19 century economy

European investors are also examining Vietnam’s garment and textile and high-tech industries. Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association, said Japan, the Republic of Korea, Chinese Taipei and China previously were leading production powerhouses of garments and textiles. However, they have gradually reduced this type of production, making a shift to other production hubs inevitable. The Covid-19 pandemic is promoting this trend and with the benefits and incentives of some 16 free trade agreements to which Vietnam is a signatory, the country is an attractive destination for foreign investors. … [Read more...] about Bright outlook for Vietnam’s economy despite Covid-19 setback

A container ship is seen at the Cai Mep International Terminal in the southern province of Ba Ria-Vung Tau. Expanding by 2.9% in 2020, the Vietnamese economy was one of the few economies that grew during the Covid-19 pandemic – PHOTO: ANH QUAN HCMC – Vietnam’s economic recovery accelerated in the last quarter of 2020, making the country one of the fastest growing economies amid the Covid-19 pandemic, according to the World Bank. … [Read more...] about Vietnam one of fastest growing economies amid pandemic: WB

Hanoi (VNA) – A third COVID-19 vaccine developed by Vietnam is scheduled to be tested on humans at the end of March, the Ministry of Health said on January 19. The vaccine is developed by Vaccine and Biological Production No. 1 (VABIOTECH). It is one of the four companies that are developing COVID-19 vaccines in Vietnam, along with the Institute of Vaccines and Medical Biologicals (IVAC), the Centre for Research and Production of Vaccines and Biologicals (POLYVAC), and Nanogen Pharmaceutical Biotechnology (NANOGEN). Nanocovax by NANOGEN is Vietnam’s first candidate vaccine against the novel coronavirus SARS-CoV-2 to reach the human trial stage. The highest dose, 75mcg, of Nanocovax was given to three volunteers in Hanoi on January 12. The Nha Trang-based IVAC has also been authorised to carry out human clinical tests for its Covivac. According to Associate Professor Dr Chu Van Men, Director of the Military Medical University’s Centre for Clinical Trials and … [Read more...] about Human trials of third homegrown COVID-19 vaccine to begin in March

“Such efforts, principally from the central government, have translated into an increase of investment expenditures from 4.8 per cent of GDP to 6.5 of GDP between the first nine months of 2019 and 2020, supporting aggregate demand through the multiplier effects on suppliers and jobs over time,” said an updated World Bank report on Vietnam’s economy. “With any stimulus programme, the role of public investment is not just to directly stimulate the economy, but also to crowd in private investment.” … [Read more...] about Reshuffle underway to further stimulate revival of economy

The Department of Public Security in the Mekong Delta province of Vinh Long on Tuesday initiated legal proceedings against L.Th.T., 33., who is Vietnam’s COVID-19 patient No. 1,440, for “spreading dangerous infectious disease to others,” according to Article 240 of the Penal Code. … [Read more...] about Vietnamese border jumper investigated over spread of COVID-19