Economic growth and economic development

Tanja Leimgruber - Programme lead, Digital Transformation for Green Growth, Global Green Growth Institute in Vietnam In recent years, Vietnam’s major cities have been frequently listed among the most polluted cities. At the same time, there remain challenges of environmental pollution, over-exploitation of natural resources, lack of adequate waste management, and increasingly extreme weather events that need to be addressed with urgency nationwide. The global mega trend of digital transformation – which will impact all areas of the economy and our personal lives – provides a unique opportunity for Vietnam to address these challenges and support the country’s sustainable economic growth. The key questions for governments and each citizen are how different stakeholders could be impacted by digital transformation; and what enabling conditions or essential policies and regulations are available to ensure that the benefits of digital transformation outweigh the potential negative … [Read more...] about Zooming ahead in sustainable economic growth – digitally

Workers at a factory applying "three-on-site" model during social distancing orders. — VNA/VNS Photo Huynh Phuc Hau Minister of Planning and Investment (MPI) Nguyen Chi Dung calculated economic growth in the whole of 2021 at between 3 and 3.5 per cent, but also said such a target will be difficult to reach. At the 4th session of the National Assembly Standing Committee meeting in Ha Noi yesterday, Dung said four out of 12 socio-economic targets have not yet reached the set plan due to the pandemic. He added though the economic growth in the first six months reached 5.64 per cent compared to 2020, the fourth outbreak had a serious impact, decreasing the third-quarter growth by 6.17 per cent, dragging the growth rate of the first nine months’ GDP to only 1.42 per cent. He added the macroeconomy suffered potential risks caused by disruptions in some production chains, supply chains, and goods circulation, meanwhile the labour and employment situation was severely affected. At … [Read more...] about GDP growth target is hard to reach: MPI

The street leading to the 38-ha resettlement area in Tan Thoi Nhat Ward of District 12 is uncompleted. (Photo: SGGP) He explained that many land projects are suspended because they do not consider socio-economic development aspects, which should be done before urban space planning for a more sustainable growth. The reason is to more precisely evaluate the potential development corresponding to the existing natural resources of a certain area, as well as current global trends, in order to devise the most suitable policy. As to land compensation and recovery, Vice Chairman Hoa said that the only way to speed up this task is to adjust outdated content in legal documents and mechanisms, especially compensation price. He also suggested to seek a strong investor who has the power to logically handle current congestions, while the Government needs to impose a deadline for project completion. At present, the surface area of HCMC is around 2,061km 2 , yet only 750km 2 is actively … [Read more...] about HCMC suggested to prioritize socio-economic aspects in urban planning

Chairman of the Ho Chi Minh City People's Committee Phan Van Mai (L) and Secretary of Ho Chi Minh City Party Committee Nguyen Van Nen (2nd, R) at the ceremony (Photo: SGGP) He was speaking at a ceremony hosted by the Ho Chi Minh City Business Association (HUBA) yesterday to celebrate the seventeenth anniversary of Vietnam Entrepreneurs Day with the theme: "Ho Chi Minh City Entrepreneurs: Solidarity - Responsibility - Dynamism - Creativity".  The event was attended by Secretary of Ho Chi Minh City Party Committee Nguyen Van Nen. The city will accelerate administrative reforms in the next time for better service. Simultaneously, the city expects businesses to strengthen the adoption of digital transformation, restore production for building a better city, added Mr. Phan Van Mai. At the ceremony, 93 outstanding entrepreneurs and businesses received certificates of merit from the municipal People's Committee. These businesses and business owners are those who have maintained … [Read more...] about City administrators listen to businesspersons’ opinions for economic recovery

Minister of Planning and Investment (MPI) Nguyen Chi Dung calculated economic growth in the whole of 2021 at between 3 and 3.5 per cent, but also said such a target will be difficult to reach. Workers at a factory applying "three-on-site" model during social distancing orders. At the 4th session of the National Assembly Standing Committee meeting in Hanoi yesterday, Dung said four out of 12 socio-economic targets have not yet reached the set plan due to the pandemic. He added though the economic growth in the first six months reached 5.64 per cent compared to 2020, the fourth outbreak had a serious impact, decreasing the third-quarter growth by 6.17 per cent, dragging the growth rate of the first nine months’ GDP to only 1.42 per cent. He added the macroeconomy suffered potential risks caused by disruptions in some production chains, supply chains, and goods circulation, meanwhile the labour and employment situation was severely affected. At the meeting, … [Read more...] about GDP growth target is hard to reach: Minister of Planning and Investment

Transmission lines are installed to connect renewable energy plants in Thuan Nam District, Binh Thuan Province. — VNA/VNS Photo Cong Thu The demand for investment capital for the development of power sources and grids will average US$10-11.5 billion per year by 2030. This is stated in the draft national electricity development planning for 2021-2030, with a vision to 2045 (power planning VIII) that has just been submitted to the Government by the Ministry of Industry and Trade after many revisions and reviews. According to the draft, the total investment capital required to implement the electricity development programme will be about $99 - 116 billion in the 2021-2030 period, equivalent to US$10-11.5 billion per year. In which, the average capital for power source development is $8.57-10.15 billion per year; while the capital for the transmission grid is about $1.36-1.44 billion a year. The power planning this time is developed with the aim of ensuring an adequate supply … [Read more...] about More than $10 billion per year to develop the power sources and grid in the 2021-2030 period