Economic growth of vietnam

At the signing ceremony (Photo: ADB) Hanoi (VNA) - The People's Committee of Thua Thien - Hue province and the Asian Development Bank (ADB) in Vietnam on August 17 signed a Memorandum of Understanding ( MoU ) on promoting a strategic partnership for inclusive and sustainable economic development. This is a framework cooperation oriented-agreement, aiming to assist Thua Thien-Hue to achieve socio-economic development goals for the 2021-2025 period, thus addressing challenges facing of the local economy by digital technology, and speeding up digital economy and digital society. The MoU covers contents related to cooperation orientation principles; goals and areas of cooperation; establishment of foundation for strategic dialogue; development of joint action plans for projects; sharing knowledge, ideas and experience and engaging in dialogues with stakeholders. Under the MoU, the ADB will give periodic consultations to the local authorities within the framework of the … [Read more...] about Thua Thien – Hue, ADB sign MoU for inclusive, sustainable economic development

ADB experts at the press conference (Photo: Vietnam+) Hanoi (VNA) - ADB experts forecast that Vietnam's economy could recover at 6.5 percent this year and grow stronger at 6.7 percent in 2023, due to high vaccination rates and the implementation of expansionary fiscal policies. On April 6, the Asian Development Bank (ADB) released the Asian Development Outlook Report (ADO 2022), which stated that the Vietnamese economy is ready for a strong recovery in the context of global economy instability. GDP reaches a high level ADB experts forecast that Vietnam's economy could recover at a rate of 6.5 percent this year and grow stronger at 6.7 percent in 2023 due to high vaccination rates, trade promotion and continued implementation of expansionary fiscal and monetary policies. Andrew Jeffries, ADB Country Director for Vietnam, said that high vaccination rates have allowed the Vietnamese Government to lift strict pandemic containment measures. The timely shift in pandemic … [Read more...] about Vietnam’s economy recovers strongly amid global instability: ADB

Production recovery An increasing number of multinational corporations are raising capital and/or moving production to Vietnam. Data from the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment showed that by the end of June 2022, the capital of newly registered projects, increases in the capital of ongoing projects and capital contribution and stock purchases by foreign investors totaled over US$14.03 billion, equivalent to 91.1 percent over the same period in 2021. Foreign direct investment (FDI) projects were estimated to have disbursed US$10.06 billion, an increase of 8.9 percent compared to the same period in 2021. Foreign enterprises are interested in high-tech manufacturing in Vietnam RSM Vietnam Chair Le Khanh Lam said foreign investment has always been the main driving force for Vietnam’s economic growth. Despite the impact of the COVID-19 pandemic over the past two years, Vietnam is regaining its growth momentum, with the … [Read more...] about Vietnam draws increased foreign investment

Asia's Best Place to Work is a prestigious international award held by HR Asia for many years to honour businesses with top working environments and outstanding human resource policies, allowances and benefits, sustainable remuneration, and exciting annual activities that connect employees. VSIP JV was honoured to receive this prestigious award right the first time it attends the nomination. Along with the journey of more than 26 years of establishment and development, VSIP’s welfare policies have been increasingly focused when continuously providing diverse insurance packages for employees and their family members. The company also has providing talks on health consultation and periodic health checkups at international hospitals. Thereby, employees and staff are equipped with wide knowledge and care more about their own health, creating a premise for the sustainable development of themselves and their families. HR Asia Award honours VSIP JV as Best Place to Work in … [Read more...] about HR Asia Award honours VSIP JV as Best Place to Work in Vietnam 2022

He made the statement in Hanoi on August 16 at a seminar consulting the World Bank (WB)’s experts about a report on the National Master Planning for the 2021-2030 period, with a vision to 2050. The National Master Planning is the first of its kind in Vietnam made in line with the 2017 Planning Law. Between now and 2030, priority will be given to the establishment and development of economic corridors, locomotive zones, growth poles and national infrastructure framework, especially those with advantages in geological location, infrastructure, human resources and sci-tech potential. Dannay Leipziger, head of the WB experts’ group, suggested that the National Master Planning should take into account improving resilience to environment risks and climate change, and ensuring financial resources for the effort. The National Master Planning set the goal of having about 5,000km of expressways nationwide by 2030, and over 9,000km by 2050. The average housing floor area per capita in … [Read more...] about Vietnam consults WB experts about National Master Planning

The approval of Vietnam’s circular economy development plan, announced in June, aims to help reduce greenhouse gas emissions by 15 per cent of GDP by 2030 (as compared to 2014). The commitment at COP26 by Vietnam to achieve net-zero carbon emissions by 2050 is considered the main call for investment into green technologies and friendly-environmental projects, as well as approval of plans such as the aforementioned circular economy one. These messages have sent a strong signal regarding the country’s direction towards low-carbon, green development, and a circular economy, and could be a new driving force for Vietnam’s sustainable socioeconomic development, helping to improve its competitiveness and foreign direct investment (FDI) into the country. While governments have committed to lowering CO2, companies are also following suit for the good of the planet, Photo: Shutterstock As a result, numerous groups have made decisions in terms of investment and other operations … [Read more...] about Green standards top policies for fresh foreign ventures