Pandemic

A reduction of 50% of the registration fee for domestic cars and the removal of import tariff for car parts not available domestically would help boost the domestic car market.

Up to 17.6 million people have received less income than before the Covid-19 outbreak while the services sector faced the most severe impacts with 72% of its workforce directly affected.

With a growing number of multinationals looking to set a foothold in Vietnam, the country is having a great opportunity from a new wave of foreign investment, according to the trade ministry.

In the most optimistic scenario, Vietnam’s economy is predicted to expand 2.6% year-on-year, lower than the International Monetary Fund (IMF)'s forecast at 2.7%.

Over 1.6 million people in Kazakhstan have been tested so far and the country is carrying out almost 90,000 tests per one million population (almost 14,000 tests per day).

While countries across the world are still in the fight against Covid-19, Vietnam has resumed business as usual and become one of the first countries to diversify the supply chains.

For this year and early 2021, the PM expects fiscal deficit and public debt could widen by an additional 3–4 percentages of GDP to provide more support for enterprises.

Vietnam’s economy is expected to buck the global trend and expand by 3.0% year-on-year in 2020, being one of the best performing economies in the world in 2020.

In the final six months of the year, Hanoi would continue to boost administrative reforms in state budget collection and address concerns of the business community, said a Hanoi leader.

Hanoi would do its utmost to contribute to the Vietnam – US relations, as well as the city’s cooperation with US cities, said Hanoi's Party chief Vuong Dinh Hue.