The State Bank of Vietnam targets 12% lending growth for 2021, almost unchanged from 2020 growth at 12.13%, Deputy Governor Dao Minh Tu told Thursday conference in Ho Chi Minh City.
The US administration on Friday said Vietnam’s actions to push down the value of its currency are “unreasonable” and restrict U.S. commerce, but did not take immediate action to impose punitive tariffs.
Vietnam has surpassed Germany to become China's sixth largest trading partner, marking a positive achievement in trade relations between both sides, according to data from the General Administration of Customs of China.
Southeast Asia’s economic growth will rebound to 6.2 percent in 2021 with Vietnam achieving 8 percent growth, Vietnam News cited latest economic outlook report from Oxford Economics.
- U.S. says Vietnam's currency actions 'unreasonable' but holds off on tariffs 1
- Vietnam surpasses Germany to become sixth largest trading partner of China 2
- Vietnam's GDP to grow by 8 percent in 2021 3
- Vietnam’s economy expected to grow 7.6% in 2021 on successful COVID-19 containment: HSBC 4
- Vietnam 2020 trade surplus widens to nearly $20 billion despite pandemic 5
- Vietnam says 2020 fiscal deficits below 4% of GDP, public debt under control 6
Despite lingering headwinds, Vietnam’s GDP is expected to grow 7.6 percent in 2021 thanks to the benefit from numerous FTAs, consistent FDI inflows and a tech-led recovery, according to a HSBC report.
Vietnam recorded a trade surplus of $19.95 billion last year, widening from a surplus of $11.1 billion in 2019, customs data released on Wednesday showed.
Vietnam performed well in controlling public debt, which was under the allowed limit and the budget overspending rate was 4%of GDP in 2020, Prime Minister Nguyen Xuan Phuc told an online conference.
The manufacturing and processing sector creates more than 300,000 new jobs every year, contributing much to the country’s economic development, according to a report from the Ministry of Industry and Trade.
Fitch Solutions maintain forecast for Vietnam’s 2021 budget deficit (excluding debt repayment) to be 3.6 percent of gross domestic product, slightly lower than the government’s 4 percent estimate.
Vietnam's GDP is expected to grow by 6.8 percent in 2021, thanks to the country's success in controlling the COVID-19 pandemic, Country Director of The World Bank in Vietnam Carolyn Turk said.
Vietnamese businesses are pushing back against investigations by the United States into its timber industry and currency management that threaten to wipe out Vietnam’s huge gains from the US-China trade war.
American companies on Tuesday urged the United States Trade Representative (USTR) to drop an investigation into Vietnam’s currency practices that could lead to tariffs on a wide range of Vietnam goods.
Foreign investment from new capital registration, capital adjustment, share purchasing in 2020 was seen at $28.53 billion, down 25 percent from a year ago, according to the Ministry of Planning and Investment.
Vietnamese economy will enjoy spectacular growth over the coming 15 years, rising 18 notches to 19th position by 2035, according to the Centre for Economics and Business Research.
Vietnam government is striving for an economic growth of 6.5% in 2021, 0.5ppt more than its official growth target of 6% for 2021, PM Nguyen Xuan Phuc told a conference in Hanoi.
Vietnam has estimated a trade surplus of $19.1 billion in 2020, with bilateral trade revenue was seen at $543.9 billion, according to data from the General Statistics Office.