NDO - The Vietnamese economy in 2017 continued to thrive with many impressive economic achievements, creating an important premise for GDP expansion in 2018. However, the economy is anticipated to face a lot of difficulties in 2018, particularly challenges of international integration and the Industry 4.0, requiring full awareness and timely solutions from the Government, sectors and localities. Impressive economic outcomesFollowing a high economic growth rate of 6.68% in the fourth quarter of 2016, the Vietnamese economy unexpectedly plunged in the first quarter of 2017 with a growth rate of just 5.15%. Although the economy bounced back to a relatively high growth rate in the second quarter of 2017 at 6.28%, many domestic and international experts and economic organisations believed that 2017 would be a difficult year for the Vietnamese economy.However, the spectacular boom of the economy in the remaining months of the year relieved the aforementioned concerns. The economic growth … [Read more...] about Enhancing competitiveness, boosting sustainable economic development
Indianapolis economic development
Ministries assigned with socio-economic development targets in 2018
In his Decision No. 01/QD-TTg, the PM assigns the MPI to realize a gross domestic product (GDP) growth target of 6.7% and a consumer price index (CPI) growth target of 4%, in addition to total investment capital for social development accounting for 33-34% of GDP and 88% of the industrial and processing zones installed with the concentrated water treatment system that meets environmental standards. The forest coverage target of 41.6% has been set for the MARD, while the MOIT has been entrusted with the targets of achieving an export revenue growth of 8-10% and a trade deficit equaling below 3% of total export revenues. The MOH is expected to have over 88.5% of the population covered by health insurance, in addition to developing 26 hospital beds per one million people.The targets set for the MOLISA include reducing the rate of poor households nationwide by 1-1.5% (according to the multidimensional poverty line), keeping the unemployment rate in urban areas below 4%, and … [Read more...] about Ministries assigned with socio-economic development targets in 2018
PM assigns socio-economic development targets to ministries
The Ministry of Agriculture and Rural Development was asked to achieve nearly 41.6 percent forest coverage. Meanwhile, the Ministry of Industry and Trade must record an 8-10 percent export increase. For the Health Ministry, there should be 26 beds (exclusive of those in communal medical stations) per 10,000 people and 88.5 percent of the population in the health insurance scheme.The Ministry of Labour, Invalids and Social Affairs was assigned to reduce multi-dimensional poverty by 1-1.5 percent and the rate of poor households in poor districts by 4 percent. It was also told to keep the rate of unemployment in urban areas below 4 percent and push the rate of skilled workforce to 58-60 percent. The PM authorised the Minister of Planning and Investment (MoPI) to assign socio-economic development targets regarding information and communications, education-training to ministries, ministry-level and government agencies, as well as business targets for State-owned groups and … [Read more...] about PM assigns socio-economic development targets to ministries
Vietnam investments boost Laos’ socio-economic development
Vietnam and Laos are two neighboring countries that boast a long-standing traditional friendship. Over recent years, hundreds of Vietnamese companies have made investment in Laos, generating more jobs, raising income for local people and changing the face of remote and difficulty-stricken areas.12 years ago, Bachiang was one of the most poverty-ridden districts of Champasak province. The locality’s face has been changed rapidly since the Viet-Laos Rubber Corporation invested in planting rubber trees here. The investment has improved the local people’s living conditions, helping them to abandon normadic life and farming. Vi Inthakumman, a worker at Viet-Laos Rubber Corporation said: "In the past, my family did farm work only. I even had to mow to earn our living. In 2005, my husband and I started working for the Viet-Laos Rubber Corporation. We now can afford housing and children’s schooling. Thanks to the improved infrastructure, the living conditions of local people … [Read more...] about Vietnam investments boost Laos’ socio-economic development
Gov’t succeeds in fulfilling socio-economic development targets
Photo: VGP/Thanh Chung Members of the Council announced that the nation has completed socio-economic development targets set for the year with a number of records such as the total exports-imports of US$400 billion, a trade surplus of US$3 billion, 120,000 newly-established enterprises and nearly 13 million foreign visitors. Viet Nam’s business and investment environment has jumped 14 notches and its innovation index climbed 12places. The Council proposed the Government and the PM continue monitoring macro-economic, fiscal and monetary policies. The State Bank of Viet Nam should control interest rates suitable with the macro-economy, inflation rate, and the monetary market, try to reduce interest rates and strengthen capital flows into commercial banks. The Council suggested the Government prevent tax evasion, soon amend the Law on Public Investment, make moves to develop the capital market in general and the stock market in … [Read more...] about Gov’t succeeds in fulfilling socio-economic development targets
