7 Oct 2024
International Economy
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Vietnam’s economy in 1Q21 grew 4.48 percent YoY, below expectations, owing to the impact of COVID-19 outbreak on consumption and the service sector in early 2021. As a consequence of the outbreaks, the Vietnamese government issued measures to temporarily shut down businesses including restaurants, cinemas and entertainment complexes in both Hanoi and Ho Chi Minh City. In addition, all large gatherings were prohibited, and businesses were forced to reduce their business hours, particularly public transport services. Meanwhile, the government also reduced the issuance of stimulus packages to lessen the fiscal burden that stemmed from the massive economic relief packages that were passed in the previous year, which encompassed reduction of corporate tax, soft loan aids, and cash handouts to those affected by the pandemic. As a result, domestic consumption and economic activity have only seen limited recovery. Likewise, foreign direct investment (FDI) has also experienced a slowdown, particularly investment in new projects. On the other hand, imports of capital goods and raw materials have grown considerably, putting pressure on the trade surplus even though the export sector is expected to expand by 22 percent YoY.... Read more
22 Dec 2020
In the latest currency manipulation report published by the US Department of the Treasury in December 2020, Vietnam was designated as a currency manipulator because it fulfilled three benchmarks set by the US. These include an intervention in the currency-exchange market as evidenced by Vietnam’s net foreign currency purchases, which were equivalent to 5.1 percent of GDP (exceeding the benchmark set at 2.0 percent of GDP). Vietnam also fulfilled the other two benchmarks: A bilateral trade surplus with the US of more than USD20 billion and a current account surplus at 2 percent of GDP. ... Read more
9 Oct 2019
Vietnam’s automotive industry is set to grow substantially over the next 5-7 years and this will likely attract additional investments in its car production. Although Vietnam is far behind other ASEAN member states in many aspects, in particular its car production, KResearch views that its car production capacity will likely increase ahead amid a transition towards electric vehicles if Vietnam accelerates improvements in various aspects. These include economic development, implementation of appropriate policies to support the automotive and auto-parts industry, strengthening lending system of financial institutions, offering all segments of the society greater access to finance and building confidence of prospective buyers towards Vietnamese-made cars. ... Read more
16 Jan 2019
Thailand experienced the first time of its KR CLMV Economic Presence (CLMV-EPI) Index not being among the top three ranking since the fourth quarter of 2017, replaced by Japan at the third position as affirmed by its increasing role as a large investor in CLMV. Change in Japan’s direct investment in CLMV is remarkable, with more focus on the non-manufacturing sector especially in Cambodia and Myanmar,... Read more
21 Sep 2017
Thai exports to Cambodia have risen over the past decade (2008-2016), recording an average growth of 12.6 percent YoY, excluding exports of... Read more
Thai exports to Cambodia have risen over the past decade (2008-2016), recording an average growth of 12.6 percent YoY, excluding exports of refined petroleum products and gold because those prices are volatile in nature. However, it is noteworthy that the growth rate over the past five years (2012-2016) had slowed to 2.2 percent YOY versus the 18.6 percent YoY pace recorded during 2007-2011. This trend likely reflects changes in Cambodia’s economic structure, and perhaps, some worrisome prospects for Thai exports toward competitiveness in the Cambodian market.... Read more
20 Apr 2017
Currently, Vietnam is one of the fastest-growing economies and investment magnets in Asia, also having a thriving consumer market. To facilitate and... Read more
6 Mar 2017
Growth is evident in Thailand's shipments to Vietnam for 2016; the 5.9-percent YoY increase we achieved represents the fourth consecutive year of p... Read more
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