Overseas remittances are expected to fall short of the target this year due to the economic crisis caused by the COVID-19 pandemic and shutdowns around the world.

The wood processing industry is to become a spearhead economic sector by 2025, posting export turnover of about US$20 billion to contribute to socio-economic development and stabilise the livelihoods of people living in forested areas.

Foreign corporate executives remain optimistic about Vietnam’s economic prospects despite the new COVID-19 outbreak that prompted the imposition of social distancing in some localities, especially in the central city of Da Nang.

A dialogue with the theme “Sustainable Maritime Development: Sharing Vietnam and EU’s Perspectives” took place in Hanoi on August 19 with over 150 in attendance.

VOV.VN - Prime Minister Nguyen Xuan Phuc on August 19 asked for effective and feasible solutions to minimise COVID-19-caused losses and recover the economy in both short and medium terms.

The management board of the Lao Cai Economic Zone has instructed the local authorised agencies to give priority to the export of dragon fruit through Kim Thanh Border Gate to minimise wasted time and ensure the quality and value of the fruit.

Anticipating difficulties ahead, businesspeople believe that it is not the time to leave the market.

Vietnam’s export is set to grow 5% annually from 2021 to 2025 to reach US$340 billion in 2025, according to the Ministry of Industry and Trade (MoIT)’s plan on socio-economic development for the five-year period.

HCM City has prepared plans to develop 300 cooperatives and five cooperative alliances in the 2021-2030 period, thus reaching the targeted growth of 7 percent in the cooperative economic sector.

The export of many agricultural products, especially industrial crops such as pepper, rubber, tea, and cashew nuts, fell remarkably from January to July due to the COVID-19 pandemic.