Vietnam Today

The Aus4Reform Program, funded by the Australian Government, aims to support Vietnamese agencies in implementing their plans in economic restructuring and improvements.

Prime Minister Pham Minh held talks on November 13 with German Chancellor Olaf Scholz, who is paying an official visit to Vietnam. Chancellor Scholz emphasized that German corporations and businesses are increasingly interested in Vietnam, as the country has a stable political situation and a favorable business and investment environment.

Figures from the Ministry of Industry and Trade (MoIT) show that two-way trade turnover between Vietnam and the UK in 2021, the first year of implementing the UK - Vietnam Free Trade Agreement (UKVFTA), reached $6.6 billion, up 17.2 per cent compared to 2020. Vietnam’s exports came in at nearly $5.8 billion, up 16.4 per cent, while its imports from the UK stood at $849 million, up 23.6 per cent.

Figures from the Ministry of Agriculture and Rural Development (MARD) show that Vietnam exported 1.42 million tons of coffee in the first ten months of 2022, a 10.8 per cent increase year-on-year, for turnover of $3.22 billion, up 33.7 per cent. This is the highest increase in export volume for four years and a record high increase in turnover.

On November 10, at the ASEAN Business and Investment Summit (ASEAN-BIS) in Phnom Penh, Cambodia, Prime Minister Pham Minh Chinh affirmed that Vietnam contributes to the development of ASEAN and is willing to cooperate to promote digital infrastructure connectivity towards a region of equal and sustainable digital development. It also accompanies businesses in the ASEAN region and partner countries and strives to create the best conditions to make the most of business and investment opportunities.

The fourth session of the 15th National Assembly (NA) approved a Resolution on the socio-economic development plan in 2023 on November 10. Among other targets, GDP growth is to be 6.5 per cent, GDP per capita $4,400, and average CPI 4.5 per cent, with the rate of poor households to fall by 1-1.5 per cent.