Taking sample for COVID-19 testing. (Photo: VNA) London (VNA) - Vietnamese businesses in the UK donated over 2 billion VND (more than 87,800 USD) to support COVID-19 prevention and control efforts in Vietnam at a ceremony marking the 15th anniversary of the Vietnam Business Association in the UK (VBUK). At the ceremony held on September 15 in London, Vietnamese Ambassador to the UK Nguyen Hoang Long called on the VBUK to maintain its role as a bridge between the business community in the UK and Vietnam. He said that bilateral trade between Vietnam and the UK has increased about 10 times from 600-700 million USD in 2007 to 6.5 billion USD in 2021, and is expected to reach 10 billion USD thanks to the implementation of the UKVFTA. The Ambassador emphasized that this is a great opportunity that Vietnamese businesses in general and Vietnamese businesses in the UK in particular need to take advantage of. Pham Minh Nam, chairman of VBUK in the just-concluded tenure, said … [Read more...] about Vietnamese businesses in UK support pandemic fight in home country
Home grown vaccines
Ho Chi Minh City authorities are drafting a pilot program that will give certain groups of people the freedom to travel throughout the city and participate in socio-economic activities. People who have either been fully vaccinated against COVID-19 or who have recovered from the disease will be permitted to obtain a green pass, according to the Ho Chi Minh City Center for Disease Control. Recovered COVID-19 patients can produce natural antibodies which protect them from contracting the disease for several months, similar to those who have been fully vaccinated. Those who have recovered from the disease must present a certificate of discharge issued by a hospital or a confirmation of COVID-19 quarantine completion issued by the steering committees for epidemic prevention and control of wards, communes, or towns. Individuals who detected their infections after taking rapid antigen tests by themselves and practiced home quarantine must present a confirmation of their home … [Read more...] about Who are eligible for green travel passes in Ho Chi Minh City?
The logistics sector has been hammered this year with spiralling costs and container shortages. Photo: Le Toan According to the Organisation for Economic Co-operation and Development’s (OECD) recently-released study on small-package delivery services and logistics in Vietnam, there are obstacles in the sector arising from statutory barriers, such as restrictive regulations. The OECD found that logistics as a whole is qualified in legislation as a “conditional business sector”, with the consequence that foreign direct investment (FDI) must satisfy certain conditions and is subject to specific limitations. Amongst others, foreign investors must obtain merger and acquisition (M&A) approval and meet several requirements on economic needs test, morality, community health, and more. Furthermore, foreigners are not allowed to hold more than 49 per cent shareholding in a public company. “Over the last 20 years, Vietnam has seen increasing M&A activity, whose percentage growth … [Read more...] about Woes persist in logistics regulations
Associated Professor Dr. Vu Minh Khuong from National University of Singapore The world has logged in the COVID-19 pandemic fight for more than 20 months since its first emergence, leaving tremendous impacts both economically and in people’s life. Albeit the pandemic situation is showing unpredicted complexities, many countries seem to acquire new perceptions in their pandemic fighting strategy, considering COVID-19 an endemic that cannot be fully eliminated. Looking at the global pandemic fight, as shown in Table 1 , some assessments can be drawn. First , the pandemic is plaguing almost all countries across all continents, irrespective of geographical location or level of development. As of September 16, 2021, of the surveyed countries the infection rate per one million people ranges from 5,300 in South Korea to 131,700 in Israel. Meanwhile, mortality rate per one million ranges from 10 cases in Singapore to 3,000 in Hungary. In the eyes of international … [Read more...] about Vietnam in global COVID-19 fight and reopening strategy
A woman given a vaccine shot in Hà Nội on September 15. Vaccination is the key to economic reopening, experts say. VNS Photo Trương Vị Thu Vân As the number of infections triggered by the Delta variant escalates in Việt Nam and a significant number of people were hospitalised or have passed away, Việt Nam has shifted its anti-pandemic approach from “zero COVID” to “living safely with COVID.” Among the changes in strategy, HCM City, the country's virus epicentre, since late July has piloted home quarantine and home treatment for COVID-19 patients, providing them with medicines, health supplements and care instructions. At a time when COVID-19 treatment facilities were becoming overwhelmed, the city decided that it would be focusing on reducing the death rate by decentralising treatment. Earlier, when the number of COVID-19 cases in the city was at a moderate level, all patients are treated at concentrated treatment facilities. With the three-tier treatment … [Read more...] about Living safely with COVID-19 in the ‘new normal’
Vietnam’s commitment for success of FDI companies and foreign investors can be seen through the Government’s efforts to improve the investment climate over the last few years. During a virtual conference on May 9th 2020, after successfully containing the pandemic, former Prime Minister of Vietnam told the business circle that the shift in the value chain is causing Vietnam to be viewed as the “heart of the chessboard”, that any player would want to win over. Resilience at hard time Last year, the country was described as “a bright star in the COVID-19 dark sky” by the World Bank Lead Economist and Program Leader for Vietnam, Jacques Morisset. It was proven by a GDP growth rate of 2.9 per cent in 2020, a level that only few countries in the world could have achieved during this dark time of global recession due to the pandemic. As of April 27th 2021, Vietnam had only reported 2,857 confirmed cases and 35 COVID-19-related deaths. The Southeast Asian … [Read more...] about FDI in Vietnam, resilience during challenging time