Day: February 14, 2022

An article recently published on the East Asia Forum site assessed prospects and challenges facing the Vietnamese economy this year.

Per the article, 2021 was a tough year as shutdowns made life difficult and GDP slowed to 2.6 percent. Increasing supplies of vaccines eventually allowed more normal activities in the last few months of the year. Vietnam’s GDP shrank 6 percent in the third quarter before bouncing back in the fourth quarter.

According to the author, despite factory closures, exports rose 19 percent in 2021 to an astonishing 336 billion USD, while GDP was only 271 billion USD in 2020 and grew only slightly in 2021. The high level of foreign direct investment (FDI) did not grow nor shrink much.

The article noted that prospects for Vietnam in 2022 are good. As factories and services approach normal, there will be a jump in output. Most projections are for 6–7 percent real GDP growth. Tourism should start to recover from its over 95 percent decline from 2019 levels. Exports should grow about 15 percent and the trade balance will remain modestly positive. Inflation will remain low and the VND will continue to appreciate slightly against the USD.

The author also pointed out that one side effect of Vietnam’s rapid export growth has been a lag in domestic value-added in exports. Much of the work has been simple assembly rather than the development of a dense network of supplier industries that would make the FDI ‘stickier’ as wages rise and labour supplies tighten. The COVID-19 pandemic slowed progress on this front, as fewer new enterprises opened and many more temporarily closed. Many firms that are still in business are financially weaker and will need time to accumulate resources to improve machinery, training and marketing.

Source: Vietnam News Agency

The number of new COVID-19 cases in Singapore may reach 15,000-20,000 per day, given that the Omicron variant is highly transmissible, Minister for Health Ong Ye Kung has said.

He added that the recent rise in COVID-19 cases was predictable.

Singapore reported 10,505 new COVID-19 cases on February 12, marking the fourth day last week that daily infections had exceeded the 10,000 mark. It also reported eight deaths linked to the virus, the highest rate in the past two months.

Despite the increase, Ong noted that the city-state’s healthcare system is still holding up.

According to the minister, the number of patients that require oxygen remains at 0.3 percent. The number of patients that needed ICU or unfortunately passed away is about 0.05 percent.

As of February 12, Singapore had recorded 460,075 COVID-19 cases and 893 deaths linked to the virus since the start of the pandemic.

Source: Vietnam News Agency

Cambodia is set to resume the trial of former opposition leader Kem Sokha on February 16 after postponement due to his lawyer reportedly contracting COVID-19.

The Spokesman of the Phnom Penh Municipal Court and Deputy Prosecutor, Plong Sophal, told local media that the hearing will continue at 8:30am on February 16.

Earlier, Cheng Penghap, one of Sokha’s lawyers, was diagnosed with COVID-19 during a check-up.

Kem Sokha, former President of the dissolved Cambodia National Rescue Party (CNRP), was charged with conspiracy with foreign power to topple the Royal Government of Cambodia. If convicted, he may face up to 30 years in prison.

Sokha was arrested over treason charges at his home in Toul Kork district of Phnom Penh on September 3, 2017 and released on bail after that. He has been under the court’s monitoring and banned from conducting any political activities since then. In November 2019, the Phnom Penh Municipal Court reduced some bail conditions for him.

Source: Vietnam News Agency

The International Monetary Fund (IMF) has forecast that Malaysia’s real gross domestic product (GDP) growth will accelerate to about 5.75 percent in 2022.

According to the IMF’s 2022 Article IV Mission with Malaysia, the economy is set for a gradual recovery, thanks to the authorities’ impressive vaccine rollout and swift implementation of economic policy support measures. The recovery nevertheless remains uneven, with sizeable economic slack, and substantial medium-term pandemic-related risks.

The IMF team recommended additional near-term targeted fiscal support towards vulnerable and hard-hit segments of the economy and productive investments.

The country’s inflation, meanwhile, is projected to stabilise at about 2.5 percent despite transitory supply-chain challenges.

Last year, Malaysia grew 3.1 percent, with the Government expecting this year’s growth at between 5.5 and 6.5 percent.

Source: Vietnam News Agency

The Ministry of Natural Resources and Environment of Laos has adopted new measures to curb greenhouse gas (GHG) emission to zero by 2050.

Deputy Minister Phouvong Luangxaysana was quoted by Vientiane Times newspaper as saying that the ending of CO2 emission into the atmosphere is not easy.

However, the ministry plans to expand the country’s green space to 70 percent of its land area to have more trees to absorb CO2 emitted by industrial activities and other processes, he said.

