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Publication
World Bank East Asia and Pacific Economic Update, October 2022: Reforms for Recovery
(Washington, DC : World Bank, 2022-10) World BankGrowth in most countries in the East Asia and the Pacific (EAP) region rebounded in the first half of 2022, but China lost momentum. In much of the region, domestic demand revived after the distress of the COVID-19 Delta wave. In China, the public health measures to contain outbreaks of the highly infectious Omicron variant inhibited consumption. Most of the region is projected to grow faster and have lower inflation in 2022 than other regions. Beyond the end of 2022, three factors could be a drag on growth: global deceleration, rising debt, and policy distortions. Current measures to contain inflation and debt are adding to existing distortions in the markets for food, fuel and finance in ways that could hurt growth. In each case, more efficient measures could address current difficulties without undermining longer-term objectives. -
Publication
Enterprising Women: Toward Equal Business Opportunity in Southeast Asia
(Washington, DC, 2022-08-30) World BankThis report explores gender differences in entrepreneurship for micro, small, and medium enterprises (MSME) in Southeast Asia. It analyzes data from five Southeast Asian countries: Cambodia, Indonesia, Lao People’s Democratic Republic (Lao PDR), Timor-Leste, and Vietnam, and reviews existing evidence from across the region. Using data from household and firm-level surveys, the report establishes stylized facts about gender gaps in participation in entrepreneurship and in business performance for two types of businesses: microbusinesses and small and medium enterprises (SME). Microbusinesses include businesses with less than 5 employees, and SMEs include businesses with between 5 and 100 employees. This study focuses on MSMEs because they account for 97 percent of all enterprises in Asia-Pacific Economic Cooperation countries and because the owner’s gender may have a greater influence on the outcomes of MSMEs than large businesses, which are more likely to have multiple owners or be part of a larger corporation. After establishing stylized facts about gender gaps in entrepreneurship, the report employs various econometric. techniques to understand better the factors that are associated with these gaps. Finally, the report makes a case for policy action and presents a review of global evidence on how these factors are best addressed. -
Publication
Taking Stock, August 2022 : Educate to Grow
(Washington, DC, 2022-08) World BankAs the two-year Coronavirus (COVID-19) crisis appears to wane, new economic shocks have cast shadows over the global economy heightening uncertainty about the short-to-medium path to recovery. The supply shock associated with the war in Ukraine is expected to blunt the promising economic recovery around the world and has raised the specter of stagflation in advanced countries, leading to tightening conditions in global financial markets. Measures undertaken by China to control the spread of the Omicron variant of COVID-19 are also impacting its growth and the performance of global value chains. Additional risks threaten the recovery prospects of the global economy. New COVID-19 variants continue to be a severe risk, and as people around the world grow weary of pandemic-measures, this ‘fatigue’ could hamper attempts at controlling the spread. Vietnam’s economy is rebounding after two bruising years but faces domestic challenges and an unfavorable external environment in the short-to-medium-term. High vaccination rates facilitated the re-opening of the Vietnamese economy after the lockdowns of Q3-2021. Chapter 1 of this Taking Stock report reviews the recent developments in Vietnam’s economy and assesses its short-to-medium term prospects. It examines the country’s growth performance, its external balance, and monetary and fiscal policy responses during the first half of 2022. Chapter 2 reviews the performance in tertiary education access and outcomes. -
Publication
Vietnam Country Climate and Development Report
(Washington, DC: World Bank, 2022-07-01) World Bank GroupLike most countries in the world, Vietnam is increasingly seeing its development affected by climate change. With a coastline of 3,260 kilometers that includes major cities and production sites, Vietnam is highly exposed to sea-level rise. Climate change impacts on the Vietnamese economy and national welfare are already significant—about 3.2 percent of gross domestic product (GDP) in 2020—and they are expected to escalate rapidly even if greater efforts are made to mitigate future climate change around the world. Vietnam has historically had very low greenhouse gas (GHG) emissions, but over the past two decades, it has seen some of the fastest emissions growth rates in the world. From 2000 to 2015, as GDP per capita increased from $390 to $2,000, per capita emissions more than quadrupled. Vietnam’s