The conclusion was reached by economists at an international workshop on promoting the coordination mechanism for the development of KERs in Vietnam which was held in Hanoi on September 24 by the Central Institute for Economic Management (CIEM) in collaboration with the "Australia Supports Economic Reform in Vietnam" (Aus4Reform) programme and NBN Media. The event is held under the framework of Aus4Reform, sponsored by the Australian Department of Foreign Affairs and Trade, which assists the Government of Vietnam in achieving its objectives of improving the business investment climate towards high labour productivity and increased quality and competitiveness of the economy aimed at fast and sustainable development. The programme is worth US$6.5 million and will be deployed from 2017-2021. Limited connectivity among economic zones Presenting the research report on the coordination mechanism for the development of KERs in Vietnam carried out by CIEM, Tran Trung Hieu, Deputy Head of … [Read more...] about Coordination mechanism needed to facilitate development of key economic regions: economists
Key economic indicators
Cà Mau Cape tourism site to become key economic area in the province in 2025
Viet Nam News HÀ NỘI — The country’s southernmost province is hoping its famous Cà Mau Cape tourism area will become the largest key economic area in the province by 2025,baochinhphu.vn online newspaper reported. It is expected to be one of the largest eco-tourism centres in the country, allowing visitors to experiencing lush mangrove forests. Local officials hope it can become a popular destination on Mekong Delta tours. By 2030, Cà Mau Cape tourism is expected to meet national tourism criteria and be recognised as a National Tourism Site, according to the Prime Minister-approved master plan for the development of Cà Mau Cape National Tourism Site towards 2030. Cà Mau Cape national tourism site is mainly located at Mũi Village in Đất Mũi Commune of Ngọc Hiển District, about 120km from Cà Mau City. It also extends over a small part of Năm Căn District. High-end tourists To … [Read more...] about Cà Mau Cape tourism site to become key economic area in the province in 2025
Three key factors to increasing Vietnam’s labour productivity
Three key factors contribute to increasing Vietnam’s labour productivity This was the opinion of numerous participants joining the CEO Forum 2018 themed “Workplace productivity—A key indicator of economic development” organised on April 13 in Hanoi. Vietnam’s labour productivity currently stands behind almost all countries in Southeast Asia, including Laos. In 2016, the average productivity of a Vietnamese employee reached $9,894 per person, equalling 7 per cent of Singapore, 17.6 per cent of Malaysia, and 36.5 per cent of Thailand. In 2017, the figure was $4,166 per person. According to Nguyen Bich Lam, general director of the General Statistics Office of Vietnam, the major reason for the country’s low labour productivity compared to Southeast Asian countries is because Vietnam started from lower and has been going up from an agricultural country as well as backward economic structure. However, the skill, acumen, as well as the intelligence of … [Read more...] about Three key factors to increasing Vietnam’s labour productivity
RoK’s economic recovery pace maintained by robust exports
The economy of the Republic of Korea (RoK) is maintaining its current recovery pace on the back of brisk exports and increased private spending investment (Source: english.yonhapnews.co.kr) Seoul (VNA) – The economy of the Republic of Korea (RoK) is maintaining its current recovery pace on the back of brisk exports and increased private spending investment, according to a monthly report of the country’s Strategy and Finance Ministry on April 13. The report, called the “Green Book”, is based on the latest economic indicators of such key factors as output, exports, consumption and corporate investment. Industrial output, consumption and investment are maintaining their extension backed by robust exports, and the current recovery pace is also continuing, according to the report. However, a weaker job market, interest rate hikes in the US and ongoing trade issues are likely to put pressure on Asia’s fourth-largest economy. Exports of the RoK have been … [Read more...] about RoK’s economic recovery pace maintained by robust exports
ASEAN targets sustainable economic growth, financial stability
Speaking at the AFMM-22, Vietnamese Deputy Minister of Finance Tran Xuan Ha described modern and effective infrastructure development as one of the important pillars for Vietnam’s socio-economic development, which is also a common concern of regional countries. Thereby, the regional nations need to build a common plan to devise proper financial solutions, he said.The finance ministers lauded ASEAN’s progress in banking integration, insurance, capital market and wished that member states will sign the eighth Package of Commitments later this year.The meeting took note of efforts to develop the regional capital market by strengthening capacity and carrying out initiatives such as amending the ASEAN Collective Investment Scheme, issuing ASEAN Green Bond standards, piloting the connectivity of securities markets, opening a portal on listed companies in ASEAN and rotating capital market experts among regional countries.Vietnamese Deputy Minister of Finance Tran Xuan Ha (Source: … [Read more...] about ASEAN targets sustainable economic growth, financial stability