According to Mr. Vu Tien Loc, Chairman of Vietnam Chamber of Commerce and Industry (VCCI), developing small and medium enterprises and improving productivity in this region will play an important role in improving national labor productivity.
The impact of China’s economic slowdown on Vietnam’s economic prospects may be relatively limited. Beijing recently cut its growth target for this year to the 6-6.5 percent range, from ‘about 6.5 per cent’ set for last year. The official GDP growth of 6.6 percent in 2018 was already the slowest in 28 years.
Việt Nam’s economic performance has showed positive signs with last year’s GDP growth rate at 7.08 per cent, the highest rate in the last ten years.
Last year was marred by a series of economic shocks. In 2018, the World Trade Organization faced an unprecedented crisis, and the global trade order suffered clashes because of a tariff war launched by the US.
Upon the entry into force of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, great opportunities for Vietnam will usher in export and import market expansion, as well as an ease in rule of origin. VIR delves into the potential bonanzas deriving from the deal’s member markets.
On March 19 2019 in Ho Chi Minh City, Deputy Director General of Vietnam Customs, Hoang Viet Cuong chaired the meeting with Ho Chi Minh City competent agencies to discuss solutions to enhance the rank of cross-border trade transactions index.
Digitizing has been drastically changing the "face" of the global economy. Not standing outside the "game", Vietnam is considered as a country with great potential to strongly develop to a digital economy, if it resolves inadequacies and limitations of mechanisms and policies.
The private sector, despite being considered the driving force of the economy, has yet to achieve a breakthrough due to many reasons, experts said.
The outcomes of the Free Trade Agreement between the EAEU and Vietnam over the first two years are mixed. They are quite noticeable when it comes to trade in goods, but elusive in other areas.
Extensive international economic integration opens up many opportunities but also poses many challenges for agricultural exports, especially when the small scale and dispersed characteristics of Vietnamese agriculture cannot change in "a day or day two".
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