After the Covid-19 earthquake and a historical contraction, China is rebounding, whereas advanced economies face a depression-like plunge. The consequent tsunami is about to hit Southeast Asia.

The Asean Business Advisory Council (Asean-BAC), in pledging to work closely with Asean nations in their fight to contain Covid-19, has called on their leaders to take urgent measures to ensure there are uninterrupted production and supply chains of essential food and beverage.

The economic impact of COVID-19 is longer and more intense than thought, and we have again lowered our macro forecasts. We now see global GDP falling 2.4% this year, with the U.S. and eurozone contracting 5.2% and 7.3%, respectively. We expect global growth to rebound to 5.9% in 2021.

The International Monetary Fund has forecast Vietnam’s GDP to grow at 2.7 percent this year, higher than that of its regional peers.

The European Union (EU) – Việt Nam Free Trade Agreement (EVFTA) will officially take effect for both the EU and Việt Nam after the National Assembly ratifies and the two sides complete the notification procedures under the agreement.

The novel coronavirus (COVID-19) pandemic has had negative impacts on the domestic wooden processing industry, but this is also an opportunity for timber enterprises to review their production and business methods maintain stability at present and drive for sustainable development in the future.

The Trade Remedies Authority of Việt Nam has announced the list of 12 products which are at risk of being investigated for trade defence measures or origin fraud and illegal conveyance

Most economic industries, including garment and textile, have been hit hard by the COVID-19 outbreak. When the epidemic broke out in China, Vietnamese garment and textile businesses faced interruption in the supply of raw clothing materials from China.

While the difficulties facing Vietnam in securing materials for production have subsided as China and the Republic of Korea have essentially contained the coronavirus epidemic, new challenges have arisen when the epidemic spreads to the EU and the US, two major importers of Vietnamese goods.

It expects Singapore economy to shrink 3.5% this year, with a recovery to 3% growth in 2021