Emerging markets outlook

The National Economic and Social Development Council  upgrades its export growth forecast to 5.8 percent from 4.2 percent. (Photo: VNA) Bangkok (VNA) – The Thai government has pledged to revitalise tourism, stimulate domestic spending , and spur exports and investment to help economic growth reach its 4-percent target this year, local media reported. Deputy Prime Minister Supattanapong Punmeechaow said the government still maintains an economic growth target of 4 percent this year although various economic forecasting agencies have downgraded their outlook to only 2.7-3 percent growth. The Fiscal Policy Office (FPO) recently slashed Thailand's economic growth forecast to 2.8 percent this year, down from 4.5 percent in October 2020, while the Joint Standing Committee on Commerce, Industry and Banking maintained its economic outlook at 1.5-3.5 percent, despite the distribution of the COVID-19 vaccine. Supattanapong noted three factors, namely exports, domestic … [Read more...] about Thailand persists with 4-percent GDP growth target this year

The Hanoitimes - The February figure remained a significant one as this was the shortest month in a year, not to mention that the week-long Tet holiday fell on February. In February, local investors opened 57,086 new securities accounts, the third highest number of all time after last December and January 2021, according to the Vietnam Securities Depository (VSD). Investors at a securities company. Photo: Tran Quynh This resulted in 3,805 new accounts per day, excluding weekends and holidays. Compared to the previous month, the number of new accounts witnessed a sharp decline of over 30,000. But the February figure is still significant as this was the shortest month in a year, not to mention that the week-long Tet holiday fell on February. VSD’s report revealed out of 57,086 new securities accounts, up to 57,018 were from individual investors, and 68 from organizations. In contrast, the number of new accounts from foreign investors decreased by 39% … [Read more...] about Local investors open third highest number of securities accounts in February

Politburo holds meeting with former Party officials On February 27, the Politburo and the Party Central Committee (PCC)’s Secretariat hosted a gathering in Hanoi with former members of the 12th Politburo, PCC’s Secretariat and PCC. Chairing the event, Party General Secretary and State President Nguyen Phu Trong said the Politburo and the PCC’s Secretariat highly value the great contributions of the former officials to the Party, people and country in the time when they held important positions in central and local agencies. The Party chief wished that the former Party officials will continue to make contributions to the Party, people and nation, and lend their experience in addressing important issues of the country. Participants expressed their belief that the 13th Politburo, PCC’s Secretariat and PCC will lead the country to a higher level of development in the near future, pledging to continue contributing to the Party’s cause and strengthening solidarity in the Party. … [Read more...] about February 22-28: Politburo holds meeting with former Party officials

The Hanoitimes - The government and the International Finance Corporation aims to increase the number of women in leadership positions in banks. The International Finance Corporation (IFC), a member of the World Bank Group (WB), and the State Bank of Vietnam (SBV) have signed a cooperation agreement to promote initiatives on enhancing the employment of talented women in management in the finance-banking industry as well as sustainable and inclusive economic growth. Vietnam, IFC will together promote female management in finance-banking. Photo: Thuy Truc Over the next 18 months, the IFC and the SBV will conduct a survey on the employment of women in banks and key barriers to the employment of women in managing positions. With the support of the Facility for Investment Climate Advisory Services (FIAS), the project will also build a pilot learning platform to share knowledge and experiences from global good practices for talent development, staff planning, … [Read more...] about Vietnam, IFC together to promote female management in finance-banking

The Hanoitimes - Vietnam should make effort to take use of its young and well educated labor force, said a report of the Asian Development Bank (ADB) launched today. According to the paper, Vietnam is set to continue its strong economic performance, with GDP growth forecast to rise to 7.1% this year, before easing back to 6.8% in 2019. ADB Country Director for Vietnam Eric Sidgwick believes in the country’s strong performance this year, aided by able macroeconomic management, economic growth will spurt in 2018. “Vietnam’s robust economic growth will be driven by vigorous manufacturing and export expansion, rising domestic consumption, strong investment fueled by FDI and domestic enterprises, and an improving agriculture sector,” he added. Illustrative photo The Asian Development Outlook (ADO) 2018 forecasts inflation to reach 3.7% on average this year, up from 3.5% in 2017, before edging up to 4.0% in 2019, as domestic demand and global commodity prices rise. … [Read more...] about ADB urges Vietnam to narrow workforce skills gap to remain strong growth