Topic: development

Building laws and perfecting institutions are among the strategic breakthroughs.

The Thanh Hoa Provincial People’s Committee has issued documents directing the strengthening of the management over and promoting the development of the local housing and real estate market, contributing to socio-economic development and ensuring social security and macro-economic stability. Besides the positive results, the development of the real estate sector still bears many shortcomings, limitations, and inadequacies, lacking sustainability and exhibiting risks. Thanh Hoa has therefore offered solutions to promote the safe, healthy, and sustainable development of the sector.

Blockchain technology will drastically change the future of the banking and finance industry by bringing a host of benefits in development.

Deputy Prime Minister Vu Duc Dam has directed ministries, branches, and localities to work closely with the Ministry of Information and Communications (MoIC) to speed up the promulgation of an open data list, to organize the development of plans, and to implement open data disclosure. According to the Ministry, open data is now attracting attention in many countries and territories.

The 44th Meeting of The ASEAN Ministers on Agriculture and Forestry (The 44th AMAF) took place online on October 26, hosted by the Lao Government. Minister of Agriculture and Rural Development Le Minh Hoan told the meeting that Vietnam is accelerating agricultural restructuring, transforming from “production thinking” to “economic thinking” and moving towards the values created by green transformation, green consumption, and the green economy.

Under the industrial development planning of the Mekong Delta’s Tien Giang province to 2020 and vision to 2030, it plans to have 27 industrial clusters on an area of over 1,000 ha. Five industrial clusters - Trung An, Tan My Chanh, Song Thuan, An Thanh, and Gia Thuan 1 - are now in operation on an area of nearly 159 ha.

Northern Hai Phong city has made great efforts over recent years to develop its transport infrastructure, seaports, and logistics in line with international trends. It has encouraged the development of the sustainable and effective eco-industrial park model, with industrial parks investing in environmental protection infrastructure that meet international standards.

Though Vietnam’s textile and garment industry ranks fourth in export turnover, its trade surplus is always the highest. However, the “3rd National Scientific Conference on Textiles and Footwear” on October 20 heard that technological innovation in the industry remains at a low level due to policy factors hindering the development of technology for it to better take part in global supply chains.

Out of a total of nearly VND273 trillion ($11.1 billion) in the medium-term capital plan for the 2021-2025 period, investment for the development of national railway infrastructure stands at more than VND15 trillion ($611 million), or 4.7 per cent.

HSBC believes that given it regularly invests heavily in infrastructure development, equal to 6 per cent of GDP each year, Vietnam is likely to lead the ASEAN region in this regard. To sustain strong economic growth and adapt to rising urbanization, the country needs to continue upgrading and expanding its existing infrastructure.