Vietnam Today

As part of its commitment to arrange $12 billion in sustainable development financing in Vietnam to 2030, HSBC has signed a letter on the assessment and provision of sustainable financial solutions for the Trungnam Group, to help it develop renewable energy projects throughout the country.

At a meeting with the President of COP26, Alok Kumar Sharma, Minister of Natural Resources and Environment Tran Hong Ha included the implementation of the NDC (Nationally Determined Contribution) in the Law on Environmental Protection 2020. The ministry is also developing a plan to cut methane emissions. The “National Strategy on Climate Change to 2050” is to be submitted to the Prime Minister, and includes realizing the goal of zero emissions by 2050.

Prime Minister Pham Minh Chinh has said that the opportunities for and development potential of the collective economy and cooperatives remain significant, especially agricultural cooperatives. Among the eight key tasks and solutions he has outlined include those to promote the application of science and technology as well as innovation.

Chairing the fourth meeting, on February 14, of the National Steering Committee for Reviewing the Implementation of Resolution No. 19-NQ/TW, issued by the 11th Party Central Committee on reforming land laws and policies, Prime Minister Pham Minh Chinh, who is Head of the Steering Committee, emphasized that amendments to the Land Law must be synchronized with existing laws and be in accordance with Vietnam’s political institutions. Specifically, the role of the market must be given much more consideration when making adjustments to land-related issues.

According to Minister of Planning and Investment Nguyen Chi Dung, the collective economy has developed over the past 20 years in terms of quality and quantity but its contribution to GDP has continuously fallen, from 8 per cent in 2001 to 3.62 per cent in 2020. Solutions are therefore needed to develop the economy in a sustainable manner, including strengthening international cooperation.

According to a report from HSBC, Vietnam’s inflation rate will increase to 3 per cent in 2022, up from its previous forecast of 2.7 per cent, but will not present a significant risk to the economy. Vietnam’s macroeconomy will improve this year. Retail sales rose 1.3 per cent year-on-year in January.