Nhân dân newspaper talked to some Vietnamese experts about the advantages of the digital economy in the course of applying the fourth industrial revolution. Nguyễn Bá Ân, secretary general of the National Council for Sustainable Development and Competitiveness Improvement At present many countries in the region have carried out their digital strategy including Việt Nam. But China and Singapore are the two leading nations. In our country, an e-Government system was launched several years ago, but the national system still needs further improvements. More recently, Prime Minister Nguyễn Xuân Phúc signed a decree on advancing the campaign to bring Industry 4.0 to life. But I’m sorry to say there remain many things to be done. When we talk about the digital economy, for many Vietnamese, that economy seems alien. But in real life, the internet of things has penetrated all corners of our socio-economic life. The foundation for … [Read more...] about Digital economy is the future for Việt Nam
Economy
US weak-dollar policy to have impact on Vietnam economy
VietNamNet Bridge - As the State Bank of Vietnam (SBV) pursues a stable dong/dollar exchange rate policy, the depreciation of the US dollar in the world market will also lead to the weakening of the dong. SBV pursues a stable exchange rate policyThe US Secretary of the Treasury Steven Munchkin has unexpectedly stated that a weak dollar in the short term will benefit US trade and economy. SBV on January 27 set the dong/dollar official exchange rate at VND22,419 per dollar, a decrease of VND6 per dollar. The prices quoted at the SBV Exchange were VND22,710 (buy) and VND23,078 (sell). … [Read more...] about US weak-dollar policy to have impact on Vietnam economy
Restructure economy to boost new firms: official
Favourable conditions are needed to increase the number of new businesses and startups in order to realise the target of 1 million enterprises by 2020, an official has said. The State should continue speeding up administrative reform, improving the business climate and legal framework, Nguyen Bich Lam, General Director of the General Statistics Office (GSO) said at a press conference in Ha Noi on Tuesday. Due attention must be paid to restructuring the economy, equitising state-owned enterprises, luring more foreign direct investment and facilitating the development of the private sector, while enforcing the Law on Support for Small- and Medium-sized Enterprises, Lam said. Inspection should be strengthened to ensure firms would make reports and provide timely and accurate information for competent agencies for better management, he added. Pham Dinh Thuy, Director of the GSO’s Industrial Statistics Department, underlined the need to increase inspections and supervision to ensure … [Read more...] about Restructure economy to boost new firms: official
Vietnamese economy shows positive signals in January
Illustrative image (Source: VNA) Hanoi (VNA) – The Vietnamese economy showedpositive signals in January with hikes in export-import as well as domestic andforeign investment. According to the General Statistics Office (GSO), there werenearly 11,000 newly-established firms nationwide with a total registeredcapital of 98.3 trillion VND (4.36 billion USD) in the month, up 20.6 percentin volume and 8.9 percent in value. The additional capital hit 316.4 trillionVND, proving that business confidence is improving. During the first month of 2018, the State investment hit16,175 billion VND, or 4.9 percent of the yearly plan and up 13.9 percentannually. Notably, the industrial production index surged by 20.9percent year-on-year as firms focus on manufacturing to meet demand during theupcoming traditional Lunar New Year. Among industries, manufacturing andprocessing sector expanded by 23.8 percent while other sectors postedyear-on-year growth such as mining, electronics, computers and … [Read more...] about Vietnamese economy shows positive signals in January
Vietnam’s economy classed as ‘mostly unfree’ by global survey
Vietnam's economic freedom currently stands well below global and regional averages, according to a new survey. The country has been ranked 141st on the 2018 Economic Freedom Index compiled by the Heritage Foundation, an American conservative public policy think tank based in Washington, D.C. Its overall score of 53.1 is up 0.7 point from last year, thanks to improvements in fiscal health, government integrity and judicial effectiveness. But trade freedom, property rights and labor freedom are still inhibited, according to the survey. Vietnam finished 35th out of 43 countries in Asia Pacific, below China and its smaller neighbors Cambodia and Laos. The U.S. foundation said that Vietnam could improve its economic environment by continuing to reform state-owned enterprises, reducing red tape, increasing transparency in the business and financial sectors, reducing bad debt in the banking sector and increasing recognition of private property rights. “Corruption and nepotism … [Read more...] about Vietnam’s economy classed as ‘mostly unfree’ by global survey