So far, with its impressive economic growth rate of 7.08% last year exceeding the initial target of 6.7%, the Vietnamese economy has been hailed by the international community as one of the fastest growing economies in the world. “Weathering difficulties, we have reached a very impressive growth rate, at an estimated 7.08%, the highest level since 2008. The growth quality has significantly improved in almost all indexes,” Prime Minister Nguyen Xuan Phuc stated. This rate has also been higher than recent forecasts by high-profile international organisations, such as Standard Chartered Bank (7%), the World Bank (6.8%), the Asian Development Bank (6.9%), Fitch Solutions (7%), and Union Bank of Switzerland (6.6%). “The growth rate for 2018 has affirmed the timeliness and effectiveness of solutions enacted by the government. It also reflected great efforts by all the Party, the state, ministries, agencies, localities, people, and enterprises,” PM Phuc said. Quality … [Read more...] about Economy seeking higher growth for 2019
Prime Minister General Prayut Chan-o-cha has expressed his satisfaction with a report on the higher growth in Thai exports. He also received a report stating that the number of foreign investors that have shown interest in investing in the Eastern Economic Corridor (EEC) is beyond expectations. The Prime Minister said that export growth was seen in both agricultural and industrial products, such as natural rubber, sugar, vegetables and fruits, frozen and processed chicken, rubber products, automobiles and automotive parts, electric-circuit boards, and computers and parts. He said that the continued expansion of the global economy has contributed to Thai export growth. Statistics show that Thai exports to the United States and Vietnam recorded significant growth. Exports to the Middle East also continued to grow steadily. The Prime Minister hailed relevant government … [Read more...] about Higher growth in Thai exports and many investors interested in EEC
Deputies at the fourth session of the 13th National Assembly passed the Law on the Capital City during the November 21 sitting, to enable the effective realisation of the Party’s viewpoints and policies on building, developing and managing the capital. The four-chapter, 27-article law contains the position and role of the capital city, and the responsibilities of the National Assembly, Government, ministries, branches and people in protecting and developing the city. It also has regulations to protect the capital’s culture, education, science and technology, housing development and traffic and land management. Under the law, planning must be approved by the Prime Minister after the National Assembly gave a nod. The law prohibits expanding hospitals within the inner city, and new industrial zones and industrial production enterprises, tertiary education and vocational training institutes are not allowed to be built in the inner districts. The Prime Minister will decide … [Read more...] about Law on Capital City facilitates higher growth
In 2008 - 2009, our people and country have been facing and overcoming many difficulties and challenges due to unusual and reverse changes of the world economy, which worsened the national economy's internal weaknesses and restricted our possibilities to adopt responses and development policies. The story began with inflation, when the rocketing prices of food, petroleum and most of imports made prices on domestic market to hike. In addition, financial and monetary policies were loosen for years, foreign investment capital in stock market sharply increased, the total means of payment and outstanding credits surged, especially in 2007, and we were forced to readjust prices of coal, petroleum and electric power in line with the market regime. The aggregate impact of all these elements made the consumer price index in our country to reach a double-digit figure, higher than some countries in the region, put production and people's life in difficulties, caused worries and diverted … [Read more...] about PM underlines macro-economic stability and higher growth rate as top priorities in new year
Does More Capital Mean Higher Growth? Increasing capital for agricultural and rural development is a hot topic in the National Assembly’s discussion about national budget allocation for 2012. It is expected that the national budget allocation for agriculture in 2012 will increase by 28 percent, reaching about VND 370,000 billion. According to Dr Dang Kim Son, Director of Institute of Policy and Strategy for Agriculture and Rural Development (Ministry of Agriculture and Rural Development), compared with other countries, Vietnam’s investment in agriculture is too low with unreasonable structure, with dispersed results and low economic efficiency. Especially, Vietnam hasn’t built up a complete system to cover all stages from input materials, production, manufacturing, storing agricultural products to consumption and export. Thus, there are many goods exported in the form of raw materials, gaining little foreign currency, and not meeting available potential. … [Read more...] about Does More Capital Mean Higher Growth?