The Economist Intelligence Unit (EIU) under The Economist Group forecasted an upbeat prospect for Vietnam’s economy with a gross domestic product growth rate expected to stand at 6.8 percent in 2016.
Hanoi (VNA) - The Economist Intelligenceඣ Unit (EIU)- an independent business within The Economist Group forecasted an upbeat prospect for Vietnam’s economy with a gross domestic product growth rate expected to stand at 6.8 percent in 2016.
The EIU’s prognosis was spurred by Vietnam’s rational inflation rate level. The EIU said that a reduction of inflationary pressure will create favourable conditions for Vietnam to carry out numerous monetary and financial policies.
In addition, Vietnam will see vibrant investment activities in the year. Additional capital flow will pour into the country thanks to the various free trade agreements (FTAs) negotiated throughout 2015, according to the EIU.
The EIU also predicted that the Southeast Asian region will be one of the regions with the fastest economic growth worldwide. ASEAN member states’ average GDP growth rate is expected to rise up to 4.6 percent from 4.3 percent in 2015.
Vietnam and the Philippines will enjoy impressive growth of more than 6 percent this year. Indonesia and Malaysia’s GDP growth rates are expected at 4-5 percent while Thailand and Singapore are likely to face difficulties with slow growth.-VNA
Prime Minister Nguyen Tan Dung proposed the US quickly recognise Vietnam’s market economy status while meeting with US Trade Representative, Ambassador Michael Froman.
Vietnam has seen clear progress this year in many areas like banking sector reforms, capital markets and foreign investment. Economist Vu Dinh Anh speaks with Vietnam News Agency about this.
Vietnam has emerged from a backward country with 90 percent of its population working in the agricultural sector, to one that is well on its way towardsindustrialisation and modernisation.
Vietnam’s gross domestic product (GDP) is forecasted to expand 6.82 percent in 2016, according to the macroeconomic report for quarter IV, the whole year of 2015 and the outlook for 2016.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Illustrative photo (Photo: VNA)
