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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 … [Read more...] about Prolonged pandemic issues cloud recovery

Hi-tech agriculture proves effective in Dong Nai Agricultural production has been affected by abnormal weather conditions, climate change, and diseases over recent years. Many farms in southern Dong Nai province have applied high-technology in agricultural production in order to cope with the situation, helping increase quality and output. High-tech production requires massive investment, not just capital but also technology, equipment, and “grey matter”, to adapt to cutting-edge manufacturing methods. High-tech manufacturing models have been expanded around Dong Nai, especially in animal husbandry and on poultry farms. Dong Nai has more than 46,000 hectares of crops using water-saving technology and the province has gradually changed to green breeding in accordance with Vietnamese Good Agricultural Practice (VietGAP) standards. Agriculture accounts for 8.3 percent of Dong Nai’s economic structure and agro-forestry-fisheries value currently stands at nearly 1.8 billion … [Read more...] about VIETNAM BUSINESS NEWS FEB. 24

Dung thanked the Thai government for facilitating flights bringing Vietnamese citizens home, and supporting those who are studying and living in Thailand. He suggested Thailand limit trade barriers, exchange information about export-import regulations and procedures, and further support and closely cooperate with Vietnam in regional and international organisations and forums. Thani congratulated Vietnam on the successful organisation of the 13th National Congress of the Communist Party of Vietnam, and its outstanding performance of the ASEAN Chairmanship 2020. Thailand attaches importance to and has worked to continuously consolidate and strengthen the fine bilateral friendship, the official said. Vietnam has become a model in the COVID-19 combat worldwide, he said, stressing that Thailand will continue its close coordination with Vietnam in fighting the pandemic and reviving supply chains, as well as in the efforts to access safe and effective COVID-19 vaccines. Thailand … [Read more...] about Vietnam, Thailand agree to deepen enhanced strategic partnership

Local authorities announced the information during a meeting between the cabinet, the National Steering Committee for COVID-19 Prevention and Control, and localities on February 24. Quang Ninh recently issued a resolution stipulating urgent tasks and solutions in the COVID-19 fight. It will cut 10 percent from regular spending and increase budget contingency to a maximum of 4 percent per total budget spending in order to provide the resources to fight COVID-19 and other diseases and respond to natural disasters and emergencies. As of February 24, Quang Ninh had reported 61 COVID-19 cases. Local departments, agencies, and localities have been urged to remain vigilant and take measures seriously, synchronously, and effectively to prevent the spread of the pandemic. At a meeting on February 23, the standing board of the provincial Party Committee decided to provide 4 billion VND to the neighbouring province of Hai Duong, which is now grappling with COVID-19 clusters. Source: … [Read more...] about Quang Ninh to spend 500 billion VND buying COVID-19 vaccines

Briefing participants on an overview report of the government’s performance in the 2016 – 2020 tenure, Minister and Chairman of the Government’s Office Mai Tien Dung said the government has stuck to its commitment of building a public-serving and constructive government of integrity and action since the beginning of its term. The government has without delay issued programs and plans to translate the resolutions of the Party and NA into reality and implemented the 2011 – 2020 socio-economic development strategy, Dung said. In the face of the COVID-19 crisis, the government has demonstrated consistency in fulfilling the dual goals of containing the novel coronavirus, with a moto “fighting the pandemic is like fighting an enemy,” and recovering and developing the economy. This year, the government will continue focusing on fulfilling the twin goals, he noted, adding that it will keep guard up against the disease, seize all opportunity to recover and develop the economy in the “new … [Read more...] about NA leader praises government’s performance over last tenure