Vietnam’s economy grows at fastest pace since a decade

[Viet]

Bloomberg By Giang Nguyen and Mai Ngoc Chau
29 March 2018, 03:57 CEST

Vietnam’s economy continued to post stellar growth in the first quarter, fueled by an export boom.

Gross domestic product rose 7.38 percent in the first quarter from a year earlier, the General Statistics Office said in Hanoi on Thursday.

Vietnam has outperformed most of its Southeast Asian peers as export growth remained resilient on the back of a global trade recovery last year. And even though the trade outlook has turned more gloomy this year amid rising tensions between the U.S. and China, the world’s two largest economies, Vietnam expects to sustain growth of about 7 percent.

https://www.bloombergquint.com/glob...-economy-expands-more-than-7-in-first-quarter

 

[NoOne'sBoy]

Vietnam will surely be the next Asian tiger

 

[Viet]

Vietnam will surely be the next Asian tiger

in 10 years at current pace, faster if we can achieve 8 or more higher growth rate.

 

[AViet]

Look good, but not as promising as it seems. Nothing of Vietnam today looks like Taiwan or Korea 60 years ago.

Since 1960s, Korea started to design and manufacture their own nuclear reactor. Their first line of subway (Seoul - Incheon) was built in early 1970, with mostly their own tech. North Korea could manufacture in large quantity (and good quality as well) their electric locomotives since 1960 - 1970s, or even turbines for power plant (which India cannot manufacture now for sure. If there is something built by Larsen and Tubro, they are mostly screw-driving works with imported components).

In Vietnam, the tiny heavy industry is slowly dying: Machine tools, tractors, diesel engines, gas engines, and being replaced by assembly line, which assemble cars, tractors etc. with from imported components. Even small items like electronic fans (Dien Co Thong Nhat), padlock (Viet Tiep, Minh Khai), bicycles (Thong Nhat) which Vietnam used to manufacture with good quality are being replaced by products actually made in China or elsewhere (but the brands are still Vietnamese).

I was at Minh Khai street to buy a padlock. One was "manufactured" by Viet Tiep, one was "manufactured" in Italy, as I was told. Both looked almost exactly the same. Very likely that both were manufactured in China (perhaps even same factory), but one was imported by Viet-Tiep and the other by some Italian manufacturers. Both want to retain their brands, but outsource all engineering and manufacturing works to China, because China can make it cheaper and better.

Yes, developing, but more similar to Thailand or Malaysia, not Korea or Taiwan.

 

[pher]

in 10 years at current pace, faster if we can achieve 8 or more higher growth rate.

Projected by your current behavior, it is highly likely you will be destroyed in 10 years, and totally disappear in 20 years.

As I said before, it is a miracle for you to exist under our nose for over 1000 years. But enough is enough, you will stop your existence soon, together with your jap brothers.

 

[AViet]

However just get some fun and enjoy the life. Let do as our Indian friends do: be delusional.

Vietnam today ($2200 per capita) is much richer than South Korea 60 years ago (GDP per capita of $90 - 100) and equal to Korea in 1985. So within 30 years, Vietnam will be like Korea of today.

 

[Viva_Viet]

Look good, but not as promising as it seems. Nothing of Vietnam today looks like Taiwan or Korea 60 years ago.

Since 1960s, Korea started to design and manufacture their own nuclear reactor. Their first line of subway (Seoul - Incheon) was built in early 1970, with mostly their own tech. North Korea could manufacture in large quantity (and good quality as well) their electric locomotives since 1960 - 1970s, or even turbines for power plant (which India cannot manufacture now for sure. If there is something built by Larsen and Tubro, they are mostly screw-driving works with imported components).

In Vietnam, the tiny heavy industry is slowly dying: Machine tools, tractors, diesel engines, gas engines, and being replaced by assembly line, which assemble cars, tractors etc. with from imported components. Even small items like electronic fans (Dien Co Thong Nhat), padlock (Viet Tiep, Minh Khai), bicycles (Thong Nhat) which Vietnam used to manufacture with good quality are being replaced by products actually made in China or elsewhere (but the brands are still Vietnamese).

I was at Minh Khai street to buy a padlock. One was "manufactured" by Viet Tiep, one was "manufactured" in Italy, as I was told. Both looked almost exactly the same. Very likely that both were manufactured in China (perhaps even same factory), but one was imported by Viet-Tiep and the other by some Italian manufacturers. Both want to retain their brands, but outsource all engineering and manufacturing works to China, because China can make it cheaper and better.

Yes, developing, but more similar to Thailand or Malaysia, not Korea or Taiwan.

Lets hope Vingroup and Thaco can manufacture some good VN cars.

And dont forget that we r good at exporting high quality seafoods while countries living in barren land and dirty desert like North Asia region can never compete wt us on this field.

