World

ASEAN

Singapore's economy grew 3.5 percent in 2017

Singapore’s economy grew 3.5 percent in 2017, the country’s Ministry of Trade and Industry (MTI) said on January 2.
 
Singapore's economy grew 3.5 percent in 2017 ảnh 1Singapore economy grew 3.5 percent in 2017 (Source: Bloomberg)

Singapore (VNA) - Singapore’seconomy grew 3.5 percent in 2017, the country’s Ministry of Trade and Industry (MTI)said on January 2.

In his New Year message to thenation, Singaporean Prime Minister Lee Hsien Loong said, the country achievedthe highest economic growth rate projected in the government’s earlier forecastof between 3 and 3.5 percent. The figure shows a robust growth in the country’seconomy from 2 percent in 2016.

According to the MTI, Singapore’seconomy, which depends on trade, saw a remarkable breakthrough in 2017 thanksto higher global demand for electronic products.

Along with economic growth,labourers in the island state also saw their incomes improved, especially forthe low and middle income earners. Besides the impact from global economicgrowth, the improvement can be attributed to higher productivity, andbusinesses’ efforts to renovate and apply modern technology.

The country’s economic growth isexpected to range between 1.5 – 3.5 percent in 2018, according to the ministry.-VNA
VNA
#Singapore #economic growth #Singaporean Prime Minister #Lee Hsien Loong #higher productivity #modern technology #Vietnamplus #Vietnam News #Vietnam News Agency Singapore
Follow VietnamPlus

Related News

See more

Delegates pose for a group photo at the workshop (Photo: VNA)

Vietnam voices concerns over future of traditional media at ASEAN workshop

In his speech, Long outlined challenges related to policy, human resources, technological gaps and platforms, economic factors, and new issues arising from AI. He also introduced the VNA's solutions to address the challenges of digital transformation and shared VietnamPlus' experience in adapting to the digital environment.

An overview of the 29th ASEAN Labour Ministers Meeting (Photo: VNA)

Vietnam reaffirms commitment to building resilient, inclusive and integrated ASEAN Labour Market

To this end, Vietnam proposed three strategic priorities for ASEAN cooperation. First, ASEAN should expand and harmonise mutual recognition mechanisms by increasing the scope and number of Mutual Recognition Arrangements (MRAs) in the region; and promote the role of the ASEAN TVET Council (ATC) in connecting national skills certification systems with regional and global standards, based on national occupational skills qualification frameworks and regional references.

British Ambassador to Vietnam Iain Frew (Photo: VNA)

UK-Vietnam cooperation deepens ASEAN-UK partnership trust: ambassador

The UK is accelerating investment in clean power across Southeast Asia. The country is working closely together through its co-leadership of the Just Energy Transition Partnership (JETP) to support Vietnam’s ambition to expand renewable energy, unlock investment in offshore wind, and build a cleaner, more resilient energy system for the future.

A discussion at the forum "Vietnam-ASEAN in Global Value Chains: From Signal to Action". (Photo: VNA)

Vietnamese firms urged to strengthen capacity as ASEAN pushes deeper digital integration

Vietnamese businesses have established leading positions in some supply chains, including seafood, wood processing, cashew and coffee processing. However, in manufacturing and electronics, many firms remain concentrated in assembly and the supply of simple components. Data transparency, traceability and effective supply-chain management are key to helping leading businesses maintain their positions.

Deputy Director Vu Thi Tu Anh of the Department of Vocational and Continuing Education under the Ministry of Education and Training speaks during the workshop’s discussion session. (Photo: IOM Vietnam)

Vietnam advances qualifications referencing to support labour mobility in ASEAN

On August 21, the International Organization for Migration (IOM), in cooperation with the Department of Vocational and Continuing Education under the Ministry of Education and Training, held a national workshop in Hanoi to discuss the implementation of the AQRF and introduce Vietnam's AQRF Referencing Report and post-referencing action plan.

A men’s volleyball match between the Vietnam People’s Army team and the Myanmar Army team (Photo: VNA)

ASEAN Armies' Open Volleyball Tournament 2026 kicks off in Hanoi

Taking place until August 26, the tournament features six teams divided into two groups. Group A comprises the army teams of Vietnam, Myanmar and Cambodia, while Group B includes Ho Chi Minh City's police team, the Lao People’s Army's team and the Singapore Armed Forces' team.

Vietnamese Ambassador Duong Hoai Nam (second, left) and ASEAN ambassadors pose for a group photo in Prague, the Czech Republic. (Photo: VNA)

ASEAN marks 59th anniversary in Czech Republic

After nearly six decades of development, ASEAN has become one of the world's important regional organisations, playing an increasingly significant role in promoting peace, stability and cooperation in Southeast Asia and the broader regional architecture.