What outdated economic system did the national constituent assembly officially abolish

Talking to the Vietnam News Agency, Doan Hoang Minh, Acting Director of the Ministry of Foreign Affairs (MoFA)’s Consular Department, said most countries removed travel restrictions in 2022, and Vietnam was one of the first to reopen its borders, in mid-March. Since then, the number of people going abroad for working, studying, tourism, and business purposes as well as those entering the country has bounced back strongly. Highlighting the ministry’s determination to build a comprehensive, modern, professional, clean, and strong diplomatic sector, he said that in the current context, as the government is stepping up administrative procedure reforms and demanding ministries and sectors boost measures for post-pandemic economic recovery, the ministry is deeply aware of its responsibility for continuing to improve the quality of consular services. Diplomatic staff members in Vietnam and abroad will work with the highest sense of responsibility and consider people’s satisfaction as the … [Read more...] about Improvement of consular services to continue: official

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency. - Vietnamese Ambassador to Singapore Mai Phuoc Dung has highlighted the significance of Prime Minister Pham Minh Chinh’s coming official visit to the city state, the first among many events to be held in both countries to mark the 50th anniversary of their diplomatic ties and 10 years of the strategic partnership. PM Chinh, his spouse, and a high-ranking delegation of Vietnam are paying an official visit to Singapore from February 8 to 10. Read full story - Two-way trade revenue between Vietnam and Laos in 2022 grew 24% from the previous year to reach some 1.7 billion USD, beyond expectations of their leaders at the 44th meeting of the Vietnam – Laos Inter-Governmental Committee on Bilateral Cooperation earlier last year. Read full story - Jeju Air Co., the biggest low-cost carrier of the Republic of Korea, said on February 6 that it will resume many routes to Vietnam … [Read more...] about ☕ Afternoon briefing on February 6

Hanoi (VNA) - The following is a list of selected news summaries last weekend by the Vietnam News Agency. - Prime Minister Pham Minh Chinh urged the north-central and central coastal regions to create more breakthroughs in development to match their potential and advantages while addressing a conference in Quy Nhon city, Binh Dinh province, on February 5. The conference touched upon the implementation of the Government’s action plan to materialise the Politburo’s Resolution No. 26-NQ/TW dated November 3, 2022 on orientations for socio-economic development and national defence and security in the two regions by 2030 with a vision towards 2045. It was also intended to promote investment in the regions with the theme of “Linkage - Breakthroughs from maritime economy - Rapid, sustainable development.” Read full story - A Vietnamese delegation led by Deputy Minister of Culture, Sports and Tourism Doan Van Viet attended the 22nd ASEAN Plus Three Tourism Ministers Meeting in … [Read more...] about ☀️ Morning digest February 6

Nguyen Tri Hieu, Economist This had shown in financial markets: the stock market lost more than 30 per cent of its value; the corporate bond market and real estate market became frozen; the gold market fluctuated strongly; and banks scaled up interest rates to attract depositors. The State Bank of Vietnam (SBV) then had to expand the credit room many times for banks in 2022 and by the end of the year had raised the credit ceiling to 15.5-16 per cent. In 2023, investors do expect the stock market to rally, and in fact the market did recover slightly before dropping again, showing that Vietnam’s financial market is still unstable. In this context, the bond market is still frozen. The Ministry of Finance is considering amending regulations on the corporate bond market to restore development. Meanwhile, the war between Russia and Ukraine continues to escalate and is likely to widen tensions. The world economy has been plagued with high inflation in many countries. In the US, … [Read more...] about Gauging efficient investment channels for the year

Vo Tri Thanh *Vo Tri Thanh Viet Nam achieved and exceeded 14 out of 15 targets assigned by the National Assembly for 2022 with many impressive numbers including GDP growth, export turnover and the number of newly-established and re-opened businesses. Only labour productivity was under expectations. Viet Nam’s labour productivity was expected to increase by between 4.7 per cent and 5.2 per cent on average in 2022, higher than the average growth rate of 4.7 per cent in 2021 but behind the target of 5.6 per cent set for the whole of 2022. On January 10 this year, the Government issued Resolution No 06/NQ-CP on the development of a modern, efficient, sustainable and integrated labour market serving quick socio-economic recovery, setting the average labour productivity target for 2023 at more than 6.5 per cent. Labour productivity is an important economic indicator that is closely linked to economic growth, competitiveness and living standards within an economy. According to … [Read more...] about Viet Nam wrestles with labour productivity issue when heading to innovation-based development

Party General Secretary Nguyen Phu Trong speaks at the event (Photo: VNA) Hanoi (VNA) - The Politburo on February 6 held a meeting with former senior leaders of the Party, State and Vietnam Fatherland Front on the occasion of the 93rd anniversary of the Communist Party of Vietnam (CPV) and the Lunar New Year. Participating former leaders all expressed their belief in and pride of positive outcomes that the country has achieved in the past time. In the hope of boosting the quality and effectiveness of the Party and State leadership in 2023 and the following years, they made recommendations and proposals mostly regarding the building of the Party and political system, external affairs, socio-economic development and anti-corruption work, among other issues. Taking into account their comments, Party General Secretary Nguyen Phu Trong noted that last year’s outstanding achievements, particularly in pandemic prevention and control, economic recovery and development, … [Read more...] about Politburo meets former Party, State leaders

The suggestion has been sent to the Ministry of Planning and Investment for consideration, before being presented to the central government. The proposal was made as the southern metropolis of 10 million people is currently suffering from a severe shortage of parking space. There are only around 300 ha of parking space, far short of the city’s goal of 1,200 ha, according to official data. HCMC is requesting the National Assembly allow investing in structures with the usage of no more than 10 years on empty land. These projects may include high-rise parking complexes and structures for culture and sport activities. Such investments would help utilize funds from multiple sources, and also help with meeting the demand for parking spaces and reducing the costs incurred due to traffic congestion, HCMC authorities said. As planned, downtown HCMC areas, spanning 930 ha, would have four underground parking lots. However, none of these projects have been deployed due to multiple issues. … [Read more...] about HCMC proposes building parking lots on empty land

Responsible and Sustainable direction giving wings to Vietnamese tourism development The survey results also indicate that up to 57 per cent of respondents said that they have had a different thought about tourism is done, especially because it is related to the local economy, community, culture, and environment. Responsible and sustainable tourism is becoming more important, and the needs and preferences of tourists is also changing. Instead of noisy and prosperous tourist destinations, many people are looking for peaceful countryside and experiences of discovery, close to nature and good for health, in accordance with the projects on development of national parks and protected areas in Vietnam. Among the sustainable tourism models often mentioned in recent years, models that focus on exploiting simple and healthy natural experiences such as agritourism, farmstay, or glamping are special models to attract the attention of both tourists and investors. As a model of farm … [Read more...] about Responsible and sustainable direction giving wings to Vietnamese tourism development