Periodic objectives The government has set periodic objectives, which would help them to compare and efficiently manage the implementation of the development strategy. 2018 to 2020 Restructure the credit institutions system to manage bad debts and ensure the interests of depositors. In addition, Decision 986 also aims to maintain the stability of such institutions […]
On August 8th, 2018, Vietnam issued Decision No.986/QD-TTg (“Decision 986”) on the Development Strategy of Vietnam Banking Sector to 2025, with a vision to 2030. The strategy aims to increase independence and accountability of its central bank, the State Bank of Vietnam (SBV) to ensure efficient management of monetary policies, inflation control, and increase support […]
Survey indicators Among the six indicators in the survey, Vietnam’s rank in Tracking and tracing and Logistics competence rose the highest, jumping by 41 and 29 spots respectively. Both, customs and infrastructure rose by 23 levels, while timeliness jumped 16 places. The lowest growth was seen in International shipments, which rose only by one spot. […]
Comparison Vietnam’s global rankings jumped from 64th in 2016 to 39th in 2018. Among the ASEAN member states, its rankings rose from 5th to 3rd during the same period. In 2016, ASEAN rankings were led by Singapore, Malaysia, Thailand, and Indonesia, while in 2018 Singapore and Thailand led the rankings. Among the lower-middle-income economies, Vietnam […]
Vietnam jumped 25 spots in the World Banks’s Logistics Performance Index 2018, ranking 39th among 160 countries. Amongst all the major components that were analyzed for comparisons, the highest improvement was seen in Tracking and Tracing and Logistics Competence which rose by 41 and 29 levels respectively. Logistics Performance Index The Logistics Performance Index is […]
Recommendations for 2020-2030 According to the report, the key steps the government should take to increase the FDI quality in the next decade are: Create a national skills development plan to increase the share of skilled labor in the workforce; Modernize investment promotion activities and focus on priority sectors; Review and make changes to the […]
Challenges The lack of skilled labor and low local supply chain integration are the two major challenges in the country. Due to this, the quality of investments in the country hasn’t improved in the last 10 years. Low-cost labor and government incentives continue to remain the major determinants of FDI in Vietnam. However, as labor […]
Vietnam’s Ministry of Planning and Investment and the International Finance Corporation (IFC), a sister organization of the World Bank recently released a report with recommendations focusing on FDI attraction strategy for 2020-2030, which is a major component of Vietnam’s 2021-2030 socio-economic development strategy. FDI in Vietnam FDI in Vietnam has grown by a factor of […]
Concerns The top five concerns amongst Vietnamese consumers in 2018 was the same as Q4 of 2017. The biggest concern was job security for 43 percent of the respondents, followed by health at 41 percent. 23 percent of the consumers mentioned work/life balance and economy, while 16 percent mentioned happiness as the other major concerns. […]
Vietnam In the last quarter of 2017, Vietnam ranked as the seventh most optimistic country in the world. By Q1 of 2018, it consumer confidence levels rose by nine points to 124, compared to Q4 of 2017, making it the fourth most optimistic country in the world. Spending According to the survey, as household incomes […]
Infrastructure Infrastructure development in ports, highways, airports, and utilities along with a favorable location are the key factors that continue to attract investors to the region. Roads The Tan Vu-Lach Huyen Highway and Bridge are one of the biggest infrastructure projects in Hai Phong. It is a 15.43 km highway, which also includes a 5.44 […]
Vietnam’s consumer confidence in the first quarter of 2018 rose nine points compared to the last quarter of 2017, to its highest level in 10 years. The positivity about the state of personal finances and local job prospects has helped Vietnam emerge as the fourth most optimistic country in the world in Q1 of 2018. […]