Vietnam Today

According to a report presented by the Ministry of Planning and Investment at the regular government meeting on December 2, the socio-economic situation continued to improve in November. Inflation was low while the currency market and exchange rate were stable. Compared to October, the CPI increased 0.32 per cent and the index of industrial production (IIP) 5.5 per cent. Credit growth reached 9.65 per cent. State budget revenue was more than 100 per cent of the annual estimate.

Efforts to reform electricity service procedures have contributed to improving Vietnam’s electricity access index, in which it ranks 27th out of 190 countries and economies worldwide and fourth in ASEAN.

Core inflation in November was 0.11 per cent month-on-month and 0.58 per cent year-on-year, and 0.82 per cent year-on-year in the first eleven months. According to an estimate from VDSC Securities, though inflation in 2022 will rise, it will be at a lower rate than the 4 per cent targeted by the government.

During his official visit to Russia, State President Nguyen Xuan Phuc held talks with President Vladimir Putin on November 30 in Moscow. Both agreed that trade and investment cooperation between the two countries still has a lot of potential for development, with oil and gas being a main pillar of the Comprehensive Strategic Partnership. They also agreed to soon reopen direct flights between the two countries.

The national strategy on green growth for the 2021-2030 period and vision to 2050 sets targets for the agriculture sector, with growth in workplace productivity to reach 5.5 to 6 per cent per year, while the proportion of agricultural workers in the workforce will fall to less than 20 per cent. Export turnover for agricultural, forestry, and fishery products is to exceed $60 billion by 2030.

At the ASEAN High-Level Forum on sub-regional cooperation for inclusive growth and sustainable development, held online on November 30, Prime Minister Pham Minh Chinh addressed three priorities in ASEAN sub-regional cooperation.