Vietnam Today

The Binh Son Refining and Petrochemical Joint Stock Company (BSR), which is responsible for receiving, managing, and operating the Dung Quat Oil Refinery Plan, has said that the refinery’s capacity has increased to 109 per cent to meet shortages in the petroleum market.

At the Vietnam Startup 4.0 Forum 2022 on October 19, Dr. Vu Tien Loc, Chairman of the Vietnam International Arbitration Center (VIAC), said that in order to help Vietnam escape from the "middle-income trap" and become a developed country, it is necessary to promote innovative startups and transformation. Vietnam has one of the top 3 most dynamic innovative startup ecosystems in Southeast Asia.

Deputy Prime Minister Le Van Thanh approved urban master planning tasks for 2045 and vision to 2065 on October 19. Central Thua Thien-Hue province is to become a centrally-run municipality by 2025, becoming one of Vietnam’s major centers for science and technology, high-quality education, and training by 2030, and a festival city and center of culture, education, tourism, and special health of Asia by 2045.

Vietnam ranks 60th in the world, fourth in Asia, and first in the ASEAN Parliamentary Union Council in terms of female participation in elected bodies. It also ranked third in ASEAN and 47th of 187 countries and territories participating in rankings on gender equality in political participation and management. The percentage of businesses owned by women stands at 26.5 per cent, ranking the country ninth out of the 58 countries and economies studied.

To promote the implementation of the government’s national target program on building new rural areas in the 2021-2025 period, the Ministry of Transport (MoT) will mobilize all resources to invest in the development of infrastructure and rural transport networks to complete rural transport works ahead of schedule.

The heat of inflation does not appear to be too significant in Vietnam, with the World Bank (WB) forecasting a rate of around 3.8 per cent for this year. However, factors such as fluctuations in energy prices, the end of policies supporting lower taxes, rising prices for public services, and higher wages will make controlling inflation more difficult.