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
Factors affecting business environment
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?
The mid-term outlook of the market remains bright, but in short-term, investors may face certain risks. Vietnam’s stock market continues to be an attractive investment channel from now on until late 2021, especially as factors that help attract capital to flow into the market would remain unchanged. Investor at a securities company in Hanoi. Photo: Cong Hung The Vietnam Financial Consultant Association (VFCA) made the assessment in its latest report on the local stock market. According to the VFCA, in the face of the serious nature of the fourth Covid-19 outbreak and the rollout of the vaccination program, scheduled to complete by late 2022, more investors would join the stock market. “Meanwhile, the fact that international organizations providing a positive outlook on the local economy with estimated GDP growth of 6.5-7.1% would further support market development,” it added. The VFCA also pointed out the current low-interest environment as a factor for … [Read more...] about Factors keeping capital flowing into Vietnam stock market remain unchanged
In recent days, Internet users in Vietnam have encountered problems using international services such as downloading content and images on Facebook, sending gmail or watching YouTube. APG and AAE-1 are two of the five undersea cable routes that account for most of the Internet connection capacity from Vietnam to the world, along with three other undersea cables, namely AAG, IA and SMW3. (illustrative image) Internet service providers (ISPs) in Vietnam told VietNamNet that two of five undersea cable routes that account for most of the Internet connection capacity from Vietnam to the world have been interrupted. Specifically, the Asia Africa Europe 1 (AAE-1) undersea fiber optic cable had a problem on the morning of May 26. The operator detected a voltage drop on the S1H branch of the AAE-1 route. According to the initial assessment, there was an error causing a partial break of the fiber on the S1H.1 segment of the cable route. ISPs in Vietnam have not … [Read more...] about Vietnam’s Internet affected by broken undersea cable route
Illustrative image (Photo: baoquocte.vn) Hanoi (VNA) - Foreign investors maintained their trust in Vietnam despite countless difficulties last year and the country is viewed as a safe destination for development, a recent forum in Hanoi heard. The Ministry of Foreign Affairs and Vietnam Economic Times co-held the Connections for Development Forum 2021 held late last month, with the theme “Seizing New Opportunities for Localities and Businesses”. Addressing the forum, Deputy Prime Minister Pham Binh Minh said that Vietnam is emerging as an attractive investment destination in Asia and its nation brand value is growing at the fastest rate in the world, rising nine places to 33rd in the top 100 nation brand rankings. The FDI sector has become an important driver of Vietnam’s economic growth, with its contribution to GDP rising considerably, he noted. As of December 2020, Vietnam had a total of 33,070 FDI projects worth over 384 billion USD, with 231.86 billion USD, or … [Read more...] about Vietnam – A safe destination for development of FDI
Anthony Roméo is designing a domestic waste treatment line, which will be installed in the southern province of Dong Nai, where his company has a cooperation project with Sonadezi Environment Joint Stock Company. The project aims to recycle domestic waste in the province into humus compost. Menart, a family business established in 1961, specializes in the field of designing, manufacturing and installing machinery and equipment, which are used to produce organic fertilizer and to treat waste of different kinds. The company has projects in many countries in Europe, Africa, America and Asia. In Vietnam, Menart built waste treatment plants in many provinces, including Dong Nai, Soc Trang, Kon Tum, Ha Tinh, Thai Nguyen and Ha Nam. At this workshop, Menart engineers will install and test parts of the waste treatment line before they are shipped to Vietnam. VNA … [Read more...] about Belgium, Vietnam cooperate in domestic waste treatment