APEC carried a lot of weight this year for Vietnam and Da Nang. Vietnam’s wish to wrap up the Trans Pacific Partnership (TPP) trade deal although Canada at some point wanted to back out for reasons unknown was the big item. The idea was the deal would act as a ‘counterweight’ to the immense power of Chinese economic influence. With the country hoping to expand export markets further, it would have been an unexpected blow had Canada really left the negotiation table. … [Read more...] about APEC and Damrey in Vietnam: Whew! It’s over!
Overall, key economic indicators remain healthy and give rise to optimism. The National Centre for Socio-Economic Information and Forecast has constructed two growth scenarios for the 2021-2025 period. If the country succeeds in taking advantage of Industry 4.0, annual GDP growth can be as high as 7.5 per cent, implying that Vietnam will achieve the goal of becoming an industrial nation in 2030 and avoid the middle-income trap. In a less optimistic scenario, GDP growth is still impressive at 7 per cent per year, with labour productivity growth being 6.3 per cent annually. … [Read more...] about New decade of growth built on diligent and smart work
Vietnam will continue to strictly implement the Resolution on Party Building and Rectification to prevent and push back political, moral, and lifestyle degradation and signs on self-evolution and self-transformation, while upholding the campaign to study and follow Ho Chi Minh's ideology, morality, and lifestyle. … [Read more...] about Welcoming a new spring with confidence
Chairman of the Vietnam Textile and Apparel Association Vu Duc Giang How did the Vietnamese textile and garment industry fare in 2019 and what are some of the new targets? It was considered a particularly difficult year for the industry, with many unpredictable market fluctuations and an ongoing trade war. Vietnam’s textile and garment export turnover did not reach $40 billion as expected, but it still maintained a good growth rate at 7.5 per cent on-year. Currently, Vietnam’s textile and apparel industry is ranked third in the world in terms of exports, following China and Bangladesh, and ranks the largest in the ASEAN. … [Read more...] about Textile sector set for success
Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has asked ministries, agencies and localities to stay vigilant to prevent the spread of the novel coronavirus (nCoV). The virus has been reported in 30 out of 31 cities and provinces of China, and spread to 18 countries and territories worldwide. No vaccine or specific treatment for 2019-nCoV infection is available. The World Health Organisation (WHO) has assessed the public health risk of this virus to be very high in China, and high at the regional and global levels. In Vietnam, two Chinese nationals have tested positive for nCoV and the country is facing high risks of being affected by this dangerous and rapidly spreading acute respiratory disease since it is a popular destination of Chinese tourists and shares a long borderline with China. In Directive No. 05/CT-TTg dated January 28, PM Phuc said the prevention and control of the virus must be regarded as the fight against an enemy, and … [Read more...] about PM calls for joint efforts against nCoV