Business News

Amid a protracted COVID-19 outbreak, socio-economic data in October showed the contraction has bottomed out and Vietnam's economy has made positive changes, the World Bank (WB) in Vietnam said in its Vietnam macroeconomic update for November released on November 12.

After Resolution 128/NQ-CP took effect on October 11, 2021, pandemic prevention and control across the country entered a new phase and businesses focused on post-lockdown recovery with caution.

Since Vietnam joined the World Trade Organisation (WTO) 15 years ago, the country has made big strides on the path of international integration, confidently joining the global playground. The country's total import-export value increased by 6 times over 2006, reachng 545 billion USD in 2020.

Việt Nam has gained strong growth in trade since it joined the World Trade Organisation (WTO) 15 years ago, according to the Ministry of Industry and Trade (MoIT).

The Regional Comprehensive Economic Partnership (RCEP) Agreement will officially take effect starting January 1 next year, according to the Ministry of Industry and Trade.

Given negative COVID-19 pandemic developments, businesses will continue to face numerous business difficulties in the domestic market and obstacles to import and export activities with other countries, according to Vietnam Report.

Vietnam's exports reached 267.93 bln USD in the first ten months of this year, according to the General Statistics Office.

Addressing the dialogue, Dinh Tien Dung, Secretary of Hanoi Party Committee, said that the city has been able to control the pandemic so far and is establishing a safe and flexible status to respond to any new infections, thereby bringing the city to the new normal.