Nguyen thi kim ngan

The UNESCO General Assembly will adopt a resolution on the celebration of Vietnamese poet Nguyen Dinh Chieu’s 200th birth anniversary in a meeting slated for November this year, according to Prof. Dr. Nguyen Chi Ben.

Party General Secretary Nguyen Phu Trong (Photo: VNA)

Hanoi (VNA) – President Ho Chi Minh’s thought, morality, and lifestyle are precious spiritual assets of the Vietnamese Party and people, illuminating the revolutionary cause, leading to the victory of the Vietnamese revolution.

Party General Secretary Nguyen Phu Trong made the remarks at the national teleconference reviewing the five-year implementation of the 12-tenure Politburo’s Directive 05-CT-TW on enhancing the studying and following of President Ho Chi Minh ‘s thought , morality and lifestyle on June 12.

Learning and following the late leader’s thought, morality and lifestyle is a necessary, regular and indispensable task for the entire Party and people, particularly Party organisations, State agencies and officials and Party members.

An overview of the teleconference in Hanoi (Photo: VNA)

On behalf of the Party Central Committee, the Party chief welcomed and praised collectives and individuals that stand out in performing this task.

The nation’s revolutionary cause is still facing many difficulties and challenges, he noted, given rapid, complex and unpredictable developments of the national and global situations.

He stressed the importance of continue learning and following the President’s ideology, morality and style, and highlighted the need for officials and Party members to set themselves as good examples for others.

The leader showed his hope that this task will continue to be enhanced in a more substantive and effective manner so as to contribute to the implementation of the 13th National Party Congress’s Resolution as well as the nation building, safeguarding and renewal cause.

The national teleconference also saw the presence of Politburo members: State President Nguyen Xuan Phuc, Prime Minister Pham Minh Chinh, National Assembly Chairman Vuong Dinh Hue, and permanent member of the Party Central Committee’s Scretariat Vo Van Thuong./.

Party General Secretary Nguyen Phu Trong talks to the press after casting his vote in Nguyen Du ward of Hanoi’s Hai Ba Trung district on May 23 morning (Photo: VNA)

Hanoi (VNA) – Vietnam is entering a new stage of development that will meet the demand and aspirations of voters and people nationwide, according to Party General Secretary Nguyen Phu Trong.

Talking to the press after casting his vote in Hanoi on May 23 morning, the Party leader highlighted the significance of the 15th general elections , which coincide with the 131st birth anniversary of President Ho Chi Minh and follow the success of the 13th National Party Congress.

He noted that this time’s elections take place more than 75 years after the country gained independence and 35 years since the launch of Doi moi (Renewal), at a time when the country has fulfilled the socio-economic development plans for 2016-2021 and set out to implement the socio-economic development plan for the next five years.

With nearly 70 million voters who will select 500 deputies to the 15th National Assembly (NA), nearly 4,000 to provincial-level People’s Councils, over 20,000 to district-level People’s Councils, and more than 240,000 to communal-level People’s Councils, this is the largest-ever elections, General Secretary Trong affirmed.

Despite the COVID-19 pandemic, voters have played a very active and responsible role in preparing for the elections over the past months, the Party chief emphasised, voicing his belief that the most deserving persons will be selected for the NA and all-level People’s Councils for the 2021-2026 tenure.

The leader added that he hopes the deputies of the NA and People’s Councils in the new tenure will wholeheartedly work for the sake of the country and the people, fulfill their responsibilities and duties in line with the Constitution and laws, and be absolutely faithful to the Fatherland, the people, and the Constitution./.

The economic recovery will base on large-scale corporations that are capable to deal with current difficulties.

Economist Nguyen Dinh Luong, former Vietnam’s Chief Negotiator of the US-Vietnam Bilateral Trade Agreement, in an interview with Hanoitimes talked up the role of industry-leading companies in helping the economy overcome Covid-19.

