Thai Prime Minister Paetongtarn Shinawatra on October 16 officially launched Thailand’s national economic recovery project, aimed at supporting small businesses, easing spending, and reducing living costs.
Party General Secretary To Lam, State President Luong Cuong, Prime Minister Pham Minh Chinh and National Assembly Chairman Tran Thanh Man, and other officials attended an online conference on January 8 connected to all 63 centrally-run cities and provinces across the nation to review operations of the Government and local administrations in 2024 and sketch out tasks for 2025.
Amidst a volatile global economy, Vietnam has had impressive GDP growth of 7.09% in 2024, surpassing forecasts and emerging as a bright spot for growth in the region.
The US-based financial, economic, and stock market news site investing.com said Vietnam's economy demonstrated continued resilience in November, with a substantial trade surplus and growth in exports and imports.
The fertiliser, retail, livestock, banking and logistics sectors are expected to witness significant profit growth in the third quarter (Q3), ranging from 22% to an impressive 1,620%, a recent report has revealed.
The Governor of State Bank of Vietnam (SBV) on September 26 issued Directive No.04/CT-NHNN requesting its credit institutions, foreign bank branches, and banking associations to promptly implement solutions to support people and businesses affected by Typhoon Yagi.
Numerous enterprises have reported rising profits in the first half of the year, with several firms seeing a twofold surge in profits after tax compared to last year. This indicates an economic recovery despite both domestic and international challenges.
Experts warn it is important to develop measures to cope with risk in foreign exchange rates amid slow global economic recovery and geopolitical strife.
Bad debts in the banking system in the first five months of 2024 continued to increase by some 75.9 trillion VND (3 billion USD) against the end of 2023.
Regional connectivity is seen as a key to bolster growth as well as create breakthroughs for the socio-economic development in localities and the country as a whole, according to insiders.
More than 263,160 Vietnamese people visited Laos in the first three months of this year, becoming the second biggest source of foreign visitors to the country during the period, according to the Tourism Development Department of Lao Ministry of Information, Culture, and Tourism.
Production and business activities of domestic enterprises have shown positive signs of recovery. Many enterprises have obtained orders for the second or even the third quarter of 2024.
The Vietnamese economy is forecast to expand at 5.5% in the first quarter of the year as manufacturing and trade regain momentum, according to the United Overseas Bank Limited (UOB).
Thailand’s economic figures in January showed signs of recovery with a rebound evident in tourism, consumption, and exports, though private investments have slowed down, the country’s Fiscal Policy Office (FPO) said.
There are always opportunities amid difficulties, and if they are seized, challenges could become momentum for national development in the new context, said Minister of Planning and Investment Nguyen Chi Dung.
HSBC reports that following a challenging year of 2023, the Vietnamese economy is forecast to improve in 2024, with exports surging by a remarkable 42% in January 2024.