Int’l press highlights Vietnam’s impressive economic development

• PM urges strong changes in Vietnam-Singapore economic partnership
• PM: Breakthrough institutions needed for special administrative-economic units
• Viet Nam’s economic growth to remain high absent trade shocks

German finanzen.net reveals the secrets that help Vietnam become more attractive to foreign investors. It noted that from August 2017 to early 2018, the Hanoi stock market increased more than 60 percent thanks to the country’s efforts to continue opening door to investors. Gross domestic product (GDP) growth and retail sales were stable. The tourism industry was developing. Inflation was kept at a low level.

Forbes magazine evaluated that the Vietnamese government’s policies on foreign investment attraction, state asset equitsation and trade liberalisation remain stable and predictable.

China’s news agency Xinhua cited the latest report of the World Bank as saying that Vietnam received approximately US$13.8 billion in 2017, up 16 percent on year, being listed among the world’s top 10 recipients of remittances in 2017.

Indonesia’s daily newspaper Jakarta Globe carried a story saying the six agreements signed during the visit by Prime Minister Nguyen Xuan Phuc to Singapore will contribute significantly to Vietnam’s development.

Singapore is the third biggest foreign investor in Vietnam with over 1,800 projects. The smart cities network is Singapore's flagship initiative as the chair of ASEAN this year. Three major cities of Vietnam - Hanoi, Ho Chi Minh City and Da Nang - will be part of the network.

The Feedstuffs website said Vietnam is one of the countries within the Association of Southeast Asian Nations (ASEAN) with one of the fastest-growing economies in the world. For the first quarter of 2018, Vietnam’s gross domestic product (GDP) showed promising 7.4 percent growth, which will flourish its business throughout this year, according to a report from Charoen Pokphand Foods Public Co. Ltd. (CPF) - one of the first Thai companies that invested in Vietnam via CP Vietnam Corp.

“The Vietnamese government has plans to increase its seafood exports, especially of shrimp. It is forecasted that Vietnam's shrimp exports will increase from 690,000 tonnes in 2017 to 830,000 tons in 2018 and to 1.14 million tons by 2025. This will make Vietnam one of the largest shrimp producers in the world.”

Russian newspaper Kommersant ran a story saying Vietnamese dishes have become popular in Yekaterinburg city, the capital of the Urals region, with population of over one million. 

At present, there are 19 places that can enjoy Vietnamese cuisine, of which eight are only serving Vietnamese food. This shows more and more Russians appreciate the rich gastronomy of Vietnam.