Vietnam is still seen as an attractive destination and the problems of 2021 do not mean that foreign investors will turn away, according to a recent report by Singapore Institute of International Affairs (SIIA).
Singapore (VNA) – Vietnam is still seen as anattractive destination and the problems of 2021 do not mean that foreigninvestors will turn away, according to a recent report by SingaporeInstitute of International Affairs (SIIA).
Entitled “From Crisis to Endemic: Stumbling orPressing Ahead?” the report examined the economies of Indonesia, Vietnam,Malaysia, and Thailand, which together account for over 70 percent of overall ASEAN grossdomestic product (GDP).
In 2020, Vietnam was held up as a model for its ability tocurb the initial COVID-19 outbreak, with discipline and social support forstrong measures, resulting in low, near-zero numbers, it said. However, this has changed in 2021, when the country has experienced a surge of cases since 27 April, driven by the Delta variant, and the situation could not return to the previous low levels of infection.
The extensive lockdowns to prevent the spread of the coronavirus have disrupted not only local consumption but also impacting the manufacturing and supply chain activities to export markets. The pandemic impacts were especially felt by manufacturersof garments and electronics, noted the report.
At the macro-level, however, theVietnamese economy showed considerable resilience. Even amidst the 2021pandemic situation, trade numbers have remained strong with Vietnam’s total tradevalue of goods up 33.5 percent year-on-year in the first five months of 2021. Thisis supported by strong economic recoveries in major markets, especially the USand China, according to the report.
Economists forecast Vietnam should still attract some 30 billion USD in foreign direct investment this year. (Photo: VNA)
The report said challenges and impacts experienced by businessesoperations and supply chains in 2021 could impact the future. Nevertheless,economists forecast Vietnam should still attract some 30 billion USD in foreigndirect investment (FDI) this year, or a 2 percent rise, year on year.
At a conference to announce the reports, experts held thatthe investment environment of Vietnam in the long term is prominent compared toother ASEAN major economies thanks to the political stability. Vietnameseattraction also comes from the country’s special policies to facilitateproduction and technology development, they said./.
Positive signs have been seen in the three areas of agriculture, industry, and service so far this year, while inflation was also controlled to under 4 percent as targeted.
Vietnam’s capacity to build long-term strategies is key for the country’s economic growth despite unprecedented difficulties brought by COVID-19 pandemic, according to Acting Director of the Far East Institute at the Russian Academy of Sciences Prof. Dr. Aleksey Maslov.
The English version of the Journal of Asian Business and Economic Studies (JABES-E) has been included in the list of Emerging Sources Citation Index (ESCI).
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Illustrative image (Source: Vingroup) 
Economists forecast Vietnam should still attract some 30 billion USD in foreign direct investment this year. (Photo: VNA) 
