Export market access

According to DW, the Southeast Asian country will hold the 13th National Party Congress from January 25 to February 2 to select new leaders of the Communist Party of Vietnam and outline policies for the next five years, of which COVID-19, trade and climate change will be in top priorities. Regarding the country’s challenges, Carl Thayer, a political scientist emeritus at the Australian University of New South Wales, said Vietnam’s energy security is the most pressing problem for the next five years. Besides, the country needs to resolve numerous longstanding tariff and trade issues with the US - the largest export market of Vietnam. He also expressed his optimism that Vietnam will reach agreement with the US on many issues, and the country is likely to resume double-digit economic growth within the next five years, particularly if it makes clever use of the signed new-generation free trade pacts. Meanwhile, Nguyen Phuong Linh, deputy director of the consulting firm … [Read more...] about German media commends Vietnam’s COVID-19 prevention, economic development

Regarding the credit structure, Nguyen Quoc Hung, director of the SBV’s Credit Department, said credit for agricultural production expanded 0.3% compared to end-2019; followed by that for exports (4.94%  versus 10% in the first six-month period of 2019); technology sector(2.92%); supporting industries (2.27%); and small and medium enterprises (-0.7%). … [Read more...] about Vietnam credit growth slows to 2.13% in 6-month period

Deputy Minister of Planning and Investment Tran Duy Dong said 2020 was a tough year for many countries due to the impact of Covid-19. All economic, political and investment attraction activities faced difficulties. Vietnam has striven to develop the economy and combat the pandemic concurrently to make it attractive to investors. … [Read more...] about Indian firms on lookout for long-term investments in Vietnam