Vietnam covid 19 impact

Tran Ban Hung This is not a new development for us. We have been rescuing agricultural products almost every year. Market glut is a normal situation in the country as farmers nationwide do not have a long-term production plan. However, I felt a little heartbroken when driving along the streets of Hanoi last week and seeing stalls selling farm produce at very low prices, like VND5,000 ($0.22) per kilo of carrot and VND3,500 per cauliflower, with notices asking people to "rescue" Hai Duong products. The director of the Hai Duong Department of Industry and Trade, Pham Thanh Hai, said there were thousands of hectares of onion, carrot, different types of vegetables, fish, chicken and eggs still in stock whose consumption "depended completely on neighboring localities." "All we can do now is to call the directors of industry-trade departments (in the neighboring localities) and ask them to send a message to their higher authorities for accepting products from Hai Duong," Hai said. Hai Duong is where one of the first cases of the ongoing Covid-19 outbreak was detected in late January. Since then, infections have risen to 681 in the northern province. A social distancing campaign began throughout the province on February 16. It was decided Monday that it would end on March 3. Amidst the Lunar New Year atmosphere, the most important festival in the country, many families in Hai Duong had to be placed under a lockdown, which meant their farm produce getting stuck because of "difficulties" in transportation. The thought strikes me: We have been fighting against the pandemic, yes, but in a way that we have also fought against the livelihoods of our people. People in central city of Da Nang "rescue" farm produce of Hai Duong in February 2021. Photo by VnExpress/Nguyen Dong. Instead of letting each locality have its own policies to prevent and fight the pandemic, why don’t ministries and related agencies come up with an overall plan to …

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The Hanoitimes - With the Covid-19 impacts still looming on local economy, domestic car prices have gone down but remained nearly double the prices of vehicles sold in Thailand and Indonesia, mainly due to high fees and taxes for locally made cars. Rising domestic production capacity and existing government’s support policies to cut fees and taxes for locally made cars are expected to be major factors dragging down car prices in Vietnam in the coming time. Car production at Hyundai Thanh Cong manufacturing plant. Photo: Hoang Giang A representative from the Truong Hai Auto Corporation (Thaco), one of Vietnam’s leading car manufacturers, expected the country’s participation in free trade agreements (FTAs) with major partners, including the EU, Japan, UK and South Korea, would help further abate costs for importing car parts with import duty at 0%. With the Covid-19 impacts still looming on local economy, domestic car prices have gone down but remain nearly double the prices of vehicles sold in Thailand and Indonesia, mainly due to high fees and taxes for locally made cars. “High product quality and low base cost are essential for Vietnam cars to compete with their foreign peers,” said auto expert Nguyen Minh Dong, adding only a bigger market size could attract more investors to come in to produce cars in the country and enhance localization rate. Director of Hien Toyota noted while car manufacturers can streamline operation to drive down the production cost, taxes and fees are dependent on state policies. “Lowering taxes and fees for cars will no doubt reduce prices and bring more benefits for customers,” she said. Booming market demand A recent report from the SSI Securities Corporation suggested Vietnam’s income per capita is on the rise and set to grow at an average of 8-10% in the next decade. “Compared to regional countries, the current income per capita is fast approaching to a point of bursting demand for cars,” …

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The Hanoitimes - It is vital for Vietnam to further boost the development of private sector and public investment funds, in turn contributing to economic growth and creating the foundation for long-term development. Vietnam would speed up socio-economic recovery to realize the growth target of 6.5% for this year. Prime Minister Nguyen Xuan Phuc at the meeting. Photo: Quang Hieu Prime Minister Nguyen Xuan Phuc stressed the view at a monthly government meeting on March 2, which were attended by government leaders and representatives of ministries and sectors. Among measures to boost growth, the PM stressed the importance of enhancing greater efficiency in global integration to boost exports and attract high quality   foreign direct investment (FDI). “The current situation presents huge opportunity for Vietnam to attract investment capital,” stressed Phuc, adding a favorable investment environment is a must to keep capital inflow from growing. In addition to the role of state-owned corporations, Phuc said it is vital for Vietnam to further boost the development of private sector and public investment funds, in turn contributing to economic growth and creating the foundation for long-term development. According to Phuc, disbursement of public funds is a major mission, for which the Government Office is tasked with inspecting efficiency in disbursing public funds and ODA-funded projects. Phuc stressed the importance of reviewing current supporting programs and proposing new ones to assist businesses and people affected by the pandemic. “Nurturing economic growth drivers and creating long-term revenue sources are the objective for monetary and fiscal policies,” said Phuc. The PM requested major economic hubs to play a greater role in aiding economic growth, especially Hanoi, Ho Chi Minh City, Vung Tau, Danang, and Can Tho. For economic sectors that are struggling with the Covid-19 impacts, including those in fields of …

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