Innovation, one key instrument for development in the digital age, needs a further boost. Innovation-related statistics show that Vietnam is still in a catching-up phase but considerable progress has been made in recent years. Research and development intensity in the country is still low at 0.44 per cent of GDP. This ratio is below those of the country’s developing counterparts (for example, Malaysia a 1.3 per cent and Thailand at 0.78 per cent), and much lower than that of developed countries. … [Read more...] about New decade of growth built on diligent and smart work
Eu us trade deal
For Da Nang, hosting APEC added more credibility to the city’s ability to hold major international events and its reputation as a competent and efficiently run alternative to Hanoi and Ho Chi Minh City for economic and social events. For the most part, I was impressed. The airport coped well enough, there were no major embarrassments and the overall atmosphere was positive. … [Read more...] about APEC and Damrey in Vietnam: Whew! It’s over!
The nation also gained high growth in pepper exports to some markets including Thailand, Russia and Turkey. The exports surged by 89.4 per cent in volume and 46 per cent in value to Turkey, 40.6 per cent in volume and 10.3 per cent in value to Russia, and 34.8 per cent in volume and 0.6 per cent in value to Thailand. … [Read more...] about Pepper price to remain low this year
The biggest challenge in the industry is a lack of input materials when until now, we still rely heavily on raw materials from non-CPTPP member countries. Meanwhile, the development planning of the industry and material areas are also lacking and incomplete. In the long term, businesses have to step up their games by localising input materials, but it needs a hands-on approach from the government. The supply chain will ensure Vietnam takes advantage of FTAs that it signed and reaches sustainable development goals. … [Read more...] about Textile sector set for success
The leader further said there must be five more agricultural products that will earn US$1 billion from export by 2025, thus raising the total export value to US$50 billion, putting Vietnam at the top in ASEAN and the 10th globally. Reviewing the 2019 achievements, he hailed the sector for removing difficulties in the China, the US, Japan and other markets, as well as effectively fighting African swine fever. Minister of Industry and Trade Tran Tuan Anh lauded the ministries of industry and trade, and agriculture and rural development for bringing many Vietnamese farm produce to the world. He asked the two ministries to fine-tune policies to attract more investment, cut administrative procedures, and increase the supply of information for businesses, cooperatives and people. Minister of Agriculture and Rural Development Nguyen Xuan Cuong said the sector will continue restructuring agriculture in combination with renewing the growth model and building new-style rural areas. He … [Read more...] about Agriculture sector must grow by 3% next year: PM