Export resilience to boost economy

10:07 | 23/10/2015 Society Follow Ven.vn on

The Vietnamese economy will likely expand more than 6% annually over the next few years thanks to continued export resilience and ongoing reform measures by the government to improve the country's business environment, according to BMI research firm.

Containers are loaded at Tan Cang - Hiep Phuoc Port in Ho Chi Minh City (Photo: VNA)

In the latest study in October, BMI research, a Fitch Group company, forecast gross domestic product (GDP) growth will accelerate to 6.4% in 2015, an increase of 0.4 percentage points, compared to 2014 and for the economy to grow in excess of 6.0% in real terms over the coming years.

BMI maintains a "positive outlook" on Vietnam's economy due to rising foreign investor interest, continued efforts by the government to improve the country's business environment, and the potential for greater private sector participation.

The country has made substantial efforts to establish itself as a key logistics hub in the Greater Mekong region, and consequently has reduced bureaucracy to attract investment. Specially, firms have benefited from a gradual reduction in tariff and non-tariff trade barriers, increasing the competitiveness of local producers compared to other regional producers.

Regarding the labour market, the study observed that Vietnam offers a number of notable advantages to firms including a high rate of literacy and an increasingly skilled and well-educated graduate population.

These advantages allow companies to access a competitive and available workforce.

Besides, Vietnam also has strong potential in the construction and real estate sectors. With the easing of regulations on property ownership for foreigners taking into effect since July of 2015, foreign investors can engage more deeply in the housing market and Vietnam.

Meanwhile, loose monetary policy and lower inflation will boost the construction and real estate sector in the future.

With regard to foreign direct investment (FDI), the study found out that Vietnam will attract more FDI in the next quarters thanks to the great effort of the government to stabilise the the economy. In addition, the Vietnamese Government has sent a strong message to investors that Vietnam will accelerate the process of equitisation of State owned enterprises.

This reform will improve the banking system, as well as reallocate many resources for the private sector./.

Source: VNA

ven.vn

See more news

Transport infrastructure fund needed to enhance Southeast regional linkages

09:52 | 21/03/2023 Society

HCM City authorities have proposed setting up a transport infrastructure fund to enhance regional linkages in the southeastern region to help unleash its full potential as the country’s economic locomotive.

Hà Nội to build new bridge crossing Red River

07:00 | 19/03/2023 Metropolis

A 820-metre long bridge named Thượng Cát crossing Hồng (Red) River in Hà Nội will be constructed with an investment of nearly VNĐ8.3 trillion.

Hoa Binh, sustainable investment destination

13:00 | 16/03/2023 Province

(VEN) - The north-central province of Hoa Binh has recently licensed 16 investment projects totaling VND49 trillion, reflecting the province’s drive for sustainable development and its unique advantages.

Singapore-Vietnam project benefits more than 2,500 renal patients

14:50 | 14/03/2023 Metropolis

The Singapore International Foundation (SIF), in partnership with Hanoi Medical University (HMU) and Tan Tock Seng Hospital (TTSH), closed their five-year Haemodialysis Care Project in Hanoi on 12 March 2023.

Amway Vietnam highlights consumer protection

10:31 | 14/03/2023 Society

(VEN) - Amway Vietnam, a global brand in the field of health and beauty care, sponsored a series of events this month celebrating Vietnam Consumer Rights Day, themed “Transparent Information – Safe Consumption”.

Hanoi to speed up public investment

06:00 | 14/03/2023 Metropolis

(VEN) - Chair of Hanoi People's Committee Tran Sy Thanh is urging the Government and National Assembly to provide the capital with greater power to speed up public investment.

Hanoi economy presents mixed picture

13:00 | 12/03/2023 Metropolis

(VEN) - Hanoi’s total retail sales of goods and services increased 18 percent in January compared with the same period last year. The capital has also identified 22 targets for socioeconomic development in 2023.

Vietnam working to expand eco-industrial parks

10:00 | 11/03/2023 Society

The steering committee of the “Eco-industrial park intervention in Vietnam – perspective from global eco-industrial parks programme” project has convened a meeting to review its implementation in 2022 and put forth another implementation plan until May 2024.

HCM City removes hindrances to work permit issuance for foreigners

15:06 | 09/03/2023 Society

Ho Chi Minh City has cut short the procedures for issuing work permits for foreigners and digitalised the application process to make it easy for enterprises to get work permits for their foreign staff.

International cooperation key to addressing urbanisation challenges: deputy minister

07:00 | 09/03/2023 Society

In the context of increasing urbanisation around the world, close cooperation between global partners have become a common trend in addressing the challenges of the development process.

Latest Most Read

Aeroderivative gas turbines increasingly popular in Asia-Pacific

16:25 | 29/03/2023 Energy

Power generation from natural gas plays an important role and provides favorable conditions for the energy transition towards a carbon-free future. GE is striving to support Asian countries in their sustainable energy transition strategies.

