Update news vietnam economy
The increase in input costs plus the decline in demand in many large markets are posing challenges to businesses in the last months of the year.
Vietnam has the potential to become a new tiger in Asia, economist Brian Lee Shun Rong at Maybank - Malaysia's largest financial services group and the leading banking group in South East Asia – has reportedly said.
Vietnam and the Southeast Asian region have managed to maintain economic stability and growth despite COVID-19 and the Russia-Ukraine conflict, according to experts.
That is the message and guideline of Minister of Planning and Investment Nguyen Chi Dung at the national conference on how to sustainably develop.
Vietnam will need a skilled workforce to transform itself into an upper-middle-income economy by 2035, the World Bank has suggested in its recently-released report named “Taking Stock: Educate to Grow”.
The lack of many highly qualified human resources leads to low labor productivity, hindrances for production expansion, and meeting of customer demands, affecting overall business results.
Capital reallocation plans announced by multinational corporations will offer opportunities for Vietnam to attract foreign direct investment, experts said.
Vietnam’s economy is estimated to grow by 6.42% in the first half of 2022, higher than expected, heard a Government teleconference on July 4.
Right now, Vietnam is full of promise. The recent ratings upgrade by S&P Global makes it likely that the country will be the next “rising star”, referring to the achievement of its first investment grade rating in the next few years.
Chairman of Hoa Phat Group Tran Dinh Long and Chairman of Thaco Group Tran Ba Duong are the two Vietnamese USD billionaires in 2022 who work in the manufacturing industry.
The building of an independent and self-reliant economy associated with extensive international integration needs to start from businesses, especially private ones, in order to increase resilience and improve internal forces.
Vietnam’s gross domestic product (GDP) reached approximately US$368 billion in 2021, making it the fifth-largest economy in Southeast Asia and 41st in the world, the International Monetary Fund (IMF) World Economic Outlook has revealed.
Due to the slow progress of equitization, the scale of state-owned enterprises (SOEs) in the economy is still very large, accounted for 7% of total assets and 10% of equity of all enterprises in the market.
The 4th Vietnam Economic Forum has affirmed the correct and effective policy of the Party and State on pursuing Doi Moi, building an independent, self-reliant economy in combination with proactive and active international integration.