Vietnam Today

The Ministry of Industry and Trade and Switzerland’s State Secretariat for Economic Affairs (SECO) have signed an exchange document on implementing the “Trade Policy and Export Promotion” (SwissTrade) project. Implementation is from 2021 to 2024 with total capital of CHF5.627 million ($6.5 million), of which grants from the Swiss Government total CHF5 million ($5.8 million).

The National Assembly (NA) is discussing a draft Resolution on piloting a number of specific mechanisms and policies for the development of cities and provinces around the country. Northern Hai Phong city and north-central Thanh Hoa and Nghe An provinces are allowed to decide on changes in the land-use purpose of rice-growing land under 500 ha. Nghe An and central Thua Thien-Hue province are allowed to borrow funding of up to 40 per cent of their budget revenue, and Hai Phong and Thanh Hoa up to 60 per cent.

A draft Law on Insurance Business submitted to the National Assembly (NA) on October 22 features amendments and supplements and new regulations, such as expanding the target customers of foreign investors and dividing types of insurance.

At the upcoming ASEAN Summit, Vietnam and ASEAN countries are expected to ratify the ASEAN Travel Corridor Arrangement Framework and discuss the possibility of forming agreements to facilitate essential movement in the region and the mutual recognition of electronic Covid-19 vaccination certificates. Vietnam will also contribute $5 million to the ASEAN medical supplies reserve.

The following six months is an important period for Vietnam’s economy to recover and develop, Mr. Kidong Park, acting United Nations (UN) Resident Coordinator said at a meeting between himself and heads of UN agencies in Vietnam and the Prime Minister on October 21. He also affirmed that the UN will continue to accompany and support Vietnam along the way.

The Ministry of Culture, Sports and Tourism has proposed a plan for reopening international tourism in three stages starting from November. By the third stage, in the second quarter of 2022, Vietnam’s tourism sector will have completely reopened to international visitors. Deputy Prime Minister Vu Duc Dam has requested that tourism be reopened quickly but insisted that safety be ensured.