Vietnam business friendly

First-quarter low growth seeks solutions The nation's economic growth in the first half of the year was at a rate lower than that targeted in the wake of the COVID-19 pandemic hurting production and business activities. The government is mulling over new solutions to drive the economy forwards, with some international forecasts still proving upbeat. Based on economic performance in the first five months of this year, the government has just reported to the National Assembly Standing Committee its fresh forecast that the economy’s total GDP in the first six months of this year will be nearly VND4 quadrillion (US$174.4 billion), up about 5.8% year-on-year, or 0.42 percentage points lower than the target of 6.22% as set out in the Resolution No.01/NQ-CP released on January 1 on the key tasks for the implementation of the socioeconomic development plan and state budget estimates for 2021. The 5.8% rise will also be 0.12 percentage points lower than the government’s [Read More]

Most of Vietnam's economic indicators in April were good: WB report (Photo: VNA) Hanoi (VNA) - The World Bank in Vietnam has recently announced its updated report on Vietnam Macro Monitoring in May 2021, which states that most of Vietnam's economic indicators in April were good. However, it warns of several risks to the Vietnamese economy due to the most recent outbreak of the COVID-19 pandemic in late April. According to the report, industrial production continued its strong growth momentum last month, increasing by 1.1 percent compared to March, 24.1 percent higher than the same period in 2020. Revenue from retail sales in April also expanded by 2.3 percent month-on-month, after two consecutive months of decline. The consumer price index in April also recorded an increase of 0.5 percent compared to March, reflecting a recovery in household consumption. In terms of exports, a double-digit growth rate was recorded in all major export items, with the fastest [Read More]

Illustrative image (Photo: baoquocte.vn) Hanoi (VNA) - Foreign investors maintained their trust in Vietnam despite countless difficulties last year and the country is viewed as a safe destination for development, a recent forum in Hanoi heard. The Ministry of Foreign Affairs and Vietnam Economic Times co-held the Connections for Development Forum 2021 held late last month, with the theme “Seizing New Opportunities for Localities and Businesses”. Addressing the forum, Deputy Prime Minister Pham Binh Minh said that Vietnam is emerging as an attractive investment destination in Asia and its nation brand value is growing at the fastest rate in the world, rising nine places to 33rd in the top 100 nation brand rankings. The FDI sector has become an important driver of Vietnam’s economic growth, with its contribution to GDP rising considerably, he noted. As of December 2020, Vietnam had a total of 33,070 FDI projects worth over 384 billion USD, with 231.86 billion USD, or [Read More]

Arif Widjaja, general director of Japfa Vietnam said, “We highly appreciate the initiative to establish the COVID-19 Vaccine Fund of the Vietnamese government with a view to offering vaccination to at least three-fourths of the population. With the commitment to doing sustainable business, we go hand in hand with Vietnam during these hard times to overcome the pandemic.” Japfa Vietnam hands over $1 million to the C OVID-19 Vaccine Fund “Since the outbreak of the pandemic, Vietnam has always been among the few countries successfully containing the pandemic. Considering the open immunisation strategy for the people, the decisive leadership of the government, and the solidarity and unity of the people and businesses, I believe that Vietnam will contain the spread of the pandemic and continue its high economic recovery momentum,” he added. At the donation ceremony, Do Van Chien, Secretary of the Party Central Committee and president of the Vietnam Fatherland Front [Read More]

Hoang Duc Hanh, deputy director of the municipal Department of Health, on Saturday said the municipal People's Committee would consider relaxing certain Covid-19 control measures. However, exactly when and which kind of businesses and services get to reopen have yet to be announced. Hanoi's Party unit recently stated the city could reopen certain businesses and activities, as well as outdoor sporting activities with 20 people or less, but that the municipal People's Committee must carefully consider the timing and ensure all necessary coronavirus prevention measures are in place to prevent further outbreaks. Tran Dac Phu, former head of the General Department of Preventive Medicine under the Ministry of Health, said whether coronavirus control measures could be relaxed or not does not depend on if a locality has gone 14 or 21 days without new cases. Each locality can decide on an appropriate time to do so, depending on their own unique situation. "The coronavirus situation has [Read More]

Car sales have dropped sharply because of the fourth Covid-19 outbreak, prompting dealers to offer big discounts. The Vietnam Auto Manufacturers' Association reported that its members sold 25,585 products in May, including 17,581 passenger cars, and 7,482 commercial and 522 specialized vehicles, which represented a 14 percent, 16 percent and 33 percent decrease, respectively, from the previous month. The number of domestically assembled cars sold was 13,825, down 20 percent, while the number of imports sold was 11,760, down 7 percent. Meanwhile, TC Motor reported that it sold 6,053 cars in the month, which was lower than the 6.538 in April. VinFast sold 2,855 cars, a slight increase compared with April (2,717). Most of the bestsellers saw a sales decrease compared with April. About 1,789 Toyota Vios were sold in May (the figure was 1,950 in April), while the figures were 1,620 for Hyundai Accent (2,150), 953 for Hyundai Grand i10s (1,212), and 584 for Honda City (749). [Read More]

Two severely ill patients die of COVID-19 complications HCM City begins the biggest vaccination drive 71-year-old woman becomes Việt Nam's 62nd COVID-19 related death Recovered COVID-19 patient giving back to the community Technology leads the way in anti-COVID-19 strategy A business in Đồng Nai Province’s Biên Hòa 2 Industrial Park is disinfected. Businesses in the province are taking strict measures to protect their workers against COVID-19. – Photo baodongnai.com.vn ĐỒNG NAI – Businesses in Đồng Nai Province’s industrial parks are taking strict measures to protect themselves against COVID-19 and the risk of transmission from HCM City, which is currently the third largest COVID-19 hotspot in the country. Phạm Văn Cường, deputy head of Đồng Nai Industrial Zones Authority’s management board, said that local businesses faced a high risk because the province is adjacent to HCM City. Busy trade occurs daily between HCM City and Đồng Nai so there is a [Read More]

Le Thi Kieu Ngan, a female long-haul truck driver with over a decade of on-the-job experience, is using her vlog to prove that trucking is not just a ‘man’s job.’ Ngan often surprises passing motorists when they spot her behind the wheel of her tractor trailer, but after 10 years on the job, the 34-year-old Thu Duc City resident is used to surprised stares. Ngan’s skills behind the wheel have earned her a reputation of having impeccable problem solving skill and the ability to remain calm and collected in the face of crisis thanks to a career spent driving four- and seven- seater cars, tour buses, mid-to-full-size box trucks, and 40-metric-ton tractor trailers. Currently, most of her days are spent delivering new trucks to clients across Vietnam for a Ho Chi Minh City-based automobile sales firm. Though she has plenty of experience on the job, there are still many aspects of her work that are less than pleasant. “I often find myself covered in mud and lubricants after [Read More]