Economic growth

Vinh Phuc (VNA) – The northern province of Vinh Phuc’s industry has been growing to become a key economic sector that contributes greatly to the local gross regional domestic production (GRDP). According to the provincial People’s Committee, nine out of 20 industrial parks and clusters approved by the Prime Minister have become operational. The locality has had more than 10,500 businesses. In the 2015-2020 period, the average growth of the province’s industrial-construction production value is estimated to reach 12.1 percent per year, nearly doubling the target set at the resolution released at the 16th Party Congress of the province. The sector also makes up more than 65 percent points to the whole economic growth of the province. The added value of the processing-manufacturing sector of the province accounts for 4.5 percent of the added value of the sector in the whole country. Meanwhile, electronic spare parts have been the leading export products of … [Read more...] about Industrial sector helps promote Vinh Phuc economic growth

Quang Ninh (VNA) - Investment in industrial parks (IPs) and economic zones (EZs) has become a new driver of growth in the northeastern province of Quang Ninh, with local authorities issuing various policies to attract investors. According to experts, Quang Ninh is considered a strategic investment destination in Vietnam’s northern region and an important link in the Hanoi - Hai Phong - Quang Ninh northern economic growth triangle. The province possesses major advantages, with Van Don district to become a multi-sectoral marine economic zone and an entertainment centre, with a casino, high-end sea-island tourism, and general services. The province has planned to develop eleven IPs and four EZs that together span over 368,000 ha, accounting for more than 30 percent of Quang Ninh’s total natural area. Six of the 11 IPs have already been issued investment registration certificates and have infrastructure invested in and leased. Investors have so far poured about 27.35 … [Read more...] about Industrial parks, economic zones create new growth momentum in Quang Ninh

Nearly 10 years ago, HCM City put forward the idea of setting up ‘a city within a city’, when proposing to create a policy for ‘four cities – East, West, South and North’. Each ‘city’ would have its own urban government and the governments would belong to the HCM City authority. … [Read more...] about Thu Duc City set to be new growth pole for HCM City

Hanoi (VNA) - Scientists and experts from Vietnam, Cambodia, Singapore, India, and elsewhere joined a workshop entitled “The Association of Southeast Asian Nations (ASEAN) after the COVID-19 pandemic” in Hanoi on September 8. Participants focused discussions on a range of matters, including the pandemic in Southeast Asia and its impact, ASEAN’s response, changes in the region’s political and security situation, and forecasts for post-COVID-19. Speaking at the workshop, President of the Vietnam Academy of Social Sciences (VASS) Bui Nhat Quang cited a report of the ADB released in June which said that Southeast Asia’s economy will contract 3 percent in 2020 due to impacts of the pandemic. Vo Xuan Vinh from the Institute of Southeast Asian Studies (ISAS) at VASS said that ASEAN member states actively responded and linked together right from the beginning of the outbreak via the bloc’s medical emergency response system and through information … [Read more...] about International workshop discusses post-COVID-19 ASEAN

Specifically, the Vietnamese NA has ensured a legal framework for implementing measures in fighting the COVID-19 pandemic. The NA also approved a support package worth VNĐ62 trillion (US$2.7 billion) to assist people and enterprises affected by the pandemic. It also adjusted the State budget towards promoting public investment and economic recovery. Resolutions on removing obstacles facing enterprises hard hit by the pandemic have also been issued by the NA in a bid to facilitate post-pandemic recovery. … [Read more...] about ASEAN parliaments work together for post-pandemic economic recovery