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Digitalization is seen as a major instrument for Vietnam to promote an independent and self-reliant economy. Businesses and people should be the main beneficiaries and the driving force for the national digital transformation, so the Government encourages them to take an active part in this process. Prime Minister Pham Minh Chinh at the meeting. Source: VGP Prime Minister Pham Minh Chinh stressed the goal during a meeting of the National Committee on Digitalization today [August 8]. According to Chinh, efforts from Government agencies and localities have been translated into strong progress in Vietnam’s digitalization and contributed to the socio-economic recovery. The prime minister, however, pointed to the incompleted legal environment as the reason hampering the digitalization process, while a lack of investment in digital infrastructure, including the mobile and fixed broadband internet speeds behind the world average, means it has failed to create … [Read more...] about People and businesses urged to take part in the digitalization: PM

In long term, transforming the higher education system will be key to boosting Vietnam’s productivity and helping achieve its goal of becoming a high-income country by 2045. Vietnam’s GDP growth is forecast to surge from an estimated 2.6% in 2021 to 7.5% in 2022, with backing from resilient manufacturing and a robust rebound in services. Overview of the event. Photo: Nguyen Tung Country Director for the World Bank in Vietnam Carolyn Turk revealed the figures at the launch of its bi-annual economic outlook for Vietnam titled “Taking Stock: Educate to Grow” today [August 8]. According to Turk, the global economy has been experiencing a series of very large and negative shocks, including ongoing Covid-19-related disruptions and supply shocks associated with the Russia-Ukraine conflict. In this context, Vietnam’s economy has shown “relative resilience and staged a strong rebound after last year’s Covid-19 induced slowdown,” Turk said. Vietnam’s economic … [Read more...] about Vietnam’s GDP growth set to expand by 7.5% in 2022: World Bank

Inside a clean clam processing line of Lenger Seafoods Vietnam. The company exports products to markets in the EU, the UK, Japan, the US, and South Korea. — Photo courtesy of Lenger Seafoods Vietnam To provide a more favourable playground for enterprises to strengthen and access international markets, Viet Nam is on a path to boost institutional improvement. And it is believed that the United Kingdom-Vietnam Free Trade Agreement (UKVFTA) is accelerating the process, said experts. As Viet Nam has signed many new free trade agreements (FTAs) with countries or regions that require more stringent standards not only on quality but also on production processes, it is crucial for local enterprises to quickly adapt to new rules. Therefore, the Government has to make changes to relevant policies to support them. The reform is building a favourable business environment, reducing transaction expenses for enterprises, especially small and medium enterprises, and attracting quality … [Read more...] about UKVFTA to accelerate Viet Nam’s institutional reform