Mekong Memo Vietnam 20230921
Mekong Memo Vietnam Weekly, September 21, 2023: Business, politics, finance, trade & legal news.
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With that said, here is your Mekong Memo Vietnam for the week of September 21, 2023:
Navigating the Tightrope: Vietnam's Economic Future
Vietnam's Ministry of Planning and Investment has outlined three economic growth scenarios for 2024, with the highest GDP growth rate projected at 6.5%. This comes amid challenges from 2021-23 and aims to meet the 2023 growth goal of 6.5%. On the other hand, global economic headwinds are making it difficult for Vietnam to achieve its growth targets. Exports have dropped, and major markets like China and the U.S. are slowing down. Despite these challenges, there is cautious optimism for recovery, influenced by both domestic and global factors.
Moody's Breaks Ground in Vietnam's Credit Rating Market
U.S.-based Moody's has gained entry into Vietnam's credit rating market through its 49% stake in Vietnam Investors Service and Credit Rating Agency (VIS Rating). This milestone follows strengthened U.S.-Vietnam relations and comes as Vietnam tightens its corporate bond regulations. Starting next year, companies issuing bonds worth over 500 billion dong will be required to obtain credit ratings. The move is expected to enhance transparency and investor confidence in Vietnam's burgeoning bond market.
Read more: Yahoo Finance
Vietnam's Remarkable Economic Transformation
Vietnam has undergone a transformative journey from its war-torn past to becoming a rising star in the global economy. Celebrating its Independence Day with nationwide festivities, the country reflects on its history and its economic ascent, driven by policies like Doi Moi and significant foreign investments. Despite challenges like traffic jams and economic inequality, Vietnam's resilience and entrepreneurial spirit shine through. The country has even overtaken the Malaysian economy, and its future, although impacted by global economic shifts, remains promising.
Read more: New Straits Times
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