WB: Vietnamese economy sees positive changes in first half
The World Bank (WB) in Vietnam has stated that the Vietnamese economy marked positive changes in the first half, with growth estimated at 5.7 percent and inflation kept below 2 percent.
At the event (Source: VNA) Speaking at an event in Hanoi on July 13 to announce the WB’s update on Vietnam’s recent economic development, chief economist Sebastian Eckardt, Acting Country Director of the WB in Vietnam said the economy is still resilient thanks to stronger domestic demand and improving manufacturing and engineering.
According to the report, Vietnam’s medium-term economic outlook will be optimistic with an estimated growth of 6.3 percent this year. Inflation will be stable on the back of low prices of food and energy.
From 2018-2019, the growth is expected to hit 6.4 percent.
The report urges Vietnam to continue taking cautious approach to steering the macro-economy by reducing overspending to curb increasing risks regarding budget sustainability and create fiscal space against potential shocks in the future.
Vietnam needs to continue improving risk evaluation and monitoring capital safety to minimise arising risks amid credit extension, it said, adding that the country’s challenge is still how to sustainably maintain high growth and poverty reduction, it says.
Barriers to the restructuring of State-owned enterprises and business climate improvement will continue to be removed.
The report also features a special topic entitled “Towards strengthening high-quality financing” with a number of recommendations.-VNA
You should also see
Vietnam attends international security meeting in Russia
A Vietnamese delegation led by Minister of Public Security General To Lam is attending the 12th International Meeting of High Representatives for Security Issues in Russia’s St. Petersburg city from April 23-25.
See more
Business
Petrovietnam posts 9-billion-USD revenue in Q1
The Vietnam National Oil and Gas Group (Petrovietnam) saw total estimated revenue of 231 trillion VND (9 billion USD) from production and business activities in the first quarter of 2024, exceeding the set quarterly plan by 33% and up 19% year-on-year, head a conference held by the group recently.
Business
Forum seeks to increase PPP investment effectiveness
Investment cooperation in the public-private partnership (PPP) form is seen as a strategic option to mobilise private investment and improve public service delivery. However, the implementation of PPP projects in Vietnam still faces a lot of difficulties and obstacles, leading to a low number of successful projects and making the private economic sector cautious.
Business
Remittance inflows expected to quench real estate sector’s thirst for capital: Experts
Amid a “thirst” for capital of real estate businesses, the strong inflow of remittances is expected to heat up the market again, held insiders.
Business
Dong Nai province ready to ride Japanese investment wave
The southern province of Dong Nai stands ready to prepare the best conditions to welcome investors, especially those from Japan, Secretary of the provincial Party Committee Nguyen Hong Linh said on April 24.
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pool of both domestic and international investors for socio-economic development.
