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Deputy Prime Minister Le Van Thanh speaks at  the third session of the 15th National Assembly On the morning of May 23, at the opening session of the third session of the 15th National Assembly, Deputy Prime Minister Le Van Thanh delivered a report on an additional assessment of the results of the implementation of the socio-economic development plan and the state budget in 2021 and that in the first months of 2022. Regarding additional results in 2021, the Government stated that 5/12 targets failed to meet the set goal. For instance, the gross domestic product growth rate reached 2.58 percent compared to the target of about 6 percent. Plus, GDP per capita reached US$3,680 against the target of $3,700, the contribution of total factor productivity to growth is about 37 percent compared with the target of 45 percent-47 percent, and the percentage of poor households with a multidimensional approach decreased by 0.52 percentage points compared to the target of 1-1.5 percentage … [Read more...] about This year’s economic growth target of 6 percent-6.5 percent huge challenge

Vietnam posted growth in both rubber export volume and value in the first four months of this year Southern Rubber JSC is set to reach $215.3 million in revenue, up 2 per cent on-year, and $4.39 million in pretax profit, equal to an 83 per cent jump on-year. Similarly, Phuoc Hoa Rubber JSC (PHR) aims to rake in $97.9 million in revenue and $39 million in pretax profit, up 29 per cent and 58 per cent on-year, respectively. Bao Viet Securities JSC assessed that Danang Rubber JSC (DRC) could post a 15 per cent hike in its pretax profit this year. Analysts assumed that in the forthcoming time, Vietnam’s rubber export would cash in on a spike in crude oil price, dwindling supply, plus burgeoning demands in major markets, in which China remains Vietnam’s largest rubber export market. VNDirect Securities JSC estimated that this year, PHR could eye a 156.2 per cent jump in its net profit compared to 2021 thanks to the one-off payment amounting to $39 million from land … [Read more...] about Rubber producers aspire rosy profit picture in 2022

The Government is committed to taking timely measures to ensure macroeconomic stability. The high inflationary pressure amid the recovery of domestic demand is putting Vietnam’s GDP growth target of 6-6.5% for this year at risk. Overview of the session. Source: quochoi.vn Deputy Prime Minister Le Van Thanh gave the remarks at the third session of the 15 th National Assembly held today [May 23]. According to Thanh, the Vietnamese economy has been on a positive recovery track in the first months of 2022 under the new normal. Total budget revenue for the first four months grew by 15.4% year-on-year to VND657.4 trillion ($28.4 billion), while the consumer price index (CPI) expanded by 2.64%, the lowest four-month period growth in the past five years. As of mid-May, credit growth stood at 7.2% against late 2021 and up 17% year-on-year, which showcases the recovery of economic activities, along with greater efforts from the Government to restore discipline … [Read more...] about High inflationary pressure put GDP 6.5% growth target at risk: Gov’t

Police in Dak Lak, a province in Vietnam's Central Highlands, have detained and levied charges against 28 local residents accused of destroying over 380 hectares of forest in a local commune. The suspects were taken into custody following an investigation which began on April 12 into the largest-ever case of deforestation in Dak Lak, local police announced on Sunday. All 28 suspects have been charged with 'forest destruction' under the Vietnamese Penal Code, and the provincial procuracy has ratified the arrest warrants and prosecutions against them. They were found to have been involved in deforestation activities in different areas of Ya To Mot Commune in the province’s Ea Sup District, with an aim to illegally occupy forest land, police said. The area of destroyed forest totals approximately 382.07 hectares, which is part of the forest areas under the management of the commune administration since 2020, according to investigators. Deforestation in Ya To Mot … [Read more...] about 28 suspects held over largest-ever deforestation case in Vietnam’s highland province

National Assembly Chairman Vương Đình Huệ delivers opening remarks at the meeting in Hà Nội on Monday. — VNA/VNS Photo HÀ NỘI — National Assembly (NA) Chairman Vương Đình Huệ asked deputies to propose practical and effective measures to fulfil socio-economic targets for the 2021-2025 period. Addressing the opening ceremony of the third session of the 15th-tenure NA in Hà Nội on Monday, Chairman Huệ proposed the deputies assess achievements and shortcomings, while pointing out challenges to successfully implementing socio-economic development tasks. Deputies were also asked to closely follow requirements, targets and solutions set by the NA and the Government regarding socio-economic development, COVID-19 prevention and control, five-year planning frameworks during the 2021-2025 period and fiscal and monetary policies. In order to ensure the highest efficiency of the third session, NA agencies and deputies made careful preparations for discussions, aiming for the best outcomes … [Read more...] about NA meeting expected to create premise for socio-economic achievements