Economic growth

The upcoming program is expected to cover all fields that are in need of support and have the potential to recover during the post-pandemic period. The upcoming economic recovery program may include resources from funds from the private sector or the non-state budget. Vice Minister of Planning and Investment Tran Quoc Phuong gave the remarks at a monthly government meeting on December 2. Vice Minister of Planning and Investment Tran Quoc Phuong. Photo: Nhat Bac According to Phuong, the detailed plan for the program has been submitted to the Government, with the size of the program under consideration. Phuong, however, suggested the main instruments to carry out this program would be based on monetary and fiscal policies. “The Government would mobilize social resources via projects under the public-private partnership (PPP) mechanism,” he said. On the same day, the Chairman of the Economic Committee under the National Assembly (NA) Vu Hong Thanh said …

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A renewable energy power complex invested by Trung Nam Group in Thuan Bac district, Ninh Thuan province (Photo: VNA) Hanoi (VNA) – A workshop on enhancing the role of private investment in green growth for the 2021-2030 period was jointly held by the Central Institute for Economic Management (CIEM) and the German development cooperation agency (GIZ) on November 3. GIZ in Vietnam under the authorisation of the Federal Ministry for Economic Cooperation and Development (BMZ). CIEM Nguyen Hoa Cuong, businesses are both subjects and partners in the issues of global warming, environmental pollution and natural resources degradation, therefore attracting private investment in activities towards promoting green growth will contribute to realising Vietnam’s green growth strategy and commitment to reduce greenhouse gas emissions. green growth and environmental protection. VNA …

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Renewable energy power complex invested by Trung Nam Group in Thuan Bac district (Ninh Thuan) (Photo: VNA) Hanoi (VNA) - The role of non-state enterprises in green growth is increasingly important, but its current scale in Vietnam is still modest. Within the framework of the programme “Macro-Economic Reform, Green Growth" implemented by the German Agency for International Cooperation in Vietnam, the Central Institute for Economic Management has carried out a research project titled “Enhancing the role of private investment in green growth for the 2021-2030 period.” The content of the study focuses on two aspects, including the role of private investment in two specific areas, namely renewable energy and policy of mobilizing resources for green growth in Vietnam. Dr. Ho Cong Hoa, Deputy Head of the Social Affairs Research Department under the Central Institute for Economic Management, said that in during 2010-2019, the number of non-state enterprises investing in the …

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Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan speaks at the event (Photo: VNA) Hanoi (VNA) – Vietnam’s digital economy is forecast to grow by 31 percent to 21 billion USD this year thanks to a 53 percent expansion in e-commerce, according to a report by Google, Temasek and Bain & Company. Amid the COVID-19 pandemic, digital transformation will enable enterprises to popularise their trademarks and improve stature, heard a seminar held by the Ministry of Industry and Trade in Hanoi on November 17. Identifying obstacles A study on consumers’ payment attitudes in Southeast Asia in 2021 showed that 44 percent of people shopped online for the first time in 2021 and 84 percent accepted cashless payment. However, a representative from Sendo company said that Vietnamese products only accounted for 17 percent of the top items bought on its site while foreign products made up 83 percent. One of the main reasons is the lack of professional investment in …

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SÓC TRĂNG PROVINCE — The Cửu Long (Mekong) Delta province of Sóc Trăng is urgently stepping up procedures to call for investment from the private sector in the Trần Đề deep-water seaport project. Trần Văn Lâu, chairman of the provincial People’s Committee, said the Government approved a new master plan on the development of seaports in September, which is part of the sustainable development plan for the country’s marine economy for 2021-30, with a vision to 2050. The Trần Đề deep-water seaport project was added to the seaport development master plan. The existing Trần Đề Port will be developed into an international deep-water seaport on a large scale. The project is estimated to cost more than VNĐ40 trillion (US$1.76 billion) and will not be funded by the State. Total construction will cover about 5,750 hectares of land and water areas. The new seaport’s main offshore area will have seven wharves capable of handling general ships and large-sized container ships of up to …

