Oecs growth and development strategy

This preliminary assessment was made by the ASEAN+3 Macroeconomic Research Office (AMRO) after its Annual Consultation Visit to Vietnam from May 3 - 18. “The Vietnamese economy is expected to grow at 6.3 percent in 2022 and 6.5 percent in 2023. Inflation is projected to remain contained,” said AMRO Group Head and Lead Economist Kalra. “This positive outlook rides on strong external demand, a recovery in domestic consumption and healthy investments inflows, bolstered by an appropriate macroeconomic policy stance.” The domestic outbreak of the Omicron variant receded sharply in April 2022, and border restrictions and domestic containment measures were eased. The aggregate output gap is expected to narrow significantly by the end of this year. The recovery is, nevertheless, uneven across sectors. While both the manufacturing and service sector outputs have surpassed their 2019 levels, the service sector still has pockets of distress, especially in the tourism, hospitality and … [Read more...] about AMRO forecasts Vietnam’s strong recovery amid external headwinds

Prime Minister Pham Minh Chinh attends Gia Lai's 90th founding anniversary celebration ceremony in Pleiku City on May 21 evening. (Photo: VNA) Gia Lai (VNA) - Gia Lai should make renewable energy a key economic sector and pay more attention to developing tourism and processing industries while, Prime Minister Pham Minh Chinh stressed at the Central Highlands province’s 90th founding anniversary celebration ceremony held in Pleiku City on May 21 evening. Gia Lai is blessed with various natural and cultural advantages, Chinh said in his remarks, noting that the province has magnificent, green landscapes; fertile soil; a wealth of minerals and resources; distinctive cultures; as well as hardworking and friendly people. To make the most of such advantages and potential to turn Gia Lai into a strong province with improved living standards, the provincial Party organisation, administration and people must work harder, cement their solidarity, and stay active, … [Read more...] about Gia Lai should make renewable energy key sector: PM

Mr. Phan Van Mai speaks at the meeting (PHoto: SGGP) At the first meeting of the Council of Rectors of Universities in the southern metropolis in 2022 at the University of Education yesterday, the council announced the decision to consolidate its personnel and proposed several new activities. The Council of Rectors in universities in HCMC was approved including Chairman of the Ho Chi Minh City People's Committee Phan Van Mai who was voted to be Chairman while Vice Chairman of the municipal People's Committee Duong Anh Duc was voted to be permanent Vice Chairman of the Council. Other vice chairmen of the Council include Director of Ho Chi Minh City Department of Education and Training Nguyen Van Hieu and Secretary of the Party Committee of HCMC Universities and Colleges Nguyen Thi Minh Hong. Members of the Council of Rectors of Universities in Ho Chi Minh City include 51 higher education institutions. The Rector's Council consists of six councils according to pedagogical … [Read more...] about HCMC Chairman Mai voted Chairman of Universities Council of Rectors

During the program, women’s union of Ngu Phung commune were equipped with knowledge on the Party’s guidelines and State’s laws and policies relating to defense and security work in the border areas and sea and islands. Meanwhile, they also got familiar with the basic contents of the Laws on Vietnam Border Guard, Marriage and Family, Gender Equality, Prevention of and Combat against Human Trafficking, among others. On this occasion, the organizing panel handed over 10 gifts (worth VND 300,000 each) to needy women, and presented 30 national flags, planted 60 trees in Ngu Phung commune while visiting and offering gifts to troops at the Border Post of Phu Quy Port Border Gate. The program aimed to share difficulties with needy women in the areas, and take care of needy people and soldiers in the border areas and on sea and islands. It also helped improve women members’ knowledge on laws, thereby promoting their responsibility in local development as well as in the fight against … [Read more...] about “Standing side by side with women in border areas” program conducted in Phu Quy island district

National carrier Vietnam Airlines remained in the red in the first quarter of this year, with losses of nearly US$113 million, despite its revenue rising to a two-year high. The airline posted a loss of VND2.621 trillion ($112.9 million) over the first three months of 2022, according to its Q1 consolidated financial statements issued on Friday. The loss was recorded even though the flag carrier logged revenue of more than VND11.6 trillion ($500 million) in the period, up 55 percent year on year, the highest performance since the second quarter of 2020, when COVID-19 began to severely affect Vietnam’s aviation industry. The impressive revenue failed to cover the total cost that was higher than expected, leading to the firm’s ninth consecutive quarterly loss, the carrier said. Vietnam Airlines’ fuel expense in the quarter was VND465 billion ($20 million) more than projected given rising world oil prices, VnExpress cited the company as saying. The Q1 result has brought the … [Read more...] about Vietnam Airlines suffers $113mn Q1 loss despite revenue surge

