Stable economic growth

In response to the World Tourism Day 2021, Vietnam has set up step-by-step plan to welcome international visitors again. The United Nations World Tourism Organization (UNWTO) has announced World Tourism Day 2021 on September 27 as a day to “focus on tourism for inclusive growth”. This is an opportunity for all nations, including Vietnam, to look beyond tourism statistics and acknowledge that, behind every number, there is a person. The Bat Xat terraced rice fields, Sapa Town, Lao Cai Province. Photo: James Huynh On this occasion, the UNWTO reaffirmed a commitment to build a more prosperous and peaceful world through tourism. "As tourism grows, the benefits that come will be felt at every level of our broad and diverse sector, from the biggest airline to the smallest family," it said. “It is a pledge that is both timely and necessary in the pandemic because it has led to the pause in international travel, making a clear relevance of tourism to our … [Read more...] about Vietnam responds to World Tourism Day 2021 for inclusive growth

Carolyn Turk and Kyle Kelhofer The country’s robust and sustained economic growth was driven by open trade, sector liberalization, and an export-oriented growth model, in which the private sector played a leading role. With success comes confidence, and Vietnam set a goal of becoming a high-income country by 2045. Then came Covid-19, though, even before the pandemic, some of the forces fueling Vietnam’s growth had evolved. For example, while technological change is reshaping the country’s manufacturing-led export strategy, other challenges include an aging population, the need for improved regulations, enhanced competition, upgraded infrastructure, skilled workforce, and better access to finance. During the first wave of Covid-19, Vietnam set a global example by taking swift action to contain the virus. The country was one of the few economies globally to register growth in 2020, and its output was well above its pre-pandemic level by the end of the second quarter of 2021. … [Read more...] about Strengthening the private sector can get Vietnam back in the fast lane

Post-pandemic cooperation prospect of Vietnam, Hong Kong The Vietnamese Ministry of Industry and Trade and the Commerce and Economic Development Bureau of the Hong Kong Special Administrative Region Government (China) jointly held a teleconference on post-pandemic economic recovery – Vietnam-Hong Kong partnership on September 20. Speaking to Vietnam News Agency's correspondents, Anthony Lam, Executive Deputy Chairman of the Federation of Hong Kong Industries (FHKI) and CEO and Vice Chairman of the Golden Resources Development International Ltd., said a number of Hong Kong manufacturers have recently expanded production out of Hong Kong and to ASEAN, including Vietnam, for different reasons. About the potential of cooperation between Vietnamese and Hong Kong firms, Lam said Hong Kong is focusing resources on health care and pharmaceuticals so its businesses could consider investment in those fields in Vietnam. He stressed that Vietnam boasts a young, hardworking, … [Read more...] about VIETNAM BUSINESS NEWS SEPTEMBER 20