Ncov

Vietnam has done a great work in screening, preventing and quarantining Covid-19 suspected people. Vietnam is at high risk of Covid-19 outbreak, but the country has kept it under control until now, Deputy Prime Minister Vu Duc Dam said at a meeting on February 12. Deputy Prime Minister Vu Duc Dam speaks at the meeting. Photo: Kinhtedothi.vn At the meeting, Deputy Prime Minister Vu Duc Dam and other participants agreed that the epidemic situation remains complicated, but the number of infections in Vietnam is limited, and their treatment has yielded positive results. Vietnam has done a great job in screening and quarantining people suspected of infection; disinfecting high-risk areas and preventing concentration of people, stressed the deputy PM. More doctors will be sent to Vinh Phuc province, the locality with the most infected people. The central government will also support the province by providing medical equipment to help the locality stamp out the …

[Read more...] about Covid-19 epidemic in Vietnam is under control

The US Department of Health and Human Services stated that Vietnam has taken comprehensive, drastic and thorough measures to deal with Covid-19. The US Department of Health and Human Services has praised Vietnam's medical capacity and close cooperation in coping with the Covid-19 epidemic, VnExpress reported. Medical staff in protective suit at a field hospital that Ho Chi Minh City set up in its outlying district of Cu Chi for quarantining those returning from China. Photo: Quynh Tran Vietnam has responded well to the Covid-19 epidemic from the very outset, preventing its spread, Director for Asia and the Pacific, Office of Global Affairs (OGA), the US Department of Health and Human Services (HHS) Erika Elvander said in a recent meeting at the Vietnamese embassy in the US, believing that Vietnam will effectively combat Covid-19 disease. The US Department of Health and Human Services stated that Vietnam has taken comprehensive, drastic and thorough measures …

[Read more...] about US lauds Vietnam’s response to Covid-19

Such goods would be treated the same as humanitarian or non-refundable aid. The Vietnamese Government has decided to waive import tariffs on goods and products in support of the Covid-19 fight. Medical equipment imported to support Covid-19 response would be exempted from import tariff. Photo: hcmcpv.org.vn The move was revealed in resolution No.106/NQ-CP on tax policies for imported products to aid the ongoing efforts against the pandemic. The resolution noted goods and products imported by individuals or organizations to support the Government, the Ministry of Health (MoH), provinces/cities, or local Vietnam Fatherland Front for such purpose would be entitled to the treatment granted to imported humanitarian or non-refundable aid. The Government assigned the MoH and local authorities to ensure transparency and publicity in receiving these goods and products to avoid potential acts of policy abuse. Following requests from the MoH and provinces/cities, …

[Read more...] about Vietnamese Gov’t waives tariff for imported products in Covid-19 fight

ADB's president commended the Vietnamese government on its timely and effective actions to combat the pandemic. The Asian Development Bank (ADB) is ready to provide Vietnam with timely and flexible support for the government’s response to the Covid-19 pandemic, according to ADB President Masatsugu Asakawa. Illustrative photo. "The ADB stands ready to provide financial assistance and policy advice to help the Vietnamese government contain the spread of Covid-19,” said Asakawa. “We will consider all options, including quick-disbursing budget support, policy-based lending, and expedited disbursement of existing loans, to ensure any support package can be approved quickly and disbursed in a timely manner.” Asakawa discussed options for ADB support in detail with Vietnam’s Minister of Finance Dinh Tien Dung on March 20 and Governor of the State Bank of Vietnam Le Minh Hung today. Asakawa commended the Vietnamese government on its timely and effective actions …

[Read more...] about ADB president offers support for Vietnam’s Covid-19 response

A total of 15 securities services are set to become free or cheaper to support the stock market. The Ministry of Finance on March 18 enacted Circular No.144 making six securities services free of charge and lowering the fees for nine others in a move to help stock investors overcome impacts of the Covid-19 pandemic. Illustrative photo. The to-be-free services include registration for listing; securities registration; securities borrowing and lending via the Vietnam Securities Depository (VDS); membership registration for derivatives transaction; registration for clearing participant; and first time online connection. Meanwhile, nine other securities services would be subject to a reduction from 10 – 50% of the current fees, including a 10% reduction for transaction fees on the stock and derivatives market, securities depository; 15 – 20% reduction for position management fee, management of margin assets on derivatives market; 30 – 50% reduction for …

