First-quarter low growth seeks solutions The nation's economic growth in the first half of the year was at a rate lower than that targeted in the wake of the COVID-19 pandemic hurting production and business activities. The government is mulling over new solutions to drive the economy forwards, with some international forecasts still proving upbeat. Based on economic performance in the first five months of this year, the government has just reported to the National Assembly Standing Committee its fresh forecast that the economy’s total GDP in the first six months of this year will be nearly VND4 quadrillion (US$174.4 billion), up about 5.8% year-on-year, or 0.42 percentage points lower than the target of 6.22% as set out in the Resolution No.01/NQ-CP released on January 1 on the key tasks for the implementation of the socioeconomic development plan and state budget estimates for 2021. The 5.8% rise will also be 0.12 percentage points lower than the government’s … [Read more...] about VIETNAM BUSINESS NEWS JUNE 19
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Edge computing is an important key to enterprises’ IT infrastructure strategies and the digital economy. A recent survey by TRA found that 51 percent of IT experts in Asia Pacific have begun applying hybrid IT solutions, combining edge computing, public cloud computing and on-premises infrastructure. Edge computing was chosen by more than 1,100 CTOs as the priority task for the next 12 months. The deployment of edge computing has been going strongly in neighboring markets, according to the report. 79 percent of surveyed institutions in Indonesia have applied edge computing, or have understanding about edge computing. Many of them have been applying edge solutions for advanced projects as well. Meanwhile, Thai businesses plan to step up the use of edge computing in the next 24 months for customers’ experience-oriented projects. TRA’s report confirmed the superiority of the positive effects of these solutions. As much as 72 percent surveyed subjects recognized the benfits of … [Read more...] about How can businesses use edge computing effectively?
Car sales have dropped sharply because of the fourth Covid-19 outbreak, prompting dealers to offer big discounts. The Vietnam Auto Manufacturers' Association reported that its members sold 25,585 products in May, including 17,581 passenger cars, and 7,482 commercial and 522 specialized vehicles, which represented a 14 percent, 16 percent and 33 percent decrease, respectively, from the previous month. The number of domestically assembled cars sold was 13,825, down 20 percent, while the number of imports sold was 11,760, down 7 percent. Meanwhile, TC Motor reported that it sold 6,053 cars in the month, which was lower than the 6.538 in April. VinFast sold 2,855 cars, a slight increase compared with April (2,717). Most of the bestsellers saw a sales decrease compared with April. About 1,789 Toyota Vios were sold in May (the figure was 1,950 in April), while the figures were 1,620 for Hyundai Accent (2,150), 953 for Hyundai Grand i10s (1,212), and 584 for Honda City (749). … [Read more...] about Car dealers offer big discounts amid Covid-19 outbreak
Most of Vietnam's economic indicators in April were good: WB report (Photo: VNA) Hanoi (VNA) - The World Bank in Vietnam has recently announced its updated report on Vietnam Macro Monitoring in May 2021, which states that most of Vietnam's economic indicators in April were good. However, it warns of several risks to the Vietnamese economy due to the most recent outbreak of the COVID-19 pandemic in late April. According to the report, industrial production continued its strong growth momentum last month, increasing by 1.1 percent compared to March, 24.1 percent higher than the same period in 2020. Revenue from retail sales in April also expanded by 2.3 percent month-on-month, after two consecutive months of decline. The consumer price index in April also recorded an increase of 0.5 percent compared to March, reflecting a recovery in household consumption. In terms of exports, a double-digit growth rate was recorded in all major export items, with the fastest … [Read more...] about WB: Most of Vietnam’s economic indicators in April good
Arif Widjaja, general director of Japfa Vietnam said, “We highly appreciate the initiative to establish the COVID-19 Vaccine Fund of the Vietnamese government with a view to offering vaccination to at least three-fourths of the population. With the commitment to doing sustainable business, we go hand in hand with Vietnam during these hard times to overcome the pandemic.” Japfa Vietnam hands over $1 million to the C OVID-19 Vaccine Fund “Since the outbreak of the pandemic, Vietnam has always been among the few countries successfully containing the pandemic. Considering the open immunisation strategy for the people, the decisive leadership of the government, and the solidarity and unity of the people and businesses, I believe that Vietnam will contain the spread of the pandemic and continue its high economic recovery momentum,” he added. At the donation ceremony, Do Van Chien, Secretary of the Party Central Committee and president of the Vietnam Fatherland Front … [Read more...] about Japfa Vietnam donates $1 million to COVID-19 Vaccine Fund
Illustrative image (Photo: VNA) Hanoi (VNA) – The vietnam-briefing.com published by Dezan Shira & Associates - a consultancy firm on foreign investment in Asia - on May 6 run an article, emphasising that since the EU-Vietnam Free Trade Agreement (EVFTA) took effect in August 2020, Belgium has played a significant role in promoting trade and foreign investments into Vietnam. According to the article, major sectors that Belgian investors have particularly shown interest in is industrial zones, food and beverage, processing and manufacturing, pharmaceutical, and renewable energy. It noted that with increasing trade and investment between Belgium and Vietnam, Belgian investors have opportunities to invest in Vietnamese industries, favoring the economic and political landscape between the two countries. Over the past decade, trade and investment relations between Vietnam and Belgium have improved considerably. This has been attributed to Vietnam’s growing economy and the … [Read more...] about Increase in Vietnam – Belgium trade brings more opportunities for investors: Experts