economy

Vietnamese firms are keeping more cash on hand because of ‘challenging business conditions and high deposit interest rates earlier this year’, Vietnam News is reporting. Interest rates are, however, have been pushing all-time lows–This article is confusing. That said, the data collected, at a glance, seems to confirm that a

The State Bank of Vietnam (SBV) has said today that credit growth declined by .6 percent in January, VN Express is reporting. This is after the SBV set a target for the year of 15 percent and for the first quarter of the year of 4.4 percent. It also follows

The start of the new year, as it does most years, heralded an influx of data covering Vietnam’s economy in 2023. Imports and exports were a key focus with Vietnam registering a trade turnover of US$683 billion in 2023 a fall of 6.6 percent over 2022.  Of particular interest, however,

U.S. Under Secretary of State Jose W. Fernandez has told a press briefing that politics will not be a factor in the Department of Commerce’s review of Vietnam’s status, The Investor is reporting. This is after a letter from several prominent US Senators, including former presidential hopefuls Elizabeth Warren and

Eight US senators have added their voices to those opposed to removing Vietnam’s non-market economy tag, signing a letter to that effect and addressed to the Secretary of Commerce. Among them are former US presidential hopefuls Elizabeth Warren and Bernie Sanders. The letter argues that Vietnam fails to meet all

Vietnam was ranked 83 out of 180 countries on the Transparency International Corruption Perceptions Index for 2023, down from 77 in 2022, Reuters is reporting. Reuters goes on to point out that this is despite a ‘corruption crackdown’ that has seen a number of high level officials locked up. This

The World Economic Forum’s The Future of Growth Report 2024 has found that of ASEAN member states included in the report, Vietnam has come out on top in sustainability. Of note, the country received its best scores under sustainability in: Investment in renewable energy as a percentage of GDP. This

The ASEAN+3 Macroeconomic Research Office (AMRO) January update has suggested Vietnam’s GDP growth in 2024 could be the third highest in the region at an estimated 6 percent. Thought the report does not provide analysis specific to Vietnam it broadly suggests that the regional economy is improving on the back

Almost 73 percent of businesses in Vietnam intend to scale-down, temporarily suspend operations, or shut-up shop altogether in 2024, according to a survey conducted by the Private Economic Development Research Board (Division IV) and VN Express. Pulled from the responses of 2,700 Vietnamese businesses, the survey also found that of

December in Vietnam began with state media announcing the wave of lay-offs that had plagued the manufacturing sector in Ho Chi Minh City was drawing to an end. This conclusion was reached based on just 13,300 people registered to receive unemployment benefits in November, a drop of nearly 25 percent

The World Bank is estimating Vietnam’s GDP growth will cap-out at 4.7 percent  for 2023, with 5.5 percent growth expected in 2024 next year, according to the World Bank’s Global Economic Prospects–January 2024 report.  This is slightly less than official data provided by Vietnam’s General Office of Statistics which estimated

Deposits at Vietnamese banks hit US$554.53 billion at the end of 2023, VN Express is reporting. Also at the end of 2023, it was announced that credit growth had hit 13.7 percent making total credit to the economy at around US$555.07 billion. This puts Vietnam’s loan-deposit ratio at 104 percent.