Source: World Bank (2008) and International Monetary Fund (IMF) (2008). With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. 6. Chuyn gia World Bank: "Tng trng tn dng 18% ca Vit Nam qu cao!" World Bank: 6.3% growth in 2017 suitable for Vietnam. Vietnam's Constitution holds that land and other natural resources are . Vietnam At-A-Glance Vietnam's development over the past 30 years has been remarkable. Looking ahead, GDP is expected to rebound to 5.5 percent growth in 2022 in a scenario where the pandemic is under relative control both at home and abroad. It examines the country's growth performance, its external balance, and monetary and fiscal policy responses during the first half of 2022. It . Taking Stock: An update on Vietnam's recent economic developments, December 2018. The economy bounced back after the Q3-2021 COVID related lockdowns, growing by 5.2 percent in Q4-2021 and by 6.4 percent in the first semester of 2022. Monday, August 08, 2022 17:38. In Hanoi. According to Turk, the global economy has been experiencing a series of very large and negative shocks, including ongoing Covid-19-related . World Bank; Posted Vietnam : taking stock (Vietnamese). With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions . Vietnam's GDP growth is forecast to expand 7.5% in 2022 and 6.7% in 2023, with resilient . For the Consultative Group Meeting for Vietnam. Vietnam's economy is estimated to grow by 2.58 percent for the year. Ha Ni, December 10, 2012. Economic Growth -- The report examines how Vietnam's economy has fared in a strengthening global economy in 2017, the drivers of Vietnam's recent economic performance, growth prospect and the country's progress in . In its bi-annual report "Taking Stock: Educate to Grow" released earlier in August, the global development bank said that "Vietnam needs a workforce with 21 st century-skills to grow. The WB released the predictions in the report 'Taking Stock: Educate to Grow,' its . HXLated csv containing Financial Sector indicators. 7. . Vietnam's economic growth could reach 6-6.2 percent this year underpinned by further recovery in domestic demand, in turn reflecting robust private consumption and investment growth, according to the World Bank's latest Taking Stock report. Stock market return (%, year-on-year) in Vietnam was reported at --8.4187 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. The . According to the latest economic update by World Bank (WB) for Vietnam, the country's economy expanded 5.2 percent in Q4 of 2021, and respectively 5.1 percent and 7.7 percent in Q1 and Q2 of 2022. . Economic and political reforms under i Mi, launched in 1986, have spurred rapid economic growth, transforming what was then one of the world's poorest nations into a lower middle-income country. The figure was released at a press conference held on August 24 to announce the latest edition of Taking Stock - the WB's biannual update on Vietnam's economic performance. (Photo: VNA) In its bi-annual report, the lender said: "Vietnam needs a workforce with 21st century skills to grow. 8/24/2021 11:52:00 AM. Document Type. The impact was severe in the first quarter of 2009, when GDP increased by 3.1 percent compared to the same period in 2008 (Figure 3). We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. The World Bank (WB) has projected Vietnam's GDP to expand by 4.8 percent in 2021, two percentage points lower than its previous prediction in December 2020. The World Bank said that Vietnam's near-term outlook has improved over the past six . Photo credit: Bloomberg. TAKING STOCK An Update on Vietnam's Recent Economic Developments 7 EXECUTIVE SUMMARY Recent Economic Developments Global growth is projected to pick up to 3.4 percent in 2015 and 3.5 percent in 2016, propelled by high-income countries. The figure was released at a press conference held on August 24 to announce the latest edition of Taking Stock - the WB's biannual update on Vietnam's economic performance. The emphasis should be on three market failures that will require smart interventions by the government. East Asia and Pacific (EAP) Topics. of cleaner trade for Vietnam . Vietnam's economy has grown by 5.2 per cent in Q4-2021 . Vietnam - Stock market return (%, year-on-year) - actual values, historical