Vietnam reforms and economic growth

COVID-19 vaccination (Photo: VNA) Hanoi ( VNA) - Vietnam’s economic prospects greatly depend on COVID-19 vaccination speed and scale, the efficiency of pandemic prevention and control measures and the effectiveness of supporting packages, held experts at a conference organised by the Vietnam Economic Strategy Studies Centre (VESS) on October 18. They asserted that bad debts may continue to rise, becoming a threat for the financial system in the post-pandemic period. Therefore, they stresses the need to prepare for worst-case scenarios. Dr. Nguyen Duc Thanh, VESS Director said that slow vaccination has held Vietnam back in recovery process in 2021, which can lead to it losing comparative advantage. Currently, Vietnam’s vaccine coverage remains low compared to the world's level, he noted. The resurgence of COVID-19 has disrupted supply chains and affected the labour market, posing severe impacts on domestic businesses, he said, adding that the growth in the first …

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A Vietnam – Switzerland cultural festival takes place on October 16 to celebrate the 50th anniversary of the two countries’ diplomatic relations (1971 – 2021). (Photo: VNA) Geneva (VNA) – A Vietnam – Switzerland cultural festival took place on October 16 to celebrate the 50th anniversary of the two countries’ diplomatic relations (1971 – 2021), and enhance people-to-people exchange and cultural and economic cooperation. Present at the event were Vice President of the Council of the State of Geneva Mauro Poggia, and Director-General of the World Health Organisation (WHO) Tedros Adhanom Ghebreyesus. In her welcoming remarks, Vietnamese Ambassador to Switzerland Le Linh Lan highly spoke of the achievements in the bilateral relations, saying 2021 holds a special meaning as the year marks the 50th anniversary of the two countries’ diplomatic ties and the 30th anniversary of their development cooperation. Switzerland was among the first Western nations to establish …

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Illustrative image. (Photo: VNA) Hanoi (VNA) – Vietnam’s seaports handled over 587 million tonnes of goods in the first ten months of this year, representing a year-on-year rise of 2 percent, according to the Vietnam Maritime Administration (VMA). growth rate of 12 percent compared to the same period last year to nearly 20.3 million twenty-foot equivalent units (TEUs). exports was estimated to hit over 6.6 million TEUs, surging 11 percent, that of imports - nearly 6.7 million TEUs, up 14 percent, and that of domestic goods - almost 7 million TEUs, up 10 percent. seaports in Hai Phong expanded nearly 15 percent and in Dong Nai 7 percent year on year. VNA …

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The country still faces several obstacles to fully unlocking the benefits of digital technologies. Digital transformation can unlock VND1.7 trillion (US$74 billion) worth of annual economic value in Vietnam by 2030, equivalent to about 27% of the country’s GDP in 2020. An overview of the webinar. Photo: NIC It is the predication stated in the latest report “Unlocking Vietnam’s Digital Potential” conducted by AlphaBeta, which was launched on October 18 at a webinar held by the Vietnam National Innovation Center (NIC) under the Ministry of Investment and Planning. Speaking at the event, Jacques Morisset, World Bank Lead Economist and Program Leader for Vietnam, pointed out the facts that about 60% of businesses use online platforms and tools and over 2,000 administrative procedures have gone online are bright spots in the context of Covid-19 that Vietnam has overcome. To move towards a contactless economy, Vietnam needs to focus on three priorities to …

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At the event, the council discussed a mid-term review of the AEC Blueprint 2025. Vietnam’s Ministry of Industry and Trade acts as the agency holding the responsible for the implementation of the blueprint. Participants also talked about the building of the post-2025 ASEAN vision, regional and global trends. They agreed to continue to strengthen inter-sectoral and inter-pillar coordination as well as cooperation with all components of the ASEAN Economic Community in building the vision to ensure inclusiveness and practical benefits for member countries, towards the goal of building a strong ASEAN Community as well as consolidating ASEAN's centrality in the Asia-Pacific region and in other regional linkages. The implementation of Brunei’s economic collaboration initiatives, the preparation for the upcoming summits, and Cambodia’s orientations for building economic collaboration initiatives for 2022 were also tabled. Based on the results of the discussion, the conference approved a …

