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Digital economy predicted to reach $43 billion by 2025

Vietnam’s digital economy is expected to reach $43 billion by 2025, according to the e-Conomy Southeast Asia report from Google, Temasek and new partner Bain & Company. A customer uses smart phone to scan code on a product Nguyen Quang Dong, Director of the Institute for Policy Research and Communication Development, said digital service industry is recording the fastest growth and is suitable with Vietnam’s strengths such as a young population who love technology and social networks. Digital technology and the digital economy will be key drivers helping Vietnam increase workplace productivity, escape the “middle-income trap”, and realise the objective of becoming a middle-class developed economy by 2040, Dong said. Vietnam’s internet infrastructure and digital payment services remain limited, however, while the country still lacks a legal framework for digital assets, he said, stressing that the legal model of the 20th century no longer suits the digital … [Read more...] about Digital economy predicted to reach $43 billion by 2025

Room for Vietnam-Russia trade growth remains large: Deputy PM

The Hanoitimes - Activities including trade expos are expected to tighten economic ties between the two countries which will celebrate the 70th anniversary of diplomatic ties next year. Two-way trade between Vietnam and Russia is of great potential and Vietnamese authorities will create more favorable conditions for the investment and operations of Russian firms, Vietnamese Deputy Prime Minister Trinh Dinh Dung has said. Vietnam's Deputy Prime Minister Trinh Dinh Dung. Photo: Linh Pham Vietnam and Russia trade will greatly depend on vision and determination from the both sides, especially the business communities, Dung said at the Expo-Russia Vietnam 2019 taking place in Hanoi on November 14-16. Being a member of 13 free trade agreements (FTAs), 12 of which are already effective, Vietnam has been committed to international regulations requiring high standards for goods and trade activities, Dung said, adding that FTAs will encourage foreign companies to … [Read more...] about Room for Vietnam-Russia trade growth remains large: Deputy PM

VIETNAM NEWS HEADLINES MARCH 2

Red Spring Festival expects to collect over 4,000 blood units Young people donate their blood In his opening remarks, Director of the National Institute of Hematology and Blood Transfusion (NIHBT) Bach Quoc Khanh, who is head of the festival’s organizing board, said that the festival has been held annually since 2008 to address blood shortages after the lunar New Year holiday, and gradually changed public awareness of blood donation. After 13 editions, the festival has collected over 85,000 blood units and become the annual biggest blood donation event. Khanh took the occasion to express his gratitude for donators nationwide. The 14th edition is taking place from March 1-7 at the NIHBT headquarters, and three fixed places - 26 Luong Ngoc Quyen in Hoan Kiem district, 132 Quan Nhan in Thanh Xuan district, and Valley 122 of Lang Street in Dong Da district. The organizing board expects to receive over 4,000 blood units during this year’s festival, which then will … [Read more...] about VIETNAM NEWS HEADLINES MARCH 2

Pharmaceutical sector riding high on back of pandemic

Pharmaceutical sector riding high on back of pandemic. Source: freepik.com Swiss pharma giant Novartis delivered a solid performance in 2020 across strategic priorities. Net sales reached over $48 billion in the fiscal year, up 2.5 per cent on-year. Its core net income hit $13.15 billion, up 8.67 per cent. Novartis CEO Vas Narasimhan said, “Operationally, we grew sales and continued to improve core operating margins for innovative medicines. We advanced our next wave of medicines, achieving a number of new approvals highlighted by Kesimpta in the US, and Leqvio and Zolgensma in the EU, and progressed our broad and deep mid-stage pipeline of first-in-class medicines.” Last year Novartis continued to focus on its status as a leading medicines company powered by advanced therapy platforms and data science. It also continued to advance transformative innovation for patients, including treatments for hyperlipidemia and multiple sclerosis. Coronavirus-related lockdowns in several … [Read more...] about Pharmaceutical sector riding high on back of pandemic

Indonesia: Tourism continues suffering in January

Jakarta (VNA) – The number of foreign tourist visits to Indonesia in January still suffered from the COVID-19 pandemic and declined by 89.05 percent compared to the same month of last year, the country’s statistics bureau (BPS) reported. The arrival numbers lowered from 1.29 million in January 2020 to 141,260 in the first month of this year. Compared with last December, the number of visitors decreased by 13.9 percent. The room occupancy rate of star-classified hotels in Indonesia was also down 30.35 percent compared to 49.17 percent recorded a year ago and 10.44 percent from the previous month. Indonesia ’s Minister of Tourism and Creative Economy Sandiaga Salahuddin Uno said the country targets welcoming around seven million foreigners this year. To this end, the ministry will focus on completing the development of five super priority destinations, like Lake Toba in North Sumatera, Borobudur in Central Java, Mandalika in Lombok, Labuan Bajo in East Nusa Tenggara, and … [Read more...] about Indonesia: Tourism continues suffering in January

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