Tag: economic recovery

Focus will be on mobilizing resources from government bonds, ODA, and other foreign preferential loans.

State President Nguyen Xuan Phuc held talks with Japanese Prime Minister Kishida Fumio on September 26 in Tokyo, as part of his visit to the country to attend the State funeral of late Prime Minister Shinzo Abe. The two leaders agreed to strengthen cooperation in post-Covid-19 economic recovery, boost links between the two countries, consider promoting strategic cooperation in priority areas such as providing new generation official development assistance (ODA) to Vietnam, and developing high-quality human resources.

On September 7, while participating in the Eastern Economic Forum in Vladivostok, Russia, via a video-recorded speech, Prime Minister Pham Minh Chinh affirmed that Vietnam has actively participated in multilateral initiatives, including regional and inter-regional economic links, and is ready to make active contributions to economic recovery and sustainable development in the Asia-Pacific.

The Ministry of Labor, Invalids and Social Affairs has noted an imbalance in supply of and demand for workers in certain localities and industries in Vietnam, with the needs of businesses not being met as they focus on economic recovery.

Da Nang’s economic recovery entered a breakthrough period in the first half of 2022, with its gross regional domestic product (GRDP) increasing 7.2 per cent year-on-year. Bright spots include accommodation and catering, and information and communication services, which rose 13.2 per cent and 9.4 per cent, respectively.

Mr. Phan Duc Hieu, Standing Member of the Economic Committee of the National Assembly (NA), told the “Evaluating the impact of the conflict between Russia and Ukraine on the Vietnamese economy” seminar held by VnEconomy on the afternoon of March 7 that the economy may indeed suffer. If Vietnam does not quickly identify appropriate policies, economic recovery will be difficult.

Mr. Tim Leelahaphan, an economist at Standard Chartered Bank, has predicted that Vietnam’s economy will recover from the end of the first quarter of this year. He expects GDP to reach 6.7 per cent in 2022 and 7 per cent in 2023. In the medium term, Vietnam will continue to be a favored destination of many businesses and an important part of the global supply chain.

As an important transport gateway, northern Hai Phong city has an open economy that could become deeply involved in international trade. To gain economic breakthroughs in 2022, the city has defined six tasks, including the dual goal of controlling the pandemic and developing the economy, developing transport and industrial infrastructure, assisting businesses, improving the labor market, and accelerating digitalization.

Permanent Deputy Prime Minister Pham Binh Minh has approved a pilot plan to restore regular international flights from January 1 to and from destinations with a high Covid safety index. The move will also promote Vietnam’s economic recovery and tourism sector and not let the country fall behind others in the region.

A pressing problem for Vietnam today is to identify solutions for sustainable economic recovery and development in the post-pandemic period while supporting long-term growth drivers promoting the process of industrialization and modernization, economists said at the 3rd annual Industry 4.0 Summit.

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.

A master plan on economic recovery and development following Covid-19 is to be prepared, focusing not only on economic issues but also on social issues, health, mental well-being, and young people, according to National Assembly Chairman Vuong Dinh Hue.