According to website edgeportal.worldbank.org, Laos has a low capacity to adapt to climate change due to its socio-economic underdevelopment.

From 1970 to 2010, Laos recorded 33 natural disasters (mainly floods and droughts), affecting nearly 9 million people and causing the country a loss of over 400 million USD.

Source: Vietnam News Agency

Nguyen Danh Quang will represent Vietnam at the Super Ball 2022, which is scheduled to take place in the Czech Republic this August.

The event is dubbed the biggest and most prestigious open competition of freestyle football in the world.

Quang, born in 1994, triumphed at the recent Tet Freestyle Football 2022 in Hanoi, with two categories of Routine and Battle. He received a cash prize of 500 USD, a trophy and a berth at the Super Ball.

Meanwhile, Nguyen Anh Tuan, aged 24 and Vu Ngoc Nam (20), were awarded the second and third prizes.

The Tet Freestyle Football was first initiated by winner of the Asian Freestyle Football Championship 2013 Do Kim Phuc, with a hope to promote the sport in Vietnam. At this year’s competition, jerseys of forward Nguyen Tien Linh of the national men’s team and midfielder Nguyen Thi Tuyet Dung of the women’s squad were auctioned. Proceeds totalling 110 million VND (4,840 USD) will be transferred to a fund supporting disadvantaged athletes.

Source: Vietnam News Agency

Vietnam takes part in the AFF U23 Championship fielding their younger, under 21 squad, but still aim for the highest possible finish at the tournament in Phnom Penh, Cambodia.

The championship runs from February 14 to 26. Vietnam are in Group C with Thailand and Singapore. Group A has East Timor, the Philippines, Brunei and the hosts. Group B includes Malaysia, Myanmar and Laos.

The top team of each group and the second-placed team with the best results will advance to the semi-finals.

“Like other teams, Vietnam has also prepared pretty well for this competition,” said coach Dinh The Nam.

“We have trained for a month. And we will target the highest possible place.

“I have confidence in the front line but the defence is not quite good enough. Defenders are not totally focused and still lack confidence.

“It is the first time playing internationally for some of my players. We must push their confidence up, We still have several days to improve the team ahead of the first match.”

Nam, who led Vietnam’s U16 team to the Asian championship’s quarter-finals in 2016, said the team will have to be at their best in every single match to advance to the final.

He said: “They are U21s and maybe not the best for this tournament. We are not asking them to get the title but through the tournament, we will find players for the U23 team that will compete at the 31st SEA Games. And these U21s will represent Vietnam at the 32nd Games in Cambodia in 2023.”

Vietnam will play their first match against Singapore on February 19 at the Prince Stadium in Phnom Penh.

“We will also watch the match between Singapore and Thailand (on February 16) and try to understand their playing style and find their weak points. And then, we will have suitable tactics against both of them,” Nam said.

Defender Dung Quang Nho also is hoping to last as long as possible in the tournament and play in the final.

Nam added: “Vietnam Football Federation does not expect for us to win this championship. But we have still worked really hard without Tết holiday rest. We aim to play our best in all matches before going home.”

Speaking at the briefing yesterday morning, Thailand coach Salvador Garcia said his team, which includes players from the U19 squad, were at their best after weeks of training.

Garcia said the tournament would be a good chance for the youngsters who hope to advance to the knockout stage.

He added that they would first focus on the Singapore match before analysing Vietnam for the next match.

Coach Nazri Nasir of Singapore said his team is in tough group. He is missing some of their best players who could not join the team due to the COVID-19 pandemic. But Singapore prepared well for this event which is a warm-up of the SEA Games in May.

Prior to the briefing, organisers announced defending champion Indonesia withdrew from the tournament because of the COVID-19 and injury problems.

Football Association of Indonesia confirmed the decision not to participate after seven players and one team official tested positive for coronavirus, with another four members of the squad at risk after being in close contact from sharing rooms.

In addition, three other players — Gunansar Mandowen, Ramai Rumakiek and Muhammad Iqbal — were already injury doubts heading into the tournament.

Earlier, coach Brad Maloney of Malaysia said his defender Muhammad Safwan Mazlan would miss the first match against Myanmar on February 15 because of a positive test result.

Vietnam landed in Phnom Penh with 27 players who all tested negative.

Another Vietnamese to work in Cambodia is referee Ngo Duy Lan.

Lan, 37, is one of three FIFA-leveled officials of Vietnam and the only one who reached the elite certificate, the highest stage in referee ranking.

Source: Vietnam News Agency