Vietnam new Asian tiger: Singapore Business Times

[Viet]

​

Hanoi (VNA) – Vietnam is expected to accelerate its economic recovery from the pandemic this year after having recorded a 2.6 percent increase in gross domestic products (GDP) in 2021, Singapore’s Business Times reported.

Once among the poorest countries in the world, its economy is now booming and the World Bank describes it as one of the most dynamic and emerging countries in the entire East Asia region, Business said in an article published last week, calling Vietnam a “new Asian tiger.”
Singapore’s DBS Group Research forecasts Vietnam's GDP growth to reach 8 percent in 2022, boosted by an accommodative monetary policy. The International Monetary Fund (IMF) has predicted that Vietnam will climb three spots to rank third in GDP among ASEAN member states this year, thanks to the fast-growing middle class and the rise of ultra-rich people.

Knight Frank’s latest Wealth Report estimates there were about 19,500 high-net-worth individuals in Vietnam in 2020, defined as those with assets of at least 1 million USD, the article said. By 2025, that number is expected to grow by almost 25 percent to top 25,000, it added.
Business Times attributed the robust growth of the economy to increasing flows of foreign investment into the country. Many Singapore companies, including CapitaLand and Keppel, have invested heavily in the country as they seize the abundant opportunities.

“Vietnam has long been known as Southeast Asia's coding farm, where talent and wages are in a sweet spot for companies to use it as a base for their technical development,” it noted.

The article also referred to Vietnam as the largest solar power producer in Southeast Asia today with 16.6 gigawatts of installed capacity as of 2020. Vietnam's construction industry is set to continue its recovery in 2022 as several large-scale infrastructure projects move through different stages of development, it further said.

Source: VNA

 

[AViet]

Vietnam is a tiger economy as much as India or Nigeria are superpowers.

Such hot air, rosy-painting trash articles are now everywhere on media, especially Western media.

In 2020 - 2021, Vietnam finally realized how weak, dependent and sensitive our economy was to outside markets, especially China. Vietnam does not have any significant technologies or equipment manufacturing capability (again, thank to Southern-born leaders, They killed all). The quality of workforce is not so good (together with other factors, but this is the main reason) that FDI will avoid China to flow to Vietnam.

Before Tet, thousands of Vietnamese trucks to transport tropical fruits from the South were queuing at China-Vietnam border crossings in Lao Cai, Lang Son and Quang Ninh provinces. Just an example to see how dependent we are on China.

In the meantime, Southern-born leaders have been always acting like Indian: have soft ear (i.e. easy to be cheated by Western institutions), talk big, emotional but deliver nothing. Thank God now Mr. Pham Minh Chinh assumed the post of Prime Minister in 2021, otherwise we would see economic disaster within 5 years.

 

[Song Hong]

Vietnam is a tiger economy as much as India or Nigeria are superpowers.

Such hot air, rosy-painting trash articles are now everywhere on media, especially Western media.

In 2020 - 2021, Vietnam finally realized how weak, dependent and sensitive our economy was to outside markets, especially China. Vietnam does not have any significant technologies or equipment manufacturing capability (again, thank to Southern-born leaders, They killed all). The quality of workforce is not so good (together with other factors, but this is the main reason) that FDI will avoid China to flow to Vietnam.

Before Tet, thousands of Vietnamese trucks to transport tropical fruits from the South were queuing at China-Vietnam border crossings in Lao Cai, Lang Son and Quang Ninh provinces. Just an example to see how dependent we are on China.

In the meantime, Southern-born leaders have been always acting like Indian: have soft ear (i.e. easy to be cheated by Western institutions), talk big, emotional but deliver nothing. Thank God now Mr. Pham Minh Chinh assumed the post of Prime Minister in 2021, otherwise we would see economic disaster within 5 years.

I guess the port is Haiphong. I been to Lao Cai and Quang Ninh land border. Not much used other than petty border trade

 

[Viet]

Vietnam is a tiger economy as much as India or Nigeria are superpowers.

Such hot air, rosy-painting trash articles are now everywhere on media, especially Western media.

In 2020 - 2021, Vietnam finally realized how weak, dependent and sensitive our economy was to outside markets, especially China. Vietnam does not have any significant technologies or equipment manufacturing capability (again, thank to Southern-born leaders, They killed all). The quality of workforce is not so good (together with other factors, but this is the main reason) that FDI will avoid China to flow to Vietnam.

Before Tet, thousands of Vietnamese trucks to transport tropical fruits from the South were queuing at China-Vietnam border crossings in Lao Cai, Lang Son and Quang Ninh provinces. Just an example to see how dependent we are on China.

In the meantime, Southern-born leaders have been always acting like Indian: have soft ear (i.e. easy to be cheated by Western institutions), talk big, emotional but deliver nothing. Thank God now Mr. Pham Minh Chinh assumed the post of Prime Minister in 2021, otherwise we would see economic disaster within 5 years.

Why you are angry? What North and South Vietnamese to do with the news Vietnam can grow 8 pct? They are different humans or what?
You accuse VNA, a Vietnamese government state media as India propaganda?

