Institutional reform, deeper integration and digital transformation are important for Vietnam to recover the economy, which has been battered by the COVID-19 pandemic, President of Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc said on November 24.
The Regional Comprehensive Economic Partnership (RCEP) will be in the spotlight at the 37th ASEAN Summit which is virtually hosted by Vietnam from November 12 – 15, according to Singapore’s The Strait Times.
Vietnam needs to develop a strategy to promote the development of the private sector over the next decade to maintain growth, speakers said at a conference on socio-economic development from 2021 to 2030 recently held in HCM City.
Chairman of the People’s Committee of HCM City Nguyen Thanh Phong on October 29 hosted a reception for a delegation of ambassadors from European Union (EU) member countries.
As long as it can maintain the current momentum, Vietnam will be a rising star in the global and regional economy, paving the way to becoming a high-income country in 2045 as it is aiming to do, according to Asia Times.
Though Vietnam has done exceptionally well in quickly containing COVID-19, the pandemic has taken unprecedented toll on its economy. However, it is notable room for the country to further accelerate reforms and climb up global value chain to meet its long-term development goals, heard at a forum on September 29.
With its outstanding achievements over the past three decades, Vietnam is a development success story and continues to perform well even in the pandemic on a range of indicators, including trade, growth and human capital, Victoria Kwakwa, Vice President for East Asia and the Pacific at the World Bank, has said.
Vietnam will focus on solutions to spur growth towards sustainability amidst the impact of COVID-19 during the 2021-2025 period, Minister of Planning and Investment Nguyen Chi Dung said on September 29.
Vietnam has become one of the world’s few economic bright spots attracting foreign investors, especially those from Australia, due to cheap labour, a young population, high education standards, and government incentive policies, experts have said.
Vietnam’s robust economic performance over the past three decades has been heavily dependent on exports and foreign direct investment (FDI), with foreign invested companies accounting for 67.8 percent of the country’s total export turnover in 2019, according to the Institute of Southeast Asian Studies (ISEAS) of Singapore.
Chanh Thu Fruit Import and Export Company Limited in Ben Tre province continues to operate normally despite the resurgence of COVID-19 since it has shifted to new export markets instead of overly depending on traditional ones like China.
Challenges will overwhelm opportunities for Vietnamese part suppliers if they are unable to find ways to upgrade technology and meet international production standards, business executives said on July 24.
Vietnamese enterprises need to improve quality and build a brand for the country’s farm produce as the EU-Vietnam Free Trade Agreement (EVFTA) creates a huge opportunity to bolster the exportation of goods and farm produce to Europe, a heard workshop in HCM City on July 24.
Vietnam is increasingly becoming a ‘poster-boy’ of what embracing ASEAN’s ideals and values can bring to the people, head of the ASEAN Studies Program at the Indonesia's Habibie Centre Ahmad Ibrahim Almutaqqi has told the Vietnam News Agency.
War veterans from Vietnam and the US get together on Ham Rong Bridge, Thanh Hoa province in celebration of the 25th anniversary of diplomatic relations normalisation.
Foreign direct investment (FDI) into electronics should aim to promote local companies and enable them to engage in the global value chain, industry insiders have said.
The Vietnam Climate Innovation Centre (VCIC) under the Ministry of Science and Technology is implementing programmes to help domestic firms find strategic partners in technology, finance and trade.
Truong Hai Auto Corporation, known as THACO, has said that in late May, it will export 69 semi-trailers to the US - a market with strict requirements on quality standards.
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