The International Finance Corporation (IFC), a member of the World Bank Group, announced on August 11 that it will provide a US$70 million loan to Indo Trans Logistics Corporation (ITL Corp), with the aim of improving logistics, trade and competitiveness in Vietnam’s economy amid the COVID-19 pandemic.
Economists have predicted the resurgence of the COVID-19 pandemic could leave Vietnam facing its lowest level of economic growth in 35 years.
VOV.VN - Vietnam needs to reform its trade mechanisms while local businesses are advised to be more proactive to take advantage of the European Union - Vietnam Free Trade Agreement (EVFTA).
VOV.VN - With the EU representing a meticulous market, there is no room for impatient businesses that show a lack of creativity or have poor-quality goods, meaning that local firms must be proactively innovative with their product quality and strive to meet high standards set on goods and services.
VOV.VN - With national demand for electricity growing by an estimated 10.6% in the 2016 to 2020 period, with further growth of 8.5% expected in the 2021 to 2025 period, and an additional 7% in the 2026 to 2030 period, the country is becoming an attractive market for both domestic and foreign energy investors.
VOV.VN - The World Bank and the State Bank of Vietnam on July 30 signed a US$6.2 million grant agreement to strengthen Vietnam’s coronavirus surveillance and testing capacities, research capacity for COVID-19 vaccines, test kits, and communications about the pandemic.
Wise investment in health care is one of the factors leading to Vietnam’s spectacularly effective COVID-19 response, said an article published on the Japan Times on July 26.
A workshop was held in the central city of Da Nang on July 17 to discuss ways to improve the effectiveness of support policies for businesses affected by the COVID-19 pandemic.
From July 1, Mme. Carolyn Turk will work at the World Bank (WB) Hanoi office as its country director in Vietnam, according to the office.
VOV.VN - The World Bank Board of Executive Directors on June 30 approved financing for two projects worth a total of US$422 million to help build a climate-resilient city in the Mekong Delta and improve the quality of Vietnam’s three national universities.
The Mekong Delta city of Can Tho wishes to receive continued support from Switzerland and the World Bank in climate change response, urban development, and tourism-trade-service development, said a local official.
VOV.VN - Prime Minister Nguyen Xuan Phuc expressed his appreciation for the World Bank’s great assistance to Vietnam over the years while receiving outgoing WB Country Director for Vietnam Ousmane Dione in Hanoi on June 22.
Vietnam is like a rising star, meeting all the factors to improve its economic image and attract more foreign investment flows, according to an article published by The Times of India.
VOV.VN - The World Bank and the central coastal province of Phu Yen on June 12 signed a Memorandum of Understanding, establishing a partnership for strategic engagements during the 2020-25 period.
World Bank (WB) Country Director for Vietnam Ousmane Dione said the bank will continue supporting the Southeast Asian country on its development path at a meeting with Politburo member Nguyen Van Binh, head of the Party Central Committee's Economic Commission in Hanoi on June 10.
Overseas remittances sent to Ho Chi Minh City reached US$2.3 billion this year to early June, down 1.9% year-on-year, said the municipal branch of the State Bank of Vietnam.
VOV.VN - Business publication Nikkei Asian Review of Japan has recently released an article, affirming the Vietnam National Assembly’s ratification of the European Union-Vietnam Free Trade Agreement (EVFTA) is expected to transform Vietnam into a fresh investment destination for manufacturers looking for alternatives to China.
VOV.VN - The World Bank Board of Executive Directors on June 5 approved a US$84.4 million IDA credit to support multi-sectoral policy reforms by the Government of Vietnam to promote climate-resilient landscapes and green transport and energy systems.
VOV.VN - After suffering from restrictive measures against COVID-19 in April, the Vietnamese economy is showing signs of recovering in May, with the index of industrial production (IPP) rising by 11% compared to the previous month.
In his blog published on the World Bank website in late May, Jacques Morisset, World Bank Lead Economist and Program Leader for Vietnam, has called the country ‘a bright star in the COVID-19 dark sky’.