Policies to make

Hanoi (VNA) – The acceleration of a digital economy is one of the Vietnamese government’s focuses to foster economic restructuring in combination with renewing the growth model and growth quality. Vietnam needs to make the best use of the Fourth Industrial Revolution to build a digital society and develop a digital economy, towards an industrialised country by 2045. Digital transformation will help hike Vietnam’s GDP by 1.1 percent each year. This requires Vietnam to conduct the process more strongly because digital transformation is the key to building a digital economy. According to the General Statistics Office, labour productivity in the Vietnamese economy was estimated at 102 million VND (4,512 USD) per workhand in 2018, up 5.93 percent from the previous year. In the 10-year period (from 2007-2016), Vietnam recorded a high productivity increase compared to other ASEAN nations with an annual average increase of over 4 percent. However, Vietnam's labour … [Read more...] about Digital transformation: The key to digital economy development

He asked the Ministry of Industry and Trade to listen to the proposals and recommendations of businesses and co-ordinate with relevant ministries and agencies to facilitate businesses in policies, mechanisms and resources so they can be more involved in the process of building and promoting the image of Viet Nam. … [Read more...] about 124 firms honoured as national brands

According to the World Bank, the negative fiscal impact associated with the COVID-19 crisis should increase in the next few months in Vietnam due to several trends. For example, on the revenue side, the decline in tax collection was generalised to almost all taxes and accelerated in the second quarter, when the government collected only 76 per cent of the amount recorded during the same period a year ago. … [Read more...] about Budget rise to cushion country’s growth hopes

In the first ten months of this year, the production value of technology products in SHTP is estimated at more than $16.2 billion, up 19.82 percent over the same period. In which, export value exceeded $15.4 billion, up nearly 24 percent, and import value surpassed $14 billion, up nearly 27 percent. Up to now, the production value of high-tech products of SHTP is estimated at roughly $81 billion. Of which, exports were nearly $77 billion, and imports more than $70 billion. Currently, the SHTP Management Board is focusing on carrying out the remaining projects and striving to basically complete the infrastructure of the entire 913 hectares of the SHTP as planned by the end of this year. Over the past months, enterprises in SHTP have continued to both develop the economy, prevent the pandemic, and actively rearrange their employees, ensuring that their employees are not affected too much by the Covid-19 pandemic. Enterprises in the SHTP provide jobs for 42,246 employees, a decrease of … [Read more...] about HCMC develops SHTP associated with Thu Duc City

Deputy PM Minh shared his expectations that the E10-I5 meeting would enhance understanding, sharing his views on his assessment of the international situation and experience in preparation and participation in UNSC activities of non-permanent member countries. This is along with the appropriate directions and measures which have been devised to promote the common priorities of the UNSC moving forward. … [Read more...] about Vietnam hosts virtual UNSC meeting of E10-I5 members