Socio economic projects

The top legislator highlighted the committee’s performance in law-making during the 14th tenure, as seen in its chairing of the verification and submission of 13 draft laws, including eight amended and supplemented laws and five new laws, to the NA for consideration and approval. Among them, the law amending and supplementing certain articles of the Law on Credit Institutions, and the NA’s Resolution No 42/2017/QH14 on piloting the settlement of non-performing loans at credit institutions were milestones in legislative activities during the 14th tenure as they have been swiftly enforced in reality, he noted. Meanwhile, he went on, the legal system on investment and business has been increasingly reformed and perfected, with the issuance of the Law on Investment, the Law on Enterprises, the Law on Investment in the form of Public-Private Partnerships, and the Law on Securities. The committee’s verification reports have also been of higher quality and more persuasive, NA Chairman … [Read more...] about NA Chairman commends Economic Committee’s law-making performance

PHNOM PENH (Xinhua): Amid the raging Covid-19 pandemic, Cambodia's economy in 2020 registered its slowest growth since 1994. However, the country's growth is projected to rebound 3.5 per cent this year, thanks to its newly-signed bilateral free trade agreement with China and the Regional Comprehensive Economic Partnership (RCEP). A government report showed that the Southeast Asian nation's economy shrank 1.9 per cent last year, to US$27.6bil. Despite the pandemic, Cambodia's total trade volume reached $35.8 billion in 2020, up 2.5 per cent from a year earlier. The GDP growth in 2021 is forecast to rebound 3.5 per cent this year, said the government report. Cambodia has been fighting a third wave of Covid-19 community transmission since Feb 20. The kingdom logged 508 new cases on Tuesday (April 27), pushing the national count to 11,063, with 82 fatalities, said the Ministry of Health. Currently, there are 7,270 active cases in the country. To mitigate the socio-economic impacts … [Read more...] about Cambodia expects China, RCEP to help boost economic recovery

Positive growth thanks to effective anti-epidemic strategy The Asian Development Outlook (ADO) report, released on April 28, states that the Vietnamese economy still grew in 2020 despite the COVID-19 pandemic and the ensuing downturn in global growth. Accordingly, the Government's effective anti-epidemic and socio-economic development measures managed to largely insulate the economy from the COVID-19 pandemic in 2020, GDP growing by 2.9% – one of the highest growth rates in the world. In particular, economic bright spots worthy of mention were agriculture, growing by 2.7% in 2020 from 2.0% in 2019, the sector buoyed by proactive export promotion; structural transformation (for example, shifting from rice to high-value cash crops and livestock); and a dynamic private sector. Agriculture contributed 0.4 percentage points to GDP growth last year – a strong performance given the severe floods and drought, increased salinity intrusion, and a sharp drop in external demand, reported the … [Read more...] about Vietnam’s economic growth to bounce back strongly in 2021-2022

The Ministry of Finance (MoF) reported that in the first three months of this year, the total disbursement of public investment in Vietnam was low, VND60.75 trillion (US$2.64 billion), hitting 11.95% of the initial plan and 13.17% of the plan assigned by the prime minister. In which, foreign-funded capital disbursement sat at merely 0.66%. Many ministries and localities achieved high disbursement rates, including Thai Binh (43.24%), Bac Ninh (30.2%), Hung Yen (28.67%), Thanh Hoa (27.79%), and Ha Nam (27.63%), and the Ministry of Public Security (31.62%). Up to 31 ministries, central agencies, and localities have yet to boost disbursement of this type of capital. The main causes behind this grey situation is that, according to the MoF, in the first quarter, ministries, central agencies, and localities were focusing on disbursing capital of 2020 which has been transferred to 2021. Thus the disbursement rate of capital in 2021 has been generally low. In addition, a number of big … [Read more...] about Boosting disbursement of public investment fuels economic growth

Representatives from Gojek Viet Nam, the HCM City Women Cultural House, and Cafetek HTV sign a a Memorandum of Understanding on the launch of the 2021 “So no one is left behind” project in HCM City on May 5. — Photo courtesy of Gojek Viet Nam The “So no one is left behind” project in HCM City provides vocational training and expertise to family members of Gojek driver partners and helps them set up digital businesses. Gojek Vietnam, a leading mobile on-demand services platform, on Wednesday (May 5) announced a Memorandum of Understanding with the HCM City Women’s Cultural House under the HCM City’s Women Association, and CafeTek, a production of HCM City Television (HTV), on the latest phase of the “So no one is left behind" project. The project aims to create new opportunities for people to earn an income and improve their livelihood, and reduce barriers to socio-economic growth. The project is part of Gojek’s GoForward initiative, a key pillar of the company’s sustainability … [Read more...] about ‘So no one is left behind’ project helps locals start online F&B businesses