Balancing the State Budget and very high expenditures being incurred in 2021 are proving to be extremely difficult. The severe impact of the Covid-19 pandemic has caused necessary but unplanned overspending.
A draft guidance document on pandemic response still leans towards a "zero Covid" strategy instead of living safely with it, and this can inhibit economic development, businesses say.
Foreign Direct Investment (FDI) inflow this year as of September 20 grew by more than 4 percent year-on-year thanks to gains recorded this month.
Deputy Minister of Planning and Investment Tran Quoc Phuong said the Vietnamese economy is facing many difficulties due to the complicated developments of the Covid-19 pandemic. The Ministry of Planning and Investment has proposed four solutions to promote economic growth in the final months of the year, with the highest priority given to pandemic prevention and control.
Foreign investment inflows into Viet Nam during the first nine months of this year rose 4.4 per cent year-on-ear to US$22.15 billion despite the impact of COVID-19, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
According to VCCI, given the complicated developments of the COVID-19 pandemic, businesses will have to live with the pandemic in the long run. Thus, it set up the Business Cooperation Council in Response to COVID-19 and coordinated with Facebook to build the virtual platform.
The government is to continue with the country's dual-target strategy, pursuing socio-economic development while keeping the spread of the novel coronavirus in check, said Prime Minister Pham Minh Chinh during an online meeting with local government leaders and the business community across the country on Sunday.
Businesses in Da Nang will be offered a 50 per cent reduction in fees for COVID tests and given vaccines to boost economic recovery by the end of this year.
Many businesses in HCM City’s ‘green zones’ (safe zones) that have been allowed to reopen since September 15 have adopted flexible models to meet the market’s new requirements.
Consumers are gravitating to digital plaforms for shopping amid the COVID-19 pandemic in Vietnam, and so are retailers, as per a Visa study.