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Dang Xuan Quang, deputy director general of NCIF under the MPI In 2022, Vietnam outperformed other countries in the region following a rebound in consumer spending, several quarters of robust export growth, and the gradual return of international tourism. GDP growth in the third quarter of 2022 exceeded all forecasts, estimated to increase by 13.67 per cent on-year, bringing GDP growth in the first nine months of 2022 to 8.83 per cent. Inflation was still below the annual target (4 per cent per year). However, a global slowdown and heightened risks of financial instability could weigh on growth in 2023 and 2024. This was the focus of the 2 nd Vietnam Economic Pulse forum, which took place in Hanoi today (November 22) on the topic: “Extending Economic Recovery – Growth Drivers” with the participation of government officials, development partners, business leaders, and scholars. The forum was jointly organised by the National Center for Socio-Economic Information and … [Read more...] about Sustaining economic recovery and prospects for growth in 2023

At the workshop (Photo: nhandan.vn) Hanoi (VNA) – Supervision mechanism to ensure compliance of integrity of judicial professionals was the main topic of a workshop in Hanoi on November 23. The event was co-organised by the Party Central Committee’s Commission for Internal Affairs, the United Nations Development Programme ( UNDP ) and the EU Delegation to Vietnam. In his opening remarks, deputy head of the Commission for Internal Affairs Nguyen Thanh Hai stressed that the compliance of integrity is significant to ensuring a pure, strong judicial system, and supervision is to ensure integrity compliance. The Vietnamese Party and State have issued a resolution on continuing to build and perfect a rule-of-law socialist State in the new period, he said, adding that opinions raised at the workshop are meaningful in terms of both theory and reality. EU Ambassador to Vietnam Giorgio Aliberti said “Legislation and regulation is one thing and actual implementation is … [Read more...] about Workshop looks into integrity compliance of judicial professionals

Attending the ceremony were representatives of the Norwegian Embassy in Hanoi, the UNDP, the Vietnam Administration of Seas and Islands, and the Vietnam Meteorological and Hydrological Administration. This new technical assistance package will support the Vietnamese government in strengthening and implementing maritime spatial planning (MSP). It will also assist in creating and establishing a more rational use of marine space and the interconnections between its uses, balancing the need for growth with the need to maintain marine ecosystems and achieving social and economic goals in an open and organised manner. The UNDP and the Norwegian Embassy in Hanoi cooperate to enhance ocean sustainability and climate change response in Vietnam This endeavour aims to promote a cross-sectoral approach to the management of economic, environmental, and social concerns with strategic planning and long-term investments. The MSP is not intended to replace sector-specific planning. … [Read more...] about Enhanced cooperation for ocean sustainability and climate change

The Vietnam Chamber of Commerce and Industry (VCCI) and the United Nations Development Programme (UNDP) in Vietnam last week launched a set of strict standards for Vietnam to select high-quality foreign direct investment (FDI). Screening tool to bump up FIE quality-illustration photo, photo Shutterstock The new tool, known as the Foreign Investment Screening Instrument, comes at an opportune moment, as the government has identified responsible investment as one of the five priority areas of Vietnam’s National Action Plan on Responsible Business Practices. “Localities in Vietnam will now have this tool at their disposal. It can provide practical, evidence-based information to promote responsible business and sustainable development when deciding on whether to approve incoming investments,” said Dau Anh Tuan, vice general secretary of the VCCI. The screening instrument consists of eligibility, risk, and alignment assessments. These provide flexibility to local … [Read more...] about Screening tool to bump up FIE quality

The conference created opportunities to exchange practical experiences, innovative solutions, and the development of new applications to promote sustainable values, thereby fostering sustainable business communities across all sectors, industries, and fields. At the event opening, Le Trong Minh, VIR editor-in-chief, said that ESG (environment, society, and governance) were three majors in developing a sustainable economy in the context of a fast-moving world with increasingly strong commitments and strict regulation, it is necessary for businesses to study and build good strategies to catch up with the trend. “Recent major studies around the world have shown that more and more governments, businesses, and investors are interested in ESG in the world. The discussion at today's conference will surely bring us practical solutions, and valuable experience to clarify this issue,” added Minh. Le Trong Minh, VIR's editor-in-chief, speaking at the event Patrick Haverman, … [Read more...] about ESG key to sustainable development: conference

