Hanoi (VNA) – The acceleration of a digital economy is one of the Vietnamese government’s focuses to foster economic restructuring in combination with renewing the growth model and growth quality. Vietnam needs to make the best use of the Fourth Industrial Revolution to build a digital society and develop a digital economy, towards an industrialised country by 2045. Digital transformation will help hike Vietnam’s GDP by 1.1 percent each year. This requires Vietnam to conduct the process more strongly because digital transformation is the key to building a digital economy. According to the General Statistics Office, labour productivity in the Vietnamese economy was estimated at 102 million VND (4,512 USD) per workhand in 2018, up 5.93 percent from the previous year. In the 10-year period (from 2007-2016), Vietnam recorded a high productivity increase compared to other ASEAN nations with an annual average increase of over 4 percent. However, Vietnam's labour … [Read more...] about Digital transformation: The key to digital economy development
Fastest growing economy in d world
Vietnam has garnered international praise for its swift and effective response to the Covid-19 outbreak. Vietnam fought the pandemic early, closed its border to foreigners, and imposed social distancing measures on April 1. It lifted these measures on April 22, reopening its economy for business. A recent outbreak in Danang showed that Vietnam is not shy and imposed a lockdown on the city to get a grip on additional cases. … [Read more...] about How US investors’ positive sentiment towards Vietnam grows stronger?
Đỗ Anh Tuấn from VNUF said forest co-management means rights and responsibilities should be shared by involved parties. Therefore, it should be included in the forest management policies, especially in a decree guiding the implementation of Forestry Law, which takes effect at the beginning of next year. — VNS … [Read more...] about Saving the forests offers opportunities to grow
A way out In order to secure the set overspending for this year of VND368.3 trillion ($16 billion), the NA has assigned the government to make great efforts to “increase revenues and radically reduce spending”, and “seek more loans in order to offset state budget overspending in a manner suitable to the speed of central revenue collection and budget disbursement in 2020.” … [Read more...] about Budget rise to cushion country’s growth hopes
Mary Tarnowka, executive director of the American Chamber of Commerce in Ho Chi Minh City and Danang What are the prospects of investment from the United States into Vietnam under the next administration? Vietnam continues to be a very attractive destination for US investment for a number of reasons. It is a bit early to say what specific policies the new administration would undertake and how it would affect trade policy in Asia and the Indo-Pacific region, specifically with Vietnam. There will be a continuing interest in free and fair trade focusing on removing barriers to trade and investment. … [Read more...] about Continuing to provide advantages for US investors