GHG emissions are associated with toxic air pollution in many of its cities today, with implications for health and labor productivity. At the UN Climate Change Conference in Glasgow in November 2021 (COP26), the Prime Minister made several commitments, including an ambitious target of reducing emissions to net zero by 2050. Vietnam’s increased attention to climate change and the environment reflects the growing economic costs of resource depletion and climate impacts, which have already started to harm trade and investment— two key drivers of the nation’s robust growth and job creation in recent decades. Vietnam now faces critical questions about how to respond to climate change: How intensively should it work to adapt to previous and predicted damages caused by climate change, given the uncertainty of global mitigation efforts? How much will it cost to reduce GHG emissions? How can the private sector be mobilized to help achieve Vietnam’s climate goals? Are there trade-offs between adaptation and mitigation investments? Are there trade-offs between economic growth, poverty reduction, and climate action, and how can they be managed? Which sectors and regions should be prioritized? What are the distributional implications of a low-carbon, climate-resilient growth path? The Vietnam Country and Climate Development Report (CCDR) investigates these questions. One of the first in a series of country-level diagnostics produced by the World Bank Group (WBG) under its 2021–2025 Climate Change Action Plan, the CCDR examines the adaptation and mitigation challenges faced by Vietnam. It pays special attention to policy trade-offs and provides recommendations to help policy makers prioritize among a range of options, recognizing uncertainties about future climate change impacts and the availability of technology and financing. -
Publication
Spearheading Vietnam’s Green Agricultural Transformation: Moving to Low-Carbon Rice
(Washington, DC, 2022) World BankThis report focuses on promoting low-carbon rice production systems in Vietnam. There are many sources of greenhouse gas (GHG) emissions within the agricultural sector in Vietnam, including along value chains and within the whole agri-food context. However, because rice production is so important to the country and to emission reductions in agriculture, this report focuses on known actions that can be rapidly upscaled, along with other complementary actions to reduce GHG emissions from rice production systems. The report covers emission reduction pathways in rice. This report assesses agronomic and other options that offer technically and economically feasible pathways to promote low-carbon rice. Some options have been piloted in Vietnam and require significant upscaling at the farm-level. This report considers challenges and practical actions and policy reforms to address these challenges for Vietnam’s low-carbon transition (LCT) in rice. -
Publication
From the Last Mile to the Next Mile – 2022 Vietnam Poverty & Equity Assessment
(Washington, DC, 2022) World BankVietnam is a country on the move and in transition. Indicators are pointing in the right direction, with many positive economic and social developments. The amount of progress that Vietnam has achieved in less than half a century since emerging from a war has been nearly without parallel. At the same time, Vietnam is a lower-middle-income country facing a challenging and uncharted road ahead to reaching upper-middle and high-income country levels in a shifting global economic and climatic landscape. In less than half a century since the end of the Vietnam War and thirty-five years since the Doi Moi reforms, Vietnam has become a vibrant economy and a sought-after market to the outside world. At the same time, despite remarkable progress, poverty remains a key concern among the population. Concerns over poverty amid high economic growth are not inconsistent; together they illustrate an absolute and inclusive rise in living standards, but also a population that seeks economic security and aspires for more. This Vietnam poverty and equity assessment is organized into two parts motivated by addressing both Last Mile and Next Mile issues: Part I reviews poverty and inequality trends over the last decade, 2010–2020; and Part II assesses opportunities for and challenges to Vietnam’s path to achieving its Next Mile aspirations and creating greater prosperity for households and workers. -
Publication
Market Study for Vietnam: Plastics Circularity Opportunities and Barriers
(World Bank, Washington, DC, 2021-09-28) World Bank GroupVietnam's public and private sector stakeholders are increasingly active in addressing plastics waste. The Vietnam Government has set ambitious national plastics waste management goals to combat the economic and environmental consequences of mismanaged plastics waste nationally. This study uses a plastics value chain approach to evaluate Vietnam’s plastics recycling industry and its role in supporting a circular economy. -
