Despite the extremely challenging environment in 2020, the momentum of Southeast Asia’s digital economy has clearly not been derailed. Google, along with Temasek and Bain, recently reported that Southeast Asians spent, on average, an hour more a day on the internet during pandemic-imposed lockdowns, accessing essential goods, healthcare, education, and entertainment. The region also added 40 million new internet users in 2020.
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Looking at Vietnam's economic prospects in 2021, many experts believe there are some risks. They include the accessibility of the Covid-19 vaccine; uneven economic recovery in partner markets; the trend of monetary easing and devaluation of the domestic currency in many Asian countries; and increasing trade remedies in importing countries.
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On January 19, the Vietnam Economic Institute (Vietnam Academy of Social Sciences) held a seminar on "Vietnam's Economy in 2020 - Promoting growth based on innovation".
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On January 12, the Vietnamese German Joint Economic Committee (JEC) was officially launched in Hanoi and Berlin. Due to the COVID-19 pandemic, the meeting took place virtually, with the participation of many officials and representatives from the Vietnamese and German government and businesses. The Vietnamese Minister of Industry and Trade, Mr. Tran Tuan Anh, and the German Minister of Economic Affairs and Energy, Mr. Peter Altmaier jointly chaired the inaugural meeting.
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Exporters face many difficulties due to the lack of empty containers, as well as the increase in shipping charges. Le DuyHiep (photo), Chairman of the Logistics Business Association (VLA), gave an interview to Customs Newspaper around this issue.
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The nation has been rated by businesses from Taiwan (China) as having great potential for development prospects, with the country’s importance increasing from 18% in 2018 to 24% by the end of 2020, ranking fourth overall, only behind the US, Japan, and China.
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For many years, the process of building a national brand name and the brand for each enterprise and product in Vietnam has achieved remarkable results, but it is far from expectation. To avoid Vietnamese goods being "anonymous" on the international market requires close coordination and constant efforts from both the state management agencies and the business community.
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The Ministry of Finance recently reported the results of synthesis and analysis of financial statements in 2019 of FDI enterprises to the Prime Minister.
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Vietnam and the European Union have experienced 30 years in their bilateral diplomatic relationship. Deputy Minister of Foreign Affairs To Anh Dung writes about both sides’ comprehensive strides in all sectors over the past decades, with shared brighter prospects awaiting ahead.
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Vietnam’s wood industry is leaving behind a successful 2020, ready to embrace the new advantages that some of last year’s signed and effective trade agreements bring with them. However, local associations recommend shifting the focus from purely manufacturing consumer goods to creating identifiable brands and innovations.
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