Vietnam must have really strong local enterprises to have a self-reliant economy. This poses an urgent need, that is the attraction and use of FDI in the next phase must bring about qualitative efficiency, meaning that the value of the production chain in Vietnam must belong to Vietnamese enterprises. Meanwhile, the private sector currently has a dominant presence in the economy, with some 800,000 enterprises operational as of October 2020, but over 95% of them are micro, small and medium busiensses. Therefore, the concentration of all resources available (capital, including land, high-quality manpower, incentives and so on) to develop the private sector economy is an urgent need for FDI attraction in the next phase. If private enterprises remain micro, small and medium, lack capital and technology, and still face administrative troubles, Vietnam will not have sufficient enterprises big and strong enough to be able to ally and partner with foreign enterprises so as to master each area … [Read more...] about Private sector development to enhance FDI efficiency
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Life and times of a Dong Ho artist
“I used to practise painting when I came home from school, so the steps to take and tips on making a complete artwork are engraved on my memory,” she said. “It has been my main source of income throughout my life and, coincidentally, I became the daughter-in-law of late artisan Nguyen Huu Sam.” … [Read more...] about Life and times of a Dong Ho artist
Party Central Committee’s 15th plenum ends earlier than expected
Trong asked the Committee members to continue maintaining their solidarity and responsibility and ensure the successful organization of the 13th National Party Congress, which is the country's most important political event of the year, meeting the expectation of the whole Party and people. … [Read more...] about Party Central Committee’s 15th plenum ends earlier than expected
Supporting start-ups to adapt to new normal
In Hanoi, in spite of the COVID-19 pandemic, in the first three months of this year, more than 6,300 new businesses were established with total capital of VND103 trillion ($4.5 billion). It was an increase of one per cent in terms of the number of new businesses compared to the same period last year but a surge of 98 per cent of registered capital. … [Read more...] about Supporting start-ups to adapt to new normal
