Chủ đề: Vietnam

Electricity shortages in China have led to a decline in the supply of iron, steel, and cement, opening up export opportunities for Vietnamese firms. The opportunity will be short-term, however, as China is likely to soon restore supply.

According to Mr. Michael Kokalari, VinaCapital’s Chief Economist, the conditions and business practices in the Chinese and Vietnamese real estate markets are not the same, so the chance that the Evergrande debt crisis in China will affect Vietnam is negligible.

Prime Minister discusses Vietnam’s digital transformation process at ITU Digital World 2021 event.

Forty-two corporate bond issuances were conducted in September, mobilizing VND29.734 trillion ($1.3 billion). The real estate group attracted VND8.394 trillion ($369.56 million) in private placements with high interest rates. Experts, however, have warned that this may be the beginning of a “Vietnamese Evergrande”.

Leaders from the Vietnam National Administration of Tourism (VNAT) have prepared a safe reopening roadmap to resume both domestic and international tourism. Vietnam’s tourism sector is expected to fully reopen to international visitors from June 2022.

Vietnam has received 300,000 doses of Covid-19 vaccine and medical equipment from Australia. This is the second batch of vaccines from the country, under a commitment to provide 1.5 million doses of AstraZeneca to Vietnam in 2021.

Vietnam’s automobile market welcomed many new models in different segments in September, with prices ranging from VND600 million ($26,415) to VND5 billion ($220,160). Some models feature artificial intelligence and are assembled in Vietnam.

Negative GDP growth in the third quarter has resulted in revised forecasts for growth in the year as a whole.

Vietnam is the world’s second-largest coffee producer, with output of 29 million 60-kg bags in 2020, just behind Brazil, and has the highest coffee yield in the world.

USAID (US Agency for International Development) has worked with the Ministry of Planning and Investment to conduct the Workforce for an Innovation and Start-up Ecosystem (WISE) Program. Activities will last over two years with total sponsored capital of $2 million from USAID.

Prime Minister Pham Minh Chinh has said that the government is determined to step up all measures to loosen mechanisms, free up resources, and create new drivers to promote economic growth.

Multilateral organizations and international banks have all lowered their forecasts for Vietnam’s economic growth in 2021 yet remain optimistic. They expect a partial recovery in economic activity in the fourth quarter of 2021 and a strong recovery in 2022.

The World Bank (WB) has recommended that Vietnam continue to deploy resources to minimize the adverse social impacts from the pandemic and address the risks to growth.

At a meeting between Minister of Foreign Affairs Bui Thanh Son and Foreign Minister Sergei Lavrov during the former’s official visit to Russia, the two countries agreed to soon restore normal travel by the citizens of both.

FDI enterprises have continued to increase their capital flows into Vietnam despite Covid-19. The country, however, must ensure the circulation of goods and supply chains in order to maintain its attractiveness.

Based on macro-economic indices, many experts and associations have predicted that GDP growth may be negative in the third quarter. The impact will only be short term, however, because production and business activities will soon recover.

Foreign investment up in volume in first nine months as disbursement and project numbers fall.

Six cities and provinces around Vietnam will set up steering committees prior to October 15 to speed up the first phase of e-invoice implementation, from November 2021 to March 2022. In the second phase, from April 2022 to July 2022, e-invoices will be implemented in the remaining localities.

South Korea will donate 1 million doses of Covid-19 vaccine to Vietnam. This is the first vaccine donation from South Korea to a foreign country, joining its financial support for the COVAX mechanism.

Vietnam posted a trade surplus of $59 million in July with members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), an increase of 60.52 per cent compared to June. This shows that the CPTPP holds significant potential as an export market.