Vietnam Today

A Non-Disclosure Agreement on technology transfer, production, and distribution relating to the Nanocovax vaccine has been signed between India’s Vekaria Healthcare LLP and Vietnam’s Nanogen Pharmaceutical Biotechnology JSC. This will be the basis for the two sides to discuss specific cooperation on the third phase trial of the expansion, production, and distribution of the vaccine on a large scale when it is licensed for use.

Vietnam’s seafood industry will lose about $480 million a year if it receives a “red card” from the European Commission (EC) for illegal fishing. The industry’s capacity would reduce by at least 30 per cent if the “red card” was imposed for two or three years. Seafood currently contributes about 5 per cent of GDP and employs 4.7 million workers. The EU is Vietnam’s fifth-largest seafood market.

The Vietnam Chamber of Commerce and Industry (VCCI) has sent a proposal to the Ministry of Finance in response to a draft Resolution from the National Assembly Standing Committee promulgating a number of solutions on budget revenue to support businesses and individuals affected by Covid-19. VCCI has proposed extending support measures until the end of June 2022, broadening their scope and scale and adding solutions relating to expenses.

The Ministry of Industry and Trade (MoIT) has decided to establish a special working group to ensure the supply of goods and support the maintenance of production and business activities in the northern and central regions. The special working group is tasked with connecting the supply and demand of essential goods between cities and provinces in the two regions, and creating favorable conditions for the export of goods, especially agricultural products, by, among other things, supporting logistics providers in order to avoid supply chain disruptions.

Some VND233.67 trillion ($10.16 billion) came from the State budget in the first seven months of 2021 to pay government debt, of which domestic debt was about VND198.9 trillion ($8.66 billion) and foreign debt about VND34.77 trillion ($1.51 billion).

The risk of continued community transmission of Covid-19 in Vietnam is very high, according to the World Health Organization (WHO). Vaccinations are key to ending the pandemic, but are not the only measure, as they alone cannot end community transmission. The Ministry of Health’s “5K” strategy therefore needs to be continued. Many countries, including Vietnam, lack vaccines.