More cities/provinces are now focusing on the quality and effectiveness of policy implementation, instead of issuing new ones. At a time when the business community is facing severe hardship due to the Covid-19 impacts, experts suggested a strong push for reform and eventually greater economic competitiveness would help regain business confidence in the positive outlook. Production at Hanoi-based Garment 10 for exports. HNT Photo: Thanh Hai During the first nine months of 2021, the total number of newly-established enterprises declined by 13.6% year-on-year to 85,500, while around 90,300 temporarily suspended operation, or an increase of 15.3%. This averaged 10,000 enterprises exited the market every month. “More than ever, this is the right timing for the Government to push for greater administrative reform and create more favorable conditions for businesses and people to enhance their resilience against future shocks,” President of the Vietnam …
Foreign currency reserves hit USD 68 billion in H1
This has helped the central bank to stabilize foreign exchange rates. According to a macroeconomic report by the Banking University of Ho Chi Minh City, foreign direct investment (FDI) flows annually poured into Vietnam are important resources for the nation’s foreign currency reserves. The report also pointed out challenges facing Vietnam in the coming time, including the US-China trade war which causes impact on global economic activities. Vietnam’s export growth in the first half of this year expanded only 7.3 percent, 10.5 percent lower than that of the same period last year. Trade deficit was at USD 37 million in the period, while the country enjoyed a trade surplus of USD 4.12 billion a year before. Export turnover of the domestic economic sector increased by 10.8 percent. Meanwhile, that from the FDI area, which plays a crucial role in offsetting trade deficit from the domestic economic sector, rose by only 5.9 percent in the reviewed period. Source: VNA …
Continue Reading about Foreign currency reserves hit USD 68 billion in H1 →
EVFTA gives fresh impetus to trade and investment co-operation
The Vietnam-EU Trade Forum is expected to take place on October 27 in Hanoi. The Vietnam-EU Trade Forum is expected to take place on October 27 in Hanoi to highlight the importance of the EU-Vietnam Free Trade Agreement (EVFTA) which has provided fresh impetus to trade and investment co-operation as the world moves into the new normal situation. The virtual event is set to be co-hosted by the Ministry of Industry and Trade, the Delegation of the EU to Vietnam, and the European Chamber of Commerce (EuroCham) in Vietnam. Most notably, the function will serve to connect 14 points of Vietnamese Trade Offices in Europe, while guests will be directly provided with market information whilst receiving support in a bid to strengthen connectivity with partners in the region. The forum will primarily focus on assessing the economic and trade changes between the nation and the bloc following the enforcement of the EVFTA, the practical effectiveness of taking advantage of the trade …
Continue Reading about EVFTA gives fresh impetus to trade and investment co-operation →