Vietnam economy has become a shining star during Covid since it has minimized the damages from the crisis and is the only country in South East Asia to report growth this year.
The monetary policy of the Vietnam government is not intended to create an unfair trade, the State Bank of Vietnam said after the Trump administration officially labeled Vietnam as as currency manipulator.
Vietnam’s trade surplus in November significantly narrowed to $546 million from $2.94 billion in October, government customs data released on Monday showed.
ADB has raised Vietnam’s economic growth forecast to 2.3 percent from 1.8 percent thanks to the promotion of public investment, the recovery of domestic consumption, the increase in trade exchanges.
- Vietnam’s State budget expected to rise by 8.3 percent in 2022 1
- Eight-month credit in Hanoi rises 8.3 percent 2
- Vietnam: strong exports carry weight of potential risks 3
- Vietnam’s FDI inflows slightly fall to $19 billion in eight months 4
- Vietnam strives to keep CPI growth low by end of 2021 5
- Exports up 25.5 pct in seven months 6
The Government has spent VND17.9 trillion ($780 million) on fighting Covid-19 and supporting people affected by the pandemic, according to the Ministry of Finance.
The success story in Covid-19 fight could be the key for Vietnam to win trust from the international community, including foreign investors, in the post-Covid-19 period.
Vietnam may earn $8.6 billion from exporting aquatic products this year, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
Trade surplus in November plunged to $600 million from a $2.9 billion surplus in October, according to data from General Statistics Office.
The Regional Comprehensive Economic Partnership, which was signed between China and 14 countries, the world's largest trade pact, is seen as a catalyst for Asia to retain growth momentum, HSBC leader said.
The economy’s credit grew 7.26 percent as of November 17, according to Deputy Governor of the State Bank of Vietnam Dao Minh Tu, who talked during a recent conference in Hanoi.
China has become the first country to have a bilateral trade value of $100 billion with Vietnam this year.
Vietnam, one of the world’s fastest-growing economy in 2020, is expected to enjoy 2.4 percent this year, up 0.8 percentage point compared to previous forecast, the International Monetary Fund has said.
Vietnam reported a trade surplus of $19.5 billion in 10-month period, up from $9 billion surplus of the same period in 2019, according to data released by General Department of Customs.
The Regional Comprehensive Economic Partnership will give the Vietnamese economy access to a further one-third of the world’s population and attendant opportunities for export growth.
Vietnam’s first woman to become central bank governor has the expertise and experience, but she takes the helm at a tough time.
The Southeast Asian economy garnered $1.2 trillion in gross domestic product during the last five years, Prime Minister Nguyen Xuan Phuc told legislators during a National Meeting held in Hanoi.