Vietnamplus

After setting record-high imports this year, the Philippines plans to buy less rice from foreign markets next year amid excessive supply coupled with improvement in local production.

The 11th plenum of the 12th Party Central Committee concluded in Hanoi on October 12 after six days of sitting, fulfilling all of its set working agenda.

The World Bank (WB) has said the Malaysian government needs to diversify and increase its revenue resources, including widening coverage of the sales and services tax (SST) to rebuild fiscal buffers. ​

The medium-term outlook for the Vietnamese economy is broadly positive despite persistent downside risks, the World Bank (WB) said in its East Asia and Pacific Economic Update released on October 10.

The World Economic Forum (WEF) has ranked Vietnam as the 67th most competitive economy in its latest report released on October 9.

Experts suggested firms use more derivative instruments, such as futures and forward contracts, to minimise exchange rate risks when they can no longer borrow the US dollar from commercial banks, starting early this month.

Vietnam posted an economic growth of 6.98% in the first nine months of this year. Experts said the result gives momentum for the economy to achieve its yearly target of 6.8 percent.

Credit has been provided for production and business activities and the priority fields while loans for high-risk areas have been further tightened so far this year, the State Bank of Vietnam (SBV) reported.

Economists are upgrading their growth projections for Vietnam after the latest data showed the economy surged more than 7 percent in the third quarter, according to Bloomberg.

Vietnam has emerged as an attractive destination to investors thanks to its rapid economic growth and high business profits, said Vladimir Potapov, CEO of Russia’s VTB Capital Investments and Senior Vice President of VTB Bank.

The consumer price index (CPI) in September rose 0.32 percent over the previous month, said General Director of the General Statistics Office (GSO) Nguyen Bich Lam.

Vietnam’s GDP expanded 6.98 percent in the January-September period, the highest nine-month growth rate over the past nine years, said General Director of the General Statistics Office (GSO) Nguyen Bich Lam on September 28.

Laos’ economic growth will be moderate in 2019 and 2020, projected to be at 6.2 percent, slightly lower than April forecast of 6.5 percent, according to a new Asian Development Bank (ADB) report.

The Steering Committee for Price Management held a meeting in Hanoi on September 27, during which Deputy Prime Minister Vuong Dinh Hue said that if there are no unexpected factors, this year’s inflation can be kept at around 3.3 – 3.5 percent.

As Singapore continues to see sluggish trade and growth data, with core inflation at a three-year low, economists forecast the central bank to ease monetary policy in its upcoming review and provide some support to the economy.

Vietnam’s socio-economic situation has shown positive signs with the economy maintaining growth momentum in the first months of 2019, according to Nguyen Duc Kien, vice chairman of the National Assembly (NA)’s Economics Committee.

Indonesia’s economy is expected to maintain a healthy growth rate in 2019 and 2020 on the back of continued strong domestic consumption, according to the Asian Development Bank (ADB).

Some members of the national financial and monetary policy advisory council have pointed out certain problems in the economy, warning that failure to address them would not only make faster growth unachievable but also decelerate economic expansion.

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 House of Representative passed the 2020 state budget on September 24, focusing on five prioritised fields, to avoid an economic downturn amid a risk of recession in developed economies and a global trade war.