Vietnam Economic News

[DaiViet]

Vietnam is estimated to gain gross domestic product (GDP) growth of 7.08 percent in the first half of this year, the highest first-half growth rate since 2011, the country's General Statistics Office said on Friday.

http://www.xinhuanet.com/english/201..._137289582.htm

[DaiViet]

Japan overcame 86 countries and territories to become the largest foreign investor in Vietnam in the first six months of this year, with 6.47 billion USD, or 31.8 percent of the total registered capital.

With 5.06 billion USD, the Republic of Korea was Vietnam’s second biggest investor, followed by Singapore with 2.39 billion USD.

Manufacturing-processing industry continued to attract the most foreign direct investment (FDI) in Vietnam in the first half of 2018, with 7.91 billion USD, accounting for 38.9 percent of the total registered capital.

It was followed by real estate, with 5.54 billion USD, and the wholesale and retail sector with 1.5 billion USD, making up 27.3 percent and 7.4 percent of the total, respectively.

https://en.vietnamplus.vn/japan-lead...alf/133595.vnp

[DaiViet]

VinFast Manufacturing and Trading, a member of VinGroup, has entered into a joint venture with AAPICO Hitech for automobile body stamping and welding in Vietnam, while also partnering German engineering group EDAG as the overall development partner for the first electric vehicle to enter the Vietnamese market.

https://paultan.org/2018/06/13/vietn...or-production/

[DaiViet]

Vietnam becomes China’s largest trade partner in ASEAN: Chinese diplomat.

“The Chinese diplomat made the remarks during a press briefing held by the Chinese Embassy in Hanoi on July 26.

Total trade revenues between Vietnam and China were estimated at US$66 billion in the opening half of 2018, with the average monthly trade turnover between the two countries having exceeded US$10 billion for the first time in history, he said.”

“The growth rate of Vietnam’s exports to China reached 37.4%, ranking first among ASEAN countries. In February 2018, China surpassed the United States to become the largest export market for Vietnam.”

http://en.nhandan.org.vn/business/it...-diplomat.html

[DaiViet]

Vietnam posts $3.1-billion trade surplus in Jan-July

Cell phones and components topped the list of exports at $26.1 billion, followed by textile and garment at $16.5 billion and electronics and computers and components at $15.7 billion.

The U.S. was the biggest importer, with shipments rising by 8.9 percent to $25.5 billion.

The EU was second with $24.2 billion, up 12.9 percent, followed by China with $19.5 billion, up 24.7 percent.

https://e.vnexpress.net/news/busines...y-3786388.html

[DaiViet]

VinFast to open offices in Europe and Asia.

After cooperation with a number of German partners such as BMW, Siemens, Bosch, Durr AG, Schuler AG, Eisenmann, FFT and EBZ, the establishment of VinFast GmbH in Frankfurt reaffirms VinFast’s commitment to producing world class and high quality vehicles.

In addition to Germany, VinFast is also completing final procedures to establish subsidiaries in Shanghai, China and the Republic of Korea.

VinFast’s establishment of subsidiaries in major automobile manufacturing and consumption centres in Europe and Asia is the next step to enter the world’s automotive market, expressing the global vision of the Vietnamese car brand.

https://vietnamnews.vn/economy/46280...Te45KcZh6Dl.97

[zhaoyun]

Vietnam will be the South Korea of SE Asia in 20-25 years.

[DaiViet]

Vietnam will be the South Korea of SE Asia in 20-25 years.

Haha, it will take longer than that. But I’d be happy if they get halfway there within that time frame.

[Dragoon]

Vietnam is projected to have one of the highest increasing economies.
For example PWC projects Vietnamese GDP purchasing power from 32nd rank (2016) -> 29 (2030) -> 20th (2050)
and GDP nominal also improving.

[zhaoyun]

Haha, it will take longer than that. But I’d be happy if they get halfway there within that time frame.

Nah, I don't think it will take longer than 25 years. Vietnam has already developed rapidly in the last ten years. Now they are expanding into many different industries. My prediction is that Vietnam will be the next Guangdong. Same size/population/climate/similar cultures.

Lately, I've been watching some Saigon Vlogs and a lot of the developed areas feel like the big cities of Mainland China.