The current crisis due to the impact of the Covid-19 pandemic has exacerbated structural weaknesses of Vietnam’s economy. According to a report by the World Bank (WB), these weaknesses can be overcome by accelerating the pace of reform identified by the Government in the national development strategy. One focus on structural reforms is to digitalize the economy and bring Vietnam's economy to the global value chain.
October, 2020
Thua Thien Hue, Vietnam
It is very difficult for mountainous areas to bolster new countryside development and it is even much more difficult for border communes. For this mission, in addition to their own efforts, border communes still need the support of the Government and the helping hand of the social community.
Launched in May 2018, the One Commune One Product (OCOP) Program has produced many positive outcomes. By May 2020, 61 out of 63 provinces and cities had approved their OCOP schemes/plans with 1,711 products qualifying under OCOP program standards.
The National Conference on New Rural Development, recently held in Quang Tri province, put forth core contents in the coming period: developing national criteria for new rural areas at all levels, striving for all districts in the country to have certified new countryside communes and developing rural economy.
Flexible trade promotion activities include: Enhance the application of information technology in trade promotion to improve the connection between enterprises and importers, consumers, trading systems; Build and provide databases on import-export enterprises urgently and promptly; Organize and coordinate online trade in the country and abroad;...
Over the past years, the Vietnam Social Security (VSS) has built professional software programs for most activities by developing multimedia interaction systems for people and businesses, notifying the process of receipt and settlement of administrative procedures for people and businesses to substantially reduce the service time.
Vietnam Business Forum would like to quote the recommendations by international associations, organizations and businesses on how Vietnam can respond to the Covid-19 pandemic to help the country’s economy gain back its full potential in the fastest and most sustainable way.
The Covid-19 pandemic has seriously affected Vietnam’s economy in general and the private economy in particular. Therefore, it is extremely necessary to restart the economy and support businesses to stabilize and stimulate growth after the Covid-19 epidemic, said Mr. Nguyen Quang Huan, Vice Chairman of the Vietnam Private Business Association (VPBA), Chairman of Halcom Vietnam Joint Stock Company.
The official implementation of EU-Vietnam Free Trade Agreement (EVFTA) will surely open up many opportunities for Vietnamese businesses to penetrate the global playing field. However, there are also many challenges for Vietnamese goods in terms of competition, origin of goods and especially on trade remedies.
Adjusting the industrial development policy towards increasing the capacity of the private enterprise sector will help Vietnam avoid the middle income trap.
The EU - Vietnam Free Trade Agreement (EVFTA) is set to take effect from August 1, 2020. In order to make good use of the opportunity from this new generation FTA, one of key points for many of Vietnam's billion-dollar export sectors is to meet the rules of origin.
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