Vietnam’s nominal per capita gross domestic product (GDP) is forecasted to reach $5,259 this year, allowing the country to overtake Indonesia and climb to fifth place in ASEAN, according to the International Monetary Fund’s (IMF) October 2026 World Economic Outlook report.
The Ministry of Finance estimated that the policy would reduce budget revenue by approximately VND6,700 billion (more than $260 million) over two years.
Within the framework of State President Nguyen Xuan Phuc’s visit to Cambodia on December 21 and 22, the two countries signed a series of cooperation programs and agreements. Investment cooperation has seen positive developments in the past, especially in relation to trade.
2021 has seen a strong breakthrough in the information and communications industry, moving the country towards digital transformation. And 2022 will be a year of further promoting digital transformation in all industries nationwide and implementing new strategies on digital infrastructure, data, digital technology, and digital technology enterprises.
Prime Minister Pham Minh Chinh signed a decision on December 21 to establish a National Steering Committee to implement Vietnam’s commitment at COP26 to reach zero emissions. The Steering Committee is a trans-disciplinary body, headed by the Prime Minister and with the Ministry of Natural Resources and Environment as the standing agency.
The Ethics Committee has concluded that the Nanocovax vaccine - Vietnam’s first Covid-19 vaccine - has sufficient data from clinical trials to evaluate its effectiveness. The Advisory Council can now issue licenses for the vaccine and its ingredients, and will consider and advise the Ministry of Health on granting conditional permits.
Post-Brexit and Covid-19, the government of the United Kingdom has been implementing a more open trade policy. This represents an opportunity for Vietnam and the UK to promote trade and business cooperation. Two-way trade turnover exceeded $6 billion in the first eleven months of the year, up 17 per cent year-on-year.
Prime Minister Pham Minh Chinh has noted that it is necessary to develop large industrial parks under the 5-in-1 model (the synchronous development of industry, services, smart cities, healthcare, and education infrastructure) in the north’s largest seaport in Hai Phong city, paying special attention to developing seaport and logistics infrastructure to build it into a regional hub.