Vietnam Today

The government will focus on implementing the pandemic prevention and control program and the program for socio-economic recovery and development during 2022, with three main tasks: restoring and promoting production and business, boosting exports, and accelerating the disbursement of public investment capital and mobilizing all resources to develop infrastructure, especially strategic infrastructure.

On January 8, General Secretary of the Communist Party of Vietnam Nguyen Phu Trong, State President Nguyen Xuan Phuc, National Assembly Chairman Vuong Dinh Hue, and Prime Minister Pham Minh Chinh welcomed Lao Prime Minister Phankham Viphavanh on an official visit to Vietnam. The two sides focused on exchanging measures to raise economic cooperation and promote links between the two economies, including infrastructure links and logistics development.

Minister of Planning and Investment Nguyen Chi Dung has told an extra-ordinary session of the National Assembly on January 7 that about 42 per cent of Vietnam’s economic recovery package will be implemented and disbursed in 2022 and the remainder next year. The government will also ensure transparency and anti-corruption in fiscal and monetary policies.

The Advisory Council has proposed that the Ministry of Health grant conditional circulation registration for three medicines from domestic producers containing Molnupiravir for Covid-19 treatment.

At a conference on January 6 on State budget tasks in 2021 and the plan for 2022, Prime Minister Pham Minh Chinh asked the financial sector to effectively manage budget revenue and expenditure this year, control public debt, and focus on combating tax losses and commercial fraud. The State budget deficit is estimated at 4 per cent of GDP this year, with inflation below 4 per cent. State budget overspending was more than VND315 trillion ($13.8 billion) last year.

At a government conference with localities on January 5, Prime Minister Pham Minh Chinh identified eleven risks and challenges in socio-economic activities this year, including economic restructuring, the budget deficit, bad debt risks, and inflationary pressure. He also spoke of measures to overcome difficulties and challenges, with it being necessary to continue to innovate, be creative, and take drastic and effective action.