ANZ raises Vietnam's 2025 GDP growth forecast to 6.8pct from 5.5pct
The bank said Vietnam's GDP growth in the second quarter was much stronger than expected, and noted that the government had stepped up infrastructure spending this year.
"The Vietnam-US trade deal announced by President Trump has not been formally confirmed, but markets are comfortable with the proposed tariff rate," ANZ said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
5 minutes ago
- The Star
Laos eyes deal with United Arab Emirates to ease fuel shortage
Manothong Vongsay (right) meeting with Bader Abdullah Al Matrooshi in Vientiane. -- Ministry of Industry and Commerce VIENTIANE: The government is reaching out to the United Arab Emirates in a bid to secure more affordable fuel supplies and expand cooperation in trade, investment, and renewable energy. The proposal was made by Deputy Minister of Industry and Commerce Manothong Vongsay during a recent meeting in Vientiane with the Ambassador of the United Arab Emirates to Laos, Bader Abdullah Al Matrooshi, according to the Ministry of Industry and Commerce. As rising global fuel prices continue to place pressure on the Lao economy, Manothong asked the United Arab Emirates to consider providing fuel at a reduced price, to help ease the burden of domestic shortages and bring greater stability to the energy market. Laos currently imports fuel mainly from Vietnam, Thailand, Malaysia and Singapore. From January to June this year, the government spent more than US$557 million on diesel alone, according to figures from the Department of Foreign Trade published on the Ministry of Industry and Commerce's website. While the terms of a possible fuel partnership have not yet been disclosed, the two sides expressed interest in building a stronger foundation for long-term energy cooperation. Manothong also invited Emirati investors to explore business opportunities in Laos, saying that closer economic ties would benefit both countries. He encouraged more high-level visits from government and private sector representatives to enhance mutual understanding and open the door for further collaboration. Trade between Laos and the United Arab Emirates has grown steadily over recent years, with a combined value of more than US$96 million recorded from 2020-2024. During this period, Laos exported goods worth US$26 million to the United Arab Emirates, including chemicals, paper, tobacco, and clothing. In return, Laos imported products worth US$69 million, mostly comprising books and newspapers, plastic products, animal feed, crude oil, lubricants, engine oil and grease, mechanical equipment, and synthetic fibres. During the talks, the two delegations reaffirmed their commitment to renewable energy development and agreed to proceed with plans to sign a Memorandum of Understanding on renewable energy cooperation. The proposed agreement covers seven key areas, including the sharing of technical expertise, capacity building, development of new energy sources, and support for energy efficiency and conservation measures in Laos. The two delegations said they hoped the partnership would pave the way for a cleaner and more resilient energy future, while also strengthening diplomatic and economic ties. - Vientiane Times/ANN
New Straits Times
5 minutes ago
- New Straits Times
Japan says US investments under trade deal will be determined by benefits for Tokyo
TOKYO: Japan's promised US$550 billion in US investments under the trade deal struck last month will be determined by whether they will benefit Tokyo too, the Asian nation's top tariff negotiator said on Tuesday. Ryosei Akazawa's comments came after US President Donald Trump, in an interview with CNBC on Tuesday, compared the promised Japanese investment to "a signing bonus that a baseball player would get," adding, "that's our money. It's our money to invest, as we like." Washington struck a trade deal with Tokyo in July that sets a reduced rate of tariffs on Japanese goods, including autos, of 15 per cent in exchange for a US$550 billion package of US-bound investments and loans. Speaking to reporters on arrival in Washington, Akazawa described the financial package as "a commitment to invest in the US where there are benefits for Japan as well", like for building a supply chain in economic security areas. "At the very least, we can't cooperate on anything that does not benefit Japan," Akazawa said in his first visit to the US since the two countries reached the deal. Akazawa, however, added Trump will play a significant role in determining which projects to pursue as the money will be used for investments within the US and his desire to build a supply chain will be reflected in them. "It's not acceptable to ignore the US's intentions," he said. During his visit, Akazawa will seek to press his US counterparts for a quick implementation of the agreed cut to tariffs on auto imports from Japan. He also told reporters he would seek an explanation from US officials on the problem of "stacking", where goods can be affected by multiple tariffs. A Federal Register attached to Trump's July 31 executive order that addressed tariff rates for many trading partners showed a "no stacking" condition applies to the European Union, but no such clarification was issued for Japan. "It's different from what we've heard from the US side," Akazawa said. "We'll request that the agreed-upon content be implemented."
New Straits Times
35 minutes ago
- New Straits Times
Malaysia's tokenised asset market could reach US$43bil by 2030
KUALA LUMPUR: Malaysia's tokenised asset market could reach US$43 billion (RM202 billion) by 2030, driven by growing opportunities in regulated investment products such as unit trusts, bonds and sukuk. Kenanga Investment Bank Bhd said asset tokenisation represents a structural shift in financial markets, offering "a deeper reform" beyond digital interfaces by reshaping how assets are issued, traded and governed. The projection is part of a newly released white paper titled 'Project Juara: Malaysia's Asset Tokenisation Opportunity', jointly authored by Kenanga, Saison Capital Pte Ltd, Helicap Labs Pte Ltd and Satori Research Ltd. "The report outlines a roadmap for building a robust tokenisation ecosystem in Malaysia to drive financial transformation and foster a more inclusive capital market," Kenanga said in a statement. It added that the initiative aligns with the government's ambition to position Malaysia as a leading hub for digital assets and blockchain technology. The report calls for a whole-of-nation approach involving traditional financial institutions, infrastructure providers, regulators and community leaders. It also suggests that early adoption by financial institutions, paired with credible investment products from asset owners, can pave the way for Malaysia's transition to a more inclusive and equitable digital economy. "This report highlights the scale of what is possible if we take the right steps today," it said, adding that the white paper draws on regulatory, institutional and technological lessons from across Southeast Asia.
