Vietnams economy

Vietnam’s tuna exports to EU see strong surge thanks to EVFTA Vietnam exported 15,870 tonnes of tuna worth 73.33 million USD to the European Union in the first half of 2021, up 39.3 percent and 31.6 percent, respectively, against the same period last year, according to a journal published by the Ministry of Industry and Trade (MoIT). The tuna shipments accounted for about 15.1 percent of Vietnam’s total seafood export value to the EU. In the second quarter of 2021, the country shipped 9,360 tonnes of tuna to this market, raking in 45.05 million USD, up 43.9 percent in volume and 59.3 percent in value from the previous quarter. The surges were attributed to tariff reductions granted to Vietnam’s tuna products under the EU-Vietnam Free Trade Agreement (EVFTA), which took effect on August 1, 2020. According to the MoIT, Vietnamese tuna was sold at 4.62 USD per kg on average to the EU in the first six months of the year, down 0.27 percent year on year. The global tuna prices … [Read more...] about VIETNAM BUSINESS NEWS SEPTEMBER 25

Vietnam continues to remain an attractive investment destination in the long term. Foreign Direct Investment (FDI) commitments during the first nine months of 2021 rose by 4.4% year-on-year to US$22.15 billion, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown. Production at YPE VINA in Binh Xuyen 2 Industrial Park, Vinh Phuc Province. Photo: Hoang Hung Meanwhile, the serious Covid-19 situation in southern provinces/cities has led to temporary disruption of production and a reduction of 3.5% year-on-year in FDI disbursement to around $13.28. billion. Principal Country Economist of the ADB in Vietnam Nguyen Minh Cuong said the pandemic and subsequent restriction measures are wreaking havoc on businesses as a whole, including foreign companies. Cuong, however, noted for foreign businesses, any investment decision into a country would take into account long-term considerations, and they are rarely fazed by … [Read more...] about FDI commitments to Vietnam rise nearly 5% in 9-month period

The speed of economic recovery would largely depend on the scale of the vaccination program, although testing remains a key solution to prevent the spread of the pandemic. The serious Covid-19 situation, slow progress in the vaccination program, and strict requirements on movements are among issues that downgraded Vietnam’s rank among the world’s fastest-growing economies. Chairman of the National Assembly Vuong Dinh Hue at the meeting. Source: quochoi.vn World Bank’s lead economist Jacques Morisset stressed the view in a social-economic consultation conference held today [September 27] under the chair of the Chairman of the National Assembly Vuong Dinh Hue. In this regard, Morisset called for more efficient management of movement limitations by simplifying procedures and a smooth data-sharing mechanism between agencies. To stabilize the macro-economic condition, the World Bank expert suggested the Government keep a balance between monetary and fiscal … [Read more...] about Solutions for Vietnam to claim spot among world’s top economic prospects

President Nguyen Xuan Phuc speaks at the high-level general debate of the 76th UN General Assembly (Photo: VNA) Moscow (VNA) - Vietnam's role in the international arena and its responsible contributions to the United Nations (UN) were highlighted in an article published by Russia ’s leading e-newspaper Infox.ru on September 24. The article by Grigory Trofimchuk, an expert on international affairs, highly valued  the role, international position, as well as outstanding achievements of Vietnam in recent years, and spotlighted the effective and active working programme of President Nguyen Xuan Phuc at the UN General Assembly. It mentioned President Nguyen Xuan Phuc's proposal at the high-level general debate of the 76th UN General Assembly on practical solutions such as removing barriers that hinder global vaccine supplies, comprehensively promoting trade cooperation to accelerate post-pandemic economic recovery, enhancing digital transformation, and increasing labour … [Read more...] about Russia newspaper spotlights Vietnam’s responsible contributions to UN

Vietnam’s premier has directed relevant agencies to work with their foreign counterparts on reciprocal recognition of COVID-19 immunization certifications, often called 'vaccine passports,' to facilitate travel amid the pandemic. In a recent dispatch, Prime Minister Pham Minh Chinh asked the Ministry of Foreign Affairs and the Ministry of Health to promptly discuss the mutual recognition of COVID-19 vaccination certifications with competent authorities of ASEAN countries, EU member states, the U.S., China, Japan, and others. Such reciprocal recognition is important and necessary in the current context when many countries in the world have reopened their economies and brought socio-economic activities back under 'new normal conditions' while continuing to drive back the COVID-19 pandemic, PM Chinh said. 'Vaccine passports,' which may be in paper or electronic form, have been applied by some areas in the country as a means to welcome back international tourists in the coming time. … [Read more...] about Vietnam considers mutual recognition of ‘vaccine passports’ amid COVID-19

With specific conditions, Ho Chi Minh City has asked for the Prime Minister’s permission to apply special regulations to reopen the economy. A street of HCM City. Photo: Thanh Tung HCM City Chairman Phan Van Mai has sent a petition to the Prime Minister about the application of special regulations for reopening the city’s economy. In the petition, the city praised the efforts to develop the Guidelines "Safe and flexible adaptation, effective control of the Covid-19 epidemic". However, with specific conditions, the city recommends the Prime Minister to consider: To allow the city to apply its own regulations decided by the Prime Minister to be able to open the economy. Ho Chi Minh City will coordinate with relevant authorities to research and report to the Prime Minister on this issue. To give priority to allocate Covid-19 vaccines for the city and the southern key economic region to soon achieve vaccine coverage according to the provisions of the … [Read more...] about HCM City wants to have its own regulations to reopen the economy