RESHUFFLE UNDERWAY TO FURTHER STIMULATE REVIVAL OF ECONOMY
The 13th National Party Congress is expected to set the country’s average annual growth rate of 6.5-7 per cent from now until 2025, when Vietnam may become a higher middle-income nation. To this end, restructuring public investment and state-owned enterprises will be more critical in order to create a level playing field in the economy.
VN EYES STRONG RECOVERY FROM PANDEMIC THIS YEAR
Việt Nam's economy is likely to experience a strong bounce back in 2021 with GDP growing at 6.9 per cent in the best-case scenario in which the country able to secure significant FDI investment boosts coupled with a strong recovery of the global economy, according to a forecast by the Vietnam Institute of Economics (VIE).
HO CHI MINH CITY SEEKS INVESTMENT FOR SEVEN MAJOR PROJECTS
The projects include the second phase of the Metro Line No. 2, which connects Ben Thanh market with Thu Duc district’s Thu Thiem ward and Tham Luong to Tay Ninh bus station in Cu Chi district.
LONG-TERM DEVELOPMENT COMMITMENTS REALISED THROUGH STRATEGIC M&A MOVES
A potential rise in mergers and acquisitions is sparking concerns that local firms will lose competitiveness by selling themselves to foreign investors. However, experts believe that local businesses have more to gain than to lose by striking deals.
CIEM ISSUES TWO SCENARIOS FOR ECONOMIC GROWTH FOR 2021
The Central Institute for Economic Management (CIEM) introduced two scenarios for Vietnam’s economic growth 2021 during a seminar held in Hanoi on January 15.
ISSUED CIRCULARS DECLINE SHARPLY
According to the legal database on the government's website, in 2020, central authorities issued 546 legal documents, including 17 laws passed by the National Assembly, 158 decrees promulgated by the Government, 39 resolutions issued by the Prime Minister, 310 circulars adopted by ministers and other legal documents. The number of laws, decrees and the Prime Minister’s resolutions did not change a lot from previous years but the number of circulars dropped sharply (compared to 467 circulars in 2019).
HAI PHONG TARGETS US$2.5-3 BILLION OF FDI IN 2021
The northern port city of Hai Phong has set a target of attracting US$2.5-3 billion in foreign direct investment (FDI) in 2021, with priority given to industrial and service projects using modern and highly efficient technologies.
FDI VALUE REACHES US$28.53 BLN IN 2020
Foreign Direct Investment (FDI) registered in Vietnam hit US$28.53 billion in 2020 as of December 20, 2020, down 25% year on year, according to the Ministry of Planning and Investment. They disbursed US$19.98 billion of their registered value, down 2% year on year.
