Vietnam Today

The Japan International Cooperation Agency (JICA) is working with the Institute of Strategy and Policy on Natural Resources and Environment (ISPONRE) to develop a national circular economy action plan for Vietnam. According to a survey it conducted in January, experts suggest three priority areas for the implementation of a circular economy in the country: industry, agriculture, forestry and fisheries, and services.

On July 6, at an extra-ordinary meeting, the National Assembly (NA) Standing Committee approved a Resolution on reducing environmental protection taxes on gasoline, oil, and grease. The Resolution will be effective from July 11 to December 31, 2022. In addition to tax reductions, NA Chairman Vuong Dinh Hue also suggested that the government study introducing supportive policies for those directly affected by rising prices.

The General Department of Vietnam Customs has said that its “5E” targets have now been completed: E-Declarations, E-Payments, E-C/O, E-Manifest, and E-Permits. Its E-C/O Form D has been exchanged with nine ASEAN countries. Vietnam Customs is striving for all procedures to be “paperless” and for AI, IoT, and big data to be applied in goods screening, customs supervision, and import and export business management.

According to the Ministry of Finance, total State budget revenue in June was estimated at VND114.3 trillion ($4.8 billion). Revenue in the first half reached about VND930 trillion ($39 billion), for 66.1 per cent of the annual estimate and increasing 18.8 per cent year-on-year.

On July 4, at the regular government meeting for June, Minister of Planning and Investment Nguyen Chi Dung reported that the macro-economy continued to be stable, GDP growth exceeded the scenario, and inflation remained stable. Development is under control and major balances are secure, which are appreciated by the international community. Production and business activities have recovered quickly. Disbursement of the economic recovery package has reached more than VND48 trillion ($2.054 billion).

At the regular government press conference on July 4, Deputy Minister of Planning and Investment Tran Quoc Phuong acknowledged the difficulties that faced Vietnam’s economy in the first half of the year, with two major issues being higher prices and labor shortages. He said the Ministry has assessed that inflation is not as serious in Vietnam as in European countries or the US, but the risks and pressures are still visible.