In the economic growth of 1.81 percent in the first six months of Vietnam’s economy, the agro-forestry-fisheries sector augmented 1.19 percent, contributing 11.89 percent to the general growth; industrial and construction sector advanced 2.98 percent, contributing 73.14 percent; service sector shot up 0.57 percent, contributing 14.97 percent. The main motivation for the economic growth in the first six months of this year was industrial processing and manufacturing which emerged 4.96 percent and market services. Of which, wholesale and retail mounted 4.3 percent; finance, banking, and insurance activities rocketed 6.78 percent. … [Read more...] about VIETNAM’S BUSINESS NEWS HEADLINES JULY 2
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Speakers at a National Assembly meeting on the socio-economic situation in the first half of the year held on Monday in Hanoi. — Photo courtesy of the National Assembly Speaking on Monday at a National Assembly meeting in Hanoi on the socio-economic situation in the first half, he said Vietnam has been able to contain the outbreak without any community infection for two months. … [Read more...] about HCM City Party chief calls for announcing ‘end’ of Vietnam pandemic, reviving economy
It remains to be seen how long domestic consumption can keep the economy afloat in the absence of a return to growth in other key sectors of the economy, but a closer look at Vietnam’s spending characteristics gives some reason for confidence. The critical factor is the importance of spending on essential goods and services, which accounts for 42% of national GDP, compared with just 26% for discretionary spending. With the impact of spending cutbacks mostly being felt by the latter category, a significant slice of the country’s economy could be relatively well insulated. … [Read more...] about Emerging from the pandemic, Vietnam must position itself for recovery
The Government began preparing in early January in response to the first two Covid-19 deaths in Wuhan. The first two Vietnamese cases were admitted to Cho Ray on January 23. At that time, the country was closed for Tet, Vietnam’s most popular holiday. When the holiday ended a week later, the nation’s schools were kept closed to avoid further virus transmission. … [Read more...] about How did Vietnam dodge Covid-19?
In his address, Plam Andrei Yurievich, Consul General of the Russian Federation in Danang City, affirmed that the nation is one of the three most important strategic partners that Russia has in all of Asia. The standard bearer of co-operation between the two countries is Vietsovpetro Joint Venture, a firm which provides one third of the volume of exploited crude oil in Vietnam. … [Read more...] about Vietnam praised as a reliable partner and prospective friend of Russia