Vietnam economic recovery expected to speed up in H2: WB
Vietnam’s economy has shown signs of uneven recovery in early 2024 and economic activities are expected to firm up in the second half of this year, the World Bank says in its latest bi-annual economic update.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
WB estimates $25 bln foreign investment after Vietnam stock market upgrade
Vietnam’s stock market status upgrade from “frontier” to “emerging” by global index providers FTSE Russell and MSCI can attract international investments of $25 billion by 2030, the World Bank estimates.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
WB retains 2024 growth forecast for Vietnam at 5.5% despite Q1 surge
The World Bank has kept its growth projections for Vietnam’s GDP at 5.5% for 2024 and 6% for 2025, unchanged from its forecasts in October 2023, despite the country’s Q1 growth hitting a five-year high on a quarterly basis.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Int’l agencies outline transition pathways for Vietnam’s coal-fired power plants
International organizations and financiers have gathered in Hanoi to discuss transition options for a number of coal-fired power plants in Vietnam as the country is moving to meet its net-zero emissions target by 2050.
Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7
World Bank to finance 4 railway projects in Vietnam
The World Bank plans to finance four railway projects in Vietnam, according to a Friday discussion between Vietnam’s Ministry of Transport and the bank's representatives.
Infrastructure - Mon, Dec 22, 2021 | 11:30 am GMT+7
WB willing to finance Vietnam’s railway sector
The World Bank has surveyed and is willing to finance some railway projects in Vietnam, said Kathy Whimp, operations manager for the World Bank in Vietnam, at a Monday meeting with Deputy Minister of Transport Nguyen Danh Huy.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
HCMC should become greenest place to do business in ASEAN: WB exec
A Ho Chi Minh City-World Bank working group created two years ago aims to make the city “the greenest place to do business in ASEAN,” said Carolyn Turk, the World Bank’s Vietnam country director.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
WB to invest $231 mln in southern Vietnam water improvement
The World Bank has approved a $311 million project of improving the water environment in Binh Duong province, serving 550,000 people in southern Vietnam.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
WB revises down Vietnam’s 2024 GDP growth forecast to 5.5%
Vietnam’s GDP growth could reach 5.5% in 2024 and 6% in 2024, the World Bank said in its January 2024 edition of the “Global Economic Prospects” report.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam GDP growth can reach 5-6.7% in 2024: finance institutions
Foreign organizations have expressed a positive outlook about Vietnam’s GDP growth next year on the basis that the country’s economic growth is likely to surpass 5% this year as forecast by Party General Secretary Nguyen Phu Trong.
A year in review and 2024 forecasts - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam urged to extend economic support program into 2024
The Vietnamese government should consider extending the economic support program approved for the 2022-2023 period into 2024 to allow its planned investments to be fully implemented, supporting aggregate demand, the World Bank Vietnam has said in a monthly note.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam, WB to promote projects worth $5-7 bln in next 3 years
Vietnam and the World Bank have agreed to quicken the implementation of existing projects and promote game-changing projects within the framework of the latter’s $5-7 billion loans for Vietnam in the next three years.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Improve project quality to boost implementation speed, economic recovery, WB tells Vietnam
Improving project quality through better feasibility studies and reforming public investment procedures will help the Vietnamese government speed up their implementation and hasten economic recovery, a World Bank note says.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam seeks WB soft loans for major traffic, climate projects
Prime Minister Pham Minh Chinh has urged the World Bank (WB) to provide low-interest loans for key and large-scale traffic and climate-focused projects in Vietnam.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
IFC signs advisory agreement with Vietnam firm to promote sustainable rice production
International Finance Cooperation (IFC), a member of World Bank Group, is supporting Vietnam’s A An Food JSC to enhance its rice production quality and sustainability, thus helping boost the value and competitiveness of the country’s agricultural sector.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Fitch Ratings forecasts Vietnam economy to grow 6.3% in 2024
Vietnam’s economy is predicted to grow 6.3% in 2024 and 7% in 2025 thanks to support from domestic fiscal and monetary policies, following a slowdown in 2023, Fitch Ratings has said.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s 2023 FDI inflow likely to trump 2022 as investors gain confidence
Inbound foreign direct investment (FDI) in Vietnam this year is likely to surpass 2022 figures as operational overseas businesses recover and expand operations, according to KB Securities Vietnam JSC (KBSV).
