Industry

Experts have said that concise and detailed regulations will facilitate investors and mitigate the impact on the environment.

A network of 500 organizations and individual experts would be set up to facilitate digital transformation in the business community.

Leaders from localities and ministries are set to face strict punishment in case the disbursement of public funds is behind schedule.

No efforts would be spared to prevent a public health crisis and subsequent socio-economic crisis, for the country to return to its normalcy as soon as possible.

The rail freight link between Vietnam and Belgium is a major milestone for the railway industry.

The Japan-Vietnam strategic partnership has been strengthened over the years.

The total amount of fiscal supports in the forms of waiving and reducing taxes, fees, or land rental fees from 2020 to date has reached a total of VND118 trillion ($5.18 billion).

The move is aimed at promoting the use of more environmentally-friendly car models in Vietnam.

For the past four years, the Vietnamese Government‘s strong efforts in dealing with the issue have been recognized by the European Commission.

A Government task force would be set up to address concerns from businesses and people affected by the pandemic.

Car manufacturers are planning to shift production chains elsewhere to Vietnam in case such tax incentives are extended.

Vietnam has leapfrogged Bangladesh to become the world’s second-largest exporter of clothing in 2020 with a turnover of US$29 billion, down 7% year-on-year, according to the World Trade Organization.

Given the unpredictable nature of the pandemic, textile firms have failed to develop concrete plans for production accordingly.

Firms remained optimistic overall of output growth over the coming year.

Vietnam’s economy could take a few positives out of the pandemic and stay competitive in the long run.

Manufacturing and processing continue to be key driving forces for the growth, making up 25% of the GDP.

Social distancing measures in many provinces and cities are bringing enterprises, especially small and medium ones, to the brink of collapse.

Vietnam is expected to move to a group of upper-middle-income countries by 2025.

Vietnam’s economic prospects in the remaining months of the year would depend on the country’s efforts in ending the current Covid-19 outbreak.

Vietnam has the best wind resources in Southeast Asia, featuring yearly average wind speed of 9-10 meters per second.