In the economic outlook for the second quarter entitled “Darkest before the dawn”, the bank said the manufacturing sector, which accounts for one-third of the country’s GDP, is expected to grow only 3 percent this year compared to 11 percent in 2019. … [Read more...] about Standard Chartered Bank: Vietnam’s 2020 economic growth to fall to 3.3 pct.
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At the meeting, Prime Minister Nguyen Xuan Phuc asked the central bank to have more flexible and effective monetary policies to stimulate demand and economic growth, at the same time to maintain macroeconomic stability, control inflation and consolidate the confidence of investors. … [Read more...] about Stronger money policies might be considered to aid economic growth
What proposals has the Ministry of Planning and Investment (MPI) recommended in respect to macro-economic monitoring? At the online meeting of the government with localities on July 2, the MPI proposed to the government to strictly apply a new principle in taking actions striving for a quick rebound and development. The message is that fighting economic depression must be like fighting the enemy, similar to the spirit we had exercised while combating the coronavirus. … [Read more...] about Stronger actions needed for economic rebound
Director of the provincial Department of Planning and Investment Truong Dang Khoa predicted that the province’s GRDP would rise 5.28 percent this year, adding that Ca Mau may fail to achieve seven of the 21 socio-economic development targets set for 2020: exports, GDP, budget collection, budget spending, poverty reduction, job creation, and unemployment insurance coverage. … [Read more...] about Ca Mau forecasts growth of 5.28 percent this year
Soc Trang (VNA) – Export revenue of the Mekong Delta province of Soc Trang reached 470 million USD in the first six months of 2020, up 26 percent over the same period in 2019, despite impact of the COVID-19 pandemic and severe salinity. Of the total, 332 million USD came from aquatic products, a rise of 24.83 percent, and 97 million USD from rice, 2.2 times higher than that in the same time in 2019. A number of local fisheries firms predicted that shrimp exports will rise strongly in the coming months, even by 50 percent year on year in July. Experts attributed the results to Vietnam’s strong performance in controlling the pandemic and local firms’ efforts in enhancing the quality and designs for their products. In 2020, Soc Trang aims to earn 900 million USD from exports, including 670 million USD of fisheries sales. To this end, the province has directed the industry and trade sector and businesses to expand markets, while focusing on traditional ones and … [Read more...] about Soc Trang’s export revenue grows 26 percent despite COVID-19