Vietnam Today

With a goal of becoming a “hub” attracting domestic and global private and corporate capital flows, Ho Chi Minh City will complete a roadmap for a project to become an International Financial Center in April. The steering committee for project preparation is being led by the city’s People’s Committee Chairman. US investors have pledged to pour $6 billion into the city since 2016 to build the Center.

Vietnam faced unprecedented challenges and limited resources in 2021, but with the involvement of the entire political system, led by the Communist Party of Vietnam, and the joint efforts, consensus, and support of individuals and the business community as well as international friends and partners, it posted remarkable results, Prime Minister Pham Minh Chinh told the annual Vietnam Business Forum.

At a meeting with Executive Vice President of the European Commission (EC), Mr. Frans Timmermans, on February 18, the Ministry of Agriculture and Rural Development (MARD) secured agreement on a range of issues, such as the process of removing the “yellow card” on seafood trade, operating a legal timber assurance system, and implementing the EU-Vietnam Free Trade Agreement (EUVFTA) in agricultural trade.

At a meeting with Mr. Frans Timmermans, Executive Vice President of the European Commission (EC), on February 18, Prime Minister Pham Minh Chinh suggested that Vietnam and the EU strengthen the exchange of delegations, in 2022, especially high-level delegations, and restore in-person meetings on cooperative mechanisms. He also asked that the EU create favorable conditions for Vietnamese goods to enter the bloc, especially agricultural products and seasonal fruit.

2.2 million doses of Covid-19 vaccine sponsored by the Australian Government arrived at Tan Son Nhat International Airport in Ho Chi Minh City on February 19. With this shipment, Australia has fully met its commitment to provide 7.8 million doses to Vietnam, of which 3.6 million have come through a procurement agreement with UNICEF and 4.2 million from its own supply since last August. The country is one of the leading supporters of Vietnam’s national Covid-19 vaccination campaign.

Mr. Tim Leelahaphan, an economist at Standard Chartered Bank, has predicted that Vietnam’s economy will recover from the end of the first quarter of this year. He expects GDP to reach 6.7 per cent in 2022 and 7 per cent in 2023. In the medium term, Vietnam will continue to be a favored destination of many businesses and an important part of the global supply chain.