data, forecasts and projections were sourced from the World Bank on August . ; World Bank eLibrary - York University.] World Bank 3 RECENT GROWTH PERFORMANCE The global financial crisis led to a sharp slowdown of economic growth in Vietnam. Vietnam's economic growth forecast at 7.5% in 2022: World Bank. Vietnam's economic growth is forecast to surge from an estimated 2.6 percent in 2021 to 7.5 percent in 2022, while inflation is projected to average 3.8 percent over the year, according to the report, "Taking Stock: Educate to Grow," the World Bank's bi-annual economic outlook for Vietnam. It also includes a special section on the government's efforts to reduce trade costs and enhance competitiveness. Country. Language. In its bi-annual report, the lender said: "Vietnam needs a workforce with 21st century skills to grow. Vietnam Will Need New Drivers of Growth to Consolidate Post-COVID-19 Recovery: Report. . The prediction was made in the latest edition of Taking Stock - the World Bank's biannual update on Vietnam's economic performance, titled "Digital Vietnam - The Path to Tomorrow". Taking Stock 4 Domestic consumption and investment remained strong in 2005. VDB Vietnam Development Bank WTO World Trade Organization . The World Bank forecast, which calls for the price of a barrel of oil to ease to $102 in 2013, and to $101 in 2015, reflects a technical assumption that oil prices will slowly decline between now and 2025 to a level consistent with the real cost of producing a barrel of oil from the Canadian tar sands using existing technology. WB External Site Moreover, inflation in the country is expected to average at 3.8 per cent over the year, according to a report released by the World Bank. Vietntam among world top 50 innovative countries. . The World Bank said in a Taking Stock report released on December 11 that domestic demand remained buoyant, fuelled by a low inflation rate and rising real wages, while global demand recovery helped Vietnam's manufacturing and agricultural sectors. Residents in Ho Chi Minh City try to cross a flooded road. Constitution of the Socialist Republic of Vietnam (2013), Article 53. Vietnam's prospects appear positive as the economy is projected to grow by about 6.8 percent in 2021 and, thereafter, stabilise at around 6.5 percent, according to the latest World Bank's . As the economy moves from being driven . TAKING STOCK JANUARY 2022 NO TIME TO WASTE The challenges and opportunities of cleaner trade for Vietnam. Indicators: 5-bank asset concentration, ATMs per 100, Account at a formal financial institution, Account ownership at a financial institution or with a mobile-money-service provider, Account used for business . An action plan for restructuring and consolidation of the banking sector is reportedly being drafted. Photo: Quynh Danh/Zing News. From the Last Mile to the Next Mile ix. The World Bank has predicted Vietnam's GDP this year to expand by 6.6% in 2021, 0.1 percentage point higher than the government's target at 6.5%. The rebound of the economy will be supported by a more accommodating fiscal policy, at least in the first part of 2022. During the meeting with Chairman of Ho Chi Minh City People's Committee Phan Van Mai, the two sides discussed key challenges . World Bank. viii 2022 Vietnam Poverty and Equity Assessment. World Bank Metadata Show full item record The report examines economic developments in Vietnam in 2018, including its strong trade performance, increased FDI inflows, and public debt stabilization, among others. Rang Dong Light Bulb and Thermos Joint Stock Company (Que Vo, Bac Ninh province) has implemented many solutions to both . April 6, 2022. Presentation. AN UPDATE ON VIETNAM'S RECENT ECONOMIC DEVELOPMENTS. However, this positive outlook is subject to . sector. Jacques Morisset,Dorsati Madani. Vietnam's economy rebounded in the first half of 2022. HANOI Vit Nam's economic growth forecast this year has been readjusted from 6.5 per cent to 5.3 per cent by the World Bank (WB), according to its latest economic growth update.. WB's Chief Economist of the East Asia and Pacific Region of the World Bank Aaditya Mattoo said the main reasons behind the Southeast Asian economy's lower forecast were COVID-19 Omicron . NDO/VNA - Vietnam's