Want to be in the loop?
subscribe to
our notification
Business News
VIETNAM ABLE TO BECOME NEW TIGER IN ASIA: ECONOMIST
Vietnam, a rising star in the global supply chain, has the potential to become a new tiger in Asia, economist Brian Lee Shun Rong at Maybank - Malaysia's largest financial services group and the leading banking group in South East Asia – has reportedly said.
Speaking at Forbes Vietnam’s recent Business Forum, Brian Lee affirmed that Vietnam will become a new tiger of Asia, after the Republic of Korea, Singapore, and China’s Taiwan and Hong Kong.
He said that the Vietnamese industry is developing strongly, driven by foreign-invested enterprises.
According to data from Maybank, both FDI influx into Vietnam and its export turnover in the past 10 years are bigger than those of all other Southeast Asian countries. In particular, the electronics and phone industry has surpassed garment and textiles to become the biggest contributor to the total export value.
This shows that Vietnam has enhanced its position in the global value chain, said Brian Lee, adding that the productivity of its workers also grows faster than that in other ASEAN countries.
To become a tiger of Asia, Vietnam should have world-standard infrastructure and skilled workforce, support domestic enterprises in improving their foothold in the global supply chain, and step up growth based on digital transformation, the economist noted.
The Russian newspaper also quoted economic expert Nguyen Xuan Thanh, a lecturer at the Fulbright School of Public Policy and Management, as saying Vietnam is well controlling inflation and fiscal and monetary policies.
According to him, even if the world oil price increases again, without exceeding the peak of 120 USD per barrel, Vietnam's economic situation in 2022 will still be positive, with inflation below 4 percent and GDP growth over 7 percent.
Source: VIR
Related News
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
ONE-TIME OFFER: COMPLEMENTARY CATHAY PACIFIC LOUNGE PASS
Begin your trip on the right note in Cathay Pacific’s first-ever ferry lounge, located at Shenzhen’s Shekou Cruise home port. Situated at the end of the pier, the ferry lounge offers a breathtaking 270-degree view of the sea. You can immerse yourself in sheer luxury and revel in the panoramic beauty. Catch a glimpse of Hong Kong in the distance.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).
![Card image cap](/uploads/news/Investment6.jpg)
VIETNAM ONE OF FASTEST-GROWING E-COMMERCE MARKETS IN SOUTHEAST ASIA
The report released on July 16 highlighted that the total GMV of Southeast Asia’s eight leading e-commerce platforms rose to $114.6 billion in 2023, up 15 per cent from 2022. The key drivers for the region's e-commerce GMV expansion in 2023 are Vietnam and Thailand, growing 52.9 per cent and 34.1 per cent on-year, respectively.
![Card image cap](/uploads/news/Security.jpg)
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
![Card image cap](/uploads/news/bn-01.jpg)
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
![Card image cap](/uploads/news/eco2.jpg)
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.