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Vietnam

Vietnam’s economic growth exceeds set target at 6.8%

The gross domestic product (GDP) growth in 2017 is estimated to expand by 6.81 percent, surpassing the Government’s set target of 6.7 percent.

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General Director of the General Statistics Office (GSO) Nguyen Bich Lam revealed the information at a press conference in Hanoi on December 27 to announce socio-economic indexes in 2017.

The agro-forestry-fishery sector is expected to increase by 2.9 percent, contributing 0.4 percentage points to the 6.81 percent GDP growth level

The country’s GDP grew quarterly, with 5.15 percent in Q1, 6.28 percent in Q2, 7.46 percent in Q3, and 7.65 percent in Q4.

The agro-forestry-fishery sector is expected to increase by 2.9 percent, contributing 0.4 percentage points to the 6.81 percent GDP growth level. The industrial and construction sector posted an 8 percent growth rate, contributing 2.77 percentage points whilst the service industry climbed by 7.44 percent, contributing 2.87 percentage points.

Lam said Vietnam’s socio-economic affairs 2017 took place in the context of steady recovery and growth of major economies such as China, the US, Japan, the Republic of Korea (RoK) and the European Union (EU).

The World Bank has forecast the global GDP would stand at 3 percent, while the International Monetary Fund (IMF) anticipated a growth of 3.6 percent this year, he noted.

Global trade activities also witnessed improvements. In September 2017, the World Trade Organisation (WTO) increased its forecast for global trade in 2017 to 3.6 percent, higher than the previous level of 2.4 percent and much higher than the growth of 1.3 percent in 2016.

They are active factors for domestic production since Vietnam has been integrating more extensively and intensively into the world’s economy, Lam explained.

He noted that inflation was curbed below the set target of the National Assembly. The country recorded high credit growth, abundant remittances and foreign direct investment (FDI), stable exchange rate, and increasing foreign exchange reserves.

Vietnam continued focusing on economic restructuring to increase competitiveness, improve the business environment, and promote start-up movements.

However, the country faced certain difficulties such as a strong reduction in farm produce and food prices, which had…

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Investment

Vietnam sustains FDI growth amid US-China trade war

Japan was the largest source country, with 429 newly granted FDI projects totalling $8.5bn, MPI figures show

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Strong FDI figures in 2018 mark the sixth straight record year, following a string of strong realised FDI capital figures, estimated at $17.5bn in 2016, $15.8bn in 2015 and $14.5bn in 2014.

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Asean

ASEAN seeks measures to push sustainable tourism development

ASEAN members gathered in Vietnamst ouching upon measures to speed up sustainable tourism development.

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Nearly 200 delegates, including leaders of national tourism organizations (NTOs) of ASEAN members and the regional groupings partners gathered in Vietnams northern Quang Ninh province on Monday, touching upon measures to speed up sustainable tourism development.

Addressing the meeting, Nguyen Trung Khanh, general director of the Vietnam National Administration of Tourism, said tourism sector makes contributions to better political and cultural understanding, and closer bilateral and multilateral cooperation not only among regional countries, but also among nations in the world.

At the 49th meeting of NTOs of countries of the Association of Southeast Asian Nations (ASEAN) which opened on Monday in Quang Ninhs Ha Long city, the delegates also highlighted contributions of tourism sector to gross domestic product.

Thailand Is Second Most Visited Country In Asia

Thailand attracted second highest number of tourists in the region with 32.58 million visitors in 2016

The Asia Pacific region accounts for 30 per cent of the world’s international tourism receipts

But Bangkok has been engulfed by smog for the past few days, raising questions about how seriously the authorities are taking the air pollution problem in the Thai capital.

Experts warn of the threat to public health if the unhealthy air quality levels persist, urging authorities to enforce mitigation measures to protect people’s health

It has been almost a week since the PM2.5 level in Bangkok rose significantly, forming a thick layer of smog over the city, but authorities are still scrambling to find solutions to help ease the problem

Spraying water over Greater Bangkok’s sky, trying to produce artificial rain haven’t brought any significant results so far.

The Asia Pacific region has outperformed all other regions in terms of growth, with international tourist arrivals increasing an average 7% per year compared to the world average of 4%.

The Asia Pacific region accounts for 30 per cent of the world’s international tourism receipts.

Thailand attracted second highest number of tourists in the region with 32.58 million visitors in 2016.

Source : English.news.cn

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Banking

Moody’s upgrades Vietnam’s ratings to Ba3 and changes outlook to stable

Moody’s Investors Service (“Moody’s”) has today upgraded the Government of Vietnam’s long-term issuer and senior unsecured ratings to Ba3 from B1 and changed the outlook to stable from positive

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Moody’s Investors Service (“Moody’s”) has today upgraded the Government of Vietnam’s long-term issuer and senior unsecured ratings to Ba3 from B1 and changed the outlook to stable from positive. (more…)


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