Vietnam Today

At the fourth meeting of the Joint Trade Committee between Vietnam and Thailand, held in Bangkok on April 20, the two sides agreed on a number of specific action plans to bring bilateral trade turnover to $25 billion. The trade balance has been in Thailand’s favor in recent years, so the two are aiming to make it more balanced and mutually beneficial. Bilateral trade turnover was $19 billion in 2021, up 17.9 per cent compared to 2020. It reached nearly $5 billion in the first quarter of this year, up 7.4 per cent year-on-year.

Deputy Prime Minister Le Van Thanh has approved the task of planning for the Red River Delta in the 2021-2030 period and vision to 2050, including all of Hanoi and Hai Phong city and the nine provinces of Vinh Phuc, Bac Ninh, Quang Ninh, Hai Duong, Hung Yen, Thai Binh, Ha Nam, Nam Dinh, and Ninh Binh. Planning towards the sustainable development of the Red River Delta is based on the main pillars of economy, social security, environmental protection, cultural heritage, climate change response, and national defense and security.

In a phone call with Italian Prime Minister Mario Draghi on April 20, Prime Minister Pham Minh Chinh asked that the country soon ratify the EU-Vietnam Investment Protection Agreement (EVIPA), urge the EU to quickly remove its “yellow card” on marine products from Vietnam, soon recognize its vaccine passports, and create favorable conditions for Vietnamese goods to access the country. Prime Minister Draghi affirmed that Italian businesses wish to invest in Vietnam in a host of fields.

Chaired by Prime Minister Pham Minh Chinh, the government meeting on April 19 agreed to propose that the National Assembly (NA) issue a new Resolution on removing difficulties and obstacles in planning work. Main contents include adjusting the planning schedule, in which a number of priority plans must be selected and completed soon to serve the country’s development, adjusting regulations on costs, and changing the content of national planning.

During his working visit to south-central Ninh Thuan province on April 17, Prime Minister Pham Minh Chinh encouraged it to identify measures to ensure rapid and sustainable development and become an attractive destination. With gross regional domestic product (GRDP) growth of 9 per cent, Ninh Thuan is currently leading the south-central coast and central coast in terms of economic growth and is fourth in the country. It also ranks first in the Index of Industrial Production (IIP).

With Vietnam’s economy facing many challenges from the Russia - Ukraine conflict, high commodity prices, and tightening monetary policy from the US Fed, VnDirect has lowered its GDP growth forecast for 2022 from 7.5 per cent to 7.1 per cent. However, it still believes that Vietnam will be among the fastest-growing economies in the Asia-Pacific region this year.