Abb drive size

Digitalization is seen as a major instrument for Vietnam to promote an independent and self-reliant economy. Businesses and people should be the main beneficiaries and the driving force for the national digital transformation, so the Government encourages them to take an active part in this process. Prime Minister Pham Minh Chinh at the meeting. Source: VGP Prime Minister Pham Minh Chinh stressed the goal during a meeting of the National Committee on Digitalization today [August 8]. According to Chinh, efforts from Government agencies and localities have been translated into strong progress in Vietnam’s digitalization and contributed to the socio-economic recovery. The prime minister, however, pointed to the incompleted legal environment as the reason hampering the digitalization process, while a lack of investment in digital infrastructure, including the mobile and fixed broadband internet speeds behind the world average, means it has failed to create … [Read more...] about People and businesses urged to take part in the digitalization: PM

At the conference In November 2020, leaders of the People’s Committees of seven localities signed an agreement on tourism development cooperation. The program will focus on state management of the tourism industry, the development of tourism human resources and tourist products, and tourism promotion. According to a report, seven cities and provinces received a total number of visitors of 17.7 million and earned VND63, 000 billion (US$2.7 billion) in tourism revenue in 2021. In the first six months of this year, the business outcome of tourism activities saw positive signs thanks to tourism reopening policies. The total number of tourists was estimated at around 32.9 million, including one million international visitors while the revenue from tourism was VND87, 900 (US$3.76 billion). Standing Vice Chairman of the People’s Committee of Quang Ngai Province, Tran Hoang Tuan speaks at the event. Speaking at the event, Standing Vice Chairman of the People’s Committee of … [Read more...] about North-Central-South tourism connectivity enhanced

According to the report, despite the challenging global economic environment, the outlook for the Vietnamese economy is still favorable according to the baseline forecast. Due to the impact of the low starting point, GDP is expected to grow by 7.5 percent in 2022 and 6.7 percent in 2023, when growth returns to pre-pandemic levels at 6.5-7 percent. Meanwhile, the average inflation is expected to fall around 3.8 percent in 2022, with the rising trend continuing in the second half of 2022. “The fuel price shock is expected to dissipate in 2023, but the second round of spillover effect continues to happen, and the forecasted GDP growth rate of 6.7 percent for the year will cause CPI to increase to 4 percent in 2023 before dropping to 3.3 percent in 2024,” the report said. According to WB experts, with travel restrictions lifted and international tourists gradually returning, the service sector has been recovering strongly. Export growth of manufactured and processed industrial products … [Read more...] about WB releases report ‘Educate to Grow’ on Vietnamese economic situation

New regulations on inspection of imported seafood will create favourable conditions enterprises. (Photo: VNA) HCM City (VNS/VNA) - COVID -related quarantine requirements for frozen processed seafood products imported for the purpose of reprocessing for export will be removed as from September 11 under a recently issued circular by the Ministry of Agriculture and Rural Development. The ministry said it would foster exports of agricultural products by reducing the number of product categories subject to quarantine and using technology to speed up the customs process. The Vietnam Association of Seafood Exporters and Producers ( VASEP ) had petitioned the Government to amend the quarantine regulations saying they were causing the seafood industry “big problems.” Products processed from animals, animal products and those containing aquatic creatures, frozen, dried, cooked, or meant for instant use, continue to be quarantined, and this means the size and number of … [Read more...] about COVID quarantine for imported processed seafood to be removed

According to the latest economic update by World Bank (WB) for Vietnam, the country’s economy expanded 5.2% in Q4 of 2021, and respectively 5.1% and 7.7% in Q1 and Q2 of 2022. Inflation is projected to average 3.8% over the year. Carolyn Turk, WB Country Director for Vietnam, said that the bi-annual report “lays out a set of policy recommendations that could help mitigate the impact of these risks and make the economy more resilient going forward.” Titled “Taking Stock: Educate to Grow”, this edition underlines transforming the higher education system as the key to boosting the country’s productivity and achieving its development goals, in the context where the country re-emerges from the pandemic and into a challenging global environment. The report’s co-author Dorsati Madani said that while Vietnam’s economic recovery had been relatively stable, not all sectors witnessed the same situation. The impact on workers and households during the crisis was serious and lasting, with … [Read more...] about Vietnam’s economic growth forecast at 7.5% in 2022: World Bank