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☆ Vietnam Q2 GDP growth accelerates, but trade slows
  + stars: | 2023-06-29 | by ( Khanh Vu Phuong Nguyen | Khanh Vu | Phuong Nguyen | ) www.reuters.com   time to read: +2 min
HANOI, June 29 (Reuters) - Vietnam on Thursday reported faster economic growth in the second quarter, driven by the services sector, despite a slump in exports. Gross domestic product (GDP) in the second quarter grew 4.14% from a year earlier, faster than the 3.28% expansion seen in the first quarter, the General Statistics Office (GSO) said in a report. First quarter growth was revised down from 3.32%. The services sector grew 6.11% in the second quarter from a year earlier, while the agricultural sector grew 3.25%, and the manufacturing and construction sector expanded 2.50%, the GSO said. "The government's policies to encourage domestic consumption and promote tourism have contributed to the growth of the services sector," the agency said.
Persons: Kanupriya Kapoor Organizations: Gross, General Statistics Office, Thomson Locations: HANOI, Vietnam
☆ Vietnam's President Phuc quits, blamed for ministers' 'violations'
  + stars: | 2023-01-17 | by ( Khanh Vu Phuong Nguyen | Khanh Vu | Phuong Nguyen | ) www.reuters.com   time to read: +3 min
Summary Phuc blamed for conduct of officials under himPresident highest-profile casualty of graft crackdownPhuc's replacement unclearHundreds of officials hit by 'blazing furnace' campaignHANOI, Jan 17 (Reuters) - Vietnam President Nguyen Xuan Phuc has resigned after the ruling Communist Party blamed him for "violations and wrongdoing" by officials under his control while prime minister, the government said on Tuesday. Phuc, 68, who was premier from 2016-2021, has held the largely ceremonial position of president for less than two years and is the highest-ranking official targeted by the party's sweeping corruption crackdown. Vietnam has no paramount ruler and is officially led by four "pillars": the powerful party's secretary, the president, the prime minister and the chair of the legislature. Phuc was chosen in April 2021 to be president, and was widely tipped to succeed the party's General Secretary, the state's most prestigious job. "As prime minister for the 2016-2021 term, he has made great efforts in leading, directing and administering the COVID-19 epidemic prevention and control, achieving important results," it said.
☆ Vietnam smartphone exports fall ahead of Christmas as Samsung cuts output
  + stars: | 2022-11-29 | by ( Khanh Vu Phuong Nguyen | Khanh Vu | Phuong Nguyen | ) www.reuters.com   time to read: +3 min
It is unclear if the cuts in Vietnam reflect Samsung's general drop in production or a shift to other manufacturing countries. Smartphone output in the first 11 months of the year fell 6.1%. The GSO also said the value of Vietnam's smartphone exports in November fell 1% on the month and 0.7% from a year earlier. However, if demand remains sustained, the production cuts could exacerbate inflation in Europe and other importing regions. Imports also fell by 7.3%, signalling possible further production cuts because components and materials used for exported products are often imported for assembly in Vietnam.
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