Economic development

Addressing the opening of the 15th meeting of the Hanoi People’s Council on July 6, the NA leader said the success of an investment promotion conference in the city in late June affirmed its pioneering role in economic recovery and development now that the COVID-19 pandemic has been controlled. Along with the Capital Law and Resolution No 97 issued on November 27, 2019 on the pilot implementation of the urban government model in Hanoi, the NA approved a resolution on a number of specific finance-budget policies and mechanisms for the capital during the 9th NA session, which allows it to apply on a pilot basis several policies and mechanisms in State budget collection and spending, outstanding loans, and finance reserve fund use. The NA leader advised the city to make full use of the specfic finance-budget policies and mechanisms in NA Resolution No 115, which will take effect from August 15, and therefore make faster and more sustainable development while … [Read more...] about NA leader hails Hanoi’s socio-economic development efforts

In the early months of this year, the corporation started 14 projects and energized 20 projects, raising the number of energized and commencement projects in the 2016-2020 period to 345 and 247 projects/works respectively; contributing to raising the capacity of the electricity system, ensuring supply for industrial parks in 27 Northern provinces and cities. Those and other on-going projects are expected to create a “golden opportunity” for Vietnam in drawing post-Covid-19 investment, contributing to a favorable investment, business environment and national economic recovery. … [Read more...] about EVNNPC powers up for post-Covid 19 economic development

Jakarta (VNA) – The People's Representative Council of Indonesia on June 15 approved a draft economic development and recovery plan for 2021 submitted by the Government, which eyes 4.5-5.5 percent in economic growth. The draft plan sets targets of curbing inflation at 2-4 percent, maintaining the value of rupiah at 14,900-15.300 rupiahs per USD, increasing the output of exploited crude oil to 677,000-737,000 barrels per day, and controlling State budget overspending at 3.21-4.17 percent of GDP. The Indonesian Government said that when making the plan, it had taken into account possible risks as well as national economic development and recovery potential. Recently, the Organisation for Economic Cooperation and Development (OECD) forecast that the Indonesian economy could witness a 3.9 percent contraction this year if it is hit by a second wave of COVID-19, noting that the contraction would be the first since the 1997 financial crisis. The OECD report highlights the rocky path … [Read more...] about Indonesian Gov’t eyes 4.5-5.5 percent economic growth in 2021

To maintain the achievements, they suggested effectively implementing such measures as facilitating production and business to promote growth; combating corruption, wastefulness; improving the quality of vocational training and high-quality human resources; enhancing the effectiveness of judicial work and law enforcement; devising support policies for education-training establishments affected by the COVID-19 pandemic, especially in rural areas; focusing on forest protection and development, and promoting domestic tourism. … [Read more...] about NA deputies agree with solutions for socio-economic recovery

For his part, Binh thanked the WB official for his active contributions to promoting the bank's role and support efficiency in Vietnam, not only through increasing development assistance capital but also helping to exchange policies, renew mindset in management, change growth model, and fuel economic development. … [Read more...] about WB to continue supporting Vietnam on development path