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On the back of tremendous achievements in socio-economic development, Vietnam has made it among the 45 largest economies on the globe, but there are burning issues to resolve to maintain this performance. Vietnam is being among 45 world's largest-scale economy Speaking at the Vietnam Reform Development Forum (VRDF) 2019 today, Minister of Planning and Investment Nguyen Chi Dung said that Vietnam has always been one of the countries with the highest speed of growth in the world since attaining middle-income status. Average GDP in 2011-2018 was always higher than 6.2 per cent. At the end of last year, the country's GDP reached over $250 billion, placing it among the world's 45 largest economies, while GDP per capita was $2,600. Vietnam is an attractive destination for international businesses and organisations, newly-registered investment capital is rapidly rising, especially reaching $200 billion in 2011-2018. Following global trends, the Vietnamese economy is also developing … [Read more...] about Vietnam among world”s 45 largest economies

This morning (September 19), the Vietnam Reform and Development Forum (VRDF) is taking place in Hanoi to discuss reform and development as the 10-year socio-economic development strategy (2011-2020) is nearing its end. Minister Nguyen Chi Dung talking at VRDF With global political and economic complications arising, Vietnam needs to take a comprehensive and deep look at global trends and their implications to the country. Global GDP growth is decelerating, while global trade is slowing down at triple the speed. Experts over the world also said that FDI flows are decreasing. However, not all of this is a disadvantage and Vietnam can avoid much of the negative impacts if it acts smart. According to Prof David O. Dapice from the US' Harvard University, only about 50 per cent of the whole world will slip into recession. Vietnam will probably avoid calamity, but its growth momentum will slow down. "Vietnam should strengthen its advantages in FDI mobilisation, along with building … [Read more...] about VRDF suggests reforms for sustained development

Aiming to help local press agencies escape the domination of Facebook and Google in the advertising market, the Ministry of Information and Communications’ (MIC) Authority of Press on September 19 joined hands with Yeah1 to organise the workshop on launching the Appnews Vietnam application. The launch ceremony of Appnews Vietnam on September 19 Speaking at the workshop, director of the Authority of Press Luu Dinh Phuc said that despite being the main creators of content, local press agencies only hold a minor share of the local advertising market, while Facebook and Google easily palm 60-70 per cent. “This should be resolved as soon as possible.” Sharing the same view, Yeah1 chairman Nguyen Anh Nhuong Tong said that local press agencies are being cornered by tech giants like Facebook and Google who are "taking it all". He was of the opinion that the best way to regain the market is to create an alliance of all press agencies in Vietnam. “Appnews will … [Read more...] about Press alliance may trump Facebook and Google

A two-volume study laying out a pathway to a low-carbon and climate-resilient transport sector in Vietnam has just been released. Vietnam needs to craft smarter transport policies for its next 10-year public investment plan This analytical work, which is developed by Vietnamese Ministry of Transport in collaboration with the World Bank and German Development Cooperation (GIZ), comes at a critical time when the government of Vietnam is updating its Nationally Determined Contribution on reducing carbon emissions and set out its next medium-term public investment plan for 2021-2025. The first volume demonstrates that by employing a mix of diverse policies and investments, Vietnam can reduce its carbon emissions in the transport sector by up to 9 per cent with only domestic resources by 2030, and by 15-20 per cent by mobilising international support and private sector participation. “A resilient transport system is critical to the continued success of Vietnam’s … [Read more...] about Pathways to climate smart transport in Vietnam

Cutting standard working hours and offering progressive payment for overtime without changing the ceiling of overtime hours would run up costs for businesses, impacting their performance. The workshop titled “Draft Labour Code: Unexpected impacts on the economy” was organised on September 18 Aiming to create a comprehensive policy ensuring the benefits of employees and employers alike, the Central Institute for Economic Management (CIEM) on September 18 organised the workshop titled “Draft Labour Code: Unexpected impacts on the economy” with the attendance of ministries, branches, business associations, international organisations, and other stakeholders. Speaking at the workshop, CIEM's director Nguyen Dinh Cung said that the scope of the Labour Code’s regulations is huge and deeply impacts the local business environment as well as the nation's economic competitiveness. He went on to claim that the draft Labour Code contains several … [Read more...] about Disputes around the draft Labour Code