COP28 President-Designate to speak at Berlin Energy Transition Dialogue Conference

16:21 | 29/03/2023 Environment

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, will visit Berlin to give a keynote speech at the Berlin Energy Transition Dialogue Conference 2023 (BETD) and meet with senior leaders and ministers from across the world. During the BETD, Dr. Al Jaber will repeat his call for governments, the private sector and civil society to work together for swift and ambitious action to reduce global emissions and progress the energy transition.

Scholarship opportunity at New Zealand Education Fairs 2023

15:42 | 29/03/2023 Society

Education New Zealand (ENZ) and Eduvina Limited Company will co-host the New Zealand Education Fairs in April 2023, with the participation of nearly 40 institutions from New Zealand.

DKSH and Sanofi mark 10 years of partnership for sustainable growth in Vietnam

15:40 | 29/03/2023 Companies

With nearly 160 years of experience in doing business in Asia and beyond as well as over 30 years of presence in Vietnam, DKSH consistently strengthens its position as a trusted partner to many businesses. Bridging Swiss reliability and an Asian can-do at

A321neo: Breakthrough technology saves fuel consumption up to 20%

15:37 | 29/03/2023 Science - Technology

A321neo: Breakthrough technology saves fuel consumption up to 20%

Fireworks to light up Đà Nẵng's sky as international festival returns with a bang

06:00 | 16/03/2023 Entertainment

The event’s organisers, Sun Group, said that the 2023 event would focus on post-COVID-19 tourism promotion as a benchmark for full economic growth in the central region and the country.

Uncorking bottlenecks for support industry development

06:00 | 18/03/2023 Industry

(VEN) - Vietnam is mulling legislation to boost the low localization rate of its industrial production and means to modernize its support industries and increase their participation in the local and foreign value chain.

Vietnam adopts high integration standards

06:00 | 25/03/2023 Companies

(VEN) - Given Vietnam’s increased integration into the global marketplace, domestic producers are being urged to meet standards beyond those expected of high-quality Vietnamese products.

Vietnam seeks response to corporate tax overhaul

06:00 | 20/03/2023 Finance-Banking

(VEN) - All European Union states and many other countries will introduce a global minimum tax (GMT) of 15 percent on large corporations by the start of 2024, and Vietnam is being urged to devise appropriate policies and adapt to the new taxation.

Understanding UK trade remedies

06:00 | 17/03/2023 Vietnam and other regions

(VEN) - The UK-Vietnam Free Trade Agreement (UKVFTA), which entered into force on 1 January 2021, has become a two-way highway promoting bilateral trade. However, increasing protectionism trends make it important for Vietnam and its business sector to understand UK regulations on trade remedies and dispute settlement.

Multimedia

Video Longform Infographic Photo

Oscar dream

09:05 | 28/03/2023 Video

Witness the inspiring story of Vietnamese director Hà Lệ Diệm and her documentary 'Children of the Mist’. Despite facing several challenges, Diễm shot and edited the film in just four years with a borrowed camera and minimal training. Her incredible talent has earned her multiple prizes at international film festivals, and was even short-listed for the Oscars this year.

Vietnam remains world’s second-largest coffee exporter

08:55 | 28/03/2023 Infographic

Vietnam remained the second-largest coffee exporter in the world from February 2021 to January 2022, according to the International Coffee Organisation.

Ha Long Bay, Cu Chi Tunnels among ten adventurous tourism places in Southeast Asia

07:00 | 25/03/2023 Infographic

The travel magazine The Travel has listed Ha Long Bay in the northern coastal province of Quang Ninh and Cu Chi Tunnels in Ho Chi Minh City among the ten must-visit epic and adventurous places in Southeast Asia.

Vietnam-Italy trade partnership

13:00 | 23/03/2023 Infographic

Two-way trade turnover between Vietnam and Italy has doubled since 2010. Vietnam is Italy’s largest trading partner in ASEAN, while Italy is Vietnam’s fourth largest trading partner in the EU.

exploring viet nam s fourth highest mountain peak bach moc luong tu

Exploring Việt Nam ’s fourth highest mountain peak, Bạch Mộc Lương Tử

06:00 | 29/03/2023 Tourism

The top of Bạch Mộc Lương Tử in Lào Cai Province, Việt Nam, is a popular spot for tourists to watch the sunset and take pictures of floating clouds.

Policy

E-visa stay period may be extended to 90 days

18:09 | 27/03/2023 Policy

The Ministry of Public Security has recently proposed that e-visa holders might be able to stay in Viet Nam for up to 90 days instead of the current 30 days.

New legal documents in first half of March 2023

06:00 | 23/03/2023 Policy

VEN lists the latest legal documents issued by the Vietnamese Government, ministries and state agencies.

Animal feed industry asks for import tax reduction on raw materials

09:55 | 20/03/2023 Policy

The Government has received a proposal from the Vietnam Feed Association to eliminate the import tax on soybean meal, currently set at 2%.

Over 250 petitions submitted to authorities on fragility of petroleum regulations

18:07 | 16/03/2023 Policy

The petitions concern the alteration of petroleum business restrictions in decrees No.83/2014/ND-CP and No.95/2021/NQ-CP, resulting in losses for retail establishments.

