Vietnam Rubber Group to raise natural rubber output under its own brand A worker collects latex from a rubber tree (Illustrative photo: VNA) The rate is expected to hit 92 percent by 2022. The VRG has built a set of standards and introduced VRG-branded rubber products since 2018, bolstering consumption of its products along with Vietnam’s rubber brand in the international market. VRG-branded products reached 255,407 tonnes last year, accounting for 68 percent of the group's total output, from just 20,790 tonnes recorded in 2018. The VRG reported 21.17 trillion VND in revenue and 5.23 trillion VND in post-tax profit in 2020, year-on-year increases of 6.9 percent and 36.4 percent, respectively./. CPI in February highest in 8 years Vietnam’s consumer price index (CPI) in February was up 1.52 percent over the previous month and 0.7 percent year on year, according to the General Statistics Office (GSO). This is the highest February CPI growth recorded in the last eight years. However, the index in the first two months decreased 0.14 percent year-on-year. Compared to the previous month, an upturn was seen in the prices of ten out of 11 main groups of goods and services, with housing and construction materials taking the lead (4 percent). It was followed by food and catering services (1.61 percent); transport (1.55 percent); drinking and tobacco (0.9 percent); garment and textile, headwear and footwear (0.25 percent). The price of education services remained stable compared to the previous month. The GSO’s Price Statistics Department explained that the CPI in February saw a strong rise due to the higher demand for food and foodstuffs for the Lunar New Year (Tet) festival. The prices of medicine and medical supplies in January-February increased by 0.88 percent compared to the same period last year, the price of gas in the month climbed 3.05 percent year-on-year. There were a number of reasons for the decrease in CPI in the last …
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Learning spirit, confidence and creativity key to Việt Nam’s future success
Võ Trí Thành *Võ Trí Thành Việt Nam has outlined its next-decade of socio-development strategy, setting its sights on becoming a developed and upper-middle-income country with modern industry by 2030. However, as success in the past cannot guarantee future triumphs, what are the keys to Việt Nam’s success in the next period? We have talked about Việt Nam’s aspirations to become the next Asian economic dragon and the country has made great strides towards its goals. Amid a volatile world and unprecedented challenges arising from the pandemic, Việt Nam’s success in response to COVID-19 has been praised by international media. To ensure long-term growth, the country is also seeking solutions to key issues such as structural reforms, sustainable and inclusive development and innovation. After many phases of reforms, Việt Nam has basically achieved its goals such as ensuring macroeconomic stabilisation, expanding more opportunities for all economic subjects to develop through institutional reforms, building a socialist market-oriented economy and promoting international integration. Along with that, national capacity has been significantly improved which has been seen in strengthened institutional capacity, reflected in the more efficient State apparatus, enhanced capacity of enterprises through their greater competitiveness and sustainable development strategy and lastly the better-quality human resources. Despite the fast-changing world, lessons and experiences from past reforms have significant value for further success which can be seen in many Vietnamese success stories. When talking about the building of a socialist market-oriented economy, from a centrally planned economy in the early 1980s with little knowledge about the market economy, this has become the red thread throughout the country’s reform process. Việt Nam has learnt and built regulations and good practices for the market through working experience and co-operation with well-known …
[Read more...] about Learning spirit, confidence and creativity key to Việt Nam’s future success
Learning spirit, confidence and creativity key to Viet Nam’s future success
Vo Tri Thanh *Vo Tri Thanh Viet Nam has outlined its next-decade of socio-development strategy, setting its sights on becoming a developed and upper-middle-income country with modern industry by 2030. However, as success in the past cannot guarantee future triumphs, what are the keys to Viet Nam’s success in the next period? We have talked about Viet Nam’s aspirations to become the next Asian economic dragon and the country has made great strides towards its goals. Amid a volatile world and unprecedented challenges arising from the pandemic, Viet Nam’s success in response to COVID-19 has been praised by international media. To ensure long-term growth, the country is also seeking solutions to key issues such as structural reforms, sustainable and inclusive development and innovation. After many phases of reforms, Viet Nam has basically achieved its goals such as ensuring macroeconomic stabilisation, expanding more opportunities for all economic subjects to develop through institutional reforms, building a socialist market-oriented economy and promoting international integration. Along with that, national capacity has been significantly improved which has been seen in strengthened institutional capacity, reflected in the more efficient State apparatus, enhanced capacity of enterprises through their greater competitiveness and sustainable development strategy and lastly the better-quality human resources. Despite the fast-changing world, lessons and experiences from past reforms have significant value for further success which can be seen in many Vietnamese success stories. When talking about the building of a socialist market-oriented economy, from a centrally planned economy in the early 1980s with little knowledge about the market economy, this has become the red thread throughout the country’s reform process. Viet Nam has learnt and built regulations and good practices for the market through working experience and co-operation with well-known …
[Read more...] about Learning spirit, confidence and creativity key to Viet Nam’s future success
