If the Covid-19 pandemic was controlled in the second quarter, the exports of the second quarter would be “dog-tired” and export targets of the whole year could still "reach the target" with a growth rate of 7-8% compared to 2019 thanks to good utilisation of opportunities and breakthroughs in the second half of the year.
With Southeast Asia facing a funding deficit to meet its burgeoning energy and infrastructure needs, the region needs stronger coordination, skills and transparency in elevating sustainable projects to investors, according to the findings of a report by the Singapore Institute of International Affairs (SIIA).
The Ministry of Industry and Trade has proposed the Prime Minister to direct the Ministry of Finance and relevant agencies on the basis of balancing the State budget revenue and expenditure targets in 2020 and submitting plans to the Government for reporting to the National Assembly and the Commission.
The Ministry of Industry and Trade said that the most important priority at present was to maintain the operation of domestic industrial enterprises during the novel coronavirus (COVID-19) pandemic.
In the first quarter of 2020, Vietnam's export growth recorded the lowest level in 17 years. The Covid-19 epidemic in the EU, the United States, ASEAN, and the Middle East is on the rise, while countries applying measures to restrict travel will continue to affect Vietnam's import and export activities in the near future.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to create more impetus for Vietnam’s economic development and especially in the promotion of institutional reforms, if there is willingness and adaptability from Vietnamese policy-making agencies and the business community.
The latest information of the General Department of Customs shows the import-export turnover of the country tends to decrease compared to the same period in 2019.
Despite enjoying a large degree of economic openness, the Vietnamese economy is facing a range of challenges in the upcoming quarters and has been negatively influenced by many aspects of the turbulent global economy, according to Nguyen Bich Lam, director of the General Statistics Office (GSO).
Việt Nam’s gross domestic product (GDP) expanded by 3.82 per cent in the first quarter of this year – the lowest growth rate posted in the past 10 years – showing the tremendous impact the novel coronavirus (COVID-19) pandemic is having on the country’s economy.
The information that partners from the US and EU temporarily stopped importing textiles and many key products from Vietnam due to the Covid-19 epidemic is attracting great attention of the public, especially the import-export business community.
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