News Bulletin 84 - Week 2, October 2021

The past week has seen Vietnam easing more restrictions and the city streets becoming more busy as people start resuming some normalcy in their life. Vietnamese leaders continue to stress and push vaccination as the only solution to overcoming Covid-19, in addition to other health protocols. As the world is transitioning from pandemic to endemic, Việt Nam needs to ensure its vaccination progress and greater adeptness at targeting control measures and support policies to follow suit.

Experts predicted COVID-19 could become endemic which means the virus may never go away but we can turn it into something much less threatening like influenza and live with it safely. This is also Việt Nam’s priority in the coming months.

The past week highlight:

Workers’ incomes reduce remarkably due to COVID-19 pandemic in Q3

The average monthly income of workers in most economic sectors in the third quarter declined compared to the previous quarter and the same period last year, according to the General Statistics Office (GSO).

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Let’s look at some other related financial and business news during the past week:

1. Rapid vaccination and targeted policies key to Việt Nam’s endemic growth

As the world is transitioning from pandemic to endemic, Việt Nam needs to ensure its vaccination progress and greater adeptness at targeting control measures and support policies to follow suit.

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2. HCMC restaurants, coffee chains struggle to reopen

Immediately after HCMC lifted its lockdown this month, beverage chain The Coffee House introduced Fresh Bottle, a new glass bottle designed for easy delivery of its best-selling drinks.

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3. Import-export turnover up over 24 percent

Vietnam's import-export turnover during January-September jumped 24.4 percent year-on-year, according to the General Statistics Office.

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4. Community tourism in need of guests

Villages immersed in silence is a worrying situation in many community tourism areas that are still feeling the brunt of the summer restrictions.

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5. Manufacturers face difficulty in recruiting large numbers of workers

In the last three months of the year, enterprises in the manufacturing and processing industries will be facing difficulties in recruiting a large number of employees.

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6. Prime Minister's decision on special investment incentives promulgated

The Prime Minister has recently promulgated the decision No. 29/2021/QD-TTg on special investment incentives, which provides details guiding the implementation of a number of provisions of the Law on Investment.

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7. Four scenarios for Vietnam’s cloud computing market

The Ministry of Information and Communications is collecting feedback on a draft master plan on information and communications (ICT) infrastructure for 2021-2030 with a vision to 2050, which outlines four scenarios for the growth of the market.

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8. Central bank proposes new law on bad debt settlement

The State Bank of Vietnam (SBV) has proposed to issue a separate law on bad debt settlement.

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9. Asian rice: Vietnam rates extend gains, lower supply propels India prices

Export prices of rice from Vietnam extended gains to a fifth week on Thursday, as high domestic demand continued to keep procurement costs elevated, while limited supplies pushed up rates for top exporter India.

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10. Ho Chi Minh City’s iconic Ben Thanh Market reopens amid relaxed COVID-19 restrictions

Ben Thanh Market, one of the oldest markets and a symbol of Vietnam’s southern business hub Ho Chi Minh City, has resumed operations amid COVID-19 restriction easing after months of lockdown.

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