Vietnam not let COVID-19 hold back its pace: former VCCI leader

Vietnam is spreading a message among domestic and foreign business community that the country will not let COVID-19 to hold back its pace of development and Vietnam has been and will continue to be the top destination for investors, said Vu Tien Loc, President of the Vietnam International Arbitration Centre (VIAC).
Vietnam not let COVID-19 hold back its pace: former VCCI leader ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) –Vietnam is spreading a message among domestic and foreign business community that thecountry will not let COVID-19 to hold back its pace of development and Vietnam has been and will continue to be the topdestination for investors, said Vu Tien Loc, President of the Vietnam International ArbitrationCentre (VIAC).

Speaking at an online meeting between Prime Minister Pham Minh Chinh with businesses and localities on September 26 on measures to support them amid COVID-19, Loc, who was President of the Vietnam Chamber of Commerce and Industry (VCCI) in the previous tenure, held that theadjustment of COVID-19 response strategy from no COVID-19 to safely andflexibly adapting to and effectively controlling the pandemic is a sound and timelydecision.

The amendments in vaccinestrategy as well as efforts to increase supply and speed up injectionspeed as well as the definition of prioritised groups have brought about encouragingresults, he said.

The business leader held that this is a firmfoundation for the Government to launch a process of loosening social distancing,recovering the stagnant production and business activities, and creating a “goldentime” for the rescue of enterprises. “If we re-open any slower, we will have topay a more expensive price,” stated Loc.

However, Loc said thatopening the door does not mean neglecting safety. The Prime Minister hasdirected the Ministry of Health to coordinate with ministries, sectors and thebusiness community as well as experts to draft a guidance on safely and flexibly adapting to and effectively controlling thepandemic.

Loc suggested that noadditional licences or new business conditions should be created during thisprocess.

Vietnam not let COVID-19 hold back its pace: former VCCI leader ảnh 2An overview of the meeting at the Government headquarters. (Photo: VNA)
In order to assist enterprises in quickly switching to the safe operation amid COVID-19, thus completing the dual targets, Loc proposed that economic forces be given greater presence in the National Steering Committee on COVID-19Prevention and Control, and the committee be renamed National Steering Committee on COVID-19 Prevention and Control and Economic Recover to reflect the dual targets.

He added that the same change be made to the steering committees in all localities./.
VNA

See more

Representatives of Halal markets are impressed by the beauty of Ha Long Bay, which is recognised by UNESCO as a World Heritage Site (Photo: Quangninh.gov.vn)

Vietnam studies nuances for successful Halal tourism

Muslim tourism has become a global trend and is playing an increasingly vital role in many countries' tourism sectors, said Dr. Trinh Thi Thu Ha, Rector of the Hanoi College of Commerce and Tourism.

Sun Group signs a MoU with Emirates, April 30, 2025. (Photo: Sun Group)

Emirates, Sun Group partner to promote tourism in Vietnam

The MoU was signed during the Arabian Travel Market (ATM) in Dubai by Orhan Abbas, Emirates’ Senior Vice President of Commercial Operations for the Far East, and Nguyen Vu Quynh Anh, Deputy CEO of Sun Group cum CEO of Sun Entertainment & Hospitality Group.

The groundbreaking ceremony for the second phase of construction on Vietnam’s first locally owned semiconductor chip factory. Photo courtesy of CT Semiconductor (Photo: VNA)

Construction of first locally-owned semiconductor factory begins

The groundbreaking ceremony, held in Binh Duong province, was attended by Deputy Prime Minister Nguyen Chi Dung, Deputy Minister of Science and Technology Pham Duc Long and leaders from universities, research institutions and international partners.

On April 15, Ho Chi Minh (HCM) City organises a ceremony to honour 50 outstanding businesses with leading brands and products of the city in celebration of the 50th anniversary of Southern Liberation and National Reunification (April 30, 1975-2025). (Photo: VNA)

HCM City’s leading enterprises embrace innovation in new era

Currently, HCM City's businesses contribute over 50% of the city’s GRDP, 67% of total investment, and 25% of national import-export turnover. Many of these enterprises have built strong domestic reputations and are increasingly succeeding in international markets.

Vinh Loc 2 industrial park in Ben Luc district, Long An province, which borders HCM City's Binh Chanh (Photo: VNA)

Production restructuring fuels demand in industrial real estate

With a solid foundation, increasing investor confidence, and strategic government support for sustainable and high-tech development, Vietnam’s industrial real estate market is well-positioned to become a regional leader in the era of sustainable prosperity.

Illustrative image (Photo: thoibaonganhang.vn)

Vietnamese gov’t approves two-year trial of P2P lending

Under the pilot, only P2P lending companies licensed by the State Bank of Vietnam (SBV) will be allowed to operate. Foreign banks are excluded from participation. While credit institutions and fintech firms may join the trial, participation does not guarantee future compliance with business or investment regulations once formal laws are enacted.

Processing dragon fruit for exports (Photo: VNA)

Overseas Vietnamese help Vietnamese products go global

In 2016, approximately 4.5 million Vietnamese were residing in 109 countries and territories. Today, the figures have risen to over 6 million and more than 130, respectively. Once focused on small-scale trade, many OV entrepreneurs now own major retail centres and operate extensive wholesale networks, boosting the availability of Vietnamese products abroad.

Illustrative image (Photo: VNA)

PM orders fast-track construction of Lao Cai - Hanoi - Hai Phong railway

The Minister of Construction was asked to work closely with local authorities to hasten land clearance, compensation, resettlement, site surveys, and the drafting of a feasibility study, which must be completed by June 2025, setting the stage for the project's groundbreaking on December 19, 2025.

LNG import operations at Thi Vai terminal. (Photo: VNA)

Vietnam cuts LNG import tariff to boost clean energy transition

The Vietnamese Government has reduced the preferential import tariff on liquefied natural gas (LNG) from 5% to 2% under Decree No. 73/2025/ND-CP, issued on March 31. The move marks a key step in accelerating the country’s shift from fossil fuels to cleaner energy.