Vietnam Today

According to the World Bank (WB), with negative growth posted in the third quarter, Vietnam’s GDP growth rate for the year as a whole will be reduced significantly, to 2-2.5 per cent. It recommends that the country continue to provide financial support to businesses to restart business activities after a long period of closure, especially in the tourism, catering, and accommodation sectors.

Hanoi is allowing agencies and businesses to return to normal from October 14. Buses and taxis are permitted to operate according to capacity levels and on routes prescribed by the Ministry of Transport (MoT), while restaurants and eateries are able to serve sit-down customers.

Recent provisional regulations issued by the government specify four pandemic levels in which specific socio-economic activities are allowed to operate. Intra-provincial and inter-provincial goods transportation and circulation, production plants, and traffic and construction works are allowed to operate at all four levels.

National Assembly Chairman Vuong Dinh Hue on October 12 received leaders of businesses attending the Vietnam Business Leaders Forum and the Awards Ceremony for Excellent Brand Enterprises, an annual event organized by the Vietnam Economic Times Group. Speaking on this occasion, the NA Chairman said there will be new approaches to defeat Covid-19 and businesses will strive to overcome the difficulties as well as make use of the opportunities.

The anticipated socio-economic development plan for 2022 includes GDP growth of 6-6.5 per cent, CPI growth of about 4 per cent, and labor productivity growth of some 5.5 per cent, among others. These are considered quite high targets, especially given the long-term impact of the pandemic and potential instability in 2022, according to National Assembly delegates.

Eleven business associations have proposed the government review a draft Decree guiding the Law on Environmental Protection 2020. Certain contents, they believe, are inconsistent with existing laws and Vietnam’s conditions and will seriously affect the business and investment environment and the operations of enterprises.