prospects appear positive as the economy is projected to grow by about 6.8% in 2021 and, thereafter, stabilise at around 6.5%, according to the latest World Bank's economic update for Vietnam "Taking Stock". Prepared by the World Bank Vietnam Mid-Year Consultative Group Meeting for Vietnam Nha Trang, June 9 - 10, 2006 Public Disclosure Authorized 37886 . Public Disclosure Authorized TAKING STOCK JANUARY 2022 Public Disclosure Authorized Public Disclosure Authorized . Hanoi - Vietnam will need a skilled workforce to transform itself into an upper-middle-income economy by 2035, the World Bank has suggested in its recently-released report named "Taking Stock: Educate to Grow". Vietnam will need a skilled workforce to transform itself into an upper-middle-income economy by 2035, the World Bank has suggested in its recently-released report named "Taking Stock: Educate to Grow". In a press conference held Tuesday, World Bank officials said Vietnam's GDP has expanded by 6.8% in 2019, while public debt has fallen by almost 8% since 2016. . The World Bank Group works in every major area of development. Activity. THE WORLD BANK Hanoi, July, 2014. . Vietnam's economy shows fundamental strength, with stable and positive medium term outlook. . The World Bank estimated that Vietnam was home to 110 super-rich citizens in 2013, meaning individuals with assets of US$30 million or more excluding a principal residence. @2022 The World Bank 1818 H Street NW, Washington DC 20422 Telephone: 202-473-1000 . The forecast was made in the latest edition of Taking Stock - the World Bank's biannual update on Vietnam's economic performance released today - highlighting the economic pains associated with the most recent COVID-19 outbreak. The . This report has been prepared by Deepak Mishra and Viet Tuan Dinh with contributions from Shubham Chaudhuri, Quang Hong Doan, Sameer Goyal, Valerie Kozel, Habib Rab and . in semi-annual Taking Stock reports as well as monthly Vietnam Macro Monitors. Vietnam Taking Stock Washington, D.C. : World Bank Group. Prepared by the World Bank . English. Taking Stock is the World Bank's bi-annual economic report on Vietnam. Vietnam had taken a series of small steps starting in October to begin to tighten monetary policy, capped by last week's currency devaluation and interest rate hike. Vietnam needs a skilled workforce to become an upper-middle-income economy by 2035, the World Bank has suggested in its recently-released report named "Taking Stock: Educate to Grow". Photo: Thanh Hai. Last month, Vietnam and the World Bank signed the credit agreement for a loan that is historic for the rapidly developing country. The rebound was driven by a robust growth in manufacturing exports to Vietnam's main export markets (US, EU, and China). As of early July 2020, life in Hanoi appears to be back to normal or close to what it used to be before the COVID-19 (Coronavirus) pandemic. 2014. Authorities are taking a number of steps to address these concerns. Amidst rising global headwinds, Vietnam's economic growth momentum has been slowing since the beginning of the year. Vietnam's economy is rebounding from the COVID-19 crisis, with its gross domestic product (GDP) expected to jump to a 7.5 percent growth rate in 2022 from a 2.6 percent increase last year , while inflation is projected to stay at 3.8 percent, according to a World Bank (WB) economic update for the country.. Carolyn Turk, WB Country Director for Vietnam, said that the report lays out a set of policy recommendations that could help mitigate the impact of risks and make the economy more resilient going forward. As the economy moves from being driven by low-skill and low-wage jobs in manufacturing and services towards a more innovation driven growth model built on . . The report entitled The Taking Stock estimates that Vietnam's GDP will continue to grow 5.5 percent by 2015. Taking Stock, December 2017 : an Update on Vietnam's Recent Economic Developments.. [World Bank Group. Metadata. The government's policy helped contain the virus and con. Although this performance is about 4.2 percentage points lower than the country's recent performance, Vietnam will remain in positive growth territory, while the world economy is expected to contract by at least 4 percent.