Việt Nam has solidified its position as one of Southeast Asia’s fastest-growing economies after eight decades of national development, according Emeritus Professor Carl Thayer from the University of New South Wales (Australia).
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth and improving the harmony between monetary and fiscal policies.
The supporting industries sector had made significant progress recently, thanks to government policies and efforts from the business community, said Phạm Tuấn Anh, Director General of the Industrial Safety Techniques and Environment Agency, Ministry of Industry and Trade.
The Prime Minister directed the State Bank of Vietnam to work with relevant agencies to monitor global and domestic economic trends and manage monetary policy proactively and effectively.
Becamex Bình Định Joint Stock Company, the investor of Becamex VSIP Bình Định Industrial Park, has attracted seven secondary investors to invest in high-tech application projects.
Waiving visas for nationals of key countries and adopting flexible visa policies tailored to different tourist segments will boost Việt Nam’s competitiveness vis-à-vis its neighbours.
Việt Nam has responded to the new tariffs by consulting businesses, cutting some import duties, easing technical barriers, curbing origin fraud and boosting imports.
The statistical visualisation platform Seasia Stats recently ranked Việt Nam among the top 15 economies in Asia, with projected economic output reaching some US$506 billion in 2025.
It will be difficult for the State Bank of Vietnam (SBV) to further loosen monetary policy due to a rising USD/VNĐ exchange rate pressure, experts said.
With rising stock market returns and reduced corporate borrowing costs, SBV’s policy direction should positively impact business performance and stock market growth.
Foreign tourists will be facilitated to travel around ASEAN with a new visa policy that permits one single visa for six countries in the region. Tourism and trade companies find it a favourable condition to develop.