Vietnam Today

The European Commission (EC) will visit Vietnam at the end of October to assess the implementation of recommendations on illegal, unreported, and unregulated (IUU) fishing and aquaculture infrastructure. This is an opportunity for Vietnam to remove the IUU “yellow card” imposed by the EC. According to the “Prevention and combat against IUU fishing to 2025” project, which was recently approved by Deputy Prime Minister Le Van Thanh, all fishing vessels operating at sea must be equipped with cruise monitoring equipment.

Minister of Labor, Invalids and Social Affairs Dao Ngoc Dung met with Mr. Gen Nakatani, Assistant to the Prime Minister of Japan, on September 20 regarding issues of mutual concern between Vietnam and Japan, including the technical trainee program. Minister Dung proposed that Japan exempt residence taxes and income taxes for Vietnamese workers and interns. Of the nearly 500,000 Vietnamese now living and working in Japan, 370,000 are interns.

At an online conference with heads of Vietnamese representative agencies abroad on promoting economic diplomacy for national development, chaired by Prime Minister Pham Minh Chinh on September 19, ambassadors and heads of representative agencies made many recommendations on mechanisms, policies, measures, and resources to improve foreign affairs in general and economic diplomacy in particular.

On the sidelines of the Transforming Education Summit in New York on September 19, Minister of Education and Training Nguyen Kim Son held bilateral meetings with representatives from various organizations and companies. The World Bank (WB) committed to supporting many of the priorities in Vietnam’s education sector, Microsoft committed to helping the country promote digital transformation in education, and the US Department of Education said it is ready to partner with the Ministry of Education and Training.

The revised Law on Cooperatives will be submitted to the National Assembly (NA) for discussion at its October meeting. At a meeting on September 20, the NA Standing Committee said that with specific regulations on resource mobilization and State support, the amendments will contribute to promoting the development of cooperatives in a dynamic, efficient, and sustainable manner.

VinaCapital has made an optimistic forecast about Vietnam’s economic prospects and expects stock prices to increase in the years to come. It said the economies of Vietnam in the 2020s and Japan in the 1970s are remarkably similar, as both countries embarked on increasing global value chains decades later. VinaCapital also believes that FDI in support of the manufacturing sector is a driving force in Vietnam’s economy.