Vietnamese and Japanese firms receive support to expand operations The Japan Trade Promotion Organisation (JETRO) will host an online scheme on March 3 in Hanoi aimed at connecting Japanese businesses in the field of manufacturing and production, known as Monozukuri in Japanese term to facilitate co-operation amid the negative impacts caused the COVID-19 pandemic. According to a representative from the JETRO, the business matching programme will see the participation of 40 Japanese companies for the purpose of accelerating the development of the country’s supporting industry. At present, the scheme has received registration for 50 negotiations from enterprises from Japan, Vietnam, and Taiwan (China), whilst it is still receiving registration from businesses wishing to purchase and seek Japanese suppliers in the Monozukuri field until March 1. A recent survey conducted by the JETRO unveiled that Japanese businesses remain keen on the Vietnamese market as the country is viewed as an alternative investment destinations for Japanese enterprises looking to move away from China due to the COVID-19 pandemic. The survey indicates that approximately half of Japanese enterprises in the nation plan to expand their production activities, while roughly 70% of them seek opportunities to increase revenue in the local market. Most notably, 46.8% of Japanese enterprises unveiled that they have initiated plans to expand their business in the nation over the course of the next two years, with the expansion rate ranking fourth, the highest in the Asia-Pacific region. Japanese enterprises have therefore attributed their expansion to an increase in revenue in the domestic market and high growth potential. Furthermore, Japanese firms are also considering re-establishing some supply chains which have been impacted by the COVID-19 pandemic, with Vietnam able to capture the attention of suppliers and buyers of materials globally. VN-Index finishes lower as …
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Vietnam remains steadfast in 2020 GDP growth target of 6.8% despite nCoV: PM
The Hanoitimes - Revising down the growth target is not the right mindset at the moment, said Prime Minister Nguyen Xuan Phuc. Vietnam remains steadfast in determination to reach the GDP growth target of 6.8% for 2020 although the ongoing outbreak of the new coronavirus (nCoV) is having a direct impact on the economy, according to Prime Minister Nguyen Xuan Phuc. Overview of the meeting. Source: VGP. Strong measures, including the restructuring of economic sectors, are needed to prevent a slowdown in economic growth, said Phuc at a monthly government meeting on February 5, adding adjusting the growth target is not the right mindset at the moment. In the first quarter, the country’s GDP growth could slow by one percentage point, while adversities surrounding the Chinese economy would continue to impact Vietnam, Phuc asserted. Regarding this issue, Minister of Planning and Investment Nguyen Chi Dung said the epidemic is expected to directly hit Vietnam's exports, particularly shipments of agricultural products, fisheries, textile, phones and spare parts. Meanwhile, the number of foreign tourists coming to Vietnam would decline due to the suspension of visa issuance to Chinese nationals and fear of the virus. Dung added that indirect impacts would spread among agricultural production, industrial sectors and investment activities, among them, the agricultural sector would suffer the most, particularly such commodities with high export volume to China as vegetables, seafood and agricultural products.. “A growth target of 6.8% in 2020 is very challenging,” stated Dung. A representative of the Ministry of Industry and Trade (MoIT) said the impact from the epidemic on Vietnam is inevitable, given the close economic linkage between Vietnam and China. The extent of impact of the outbreak on Vietnam's economy, however, would depend on how long it would last. According to the MoIT, all impacts are currently just temporary. However, if the …
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VIETNAM NEWS HEADLINES MARCH 5 (updated hourly)
Many elderly people join 2nd stage of Nano Covax vaccine trials A total of 367 volunteers, including 30 aged over 60, have been injected with Nano Covax, Vietnam’s first homegrown COVID-19 vaccine candidate, in the second phase of its human trials, according to the Military Medical University. The second stage has been conducted by the university and the Ho Chi Minh City-based Pasteur Institute since February 26. It has been carried out at the university in Hanoi and the medical centre of Ben Luc district in the southern province of Long An, with the participation of 560 volunteers aged from 12-75, including 80 aged over 60. They will receive two doses of either the vaccine or the placebo AIPO4, with an interval of 28 days. Each volunteer will be monitored for 12 months after the first dose. Volunteers receiving shots on the morning of February 26 will receive the second doses in late March. Lieutenant-General Do Quyet, Director of the Military Medical University, said since the trial sees the participation of volunteers with underlying health conditions, competent authorities have been prepared for all scenarios and ensure safety for all volunteers. Results of the trial will be announced in May 2021 before preparing for the third-stage trial during which only one single shot of the vaccine will be administered to 10,000-15,000 people from both domestic and foreign pandemic-hit regions, Quyet added. Developed by the Nanogen Pharmaceutical Biotechnology JSC and the Hanoi-based Military Medical University, Nano Covax is Vietnam’s first COVID-19 vaccine to reach the human trial stage. The first-stage trial of the Nano Covax vaccine showed that it is likely to be effective against the B117 variant from the UK. Vietnam is one of 40 countries and territories in the world to have begun human trials of a COVID-19 vaccine, after successfully producing coronavirus test kits early in the pandemic./. National university processes complaint of lecturers in …
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