Thirdly, Viet Nam should not compete with other countries to court more foreign capital by only offering investment incentives, as this can distort resource allocation and will not have a meaningful impact in the long run. The country will be more attractive to foreign investors if it can correct its weaknesses and shortcomings, such as improving the capacity of capital absorbency, perfecting logistics infrastructure, upgrading workers’ skills and ability, and reforming institutions. … [Read more...] about Can Vietnam could take advantage of new foreign investment strategies?
Hanoi (VNA) – Foreign experts have highly evaluated Vietnam’s response to the recurrent outbreak of COVID-19. In a BBC article published on August 8, Prof Michael Toole, an epidemiologist and principal research fellow at the Burnet Institute in Melbourne (Australia), said: “Like in the first wave, Vietnam has responded quickly and forcefully” when talking about the sudden resurgence of the coronavirus in Da Nang. This central city sealed itself off from visitors and retreated into full lockdown after Patient 416, the first case of local infection after 99 days without community transmission in Vietnam. Each resident is set to be tested for the virus, and a field hospital has been erected as every resource is thrown at slowing the spread of the disease, according to the article. Meanwhile, Hanoi has closed down bars and karaoke parlours as an extra precaution, and several cities, including the capital and Ho Chi Minh City, have made face masks compulsory … [Read more...] about Foreign experts value Vietnam’s response to latest COVID-19 outbreak
If you take a closer look into the complementarities of our two economies, greater interdependence is really a win-win situation. These positive effects will of course only materialise if the promises and obligations of the agreements are swiftly put into practice. The benefits of the agreements will depend on the level of transparency and predictability of government behaviour in contact with business. Businesspeople and investors can be shy and have options to move elsewhere. Attracting and retaining more European FDI will require reforms and streamlining of rules and procedures. Digitalisation and access from outside of Vietnam to start and accomplish these procedures could help attract more small- and medium-sized global players. VIR … [Read more...] about How the EVFTA and EVIPA will help Vietnam lure investment
Vientiane (VNA) – The Lao Government has decided to tighten COVID-19 prevention measures in the face of transmission risks. The Lao Prime Minister’s Office on August 7 issued an urgent announcement of the enhancement of some measures against COVID-19 amid this country’s relaxation of virus containment actions. The announcement noted that facing the risk of a resurgence of COVID-19 amid the disease’s complex developments in the region and the world, the Lao Government decided to strengthen the enforcement of prevention measures. In particular, relevant agencies were asked to enhance examination of those exiting from or entering the country so as to detect any illegal entry cases, monitor entertainment venues and karaoke parlours which had been ordered to close temporarily, and deal with any violations of the government’s directives. Notably, the Foreign Ministry of Laos was assigned to coordinate with the country’s national steering committee for … [Read more...] about Laos strengthens COVID-19 prevention measures
As the US-China relationship has become worse and the trade war escalated, there have been many discussions in the US and other countries on how to ease reliance on Chinese economy and the companies from China. Nikkei reported that the Japanese government would prop up 70 billion yen to Japanese enterprises in this campaign. Prior to that, it also provided grants of 243.5 billion last April to help Japanese enterprises ease the reliance on China. … [Read more...] about Strategies for new FDI trends in Vietnam