Vietnam Today

At a roundtable discussion with CEOs of some leading corporations and investment funds listed on the New York Stock Exchange (NYSE) on May 16, Prime Minister Pham Minh Chinh, who is paying an official working visit to the US, affirmed that Vietnam welcomes foreign investors in emerging industries and that the government has been introducing many measures to create a favorable and competitive business and investment environment.

Difficulties in determining the value of land use rights and planning are among the main bottlenecks facing State-owned enterprise (SOE) equitization and divestment in recent times. Minister of Finance Ho Duc Phoc has said that if shareholders convert land use purposes to construction projects or sell the company and close the factory, it may lead to less production and many workers becoming unemployed. Enterprises must still pay annual land rentals post-equitization, he went on, and retain the land use purpose. If they do not need to use the land, it should be returned to the State or auctioned by the State to change the purpose.

At a meeting with leaders of the United Nations on May 16, within the framework of his working visit to the US, Prime Minister Pham Minh Chinh requested the body provide technical and professional advice to Vietnam on establishing an energy transition partnership with G7 countries and also assist it in developing a climate finance mobilization strategy.

Standing Deputy Prime Minister Pham Binh Minh chaired a meeting on May 16 with nine ministries and branches that have seen slow disbursement of public investment. With disbursement during 2022 targeted at some VND700 trillion ($30.07 billion), Deputy Prime Minister Minh asked these ministries and branches to focus on removing obstacles and promoting disbursement to support economic recovery.

Prime Minister Pham Minh Chinh visited the New York Stock Exchange (NYSE) on May 16 and attended a roundtable discussion with CEOs of leading corporations and investment funds listed on the bourse. He expressed a hope that the NYSE would support the development of an effective and sustainable stock market in Vietnam. The PM also witnessed a ceremony for cooperation documents between Vietnamese and US partners.

In a phone conversation with the Deputy Managing Director of the International Monetary Fund (IMF) Antoinette Monsio Sayeh on May 16, Prime Minister Pham Minh Chinh, who is in the US on a working visit, asked that the IMF support and advise Vietnam in areas such as capital market development; inflation control; logistics development; technological innovation and digital transformation; supply chain diversification; combatting climate change; and energy conversion. Ms. Sayeh affirmed that the IMF is ready to support Vietnam.