Tuesday, August 20, 2019 - 3:42:47

Nguyen Anh Duong

Flexible policies needed to cope with economic turbulences

Business

Flexible policies needed to cope with economic turbulences

Competent authorities should give top priority to stabilising the macro-economy and applying flexible macro-economic policies to cope with disadvantageous developments of the regional and world economies, heard a seminar held by the Central Institute for Economic Management (CIEM) in Hanoi on July 12.

Prospects look good for Vietnam’s economy in 2019

Business

Prospects look good for Vietnam’s economy in 2019

Vietnam has experienced a year of socio-economic achievements. For example, economic growth continues at a high level; the macroeconomic environment remains stable; inflation is under control; the trade surplus is at record levels; and the State budget deficit is stable.

Tourism makes up low proportion of GDP

Business

Tourism makes up low proportion of GDP

While in many countries tourism contributes remarkably to the economy, it makes up less than seven percent of Vietnam’s GDP. The figure is modest compared to the country’s potential.

Firms hopeful of strong 2017

Business

Firms hopeful of strong 2017

Vietnamese firms are mostly optimistic about their business results for 2017, driven by the improved macro-economy coupled with Government efforts to improve the business climate and remove obstacles.

Vietnam to benefit from RCEP market region

Business

Vietnam to benefit from RCEP market region

Vietnam will be able to access a huge market of 3.4 billion people when it joins the Regional Comprehensive Economic Partnership (RCEP).

Countries in RCEP will have a combined GDP of 21 trillion USD, accounting for 29 percent of the world's GDP, said Nguyen Anh Duong, Deputy Director of the Central Institute for Economic Management (CIEM).

Speaking during a workshop held in Hanoi on July 17 on the impact of RCEP on Vietnam's economy and the opportunities and challenges it would pose, Duong said regulations on origin in RCEP would be simpler and more liberal than in other economic pacts. In addition, the parties would make more commitments on freedom of trade in goods and services and investment.