Investment disbursement

The cost of tutoring high school students is the largest amount for family spending at 43%. Vietnam's investment in education has steadily increased over the past 10 years, accounting for 18% of total state expenditure. Le Anh Vinh, Director of the Vietnam National Institute of Educational Sciences speaks at the event. Photo: VNIES The information was revealed by Le Anh Vinh, Director of the Vietnam National Institute of Educational Sciences (VNIES) under the Ministry of Education and Training at the conference announcing the analysis report on Vietnam's education sector in the 2011 - 2020 period, which was organized by the Vietnam National Institute of Educational Sciences and UNESCO on August 8. Investment in education over the past 10 years was still lower than the targeted 20%. It was equivalent to 4.9% of the country's GDP, higher than many nations in the region, according to the report. The Ministry of Education and Training is facing many challenges … [Read more...] about Vietnam’s investment in education accounts 18% of total state expenditure

According to the municipal People’s Committee, the disbursement of public capital of a number of projects has lagged behind schedule, with some stagnant projects in the 2016-2020 period cancelled. Meanwhile, the demand for middle-term public investment remains huge. In March, the committee asked local departments, districts and investors to make updates and adjustments to the city's plan. Along with requesting local authorities to apply measures to speed up the progress of projects from all stages, municipal authorities have asked for the allocation of enough capital for underway projects, the adjustments of stagnant projects and the careful consideration of new projects to match the city’s capacity in resource balancing. In order to effectively implement the plan, the city asked local sectors, departments and localities to work closely together to deal with difficulties in the disbursement of public investment capital, while speeding up the progress of new projects. The … [Read more...] about Hanoi adopts five-year public investment plan

Sea dyke erosion always happens in An Minh District in Kien Giang Province. (Photo: SGGP) Mr. Le Quoc Anh, Vice Chairman of Kien Giang Provincial People's Committee, on August 8, said that he had signed and promulgated a project to prevent coastal and riverine erosion in the area from now to 2025 and orientation to 2030. Accordingly, the prevention of coastal and riverbank erosion should be carried out synchronously for both immediate treatment and long-term radical solutions associated with ecological environment protection, coastal mangrove forest protection and development, and creating livelihoods for local people. Kien Giang is a province with more than 200 kilometers of coastline, running through many districts and cities, such as Kien Luong, Hon Dat, An Bien, An Minh, and Rach Gia City. The coastal protection forest belt is extremely crucial as it is a green shield against natural disasters, protecting sea dykes from erosion and landslides caused by waves. In the plan of … [Read more...] about Kien Giang Province invests more than VND17 trillion to prevent erosion

For over a month now, relevant personnel at the Ministry of Transport is busy with the final preparations to soon hand over Khanh Hoa-Buon Ma Thuot Expressway to the people’s committees of Khanh Hoa and Dak Lak provinces. In light of Decision No.17/QD-TTg dated July 28, two out of three components under Khanh Hoa-Buon Ma Thuot Expressway will be assigned to two localities having the road passage for management. The 32km-long first component with an estimated investment value of $244.8 million will be assigned to Khanh Hoa's People’s Committee while the 48km-long third component valued at around $282 million will be assigned to Dak Lak's People’s Committee. The 37.5km second component with a value reaching $426.8 million will be managed by the Ministry of Transport (MoT) as the road section lies in both localities and features complex terrain. Building a comprehensive highway network is one of the government priorities With more than 117.8km of total length, … [Read more...] about Huge transport investment expected to vitalise central regions

According to the Ministry of Transport, the Ben Luc - Long Thanh Expressway construction project is invested by the Vietnam Expressway Corporation (VEC). The project has a total length of 57.8 kilometers, passing through Long An, Ho Chi Minh City, and Dong Nai provinces. The project's total investment is VND31.32 trillion, using loans from the Asian Development Bank, Japan International Cooperation Agency (JICA), and domestic reciprocal funds. According to the original plan, the project would be carried out from 2014 to 2019. However, during the implementation process, some mechanism and policy changes caused the project not to be allocated capital and have to halt construction from 2019. The Ministry of Transport had reported to the Government many times and regularly worked with relevant agencies, such as the State Capital Management Committee, JICA, and State Audit of Vietnam, to solve the project's problems. Up to now, the Politburo and the National Assembly have approved … [Read more...] about Ben Luc – Long Thanh Expressway project restarts in third quarter

