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
To balance accounts
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
In the last decade .their investments in Vietnam swelled by an average of 13 percent a year. By the end of last year their total investment was only around $13 billion, not enough to put Thailand in the top five list, but still managed to have large market shares in several sectors by concentrating their investment in a handful of sectors. In the retail sector, some leading supermarket chains are controlled by two Thai companies, Central Group and TCC Group. Central Group, Thailand’s leading retailer, which belongs to the Chirathivat family, started off in Vietnam as a fashion merchandiser in 2012, distributing products from brands such as SuperSports, Crocs and New Balance. In 2015, it acquired a 49 percent stake in electronics retailer Nguyen Kim through its subsidiary Power Buy. In the same year, it bought out supermarket chain Lan Chi, which operates mainly in northern rural areas. In 2016, it bought supermarket chain Big C Vietnam from France's Casino Group for over $1 … [Read more...] about Which sectors in Vietnam are dominated by Thai companies?
Prime Minister Nguyen Xuan Phuc (Photo: VNA) Hanoi (VNA) - Prime Minister Nguyen Xuan Phuc attended and delivered remarks at an open debate of the UN Security Council (UNSC) on addressing climate-related risks to international peace and security, which was held in the form of video conferencing on February 23. Following is the full text of the Prime Minister’s remarks. Mr. President, I applaud the initiative of the UK Government and yourself, Mr. President, to host this important UNSC open debate on “Addressing climate-related risks to international peace and security”. I would like to thank UN Secretary General António Guterres and Chair of the UN Youth Advisory Group Nisreen Elsaim for your insightful and substantive information and recommendations. Mr. President, Earth – our blue planet, and our shared home – is suffering from grievous impacts of climate change. 2020 was one of the three hottest years in modern history, and was faced with the constant and severe … [Read more...] about Remarks by PM Nguyen Xuan Phuc at UNSC meeting on addressing climate-related risks to international peace, security
Shrimps processed for export (Photo: VNA) HCM City (VNA) – Ho Chi Minh City ’s Department of Industry and Trade has set the target to export 48.19 billion USD worth of products in 2021, a year-on-year surge of 10 percent. Under its development plan for 2021 recently submitted to the municipal People’s Committee, the sector said import revenue is estimated at 56.47 billion USD for the whole year, up 11 percent against the previous year. Besides, it eyed to reel in more than 835.68 trillion VND (36.29 billion USD) from retail sales and services revenues in the year, up 10 percent year-on-year. The department said it will carry out necessary measures in a comprehensive fashion to branch out industry and trade, contributing to promoting economic recovery of the southern hub. Earlier, HCM City set a goal of boosting the export of its key products this year and beyond via trade promotion activities and assistance to enterprises. Head of the statistics office Huynh Van … [Read more...] about HCM City eyes 10 percent growth in export in 2021