Publication
World Bank East Asia and Pacific Economic Update, October 2021: Long COVID
(Washington, DC: World Bank, 2021-09-27) World BankThe East Asia and Pacific (EAP) region is suffering a reversal of fortune. In 2020, many EAP countries successfully contained COVID-19 and economic activity swiftly revived as other regions struggled with the pandemic and economic recession. Now the region is being hit hard by the COVID-19 Delta variant while many advanced economies are on the path to economic recovery. The disease is damaging the economy and is unlikely to disappear in the foreseeable future. In the near term, the persistence of the pandemic will prolong human and economic distress unless individuals and firms can adapt. In the longer term, COVID-19 will reduce growth and increase inequality unless the scars are remedied and the opportunities grasped. Policy action must help economic agents to adjust today and make choices that avert deceleration and disparity tomorrow. -
Publication
World Bank East Asia and Pacific Economic Update, April 2021: Uneven Recovery
(Washington, DC: World Bank, 2021-03-25) World BankA year after the first case was confirmed in Wuhan COVID-19 is proving hard to suppress even, while the emergence of more transmissible variants of the variant poses new challenges to the containment of the disease globally. The economies of the region began to bounce back in the second half of 2020. However, only China and Vietnam have followed a V-shape recovery path with output surpassing pre-COVID-19 levels. Most of the other countries have not seen a full-fledged recovery in terms of either output or growth momentum. Economic performance across countries continues to depend on (i) the efficiency with which the virus is contained; (ii) the ability to take advantage of the revival in international goods trade; and (iii) the capacity of governments to provide fiscal and monetary support. China and Vietnam are expected to enjoy strong growth in 2021, whereas other economies in the region will grow more gradually. Many economies, especially in the Pacific islands are not expected to reach pre-COVID-19 levels of output until 2022 or later. Governments in the region need to work cooperatively to address three key issues: (i) a regional and global distribution of vaccines that minimizes the risk of a continued spread of COVID-19 and its variants; (ii) continue to provide economic support to their economies while carefully evaluating the trade-offs between the need for further stimulus and debt sustainability; and (iii) enact policies and prioritize investments that protect against climate risk to ensure sustainable economic growth. -
Publication
RICH Food, Smart City: How Building Reliable, Inclusive, Competitive, and Healthy Food Systems is Smart Policy for Urban Asia
(World Bank, Washington, DC, 2021-03-03) Acharya, Gayatri ; Cassou, Emilie ; Jaffee, Steven ; Ludher, Elyssa KaurAcross Asia, cities are contending with a wide range of food-related issues but most lack a dedicated or coherent set of food policies. For most cities in Asia, food has been a policy and governance blind spot, while national food policy has distinctly lacked an urban perspective. Arguing that food system outcomes are central to the topmost priorities of Asian cities, RICH Food, Smart City calls for cities of all sizes to “get smart to get RICH”—that is, to pursue food policies that foster reliable, inclusive, competitive, and healthy (“RICH”) food systems, better aligned with cities’ contemporary challenges and aspirations. Based on the first systematic survey of urban food policies in 170 Asian cities in 21 countries, RICH Food, Smart City finds that only 8 percent of surveyed cities are “food-smart” and intervene in the food system in ways that are forward-looking, holistic, and inclusive. Nearly three-fourths are either at an early stage of effective engagement or fully in reactive mode, responding to problems as they emerge. Even before the COVID-19 crisis, the need for coherent multisectoral strategies and coordinated action was becoming apparent. The pandemic has now drawn attention to the essential functions of urban food supply chains and businesses and further exposed the vulnerability of urban populations to food insecurity, zoonosis, and foodborne disease. But the crisis has also shown us the potential of the food economy, through its displays of resilience coming from informal marketing channels and budding e-commerce networks and capacities. Rich Food, Smart City illustrates how Asian cities and urban leaders can take on vital food system issues, including food security, diet quality, environmental sustainability, and climate neutrality; and how building RICH food systems can help cities pursue their goals. The book will be of interest to urban planners, policy makers and leaders at the city and national levels, as well as to food system and development practitioners, and others interested in urban food policy and governance.