Economic forecast next 10 years

Ly Dai Hung from the institute’s Macro-economy and Economic Institution Division said that the world situation is showing positive signs, as COVID-19 vaccines have begun to be introduced in countries such as India, Indonesia, and Switzerland and will be expanded to others throughout the year. The world economy will warm up along with the implementation of various economic support packages, thus promoting Vietnam’s trade and investment activities, he said. Delegates from research institutes discussed measures at the conference to boost post-pandemic economic growth based on innovation and digital transformation. They stressed the importance of renewing policies and institutions to encourage the engagement of the private sector in the process. It is also necessary to quickly carry out a digital transformation strategy in line with new economic stimulus packages, they added./. … [Read more...] about GDP growth to reach 5.49 pct. in normal scenario in 2021: Economics Institute

The ministry has urged ministries and sectors to promptly prepare guiding documents for EVFTA implementation. The government issued Decree 111/2020/ND-CP on Vietnam’s special preferential import and export tariffs in accordance with the EVFTA, for application from 2020-2022; Decree 103/2020/ND-CP on certification of fragrant rice exports to the EU; and Decree 102/2020/ND-CP on ensuring legal timber in Vietnam. Meanwhile, Prime Minister Nguyen Xuan Phuc issued decisions approving EVFTA implementation plans and appointing organizations to chair EVFTA implementation. The Ministry of Industry and Trade issued Circular 11/2020/TT-BCT referring to the origin of goods associated with the EVFTA. … [Read more...] about Efficient EVFTA implementation contributes to economic recovery

Doctor Pham Sy An from VIE said Viet Nam's GDP growth was reported at 2.9 per cent, the lowest figure since the beginning of the Renewal era in 1986. This, however, could still be considered a significant achievement against a backdrop of a reeling global economy due to the COVID-19 pandemic, which sent major economies including the US (-5.9 per cent), the EU (-7.5 per cent) and the UK (-6.5 per cent) nosediving into negative territory. … [Read more...] about VN eyes strong recovery from pandemic this year

Soc Trang (VNA) - The poverty rate in the Mekong Delta province of Soc Trang fell from 17.89 percent in 2016 to 2.66 percent in 2020 thanks to the effectiveness of the National Target Programme on Sustainable Poverty Reduction. The result was revealed by Ma Chi Thanh, Deputy Director of the provincial Department of Labour, Invalids and Social Affairs during a conference reviewing the five-year implementation of the programme in the Mekong Delta province on January 19. Thanh said that the number of poor households in Soc Trang was more than 57,800 in 2016, with Khmer ethnic minority families accounting for nearly 27 percent of the total. Five years later, the number was brought down to just over 8,610, or 2.66 percent of the total, he noted, adding that only 4.13 percent of Khmer ethnic minority households were classified as poor last year. The poverty rate declined more than 3 percent annually over the last five years - higher than the goal set by the provincial Party Committee … [Read more...] about Soc Trang: Poverty rate plunges to 2.66 pct. in five years

Previously, it was honoured by the Ministry of Finance for "Outstanding Taxpayer," marking nearly a decade that the company has been continuously awarded certificates of merit by local and central tax administration agencies for fulfilling its tax payment obligations and contributing to socio-economic development. … [Read more...] about Nestlé Vietnam honoured for outstanding contributions to State budget