Industry & Trade

HCM City to host international paper, coatings, rubber, and plastic expos

09:29 | 29/03/2023 Industry

Four international exhibitions, Paper Vietnam, Rubber and Tyre Vietnam, Coatings Expo Vietnam, and Plastech Vietnam, will be held in HCM City from June 14 to 16.

Bac Kan produce takes off

10:00 | 26/03/2023 Industry promotion

(VEN) - Efficient trade promotion has helped agricultural and unique products of the northern province of Bac Kan reach foreign markets, including the Czech Republic and Japan, among others.

Bac Giang develops rural industrial exports

07:00 | 25/03/2023 Industry promotion

(VEN) - The northern province of Bac Giang has become an industrial development center in recent years, with industry making a growing contribution to the provincial gross regional domestic product (GRDP). However, many rural industrial establishments in Bac Giang remain small-scaled and lack investment capital, equipment, machinery and technology, limiting production capacity, product quality, competitiveness, and domestic and foreign market expansion.

Ocean dialogue dicusses offshore renewable energy potential

09:53 | 24/03/2023 Energy

Offshore renewable energy was the centre of discussion at the 10th Ocean Dialogue in the central province of Khanh Hoa on March 23.

Investment

Vietnam's retail market proves attractive for foreign investors

09:21 | 29/03/2023 FDI

Vietnam is becoming an attractive retail market for companies all over the world with many regional and global FDI investors recently announcing plans to increase capital and expand distribution networks here.

Asian investors increasingly keen on Vietnam

13:00 | 26/03/2023 FDI

(VEN) - Vietnam is considered a promising destination for investment from Asia, as evidenced by the increasing operations of multinational corporations.

India introduces pharmaceutical industry' opportunities to potential Vietnamese investors

19:54 | 23/03/2023 Vietnam and other regions

Invest India, the National Investment Promotion & Facilitation Agency, had networking hybrid meet in Ho Chi Minh City, introducing investment opportunities in Indian pharmaceutical industry to potential Vietnamese investors.

Vietnam attracts Czech investors

06:00 | 23/03/2023 FDI

(VEN) - A delegation of top Czech companies, led by Czech Minister of Industry and Trade Jozef Síkela, visited Vietnam in February to explore investment and business opportunities.

Finance-Banking

Foreign investors expand consumer finance business in Vietnam

09:08 | 29/03/2023 Finance-Banking

Large foreign financial groups have actively penetrated the Vietnamese consumer finance market, which has significantly helped accelerate the digitalisation of the country’s financial services.

Stock market violations to face stricter sanctions

07:10 | 26/03/2023 Stock Market

The State Securities Commission (SSC) will review the Law on Securities and related decrees to complete the legal framework, and strengthen sanctions for violations to protect the legitimate rights and interests of investors.

Vietnam to develop policies to adapt to global minimum tax

07:05 | 23/03/2023 Finance-Banking

Vietnam will adjust investment policies to adapt to the global minimum tax rate and remain an attractive destination for investment.

Vietnam seeks response to corporate tax overhaul

06:00 | 20/03/2023 Finance-Banking

Environment

COP28 President-Designate to speak at Berlin Energy Transition Dialogue Conference

16:21 | 29/03/2023 Environment

Turning coffee grounds into energy

13:00 | 27/03/2023 Environment

(VEN) - Turning coffee grounds into biomass energy has helped the Nestlé Vietnam Co., Ltd save VND40-50 billion a year.

Vietnam saves 298,000 kWh during Earth Hour 2023

10:48 | 27/03/2023 Environment

With lights turned off for one hour starting 8:30 pm on March 25 in response to the 2023 Earth Hour campaign, Vietnam saved 298,000 kWh of electricity equivalent to about 555.6 million VND (23,617 USD), according to the Vietnam Electricity (EVN)’s National Load Dispatch Center.

The value of wood scraps for business

13:00 | 25/03/2023 Environment

(VEN) - Reusing scraps derived from most stages of wood exploitation and processing will increase business profits by two to three percent.

Science - Technology

A321neo: Breakthrough technology saves fuel consumption up to 20%

15:37 | 29/03/2023 Science - Technology

A321neo: Breakthrough technology saves fuel consumption up to 20%

AI to fuel development of modern agriculture workshop

10:19 | 28/03/2023 Science - Technology

Artificial intelligence (AI) has an important role to play in the development of modern and sustainable agriculture as it will help with farm automation and optimisation, from weather forecasting, plant and livestock health monitoring to product quality improvement, heard a workshop in Hanoi on March 23.

Vietnam, Thailand beef up sci-tech, educational collaboration

06:00 | 25/03/2023 Science - Technology

Thailand will further promote sci-tech and education cooperation with Vietnam, including a plan to teach Vietnamese at some local universities, affirmed Minister of Higher Education, Science, Research and Innovation (MHESI) Anek Laothamatas in a working session with Vietnamese Ambassador Phan Chi Thanh in Bangkok on March 20.

Science, technology, innovation promoted to support national development

Export resilience to boost economy

See also

See more news

Multimedia