 

[Viet]

Projected by your current behavior, it is highly likely you will be destroyed in 10 years, and totally disappear in 20 years.

As I said before, it is a miracle for you to exist under our nose for over 1000 years. But enough is enough, you will stop your existence soon, together with your jap brothers.

Ever tried vietnamese cafe? The stuff can ease your aggression. With money back garantine.

 

[AViet]

Lets hope Vingroup and Thaco can manufacture some good VN cars.

And dont forget that we r good at exporting high quality seafoods while countries living in barren land and dirty desert like North Asia region can never compete wt us on this field.

OK. Let's hope so. I am always optimistic.

 

[sinait]

Look good, but not as promising as it seems. Nothing of Vietnam today looks like Taiwan or Korea 60 years ago.

Since 1960s, Korea started to design and manufacture their own nuclear reactor. Their first line of subway (Seoul - Incheon) was built in early 1970, with mostly their own tech. North Korea could manufacture in large quantity (and good quality as well) their electric locomotives since 1960 - 1970s, or even turbines for power plant (which India cannot manufacture now for sure. If there is something built by Larsen and Tubro, they are mostly screw-driving works with imported components).

In Vietnam, the tiny heavy industry is slowly dying: Machine tools, tractors, diesel engines, gas engines, and being replaced by assembly line, which assemble cars, tractors etc. with from imported components. Even small items like electronic fans (Dien Co Thong Nhat), padlock (Viet Tiep, Minh Khai), bicycles (Thong Nhat) which Vietnam used to manufacture with good quality are being replaced by products actually made in China or elsewhere (but the brands are still Vietnamese).

I was at Minh Khai street to buy a padlock. One was "manufactured" by Viet Tiep, one was "manufactured" in Italy, as I was told. Both looked almost exactly the same. Very likely that both were manufactured in China (perhaps even same factory), but one was imported by Viet-Tiep and the other by some Italian manufacturers. Both want to retain their brands, but outsource all engineering and manufacturing works to China, because China can make it cheaper and better.

Yes, developing, but more similar to Thailand or Malaysia, not Korea or Taiwan.

Or rather somewhere in between towards the higher side.
.

 

[Viet]

Lets hope Vingroup and Thaco can manufacture some good VN cars.

And dont forget that we r good at exporting high quality seafoods while countries living in barren land and dirty desert like North Asia region can never compete wt us on this field.

both Vinfast and Thaco will soon produce more than 1,000,000 cars per year. Thailand produces 2,000,000 units. the first benchmark to take. Also the Thai have higher tourist number. but that will be a tougher nut to crack.

 

[Nilgiri]

Excellent news and best wishes to Vietnam to keep this up @Viet and friends.

I hope more Vietnamese companies tie up to export OEM manufactures to India (for assembly) and other countries in the region....while this window we are currently in lasts for some more years. We all can use your supply and you are more open to our supply too.

 

[UserUnknown2025]

Congratulations! I hope Vietnam will grow even faster in the years to come. I can't wait to see the diligent Vietnamese people put their ingenuity to some good work.

 

[Viva_Viet]

both Vinfast and Thaco will soon produce more than 1,000,000 cars per year. Thailand produces 2,000,000 units. the first benchmark to take. Also the Thai have higher tourist number. but that will be a tougher nut to crack.

VN is TPP nation when Thai is not allowed. France may soon transfer some good high tech to VN so we also can sell France products like good cars to ASEAN, TPP .

If u still.remember, its France who used Indochina to annex Thai's lands and make Bangkok is very near to Cambodia's border now. So, France may help VN again to take control Sub Mekong region

1893

 

[Beast]

Bloomberg By Giang Nguyen and Mai Ngoc Chau
29 March 2018, 03:57 CEST

Vietnam’s economy continued to post stellar growth in the first quarter, fueled by an export boom.

View attachment 462343

Gross domestic product rose 7.38 percent in the first quarter from a year earlier, the General Statistics Office said in Hanoi on Thursday.

Vietnam has outperformed most of its Southeast Asian peers as export growth remained resilient on the back of a global trade recovery last year. And even though the trade outlook has turned more gloomy this year amid rising tensions between the U.S. and China, the world’s two largest economies, Vietnam expects to sustain growth of about 7 percent.

https://www.bloombergquint.com/glob...-economy-expands-more-than-7-in-first-quarter

Vietnam is going in the right direction but 7% is still not good enough. Vietnam needs to speed up more infrastructure. Vietnam needs to lower the red tape for Chinese construction companies to bid more infrastructure projects. Chinese companies are the only one who can meet deadline while without burning a hole of Vietnam budget. Western and Japanese projects are too expensive and slow and not necessarily better than Chinese.

I am surprised until now,Vietnam rail is still very underdeveloped.