Vietnam Today

On October 3, while receiving Ms. Era Dabla-Norris, Division Chief in the International Monetary Fund (IMF)’s Asia and Pacific Department, who is visiting Vietnam, Prime Minister Pham Minh Chinh proposed that the IMF actively support Vietnam in developing its green economy as well as energy transformation, renewable energy development, and digital transformation. Ms. Dabla-Norris expressed her appreciation of Vietnam’s monetary and fiscal policies and expressed confidence in a positive outlook for Vietnam’s economy despite the external shocks.

Vietnam is expected to become the tenth-largest global consumer market in the world by 2030, surpassing both Germany and the UK. Despite the global challenges, it is a standout in the region in terms of GDP growth. HSBC has therefore raised its GDP growth forecast for this year to 6.9 per cent.

The Ministry of Finance has sent an official dispatch to ministries, branches, and localities on accelerating the disbursement of foreign capital in 2022. The Ministry said disbursement of ODA and foreign concessional loan capital averaged only 15.48 per cent of the plan in the first eight months of this year, which is rather low. Average disbursement among localities was 11.5 per cent of the plan and among ministries and branches 22.94 per cent. Remarkably, six ministries and eight localities posted distribution rates of 0 per cent of the plan.

The sixth plenum of the 13th Party Central Committee opened in Hanoi on October 3 and is expected to last for a week. Many key issues will be discussed and decided on, such as Vietnam’s socio-economic development plan and State budget estimates for 2023, the State finance budget plan from 2023 to 2025, and the national master plan from 2021 to 2030 and vision to 2050.

A report from Brand Finance puts growth in Vietnam’s national brand value in 2022 at 11 per cent, rising from $388 billion to $431 billion. Vietnam has emerged as an attractive destination for foreign investment thanks to its successful fiscal and monetary policies as well as investment in human capital.

The government issued Decree No. 71/2022/ND-CP on October 1 amending and supplementing many articles in Decree No. 06/2016/ND-CP dated January 18, 2016, regarding the management, provision, and use of radio and television services. Domestic IPTV service providers will be able to compete equally with cross-border IPTV providers. The Decree will take effect on January 1, 2023.