Worst performing economy in the world

In long term, transforming the higher education system will be key to boosting Vietnam’s productivity and helping achieve its goal of becoming a high-income country by 2045. Vietnam’s GDP growth is forecast to surge from an estimated 2.6% in 2021 to 7.5% in 2022, with backing from resilient manufacturing and a robust rebound in services. Overview of the event. Photo: Nguyen Tung Country Director for the World Bank in Vietnam Carolyn Turk revealed the figures at the launch of its bi-annual economic outlook for Vietnam titled “Taking Stock: Educate to Grow” today [August 8]. According to Turk, the global economy has been experiencing a series of very large and negative shocks, including ongoing Covid-19-related disruptions and supply shocks associated with the Russia-Ukraine conflict. In this context, Vietnam’s economy has shown “relative resilience and staged a strong rebound after last year’s Covid-19 induced slowdown,” Turk said. Vietnam’s economic … [Read more...] about Vietnam’s GDP growth set to expand by 7.5% in 2022: World Bank

At the press conference to release the report. (Photo: WB Vietnam) According to the latest economic update by World Bank (WB) for Vietnam, the country’s economy expanded 5.2 percent in Q4 of 2021, and respectively 5.1 percent and 7.7 percent in Q1 and Q2 of 2022. Inflation is projected to average 3.8 percent over the year. Carolyn Turk, WB Country Director for Vietnam, said that the bi-annual report “lays out a set of policy recommendations that could help mitigate the impact of these risks and make the economy more resilient going forward.” Titled “Taking Stock: Educate to Grow”, this edition underlines transforming the higher education system as the key to boosting the country’s productivity and achieving its development goals, in the context where the country re-emerges from the pandemic and into a challenging global environment. The report’s co-author Dorsati Madani said that while Vietnam’s economic recovery had been relatively stable, not all sectors witnessed the same … [Read more...] about Vietnam’s economic growth forecast at 7.5 percent in 2022: World Bank

Foreign Minister Bui Thanh Son addresses the ceremony (Photo: VNA) Hanoi (VNA) – Foreign Minister Bui Thanh Son made a speech at the ASEAN flag-hoisting ceremony in Hanoi on August 8 on the occasion of the 55th anniversary of the regional grouping. Following is the full text of his speech. Excellencies, Ladies and gentlemen, It is my great pleasure to welcome all of you to the ASEAN Flag-Hoisting Ceremony today to mark the 55th founding anniversary of ASEAN. I am also happy to see all of you, healthy and safe after two years of COVID-19 outbreak. The ceremony this morning brings me back to the solemn moment as the ASEAN Flag was hoisted high amidst the stirring ASEAN Anthem at the very successful 55th ASEAN Foreign Ministers’ Meeting in Phnom Penh last week. Standing before the ASEAN Flag, we are truly proud of what we all have achieved in pursuing the aspirations of nearly 700 million Southeast Asian people for an ASEAN Community of peace, solidarity, resilience and … [Read more...] about FM Bui Thanh Son’s remarks at ASEAN flag-hoisting ceremony

Digitalization is seen as a major instrument for Vietnam to promote an independent and self-reliant economy. Businesses and people should be the main beneficiaries and the driving force for the national digital transformation, so the Government encourages them to take an active part in this process. Prime Minister Pham Minh Chinh at the meeting. Source: VGP Prime Minister Pham Minh Chinh stressed the goal during a meeting of the National Committee on Digitalization today [August 8]. According to Chinh, efforts from Government agencies and localities have been translated into strong progress in Vietnam’s digitalization and contributed to the socio-economic recovery. The prime minister, however, pointed to the incompleted legal environment as the reason hampering the digitalization process, while a lack of investment in digital infrastructure, including the mobile and fixed broadband internet speeds behind the world average, means it has failed to create … [Read more...] about People and businesses urged to take part in the digitalization: PM

It has also become the fifth largest economic community in the world, a reliable and important partner of countries, and played a central role in dialogues, important cooperation and connectivity in the region. In an article in celebration of ASEAN’s 55th birth anniversary (August 8, 1967 - 2022), Vietnamese Foreign Minister Bui Thanh Son recalled that the birth of ASEAN on August 8, 1967 was the start of the process of an intensive connectivity for peace, stability, and development in Southeast Asia and the region. Building an ASEAN Community with common vision and identities The grouping gathered countries divided by war. Its inception reflected the common aspirations of many countries in the region for peace, stability, friendship, and win-win cooperation. According to FM Son, Vietnam’s admission to ASEAN in 1995 paved the way for the building of an ASEAN common house connecting 10 Southeast Asian countries. In 1997, ASEAN, for the first time, approved the ASEAN Vision … [Read more...] about 55 years of ASEAN – One vision, One identity, One community

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency on August 8. - Prime Minister Pham Minh Chinh on August 8 described digital transformation as an important tool for the building of an independent and self-reliant economy and the extensive and effective integration into the world. He made the remark while chairing the third meeting of the National Committee on Digital Transformation in Hanoi. Read full story - Issues in the areas of public security and culture, sports and tourism will be the focus of the upcoming question-and-answer session of the 15th National Assembly (NA)’s 14th session on August 10, according to a freshly-released plan of the NA Standing Committee. Read full story - A delegation of the Royal Cambodian Armed Forces (RCAF) led by Lt. Gen. Hun Manet, Deputy Commander-in-Chief of the RCAF and Commander of the Royal Cambodian Army, is making an official visit to Vietnam. Following an official welcome … [Read more...] about ☕ Afternoon briefing on August 8