+ According to the Quarterly Global Outlook 2021 recently released by the United Oversea Bank (UOB), Vietnamese GDP growth is anticipated to expand 7.1% this year, to be driven by strong exports and foreign investment attraction.

+ Japan made up the largest source of registered capital during the first two months, pouring in roughly US$1.5billion, followed by Singapore with US$861.1 million and China with US$374.9 million.

+ The Interoperable QR Code for retail payment linkage between Vietnam and Thailand was launched on March 26, signifying the successful implementation of the cooperation in the area of financial innovation between the State Bank of Vietnam (SBV) and the Bank of Thailand (BOT) which began in 2019. The service banks which provide this cross-border QR payment service to their customers via their mobile banking applications include Tien Phong Commercial Joint Stock Bank (TP Bank), The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) from Vietnam, and Bangkok Bank from Thailand.

+ This year, Vietnam’s textile and apparel industry stands ready to sell more than the previous year. The Vietnam Textile and Apparel Association (VITAS) forecasts that the industry will reach about $37-38 billion, up from $35.3 billion in 2020, but will continue to face difficulties due to the impacts of COVID-19. 

+ Government and corporate bonds comprised 82.8% and 17.2% of the local currency bond market, respectively, at the end of December 2020. Vietnam’s local currency bond market posted yearly growth of 31.7% to reach VND1,640.8 trillion (US$71 billion), according to the latest edition of the Asian Development Bank (ADB)’s Asia Bond Monitor. 

+ As revenues from traditional telecoms services like calls, SMS, and Internet provision are significantly affected due to price competitions, giant telecoms enterprises in Vietnam such as VNPT, Viettel, and MobiFone have decided to turn to digital technologies for more profits. 

+ Credit growth is expected to reach 12-13 per cent this year despite modest growth in the first quarter. First-quarter credit would hardly jump in the first quarter due to still low aggregate demand
According to figures from Hanoi Statistical Office, credit only expanded by 0.6 per cent in the first two months of this year. The total outstanding balance reached VND2.217 quadrillion ($96.06 billion), up 0.2 per cent on-month.

+ Vietnam’s Ministry of Transport plans to shift inland logistics to favor waterway, rail road, and air transportation as a direct result of increased logistic costs due to an overly reliance on road transport across the country. 

Source: Vietnamnet/VNA/VNS/VOV/VIR/SGT/Nhan Dan/Hanoitimes