Malaysia will not face an economic recession this year as the country recorded an impressive 5.6% gross domestic product (GDP) growth in the first quarter of 2023, according to the country's central bank governor Tan Sri Nor Shamsiah Mohd Yunus.
Ho Chi Minh City’s Index of Industrial Production (IIP) in the first quarter of 2023 declined by 0.9% compared to the same period last year, the municipal Department of Industry and Trade reported at a press conference on April 3.
As 2023 is forecast to be a difficult year driven by increasing inflation and economic recession at the global level, enterprises in Vietnam have actively built scenarios to adapt to market recovery and anticipate new business opportunities.
Russian Ambassador to Vietnam Gennady Bezdetko has hailed Vietnam for its efforts in economic development amid a host of difficulties caused by the COVID-19 pandemic and concerns over a global economic recession.
Social distancing and strict control at hospitals, and an economic recession due to COVID-19, resulted in lower sales of both prescription and non-prescription drugs. However, many companies still witnessed outstanding performance.
Vietnamese Ambassador to Switzerland Le Linh Lan attended a webinar on Vietnam as a main speaker at the University of Applied Sciences and Arts Northwestern Switzerland (FHNW ) on February 16.
Vietnam’s 2021 economic outlook depends on the domestic and global COVID-19 situation, but growth of 6 percent is an achievable target for next year, a lawmaker has said.
Minister of Planning and Investment Nguyen Chi Dung forecast the country’s economic situation will face big challenges in the second half of the year with huge pressure on inflation control and markets for domestic products.
A global economic recession caused by the COVID-19 pandemic might put Vietnam’s economy at stake due to its strong dependence on partner countries and the international trade environment.
The Singaporean Ministry of Trade and Industry (MTI) on March 26 admitted that the country’s economy is looking headed for its first full-year recession in about two decades as the COVID-19 pandemic is causing negative impact on the global scale.
Thailand is on course for an economic recession in the first half of this year, with its 2020 GDP being forecast to decrease 0.3 percent from the previous 1.8 percent as a result of the COVID-19 outbreak, according to the Siam Commercial Bank’s Economic Intelligence Centre (EIC).
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