A new report by Youth Co:Lab. surveying over 1,000 young social entrepreneurs across 25 markets in the Asia Pacific has highlighted climate change as a global emergency, placing the spotlight on how this group is taking bold steps to address climate challenges. Those surveyed were increasingly involved with developing climate solutions and working with organisations that were taking action to minimise the negative environmental impact of their operations. The report found that 85 per cent of young social entrepreneurs faced challenges in advancing climate action. Among this group, access to adequate financial resources emerged as the biggest obstacle to advancing climate action, with 68 per cent of respondents identifying it as a challenge. A lack of connection to relevant partners and absence of education and training were the second and third biggest obstacles per 55 per cent and 46 per cent of respondents, respectively. Despite the challenges, young social … [Read more...] about Asia Pacific social entrepreneurs call for stronger systems to address climate risks

Delegates to the forum (Photo: VNA) Hanoi (VNA) – The ASEAN Law Forum took place in Hanoi on November 17, focusing on sharing experience in the implementation of mutual legal assistance in civil and commercial matters within the framework of The Hague Conference on Private International Law (HCCH). Opening the forum, Deputy Minister of Justice Nguyen Khanh Ngoc said that the forum is part of a plan to implement the initiative to strengthen mutual legal assistance in civil and commercial matters within the ASEAN, which was proposed by Vietnam and approved by the ASEAN justice ministries in 2005. He highlighted the rise in legal issues and efforts of ASEAN countries in promoting international judicial cooperation as well as adjusting their domestic laws regarding international justice to meet their own development requirements. Ngoc held that in implementing the Vietnam’s initiative, ASEAN members have recognised the necessity to study and consult other international … [Read more...] about ASEAN strengthens mutual legal assistance, cooperation

Illustrative image (Photo: VNA) Hanoi (VNA) – The second Vietnam Economic Pulse 2022 Forum , themed “Extending Economic Recovery – Drivers for Growth”, was held in Hanoi on November 22. Co-hosted by the Ministry of Planning and Investment ’s National Centre for Socio-Economic Information and Forecast (NCIF), and the United Nations Development Programme (UNDP), the event aimed to look into the process of post-pandemic economic recovery and policies to maintain growth and development in the coming years. Several delegates at the event said despite impressive economic prospects this year, risks remain, mostly related to external factors. In 2022, the Vietnamese economy outperformed others in the region thanks to consumption recovery, strong exports and resumption of international travel. In the third quarter, GDP growth beat all forecasts to reach 13.67% year-on-year, bringing the nine-month growth to 8.83%. Inflation was under control, at 4%. However, the slowing … [Read more...] about Drivers for growth highlighted at Vietnam Economic Pulse 2022 Forum

Distinguished guests discuss the economic prospects of Viet Nam's economy. — VNS Photo Le Viet Dung Viet Nam's economy has rebounded strongly from the last quarter of 2021 with retail spending growth of 15 per cent annually, indicating that households are in a better financial position, according to Ramla Khalidi, Resident Representative of UNDP in Viet Nam. Khalidi was speaking at the Vietnam Economic Pulse Forum on November 22. The representative said risks to economic recovery were exclusively external. The Russia-Ukraine conflict, the economic slowdown in China, the rising of international interest rates, the strengthening of the dollar and the growing risk of recession in Europe would affect demand for Vietnamese exports and increase the risk of macroeconomic instability. "Policymakers will need to remain vigilant and adjust fiscal and monetary policies in a timely manner as global conditions evolve," said Khalidi. Francois Painchaud, IMF Resident Representative for … [Read more...] about Households in a better financial position, but external risks remain

These are some of the topics to be discussed at the Vietnam Economic Pulse (VEP), an economic forum organised by the Ministry of Planning and Investment (MPI) and the United Nations Development Programme (UNDP). The meeting on November 22 is to address the post-pandemic economic recovery and policies to sustain growth and development for the coming year. Ramla Khalidi - Resident representative United Nations Development Programme VEP was launched last year by the MPI’s National Centre for Socioeconomic Information and Forecasting and the UNDP to create a new forum for informal discussion of economic issues in Vietnam, encompassing perspectives from business and academia alongside government and development partners. Each session includes an analysis of recent economic developments, contributions from experts on emerging concerns, and an open discussion of the major economic issues of the day. In October, the International Monetary Fund raised its 2022 growth forecast … [Read more...] about Navigating multiplied risks to ensure a brighter economy