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Logistics support export growth The world economy made clear progress in the first six months of 2021 compared to the same period last year, with the commodity market increasing activity and raw material and fuel prices rising to new heights. International trade is continuing to swarm busy shipping routes around the globe. Growing exports of Asian goods to the US are causing greater seaport congestion. Southern Chinese ports are trying to stabilize operations, but it will take a long time to clear the backlog and process new orders. Increased transactions lead to high demand for transportation, warehousing and other logistics services. Despite the resurgence of Covid-19, the logistics market is booming in many countries. Vietnam’s total import-export turnover reached US$316.73 billion in the first six months of 2021, an increase of 32.2 percent compared to a year ago, including US$157.63 billion in exports (up 28.4 percent) and US$159.1 billion in imports (up 36.1 …

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US Defense Secretary Lloyd Austin is making a trip to three Southeast Asian nations this week, demonstrating the Biden administration’s commitment to growing ties with its regional allies and deepening relations with Vietnam in particular, according to experts. US Defense Secretary Lloyd Austin is making a trip to Singapore, Vietnam and the Philippines. (Photo credit US Defence Department) Since taking on the role, Secretary Austin has already been to Europe twice for discussions with the United States’ allies. He has also visited Japan, the Republic of Korea, and India, although he has yet to come to Southeast Asia. Amid increasing concerns regarding a lack of focus and engagement in the region, his tour of Singapore, Vietnam, and the Philippines is considered long overdue. His trip will mark the second visit to Southeast Asia by a top member of the Biden administration, following a visit made by Deputy Secretary of State Wendy Sherman last month. The main …

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Support policies effectively implemented for pandemic-hit workers: Minister All policies supporting workers affected by the COVID-19 have been implemented in an integrated and effective way, ensuring people’s life, Minister of Labours, Invalids and Social Affairs Dao Ngoc Dung told the 15th National Assembly on July 25 morning. The strong surge in COVID-19 cases since April 27 has put enormous pressure on the economy and society, he said, citing the fact that employment rate reached 2.52 percent, with the services sector being the hardest hit. Some industries are shrinking further this year, such as travel, lodging service and transportation. About 70,000 enterprises in the economy have suspended operation or gone bankrupt. The pandemic has also been attacking industrial parks and export processing zones where a large number of workers are employed, Dung continued. He stressed that HCM City, Hanoi and many other localities have imposed full or partial lockdown and social …

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As exports formed a key component of local economic development, maintaining production chains was crucial for Vietnam. Vietnam's exports reached US$158.34 billion in the first six months of 2021, an increase of $35.57 billion, or 29 per cent over the same period in 2020. — VNA/VNS Photo In the first six months of the year, exports increased by 29 per cent and orders were rising thanks to the recoveries of the US and China markets, as well as tax incentives from the EU due to the EVFTA agreement, said Nguyen Xuan Thanh, manager of the Fulbright Economics Teaching Programme. Thanh took part in an online conference hosted by e-newspaper cafef.vn yesterday with other experts to discuss solutions for the economy in the ongoing fourth wave of the pandemic. “The remarkable increase is due to the demand for Vietnam's exports from major markets,” he said. Thanh said Vietnam was benefitting thanks to the continuing punitive tariffs on China from the Biden administration, …

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