Amid the various growth scenarios published by research organisations, for the Vietnamese economy after Covid-19, the Prime Minister has set a growth target of 5% for 2020, with inflation kept below 4%, which is to be achieved by five key measures, namely attracting foreign investment, boosting exports, increasing public investment, attracting private investment and promoting domestic consumption, of which the first two are more dependent on external factors while Vietnam can retain control over the latter three. … [Read more...] about Vietnam needs to boost public spending for economic recovery
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Former US Ambassador to Vietnam Michael Michalak, Senior Vice-President and Regional Managing Director of the US-ASEAN Business Council. (Photo: ISEAS – Yusof Ishak Institute) Former American Ambassador to Vietnam Michael Michalak, who is Senior Vice President and Regional Director of the US–ASEAN Business Council, said Vietnam seems to walk on the water while many countries are submerged with SARS-CoV-2 and the country has the right to be proud even though the war continues. … [Read more...] about What foreign ambassadors say about Vietnam’s coronavirus fight?
When the COVID-19 pandemic is over, it may be time for the public to adapt to the emerging trends, including those of the digital economy and digital payments. This is also an opportunity for businesses, including fintech companies, to rethink and reform themselves. According to the relevant statistics, among more than 150 fintech operating in the Vietnamese market, the activity that attracts the most attention is offering payment intermediary service, such as an e-wallet. Data from the State Bank of Vietnam (SBV) shows that, as of April 20, there were 33 non-bank organisations licensed to provide payment intermediary services, mostly e-wallets and payment gateways. According to experts, cashless payments in Vietnam have many advantages, such as the young population structure combined with the fast growing economy and middle class. Therefore, this market will see strong developments in the future. Competition among fintech companies will be fiercer, but on the other hand there is … [Read more...] about COVID-19 a boost for Vietnam’s fintech
As of May 14, Hanoi has delivered aids to 385,390 people affected by the Covid-19 pandemic, reaching 99.9% of the people entitled to receive such support, local media reported, citing the municipal Department of Labor, War Invalids and Social Affairs’ report at a May 27 meeting. … [Read more...] about Latest Coronavirus News in Vietnam & Southeast Asia May 29
In a report it released on Wednesday, ‘Vibrant Vietnam: Forging the Foundation of a High-Income Economy’, the WB said domestic and foreign business environments in Vietnam are volatile, and the nation should not rely too much on past successes and has to make upgrades to its current economic model if it wants to continue to flourish. … [Read more...] about Vietnam development model needs upgrade: WB