South african automotive industry 2017

Institutions have become a major impediment to the nation’s aspiration to reach high income by 2045. Vietnam needs to shift its economic growth model and improve the government’s capacity to implement economic policy reforms and public investments, realizing its aspiration of reaching high-income status by 2045, a World Bank Group report says. Overview of the report launch. The World Bank Group’s Systematic Country Diagnostic Update, themed "How Will Vietnam Blossom? Reforming Institutions for Effective Implementation,” emphasizes that Vietnam's traditional growth model faces major challenges from the Covid-19 pandemic, slowing globalization, and the country’s increasing vulnerability to external shocks, especially climate risks. After identifying a series of policy responses and reform priorities, many of which are not new, the report argues that adapting institutions will be the key to success. “Vietnam’s GDP per capita has increased fivefold over the … [Read more...] about Effective policy implementation crucial for Vietnam to reach high-income status by 2045: WB

A wind power project in the northern province of Ninh Thuan. — Photo evn.com.vn The Vietnamese economy’s unparalleled exposure to multinational corporations and the global consumer market calls for a pragmatic alignment between the country’s renewable energy strategy and the decarbonisation commitments of the global brands, according to IEEFA’s latest report on Viet Nam. “Multinational corporations responsible for up to US$150 billion of Viet Nam’s export revenues have made specific pledges on carbon neutrality or decarbonisation of varying scope and timelines,” said Thu Vu, energy finance analyst leading the Vietnamese market coverage for IEEFA. “These brands’ journey toward sustainability progress is one in which Viet Nam can not afford to ignore or miss out on.” Viet Nam is currently the largest exporter of goods in developing Southeast Asia. With nearly 60 per cent of the exports being manufactured goods for the big brands, its growing role in the global supply chain … [Read more...] about IEEFA: Viet Nam’s manufacturing future rests on a credible renewable energy game plan

Prime Minister Pham Minh Chinh speaks at an event on innovation held by Asia Society on May 17 (US time). — Photos baochinhphu.vn Viet Nam expects to have start-up collaboration with the US on issues of global concern like climate change, digital technology and supply chain diversification. Prime Minister Pham Minh Chinh was speaking at a forum on innovation and start-ups held by the Asia Society on May 17 (US time) in the US. He affirmed that Viet Nam identifies science and technology, innovation and entrepreneurship as important driving forces for development in the new period. All three strategic breakthroughs that Viet Nam identified namely institutions, infrastructure and human resources are related to these forces, he added. The Prime Minister expressed his wish that US partners will continue promoting cooperation activities, especially in innovative start-ups. Start-up collaboration should focus on issues of global concern that the two countries are promoting … [Read more...] about Viet Nam to work with the US to develop start-ups on climate change, digital transformation