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam domestic investment, investor confidence still weak: World Bank
While Vietnam’s growth gathered pace in the third quarter, private domestic investment and investors’ confidence remained weak, according to a World Bank report.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam, World Bank discuss $7 bln funding for railway, highway projects
Vietnam and the World Bank are discussing loans of $5 billion-$7 billion to implement major railway and highway projects as the country strives to make a breakthrough in infrastructure development.
Infrastructure - Mon, Dec 22, 2021 | 11:30 am GMT+7
WB revises down Vietnam’s GDP growth forecast to 4.7% in 2023, 5.5% in 2024
The World Bank has revised down its Vietnam GDP growth forecast to 4.7% in 2023 and 5.5% in 2024, according to the bank’s October edition of its East Asia and The Pacific Economic Update.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
German businesses 'very interested' in Vietnam energy transition: diplomat
Santiago Alonso, development counselor at the German embassy in Hanoi, talks to The Investor on the interest of foreign investors, including German ones, in capitalizing on Vietnam's green energy market, and the cooperation between the two governments in creating green jobs in the Southeast Asian country.
Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam central bank unlikely to further loosen monetary policy: WB
The slow credit growth and close monitoring of the inflation amid higher global energy prices may prevent the State Bank of Vietnam from loosening the monetary policy further, the World Bank said.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
US pledges to keep aiding Vietnam in climate change mitigation: Kerry
The U.S. will continue supporting Vietnam in coping with climate change as the latter is moving to cut emissions to zero by 2050, U.S. special presidential envoy for climate John Kerry has stated.
Politics - Mon, Dec 22, 2021 | 11:30 am GMT+7
World Bank arm IFC pledges $1.9 bln to Vietnam in fiscal year 2023
The International Finance Corporation (IFC), the World Bank Group’s private-sector investment arm, made total commitments of $1.9 billion in Vietnam in fiscal year 2023 ending June 30, the IFC announced on Wednesday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
IFC proposes $150 mln investments in 2 Vietnam realty firms’ bonds
IFC, the World Bank Group’s private-sector investment arm, is mulling over pouring $150 million into two Vietnamese real estate companies via sustainability-linked bonds (SLBs).
Real Estate - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam GDP growth to rebound next year after 2023 slowdown: WB
Vietnam’s GDP growth may slow down to 4.7% this year from 8% in 2022, but it’s likely to rebound to 5.5% in 2024 and 6% in 2025, the World Bank says.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam agri firm lands $100 mln trade facility from foreign lenders
TTC AgriS, a leading agribusiness firm in Vietnam, has obtained a $100 million trade facility from foreign lenders, adding to a $40 million finance facility acquired in June.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
AMRO cuts Vietnam GDP growth forecast to 4.4%
The ASEAN+3 Macroeconomic Research Office (AMRO) has revised down Vietnam’s GDP growth forecast to 4.4% in 2023 in its July update for regional economic outlook from 6.8% in April.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
IFC seeks to invest $10 mln in Vietnam-focused private equity firm ABBPE
World Bank Group investment arm IFC is considering a proposed investment of $10 million in Vietnam-focused ABBPE Capital Management Pte Ltd.
Finance - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam lender SHB seeks strategic foreign investor
Saigon-Hanoi Bank (SHB) is seeking an optimal strategic partner towards delivering greater value to customers and shareholders, a source with knowledge of the matter told The Investor Friday.
Banking - Mon, Dec 22, 2021 | 11:30 am GMT+7
WB facilitates inclusive, sustainable Vietnam recovery with $264 mln credit
The World Bank has approved a $263.9 million credit package from the International Development Association to propel Vietnam’s inclusive, green and digitally-driven economic recovery.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
IMF pegs Vietnam 2023 growth at 4.7% with H2 recovery
The International Monetary Fund (IMF) estimates Vietnam’s 2023 growth at 4.7%, aided by a second-half recovery led by a rebound in exports and expansionary domestic policies.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam economy likely to rebound in H2: Standard Chartered
Vietnam’s slowing economy is expected to recover in the second half of this year, Standard Chartered Bank said in its latest report.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnamese forests worth $200 mln a year in carbon credits: Deputy Minister
Vietnam's forests net-absorb 40 million tons of carbon yearly, or $200 million in carbon credits at $5 per ton, Deputy Agriculture and Rural Development Minister Nguyen Quoc Tri said Monday.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
WB advises streamlining procedures to boost Vietnam growth
Streamlining administrative procedures and removing regulatory hurdles could help promote activities and investments for economic growth, the World Bank said in its June edition of Vietnam Macro Monitoring.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
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