A scientific forum titled “Vietnam’s Economy 2016-2020: development breakthroughs” was held in Hanoi on September 4 by the Party Central Committee’s Economic Commission in coordination with the Vietnam Union of Scientific and Technological Associations (VUSTA) .
The forum aimed to make clear scientific grounds and the realities for the building of a social-economic development plan for 2016-2020 and contribute to the drafting of documents for the 12th National Party Congress.
Although Vietnam has reaped important achievements in the past five years, the country failed to fulfil some of set goals, such as the uncertain stability of the macro-economy, the slower-than-expected economic growth and the slow-paced improvement in the economy’s quality and competitiveness.
The building of institutions for the socialist-orientated market economy has not kept pace with the realities, and the quality of human resources and infrastructure are still an obstacle to development.
Weaknesses in the fields of education, science and technology, culture, social affairs and environmental protection have been slow to be repaired while new threats to peace, stability and national sovereignty have surfaced.
Based on the analysis of limitations and problems of the economy in past years, the forum focused on issues relating to institutions and the ways of thinking about economic development; economic restructuring; and reforms of growth models, productivity and total factor productivity.
Participants recommended switching to a growth model based on productivity and efficiency, which combines both intensive and extensive development with intensive development being the key.-VNA
Vietnam’s agriculture is entering a new phase to meet requirements in the process of international economic integration. Therefore, applying high-tech to improve efficiency, competitiveness and product quality and meet consumer demand is an urgent task, the Vietnam Economic News reported on August 1.
Vietnam’s macro-economy has successfully been kept stable and recovery remained on track during the first eight months of 2015, despite complicated global economic fluctuations, a ministry reported.
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
At the forum (Source: thst)
