Simply Economics, from Mexico

Vietnam’s Economic Boost, Concerns Over Thai Recovery

Banks underpin economic growth in Vietnam with over $33.5 billion injection. The Thai economy does not present signs of a rapid recovery, according to the Minister of Finance. Simply Economics provides in-depth coverage of Vietnam's economic development and explores the challenges faced by Thailand. Gain valuable insights into government policies and the potential for further economic growth in Vietnam and the implications for the global economy.Sources:https://www.prensa-latina.cu/2024/07/15/bancos-apuntalan-crecimiento-de-economia-en-vietnam/https://es.marketscreener.com/noticias/ultimas/La-econom-a-tailandesa-no-presenta-signos-de-una-r-pida-recuperaci-n-seg-n-el-ministro-de-Finan-47378894/Outline:(00:00:00) Introduction(00:00:36) Banks underpin economics growth in Vietnam

Duration:: 3m
Broadcast on:: 15 Jul 2024
Audio Format:: mp3

Banks underpin economic growth in Vietnam with over $33.5 billion injection. The Thai economy does not present signs of a rapid recovery, according to the Minister of Finance. Simply Economics provides in-depth coverage of Vietnam's economic development and explores the challenges faced by Thailand. Gain valuable insights into government policies and the potential for further economic growth in Vietnam and the implications for the global economy.

Sources:
https://www.prensa-latina.cu/2024/07/15/bancos-apuntalan-crecimiento-de-economia-en-vietnam/
https://es.marketscreener.com/noticias/ultimas/La-econom-a-tailandesa-no-presenta-signos-de-una-r-pida-recuperaci-n-seg-n-el-ministro-de-Finan-47378894/

Outline:
(00:00:00) Introduction
(00:00:36) Banks underpin economics growth in Vietnam

Good morning, and welcome to Simply Economics from Mexico. It's Monday, July 15th. On today's show, banks underpin economic growth in Vietnam, and the Thai economy does not present signs of a rapid recovery according to the Minister of Finance. This coverage and more up next. I'm David, and you're listening to Simply Economics from Mexico. We start off with some positive economic news out of Vietnam. The country's economy is getting a boost from government initiatives aimed at stimulating growth in key sectors. Vietnam has injected over $33 billion into the economy in the first half of the year alone. For more on this, we turn to our correspondent in Vietnam. Can you give us an overview of these government initiatives and their impact so far? The Vietnamese government has launched several initiatives to stimulate economic growth, particularly in affordable housing, forestry, and fisheries. These include a $5 billion credit package for affordable housing and another $1.2 billion for forestry and fisheries. The goal is to encourage companies to develop in these priority areas. According to the latest figures, more than half of the $33.5 billion injected into the economy in the first six months of the year were dispersed just last month in June. It sounds like these initiatives are already having a significant impact. What do the latest credit growth figures show? Credit growth in Vietnam is definitely on an upward trend. This suggests that the government's policies, such as tax and tariff reductions and favorable loans from commercial banks, are proving effective in stimulating the economy. Experts from Viet Cong Bank Securities Company forecast that credit growth will reach between 12 and 13 percent year on year in 2024. Some analysts like those at MB Securities Company are even more optimistic projecting growth of up to 14 percent. Those are certainly encouraging projections for Vietnam's economic outlook. Do you think these government initiatives will continue to drive growth in the coming years? It seems likely, given the positive trends we're seeing so far. The focus on sectors like affordable housing, forestry and fisheries shows a strategic effort to stimulate growth in areas that can have a broad economic impact. Of course, sustaining this momentum will require continued investment and supportive policies from the government. But if these initiatives remain effective, they could help position Vietnam for robust growth in 2024 and beyond. It will certainly be interesting to watch Vietnam's economic trajectory in the coming years. Thank you for your insights today, David. And with that, we wrap up our stories for today. Thanks for listening to Simply Economics from Mexico. We'll see you back here tomorrow. [MUSIC] You