Economist Nguyen Dinh Luong. Photo: Kinhtedothi

The making of industry-leading companies is seen as a major step towards building a strong business community that could spur Vietnam’s economic growth. How do you view this vision in the current context of the Covid-19 pandemic?

The recent 13 ^th National Party Congress has stressed the significance of promoting the development of strong private and state-owned corporations that are capable of competing at regional and international levels in priority fields.

In the past and present, whenever the country is in a crisis, Vietnamese businessmen have shown their patriotism through specific action, an in this case their role of leading the economy back to the growing trend.

From the economic perspective, what do you think about the importance of these leading companies to the economy?

The Covid-19 pandemic has persisted for nearly two years and caused tremendous hardship for enterprises. A latest survey from the Vietnam Chamber of Commerce on over 10,000 enterprises revealed up to 87.2% of the total are affected by the pandemic.

Layoffs are seen mostly in private enterprises of micro and small size with respective rates of 36% and 35%. The burden to help the economy recover will mainly fall on the shoulder of large-scale corporations, mainly because they still have the resources to deal with current difficulties.

The fact that Vingroup owned by billionaire Pham Nhat Vuong donated four million Covid-19 vaccines to the Ministry of Health; Viettel provided VND450 billion (US$19.5 million) into the Vietnam Fund for Vaccination Prevention of Coronavirus Disease 2019 (VFVC); Electricity Vietnam, Vietnam Oil and Gas Group, and Vietnam Posts and Telecommunications Group each supported VND400 billion (US$17.4 million); demonstrating their strong financial capabilities.

Large scale corporations have strong links with global value chains, and therefore, would recover much faster than their smaller peers when the global economy returns to the growth path, not to mention their much stronger resilience against external shocks.

Should the government focus its support on large-scale enterprises?

Yes, I think so. In 2020, the government focused on freezing and delaying payment of taxes, land rental fees. This year, the business community is expecting more substantial supporting policies to recover and grow in the post-pandemic period.

Large enterprises, making up 80% of state budget revenue sources, are in needed of market opening, policies for production expansion, and easing border control for foreign experts to return.

During the Covid-19 period, Vingroup has set up pharmaceutical company Vinbiocare with registered capital of VND200 billion (US$8.7 million). The firm is actively working with foreign partners to transfer vaccine production technology to Vietnam. Recently, Vingroup has sealed a deal with Singapore-based Breathonix to acquire 30 Covid-19 breath testing systems, the first of its kind in the world, worth VND460 billion (US$20 million).

The system, which has received provisional authorization from Singapore’s Health Sciences Authority (HSA), could produce results with up to 90% of accuracy and in a non-invasive manner. Vingroup is expected to hand over the system to the Ministry of Health upon arrival in Vietnam

I think with a more open vaccine policy, major enterprises could find their own way to save themselves and also contribute to protecting public health.

What measures should the government focus on at the moment?

Enterprises, regardless of their sizes, are facing common issues of market access, working capital, workforce, and supply chains, which the government should take into consideration when drafting rescue packages.

There should also be different scenarios for these packages to be disbursed as quickly as possible once the pandemic is contained. Experiences from the US and other countries show they have set up various pandemic scenarios for each state, city and planned to take actions accordingly.

In this regard, priorities should be given to enterprises that have fulfilled their tax obligation, while the government should provide them with financial support for Covid-19 prevention measures.

Meanwhile, enterprises that have gone bankrupt or suspended operations should be included in social protection packages.

How could the government turn this crisis into an opportunity for stronger growth?

In addition to short-term support, the government should focus on administrative reform by saving costs and expenses for enterprises, especially in investment, trade procedures, and measures to help them gain greater market access.

On the other hand, while there has been a shift in foreign investment capital into Vietnam, measures are needed to strengthen the linkage between local and foreign enterprises, while the domestic market should be the focus of local firms.

Another key issue is the urgency for major economic corporations to embark on the digital transformation process, as this is the key step to help them reduce operational costs during the pandemic.

Thank you for your time!