Vietnam’s economic growth may accelerate this year, enabling the Southeast Asian country to attract investment from overseas as the global economy rebounds from the worst recession in more than six decades.
The country will grow between 6.5 percent and 7 percent this year, Vietnamese Prime Minister Nguyen Tan Dung said yesterday at the World Economic Forum in Ho Chi Minh City. The economy expanded at a 5.3 percent pace last year.
“Vietnam has become an attractive and safe destination for international investors,” Dung said. “Foreign investment capital has constantly risen over the years in Vietnam and plays an important role in the economic success of the country.”
Economic growth may gain further momentum to between 7 percent and 8 percent from next year to 2020, he said.
The global recovery from last year’s recession has boosted Asian exports and lifted economic growth from Thailand to Malaysia.
“After the strongest crisis since the Second World War, Asia has been surprisingly very stable and is bouncing back very fast,” Frans Muller, a member of the management board of Germany’s Metro AG, the country’s largest retailer, told the same conference.
Earlier this month, Dung asked the central bank to implement measures to reduce rates and help the country achieve economic growth of 6.5 percent this year.
Hanoi has tried to bring down borrowing costs that climbed to as high as 20 percent this year after a link was severed between the central bank’s benchmark and commercial banks’ interest rates.
Meanwhile, Hanoi plans to sell more foreign-currency denominated bonds, Deputy Vietnamese Prime Minister Pham Gia Khiem said in an interview yesterday in Ho Chi Minh.
“Our bond-sale plan depends on which projects we need to invest in, their effectiveness, and the level of risk involved,” he said.
Vietnam sold its first foreign currency bond in 2005, raising US$750 million in an offering in which demand exceeded supply by more than six times. In January, the Vietnamese government sold US$1 billion of 10-year debt.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
RSS