Vietnamplus

Textile and electronics have been the two export-oriented sectors mostly impacted by the COVID-19 pandemic.

Textile and electronics have been the two export-oriented sectors mostly impacted by the COVID-19 pandemic, an official has said.

Hanoi should focus on improving its infrastructure system while hastening administrative reforms to attract investors eyeing Vietnam amid the global production shift, experts have said.

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.

The Ministry of Planning and Investment together with the US Agency for International Development (USAID) co-organised a conference in Hanoi on July 24 to assist enterprises in developing sustainable supply chains for better growth of the business community and the economy.

Vietnam must hasten the process of issuing legal documents and institutional reform to implement free trade agreements (FTAs) and take advantage of these trade deals to boost exports, officials have said.

Prime Minister Nguyen Xuan Phuc on July 18 urged 12 cities and provinces in the central and Central Highlands key economic region to push ahead with public investment disbursement.

Thai businesses will support their Vietnamese partners in taking part in regional supply chains and industrial production in the time to come, the Director of the Thai Department of International Trade Promotion (DITP), Suparporn Sookmark said at a programme in HCM City on July 14.

Truong Hai Auto Corporation (THACO), a leading automaker in Vietnam, has sold 80 Kia Grand Carnival cars to Thailand.

By 2045, when Vietnam becomes a developed country, Hanoi must have developed into one of the political, economic and cultural centres in East Asia, according to Prime Minister Nguyen Xuan Phuc.

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.

Vietnamese multi-business group THACO on June 1, 2020 exported to the US market another 36 semi-trailers manufactured at its Special Vehicles Manufacturing Limited Company, or THACO SV, in THACO Chu Lai Industrial Park, Quang Nam province.

There is a rising wave of converting rubber plantations into industrial land as developers eye spots for industrial zones to capture opportunities from global value chains.

The World Bank (WB) has issued several recommendations to help Vietnam enhance its international integration and capitalise on the EU-Vietnam Free Trade Agreement (EVFTA), which is expected to come into effect shortly.

The COVID-19 pandemic has caused enormous impacts on Ho Chi Minh City in particular and Vietnam in general. However, many enterprises have grasped this opportunity and shifted their production to making products of high demand, ensuring jobs for workers while contributing to the economic recovery after the pandemic.

The Ministry of Industry and Trade (MoIT) and the Vietnam Chamber of Commerce and Industry (VCCI) on May 7 signed a cooperation agreement to support businesses after the COVID-19 pandemic.

The COVID-19 pandemic has had a serious impact on Vietnam’s economy but it’s also believed to create the conditions to attract more foreign direct investment (FDI) as there have been signs of a switch in capital flows away from China and to ASEAN member countries.

The foundation of Vietnam’s economy is forecast to be maintained and recover with a growth rate of 6.8 percent in 2021, providing the COVID-19 pandemic is brought under control in the first half of 2020, according to the Asian Development Bank (ADB).

Vietnam’s economic growth rate is expected to slow sharply to 4.8 percent this year due to the impact of the COVID-19 pandemic, said a new Asian Development Bank (ADB) report released on April 3.

Vietnam is in need of major investors in fruit and vegetable production in order to boost processing, especially in the packaging and post-processing stages, to preserve products for longer and enhance their value.