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Despite the effect of the COVID-19 pandemic, the total volume of container cargo going through seaports maintained a double-digit growth rate of 12 percent compared to the same period last year to nearly 20.3 million twenty-foot equivalent units (TEUs). Of the figure, the volume of exports was estimated to hit over 6.6 million TEUs, surging 11 percent, that of imports - nearly 6.7 million TEUs, up 14 percent, and that of domestic goods - almost 7 million TEUs, up 10 percent. According to the VMA, most of seaport areas saw positive growth in the volume of goods, such as Vung Tau with 21 percent increase and Ho Chi Minh City nearly 8 percent in the first nine months of the year. The volume of goods that went through seaports in Hai Phong expanded nearly 15 percent and in Dong Nai 7 percent year on year. The VMA said the Government has effectively implemented disease control and set forth solutions to ensure economic development goals, which are factors that would help the seaport …

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Bangkok (VNA) – Thailand’s economic growth may reach 1.3 percent this year, as forecast by the Fiscal Policy Office (FPO), according to Pisit Puapan , director of the Bureau of Macroeconomic Policy. Pisit was quoted by local media as saying that factors to watch in the final quarter this year include the performance of the export sector, domestic spending, and the results of the government's stimulus packages. If all these factors fail to perform well, the FPO might cut its economic growth forecast, he said. The FPO is scheduled to announce its updated GDP growth projection on October 28. The office projected GDP growth of 4.5 percent in 2022. Pisit believes economic activities in the fourth quarter should improve as Thailand plans to reopen on November 1 to vaccinated foreigners. The COVID-19 infection rate has been on a downward trend since August, he said. The Centre for COVID-19 Situation Administration ( CCSA ) has decided to allow fully vaccinated …

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Part of Mong Cai city in Quang Ninh province (Photo: baoquangninh.com.vn) Quang Ninh (VNA) – Quang Ninh ’s success in protecting “ green zones ” from the latest COVID-19 outbreak has created an impulse for businesses based in this northeastern province to recover operations and flexibly and safely adapt to the pandemic. Quang Ninh posted an estimated economic growth rate of 8.6 percent in the first nine months of 2021, much higher than the national average, which was mainly driven by the processing and manufacturing industry. The province’s contribution to the State budget topped 33.5 trillion VND (1.47 billion USD), equivalent to 93 percent of the sum collected in the same period last year, while total investment in society approximated 64 trillion VND, up 7.8 percent. Chairman of the provincial People’s Committee Nguyen Tuong Van attributed the achievements to local businesses and entrepreneurs’ proactiveness in implementing various solutions such as …

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President of the Republic of Indonesia Joko Widodo. (Photo: Setkab) Jakarta (VNA) – Indonesia ’s President Joko Widodo said the government will start building the world's first Green Industrial Park next month. The park will be built in North Kalimantan province in an area of around 20,000 hectares, Widodo said, adding that one of the energy sources to be used is the flow of the Kayan River. energy resource. Therefore, Indonesia has to go ahead, he said, adding that many enterprises have shown their interests in it and lined up to order land at the park. green industrial park during the Partnering for Green Growth and the Global Goals 2030 (P4G) Summit held in late May this year as well as in the annual message presented to the National Assembly on August 16. This is also one of Indonesia's efforts towards the goal of becoming a carbon neutral economy by 2060./. VNA …

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The Ministry of Science and Technology will study new SARS-CoV-2 testing methods such as saliva and breath tests. — VNA/VNS Photo HÀ NỘI — The Ministry of Science and Technology will research the production of COVID-19 vaccines, treatment drugs and new SARS-CoV-2 testing methods, said Minister of Science and Technology Huỳnh Thành Đạt. The ministry held a conference yesterday to review the contribution of science and technology in COVID-19 prevention and control work with the participation of Deputy Prime Minister Vũ Đức Đam. According to Deputy Minister of Science and Technology Bùi Thế Duy, since the pandemic broke out in Việt Nam, the science and technology sector has been creative in researching and manufacturing treatment drugs, vaccines, biological products and anti-pandemic medical equipment. Việt Nam has become one of the first countries in the world to successfully isolate SARS-CoV-2, which is an important result, paving the way for research and production of …

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