1981 economic recovery tax act

Vietnam would be among a handful of nations maintaining positive economic growth this year, according to a World Bank expert. Vietnam’s highly effective Covid-19 countermeasures would help the country’s economy recover from the pandemic much faster than regional peers, according to David Hutt, a journalist specializing in Southeast Asian politics. During the outbreak of the pandemic, the Communist Party of Vietnam (CPV) and the government have taken responsible steps to protect people’s lives, Hutt was quoted by the BBC News as saying. Judgment by country about the response of their governments to the Covid-19 pandemic. Through drastic and timely measures to contain the pandemic and support those affected at the same time, Vietnam has reiterated its stance on “leaving no one behind”. These actions have built up trust among the Vietnamese citizens in the government that they are protected, therefore, this crisis also showcased the unity of Vietnamese … [Read more...] about Vietnam’s economic recovery predicted much faster than regional peers

Vietnam’s economy is recovering quickly and impressively despite challenges, representatives of the World Bank (WB) and the International Monetary Fund (IMF) shared at a conference held on Monday. “Vietnam’s economic growth in the second and third quarters is significant and the industrial field has showed dramatic growth," said Andrea Coppola, lead country economist at WB Vietnam. "However, basic challenges will remain in the future.” Francois Painchaud, resident representative of the IMF in Vietnam, threw his support behind the WB Vietnam representative’s view, adding that in July, it revised up its forecast for Vietnam’s economic growth. Vietnam is the only country in Asia and ASEAN to see an upward forecast by the IMF. In particular, the IMF raised Vietnam’s economic growth forecast to seven percent this year, lifting it by a full percentage point from three months earlier. Vietnam needs reasonable fiscal policy At the conference on maintaining macroeconomic … [Read more...] about Vietnam’s economic recovery impressive: WB, IMF representatives

If all goes uneventfully, Vietnam’s GDP growth in the third quarter may hit over 7%. Vietnam would not stand still but stay active in finding ways for economic recovery amid global volatilities, said Prime Minister Pham Minh Chinh at a conference discussing measures to ensure macroeconomic stability and contain inflation held on September 12. Prime Minister Pham Minh Chinh at the meeting. Source: VGP According to Chinh, the global geopolitical situation over the past month remained complicated, with no end in sight to the ongoing conflict between Russia and Ukraine. “These factors would have both short- and long-term impacts on the global economy, including Vietnam’s,” Chinh said. Amid this difficult situation, Chinh expected the country to continue prioritizing macroeconomic stability for long-term development. The prime minister also noted at present, Vietnam has been able to keep positive economic performance, especially with inflation under control … [Read more...] about Vietnam to overcome difficulties for economic recovery: PM

The World Bank recommended that the government remain vigilant about inflation risks associated with food and basic prices. Vietnam's economic recovery has continued despite heightened economic uncertainties regarding higher global inflation and slowing economic growth in major trading partners, the World Bank (WB) said in its latest report. Cars production at Vinfast's plant. Photo: Pham Hung/ The Hanoi Times In August, the country’s industrial production index (IPI) increased by 15.6% – nine percentage points higher than in July, for which the report suggested such a high growth rate is mostly due to the low-base effects as industrial production was severely affected by Covid-19 health-related lockdowns a year earlier. Nonetheless, the sector also registered a 2.9% month-on-month growth, highlighting its continued good performance beyond the low-base effect. The most dynamic sub-sectors included electronics (12% month on month) and transport equipment … [Read more...] about Vietnam stands firm on economic recovery: WB

During a Q&A session held by the National Assembly (NA) on November 11 regarding specific solutions and policies to accelerate economic recovery and development in the near future, Minister Dung put forward five major groups of solutions. The first is to focus on opening up the local economy whilst implementing pandemic prevention and control measures according to the Government’s Resolution 128. The opening must be done safely under a proper roadmap in line with the anti-pandemic strategy, vaccinations, as well as a consistent supply of therapeutic drugs and medical equipment. The second is to provide social welfare support whilst creating jobs for workers. This should be done along with boosting the local labour market and social housing development. The third proposal is to support business recovery moving forward, including special resilience support in some sectors which have been heavily impacted by the pandemic. The Ministry of Planning and Investment is … [Read more...] about Planning and Investment Minister outlines solutions for economic recovery

Take-away only service during lockdown in Bangkok. (Photo: Shutterstock) Bangkok (VNA) - Thailand’s Client Confidence Index and Industrial Sentiment Index in August posted a record high in many months, showing positive signs in the country’s economic recovery. The College of the Thai Chamber of Commerce (UTCC) recently introduced the August 2022 Client Confidence Index rating of 43.7, an 8-month excessive since February. Thanavath Phonvichai, UTCC President and Chief Advisor to the college’s Heart for Financial and Enterprise Forecasting (CEBF), stated shoppers begin to discover a slight financial restoration because the COVID-19 scenario in Thailand begins to wind down, along with the comfort of measures permitting companies to function as normal. The decreasing oil costs and the comfort of guidelines for worldwide vacationers have contributed to improved shopper confidence, in addition to the federal government’s financial measures together with the co-pay and state … [Read more...] about Thailand sees positive signs in economic recovery