Passengers on the first Vietjet Air flight from Seoul to Nha Trang. (Photo: vietjetair.com) Hanoi (VNA) – Celebrating a vibrant summer and welcoming life back to Vietnam's famous paradise beaches, budget carrier Vietjet has officially reopened flights connecting Seoul and Nha Trang, Phu Quoc and Hai Phong. The first flight back to Nha Trang from Seoul on May 20 was greeted with a water cannon salute, flowers and gifts, showing Vietnam’s warm hospitality to visitors. Vietjet plans to relaunch services from Seoul to Phu Quoc and Hai Phong and vice versa this May, raising the total routes linking Vietnam and the Republic of Korea to six, given that the two countries are expecting a new wave of tourists from both sides, after the RoK announced the resumption of short-term tourist visas for foreigners from June 1. There are currently three Nha Trang - Seoul (Incheon) round-trip flights weekly, on Wednesdays, Fridays and Sundays. Starting from May 21, Vietjet … [Read more...] about Vietjet reopens flights between Seoul and Vietnam’s beach destinations

"I hate defeat. But Vietnam were strong and they had the support of 40,000 fans. They defended well, played long balls and were patient. They also scored a great goal. Thailand also played well. We created many chances but couldn’t score. That’s football," Polking said. He added: "Vietnam got to play at home, they had three months of training with specific strategies. They had better possession and knew how to convert chances. The beautiful goal by Nham Manh Dung is proof that they deserve to be champions." Thailand’s attacking power was considered the strongest in SEA Games as they scored 13 goals before the final. However, they approached the first half differently, compared to other games. "Actually, Thailand’s playing style was still the same. When we played Indonesia, we didn’t need too much pressing, since the opponent didn’t know how to distribute the ball. We tried to press Vietnam but it’s hard to succeed because they have quite a solid defense. I told the players to be … [Read more...] about Vietnam deserve SEA Games gold: Thai coach

Lê Thị Hiền celebrates winning the women's 60kg event. VNA/VNS Photo Tuấn Anh Thanh Nga HÀ NỘI — Việt Nam's vovinam proved their strength at the SEA Games 31 as the team topped the rankings after the final day of competition on May 22. The Vietnamese team won a total of six gold, six silver and two bronze medals to take the lead. Lê Thị Hiền brought home the only gold medal on May 22 in the women's 60kg event. In the qualifying round, the central province of Thanh Hóa-born player overcame Pech Chomno of Cambodia, and then defeated Zephania Ngaa Paga of the Philippines in the semi-finals. The final match between Hiền and Kesinee Tabtrai of Thailand was dramatic and fierce. With better skills and experience, Hiền won 5-2. Head coach of the national vovinam team, Nguyễn Tấn Thịnh, said that the big success that vovinam gained at the Games 31 was to widely promote its image to the public and international friends. Vovinam is now being received more and more actively … [Read more...] about Vietnamese vovinam tops team rankings

An employee passes electronic boards showing share prices inside Hồ Chí Minh Stock Exchange in HCM City. — VNA/VNS Photo Hữu Khoa HÀ NỘI — An upgrade to emerging status will not only help the stock market develop quickly, transparently and sustainably, but also attract huge foreign capital inflows, said experts. Recently, the Government has directed to purge the market and improve the trading system’s capacity, showing its determination to enhance the quality of the stock market. The refinement is to protect investors and open a door for the Vietnamese stock market to be upgraded from a frontier to an emerging market. Prime Minister Phạm Minh Chính has taken an interest in the development of the capital market and the stock market, including the matter of upgrading the market. During a trip to attend the ASEAN-US Special Summit, on May 16, the PM visited the New York Stock Exchange (NYSE) – the largest stock exchange in the world – hoping it supports and shares experience to … [Read more...] about Upgrading the market for the sake of all participants

Russia has agreed to assist Vietnam in building an e-government as well as help the Southeast Asian country ensure information safety, a Russian deputy minister for digital development said in Hanoi on Monday. Russian Deputy Minister of Digital Development, Communications and Mass Media Mikhail Mamonov is leading a delegation on a working visit to Vietnam from February 18 to 20. The guests, including Russian experts and firm representatives, had a working session with Vietnamese Minister and Chairman of the Government Office Mai Tien Dung in Hanoi on Monday. Vietnamese Prime Minister Nguyen Xuan Phuc established the National Committee on E-Government and assigned the Government Office to work with the Ministry of Information and Communications, and relevant agencies to build a detailed plan for the 2019-2020 period, Dung said at the meeting. Vietnam will launch platforms on data sharing and put into operation a national public services portal, with a view to building smart … [Read more...] about Russia to assist Vietnam in building e-government