For the past three decades, Vietnam has known only good -- or great -- economic news. Still, Vietnam's economy is less exposed than other tourism-dependent countries in the region such as Thailand, where the IMF predicts the economy to slump by 7.1 per cent this year. The largest industries here are services which make up 49.75% of the GDP, industry which makes up 33.25%, and agriculture which makes up 17% of GDP. Regardless of the impact of the COVID-19 pandemic, Vietnam is forecast to be one of the fastest-growing economies in Southeast Asia. Home / News. Although Vietnam lacks the health infrastructure of many wealthier countries, it has been widely praised for its public health measures, which quickly brought numbers under control. Vietnamese experts' estimates are below those of several international organizations. After three decades of growth that lifted millions out of poverty, Vietnam's economy is undergoing another transformation -- thanks to technology. The IMF is predicting a strong economic recovery in 2021, with growth projected to strengthen to 6.5% “as normalisation of domestic and foreign economic activity continues.”. CNN speaks to Vietnam… Vietnam’s rapidly growing pharmaceutical industry has been a magnet for foreign firms. HANOI, Nov 20 ― Vietnam is shaping up as Southeast Asia's single economic success story in the coronavirus era, maintaining steady positive growth as other economies struggle to recover, reported Vietnam News Agency (VNA) citing Nikkei Asia report yesterday. Well that’s a much more urgent, emotionally catalysing problem,” he added. Vietnam’s GDP will grow by 2.8 and 7.1 percent in 2020 and 2021, United Overseas Bank has forecast. The ongoing US-China trade war has also made China a less attractive place to manufacture, with a number of tariffs in place on exports. Sorry, no headlines or news topics were found. VideoHow a girl's fairy house sparked a magical friendship, 'People have Zoom fatigue but it's not our fault', Tech trends in 2021: Fast planes and homeworking. Woman in Da Nang runs shelter for homeless dogs and cats. What happens to your body in extreme heat? All rights reserved. A rebounding economy and a new trade deal are reasons why the outlook for Vietnam is positive despite the coronavirus pandemic, said Edward Teather of UBS Research. In October, industrial production gained steam on a stronger manufacturing sector, while retail sales expanded notably and exports surged. Vietnam recorded decade-low GDP growth of 1.8% in the first half of this year, and expansion is forecast at … © Copyright 1997 - 2020 NewsNow Publishing Limited. Vietnam Economic Outlook. The nation’s consistent growth as an exporter, propelled by Communist leaders who … Vietnam is a member of Asia-Pacific Economic Cooperation, Association of Southeast Asian Nations and the World Trade Organization. Vietnam’s exports to the US have increased by 23% in the first three quarters compared to the same period in 2019, with electronics exports up 26%. 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Vietnam Economy. Monday, December 21, 2020 | 23:59:00 (VOVWORLD) - Vietnam's GDP is forecast to grow 6.8% next year and stabilize at around 6.5% thereafter, according to a report released by the World Bank (WB) on Monday. The economic impact of Covid-19”, although the Vietnamese economy suffered from Covid-19 in the first half of 2020, prospects remain positive in the short and medium term. Current News and the latest top stories in world news. Its economy is expected to … icon 20/12/2020 0. Vietnam has become the fastest growing nation brand, with its value skyrocketing 29 percent to $319 billion in the latest global rankings. At a virtual summit with Vietnamese Prime Minister Nguyen Xuan Phuc, Modi said India looks at its ties with Vietnam with a long-term and strategic perspective. Well, a lot of those products are made in Vietnam,” he told the BBC. (VOVWORLD) - Vietnam's GDP is forecast to grow 6.8% next year and stabilize at around 6.5% thereafter, according to a report released by the World Bank (WB) on Monday. Vietnam has minimised the economic damage from Covid-19 and is the only country in South East Asia on track for growth this year. BUSINESS icon 16/12/2020 Many realty companies reported losses in the first nine months of this year, due to the COVID-19 pandemic, tightening credit measures and legal hindrances. Click to get a sign-in link sent to your email. Vietnam, China co-chair 18th East Asia Forum Vietnam Plus 22:02 10-Dec-20. Video. .css-14iz86j-BoldText{font-weight:bold;}Vietnam has minimised the economic damage from Covid-19 and is the only country in South East Asia on track for growth this year. Please try different keywords. Vietnamese economy to surpass Taiwan's in 2035: Think tank Taiwan News 04:28 11-Dec-20. Still, Vietnam's economy is less exposed than other tourism-dependent countries in the region such as Thailand, where the IMF predicts the economy to slump by 7.1 percent this year. It depends, 1,000 lost on one boat - this woman hopes to name them, Wuhan scientist 'welcomes' visit over lab leak claim, Twitter's copyright policy 'used to silence activists', .css-q4by3k-IconContainer{display:none;height:1em;width:1em;vertical-align:-0.125em;margin-right:0.25em;}playHow a girl's fairy house sparked a magical friendship. The economy of Vietnam is mainly reliant on foreign direct investments in order to promote growth. The economy began the fourth quarter on a robust footing according to available data. GDP growth. Việt Nam national team manager Park Hang-seo was adamant that his star defender Đoàn Văn Hậu's brief loan spell at SC Heerenveen in the Netherlands was positive for both player and country, calling it a "meaningful experience". "This creates additional demand, compensating for Covid and … Vietnam’s economy unexpectedly grew in the second quarter, though at the slowest pace in at least a decade, as exports slumped because of the … Vietnam recorded decade-low GDP