Vietnamplus

Singapore on October 14 decided to ease monetary policy for the first time in more than three years as the national economy has narrowly avoided recession in the third quarter of 2019.

Vietnam needs stronger human resources to serve the growing integrated circuit (IC) industry to create greater investment opportunities.

The local plastic industry, with solid growth in shipments, will surely meet its yearly export target of 3.2 billion USD, according to the Vietnam Plastics Association.

The Republic of Korea (RoK) is working hard to conclude free trade talks with Malaysia, the Philippines and Indonesia before November when leaders of the Association of Southeast Asian Nations (ASEAN) meet for the ASEAN-RoK Commemorative Summit in the country.

Thailand has revised the number of foreign tourists it expects to welcome this year down from 40.1 million to 39.7 million, citing impact of the global economic slowdown and the stronger baht.

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.

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.

Some Vietnamese exports have been investigated for origin fraud and tax evasion, which requires tougher action from the Vietnamese Government to settle the problem and keep its exports growing.

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.

Vietnam's private consumption growth will remain strong, supported by improvements in the labour market as youth unemployment falls, minimum wages grow and lower inflation levels prevail, experts forecast.

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.

Many companies are moving their factories from other countries to Vietnam, showing the potential for strong development of industrial real estate, according to Savills Vietnam.

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.

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.

Investors may want to brace for a bumpy trading week as the Vietnamese stock market is still vulnerable to the unpredictability of global shocks in geographic, political and economic conditions.

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 economic cabinet of Thailand remains optimistic that the country’s economic growth will exceed 3 percent this year despite the sluggish global outlook.