Business News

For Vietnam to realize its aspiration for reaching high-income status by 2045, the country will need to shift its economic growth model and sharply improve the government’s capacity to coordinate and implement economic policy reforms and public investments.

The consumer price index (CPI) in April rose 0.18 percent over the previous month and 2.64 percent year on year, according to the General Statistics Office.

Despite good performance in foreign investment attraction over the past year, the number of high-tech projects from developed countries investing in Vietnam is modest as compared to the incentives set forth.

The southern province of Kien Giang is calling for investment in 55 projects meant to cope with climate change and prevent natural disasters and coastal and riverine erosion.

Many banks have increased deposit interest rates by 0.1-0.6 percentage points amid the growing demand for funds. Last year the average interest rates on bank deposits for six months and 12 months were 4.7 per cent and 5.5 per cent, down half a percentage point from 2020, Bảo Việt Securities said.

Viet Nam recorded a trade surplus of 2.53 billion USD in the first four months of this year, doubling that of the same period last year, indicating continued recovery.

Vietnam has reached mutual recognition for COVID-19 vaccination certificates, called “vaccine passports”, with 20 countries so far, according to the Ministry of Foreign Affairs.

The State budget revenue totaled VND645.3 trillion in January-April this year, while the total spending was only VND470.2 trillion, resulting in a surplus of over VND175 trillion (over US$7.5 billion), according to the Ministry of Finance.