growth of 1.8% in the first half of this year, and expansion is forecast at … DataSpeaks . How a girl's fairy house sparked a magical friendship. Vietnam economy continues to strengthen, reports VDSC. “When Covid comes, you thought you had a global supply chain, and you find out that you only have a China supply chain and you can’t produce. Read about our approach to external linking. After completing the course, Vietnamese consultants were selected by the ministry to support quality improvements in production for Vietnamese enterprises in the fields of manufacturing, processing and … News. News. According to the ADB’s Asian Development Outlook 2020 report published on April 3, 2020, Vietnam’s economic growth will decline sharply to 4.8 percent in 2020 but bounce back up to 6.8 percent in 2021, provided the pandemic is contained. Publication Permit: 456/GP-BTTTT dated November 18, 2013. The Vietnamese Embassy in Egypt, in collaboration with the Alexandria Chamber of Commerce, held a workshop on economic and trade potential between the … How Much Should We Worry About Laos’ Debt? The IMF credited “decisive steps to contain the health and economic fallout from COVID-19” for the country’s success. Life. The new target comes as gross domestic product for the export-led Vietnamese economy grew just 0.36% in the second quarter, down sharply from 3.8% in the January to March period. For the past three decades, Vietnam has known only good -- or great -- economic news. 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By Dat Nguyen October 9, 2020 | 03:24 pm GMT+7 Workers make garment products at a factory in the southern province of Long … Vietnam has been a bright spot in Asia from an economic growth perspective for a number of years now. By Alice Philipson and Tran Thi Minh Ha. The report says that Vietnam’s economy will grow 3% this year while the global economy … The report says that Vietnam’s economy will grow 3% this year while the global economy is expected to contract at least … Vietnam… Vietnam: Inflation drops to lowest level since February 2016 in November. Vietnam has ‘plenty of activity’ in its foreign direct investment pipeline: UBS Vietnam is among the “brightest” spots in Asia despite the challenge … The Southeast Asian country has good economic performance to the resilience of both its domestic economy and external sector, World Bank commented. WEBSITE VIETNAM ECONOMIC NEWS - MINISTRY OF INDUSTRY AND TRADE. HCMC - Vietnam achieved a record high trade surplus of US$20.1 billion in the January-November period although the Covid-19 pandemic continues to show complicated developments, challenging the global economy, according to the General Statistics Office. All section. Still, Vietnam's economy is less exposed than other tourism-dependent countries in the region, such as Thailand, where the IMF predicts the economy to slump by 7.1 per cent this year. icon 1 minutes ago 0. icon. Chia sẻ | FaceBook Twitter Email Copy Link 16/12/2020 16:48 GMT+7 ... Other News. ADB revises up Vietnam’s 2020 GDP growth forecast to 2.3% : Thursday, Dec 10, 2020,17:52 (GMT+7) HCMC - The Asian Development Bank (ADB) has revised up Vietnam’s gross domestic product (GDP) growth forecast in 2020 to 2.3% from the previous estimate of 1.8% in September, attributing the upgrade to the strength of accelerated public investment, revived domestic … Following is an overview Vietnam’s economy in the first 9 months of 2020 compiled by VietnamCredit. A 2018 report by Google and Singaporean investment company Temasek described Vietnam's digital economy -- which is growing at more than 40% a year -- … Many multinationals have started operating in Vietnam, including global technology leaders like Apple and Samsung. Travel. A strong response to the coronavirus pandemic, surging exports and healthy public spending have helped Vietnam buck a … In Vietnam, the old age dependency ratio, which compares the number of people 60 and older to 15–59 year-olds, is expected to double in the next 25 years, and replacement rates are around 70 percent, significantly above the 54 percent average for counties in the Organization for Economic Cooperation and Development (OECD). The British bank estimated a three percent increase in GDP in 2020 and 7.8 percent in 2021. The ADB estimates Vietnam’s economy grew by 6.8 percent last year, faster than most similarly sized countries in Asia. Deputy Editor-in-Chief: Dang Thai Anh. EU urges its members to lift UK travel bans, France bans use of drones to police Paris protests, Can pregnant women receive the vaccine? All the latest news in Vietnam - Breaking news and video. The National English language daily, Outlook magazine. - VnExpress International Vietnam Economic News. Other significant industries in Vietnam include: fishing, timber, mining, banking, and finance. November 29, 2020 EU nationals and those transporting goods internationally can return - if they have a recent negative test. The pandemic has also prompted more companies to consider manufacturing there, because of the need to diversify their supply chains, said Mr Kokalari. .css-orcmk8-HeadlineContainer{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-box-pack:justify;-webkit-justify-content:space-between;-ms-flex-pack:justify;justify-content:space-between;}Covid-19: French agree to ease virus travel ban.css-1dedj2h-Rank{-webkit-align-self:center;-ms-flex-item-align:center;align-self:center;color:#B80000;margin-left:3.125rem;}1, Coronavirus: EU urges countries to lift UK travel bans2, Karima Baloch: Pakistani rights activist found dead in Toronto3, Alex Padilla to replace Kamala Harris in US Senate4, Coronavirus spreads to Antarctic research station5, France bans use of drones to police protests in Paris6, Nicola Sturgeon broke Covid rules at funeral7, Widowed penguins hug in award-winning photo8, Giant iceberg A68a shatters into large fragments9, Viral 'butt-less' pyjamas ad sparks confusion10. 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