The incomes of these communes mainly come from agricultural production while the application of high technology in agricultural production remains low and vocational training is limited. As a result, residents in these communes, particularly ethnic minority areas, face difficulties. … [Read more...] about Comprehensive measures needed for new-style rural areas
How economic development is measured
As we move into the year’s second quarter, the GSO has put forth three scenarios for economic growth in the year ahead. The first scenario sees the epidemic lasting until the end of the second quarter, causing GDP growth for the whole year to grow at over 5%. The second scenario involves the epidemic dragging out until the end of the third quarter, in which case GDP growth is forecast to stand at over 5%, but lower than the level seen in the first scenario. In the third scenario, GDP growth for the year is expected to reach 6.8% as set out by the National Assembly. … [Read more...] about Solutions for Vietnam to maintain its current economic growth
Simultaneously, the State Bank of Vietnam has issued a decision which adjusts interest rates, with reductions placed on refinancing interest rate from 6% to 5% annually, in addition to dropping rediscount interest rates from 4% to 3.5% per year. This comes after the Ministry of Finance recently proposed increasing the fiscal support package for deferral tax payments to VND80,200 billion. … [Read more...] about Solutions for Vietnam to maintain its economic growth
We could, like after 1918, get weak or weaker international organisations, the rise of nationalism, protectionism and economic depression. Or, as followed 1945, more cooperation and internationalism, like Bretton Woods, the Marshall Plan, the UN and the General Agreement on Tariffs and Trade. … [Read more...] about Will coronavirus reverse globalisation?
Technology is filling up empty spaces, Mr. Lee from GS Shop commented, creating more advanced industries and growing them rapidly. People in Vietnam can open their first bank account and take out their first loan via a mobile bank, not a branch. P2P lending and e-wallet services also make financial services available without a bank. … [Read more...] about Vietnam’s IT and finance catching South Korean attention