The slow improvement of competitiveness has made the contribution of the private sector not correspond to the quantity, scale and this does not reflect its true potential. In addition, there are still mechanisms and policies that prevent businesses and business households from expanding operation.
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Assoc. Prof. Dr. Pham Tat Thang, Senior Researcher of the Institute for Strategy and Policy Studies (Ministry of Industry and Trade), said that it is necessary to focus on measures and how to organize and implement the Strategy so that it can achieve the highest efficiency.
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Vietnam’s economy has recently received many optimistic signals from the business community, which are fuelling expectations of a stable and rapid recovery after a long disruption due to the COVID-19 pandemic.
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The Resolution of the 13th Party Congress determined that the development of the agricultural sector should change from thinking about agricultural production to thinking about the agricultural economy. Mr. Nguyen Quoc Toan, Director of the Department of Agricultural Product Processing and Market Development (MARD), said this means that the agricultural industry will develop and shift to a state of focus on added value, taking value as a measure.
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In the report on "The labor market in the fourth wave of Covid: situation and direction" published by Navigos Group, the leading human resource recruitment service provider in Vietnam, the labor demand of enterprises was huge.
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After over one year of entry into force, the EU-Vietnam Free Trade Agreement has enabled Vietnam to attract more investments from the EU and expand trade with this bloc’s member markets.
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Since the beginning of the fourth outbreak of COVID-19, many garment and textile enterprises have faced difficulties, even the risk of bankruptcy, due to the temporary suspension of production to ensure the pandemic prevention and control.
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Speaking to Customs News, Tran Thanh Hai, Deputy Director of the Import-Export Department (Ministry of Industry and Trade) said that Vietnam is a favorable location for the convergence of supply chains. In the future, if the Government issues documents with certain criteria in the movement of workers, it will greatly facilitate businesses in restoring production.
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Investment during the pandemic has proved challenging for investors across the globe. However, hopes for this top-performing Asian economy are growing as the Vietnam market has outperformed other international peers thanks to its GDP growth amid COVID-19 last year, according to the Bangkok Post.
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Many enterprises in the processing and manufacturing industries with large export turnover such as textiles, footwear, wood, etc. are eagerly looking forward to returning to production, when many localities gradually reopen their economies after social distancing. However, complicated conditions, different policies in localities and labor shortage are major challenges that most businesses have to face.
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