Vietnam Today

The size of the economic support package from the State budget is only equal to less than 3 per cent of GDP and should be raised to 5-7 per cent, Mr. Nguyen Minh Cuong, Chief Economist at the Asian Development Bank (ADB) in Vietnam, has said, in order to meet the needs of the country’s economy and to post positive results in economic development.

According to Mr. Nguyen Thanh Phong, Deputy Head of the Party Central Committee's Economic Commission, Vietnam’s economy lost about VND160 trillion ($7 billion) in 2020 because of the pandemic and an estimated VND346 trillion ($15 billion) this year. The total economic loss was VND507 trillion at 2010 constant prices and VND847 trillion ($37 billion) at current prices.

A draft amending and supplementing a number of articles in eight laws, including the Law on Public Investment, the Law on Investment in the Model of Public-Private Partnership, the Law on Investment, the Law on Bidding, and the Law on Electricity, among others, is expected to be submitted to the National Assembly (NA) in its December extra-ordinary session.

The issuance of corporate bonds, especially unsecured bonds, by certain enterprises and organizations has increased and holds potential consequences for Vietnam’s economy. The Office of the Government has therefore issued an Official Dispatch on strengthening the management, inspection, and examination of corporate bond issuances.

Vietnam committed to continuing to support and promote the implementation of the East Asian Seas Sustainable Development Strategy at the 7th EAS Ministerial Forum, held within the framework of the East Asian Seas Congress (EASC).

Over 125 million doses of Covid-19 vaccine had been injected into people aged 12 and older as of December 1. Among Vietnam’s population aged 18 years and older, 94 per cent had received one dose and 68 per cent two doses. The country has contracts for the supply of a total of 200 million doses. The remainder will arrive by the end of the year. Deputy Minister of Health Tran Van Thuan said this will be enough to administer booster shots.