While growth in most regions has slowed down, Vietnam’s economy is recovering strongly with GDP expanding by an average 6.84% during the 2016-2020 period, beating the set target and marking the highest figure in the past three five-year periods. The EVFTA and CPTPP could increase Vietnam’s GDP by 4.3% and 1.3% respectively by 2030. Such an impressive performance will lay a solid foundation for Vietnam to become a upper middle-income country by 2025. Growth projected at 7% Assessing the prospects of the Vietnamese economy for the 2021-2025 period, the National Centre for Socio-economic Information Forecast (NCIF) under the Ministry of Planning and Investment constructed two scenarios. In the first scenario, GDP growth is projected to average 7% per year, with inflation at between 3.5%-4.5%, while the ratio of capital to GDP is estimated at 31%, compared with 33.5% during the 2016-2020 period. Investment efficiency continues to improve, with the incremental … [Read more...] about Vietnam strives to join upper middle-income countries
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Vietnam growth set to slow in 2020: ICAEW
The country is projected to be the fastest growing market in Southeast Asia, which as a whole, will likely see growth remain at 4.5 per cent in 2020, amid high risks of a re-escalation in trade tensions between the U.S. and China, according to the latest report by the Institute of Chartered Accountants in England and Wales (ICAEW). Regional growth has slowed since 2018’s 5.1 percent increase, with the U.S.-China trade conflict a key driver of the downturn, with trade uncertainty a key drag on manufacturing, exports and investment, the report said. The exception has been Vietnam, which has benefited from some trade diversion effects caused by the trade war. However, the ICAEW report said it suspects Chinese goods have been re-routed via Vietnam to avoid higher tariffs. Although the U.S. and China recently agreed on a ‘phase one’ deal, it is too early to celebrate. "Frictions between the two remain high and the bulk of tariffs already imposed are unlikely to be lifted … [Read more...] about Vietnam growth set to slow in 2020: ICAEW
UL Healthy Building event supports growing demand for healthy buildings
Top experts on indoor air quality were invited to share their perspectives on opportunities and challenges of healthy building industry in Vietnam The above picture features Quang Do, Business Development director of GreenViet (first from left); Josh Jacobs, director of Environmental Codes & Standards, UL Environment & Sustainability (second from left); Nguyen Truong Hai, managing director of Saint- Gobain FGM South (second from right); and Phan Thu Hang, chairwoman of Vietnam Green Building Council (first from right). Air pollution presents an enormous health risk to people around the world. A 2018 report from the World Health Organization reveals that nine out of 10 people breathe air containing high levels of pollutants. Both outdoor and indoor air pollution are responsible for about 7 million deaths globally each year. In the Western Pacific region alone, around 2.2 million people die each year. In Vietnam, around 60,000 deaths a year are air pollution-related, according … [Read more...] about UL Healthy Building event supports growing demand for healthy buildings
