Vietnam Today

Speaking at a meeting with South Korean enterprises on March 25 in north-central Thanh Hoa province, Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu said the country is Vietnam’s largest investor, with 9,223 projects and total capital of $78.6 billion as of the end of December 2021. The two countries are working to increase bilateral trade turnover to $100 billion by 2023 and $150 billion by 2030.

At a conference between Prime Minister Pham Minh Chinh and State-owned enterprises (SOEs) on March 24, the Prime Minister directed the government to create an environment for development and improve institutions and policies to facilitate the development of SOEs. He also emphasized that SOEs need to promote their initiative in contributing to the country’s development.

On March 23, the National Assembly Standing Committee approved a Resolution on reducing the environmental protection tax on gasoline by 50 per cent from April 1 to December 31. The reduction is only applicable for the nine-month period so does not violate international commitments on the environment and will not increase greenhouse gas emissions.

During a telephone call between State President Nguyen Xuan Phuc and South Korean President-elect Yoon Suk-yeol on March 23, the two leaders agreed to promote close cooperation between the two countries in many fields and to raise bilateral trade to $100 billion in 2023 and $150 billion in 2030.

Under Resolution No. 42/NQ-CP issued by the government on March 21, by 2030, south-central Khanh Hoa province will become a city directly under the Central Government on the basis of bringing into full play the potential and advantages of its sea area, becoming a smart, sustainable city with an international identity and connectivity. It is also expected to become a center of international sea tourism and services.

The Prime Minister has approved the Finance Strategy to 2030, which emphasizes three breakthrough pillars: improving the quality of financial institutions to ensure completeness, synchronization, and integration; human resource development, science and technology and innovation; and promoting financial potential. Importance is given to the synchronous development of markets, economic regions, and enterprise types. The private sector is an important driving force of Vietnam’s economy.