[Read more...] about Vietnam finance ministry waives fees for 6 securities services

In the two-month period, over 2,600 household businesses in Hanoi were forced to shut down, and 6,400 others suspended operation, an increase of 22% and 37.8% year-on-year, respectively. As enterprises in Hanoi are bearing brunt of the Covid-19 pandemic, Hanoi’s Department of Taxation has been providing supporting policies to help the business community cope with the situation, including waiving, lowering and extending tax payment. Announcement outside a business establishment Beneficiaries entitled to these supports are businesses, organizations, individuals, and household businesses in the fields of agro-forestry-fishery, food processing, textile, electronics and computers production, automobile, transportation, accommodation, tourism, catering services, among others. The move is in line with Prime Minister Nguyen Xuan Phuc’s directive No.11 issued last month detailing measures to support the business community to overcome the Covid-19 pandemic. The …

[Read more...] about Hanoi waives taxes for enterprises hurt by Covid-19

Covid-19 has severely hampered the Vietnamese manufacturing sector in February, both on the demand and supply side. The headline Nikkei Vietnam Manufacturing Purchasing Managers’ Index (PMI) fell below the 50 no-change mark in February, signaling a deterioration in business conditions and representing the first decline in over four years, according to Nikkei and IHS Markit. A reading below the 50 neutral mark indicates no change from the previous month, while a reading below 50 indicates contractions and above 50 points to an expansion. A key factor behind the deterioration in business conditions was a marked contraction in factory production during February. Panelists often noted that Covid-19 had caused disruption to output, which decreased at the quickest rate since June 2013. The virus also had a negative impact on demand in February. New orders fell for the first time since November 2015, which was partially driven by a reduction in new export sales. …

[Read more...] about Vietnam suffers first decline in 4 years in manufacturing activiy on Covid-19

In the first five months of 2020, industrial parks and economic zones drew 390 foreign projects worth US$4.3 billion. Vietnam's industrial parks (IPs) and economic zones (EZs) have so far attracted 9,850 foreign-invested projects with total registered capital of nearly US$194 billion, 70% of which has been disbursed, according to the Ministry of Planning and Investment (MPI). Foreign investors pour US$194 billion into Vietnam's industrial and economic zones. Meanwhile, IPs and EZs have received VND2,300 trillion (US$99 billion) in terms of newly-registered capital and additional capital poured into 9,650 projects carried out by Vietnamese investors, stated a MPI’s report, adding 45% of the said amount has been disbursed. Due to the Covid-19 pandemic, revenues of enterprises operating in IPs and EZs suffered an 8% decline year-on-year in the January – May period to US$81 billion, while their exports rose 4% to US$58 billion. Additionally, over 3.82 million …

[Read more...] about Foreign investors pour US$194 billion into Vietnam’s industrial and economic zones

Growth could be aided by a revival of domestic demand, an acceleration in the disbursement of public investment funds, an expansion to new export markets, and the expected global economic recovery. Vietnam’s economic growth forecast this year is revised down to 3.8% from the previous estimated 6.7% in April due to the prolonged Covid-19 outbreak but would rebound strongly to 6.5% in 2022. ADB Country Director for Vietnam Andrew Jeffries at the online meeting. Photo: Nguyen Tung ADB Country Director for Vietnam Andrew Jeffries gave the statement at the online launch of the latest report Asian Development Outlook (ADO) 2021 Update held today [September 22]. According to Andrew, growth picked up in the first half of 2021, largely because of higher trade volumes, but slowed down in the second half of the year as the fourth wave of the pandemic took a toll on business and the labor market. “The prolonged Covid-19 pandemic and extended lockdowns have …

[Read more...] about Vietnam economy set to rebound in 2022 despite short-term setbacks: ADB