Illustration photo Deputy Minister of Planning and Investment Nguyen Van Trung reported that the MoPI has promptly built the socio-economic development strategy in the 2021-2030 period and the five-year socio-economic development plan in the 2021-2025 period in preparation for the 13th Party Congress. Mr. Trung said that Viet Nam has attained positive outcomes in implementing the ten-year socio-economic development strategy in the 2011-2020 period and the five-year socio-economic development plan in the 2016-2020 period. The macro-economy was more stable. Big balances were ensured and improved. Economic growth was positive. Growth quality was improved. Strategic breakthroughs attained initial outcomes. The economy was restructured in combination with positive transformation of the growth modal. Scale, potentials, and competitiveness of the economy were on the rise. Social security was ensured. However, due to objective and subjective causes, in spite of … [Read more...] about MoPI crafts socio-economic development strategy in 2021-2030
Indianapolis economic development
Top 10 economic developments of 2018
(VEN) - In 2018, the Vietnamese economy achieved significant results in terms of renovation, growth, investment and international integration. Vietnam Economic News lists the year’s top 10 economic developments. 1. Decade-long record set in GDP growth In 2018, Vietnam continued fulfilling/exceeding all 12 socioeconomic development targets set by the National Assembly. The gross domestic product (GDP) grew 7.08 percent, the highest rate in a decade. The index of industrial production grew 10.2 percent. The manufacturing and processing industries achieved a growth rate of 12.3 percent, the highest in the past seven years. More than US$19 billion of foreign direct investment (FDI) capital was disbursed, up 9.1 percent compared with 2017. Vietnam saw strong improvements in the quality of economic growth, as well as of the business and investment environment. The number of newly established companies soared. For the third consecutive year, Vietnam succeeded in curbing the … [Read more...] about Top 10 economic developments of 2018
Vietnam, Nordic countries share experiences in socio-economic development
The event was held on the occasion of the Nordic Day (March 23) and aimed to share experiences, notably both successes and losses, of the Nordic socio-economic model in Denmark, Norway and Sweden. At the seminar Addressing the meeting, Associate Professor, Doctor Le Quoc Ly, Vice Director of the Academy, affirmed that the Nordic socio-economic model has reached various impressive achievements, particularly very high growth rates, advanced social welfare systems, effective environmental protection and preservation of cultural values, all of which serve as good references for other countries, including Vietnam. Speaking at the meeting, four speakers from the Nordic countries spoke about the history of the formation and development of the bloc; experiences in promoting coordination and building confidence among the members; social dialogue models and gender equality in the labor market. All delegates agreed that the meeting was a practical and useful activity, which … [Read more...] about Vietnam, Nordic countries share experiences in socio-economic development
PM receives Secretary for Commerce and Economic Development of Hong Kong
Prime Minister Nguyen Xuan Phuc receivs Secretary for Commerce and Economic Development of Hong Kong (China) Yau Tang-wah, Ha Noi on March 22, 2018 At the the reception, Mr. Yau Tang-wah said he was impressed at Viet Nam’s economic growth as well as its achievements in international integration and strong development of Viet Nam-China relations. He said his ongoing visit to Viet Nam is accompanied by a large number of Hong Kong firms who are seeking investment opportunities in the country, thus lifting bilateral trade ties to a new height. Hong Kong wants to become a reliable partner of Viet Nam, Yau said, adding that Hong Kong can provide Viet Nam with professional services in the fields of finance, law, insurance and accounting. In turn, Prime Minister Nguyen Xuan said Viet Nam expects strong growth of two-way trade with Hong Kong in … [Read more...] about PM receives Secretary for Commerce and Economic Development of Hong Kong
Vietnam promotes rights to enjoy the fruits of economic development
From legal documents… Series of new and important policies with widespread influence to the country’s social-economic life and the people’s life have been adopted. (Photo for illustration: VNA) The Constitution and legislations have established the most important frameworks guiding the development of the State and adjusting all aspects of the political, economic and social life, ensuring the balance of economic growth, social stability and social justice. In this regard, Vietnam’s legal system is deemed having an approach relevant to international standards and creating firm premises for the process of reform that always puts the people at the center and considers the people both target and driver for national development. A vast number of legal normative documents relating to human rights and citizenships have been issued such as the Law on Personal Income Tax, the Law on Credit Institutions, the Law on the Protection of Consumers’ … [Read more...] about Vietnam promotes rights to enjoy the fruits of economic development
UK Minister of State praises Vietnam’s economic development
UK Minister of State for Asia and the Pacific at the Foreign and Commonwealth Office Mark Field. (Photo: UK Embassy in Vietnam) UK Minister of State for Asia and the Pacific at the Foreign and Commonwealth Office Mark Field made the comment in an article entitled “As Thailand and Vietnam lead the Asian century, it’s time for British businesses to look East” posted on City A.M financial newspaper on January 18. Bilateral trade and investment is growing smartly, indeed, it has more than doubled since both sides inked a strategic partnership agreement in 2010, he stated, noting that “there is much more potential to be exploited.” As the two countries are celebrating 45 years of diplomatic relations in 2018, it will provide “heavenly timing, earthly benefitting and humanly sustaining” conditions for British enterprises to display in Vietnam the best of what they have to offer in education, creativity and innovation. Field visited Hanoi from … [Read more...] about UK Minister of State praises Vietnam’s economic development
British Minister of State praises Vietnam’s economic development
British Minister of State for Asia and the Pacific at the Foreign and Commonwealth Office Mark Field. (Photo: British Embassy in Vietnam) Hanoi (VNA) – Vietnam has seen strong economic growth in the past three decades, second only to China, and this has opened up great opportunities for foreign firms, including those from the UK, to boost investment in the country. British Minister of State for Asia and the Pacific at the Foreign and Commonwealth Office Mark Field made the comment in an article entitled “As Thailand and Vietnam lead the Asian century, it’s time for British businesses to look east” posted on City A.M financial newspaper on January 18. Bilateral trade and investment is growing smartly, in deed, it has more than doubled since both sides inked a strategic partnership agreement in 2010, he stated, noting that “there is much more potential to be exploited”. As the two countries are celebrating 45 years of diplomatic relations in … [Read more...] about British Minister of State praises Vietnam’s economic development
Enhancing competitiveness, boosting sustainable economic development
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
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