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Workers transport fishes at  Tran De Port in Soc Trang Province.— Photo nhandan.com.vn The Cuu Long (Mekong) Delta province of Soc Trang is urgently stepping up procedures to call for investment from the private sector in the Tran De deep-water seaport project. Tran Van Lau, chairman of the provincial People’s Committee, said the Government approved a new master plan on the development of seaports in September, which is part of the sustainable development plan for the country’s marine economy for 2021-30, with a vision to 2050. The Tran De deep-water seaport project was added to the seaport development master plan. The existing Tran De Port will be developed into an international deep-water seaport on a large scale. The project is estimated to cost more than VND40 trillion (US$1.76 billion) and will not be funded by the State. Total construction will cover about 5,750 hectares of land and water areas. The new seaport’s main offshore area will have seven wharves capable …

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President Nguyen Xuan Phuc meets embassy's staff in Russia President Nguyen Xuan Phuc met the staff of the Vietnamese Embassy and representative agencies in Moscow, Russia, on November 30. The President said that he had just had very successful talks with Russian President Vladimir Putin. The two leaders discussed 20 issues related to cooperation between the two countries, upon which they reached high consensus, he said, adding that the Russian President supported many issues raised by Vietnam. The two leaders agreed to issue a joint vision statement on the Vietnam-Russia comprehensive strategic partnership until 2030. While appreciating the preparations for the visit made by the Ministry of Foreign Affairs and relevant agencies, and especially the staff of the Vietnamese Embassy in Russia, the President asked the agencies to perform well the tasks assigned by the Party and the State as well as to nurture the good relationship between the two countries. He also underlined …

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Việt Nam ranks 38/169 in a 2020 global connectedness index. — VNA/VNS Photo HÀ NỘI — Việt Nam ranked 38 out of 169 in a 2020 global connectedness index released recently by DHL, a leading international logistics company, moving up from last year's result to rank just one spot below the US (37 of 169). According to DHL, the Southeast Asian economy ranked 3rd among the best outperformers, who exceeded all expectations in the index, just below Singapore (1st) and Cambodia (2nd) thanks to its friendly policies include membership of numerous trade blocs and FTAs with almost all of the major global economies. The country's stable political structure, since the Đổi Mới reform, have brought massive international investment and businesses into the country, which has since helped boost Việt Nam's export growth, eradicate poverty and raise the middle class. The index ranks Việt Nam as the top country for community support of global trade and business ties. In addition, major gains in …

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Salaries are being increased by around 7-10 percent, with recruitment demand having tripled compared to the social distancing period, according to report by recruitment platform ViecLamTot.com. Many companies are struggling to find workers as at least 1.3 million people have left the city because of the pandemic, said director of the recruitment company Tran Minh Ngoc. According to the HCMC Statistics Office, the city created over 14,100 jobs in October and more than 19,600 jobs in November. HCMC Center for Forecasting Manpower Needs and Labor Market Information predicted the city would need some 43,700-56,900 jobs, including 5,600-7,200 positions for manual workers, in the last quarter of this year. However, this won’t affect the economy as a whole since in the long-term, growth potential remains intact, she said, adding the number of job searches rose ten-fold as Vietnam resumed economic activities in October. "This is the period when workers shift from tourism and …

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Agriculture has always been a pioneer in the Doi Moi (renovation) process, contributing significantly to achievements in poverty reduction and food security in Vietnam. In the time of globalization and integration, Vietnam aims to develop agriculture on a green, low-emissions foundation to contribute to realizing its commitment to carbon neutrality by 2050. This vision will help the agriculture sector reduce costs, use less inputs and resources, and create multi-value integration, thereby affirming Vietnam’s position as a powerhouse of ecological and carbon neutral agriculture and a food supplier of “Transparency - Accountability – Sustainability”. Agricultural support Vietnam exports more than 6 million tons of rice every year. The early years of the 21st century marked a turning point for the food system in Vietnam. As one of the poorest countries in the world in the late 1980s to early 1990s with 60% of the population living below the poverty line, …

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