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Vietnam must have really strong local enterprises to have a self-reliant economy. This poses an urgent need, that is the attraction and use of FDI in the next phase must bring about qualitative efficiency, meaning that the value of the production chain in Vietnam must belong to Vietnamese enterprises. Meanwhile, the private sector currently has a dominant presence in the economy, with some 800,000 enterprises operational as of October 2020, but over 95% of them are micro, small and medium busiensses. Therefore, the concentration of all resources available (capital, including land, high-quality manpower, incentives and so on) to develop the private sector economy is an urgent need for FDI attraction in the next phase. If private enterprises remain micro, small and medium, lack capital and technology, and still face administrative troubles, Vietnam will not have sufficient enterprises big and strong enough to be able to ally and partner with foreign enterprises so as to master each area … [Read more...] about Private sector development to enhance FDI efficiency

By the beginning of December, the Government gradually loosened the lockdown in order to "save" the Christmas, and people were happy to go to work. This is the time when the pandemic spreads at the most terrible speed. Around 30,000 new infections were reported per day and 300 to 400 among them died. In some days, the number of deaths even reached over 1,000 people. … [Read more...] about An overseas Vietnamese: Covid-19 infected, in lockdown and the desire to fly back home

HCM City (VNA) – The export of coffee declined in both volume and value last year due to certain difficulties that are forecast to linger on for the time to come, insiders have said. Nguyen Viet Hai, Vice Chairman of the Vietnam Coffee - Cocoa Association (Vicofa), told a meeting in Ho Chi Minh City on January 15 that in the 2019 - 2020 crop, 1.61 million tonnes of the bean was shipped abroad at the average price of 1,740 USD per tonne, bringing home 2.8 billion USD. The figures respectively fell 5 percent, 0.4 percent, and 5.3 percent from the previous crop. The export volume of processed coffee (roasted and ground coffee, instant coffee) dropped by over 17 percent to 110,000 tonnes, resulting a fall of 8.7 percent in value to more than 443 million USD, he pointed out. Hai noted coffee prices remain unstable, leading to a plunge in the purchase of the produce from farmers in the 2020 - 2021 crop. Fresh coffee is currently priced at 6.7 million - 6.9 million VND (about 289 - … [Read more...] about Difficulties still ahead for coffee sector: insiders

Frontline workers such as hospital staff, people over 50 and those deemed to be at high risk due to pre-existing medical conditions are on the shortlist to receive the vaccines. "We have got encouraging and satisfactory feedback results on the first day," Health Minister Harsh Vardhan told his state counterparts on Saturday. "This vaccine will indeed be a 'Sanjeevani' (life saver)" in the fight against the virus, he added. The health ministry said "no case of post-vaccination hospitalisation" had been reported, although local media said a security guard at the country's top-ranked public hospital, the All India Institute of Medical Sciences (AIIMS) in Delhi, had developed an allergic reaction shortly after getting his shot. A doctors' representative body at the Ram Manohar Lohia Hospital in New Delhi wrote a letter asking for the Oxford-AstraZeneca "Covishield" vaccine to be supplied instead of Covaxin to allay any fears. "The residents are a bit apprehensive about the lack of … [Read more...] about India hails ‘life saving’ Covid-19 vaccine rollout

Quang Binh (VNA) – Work started on a five-star hotel complex and an international convention centre, two key components of the FLC Quang Binh Beach and Golf Resort (FLC Quang Binh), in Quang Ninh district, the central province of Quang Binh, on January 17. The 500-room FLC Grand Hotel consists of two buildings, offering first-class facilities, such as an infinity pool, international-standard restaurants, a sky bar and cigar lounge, and an outdoor stage, said Vice Chairwoman of FLC Group Huong Tran Kieu Dung at the ground-breaking ceremony. The FLC Quang Binh International Convention Centre, meanwhile, is expected to become the province’s leading multifunctional conference centre with a hall providing nearly 1,200 seats. The 2,000-ha FLC Quang Binh has a total investment of 20 trillion VND (864.1 million USD). It will run the length of the province’s 5-km beach and own a six-star villa resort complex and high-class golf courses. Quang Binh is dubbed the "Kingdom of … [Read more...] about Work starts on FLC Quang Binh Beach and Golf Resort