Economy

Vietnam’s five-month credit growth falls to six-year low at 1.96% on virus

Credit growth from end-2019 to May 29 fell to 1.96%, lowest since 2014 due to low borrowing demand when most businesses were hit by COVID-19 pandemic, central bank said on Friday.

Vietnam may surpass Thailand in global rice export in 2020

Vietnam got $395 million in May from exporting 750,000 tons of rice, up 11.7%, largely thanks to the increasing price and the government's export quota removal, Ministry of Industry and Trade said.

US values Vietnam partnership for supply chain links

The U.S. regards Vietnam a priority partner in upcoming Mekong Subregion projects, including development of strategic products within its supply chain, officials say.

PM targets powerful, prosperous status for southern key economic region by ...

Prime Minister Nguyen Xuan Phuc on May 30 requested the southern key economic region to strive to become a powerful and prosperous region by 2035, ten years ahead of the deadline.

Vietnam posts $1.9 billion trade surplus during the Jan.-May period

Despite impacts from coronavirus, Vietnam reported a trade surplus of $1.9 billion during the first five-month period, the General Statistics Office said in the latest data released on Friday.

Singapore remains biggest investor in Vietnam during Jan-May

Singapore retained its position as the biggest foreign investor in Vietnam in the first five months of 2020 with $4.3 billion, accounting for 58 percent of the total foreign FDI flow.

Vietnam’s May inflation rate seen 0.03% lower from previous month

The CPI in May seen to fall by 0.03% from April and by 1.24% compared to December 2019, the lowest since 2016, according to data from the General Statistics Office on Friday.

Vietnam suffers FDI drop of 8.2% to $6.7 billion in Jan.-May period

Vietnam received $6.7 billion in FDI in the first five months of 2020, down 8.2% from a year ago, according to data released by Ministry of Planning and Investment on Tuesday.

PM Phuc says Vietnam’s 2020 economic growth could slow to 4-5%

Vietnam is striving for a GDP growth of 4-5% this year from previously targeted 6.8% due to coronavirus which has been hurting the global economy, PM Nguyen Xuan Phuc told foreign media.

EU trade pact could add 3.25% to Vietnam’s GDP during next five years

Implementation of the Vietnam-EU Free Trade Agreement is expected to boost Vietnam’s GDP by 2.18% to 3.25% over the next five years, Vice President Dang Thi Ngoc Thinh told legislators on Wednesday.

Exports to several markets rise in first 4 months despite COVID-19

The Ministry of Industry and Trade will ensure a dual goal of preventing disease, while stabilizing production, and boosting export, Minister of Industry and Trade Tran Tuan Anh said.

Vietnam slashes 2020 economic growth target to 4.5% on virus pressure

The government proposed the National Assembly to lower 2020 GDP growth to 4.5%, down 2.3 percentage points from the previous target.

Vietnam says 2020 budget deficit seen widening to over $10bln from $8.7bln on ...

2020 budget deficit of Vietnam could widen to over $10 billion from $8.7 billion deficit in 2019 as the economy was badly hit by the coronavirus outbreak, the government reported to legislators.

Vietnam central bank seen to further cut policy interest rate this ...

Vietnam central is expected to cut interest rates the third time in 2020 in light of weak economic outlook while the country is still targeting growth of above 5%, Fitch Solutions forecast.

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Economy

Vietnam reports Jan.-May trade surplus at $3.5 billion despite pandemic

EU – Vietnam Free Trade Agreement expected to take effect on August 1

Vietnam ratifies EU trade pact, accelerating growth amid COVID-19 pandemic