Week 32 year 2020

HCM City (VNA) – Ho Chi Minh City is taking drastic measures to promote disbursement of public funds, which plays an important role in economic development amidst the COVID-19 pandemic. According to the municipal People’s Committee, nearly 32 trillion VND (1.38 billion USD) was disbursed as of December 31, 2020, some 27.3 trillion VND of which came from the city’s budget (accounting for 74.1 percent of the assigned plan) and the remainder from the state budget (equivalent to 57.2 percent of the plan). Director of the municipal Department of Planning and Investment Le Thi Huynh Mai said the results did not live up to expectations of the Government and the city leaders, pointing out tardy disbursement of the Official Development Assistance (ODA) capital affected the city’s outcomes. Since the state budget year 2020 will end on January 31, 2021, the department will ask investors to speed up the work, striving for the disbursement rate of 95 percent for the … [Read more...] about HCM City speeds up disbursement of public capital

Moreover, Vietnam has seen strong growth of foreign direct investment inflows during the past two years. The EU-Vietnam Free Trade Agreement (EVFTA) took effect on August 1, 2020. Recently, the Vietnamese government presided over the signing ceremony for the Regional Comprehensive Economic Partnership (RCEP) Agreement which is forecast to create impetus for economic growth and trade for Vietnam in particular and other RCEP signatories in general. Vietnam is expected to benefit greatly from these free trade agreements, said Dr. Tran Du Lich, member of the Prime Minister’s Economic Advisory Group. … [Read more...] about Vietnam optimistic about growth in first half of 2021

Jakarta (VNA) – ASEAN Secretary-General Dato Lim Jock Hoi has lauded Vietnam’s leadership and persistence in leading the ASEAN in building the ASEAN Community, and especially in promoting the grouping’s joint efforts in coping with the COVID-19 pandemic. … [Read more...] about ASEAN leader complements Vietnam’s success in ASEAN Chair Year

“By all standards, Vietnam has managed the crisis very well. Looking ahead, Vietnam’s prospects appear positive as the economy is projected to grow by about 6.8 per cent in 2021 and, thereafter, stabilise at around 6.5 per cent. This projection assumes that the COVID-19 crisis will be brought gradually under control,” said the World Bank in its economic update for Vietnam released over two weeks ago. The update continued, “Vietnam’s economic resilience is explained by the behaviour of both its domestic economy and its external sector. Not only has the private sector reacted positively to the gradual easing of social distancing and mobility measures, but the government has changed the course of its fiscal policy to support the recovery.” … [Read more...] about New economic priorities for a new year

Tran Thi Ha (An Binh Tay commune, Ba Tri district, Ben Tre province) said, “In our family, there are only me and my son Khoa, who is currently an Automotives major at Dong Khoi Vocational College. I do all kinds of jobs from early morning to late night in the hope that he can continue his study and grow into a decent man. Recently, I started livestock farming, it is a small business but we have to make ends meet. This time, thanks to the support from GREENFEED, I think we could expend the business and have a better future.” … [Read more...] about GREENFEED continues 10-year journey of “Empowering the farmers” programme