In long term, transforming the higher education system will be key to boosting Vietnam’s productivity and helping achieve its goal of becoming a high-income country by 2045. Vietnam’s GDP growth is forecast to surge from an estimated 2.6% in 2021 to 7.5% in 2022, with backing from resilient manufacturing and a robust rebound in services. Overview of the event. Photo: Nguyen Tung Country Director for the World Bank in Vietnam Carolyn Turk revealed the figures at the launch of its bi-annual economic outlook for Vietnam titled “Taking Stock: Educate to Grow” today [August 8]. According to Turk, the global economy has been experiencing a series of very large and negative shocks, including ongoing Covid-19-related disruptions and supply shocks associated with the Russia-Ukraine conflict. In this context, Vietnam’s economy has shown “relative resilience and staged a strong rebound after last year’s Covid-19 induced slowdown,” Turk said. Vietnam’s economic … [Read more...] about Vietnam’s GDP growth set to expand by 7.5% in 2022: World Bank

Digitalization is seen as a major instrument for Vietnam to promote an independent and self-reliant economy. Businesses and people should be the main beneficiaries and the driving force for the national digital transformation, so the Government encourages them to take an active part in this process. Prime Minister Pham Minh Chinh at the meeting. Source: VGP Prime Minister Pham Minh Chinh stressed the goal during a meeting of the National Committee on Digitalization today [August 8]. According to Chinh, efforts from Government agencies and localities have been translated into strong progress in Vietnam’s digitalization and contributed to the socio-economic recovery. The prime minister, however, pointed to the incompleted legal environment as the reason hampering the digitalization process, while a lack of investment in digital infrastructure, including the mobile and fixed broadband internet speeds behind the world average, means it has failed to create … [Read more...] about People and businesses urged to take part in the digitalization: PM

At the conference In November 2020, leaders of the People’s Committees of seven localities signed an agreement on tourism development cooperation. The program will focus on state management of the tourism industry, the development of tourism human resources and tourist products, and tourism promotion. According to a report, seven cities and provinces received a total number of visitors of 17.7 million and earned VND63, 000 billion (US$2.7 billion) in tourism revenue in 2021. In the first six months of this year, the business outcome of tourism activities saw positive signs thanks to tourism reopening policies. The total number of tourists was estimated at around 32.9 million, including one million international visitors while the revenue from tourism was VND87, 900 (US$3.76 billion). Standing Vice Chairman of the People’s Committee of Quang Ngai Province, Tran Hoang Tuan speaks at the event. Speaking at the event, Standing Vice Chairman of the People’s Committee of … [Read more...] about North-Central-South tourism connectivity enhanced

At the press conference to release the report. (Photo: WB Vietnam) According to the latest economic update by World Bank (WB) for Vietnam, the country’s economy expanded 5.2 percent in Q4 of 2021, and respectively 5.1 percent and 7.7 percent in Q1 and Q2 of 2022. Inflation is projected to average 3.8 percent over the year. Carolyn Turk, WB Country Director for Vietnam, said that the bi-annual report “lays out a set of policy recommendations that could help mitigate the impact of these risks and make the economy more resilient going forward.” Titled “Taking Stock: Educate to Grow”, this edition underlines transforming the higher education system as the key to boosting the country’s productivity and achieving its development goals, in the context where the country re-emerges from the pandemic and into a challenging global environment. The report’s co-author Dorsati Madani said that while Vietnam’s economic recovery had been relatively stable, not all sectors witnessed the same … [Read more...] about Vietnam’s economic growth forecast at 7.5 percent in 2022: World Bank

“Thanks to the effective pandemic response and guided by the ASEAN Comprehensive Recovery Framework (ACRF) and its Implementation Plan, we have emerged safer, stronger, and more resilient as a community,” he said at the event, held by the ASEAN Secretariat at its headquarters in Jakarta to mark ASEAN’s 55th founding anniversary. ASEAN trade volumes have returned to pre-pandemic levels and the association’s economy is forecast to grow by 4.9% this year and 5.2% next year. “The entry into force of the Regional Comprehensive Economic Partnership (RCEP) earlier this year demonstrates ASEAN’s pivotal role in contributing to regional peace and growth, bettering the life of our people, and providing opportunities for all.” According to the Secretary General, in spite of these achievements, ASEAN must remain vigilant against the ever present risks to its recovery, including disruptions to the supply of key commodities, rising costs in food and logistics, and the economic slowdown in … [Read more...] about 55th ASEAN Day Celebration solemnly held