Vietnam Today

Loans for consumption, real estate, and build-operate-transfer (BOT) and build-transfer (BT) projects in transport have bad debt ratios higher than overall ratios, according to the Economic Committee of the National Assembly (NA). As bad debt pressure is predicted to increase, the Economic Committee has asked the government and the State Bank of Vietnam to offer guidance on credit flows.

The European Chamber of Commerce in Vietnam (EuroCham) announced at a press conference that it will organize the “Green Economy Forum & Exhibition (GEFE) 2022” from November 28 to 30 in Ho Chi Minh City, to support Vietnam in achieving its commitments at the UN Climate Change Conference (COP26) and the socio-economic development goals in the National Green Growth Strategy for the 2021-2030 period.

Deputy Prime Minister Le Minh Khai signed Decision No. 633/QD-TTg on May 23, approving the Accounting and Auditing Strategy to 2030. The strategy works to improve the quality of human resources and services in the sector, and targets that, by 2025, all enterprises and large-scale units will have their financial statements audited, regardless of their type of operations or form of ownership.

According to figures from the Vietnam Maritime Administration, the volume of goods passing through the country’s seaports reached 304 million tons in the first five months of this year, an increase of just 1 per cent year-on-year. Analysts believe that reasons for the low growth include the higher cost of shipping by sea, the Russia - Ukraine conflict pushing up the price of oil and then fuel and many types of raw materials, and China’s “Zero Covid” policy restricting travel and making trade difficult. Global shipping will continue to be delayed for the next few months.

Speaking online at a discussion on the Indo-Pacific Economic Framework for Prosperity (IPEF), held in Tokyo on May 23, Prime Minister Pham Minh Chinh emphasized that Vietnam has participated in many initiatives for international economic links and has actively contributed to accelerating economic recovery and sustainable development in the region and the world, and will work with ASEAN countries and related partners to continue discussing and clarifying the content of the IPEF’s pillars.

At the third session of the National Assembly (NA), 15th tenure, opened on May 23, NA Chairman Vuong Dinh Hue said, the legislature discussed key tasks and solutions for socio-economic development in the remaining months of 2022, especially those relating to fiscal and monetary policies. It will also continue to focus on instability in the currency, financial, securities, bond, and real estate markets both in Vietnam and abroad.