Vietnam sees positive signs for economic recovery

There were positive signs for Việt Nam's economic recovery in the first month of 2021 amid fluctuations in the world economy, said Prime Minister Nguyễn Xuân Phúc.

The PM made the remarks as he presided over a cabinet meeting yesterday.

Industrial production expanded 22.2 per cent against the same period last year and manufacturing recorded the largest gain at 27.2 per cent. The total trade value was estimated at US$53.9 billion, up 45.2 year-on-year.

The number of newly-established enterprises and disbursement of public investment also increased considerably.

However, drastic measures were needed in response to the economic impact of the surge of COVID-19 community cases, he said.

He emphasised the need to attract more investment from the world’s big corporations.

Conditions should be created for domestic and foreign investors to succeed in doing business in Việt Nam, he said.

"We must continue to run the macroeconomy well, stably, create confidence in both the economy and the health sector," the Prime Minister said.

“It is necessary to promote three new economic spaces, namely the domestic economy with a market of nearly 100 million people, the international economy with many free trade agreements and the digital economy.”

As the Tết (Lunar New Year) is approaching, the Prime Minister said it was a must to ensure that the people, especially those in natural disaster-hit areas, remote ones and those in pandemic lockdown, enjoy a happy holiday.

Ministries, agencies and localities were asked to review the preparation to assure an abundance of goods, safety and prices under control.

The PM also underlined the need to propose solutions to promote strong development after Tet.

Addressing the meeting, Nguyễn Thanh Long, Minister of Health said the strain of the virus spreading now was highly contagious and with a shorter incubation time. The rate of spread is 70 per cent higher than that of the previous virus strain, he said.

As soon as it was discovered, the ministry has provided timely support to Hải Dương Province and the testing capacity of the province has been enhanced substantially, Long said, adding that Chí Linh City has been locked down promptly.

The minister proposed the Government continue seriously implementing the Prime Minister's Directive No 05 on pandemic prevention and control.

Because infection was mainly through the air, wearing a mask was mandatory for all people when going out.

It was necessary to avoid gathering in crowds, especially events in enclosed spaces.

Pandemic prevention and control work should be enhanced in industrial zones, factories and apartment buildings. Medical declarations should be used while unnecessary festivals should be cancelled.

Local authorities were ordered to strengthen capacity to take samples and collaborate with each other to quickly detect F1 cases.

Illegal entry to the country should be prevented, Long said.

Up to 270 community infection cases have been recorded in 10 provinces and cities since January 27.

Although the pandemic might still be complex, it had been basically controlled, the PM  said.

The PM attributed the result to the work of the Government, the National Steering Committee for the COVID-19 Prevention and Control, the Ministry of Health, agencies and localities who had used drastic measures and guidelines including zoning, tracing, extensive testing and quarantining.