Vietnamplus

Thailand’s GDP growth forecast for 2020 has been set at 2.5-3 percent by Kasikorn Research Centre (K-Research) as compared to 2.8 percent growth seen this year.

The Asian Development Bank (ADB) has revised down its forecast on economic growth in Southeast Asia to 4.5 percent compared with a previous forecast of 4.8 percent and from last year's 5.1 percent pace.

The Indonesian government has prepared three scenarios for its national economic growth projection for the next five years to enhance its resilience to threats of global upheavals.

Indonesia’s central bank (BI) slashed interest rates on September 19 for the third month in a row as Southeast Asia's biggest economy is affected by the US-China trade war and slow global growth.

The Vietnam Textile and Apparel Association (VITAS) said the total export value of textiles, fiber, and cloth reached 25.7 billion USD in the first eight months of the year, up 8.6 percent year on year, including 60.6 percent from foreign direct investment (FDI) enterprises.

The Philippines has gained from the trade war between the US and China, according to a review of export data of the country in the first seven months of 2019 by Maybank Kim Eng analysts.

With ultra-loose monetary policy worldwide, nominal interest rates of 95 central banks have been cut 38 percentage points from the outset of the year, and gold has become the most profitable channel.

Vietnam’s fiscal deficit, including principal repayments, would come in at 6.6 percent of GDP this year and next year, up from 5.9 percent in 2018, Fitch Solutions Macro Research forecast.

The market sentiment will remain lateral in September weighed down by global economic and political tensions while trading quiet amid speculations of Q3 corporate earnings.

Many Vietnamese enterprises are keeping a close eye on the escalating US-China trade war and have said the challenges from it outnumber the opportunities for them.

Southeast Asian economies will likely face continued external headwinds in the remaining months of 2019 as the US-China trade tensions weigh on the region, according to Nikkei Asia Review of Japan.

The Thai government has pledged to give new measures to spur exports and promote investment either later this month or early next month.

Thailand’s economy expanded at the slowest pace in almost five years in the second quarter of 2019 as exports and tourism deteriorated due to impacts from the US-China trade war and the strong baht.

The Ministry of Commerce has held a meeting of the Joint Public and Private Sector Consultative Committee (JPPSCC) to seek measures to stimulate Thai exports which has been affected by the trade dispute between the US and China.

The sudden depreciation of Chinese yuan against the US dollar brings more difficulties to Vietnam’s yarn industry, according to Vietnam Textile and Apparel Association (VITAS).

Domestic production has faced strong competition as the US and China are increasing exports to Vietnam on the back of their escalating trade war, head of the Ministry of Industry and Trade’s Trade Remedies Authority of Vietnam Le Trieu Dung said on August 9.

The escalating trade tension between the US and China will cause considerable impact on Vietnam’s export, according to Pham Tat Thang, head of the Institute for Trade Research.

The USD/VND exchange rate has grown strongly at the heart of the global fight over economic dominance between the US and China, the world’s two largest economies.

Prices of gold, real estate and stocks would be pushed up by the US Fed’s decision to reduce interest rates, a move that tends to make the US dollar lose value against other foreign currencies.

The State Bank of Vietnam (SBV) has reported a foreign currency reserve amount of 68 billion USD in the first half of 2019, the highest level so far.