External recovery

On a street in Kuala Lumpur, Malaysia (Photo:AFP/VNA) Kuala Lumpur (VNA) - Malaysia’s economic recovery remains in sight with a better trend as signalled by Malaysia's macroeconomic performance in April 2022 amid global uncertainty, said the Department of Statistics Malaysia (DoSM). Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said in a statement that Malaysia is blessed with natural resources and commodities such as petroleum products and palm oil. As a net commodity exporter, Malaysia also benefits from higher commodity prices resulting in the country’s total trade chalking up a double-digit annual growth of 21.3% to 231.4 billion RM, he said. Exports rose 20.7% to 27.5 billion RM while imports went up 22% to 103.9 billion RM. The trade balance rose 15.7% and continued to remain in surplus at 23.5 billion RM. Malaysia's trade performance in May 2022 remained resilient, recording the fastest growth since November 2021, with total trade surpassing 1 … [Read more...] about Malaysia witnesses strong economic recovery

He pointed out that the world situation developed complicatedly over the past time with strategic competitiveness, the conflict in Ukraine, soaring fuel prices, escalating inflation in many countries, and the ongoing COVID-19 pandemic, among others. The pressure of high inflation, surging commodity prices and disrupted supply chains could be felt in Vietnam, the PM continued. However, under the sound leadership of the Party led by General Secretary Nguyen Phu Trong, and with the support of the National Assembly and the drastic management of the Government, engagement of ministries, agencies, localities, people and businesses, and the support of international friends, Vietnam has brought the pandemic under control and ensured macro-economic stability and major economic balances. The country has also worked to safeguard its independence, sovereignty and territorial integrity; maintain social security, order and safety; intensify external relations; step up administrative reform and … [Read more...] about Cabinet meeting looks into socio-economic situation

Hanoi, (VNA) - The following is a list of selected news summaries over the weekend by the Vietnam News Agency. – Prime Minister Pham Minh Chinh has ordered faster administration of the third and fourth doses of COVID-19 vaccine as part of measures against the unpredictable pandemic situation, especially when the sub-variant BA.5 has appeared in Vietnam and raised the risk of a new wave of coronavirus infections. According to the Government Office, to enhance pandemic control and create favourable conditions for socio-economic recovery and development, the Government leader has assigned Deputy PM Vu Duc Dam to continue directing the Ministry of Health, other ministries and sectors, and 63 provincial-level localities to drastically carry out anti-pandemic measures, especially accelerating COVID-19 vaccination. Read full story - National Assembly (NA) Chairman Vuong Dinh Hue's visits to Hungary and the UK from June 26-30 concluded successfully, thus greatly promoting the … [Read more...] about ☀ Morning digest on July 4

The Business Climate Index is the leading indicator of the European business and investment community in Vietnam. European businesses in Vietnam expressed their positiveness about Vietnam’s prospects for green growth, according to the latest Business Climate Index (BCI) released by the European Chamber of Commerce in Vietnam (EuroCham) and YouGov Vietnam. CEOs of European businesses gather an event in Ho Chi Minh City last April. Photo: EuroCham According to the BCI, nearly 80% of participants said their assessment of Vietnam’s green development potential improved from the first quarter of this year. About 44% of the respondents have good and excellent outlook regarding the potential for Vietnam’s green and sustainable development. Regarding the link between green growth and foreign-direct investment (FDI), nearly 90% of the respondents believed Vietnam should accelerate green sector development to attract more foreign investment. EuroCham Chairman Alain … [Read more...] about European businesses positive about Vietnam’s prospects for green growth

Vietnam’s economy has performed well amid a difficult global environment in the first six months of the year. The Vietnamese Government would stay focused on stabilizing macro-economic conditions, containing inflation, and keeping all major balances intact. Overview of the meeting. Source: VGP Prime Minister Pham Minh Chinh gave his conclusion at the monthly Government meeting held today [July 4]. According to Chinh, Vietnam’s economy has performed well amid a difficult global environment in the first six months of the year. Chinh highlighted the GDP growth of 7.72% in the second quarter, the highest second-quarter growth since 2011, and the six-month GDP growth of 6.42%. Such  half-year growth rate is even higher than the pre-pandemic one. (6.38% in the 2016-2019 period). In this context, 44 out of 63 provinces/cities posted economic growth of over 6%, which showed a consistent recovery level among localities, he said. Other positive factors include … [Read more...] about Vietnam to solidify macro-economic stability: PM

Chairman of the HCMC People’s Committee Phan Van Mai (R) and Frankfurt Mayor Peter Feldmann at the meeting. (Photo: VNA) Mai said HCMC views Frankfurt as one of the key foreign localities in its external relations. He noted as there remains much potential for bilateral cooperation, the two sides should step up partnerships in trade, investment, information technology, science, environmental protection, and tourism. Meanwhile, Feldmann expressed his hope that in the time ahead, the two cities will further intensify exiting relations and expand cooperation to the areas matching HCMC’s interest and Frankfurt’s strength such as information technology, education, and environmental protection. During their working trip, the Frankfurt delegation will attend the opening ceremony of the city’s representative office in HCMC and an international automotive industry exhibition. They will also visit some German enterprises operating in the southern economic hub of Vietnam. VNA … [Read more...] about HCMC hopes for stronger ties with Germany’s Frankfurt city