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HCM City to implement third relief package worth 7.3 trillion VND Ho Chi Minh City will carry out the third relief package worth 7.3 trillion VND (around 320.7 million USD) sourced from the local budget to help more households and informal workers affected by the COVID-19 pandemic, said Vo Van Hoan, Vice Chairman of the municipal People’s Committee. Speaking at a press conference held by the city’s Steering Committee for COVID-19 Prevention and Control on September 20, Hoan said given complicated developments of the COVID-19 pandemic in the city and prolonged social distancing, people face more difficulties due to job loss and having no income. Therefore, in addition to the social security relief packages of the city's Vietnam Fatherland Front Committee and other organisations and individuals, the municipal People's Committee continues to implement the third relief package to help ease difficulties for local residents. According to reports from the People's Committees of …

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ADB has reduced its GDP forecast for Vietnam but remains optimistic on its post-pandemic prospects The country’s economy is expected to grow 3.8 per cent this year and 6.5 per cent in 2022, according to the Asian Development Outlook (ADO) 2021 Update . Growth picked up in the first half of 2021, largely because of higher trade volumes, but slowed down in the second half of the year as the fourth wave of the pandemic took a toll on business and the labor market. Inflation will be muted in 2021 and 2022 due to the slower growth. “The prolonged COVID-19 pandemic and extended lockdowns have weakened consumption and investment, hampering Vietnam’s growth prospects," said ADB’s country director for Vietnam Andrew Jeffries. “But the Vietnamese economy will bounce back if the COVID-19 pandemic is brought under control by the end of 2021 and 70 per cent of the country’s population are vaccinated by the second quarter of 2022.” The COVID-19 pandemic is expected to drag down 2021’s …

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Many restaurants in Hanoi cleaned up overnight to prepare for their business resumption after more than 50 days of lockdown. Photo: Duc Thanh Since early September, Ho Chi Minh City has allowed food and beverage (F&B) businesses to provide takeaway services from 6am to 6pm. To ensure that pandemic prevention measures are met, the city has requested such businesses to also apply the stay-at-work model, with continuous coronavirus tests for their staff every two days. Despite the green light, many F&B businesses in the city remain careful. Harry Ang, founder of the Singaporean restaurant chain Lion City told VIR, “It’s a good decision to extend the lockdown and utilise more time for planning the next steps to prevent another outbreak. We have been preparing well, as we know that life will never be the same again. All plans have to be carefully executed according to prevention protocols.” He added that he agrees with the local authorities on COVID-19 tests as a good way …

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Manufacturers spread thin trying to reach capacity, Illustration photo After almost 70 days of halting production, Trung Son Corporation’s factory in Tan Tao Industrial Zone based in Ho Chi Minh City’s Binh Tan district has resumed production at 10 per cent capacity. Deputy general director Le Minh Tam said that even if the pandemic is managed and the economy runs as usual, the factory’s capacity will be able to reach only about 50 per cent. “The number of available workers is not as abundant as before the pandemic started,” said Tam. “There were 900 workers in the factory but 300 of them were infected with coronavirus during July and August and the remaining had to be isolated, making them worried and upset.” After receiving treatment, many of them left the city to go back to their hometowns. Tam said that the prolonged problems mean the links between the factory and workers is gradually being fragmented, even though the corporation still pays minimum wage and supports …

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The private sector will be integral in Vietnam's recovery from COVID-19. Photo: baodautu.vn The Vietnam Country Private Sector Diagnostic (CPSD) report, by the International Finance Corporation (IFC) and the World Bank, says while the private sector has played a frontline role in Vietnam’s outstanding development in recent years, it is now time to fully exploit the potential of the private sector to boost productivity growth so Vietnam can achieve its goal of becoming a high-income country by 2045. “The private sector has helped propel Vietnam to join the ranks of middle-income economies in just one generation, and the country was preparing for its next economic transformation when the COVID-19 hit,” said Kim-See Lim, IFC regional director for East Asia and the Pacific. “With another wave, it’s all the more imperative for Vietnam to help develop a dynamic, diversified, and innovative private sector for the post-COVID 19 recovery phase, as public resources become scarce.” The …

