Chủ đề: recovery

The annual Vietnam Business Forum (VBF) was held on February 21 in Hanoi, with the participation of Prime Minister Pham Minh Chinh. Representatives from the business community made a host of suggestions to contribute to the recovery of Vietnam’s economy. At the same time, the role and responsibility of enterprises in the development of a stable and sustainable global value chain were also addressed.

The difficulties from Covid-19 have awakened consumer businesses and sparked their creative potential to actively adapt and create momentum for new development.

Vietnam’s economic recovery and development program will focus on 2022 and 2023 but may take longer for some large-scale investment projects, Deputy Minister of Planning and Investment Tran Quoc Phuong has said. The implementation of solutions will mainly involve fiscal and monetary tools.

In a recent report, the World Bank (WB) pointed out that many of Vietnam’s socio-economic indicators are showing signs of a positive recovery. It believes the country’s economy has improved and will continue to grow.

Vietnam’s labor market was hit hard by Covid-19 but 70 to 75 per cent of workers have returned to industrial zones and processing zones, with the figure even reaching 90 per cent in some localities, according to Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung. He also predicted that the labor market will return to normal by the second quarter of 2022.

At a regular conference of the government, the Deputy Minister of Planning and Investment spoke of Vietnam’s socio-economic recovery and development program, which features five main groups of solution.

Ho Chi Minh City’s economy was one of the hardest hit by the fourth wave of Covid-19, but with its overall capacity remaining intact, well-targeted, fast, and effective recovery programs are being implemented and will enable it to accelerate its development from 2022. Nearly VND30 trillion ($1.32 billion) is needed for such programs.

Six per cent of enterprises in the wood industry surveyed by the Vietnam Timber & Forest Products Association said their revenue in 2021 will remain unchanged compared to 2020, while 37 per cent expect to see lower revenue and only 17 per cent anticipate higher revenue. The results are positive compared to previous predictions about the industry.

The billion-dollar seafood product industry is in a worrying state because of disruptions to domestic supply chains.

Solutions to reopen the economy, support businesses to recover production, and loosen credit or lower interest rates are good news for the stock market, which may recover strongly in the fourth quarter of 2021.

Continuing concerns over pandemic sees organizations reconsidering growth forecasts.

The Vietnam Chamber of Commerce and Industry (VCCI) has sent a proposal to the Ministry of Finance in response to a draft Resolution from the National Assembly Standing Committee promulgating a number of solutions on budget revenue to support businesses and individuals affected by Covid-19. VCCI has proposed extending support measures until the end of June 2022, broadening their scope and scale and adding solutions relating to expenses.