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IMF forecasts growth of 6.5% for Vietnam in 2017
Vietnam’s GDP growth in 2017 has been projected at 6.5 per cent and CPI 4.9 per cent in the IMF’s World Economic Outlook (WEO) released on April 19.
Economic activity is forecast to accelerate slightly this year in four of the ASEAN-5 economies: Indonesia, Malaysia, Philippines, and Vietnam.
The fifth, Thailand, is projected to recover from a temporary dip in tourism and consumption in late 2016. Growth in 2017 is projected to be 5.1 per cent in Indonesia, 4.5 per cent in Malaysia, and 6.8 per cent in the Philippines.
In these economies, the near-term pickup in growth is underpinned to a significant extent by stronger domestic demand and, in the Philippines, by higher public spending in particular.
Meanwhile, the World Bank’s recently-released East Asia and Pacific Economic Update forecasts Vietnam’s growth at 6.3 per cent this year and believes that growth will improve gradually during 2017-2019, driven by robust domestic demand and export-oriented manufacturing.
The WEO raised its projection for 2017 global growth to 3.5 per cent, up from its recent forecast of 3.4 per cent.
IMF’s 2018 forecast holds steady, with global economic growth set to rise to 3.6 per cent.
The expected growth improvements in 2017 and 2018 are broadly based, although growth remains tepid in many advanced economies and commodity exporters continue to struggle.
VN Economic Times
Thomas' double-double leads No. 10 Florida St. past Michigan
ST. THOMAS, U.S. Virgin Islands (AP) — Shakayla Thomas picked the right time to come up with her first double-double of the season.Thomas had 19 points and 11 rebounds, and No. 10 Florida State pulled away in the fourth quarter to beat Michigan 76-62 on Saturday in the final day of the Paradise Jam tournament.Imani Wright added 19 points, Ivey Slaughter had 15 and Leticia Romero 10 for the Seminoles (6-1), who won their third straight game."We just had to come together as a team, and keep the… chat_bubble_outline Read More...
Enterprises seeks sustainability
VietNamNet Bridge – Pham Hong Thai, Head of the General Department for Market Development and Business, speaks to the newspaper Viet Nam Economic Times on the need to have a close link between scientists and enterprises. If enterprises are to be the central player in innovation and creativity, they should change their thinking towards creating new products, adopting new management methods and new approaches to enter the global market.— Photo bnews.vn Would you tell us about the Ministry of… chat_bubble_outline Read More...
U.S. spy chief says expects Russia plans to expand presence in Syria base
WASHINGTON (Reuters) - The U.S. Director of National Intelligence said Russia was planning on expanding its presence at its naval base in Tartous, Syria to support its naval operations in the eastern Mediterranean.James Clapper also said he did not expect a "significant change in Russian behavior" when asked about Russia's hacking activities. (Reporting by Idrees Ali; Writing by Yara Bayoumy) World - Yahoo News chat_bubble_outline Read More...
Mekong Delta aims to become special tourist area by 2020
The master plan, approved by the Prime Minister last year, aims to turn the Mekong Delta into a special tourist area of the country, with the goal of welcoming around 34 million tourists, including 3.5 million foreigners by 2020, and about 52 million visitors, including 6.5 million foreigners by 2030. The region strives to offer about 53,000 hotel rooms by 2020, some 15 percent of which are third to five-star ones. The room number is projected to increase to 100,000 in 2030. Meanwhile, the… chat_bubble_outline Read More...
BUSINESS IN BRIEF 11/4
ACB to increase charter capital to over 11 trillion VNDThe Asia Commercial Bank (ACB) plans to raise its charter capital to more than 11.25 trillion VND (495 million USD, it said at the annual shareholders meeting in HCM City on April 10.The bank projects to raise its yearly pre-tax profit by 32 percent to 2.2 trillion VND for 2017, and targets a 16-percent rise in the total assets, credit growth and capital mobilisation and a bad debt ratio of below 2 per cent. In the first quarter of 2017, it… chat_bubble_outline Read More...