While many enterprises are excited by the shifting wave of investment to Vietnam as the US-China trade war intensifies, Dr Mai Huu Tin, U&I Group President warned that Vietnam might just be a stopgap.
There are three reasons why economist Vu Thanh Tu Anh was pessimistic about Vietnam’s economic outlook in 2019: the declining global economy, the unpredictable impacts of the US-China trade war on Vietnam, and Vietnam’s complicated socio-economic issues.
If inequality was not increasing, Vietnam’s poverty reduction record would be even better, according to the leading international non-governmental organization Oxfam.
Vingroup said that it is willing to take risks, even trade-off some short-term economic benefits to concentrate all its resources on automobile project VinFast.
The disagreement leads to collaboration but can also lead to friction and stagnation if not done correctly.
The London-based financial and business information firm FTSE Russell has recently announced that it added Viet Nam, currently classified as a Frontier market, to the watch list for possible reclassification as Secondary Emerging.
For a country which is experiencing the early stage of development like Vietnam, nationalism will become a driving force for economic growth, according to Professor Tran Van Tho.
Technology is booming and chief financial officers need to utilize the opportunities from new trends, especially for young economies like Vietnam, in order to ensure growth, productivity, and cost reduction, according to Chairman of the International Association of Financial Executives Institutes (IAFEI) Fausto Cosi.
Thailand has more than 50 million residents but welcomes 35.4 million foreign visitors while Vietnam can only attain half as much as that figure despite nearly doubling in population.
Even China awaits after the US elections to devise appropriate strategy so Vietnam must wait for response accordingly.
