Vietnam Today

A number of new socio-economic-related legal policies are set to take effect from September, including new regulations on calculating VAT on real estate transfers, foreign exchange management for bond issuances, and policies on the importation of automobiles for non-commercial purposes.

Prime Minister Pham Minh Chinh received Mr. Alok Sharma, Minister and President of COP26, who is visiting Vietnam, on August 29. The Prime Minister asked that development partners support Vietnam in building and developing a renewable energy equipment manufacturing industry and in compiling a map to accurately assess the potential of solar and wind power in different regions.

On August 29, the National Assembly (NA) Standing Committee held an extra-ordinary session to consider issues relating to the Socio-economic Development Restoration Program and the budget. Many NA deputies have assessed that implementation of the Socio-Economic Recovery Program has been slow due to many obstacles in need of resolution.

On August 28, at a meeting with leaders of Lao Cai province, Prime Minister Pham Minh Chinh spoke of key tasks and solutions in the time to come, such as making the most of Lao Cai’s identity and taking the Red River as the vertical axis for development, promoting digital transformation and closely coordinating with Chinese authorities to promote border economic cooperation.

Balancing urban development and limiting environmental impacts are among solutions to help Vietnam grow sustainably and achieve its climate change response goals. The development of green living spaces will help real estate prices increase.

In a phone conversation with Indonesian President Joko Widodo on August 25, Party General Secretary Nguyen Phu Trong outlined a number of major directions for the two countries’ relations to develop strongly and in a more substantive manner. He suggested that they promote economic cooperation, including balanced trade, to actively take advantage of the potential for cooperation in new fields.