Friday, August 14, 2020 6:53:11 PM - Markets open
VN-INDEX 850.74 -4.31/-0.50%
HNX-INDEX 116.23 -0.64/-0.54%
UPCOM-INDEX 56.74 -0.12/-0.22%
GDP forecast to grow 3.8 percent this year
VietNamPlus - 7/23/2020 3:32:58 PM
 (0 ratings. You must sign in to rate.)
The institute provided two scenarios for the economy. In the first, the pandemic is assumed capable of recurring in many important economic and financial centres around the world, and confidence is so low that countries extend lockdowns into the second half of the third quarter.
 
This would affect demand for Vietnam’s imports and hit tourism and accommodation in the country.
 
If COVID-19 recurs strongly in major economic and financial centres around the world, Vietnam’s import and export activities would be seriously affected and would not be able to recover this year, leading to weak growth in domestic production.
 
At the same time, in this second scenario, accommodation and catering services have no means of recovering due to the absence of foreign tourists, while domestic demand for these services is limited by the poor economic situation, leading to a GDP growth forecast of 2.2 percent.
 
Vietnam is one of only a few countries to have posted economic growth in the second quarter of 2020, of 0.36 percent. GDP increased 1.81 percent in the first half.
 
Experts said that Vietnam’s economic prospects in 2020 will greatly depend on the control of the disease, not only domestically but also globally.
 
Factors supporting growth in the second half include expectations over economic prospects due to the signing of the EVFTA, disbursement in public investment projects, investment waves coming into Vietnam, and a stable macroeconomy./.
 
VNA
 
Read original article here
 
Newer News
14:47 Export set to hit 340 billion USD in 2025
07/08 Vietnamese consumers became the most avid savers globally
04/08 EVFTA expected to contribute to EU recovery after coronavirus crisis
31/07 Retailers increase stocks to ensure supply in all circumstances
31/07 Some 13,200 firms established in July
30/07 Consumer price index up 0.4 per cent in July
Older News
15/07 What VN needs to do to attract quality FDI after COVID-19
11/07 Conference looks at making full use of CPTPP
06/07 Vietnam needs professional investment environment
05/07 Pork and oil prices key to keeping inflation under control: experts
01/07 Administrative reforms would help unlock EVFTA's potential: EuroCham
01/07 Việt Nam highlights efforts to ensure human rights amidst COVID-19 pandemic
30/06 Vietnam’s trade surplus hits 4 billion USD in H1
29/06 Vietnam’s economy records decade-low H1 growth
27/06 US initiates investigation into Vietnamese tyre
18/06 Deals highlight VN-EU bilateral ties, global integration efforts
 
Newsletter Signup
Top Stories
GDP forecast to grow 3.8 percent this year
New regulations about corporate bond issuance
Reference exchange rate remains unchanged
New traders flock to market
Reforms needed to attract foreign portfolio investment: fund manager
Market Update
Last updated at 3:10:02 PM
VN-INDEX 850.74 -4.31/-0.50%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.