ADB Country Director for Vietnam Eric Sidgwick (Source: laodong.vn)
Hanoi (VNA) - The Asian Development Bank forecasts Vietnam’s economy to growby 6.8 percent in 2019 and 6.7 percent in 2020.
In its flagship annual economic publication, Asian Development Outlook (ADO)2019, the ADB said Vietnam’s economy remains strong growth momentum thoughmoderating amid weakening global outlook.
Speakingat a press conference held in Hanoi on April 3 to announce the publication, ADBCountry Director for Vietnam Eric Sidgwick said that the economic performancein Vietnam reached a sweet spot in 2018, driven by strong exports and domesticdemand.
Economicgrowth will likely hold up well in the near term, supported by export-orientedmanufacturing, foreign direct investment, and sustained domestic demand. Thegrowth momentum is expected to continue, thanks to ongoing reforms to improvethe business environment and encourage private investment,” he added.
Vietnam’s inflation is expected to average 3.5 percent in 2019 and 3.8 percentin 2020, the report said.
According to the report, growth will continue to be broad-based, underpinned byrobust private consumption, the continued expansion of manufacturing, services,and agriculture, and greater market access for Vietnam’s exports throughvarious free trade agreements, including the recently ratified theComprehensive and Progressive Agreement for Trans-Pacific Partnership
It also mentionedrisks for Vietnam’s economy, saying that the world’s major economies -Vietnam’skey trading partners- are weakening. Vietnam is one of the most trade-dependentcountries in the region, with trade volume reaching twice the size of its grossdomestic product (GDP).
Domestically, lackluster progress in state-owned enterprises reform could be adrag on growth, it added.
The report underlined the importance for Vietnam to strengthen private firms’integration in the global value chains (GVCs), which is a key policy challengefor Vietnam’s long-term growth.
Improving small-and medium-sized enterprises’ (SMEs) access to finance, andenhancing SMEs’ capability, including workers’ skills, are among importantmeasures to enable SMEs to better adopt new technologies and have more valueaddition in GVCs, it stressed.-VNA
The Asian Development Bank (ADB) has approved a 100 million USD loan to develop Vietnam’s finance sector, aiming to support long-term economic growth and tackle rising income inequality.
The Asian Development Bank (ADB) has approved a 78-million-USD financing package to help Vietnam’s labour force meet market demands by improving the quality of national technical and vocational education and training (TVET) institutions.
Many developing countries in the Asia-Pacific region still face "considerable challenges," especially in creating the sustainable financing needed for the local welfare programmes.
A delegation from the Asian Development Bank (ADB) had a working session with the People’s Committee of Binh Duong on February 22 to discuss cooperation in investing in environmental projects in the southern province.
The Asian Development Bank (ADB) and the World Bank (WB) have decided to use the Vietnam National E-Procurement System (VNEPS) to conduct online bidding for construction and goods supply contracts for their projects.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
ADB Country Director for Vietnam Eric Sidgwick (Source: laodong.vn) 
