Log in
Econ

Vietnam to resume economic activities with countries having Covid-19 vaccines

Minister of Planning and Investment Nguyen Chi Dung outlined five major solutions for Vietnam to realize its socio-economic development goals in 2020.

Vietnam should prepare methods to resume trade and investment activities with countries having Covid-19 vaccines, while pushing for international cooperation in vaccine distribution to high risk areas.

 Minister of Planning and Investment Nguyen Chi Dung. Photo: Quang Hieu. 

This is among solutions put forth by Minister of Planning and Investment Nguyen Chi Dung at a government’s monthly meeting on December 2 to aid the country’s efforts in realizing its socio-economic development goals in 2020.

"Government agencies should closely monitor the pandemic situation globally, and strictly carry out anti-Covid-19 measures under the instruction of the National Steering Committee on Covid-19 Prevention and Control," Mr. Dung said.

He said Vietnam needs to pursue flexible fiscal and monetary policies to push up economic recovery  andfurther support enterprises and people affected by the pandemic.

Mr. Dung said the Ministry of Planning and Investment (MPI) is in process of drafting stimulus packages and support programs for priority fields, including tourism, hospitality, catering and transportation, among others, to ensure the attainment of dual target in both containing the pandemic and boosting economic growth.

"There should be stronger efforts against animal diseases in cities and provinces nationwide, while poviding breeding animals and production materials to natural disaster-hit regions to avoid disruption of economic activities and ensure people's living standards," he added.

Mr. Dung said the country needs to continue diversifying export activities and expand trade in potential markets by taking advantages of major trade deals, including the CPTPP and EVFTA.

Government agencies should assess the impacts of the recently-signed RCEP on the economy, and provide updated information to the business community, especially small and medium-sized ones, so that they could fully benefit  from the deal.

As public investment remains a key solution to boost economic recovery, Mr. Dung stressed it is essential for Vietnam to accelerate the disbursement progress of public funds, while continuing to monitor issues emerged during the process.

In 2020, the International Monetary Fund (IMF) has revised up Vietnam’s economic growth forecast to 2.4%, among the highest in the world, from its initial estimate of 1.6%. Such growth rate is in line with the government target of 2.5 – 3%.

Reactions:
Share:
Trending
Most Viewed
Related news
Vietnam unveils new strategies to boost domestic market, aid businesses

Vietnam unveils new strategies to boost domestic market, aid businesses

As global trade uncertainties grow, Vietnam sees the domestic market not only as a key consumption driver but also a “lifeline” for businesses hit by protectionist export barriers.

Vietnam eyes US tilapia export boost as global supply falls

Vietnam eyes US tilapia export boost as global supply falls

Vietnam aims to increase tilapia output to 400,000 tons by 2030, making it the second-largest freshwater export species after pangasius.

Vietnam’s enterprises must act fast to weather US tariff shock: Experts 

Vietnam’s enterprises must act fast to weather US tariff shock: Experts 

Many of the key Vietnamese exports, such as wood products, electronics, and textiles, that are not on the US exclusion list could face steep tariffs.

Vietnam's mobile money pilot program extended to end of 2025

Vietnam's mobile money pilot program extended to end of 2025

Mobile Money, launched by the Ministry of Science and Technology, differs from e-wallets by linking users’ payment accounts directly to mobile phone numbers.

Vietnam taps innovation, global ties to elevate national brand

Vietnam taps innovation, global ties to elevate national brand

Vietnam is intensifying efforts to enhance its national brand, leveraging innovation, global partnerships, and strategic policies to bolster its global competitiveness and market presence.

Vietnam extends US$3.9 billion loan package for agro-forestry-fisheries

Vietnam extends US$3.9 billion loan package for agro-forestry-fisheries

The government has expanded the scope and scale of the credit program for the sectors which brought about US$62.4 billion worth of exports in 2024.

Vietnamese public shows rising satisfaction in 2024 PAPI survey

Vietnamese public shows rising satisfaction in 2024 PAPI survey

The 2024 PAPI survey found increasing citizen satisfaction with governance, but highlighted persistent administrative challenges, climate vulnerability, and gaps in access to public services.

Hanoi calls for VAT cuts and credit support amid US tariffs

Hanoi calls for VAT cuts and credit support amid US tariffs

Hanoi’s export-driven economy faces new challenges as the US, one of its top trading partners, considers imposing steep tariffs on Vietnamese goods.