Amid the sudden Covid-19 outbreak hitting the global economy hard, the government of Vietnam has made great efforts to support domestic businesses to overcome the difficult period. Many investment projects have been carried out and accelerated, which is a good sign, proving the strong economic recovery after a quiet period because of the pandemic.
Why is it necessary to create new momentum for Vietnam's economic rebound?
According to the International Monetary Fund (IMF) forecast, the global economy will decline this year, and this recession is even worse than the 2008 financial crisis.
Vietnam is also not out of the picture as the supply chain and trade flows are interrupted and production and business activities are suspended. A report of the Ministry of Planning and Investment shows that the health of Vietnamese enterprises is facing a great challenge. Many companies, household businesses and cooperatives have suspended or narrowed down their operations, reducing revenue by 40-50%. The sustainability of many businesses has been challenged, as about 34,900 enterprises had to withdraw from the market.
Facing this situation, at an online conference with ministries and localities in the middle of April 2020, the Prime Minister stressed that there must be a solution to remove difficulties for production and business, promote disbursement of public investment, protect people’s wellbeing, and ensure social order and safety. At the same time, it is necessary to seriously create "pushes" in many areas to help businesses recover and rebound strongly to make up for the lost time.
Positive signals from healthcare investment
Long An Obstetrics and Pediatrics Hospital - a typical project of Vietnam’s model of private healthcare development.
During the crisis caused by the Covid-19 pandemic, once again the issue of improvement in healthcare services and medical infrastructure was paid more attention. Therefore, investment projects in this field are also accelerated to timely meet practical needs.
For example, Long An Obstetrics and Pediatrics Hospital is a typical, pioneering project of the private healthcare model, launched in late February in Long An Province. Under the investment and operation aiming to meet international standards of Technology World Group (TWG), this 500-bed hospital has completely upgraded with modern medical equipment systems from the world's renowned brands and a team of doctors and medical staff from leading hospitals in Ho Chi Minh City specializing in obstetrics and pediatrics. The hospital is now being urgently completed to put into operation in the near future.
Besides, another large-scale hospital is being established at the western gateway of Ho Chi Minh City. This Project, also invested by TWG with LB Vietnam – strategic partner being the official construction contractor, will be started in late May 2020. This is the first time Tan Phu District has a private general hospital with a capacity of 350 beds and a total investment of nearly VND1,000 billion.
LB Vietnam - the official construction contractor of TWG for the hospital project at the western gateway of Ho Chi Minh City.
The establishment of this hospital will help solve the problem of limited healthcare services in the gateway area of the city. In addition to sharing the burden with the public health system, the hospital also meets the needs of people in neighboring provinces including Long An, Tien Giang, Tay Ninh or even the neighboring country of Cambodia, thereby attracting investment and changing the face of the city’s western part.
Mr. Le Cao Minh, General Director of TWG, commented: “From the right direction of the Government, TWG has been motivated to accelerate the process to put Long An Obstetrics and Pediatrics Hospital into operation, serving the people of the province and nearby. Most recently, TWG has also endeavored to carry out the general hospital project in the western area of Ho Chi Minh City, since receiving the investment approval decision in March 2019 and the construction permit in April 2020. “TWG is excited because it is one of the few companies that can maintain their current performance amid the epidemic which is strongly affecting the economy today. This also demonstrates TWG's strategic and thorough orientation in developing social service infrastructure and bringing practical values to the community.”
TWG is a multi-industry corporation with more than 14 years of experience in the fields of Geological Survey and Consulting, Construction, Education and Healthcare. Its brand reputation is guaranteed through key projects such as National Assembly Building, Thu Thiem II Bridge, Hanh Phuc residential area, Stella Mega City Can Tho, Golden Hills City, Van Lang University, and Sao Mai Solar Power Plant, etc. In the fields of healthcare and education, TWG has left its mark in many provinces and cities across the country with a network of more than 10 The Gold Beehive Kindergartens in Ho Chi Minh City and other provinces, Block C - Hoan My Da Nang Hospital, Long An Obstetrics and Pediatrics Hospital, Saigon International General Hospital Project (District 3, Ho Chi Minh City), etc.