Military spending as a percentage of gdp in united states

An overview of the event to launch the report (Photo: WB) Hanoi (VNA) - For Vietnam to realise its aspiration for reaching high income status by 2045, the country will need to shift its economic growth model and sharply improve the government’s capacity to coordinate and implement economic policy reforms and public investments, a World Bank Group report says. The World Bank Group ’s Systematic Country Diagnostic Update , entitled "How Will Vietnam Blossom? Reforming Institutions for Effective Implementation”, emphasises that Vietnam's traditional growth model faces major challenges from the COVID-19 pandemic, slowing globalisation, and the country’s increasing vulnerability to external shocks, especially climate risks. After identifying a series of policy responses and reform priorities, many of which are not new, the report argues that adapting institutions will be the key to success. Vietnam’s GDP per capita has increased five fold over the past three … [Read more...] about Vietnam should shift economic growth model for further development: WB report

Over the past time, despite the complicated developments of the COVID-19 pandemic, the MR4 Command has directed its affiliated units to closely work with Lao military units and localities to ensure security in border areas and manage COVID-19 pandemic, while helping the Lao side to build the political system, contributing to ensuring political security and social order. For their part, Lao units and localities also coordinated with MR4’s units to grasp situations and maintain stability in border areas, while supporting the Vietnamese military units to search, collect and repatriate Vietnamese volunteer soldiers and experts who laid down their lives in Laos during wartime. During the discussion, both sides mapped out solutions to raise cooperation quality, promote delegation exchanges while well managing handed-over constructions which symbolize the bilateral special solidarity and friendship. On this occasion, the two sides inked the cooperation agreement for 2022 and presented … [Read more...] about MR4 and Lao People’s Army promote cooperation

Vietnamese Deputy Defense Minister Senior Lieutenant General Hoang Xuan Chien affirmed that while delivering a speech at the ASEAN Defense Senior Officials’ Meeting Plus (ADSOM+) in Phnom Penh on May 18. The Vietnamese deputy defense minister also emphasized that the security and safety of navigation and aviation in the East Sea (or South China Sea) is extremely important for countries in the region and the Association of Southeast Asian Nations (ASEAN). Therefore, it is essential to observe the Declaration of the Conduct of Parties in the East Sea (DOC) and accelerate the early signing of a practical and effective Code of Conduct in the East Sea (COC). The head of the Vietnamese delegation expressed his wish that all countries would settle conflicts and disagreements by peaceful means, on the basis of respecting international law and the United Nations Charter as well as ASEAN's basic principles. He added that besides emerging non-traditional security challenges, there have been … [Read more...] about Vietnam affirms consistent stance of settling disputes by peaceful means at ADSOM+

The temple commemorates soldiers who laid down their lives in the Dien Bien Phu battlefield. It covers 50,000 sq.m. and costs 105 billion VND (about 4.5 million USD), including 90 billion VND funded by Lien Viet Post Commercial Joint Stock Bank and the remainder from the local budget. Speaking at the ceremony, President Phuc said he felt grateful for great President Ho Chi Minh, General Vo Nguyen Giap, officers and soldiers, young volunteers, and people’s sacrifices for the victory in Dien Bien Phu. The martyrs' temple is a work of profound political and social meaning, reflecting the deep affection and gratitude of the Party, State and people throughout the country for the heroic martyrs in Dien Bien Phu, and meeting the needs and aspirations of people, war veterans, those with meritorious services to the revolution, and martyrs' relatives. The President said it will educate younger generations about the country’s revolutionary traditions and connect with other cultural and … [Read more...] about Temple dedicated to martyrs inaugurated in Dien Bien province

Well-known groups are continuing to pour money into Vietnam specifically for research and development, Photo: Le Toan LEGO Group COO Carsten Rasmussen last week arrived in Vietnam to speed up the preparation of a $1 billion complex in the southern province of Binh Duong. At last week’s meeting with the Danish toymaker, Deputy Prime Minister Pham Binh Minh said, “This is the largest capital from a Danish group investing in Vietnam, confirming the faith and optimism of Lego, as well as the interest of other Danish investors in this country.” Fresh updates recently revealed by the Ministry of Planning and Investment that the total newly-registered foreign direct investment (FDI) into Vietnam last year amounted to $38.85 billion, up 25.2 per cent on-year, thanks to two billion-dollar projects registered at $7.7 billion and both licensed on the last day of 2021. An annual report on FDI in Vietnam released last week by the Vietnam Association of Foreign-Invested Enteprises … [Read more...] about FDI quality in need of fresh policy boost

The United Nations Development Programme (UNDP) last week again warned that the ocean is faced with increasing threats and multiple risks posed by climate change, natural disasters, environmental pollution, over-exploitation of natural resources, and unsustainable economic activities. “Global warming and marine litter are threatening marine resources, including widespread bleaching of coral reefs. Globally, an estimated 8-20 million tonnes of plastic enter the ocean every year. In Vietnam, around 2,000 tonnes of plastic waste leaks from the country into the ocean every day. It is estimated that there will be more plastic than fish in the ocean by 2050,” said Caitlin Wiesen, resident representative in Vietnam of the UNDP. The global ocean economy contributes an estimated $3 trillion per year, or about 5 per cent of the world’s GDP and comprises industries ranging from oil and gas, shipping and ports to renewable energy, fisheries, marine ecosystems and tourism. The value of the … [Read more...] about Blue economy model gathering pace