Economic growth of vietnam

In the latest effort, the Government issued Resolution No 68/NQ-CP mid-May, setting targets for the 2021-25 period that at least 20 per cent of the number of regulations would be removed or simplified and at least 20 per cent of compliance costs firms incurred to adhere to Government regulations which were in effect as of May 31 would be reduced. … [Read more...] about Gov’t to boost firms, private investment to accelerate post-pandemic growth

Vietnam is expected to see a new foreign direct investment (FDI) wave as more foreign companies plan to move investment into the country. The US-China trade has triggered the trend of shifting production lines from China to Southeast Asia and other markets, including Vietnam which was seen as a promising destination. Meanwhile, many countries are fighting against the Covid-19 pandemic while Vietnam has basically controlled the disease, while maintaining its economic growth momentum. Pegatron, Amazon and Home Depot have started recruiting and seeking to open new supply chains with Vietnam being among potential markets.Other US giants like Google and Microsoft have announced their plans to relocate their production facilities of new phones, personal computers and some other devices from China to Southeast Asia with factories in Vietnam and Thailand expected to be the beneficiaries, the Nikkei Asian Review reported.Microsoft is scheduled to start producing its Surface line, including … [Read more...] about More giant foreign firms plan to shift investment into Vietnam

Comprised of over 700,000 businesses of various sizes, the private economic sector last year ultimately made up approximately 42% of the country’s gross domestic product and employed up to 80% of the national labour force. Indeed, many private investors such as Sungroup, Vingroup, and BRG have been able to develop well-known brands in a market that is largely associated with large projects through utilising modern technology in both production and business. … [Read more...] about Vietnam strives to effectively attract private investment

Le Hoai Thu (Ho Chi Minh City) said that she had important duties in Hanoi but hesitated to fly as she thought that airfares would be expensive post-pandemic. However, she decided to buy tickets right away when she saw the affordable airfares on Vietjet’s website. “I reckon that ticket promotions like Vietjet’s do not only boost the recovery of aviation but also create great value for people like us to travel at ease,” said Thu. … [Read more...] about Vietjet returns to Vietnam’s clear blue skies

Last Sunday, the first smart city project in Hanoi, carried out by Japan’s Sumitomo and Vietnam’s BRG Group, was officially inaugurated on an area of 330 hectares. So far, 33 cities and provinces around Vietnam have implemented smart city initiatives. Ho Chi Minh City and Hanoi are set to become sustainable cities of the future. As part of the government target which aims to make Ho Chi Minh City the first smart city in Vietnam by 2020 and Hanoi by 2030, billion-dollar mega projects are currently underway to build smart cities. Over the years, urbanisation has been a drive for national socio-economic development. The whole country has more than 830 urban areas and the national urbanisation rate has reached 38.6 per cent. The average economic growth in urban areas is 12-15 per cent, 1.5 to two times higher than the national rate. Urban areas have been the centres of socio-economic activities, innovation, education, scientific and technological research, production, trade … [Read more...] about Big expectations for Vietnam in sustainable smart city development