The Communist Party is aiming for Vietnam to reach GDP per capita of $5,000 by 2025 and to be a developed country by 2045. Party delegates voted to adopt the Resolution of the 13th National Party Congress at the final session of the Congress held on February 1, 2021. The goals are part of the Resolution of the 13th National Party Congress held from January 25 to February 1, the entirety of which has just been released by the Office of the Party Central Committee. The Resolution noted the highlight of the 12th tenure was the successful handling of the COVID-19 pandemic resulting in significant economic achievements – including stable macroeconomics, controlled inflation and high GDP growth, while people’s living standards were improved. The fight against corruption, loss and waste was intensified, while the socio-political situation remained stable, foreign relations deepened and Vietnam’s profile on the international stage grew. However, numerous shortcomings – including slow modernisation and industrialisation, shifting in the growth model, limited competitiveness and quality and productivity of the economy, inadequate adaptation to climate change and environment protection demands, drawbacks in Party building and rectification, that science and technology has not been the driving engine of socio-economic growth and the lives of certain groups of people remain difficult – of the 12th tenure have been identified in the Resolution. The achievements of 35 years of implementation of doi moi (Reform), 30 years of implementing the 1991 Party Platform and in the 10 years of implementing the 2011 Revised Party Platform have proved that the country’s path towards socialism is consistent with Vietnam’s practical situation and the times' development trends, with the Party’s righteous leadership the leading factor in Vietnam’s revolutionary victories, the Resolution reads. Amid rapidly shifting and complex developments in the global scene, the Party Platform …
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Vietnam offers numerous investment opportunities for Indian businesses
Delegates attend Vietnam-India trade-investment promotion conference (Photo: VNA) New Delhi (VNA) – The increasing importance of Vietnam in global supply chains is great potential helping to enhance the Vietnam-India relations, particularly between small- and medium-sized enterprises (SME) that are considered the main drivers for economic growth in each country, heard an online conference on February 25. The bilateral trade-investment promotion conference titled “Boosting trade-investment cooperation opportunities between Vietnam ese and Indian SME s” was jointly organised by the Trade Office of the Vietnamese Embassy in India, Uttar Pradesh state government, the Indian Industries Association (IIA) and the Hanoi SME Association. IIA President Pankaj Gupta said that several major enterprises of India such as Adani Group, Mahindra, SRF and Suzlon have shown interest in investing in Vietnam. He suggesting Indian enterprises invest in Vietnam in the fields of energy, mineral exploration, agricultural chemicals, sugar production, tea, coffee, information technology, and automobile components. Vietnam is currently holding a lot of advantages for investors such as favourable investment policies, numerous free trade agreements, rapid economic growth, stable political situation, cheap labour costs, and young labour force, he stated. However, participants pointed to several challenges for foreign investors in Vietnam, including high corporate tax rates of 32-50 percent for companies operating in oil and gas exploration and exploitation and other valuable natural resources, complicated administrative procedures, and dependence on cash transactions. Meanwhile, Vietnamese Ambassador to India Pham Sanh Chau proposed the two countries’ enterprises expand cooperation in supporting industry, automobile and motorbike spare parts, garment and footwear materials and household appliances. According to the Vietnam Foreign Investment Agency, as of December 2020, …
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World leaders offer congratulations to Party General Secretary Nguyen Phu Trong’s re-election
Leaders of many countries have extended their congratulations to Party General Secretary and State President Nguyen Phu Trong over his re-election as General Secretary of the Central Committee of the Communist Party of Vietnam in the 13th tenure. Party General Secretary and State President Nguyen Phu Trong during the press conference held after the conclusion of the 13th National Party Congress in Hanoi on February 1, 2021 Leaders of many countries, including the US, Russia, France, South Korea, and ASEAN countries, have extended their congratulations to Party General Secretary and State President Nguyen Phu Trong over his re-election as General Secretary of the Central Committee of the Communist Party of Vietnam in the 13th tenure. Russian President Vladimir Putin's message says Russia values the personal contribution of the Vietnamese Party leader to strengthening the comprehensive strategic partnership between the two countries. It expresses his belief that with joint efforts, the two countries will continue to promote bilateral constructive dialogues and effective cooperation in all fields, which meets the interest of the people of both Russia and Vietnam and contributes to ensuring stability and security in the Asia-Pacific region. Meanwhile, US President Joe Biden appreciated the commitments made by General Secretary Trong to promoting the US-Vietnam partnership, and expressed his wish to further bolster the bilateral ties. He also welcomed the Vietnamese Party leader’s efforts in fighting corruption and promoting good governance, and wished the Party General Secretary success in his position. The US President stressed that cooperation among the US, Vietnam and the ASEAN community, was very important to promoting shared priorities in the context of grave challenges facing the international community. The message from Indian President Ram Nath Kovind notes that under General Secretary Trong’s leadership, the special and time-tested …
