Y is economic growth important

The moves to take in order to help firms ride economic wave - illustration photo The government can best help businesses by continuing its remarkable success in limiting the spread of COVID-19. The challenge now is to source vaccines and quickly vaccinate the population as supplies become available. This should remain the highest priority. Recent global success in containing the pandemic means that there are now much improved prospects for global economic recovery. The World Bank recently projected global growth of 5.6 per cent in 2021. A key question for policymakers is: What more can Vietnam do to help firms benefit from the expected improvement in the global economy? When the pandemic first started to impact the global economy, governments initially focused on actions to retain jobs and limit firm closures. Policy actions were directed at quickly increasing spending and liquidity to sustain investment and employment, and measures to reduce business costs to stimulate … [Read more...] about The moves to take in order to help firms ride economic wave

Vietnamese Minister of Foreign Affairs Bùi Thanh Sơn delivered the keynote speech at Asia-Europe Meeting (ASEM) High-level Policy Dialogue held on Tuesday. — VNA/VNS Photo Nguyễn Điệp HÀ NỘI — Vietnamese Minister of Foreign Affairs Bùi Thanh Sơn on Tuesday chaired the Asia-Europe Meeting (ASEM) High-level Policy Dialogue, themed “ASEM at 25: Strengthening Asia-Europe Partnership in a Transforming World” held both in-person and virtually in Hà Nội. The dialogue is an initiative of Việt Nam to mark the 25th anniversary of ASEM foundation (1996-2021) and is one of the most important activities of the forum in 2021, serving as an important opportunity for members to discuss the development orientation and vision of the Asia-Europe Partnership in the new period. The outcome will be an important contribution to the 13th ASEM Summit scheduled to be held on November 25-26 in Cambodia. In his remarks, Vietnamese foreign minister Sơn lauded the remarkable achievements and … [Read more...] about Asia-Europe partnership indispensable for world’s stability and prosperity: Foreign minister

Vietnamese lychees put on sale in France. — VNA/VNS Photo HÀ NỘI — Trade in goods between Việt Nam and the European Union (EU) has seen positive growth since the beginning of 2021, despite the impact of the COVID-19 pandemic. According to statistics of the General Department of Customs, Việt Nam exported US$16.1 billion worth of goods to the EU during January-May, while importing commodities worth $6.7 billion from the bloc, up 20.1 per cent and 16.8 per cent compared to the same period last year, respectively. The EU is currently Việt Nam’s fifth largest trade partner and second biggest importer of Vietnamese goods, following the US. Last year, two-way trade reached $49.8 billion, down 0.1 per cent year-on-year, and accounting for 9.13 per cent of Việt Nam's total foreign trade. With the EU-Việt Nam Free Trade Agreement, Việt Nam’s exports to the bloc bounced back since the end of 2020, said Trần Thanh Hải, deputy head of the Ministry of Industry and Trade’s … [Read more...] about Việt Nam’s exports to EU surge amid COVID-19

Kate Rickersey, a representative from the WB in Vietnam, made the remark at a workshop co-hosted by the Ministry of Natural Resources and Environment, the Party Central Committee’s Economic Commission and the WB in Vietnam on June 21. As recent rapid urbanization in Vietnam has resulted in remarkable changes in the pattern of land use and growth in the country, the country needs to define a land governance vision for the 2021-2045 period towards digitizing land management services and ensuring rights for all land users, she noted. According to Standing Vice Chairman of the Party Central Committee’s Economic Commission Cao Duc Phat, the workshop focused on reviewing achievements and pointing out shortcomings, as well as proposing new development directions to perfect mechanisms, policies and laws, towards removing obstacles to State management on land, contributing to the nation’s socio-political stability. Delegates and experts said that in order to modernizing its land … [Read more...] about Vietnam develops comprehensive policy framework in land management: WB official

During a reception in Hanoi on June 21 for Singaporean Foreign Minister Vivian Balakrishnan, who is on Vietnam visit from June 20-23, Chinh hailed Singapore as one of the top investors in Vietnam. The Vietnamese PM suggested both sides actively seek new and creative ways in important areas, and soon hold a meeting of a working group to discuss digital economic cooperation. To effectively boost trade in a balanced manner, Chinh proposed Singapore create more favorable conditions for the import and distribution of several Vietnam’s key goods in the country, including agro-fisheries, processed food, apparel, footwear, new industrial goods such as electric automobiles, electric cable lines, wooden furniture. He urged stepping up negotiations and signing of agreements to mutually recognize quarantine standards in agro-fisheries and processed food. He also proposed effectively realizing specific terms in Vietnam - Singapore economic connectivity agreement. Speaking highly of … [Read more...] about Vietnam encourages Singaporean firms to do business in country: PM