World bank

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

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 event gathered heads of N.A. agencies, ministries, and ministry-level agencies; representatives of some international organisations in Vietnam such as the U.N. Development Program (UNDP), the World Bank, the Asian Development Bank (ADB), the International Monetary Fund (IMF), and the International Labour Organization (ILO); along with economic experts and enterprises. N.A. Vice Chairman Hai said opinions raised at the consultation are a precious source of information for the law-making body to make decisions on important socio-economic issues. The forum is also a place for experts, scientists, and officials to express their in-depth, independent, and constructive viewpoints to boost quality and sustainable socio-economic development. He stressed that Vietnam has taken a number of measures to curb the COVID-19 pandemic, but the prolonged social distancing in many localities, including provinces and cities in key economic regions, industrial parks, and export processing zones, … [Read more...] about N.A., Gov’t officials consult with experts on socio-economic affairs

Chairman Vuong Dinh Hue (centre) chairs the meeting with experts in Hanoi on September 27. (Photo: VNA) Hanoi (VNA) – A consultation with experts on socio-economic affairs took place in Hanoi on September 27 under the chair of National Assembly (NA) Chairman Vuong Dinh Hue and Vice Chairman Nguyen Duc Hai. The event gathered heads of NA agencies, ministries, and ministry-level agencies; representatives of some international organisations in Vietnam such as the UN Development Programme (UNDP), the World Bank, the Asian Development Bank (ADB), the International Monetary Fund (IMF), and the International Labour Organisation (ILO); along with economic experts and enterprises. NA Vice Chairman Hai said opinions raised at the consultation are a precious source of information for the law-making body to make decisions on important socio-economic issues. The forum is also a place for experts, scientists, and officials to express their in-depth, independent, and constructive … [Read more...] about NA, Gov’t officials consult with experts on socio-economic affairs

At the consultation (Photo: VNA) Hanoi (VNA) – Experts shared opinions and proposed measures to promote quality and sustainable socio-economic development amidst and after the COVID-19 pandemic at a consultation chaired by National Assembly Vuong Dinh Hue on September 27. According to Dr Tran Thi Hong Minh, Director of the Central Institute for Economic Management ( CIEM ), international organizations have made optimistic, though cautious, assessments on global economic recovery momentum in 2021. However, research and policy discussions shared the view that the world economic growth recovery is still under the influence of three main risk groups, including complicated developments of the COVID-19 pandemic, geopolitical competition, and inflation and debt risks, she went on. Hanoi speeds up COVID-19 vaccination programme for people (Photo: VNA) Vietnam's economic prospects may be influenced by a number of factors, including the ability to control the COVID-19 … [Read more...] about Experts propose three phases for post-pandemic economic development

Dai-ichi Life Group sailing through the fog of uncertainty Dai-ichi Life Group has reported stellar performance thanks to successful crisis response efforts. As of March 31, the group reported a total premium income of around $43 billion, with investment income reaching nearly $24.65 billion. Thanks to cost-effective operations and concerted strategic business plan, Dai-ichi Life Insurance Co., Ltd.’s ordinary profit was recorded at nearly $5 billion while net income per share was around $3, 11 times higher than that of last year. The group owns total assets of more than $578 billion. This year also marks an important tour de force for the Japanese group, when TAL Dai-ichi Life Australia Pty., Ltd. acquired Westpac’s life insurance business in Australia for a cash consideration of around $660 million plus adjusted net worth on completion. Westpac is Australia’s first bank and oldest company, and Dai-ichi Life was delighted to be partnering with one of Australia’s largest and … [Read more...] about Dai-ichi Life Group sailing through the fog of uncertainty