Gdp

According to economic expert Dr. Ngo Tri Long, there has yet to be indications of growth in the second quarter of the year in terms of both the global and Vietnamese economies due to the complicated developments of the COVID-19 epidemic. In the current context, keeping a check on the disease and continuing to stabilize production and business activities should be the top priority for the time being. … [Read more...] about Solutions for Vietnam to maintain its current economic growth

This aimed to create favourable conditions for socio-economic breakthroughs. The Department of Information and Communications will be in charge of providing consultancy and support to digital technology companies in the city. The Department of Planning and Investment will propose amendments to the exiting legal framework with a focus on start-ups, innovation and the operation of new business models based on digital technology. The city will also study and propose policies about a science and technology development fund for digital technology companies to promote investment in tech start-ups. Vietnam targets to have at least 100,00 digital technology companies by 2030, with the digital economy accounting for more than 30 per cent of the country’s gross domestic product (GDP). The e-Conomy Southeast Asia 2019 report published by Google, Temasek and Bain at the end of 2019 showed that Vietnam’s digital economy was valued at US$12 billion or 5 per cent of the … [Read more...] about Hanoi to create favourable conditions for digital technology companies

Despite this, Lam states that, "achieving the 6.8% growth target is a big challenge as the country has a high level of economic openness, over 200% annually, and is heavily dependent on outside partners while major partner countries are closing trade borders to prevent the epidemic outbreak which is exerting an enormous impact on the Vietnamese economy". … [Read more...] about Solutions for Vietnam to maintain its economic growth

More than 5,000 people have died in the US, including a six-week-old baby in Connecticut, believed to be the youngest American victim of the virus so far. Officials warned as many as 240,000 people could die in the US,even with the mitigation measures in place. … [Read more...] about Coronavirus: More than 10,000 lives lost in Spain

The challenge is that there is still insufficient reliable data available for these experts to be able to give us any definitive conclusions. While the updated information being released from China and South Korea would suggest that they are in the process of entering the stage of recovery, we are still waiting to see what happens next in both countries. Having looked at what is being written in authoritative journals, a prevailing view is that Europe and North America may not fare so well, given their relative lack of experience in handling such outbreaks compared to Asia. The lack of understanding in how and when the spread of this virus will be contained means that analysts are divided on the estimates of the economic damage which is likely to involve a contraction by between 6 and 8 per cent. Coincidentally, exports to the EU are also estimated to fall in the first quarter, according to the statement of the country’s Ministry of Industry and Trade made on March 20. … [Read more...] about Patience deemed necessary for EU-Vietnam fog to clear