Phu Yen: Holding a seminar “Culture – a motive of socio-economic development in the integration period”
(Cinet)- On 10th December, at Tuy Hoa City, Department of Culture and Information; Scientific-technical Associations in co-ordination with Phu Yen University held a scientific seminar, titled ““Culture – a motive of Phu Yen socio-economic development in the integration period”. At the seminar, nearly 20 presented reports of scientists, cultural and educational managers, and some private enterprises in the province focused on analyzing, introducing major socio-economic factors that affect the development process of Phu Yen culture in the innovative period. At the same time, they also concentrated on exchanging and clarifying theoretical and practical foundations; models of cultural activities; experienced lessons in the management associated with suggestions of real recommendations and solutions to develop culture for the successful implementation of the national Industrialization and Modernization. (Source: BPY) … [Read more...] about Phu Yen: Holding a seminar “Culture – a motive of socio-economic development in the integration period”
Dak Nong seeks cultural preservation, economic development
National Assembly Chairman Nguyen Phu Trong has asked the Central Highlands province of Dak Nong to preserve the cultural identity of local ethnic groups, as well as improve their spiritual and physical life. The NA leader also emphasised further development of the province’s economic sectors while working with provincial authorities during his tour to Dak Nong on March 12 and 13. The province should ensure social security and create a stable environment for investment, he noted. Chairman Trong particularly noted the important of fast, but sustainable, development in combination with environmental protection. Local authorities say that Dak Nong will strive to attain economic growth of over 15%, and per capita GDP of US$ 800 per year in addition to improving economic policies to raise industrial production value to 48.6% of total local revenues by 2010 and services to 22.5%. Toward this end, the province has proposed that the Government soon implement the Dak Nong … [Read more...] about Dak Nong seeks cultural preservation, economic development
Culture is a driving force for Phu Yen socio-economic development in the integration period
(Cinet)- “As a spiritual foundation of the society, Culture is both a driving force of promoting development and a noble target of socialism”, affirmed Document of the 5th Central Committee of the Party (Session VIII). How should be culture a driving force for Phu Yen socio-economic development in the integration period? The following are records at the seminar concerning above-mentioned contents, which are held by Complex of Scientific – Technical Association in co-ordination with Department of Culture and Information and Phu Yen University… Vice Principal of Phu Yen University, Nguyen Huy Vi: Overcoming difficulties of traditional culture The majority of Phu Yen people are farmers. Basically, traditional economy in Phu Yen is an agricultural economy. The aware feature of the living people in Phu Yen is general thought. That means culture has a flexible property which is relatively suitable for the penetration of the market-oriented … [Read more...] about Culture is a driving force for Phu Yen socio-economic development in the integration period
Vietnam and France look to sustainable economic development
Vietnam and France look to sustainable economic developmentTrung Chanh CAN THO – The tenth Vietnam-France cooperation conference kicked off on September 14 in the Mekong Delta city of Can Tho to promote sustainable and efficient economic and cultural development between localities of the two countries. Deputy Prime Minister Vu Duc Dam said at the conference with the theme of working towards an effective and sustainable economic partnership that France is one of Vietnam’s most important partners. He said the two sides have established a comprehensive and extensive relationship not only at government level but also between localities. Many joint projects in urban management, environment, healthcare and education have been developed and brought positive outcomes. Dam stressed that the conference took place immediately after the official visit to Vietnam by French President Francois Hollande, demonstrating the role and prospect of economic ties between the two countries’ … [Read more...] about Vietnam and France look to sustainable economic development
ADB supports economic development in northeastern and north central areas
The Asian Development Bank’s (ADB) Board of Directors has approved a USD150 million loan to help improve economic connectivity and raise living standards in four of Vietnam’s northeastern provinces by enhancing basic infrastructure and services. A tree and a power pole fell in a storm in Ha Tinh Province in September 2017 The assistance is expected to help over 212,000 people.Speaking about the loan, ADB’s Country Director for Vietnam, Eric Sidgwick, said that Vietnam has been experiencing remarkable growth over the last few years but the majority of economic gains have accrued in the urban areas, with rural areas, including provinces in the northeast, lagging behind.“We are confident the project will help realize the great growth and development potential of the northeastern part of Vietnam, particularly in trade, agriculture, and tourism,” he saidThe provinces of Bac Kan, Cao Bang, Ha Giang, and Lang Son—the project area—have … [Read more...] about ADB supports economic development in northeastern and north central areas