How to tariffs affect the economy

While most other countries are struggling with economic recession due to the Covid-19 pandemic, the Vietnamese economy is taking firms steps towards international integration. Vietnam’s GDP is expected to grow 2.4 percent in 2020 and continue its strong recovery in 2021 with a growth rate of 6.5 percent when domestic and foreign trade returns to normal. Vietnam’s decisive actions in preventing recession and controlling the pandemic have been a major driving force of its economic growth in 2020, which is forecast to increase further in 2021. … [Read more...] about Vietnam optimistic about growth in first half of 2021

Accordingly, there are eight types of pork in the market stabilization program whose retail prices increased this time. Of which, the price of ham rose from VND145,000 to VND151,000 kg; that of pork shoulder from VND145,000 to VND158,000 per kg; that of pork loin chops from VND140,000 to VND153,000 per kg; that of pork shanks from VND129,000 to VND139,000 per kg; that of pork armpit from VND127,000 to VND137,000 per kg; that of pork shoulder and ham lean from VND175,000 to VND190,000 per kg; that of pork tail bone from VND103,000 to VND113,000 per kg; that of pork bones from VND77,000 to VND85,000 per kg. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 16

HCM CITY — Vietnamese farm produce exporters are expected to benefit from increased participation in global value chains as a result of the Regional Comprehensive Economic Partnership (RCEP) and the UK-Việt Nam Free Trade Agreement (UKVFTA), speakers said yesterday at a conference in HCM City.  … [Read more...] about Agricultural exports set to join more global value chains as new FTAs take effect

The government defined 11 key missions and measures, including effective implementation of tasks to serve the organisation of the Party Congress, election of deputies to the National Assembly (NA) and all-level people’s councils, and preparation, issuance, and implementation of action programmes to carry out the resolutions. The government will also continue implementation of tasks in a flexible and effective manner – to simultaneously fight the pandemic and boost economic growth; while completing institutions for the socialist-oriented market economy, thus facilitating economic recovery and development based on stabilising the macro-economy and curbing inflation rate, as well as improving the economy’s resilience. … [Read more...] about New economic priorities for a new year

HCM City (VNA) - The recently-signed Regional Comprehensive Economic Partnership (RCEP) agreement will create opportunities for Vietnam’s agricultural products to extend their reach in the region and the world, experts have said. Le Duy Minh, President of the Vietnam Farms and Agricultural Enterprises Association, told a meeting in Ho Chi Minh City on January 15 that the agriculture sector has been integrating intensively and extensively into the world but also faces considerable difficulties and challenges, including the impact of the COVID-19 pandemic, climate change, trade disputes between major economies, and an increase in technical barriers in many countries. Vietnam signed a number of important economic deals in 2020, heralding a new era of economic integration with opportunities to expand export markets and attract more domestic and foreign investment. Among the deals, the RCEP, which gathers together 10 ASEAN countries and five partners (the Republic of Korea, China, … [Read more...] about RCEP to help farm produce expand presence in global markets