Vietnam investment trust

A corner of Ho Chi Minh City (Photo: VNA)

Kuala Lumpur (VNA) –  The Malaysian news service site theinnews.com (INS) has published an article, titled “Vietnam’s economy to keep growing solidly with new leaders”, highlighting that despite COVID-19, Vietnam has emerged as a shining star in Asia.

The article said the country’s political and economic achievements came from pandemic containment efforts that restrict COVID-19 impact on the economy. It noted the country has also wisely invested heavily in public healthcare system, which had benefited its people even before COVID-19.

“Effective management of COVID-19 has allowed the country to outperform all its regional counterparts,” it said, citing an example that Vietnam’s economy grew 2.9 percent last year from a year ago, outperforming even China which posted 2.3 percent growth during the same period according to the International Monetary Fund (IMF).

The article also noted that as ASEAN Chair in 2020, while developing collective effort against COVID-19 and establishing joint groups related to public health emergencies, Vietnam undertook major initiatives under its chairmanship including cooperation on transnational crime, public security and coordination among the ASEAN law enforcement agencies.

Regarding Vietnam’s transition of leadership, the article expressed its belief that its new leaders will help develop the nation further.

It said in the face of a challenging situation in several countries in the region due to domestic political, economic and social instability, Vietnam stands out as a place of calm in a storm of uncertainty with a strong government in place that has managed to keep people employed and taken care of./.

Prospects are bright for Vietnam’s labour market this year

The report also reveals that 58 per cent of those employed anticipate looking for new job opportunities, while another 34 per cent are passively open to new roles. Around 10 per cent expect a zero pay increase from their current salary for new job offers.

The insights in this report are derived from a regional survey that covers 12 Asia-Pacific markets. The responses came from over 5,500 businesses and 21,000 employees, of which 3,500-plus are directors or CXOs.

Mark Donnelly, director of Michael Page Vietnam says, “By all accounts, Vietnam has weathered the COVID-19 pandemic better than many of its neighbours in the region. Its tight and swift control of the situation not only kept the number of cases low by comparison, Vietnam’s economy, too, remained in a relatively good shape over 2020. While multinational companies based there were cautious on the recruitment front, domestic companies took the opportunity to ramp up their hiring activities and secure the best available talent.”

“Our Talent Trends 2021 report reflects vital market insights for the next 12 months ahead of us. Acquiring and retaining high potential talent will be crucial for future growth. We saw many businesses looking to prevent employee cuts and redundancies as much as possible during the pandemic. And several industries are already showing signs of a healthy recovery,” he said.

This was evident especially among Vietnam’s burgeoning technology sector. Startups and e-commerce, for example, operated unabated throughout the year, and hiring demands within those sectors were healthy.

In recent times, Vietnam’s efforts to position itself as a hub for software development also paid off in 2020, with markets like Japan, Hong Kong, China, and South Korea investing heavily into the country’s technology sector. Despite a slow year for manufacturing, Vietnam still saw a record year in terms of export surplus – a positive indicator for the road ahead.

Looking ahead, Vietnam is well-positioned to bounce back from the impact of COVID-19. In the meantime, businesses are well-advised to focus on employee engagement and well-being, ensuring that the entire organisation is poised for the recovery phase and beyond, according to Donnelly.

The Ministry of Construction in coordination with the UN Human Settlements Program (UN-Habitat) and SECO organized a workshop on April 13 to launch the project.

According to Dr. Nguyen Quang, UN-Habitat Program Manager in Vietnam, of the total funding for the 2020-2025 project, 3.8 million CHF will be managed by UN-Habitat while 450,000 CHF will be under the management of SECO.

The main goal of the project is to strengthen the capacity of national and local institutions to promote, plan, and implement innovative and participatory solutions for sustainable urban development in Vietnam.

The project will be implemented over a period of five years by UN-Habitat in close coordination with the Ministry of Construction, the Ministry of Planning and Investment, and city governments.

Marcel Reymond, head of Development Cooperation at the Embassy of Switzerland in Vietnam, said Vietnam’s socio-economic growth will only be maintained if there are measures to enhance the economic potential and competitiveness of urban areas and to improve the living standards of urban residents.

He expressed his belief that the project will bring about great socio-economic and environmental benefits, thus facilitating the transformation of sustainable development models in Vietnamese cities.

Vietnam is among countries with the most rapid urbanization rates in Southeast Asia, with the number of urban areas jumping from 480 to 830 between 1986 and 2019.

Source: VNA

The news site Porady published a feature on Vietnam’s new leaders and opportunities for Ukraine by Ruslan Bortnik, head of the Ukrainian Institute of Politics.

The article reviewed Vietnam’s outstanding achievements after 35 years of Doi Moi (renewal), especially political stability, economic growth, and responsibility in building an international environment of peace.

The author said an increasing number of IT start-ups in the nation has attracted a significant amount of foreign investment. The people and society, meanwhile, put enormous faith in the capacity of the new leadership to successfully carry out economic development tasks and strengthen the country’s position in the international arena.

In its recent article, from-ua.com said with achievements in the fight against COVID-19, Vietnam is planning to reopen its door to international visitors in July. The nation is also welcoming foreign investors in the context that it houses a large number of advanced production models and strong economic groups.

The article noted that high-ranking personnel changes taking place in stable political conditions and robust socio-economic development are a premise for strengthening local people’s confidence on the path of completing institution, promoting strong interactions between society and authorities, and improving the overall “happiness index”.

Other Ukrainian newswires, including Golos.ua, also posted articles analysing Vietnam’s reform experience and reviewing its growth, particularly the nation’s effective pandemic containment and economic development last year. They were confident in the new leadership’s capacity of steering the country toward sustainable growth and higher international positions.

Source: VNA