Vietnam Today

According to Brand Finance, Vietnam’s national brand value has risen from $388 billion in 2021 to $431 billion in 2022, ranking it 32nd in the world, up one spot compared to 2021. Product branding is a task not just for businesses but also for the country. The branding of agricultural products needs to be associated with geographical indications, thereby creating differentiation and enhancing brand value.

The Ministry of Industry and Trade has worked with APEC members to hold the “APEC Workshop on Opportunities and Challenges for GVCs [global value chains] during the Covid-19 Pandemic and Post-Pandemic Economic Recovery” on October 13 and 14 in Hanoi. Analysts have proposed a range of solutions to overcome the risks from supply chain disruptions.

The Vietnam Chamber of Commerce and Industry (VCCI) held a ceremony on October 12 to celebrate Vietnam Entrepreneurs Day (October 13) and honor outstanding local entrepreneurs. Prime Minister Pham Minh Chinh told the gathering that the government will create favorable conditions for entrepreneurs and businesses in all economic sectors to gain equal access to development resources. The non-State economic sector will be given favorable conditions to participate in the implementation of projects and works via public-private partnerships (PPPs).

At a meeting on October 12, the National Assembly (NA) Standing Committee unanimously submitted to the legislature for consideration a proposal to allow Ho Chi Minh City to continue piloting its specific mechanism until December 31, 2023, and to introduce this content into the joint resolution from the fourth session of the NA, which is scheduled to start on October 20.

Standard Chartered Bank has raised its GDP growth forecast for Vietnam from 6.7 per cent to 7.5 per cent for 2022 and from 7 per cent to 7.2 per cent for 2023. While identifying inflation as a threat to economic recovery, the bank lowered its inflation forecast in 2022 from 4.2 per cent to 3.3 per cent, but in 2023 has increased it to 5.5 per cent. It also forecast that depreciation of the VND will slow in the months to come.

At a working session on the afternoon of October 11, the National Assembly (NA) Standing Committee discussed a government report on the implementation of the national target program on socio-economic development in ethnic minority-inhabited and mountainous areas in the 2021-2030 period. Minister and Chairman of the Committee for Ethnic Minority Affairs Hau A Lenh suggested that it is necessary to prioritize removing obstacles in mechanisms and policies in the process of organizing and implementing the program at all levels. He added that guiding the implementation of investment activities to ensure timely and correct planning should also be focused upon.