Vietnam Today

Optimistic about Vietnam’s economy recovering strongly after Covid-19, primarily due to greater exports and the recent return of foreign tourists, the World Bank (WB) has forecast that GDP could grow 7.2 per cent this year. It also forecasts that inflation will come in at 3.8 per cent this year and 4 per cent next.

State President Nguyen Xuan Phuc held talks with Japanese Prime Minister Kishida Fumio on September 26 in Tokyo, as part of his visit to the country to attend the State funeral of late Prime Minister Shinzo Abe. The two leaders agreed to strengthen cooperation in post-Covid-19 economic recovery, boost links between the two countries, consider promoting strategic cooperation in priority areas such as providing new generation official development assistance (ODA) to Vietnam, and developing high-quality human resources.

To promote the development of the science and technology market, the Ministry of Science and Technology (MoST) has proposed establishing three national technology exchanges in the country’s three regions, connected to local technology exchanges and technology exchanges in Asia and the world. Vietnam’s science and technology market is in its infancy and still depends mainly on technology from developing countries. Up to 75 per cent of technology and equipment at Vietnamese enterprises comes from overseas.

At the Horasis 2022 India Economic Cooperation Forum on September 26 in southern Binh Duong city in the province of the same name, Deputy Prime Minister Vu Duc Dam said that “through the Forum, we can jointly assess and carefully consider the impact of regional, inter-regional, and global issues with the prospects of recovery and comprehensive and sustainable development of Vietnam and India. In particular, we have a voice to strongly encourage the development of innovative solutions, going beyond the traditional way of thinking to achieve practical results in a context of the unpredictable.”

Analysts at JP Morgan have said that Apple is currently preparing to make Vietnam and India important manufacturing hubs globally for the Group. In the context of global supply chain re-establishment taking place on a scale not seen in decades, JP Morgan estimates that Vietnam will contribute 20 per cent of the total production of iPad and Apple Watch, 5 per cent of MacBook, and 65 per cent of AirPods by 2025.

On September 23, while attending the UN General Assembly in New York, Standing Deputy Prime Minister Pham Binh Minh held a bilateral meeting with Dutch Prime Minister Mark Rutte. He suggested that the Netherlands soon ratify the EU-Vietnam Investment Protection Agreement (EUVIPA) and together with Vietnam effectively implement the EU-Vietnam Free Trade Agreement (EUVFTA) to further strengthen trade and investment cooperation between the two countries.