The Vietnamese Ministry of Health on Wednesday reported an additional 913 Covid-19 infections, raising the country's total tally to over 10.75 million. Illustrative photo According to the ministry's report, most of the new patients are locally-transmitted cases confirmed in 42 out of 63 localities in the country. As of Wednesday evening, the number of Covid-19 patients in Vietnam has increased to over 10.75 million. On July 6, an additional 7,626 more patients recovered from the disease, raising the number of recoveries in the country to over 9.73 million. On Wednesday evening, no deaths related to Covid-19 were recorded, the country's total fatalities stay at 43,089, accounting for 0.4 per cent of total infections. By July 5, Vietnam had injected more than 234 million doses of Covid-19 vaccines, including over 8.85 million given to children aged 5 to 11. Speaking at a Monday meeting, deputy minister of health Nguyen Thi Lien Huong said that the … [Read more...] about Additional 913 new Covid-19 infections reported on Wednesday
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IMF hails Vietnam’s moves to cushion COVID-19 impacts
A COVID-19 vaccination site in Hanoi (Photo: VNA) Tokyo (VNA) - The Executive Board of the International Monetary Fund (IMF) has highly valued Vietnam’s policy support to cushion the impact of COVID-19 in tandem with successful maintenance of fiscal, external, and financial stability and an impressive vaccination rollout. In a press release following a recent consultation with Vietnam, the IMF Executive Board said a recovery is underway and high frequency indicators point to stronger momentum going into 2022, with rising retail sales, industrial production, and firm entry. Growth is expected to reach 6% in 2022 as activity normalisation continues and the programme for recovery and development is implemented. However, the recovery of the labour market is lagging as underemployment remains high. While inflation has recently picked up due to rising commodity prices and supply-chain disruptions, it remains well below the central bank’s inflation ceiling. The Executive Board … [Read more...] about IMF hails Vietnam’s moves to cushion COVID-19 impacts
Goodbye Shanghai: After 16 years, Covid curbs send American family packing
Heather and husband George arrived in Shanghai from New York in 2006 for a one-year adventure, but 16 years later their two-bedroom apartment in Shanghai’s historic former French Concession is the only home their children have ever known. So while repatriating to the United States is technically a homecoming for Heather and George, leaving Shanghai means leaving home for daughters Charlotte, 14, and Matilda, 12. Heather spent the month of June readying for a return to the United States. Her husband left weeks earlier with their family dog to help prepare for their new life in Washington D.C. "I haven't had the luxury to really grieve a lot of what I'm leaving behind because I need to get two kids and a cat out of here ... so it's been really focused on that logistics," she told Reuters from her flat which had just been emptied out by movers. The Kaye family are part of an exodus of both foreigners and locals from Shanghai as China's most cosmopolitan city tries to find its … [Read more...] about Goodbye Shanghai: After 16 years, Covid curbs send American family packing
Tax for development: Does Vietnam need tax reform?
Patrick Lenain - Former assistant director Organisation for Economic Co-operation and Development Schools and universities will need to adopt new technologies. Public transportation networks will need to be upgraded. Large-scale logistical hubs will be required to remain integrated in global supply chains. Old-age citizens will need welfare support. Electricity generation will need to decarbonise. Coastal cities will need to adapt to rising sea levels. Military spending will need to protect the country. And it is obvious that health spending remains a priority. Unfortunately, tax revenue is at present too limited to finance these large investments. Vietnam’s government collected tax revenue equivalent to 16 per cent of GDP last year, according to the International Monetary Fund. This is less than Malaysia (18.3 per cent), Singapore (18.5 per cent), India (19.7 per cent), Thailand (20.3 per cent), and China (27 per cent). This is also less than before the pandemic, reflecting … [Read more...] about Tax for development: Does Vietnam need tax reform?
Vietnam treasures and wants to deepen ties with Russia: PM
Prime Minister Pham Minh Chinh (R) receives Russian Minister of Foreign Affairs Sergey Lavrov. (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh received Russian Minister of Foreign Affairs Sergey Lavrov in Hanoi on July 6, during which the PM affirmed that Vietnam has attached great importance to its comprehensive strategic partnership with Russia and wanted to deepen and make the bilateral cooperative ties more effective in all spheres. Highly valuating the positive results in bilateral cooperation over the past years, PM Chinh thanked the Russian side for its valuable support and assistance to Vietnam in the past and during the current process of national construction and development, most recently in the fight against the COVID-19 pandemic. Lavrov said that Russia always considers Vietnam an important partner in the region and wants to further foster cooperation with the Southeast Asian country. Both sides agreed to further promote high-level agreements … [Read more...] about Vietnam treasures and wants to deepen ties with Russia: PM
Hai Phong striving to attract over 2.5 billion USD in FDI this year
Part of the Vietnam - Singapore Industrial Park in Hai Phong city (Photo: VNA) Hai Phong (VNA) – For the last half of 2022, Hai Phong city will apply itself to flexibly and effectively fighting COVID-19 and shoring up business and investment activities so as to attract more foreign direct investment ( FDI ), a local official has said. Nearly 1.1 billion USD of FDI was poured into the northern port city in the first six months, falling by over 11% from a year earlier and equivalent to almost 44% of this year’s target. FDI inflows are expected to stand at 0.85 billion USD in the third quarter and 0.85 - 1.1 billion USD in the fourth quarter. Le Trung Kien, head of the Hai Phong Economic Zone Authority , said the city looks to surpass this year’s FDI attraction target of 2.5 billion USD. To that end, the authority will boost investment promotion and attraction for the three pillars of economic development, namely high-tech industry, seaports - logistics, and … [Read more...] about Hai Phong striving to attract over 2.5 billion USD in FDI this year