The Diplomatic Society

 
  • Increase font size
  • Default font size
  • Decrease font size


VIETNAM’S ECONOMY ON THE UP


Since the depths of the 2008 financial crisis the global economy has not fully rebounded, which can be seen in a slow recovery in several leading economies and some others are still stagnant. Vietnam had enjoyed an average growth rate of more than 8% before the advent of the then economic disaster. As the impacts of the financial crisis started to bite, Vietnam, among others, has experienced numerous challenges, which bogged down its economic performance to an average growth of around 5%.

Completing the engine system in Piaggio Vietnam Company

To date, the world economy is still in sluggish recovery, but the Southeast Asian country is in a different story. The government has exerted all available spaces to manoeuver the economy out of these debilitating circumstances, with an expansion of 6.03% in the first quarter of 2015. Inflation has been kept in check with a slight increase of only 0.04% in the first four months this year.

Vienamese financial markets is in healthy condition, in which stable liquidity has been provided by commercial banks that have been restructured. Along with this, the country’s stock markets has been back on recovery track towards bullish ones, fortified by a relative low P/E ratio in the first quarter this year compared with regional markets. Property markets also bounced back from stagnation caused by the financial calamity, as the number of property transactions has soared by three times year on year in the first four months.

A new life has also been breathed into industrial production with a 9.4% rise of IIP (Index of Industrial Production) compared with the same period last year. A domestic of above 90 million citizens appeared to present a promising demand for goods, illuminated by an increase of 2.8 points in its PMI (Purchasing Managers’ Indices) which reached 53.5 points. This can potentially be a lucrative playfield for invesment amid a gloomy outlook for the regional and global economies.


Microsoft’s cell phone manufacturing base at The Vietnam-Singapore Industrial Park Bac Ninh

All this economic performance could indispensably be traced to a sensible response by Hanoi’s administration through its management tools. Policymakers have been in complete control of any development in the economy, while the authorities have carried out appropriate countermeasures against adverse effects of a global slowdown. For instance, the government has effortlessly pressed ahead with a radical overhaul on state-owned enterprises through a deeply enhanced equitisation programme. Many state-run corporations with poor performance were dissolved, laying a level ground for fair competition. Public debt governance has been renovated to match international standard, providing a safe prospect for the economy.

Optimistic outlook
The well-being of the Vietnamese economy has been highly spoken of by the international economic institution from World Bank, IMF to HSBC bank. A bright future for this market can be ensured by an optimistic forecast by these organisations, in which Vietnam can attain a growth rate of 6.0% in 2015 and even faster in coming years. That indicates that the Indochinese economy will still be a driving force for the region as well as be a potentially promising market for investment.

With a government open to reform, Vietnam will continue to integrate further into the regional and global economy in conformity with global norms and principles that can offer foreign investors more favourable conditions to launch their business ventures.

 


 
 
 
 

_________________________________________________

February 2017 Edition

 border = 0
_________________________________________________

Translater


 
 
Slide-0
Slide-1
Slide-2
Slide-3
Slide-4
Slide-5
Slide-6
Slide-7
Slide-8
Slide-9
Slide-10
Slide-12
Slide-13
Slide-14
01/14 
start stop bwd fwd
 
 

Collaboration between Kazakhstan and NLSA On February 8th, 2017 H.E. Mr. Talgat Kaliyev, Ambassador of Kazakhstan to South Africa met with Professor Rocky MD Relebipi-Simela, CEO of the National... <|> Honorary Professorship awarded to Ambassador Anil Sooklal 14 February 2017 Ambassador Anil Sooklal, DIRCO’s Deputy Director General: Asia and Middle East, was awarded an honorary Professorship... <|> Celebration of Spanish language day On 29 November 2016, the Embassy of Spain commemorated the 400th anniversary of the death of Miguel de Cervantes and the day was celebrated with Spanish language... <|> King Silamba Commemoration on 4 March 2017 The King Silamba Annual Commemoration will be held on the 4 March 2017 at the Komjekejeke Heritage Site, Walmansthal, North-East of Pretoria. The event was... <|> Police Action for IDSA members 15 February 2017 Commander Chris Opperman, of the Tshwane Metro Police, and his team attended IDSA's January coffee meeting hosted by Champa Weerasekara, of Sri... <|> Easing travel regulations between South Africa and Kenya 3 May 2016 South Africa and Kenya have announced measures that will make travelling between the two countries easier. South African Home... <|> Kazakhstan is shifting to a new model of power distribution The President of Kazakhstan, Mr Nursultan Nazarbayev addressed the nation on 25 January 2017 regarding the issue of redistribution of... <|> Integrated urban development 12 February 2017 South Africa’s Cooperative Governance Deputy Minister Andries Nel has met with his counterpart, the Barbara Hendricks, Secretary of the German... <|> Senior Officials Meetings with Singapore and Thailand 15 February 2017 Professor Sooklal, Deputy Director-General Asia and the Middle East at the South African Department of International Relations... <|> Algeria to get a taste of SA culture 14 February 2017 Algerians will get an opportunity to sample South Africa’s artistic talent when the cultural seasons is launched in that country on 24... <|>
© copyright 2011-2017| The Diplomatic Society| All Rights Reserved.