Dr. Craig Emerson, director of the Australian APEC Study Centre Vietnam’s success in containing COVID-19 with minimal economic fallout compared to other nations has improved its already-strong reputation for competent governance. The government has been liberalising Vietnam’s economy for decades and is now reaping the benefits of rapid growth. Vietnam has stood to gain from the recent US-China trade conflict with many companies relocating at least some of their production facilities there. Vietnam is also rapidly adopting digital technologies to deploy automation, smart manufacturing, and big data analytics. Competent economic management, consistent reforms, swift digital uptake, and effective COVID-19 containment make Vietnam a very attractive destination for trade and investment in 2021 and beyond. Economically, Vietnam is becoming a manufacturing powerhouse, particularly for electronics and apparel. It is also becoming a focal point for regional value chains with preferential access through free trade agreements (FTAs). It has taken up trade deal commitments and accepted assistance to develop the institutional and regulatory environment, infrastructure, and facilitation to attract investment. The country is also actively working on non-tariff barriers to trade including intellectual property protection, food safety regulations, restrictions on the internet and digital economy, and other governance issues to accelerate the absorption of investment. Vietnam needs to be considered in terms of its unique qualities and context. It is following its own development path in a new time, with different conditions, drivers, and realities. Comparisons can be made to Japan with its appreciation of tradition; to Singapore with its open trade policies and architecture; China’s southern Guangdong province in population scale and economic activity; and Indonesia in terms of benefits from a demographic dividend. Vietnam has a web of FTAs that make it a strategic …
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Developing value chains for agricultural products
Many effective models According to the Department of Agriculture and Rural Development of Bac Lieu Province, through the process of agricultural restructuring, many models of the linking value chains in the production, processing and consumption of agricultural products have been formed, bringing high economic efficiency. Currently, the province’s many companies and units of shrimp farming in the form of a closed value chain were recognised as agricultural enterprises applying high technology or certified by international standards of aquaculture such as GlobalGAP, BAP, ASC, and Organic. In addition, the province has steadily developed the rice industry following a large production model, joining the value chain, with rice output increased from 1.066 million tonnes in 2015 to 1.15 million tonnes by 2020. In Hai Duong, the agricultural sector has also been promoting the formation of value chains for agricultural products. Accordingly, the province has been focusing on building agricultural production zones for export processing, high-tech agricultural zones, and expanding production scale according to the GAP assessment process. Up to now, the whole province has 335 hectares of organic rice, 114 rice-growing models of "one zone, one variety, one time", with the minimum scale of 30 hectares per zone. Specialised vegetable growing areas with high efficiency continue to be maintained and expanded. Thanks to production in value chains in 2020, many agricultural products of the province will be exported through official channels to high quality markets, such as: lychee, longan exported to Japan and the US; carrots to the Republic of Korea (ROK), Japan, and Middle Eastern countries; cabbage to the ROK and Japan; pickled cucumbers to Russia and the ROK; and onion and garlic to Malaysia. Meanwhile, according to the Hung Yen Provincial Department of Agriculture and Rural Development, the province has successfully implemented the project "Building and developing models …
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Local firms keen on purchase of COVID-19 vaccines
Coteccons Construction Joint Stock Company and the Bank for Investment and Development of Vietnam have already registered to purchase tens of thousands of doses which would be distributed among their employees and family members, according to a reports thanhnien.vn. Dat Xanh Group, a real estate developer, has also announced plans to fund inoculations for over 7,300 employees working at 68 of its affiliates nationwide. Furthermore, Phu Nhuan Jewelry, one of the country’s leading gold and gem stone firms, has agreed to purchase COVID-19 vaccines for staff members. It has also raised a total of VND270 million in support of the free vaccination campaign for groups of underprivileged people in society, including the poor. Meanwhile, the Canada International School Vietnam has also decided to allocate a fund of VND3 billion for its immunisation campaign in an effort to vaccinate its teachers and staff, as well as the parents of students, providing the conditions allow. Despite this initial interest, the Vietnam Vaccine Joint Stock Company (VNVC), the only agency assigned by the Ministry of Health to receive, preserve, and distribute COVID-19 vaccines domestically, has said due to limited supplies, imported vaccines will be available for priority groups first. Specifically, frontline healthcare workers would be at the head of the queue. Vaccination inoculations will be regulated by the Government, according to a VNVC representative. Vietnam imported its first batch of more than 117,000 doses of the AstraZeneca vaccine on February 24. The Ministry of Health (MoH) subsequently published a list of 11 groups of people that will benefit from the vaccination campaign, with priority to be given to frontline healthcare workers, soldiers, border forces, policemen, and those on duty in isolation areas and quarantine facilities. The MoH is currently considering licensing two additional COVID-19 vaccines produced by Moderna of the United States and Generium of …
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