U.S. News & World Report has just released the ranking of the best economies to invest in this year, showing large changes, with three new faces among the top five. In particular, Vietnam surpassed its Southeast Asian neighbours including Malaysia, Indonesia, and Singapore to rank eighth, massively boosting its 23rd position last year. Vietnam ranked 8th in the list of best countries to invest in Fuelled by continuous growth, Vietnam itself continues to attract record foreign direct investment (FDI) volumes, bolstered by its committed to roll out an ambitious investment plan to develop overall infrastructure in major industrial poles, which will ease doing business and improve logistics. All these factors helped the country improve its ranking tremendously year by year. U.S. News & World Report's ranking is the results of a global perception-based survey and ranks countries based on the highest scores among nearly 7,000 business decision-makers on a compilation of … [Read more...] about Vietnam ranks eighth on list of best countries to invest in

The fresh launching of Novaland Real Estate Centre in Hanoi The new centre will be acting as a bridge to help timely introduce to the northern investors the group’s latest products and bring quality customer services on par with Novaland standards. This is also a place to help customers more conveniently access ‘all-in-one’ support services from Novaland such as after-sales service, or rental and transfer services, among others. At the same time, on the occasion of the Novaland’s birthday, the group introduces the "Gold Promotion Programme" with gifts worth up to 27 gold taels and many other attractive offers. In particular, customers in the north region will be entitled to doubling the Gold Promotion Programme with prize valued up to 54 gold taels at Novaland Hanoi Real Estate Centre from now until the end of September , 2019. Customers visit the mock-up of Novabeach Cam Ranh project of Novaland The programme is applied in conjunction with on-going … [Read more...] about Novaland launches real estate centre in Hanoi

The Vietnam Reform and Development Forum (VRDF) 2019 will take place on September 19 at the National Convention Center (NCC) in Hanoi with the theme “Vietnam: Aspiration for prosperity – Priorities and actions”. VRDF 2019 will invite participants to build an action strategy for prosperity in the next development phase VRDF 2019 is the continuation of the previous Vietnam Development Forum (VDF), but aims to be more inclusive by covering teh development issues of Vietnam with the participation of policymakers, development partners, domestic and foreign experts, and private sector representatives. The forum will take place annually in 2018-2021. Based on the success of VRDF 2018, the MPI reported to the prime minister and was approved to collaborate with the World Bank and other development partners for the organisation of VRDF 2019. Prime Minister Nguyen Xuan Phuc will not only attend and speak at the forum, but will also attend direct discussions with … [Read more...] about VRDF 2019 to build action strategy for prosperity

The Ministry of Transport declared in favour of its proposal to obligate both traditional and ride-hailing taxi firms to add a light box to the roof of vehicles The Ministry of Transport took to its heels to defend its proposal to the PM This was part of the response of the Ministry of Transport (MoT) to the prime minister's request for opinions from ministries to the draft decree replacing Decree No.86 setting out conditions for transportation business. Accordingly, the prime minister issued two plans to manage app-managed ride-hailing vehicles. The first plan is to install “TAXI” light boxes on top of vehicles, with the minimum size of 12 x 30cm. The second alternative is to install the ride-hailing app's logo and a sign board and connect their managing software to the authorities to ensure supervision. The MoT stated that the first option would allow equal treatment for traditional taxi and ride-hailing firms, adding that the installation of light boxes on … [Read more...] about MoT adamant about light box on ride hailing cars

The forum introducing the linkage programme for supporting industry enterprises to join the global supply chain is a highlight of NEPCON Vietnam 2019, which attracted local companies by the droves. NEPCON Vietnam 2019 was organised to bring supporting enterprises closer to the global supply chain The first day of NEPCON Vietnam has successfully introduced new technologies and solutions for Vietnamese professionals in electronics and provided updated tools for technical engineers. On the second day, Reed Tradex, in collaboration with the Vietnam Electronic Industries Association (VEIA) and the Industrial Development Center under the Vietnam Industry Agency, organised a forum to introduce the linkage programme for supporting enterprises to join the global supply chain. The session offered exclusive opportunities and support for Vietnamese business to join the global supply chain. The session was organised as in 2019 a wave of electronic component manufacturers are relocating … [Read more...] about NEPCON Vietnam 2019 links supporting enterprises with the world