Netherlands-Vietnam Chamber of Commerce (NVCC)

Vietnam’s economy weathers the COVID-19 storm — good policy or luck?

Source: Suiwah Leung, ANU , East Asia Forum, 6 October 2020

Vietnam’s economy and people are often described as ‘resilient’. Nowhere is this more befitting than in relation to the COVID-19 pandemic. After successfully tackling COVID-19, Vietnam still recorded 1.8 per cent GDP growth during the first half of 2020 despite negative growth in most parts of the world.

According to the World Bank’s July 2020 Taking Stock report, Vietnam’s recent economic performance is a result of its twin engines of growth — export demand and domestic consumption — firing sequentially during the first two quarters of 2020.

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Vietnam continues its miracle through higher education

Source: James Borton, Modern Diplomacy, 13 October 2020

Vietnam’s declaration to open up,in mid-June 2020 was hailed around the world as a model in the fight against the Covid 19 pandemic. For Mali student, Aolama Mallé and his classmates, the announcement was more than good. They are students of the International Francophone Institute (IFI), a member of Vietnam National University, the largest higher education system in the country. As universities re-opened, they could now return to the traditional face-to-face classroom learning with professors and friends since all were weary from boring e-learning and the draconian pandemic control measures imposed by the government.

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Vietnam: ASEAN’s New De Facto Leader?

Source: Try Ananto Wicaksono, The Asian Post, 17 October 2020

Vietnam, as the current Chair of the Association of Southeast Asian Nations (ASEAN) for 2020, has been actively involved with the association since 1995 when it joined the bloc with the aim of bringing all Southeast Asian countries together to promote regional peace, freedom, and prosperity. 

Vietnam has been making great strides in projecting itself as an effective leader, particularly with its proactive governance in handling the COVID-19 pandemic, climate change policy, and for its political stability. There has been recent speculation regarding Vietnam taking-up the role as new de facto leader of ASEAN. 

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VEIL: Covid confirms Vietnam as manufacturing power

Source: Investment trust Insider, 14 Oct 2020

Vietnam has continued to strengthen its presence in Asian manufacturing this year, suggesting increasing interest in ‘reshoring’ presents little threat to the country’s frenetic growth, Dragon Capital’s Dominic Scriven has said.

The coronavirus pandemic has focused executives on supply chain security, a theme that had already been nurtured by the ongoing US-China trade war, opening up the possibility of more manufacturing moving back to western economies.

The founder of Dragon Capital, which runs £983m investment trust Vietnam Enterprise Investments (VEIL), was clear that Vietnam’s prospects would be damaged if globalisation reversed. The trust enjoyed its 25-year anniversary last month, making the managers one of the oldest and largest foreign investors in the country, having set up shop after former US President Bill Clinton lifted US trade embargo in 1994.  

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Why hybrid grouper could catch on with Vietnam’s fish farmers

Source: the Fish Site

Fish farmers across Vietnam have begun producing hybrid grouper, saying that the species’ high growth rate and favourable market price make it a profitable alternative to shrimp farming.

A new research article published in the journal Aquaculture highlights the emergence and mini boom of Vietnam’s hybrid grouper industry. Though relatively new to commercial aquaculture, hybrid grouper farmers report that the fish is one of the most valuable commodities they produce, generating more profit for farmers than other mainstays of Vietnamese aquaculture like carp or cobia. For grow-out operations, producers report that hybrid groupers have generated more total farm income than any other species they farm. This trend held for farms across all income levels.

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Vietnam creates new nature reserve, possible home to elusive ‘Asian unicorn’

A view over the area that is now Khe Nuoc Trong Nature Reserve and the nearby Bac Huong Hoa Nature Reserve, photographed in 2017. Image by Viet Nature Conservation Centre/Pham Tuan Anh.

Source: Mandabay

  • Conservationists have hailed the establishment of the new Dong Chau-Khe Nuoc Trong Nature Reserve as a major step for the protection of Vietnam’s wildlife.
  • The new reserve is home to a number of threatened species, including two species of muntjac deer (Muntiacus vuquangensis and M. truongsonensis), the Annamite striped rabbit (Nesolagus timminsi), the Sunda pangolin (Manis javanica), the southern white-cheeked gibbon (Nomascus siki), the red-shanked douc langur (Pygathrix nemaeus), and the crested argus (Rheinardia ocellata), which resembles a peacock.
  • Conservationists debate whether it may also shelter the saola (Pseudoryx nghetinhensis), a mysterious antelope-like bovine so rare it has been called the “Asian unicorn.”
  • Critical threats such as poaching and deforestation remain, however, and conservationists say enforcement of new protective measures will be key to the reserve’s success.

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Vietnam conservation regulations improving, but much work remains

A critically endangered douc langur (genus Pygathrix) in Vietnam. The animals are sold as pets or for medicine or meat. Image by Rhett A. Butler/Mongabay.

Source: Mongabay

  • Vietnam made headlines earlier in the year for considering a wildlife trade ban in response to COVID-19, but such a development has not occurred.
  • Nonetheless, the country’s laws related to biodiversity conservation are robust and generally comprehensive, with strong penalties for violations in place.
  • But enforcement remains a problem, while corruption and other issues also hinder improved protection of Vietnam’s wildlife.
  • Conservation organizations have been heartened by recent legal and regulatory improvements, but caution that there is still a long way to go.

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Worldbank report on Vietnam

Source: Worldbank

Vietnam’s shift from a centrally planned to a market economy has transformed the country from one of the poorest in the world into a lower middle-income country. Vietnam now is one of the most dynamic emerging countries in East Asia region.

Click here for the Worldbank report on Vietnam.