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Healthy competition crucial for e-commerce logistics The rapid growth of e-commerce is driving unprecedented demand for e-commerce logistics services in Vietnam. However, the growth of the sector is constrained by regulatory obstacles that impede competition in this industry, reducing efficiency and driving up costs for businesses. Ninja Van, established in Singapore, is one of Southeast Asia’s fastest-growing last-mile logistics companies. After successfully operating in Singapore and Malaysia, Ninja Van entered the Vietnamese market on a trial basis in late 2016 and formally began operations in 2018. The company has quickly scaled up its presence in the country. Despite its success, the group’s Vietnamese CEO Dzung Phan told VIR that the company has encountered a few hurdles related to compliance and following the law in the logistics industry. Some companies provide e-logistics services without registering or registering under a different industry, which causes unfair …

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A medical worker takes a sample from a resident in Hà Nội's Hai Bà Trưng District for COVID-19 testing. — VNA/VNS Photo HÀ NỘI — Việt Nam reported 11,527 new cases of COVID-19 on Wednesday, including 11,525 locally transmitted and two imported cases, according to the Ministry of Health. The new infections bring the country's total tally to 718,963. HCM City is still the hardest hit with 5,435 new cases, followed by the southern provinces of Bình Dương (4,179) and Đồng Nai (930). The capital city of Hà Nội recorded seven new infections. The rest cases are in Long An (191), An Giang (186), Kiên Giang (137), Tiền Giang (89), Cần Thơ (48), Tây Ninh (48), Bình Định (43), Bình Phước (26), Khánh Hòa (21), Đắk Nông (20), Hà Nam (20), Quảng Bình (19), Đồng Tháp (18), Ninh Thuận (15), Phú Yên (14), Đà Nẵng (10), Bình Thuận (9), Thừa Thiên Huế (9), Quảng Trị (9), Bà Rịa - Vũng Tàu (8 ), Bạc Liêu (8 ), Quảng Ngãi (6), Trà Vinh (4), Lâm Đồng (3), Bến Tre …

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Illustrative image (Photo: VNA) Hanoi (VNA) - The ADB has revised down Vietnam's 2021 GDP growth forecast from 6.7 percent to 3.8 percent due to a resurgence of the COVID-19 pandemic that has tightened the labour market, lowered industrial output, and disrupted agricultural value chains, according to a report released by the bank on September 22. At a virtual press conference, ADB country director Andrew Jeffries said the prolonged COVID-19 pandemic and extended lockdowns have weakened consumption and investment, hampering Vietnam’s growth prospects. “But the Vietnamese economy will bounce back if the COVID-19 pandemic is brought under control by the end of 2021 and 70 percent of the country’s population are vaccinated by the second quarter of 2022," he said. ADB remains bullish on the country’s prospects in the medium and long term. Growth could be aided by a revival of domestic demand, an acceleration in the disbursement of public investment, and an expansion to new export …

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The government has accepted a disclaimer for claims related to vaccines and vaccine use as part of the contract, according to a decree issued Tuesday. The Health Ministry will make the purchase. The signing of the contract and the settling of related disputes will be governed by the laws of China. Vietnam has received around 45 million Covid-19 vaccine doses to date, of which Vero Cell, produced by Chinese company Sinopharm, accounts for around 20 million doses. The country has administered 35.6 million Covid-19 doses as of Wednesday. At 6.9 million people, 7.2 percent of the population has been fully vaccinated against the targeted 70 percent. …

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As the capital relaxed its coronavirus restrictions starting Tuesday, thousands of residents flooded the streets at night to celebrate the Mid-Autumn Festival. Streams of vehicles closely packed together could be seen on downtown streets like Trang Thi, Dinh Tien Hoang and Ly Thai To. "If there was any person infected with the Delta variant among the crowds in Hanoi last night, transmission is extremely likely. Once it happens, authorities would find it difficult to contact trace, as they have no idea who's made contact with whom," said Tran Dac Phu, senior advisor at the Public Health Emergency Operations Center. While the capital city authorities had advised people to only go out if necessary despite the relaxed restrictions, the gathering large crowds like Tuesday night without adequate coronavirus control measures may severely impact efforts to fight Covid-19. Even if most people were wearing masks, close proximity can still allow infections to happen, Phu said. However, he …

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