Economy

The Ministry of Industry and Trade has denied rumours that it proposed the establishment of a State stabilisation fund to cope with the sudden increase in steel prices that has impacted many businesses.

According to the General Statistic Office, in the first 5 months of this year, the industrial production index of Vietnam increased over the same period in 2020 despite the complicated developments of the COVID-19 pandemic.

Boasting huge production advantages and capitalising on good market opportunities, Vietnam’s furniture sector has stood firm amid COVID-19 and improved its position in the global market and especially in the US.

Though Euromonitor International estimates e-commerce accounted for just 3 percent of Vietnam’s retail market last year, the smallest among Southeast Asia’s major economies.

An online trade exchange programme between Vietnam and Thailand on food and building and interior products was held on June 2 to introduce local products to Thailand and help domestic producers gain broader access to the market.

Standard Chartered announced on June 1 its forecast that Vietnam’s GDP growth would be 6.7 percent this year and 7.3 percent in 2022.

In recent days, African swine fever reappeared in some localities. This causes many concerns for livestock production facilities in Long An province.

A new master plan for seaports is needed to further boost the country’s socio-economic development in the rapid international integration process, experts have said.

After the successful winter-spring rice crop in terms of yield and selling price, at this time, farmers in Long An province are urgently sowing the summer-autumn rice crop with high expectations.

Localities in the Mekong Delta have coordinated with relevant agencies and businesses to ensure the COVID-19 outbreak does not disrupt the supply of essential goods or causes price hikes.

Since the conclusion 720-KL/TU dated March 29, 2019 until now, the People's Committee of Tan An City of Long An province has paid compensation and supported an additional 719 households.

Vietnam raked in 22.83 billion USD from exporting agro-forestry-aquatic products in the first five months of 2021, representing a year-on-year increase of 30.3 percent, reported the Ministry of Agriculture and Rural Development.