) resolution.

NA deputies urge new incentives for FDI when global minimum tax is applied

More than 100 countries and jurisdictions joined the framework, including VN, many of which start to adopt the global minimum tax from the...

Market economy status to be launching pad for export growth

The US has officially initiated the changed circumstances review (CCR) to recognize Vietnam as a market economy. The Ministry of Industry and Trade (MOIT) said this is good news which will bring great advantages to the country.

Revival of businesses more achievable through support

Enterprises are in critical need for more support, with a reduction of taxes and fees proposed to be lengthened until the middle of next year.

Plan adoption acknowledges likely issues

Vietnam’s socioeconomic development path for 2024 has taken shape, with a need to devise more schemes to boost industrial production and improve domestic consumption given global ongoing economic difficulties undermining the country’s exports.