How does tourism help the economy

Moreover, economic policy that follows the fortunes of these firms would benefit not just women but all economic participants. Most obviously, monetary and fiscal policy would have an incentive to look past the headline numbers and consider how the larger statistics on GDP and unemployment are filtering down to the less advantaged. This will create a bias toward greater support during a downturn. Focusing on the health of women-owned businesses would also improve economic resilience. Women are more likely to be in economically vulnerable jobs than men, and with poorer access to finance, and businesses owned by them are at greater risk of bankruptcy because of temporary liquidity issues rather than more serious solvency issues. … [Read more...] about Is Vietnam’s economy recovering from COVID-19? Ask female entrepreneurs

Vientiane (VNA) - The Lao government has set a revenue target of over 3.8 billion USD for the tourism industry in the next five years, with about 15 million tourists visiting the Southeast Asian country after the COVID-19 pandemic is under control. According to its new socio-economic development plan report, the Lao government said if the country does not have enough COVID-19 vaccines, the target will be reduced to 1.5 billion USD in revenue, and around 6 million in arrivals. The Vietnam News Agency (VNA)'s correspondent in Vientiane quoted the report, saying that the number of visitors to the country increased to 4.79 million in 2019 from 4.23 million in 2016. The figure was estimated to reach only 980,000 in 2020 due to travel restrictions to contain the spread of COVID-19. As part of efforts to revive the tourism sector, the Lao government launched an initiative to stimulate domestic tourism demand. The tourism industry will play a more important role in the Lao economy in the … [Read more...] about Laos targets 3.8 billion USD from tourism revenue in 2021

In the past months, VBSP has worked out numerous measures on credit expansion serving production and business while simultaneously pushing back black credit, such as raising the loan limit to VND100 million ($4,350) per household without collateral or raising loan durations to at most 120 months for needy, near-poor households, and those who have just freshly escaped from poverty. The bank is also doing a good job of managing credit quality and improving policy communication activities. … [Read more...] about Policy credit helps push back black credit

However, Vietnam disbursed VND6.312 trillion in foreign loans in the first 11 months of 2020, accounting for only 34.65 percent of the yearly target set early in 2020 and 45.51 percent of the adjusted target (VND4.346 trillion). Deputy Minister of Finance Tran Xuan Ha said more than 50 percent of foreign loans need to be disbursed within the final two months of 2020 to attain the target. … [Read more...] about Foreign aid disbursement falls way short of 2020 target

The country’s rice export is likely to grow further in the first quarter of this year since the ongoing COVID-19 pandemic has led to increasing food demand in a number of Vietnam’s major markets in Southeast Asia and Africa which have placed more orders for Vietnamese rice, according to Nguyen Quynh Nga from the Vietnam Institute of Industrial and Trade Policy (VIOIT). … [Read more...] about BUSINESS NEWS JANUARY 19