Vietnam Economy Remains Resilient to External Shocks

Although Vietnam remains significantly exposed to the Covid-19 outbreak and the ongoing turbulence in global financial markets, its economy has shown resilience to external shocks in the first few months of 2020. The country’s GDP was forecast to decrease from 6.5% to 4.9% in 2020.

GDP Grows 3.82% in Q1

12:54:08 PM | 4/4/2020

The General Statistics Office (GSO) recently released socioeconomic data for the first three months of 2020. The gross domestic product (GDP) was estimated to expand by 3.82% in the first quarter, the lowest in 10 years, illustrating economic hardship caused by the rapidly evolving Covid-19 pandemic.

Production Needs to Move on

10:41:57 AM | 1/4/2020

According to the latest updated data from the State Bank of Vietnam (SBV), from the beginning of the year to March 24, the new credit increased by only 0.5% from the end of 2019. Given the current situation, it is unlikely that credit growth will reach the target as set at the beginning of the year.

Easing Burdens for Businesses

11:35:32 AM | 25/3/2020

Anticipating that the Covid-19 pandemic will evolve complicatedly and unpredictably, the Prime Minister has requested relevant agencies to remove hardships and create favorable conditions for enterprises to access capital, credit, finance, tax, trade and electronic payment.

Promoting Solar Power Potential in Vietnam

10:21:49 AM | 23/3/2020

Vietnam has huge potential for developing solar energy systems, especially in the South and Southern Central regions. Commercial solar power projects are attracting economic resources, but its potential is not tapped on the lack of grid infrastructure.

Covid 19 Likely to Reduce Global GDP by 0.1-0.4%

1:12:38 PM | 20/3/2020

According to the Asian Development Bank (ADB), the magnitude of the economic losses will depend on how the outbreak evolves, which remains highly uncertain. The range of scenarios explored in the analysis suggests a global impact in the range of US$77 billion to US$347 billion, or 0.1% to 0.4% of global gross domestic product (GDP).

VSS Launches Voluntary Blood Donation amid Covid-19 Outbreak

10:19:49 AM | 19/3/2020

On March 18, at the headquarters of the Vietnam Social Security (VSS), the VSS Union in collaboration with the National Institute of Hematology and Blood Transfusion organized a voluntary blood donation program themed "Safe blood donation - Don't be afraid of Covid.

ICAEW:COVID-19 outbreak cuts South-East Asia’s GDP growth forecast to 4.2% in 2020

10:21:52 AM | 17/3/2020

Economic growth across the South-East Asia region is expected to slow to 4.2% in 2020,as the novel coronavirus (COVID-19) outbreakcontinues to weigh on tourism, disrupt regional supply chains and dampen household spending. This is according to the latestEconomic Update: South-East Asiareport from chartered accountancy body ICAEW.

PM Proposes Measures to Remove Difficulties for Private Sector Amidst Covi-19 Prevalence

10:20:39 AM | 13/3/2020

A number of measures to remove difficulties for businesses were proposed by Prime Minister Nguyen Xuan Phuc during a meeting between the government leader and representatives from key private economic groups in Hanoi on March 12.

Vietnam’s E-Commerce Market to Surpass US$17 Billion in 2023

10:24:42 AM | 12/3/2020

The e-commerce market of Vietnam is forecast to hit USS$17.3 billion by 2023, a sharp increase of US$9.4 billion compared to 2019, according to GlobalData.

E-Commerce - Solid Foundation for Cross-border Trade

10:51:30 AM | 10/3/2020

Cross-border business has become easier and more convenient, and brought significant revenue for individuals and businesses in recent years. Particularly, with manufacturing advantages, abundant labor force and developed e-commerce, cross-border business in Vietnam will be further developed.