 

[hualushui]

Vietnam has the potential to be the next South Korea. However, potential is potential, but the Vietnamese government needs to turn potential into reality.
The Western media is overly touting Vietnam. This is because of political necessity. They need an export economy to replace China.
However, sensible Vietnamese should realize that Vietnam's economy is still in its infancy. Do not forget how the 1997 Southeast Asian financial crisis and the US dollar tide destroyed Thailand, Malaysia, the Philippines, and Indonesia.
Now, Vietnam has a lot of foreign debt, and the United States will soon raise interest rates. This is a lot like the situation in 1997. Vietnam must be careful and survive this crisis of US interest rate hikes in order to continue to develop, otherwise there will be a Vietnamese version of the "lost 20 years"

 

[ChineseTiger1986]

Vietnam is a tiger economy as much as India or Nigeria are superpowers.

Such hot air, rosy-painting trash articles are now everywhere on media, especially Western media.

In 2020 - 2021, Vietnam finally realized how weak, dependent and sensitive our economy was to outside markets, especially China. Vietnam does not have any significant technologies or equipment manufacturing capability (again, thank to Southern-born leaders, They killed all). The quality of workforce is not so good (together with other factors, but this is the main reason) that FDI will avoid China to flow to Vietnam.

Before Tet, thousands of Vietnamese trucks to transport tropical fruits from the South were queuing at China-Vietnam border crossings in Lao Cai, Lang Son and Quang Ninh provinces. Just an example to see how dependent we are on China.

In the meantime, Southern-born leaders have been always acting like Indian: have soft ear (i.e. easy to be cheated by Western institutions), talk big, emotional but deliver nothing. Thank God now Mr. Pham Minh Chinh assumed the post of Prime Minister in 2021, otherwise we would see economic disaster within 5 years.

Only some northerners understand that China's model is always a true inspiration for Vietnam.

Regardless the geopolitical conflicts, the common sense will tell you that China's model is the only functional role model for Vietnam.

 

[ChineseTiger1986]

Why you are angry? What North and South Vietnamese to do with the news Vietnam can grow 8 pct? They are different humans or what?
You accuse VNA, a Vietnamese government state media as India propaganda?

Because @AViet is a northerner, while you are a southerner.

He talks about the reality, while you can't cope with the reality.

The neoliberal policies from the southern faction will eventually bring disaster to your country, and your current out of control housing price is just a symptom from the beginning.

 

[REhorror]

Hasn't it always been this way?
Slow and steady but sure to victory, that's the Vietnam way.

 

[Viet]

Because @AViet is a northerner, while you are a southerner.

He talks about the reality, while you can't cope with the reality.

The neoliberal policies from the southern faction will eventually bring disaster to your country, and your current out of control housing price is just a symptom from the beginning.

He talks trash on Vietnam because he is Hoa. That is ok. However a boring tactic repeatedly mention the differences between north and south. He means we are like of the situation in Ukraine. The west leans on Nato while the separatists lean on Moskow.

 

[Indos]

With the current economy, Vietnam should be able to refurbished and modernize its current sport complex for the 2022 SEAGAMES. I want to see Vietnam SEAGAMES 2022 promotion video which until now is still not exist.

 

[Viet]

Vietnam has the potential to be the next South Korea. However, potential is potential, but the Vietnamese government needs to turn potential into reality.
The Western media is overly touting Vietnam. This is because of political necessity. They need an export economy to replace China.
However, sensible Vietnamese should realize that Vietnam's economy is still in its infancy. Do not forget how the 1997 Southeast Asian financial crisis and the US dollar tide destroyed Thailand, Malaysia, the Philippines, and Indonesia.
Now, Vietnam has a lot of foreign debt, and the United States will soon raise interest rates. This is a lot like the situation in 1997. Vietnam must be careful and survive this crisis of US interest rate hikes in order to continue to develop, otherwise there will be a Vietnamese version of the "lost 20 years"

When the US Fed raises interest rates I bet the bank of China will follow.

 

[MH.Yang]

This article underestimates Vietnam. Vietnam is the new Asian little dragons because it has the ability to escape the middle-income trap.

 

[MH.Yang]

When the US Fed raises interest rates I bet the bank of China will follow.

Don't talk nonsense if you don't understand.

The balance sheet of the Central Bank of China has been stable around 38 trillion CNY for more than two years, but China's GDP has increased by $4 trillion in the past two years.
You should see that under the global inflation last year, China's CPI was only 0.8%.
At present, China's PPI base value is so high that if the Chinese govt still dares to raise interest rates, China will have a decline in consumption and economic deflation. So China will certainly not raise interest rates.

 

[Viet]

Don't talk nonsense if you don't understand.

The balance sheet of the Central Bank of China has been stable around 38 trillion CNY for more than two years, but China's GDP has increased by $4 trillion in the past two years.
You should see that under the global inflation last year, China's CPI was only 0.8%.
At present, China's PPI base value is so high that if the Chinese govt still dares to raise interest rates, China will have a decline in consumption and economic deflation. So China will certainly not raise interest rates.

$4 trillion? Wow! not bad that’s about Germany’s Gdp.

US raising key interest rate is not only fighting inflation you oversee a side effect most other countries fear. Ok China probably not.

 

[REhorror]

In fact, in the future, it would be rise of China + Vietnam due to the stable and proven Marxist-Leninist government and economy.
Japan and S. Korea would be heavily affected when the US influence starts to wane and the rest of Asia start to modernize, they can count their days now, in fact.