Vietnam tightens grip on internet with data storage law

/ March 30, 2020

Cases of COVID-19 in Vietnam rise to 194

Six more people have been confirmed to have contracted the novel coronavirus SARS-CoV-2 on March 30 morning, and all of them are workers of the Truong Sinh Co. Ltd, which provides services for the Hanoi-based Bach Mai Hospital. A medical worker checks the body temperature of a person at the gate of Bach Mai Hospital in Hanoi As a result, the number of COVID-19 cases in Vietnam had reached 194 as of 6am of March 30. Case 189 is a 46-year-old woman who stayed at the same house with two other Truong Sinh employees who have tested positive for SARS-CoV-2. The five other infected women were born in 1971, 1984, 1997, 1999 and 1978. However, detailed information on those cases is not yet available. The Ministry of Health said it will announce the details later. Meanwhile, the ministry also corrected information about the 184th and 185th patients, who were confirmed on late March 29. Accordingly, Case 184 is a 42-year-old woman who works for the Truong Sinh company. She stayed at the same house with two other colleagues previously found positive for SARS-CoV-2. Case 185 is a 38-year-old man living in Hoai Duc district of Hanoi. He cared for his brother-in-law under treatment at the neurology department of Bach Mai Hospital on March 15-16 and March 18-19. Case 180 is a 27-year-old female student returning from France. She transited Thailand before arriving at Noi Bai International Airport in Hanoi on Flight TG564 on March 20. Case 181, a 33-year-old man, boarded the same flight to return to Vietnam from Thailand. The next patient is a 19-year-old female student who headed home from Switzerland. She arrived at Noi Bai airport on Flight VN618 on March 20 after transiting Thailand. The three are receiving treatment at the General Hospital of Ninh Binh province and in stable health condition. Case 183 is a 43-year-old woman living in Trung Hoa ward of Hanoi’s Cau Giay district. She is a reporter and had an interview with Case 148 on …

/ November 20, 2020

Covid-19 puts Vietnam under pressure for digital transformation: VCCI

The Hanoitimes - Further support is needed from policymakers to provide both legal and infrastructure means to boost e-payment in Vietnam. Given significant Covid-19 impacts on socio-economic life, the pandemic is putting huge pressure on Vietnamese enterprises to take on and speed up the digital transformation process, according to Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc. Chairman of Vietnam Chamber of Commerce and Industry Vu Tien Loc. Photo: Hoang Quyet. While the Covid-19 pandemic continues to persist with uncertainties, enterprises have no other choice than to speed up the changes and seek a more sustainable business model during the context of the pandemic, stated Mr. Loc at a forum discussing measure to boost non-cash payment among enterprises held recently in Hanoi. In late 2016, Prime Minister Nguyen Xuan Phuc approved a project aimed at promoting non-cash payment in Vietnam during the 2016 – 2020 period. Four years on, there have been improvements in non-cash payment activities in Vietnam, including significant upgrade in payment technologies and greater stability in the inter-banking e-payment system to meet growing demand of customers. The majority of e-payment methods are growing strongly in Vietnam, especially mobile banking with a growth rate of 200% in recent months. Statistics revealed the country is home to 70 credit institutions, not to mention intermediary payment services providers. In the first six months of 2020, the amount of transaction value via the internet is estimated at VND7,000 trillion (US$302.49 billion) and nearly VND300 trillion (US$12.96 billion) via mobile phones, which remain disproportionate to the potential of the economy, stated Mr. Loc. The value of transaction via inter-banking e-payment services in the first three months of 2020 expanded by 21% year-on-year. Despite such improvements, Vietnam still records a high ratio of people using cash in …

/ February 24, 2021

Prolonged pandemic issues cloud recovery

Dinh Quang Hinh, analyst at VNDIRECT Securities JSC, noted that the local economy’s recovery “will slow down”, especially in the next two months. According to Hinh, the tourism industry may still be the most affected by the new COVID-19 wave. Reports from travel and airline businesses showed that many travellers cancelled flights and hotel reservations, and postponed their plans. In addition, the blockade in some localities such as Hai Duong province and the closure of a number of non-essential services in other cities and provinces may reduce the growth rate of several service sub-sectors, especially accommodation, catering, tourism, and entertainment. At a cocentrated quarantine area. Photo: VNA Unfeasible policies Facing the serious impact of COVID-19 on the economy, Assoc. Prof. Dr. Pham The Anh, chief economist of the Institute for Economic and Policy Research (VEPR), said that the country could not pursue macro policies in the same way other countries would do, for example through large-scale monetary easing, due to limited financial resources after years of deficits, coupled with constraints to inflation and exchange rate targets. Vietnam was one of the few countries in the world with positive economic growth in 2020. But this year, according to Anh’s observation, “the policy space is no longer wide” to support economic growth and social security. Last year, the State Bank of Vietnam lowered interest rates three times and supported commercial banks with a VND250-trillion package ($10.87 billion), which is still being deployed. In addition, pandemic prevention and social backup subsidies to ease the impacts of the crisis are also putting great pressure on the budget balance. In 2021, monetary policy, particularly interest rate tools, will see a significantly reduced effectiveness, according to the VEPR’s chief economist. Anh also warned about an asset bubble that is forming in the stock and real estate markets. Last year, property …