Mekong delta

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 …

Continue Reading about ADB bullish on Vietnam’s economic growth despite COVID-19 slowdown →

The resettlement area for Long Thanh Airport is coming along slowly The Long Thanh International Airport project is one of the most important transport projects in southern Vietnam for the local and regional socioeconomic development, promoting tourism, and facilitating trade activities. However, since 2018, only 47 per cent of the VND22.85 trillion ($993.7 million) allocated for the airport’s resettlement project has been disbursed and land clearance work has only reached 50.7 per cent of the plan, with nearly 1,250 hectares remaining for handover within 2021. At last week’s online conferences on socioeconomic development and public investment in 2022 between the Ministry of Planning and Investment (MPI) and the country’s three regions, the People’s Committee of Dong Nai, where the project is located, proposed several measures for the MPI to accelerate the project. In particular, Chairman of Dong Nai People’s Committee Cao Tien Dung proposed cutting two sub-projects on building …

Continue Reading about Essential projects in need of accelerated disbursement →

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 …

Continue Reading about VIETNAM NEWS HEADLINES SEPTEMBER 21 →