Vietnam economy growth

Until now, all Parties to the Paris Agreement have submitted their NDCs to the Secretariat of the United Nations Framework Convention on Climate Change (UNFCCC). However, each country’s NDC is very different, communicating contributions respective to national circumstances and also providing conditions to fulfil its contributions. The current NDCs, if fully implemented, would lead to the average global temperature increase of about 3oC, much higher than the target stated in the Paris Agreement which is to keep a global temperature rise below 2oC above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5oC. To narrow the gap in climate change response efforts, the UNFCCC Secretariat has asked countries to review and update their NDCs, ensuring that their NDCs reflect their highest ambitions. The review and update of NDC must be completed in 2020 and continue to be undertook every five years to submit to the UNFCCC Secretariat. … [Read more...] about Vietnam raises contributions to global effort to respond to climate change

Hanoi (VNA) – The Philippines has plunged into a technical recession as the economy dropped 16.5 percent in the second quarter of 2020, the lowest recorded quarterly growth since 1981. In an online meeting on August 6, the Philippine Statistics Authority (PSA) said the economy contracted by 16.5 percent during the April to June period, following the downward-revised -0.7 percent in the first quarter of the year, and 5.4 percent in the second quarter of 2019. According to the PSA, in the second quarter, both industry and services declined 22.9 percent and 15.8 percent, respectively. The main contributors to the decline were manufacturing, 21.3 percent; construction, 33.5 percent; and transportation and storage, 59.2 percent. Among the major economic sectors, agriculture, forestry, and fishing increased with 1.6 percent growth. According to experts, the economic slowdown was partly because of the April - May coronavirus lockdown. In mid-March, the Philippines imposed a … [Read more...] about Philippines’ economy plunges into technical recession

“25 years marked a historic milestone in the diplomatic relation between the two countries, which has been strengthened by our relation in trades, investment and strategic cooperation. We highly appreciate the efforts of businesses like Facebook that have contributed to reaffirming and actualising the long-term commitment of the United States in general and US businesses in particular to Việt Nam through the contribution and investment in socio-economic development and long-term prosperity,” said Chief Executive of the American Chamber of Commerce (AmCham Hanoi) Adam Sitkoff. … [Read more...] about Facebook and MPI launch “Vitality of Vietnam” programme

But experts have said the lower policy rates have not had a major impact on the economy since businesses have trouble accessing bank credit not due to high interest rates but because they could not prove their repayment capability amid the uncertainties caused by the pandemic. … [Read more...] about Central bank cuts rates for 3rd time

Filip said Vietnam has achieved success in Covid-19 prevention and control and had been free of Covid-19 community transmission and deaths for many weeks. As a result, the country has begun to ease emergency measures. He also said that with more than 96 million people and a long border with China and without advanced technologies like the Republic of Korea, Vietnam had nonetheless quickly responded to the pandemic by implementing a series of prompt and drastic measures. … [Read more...] about Vietnam’s pandemic response predicts strong bounce back