Gov't issues resolution on promoting economic growth, disbursement of public investment

The Government has issued Resolution No. 63/NQ-CP on key tasks and solutions to boost economic growth, disbursement of public investment and sustainable exports in the remaining months of 2021 and early 2022.

Son La mangoes exported to Australia: Twenty-five tonnes of green-skinned mangoes from Mai Son district, Son La province have just been exported to the Australian market. The export of the first batch of mangoes in this season to the Australian market affirms that Son La's mangoes are reputable and qualified to be exported to fastidious markets.

Construction of Long Thanh International Airport must be completed before Q2/2025: The investors will have to complete the four component projects of Long Thanh International Airport before March 31, 2025 so that the airport can begin pilot operations in the second quarter. The deadline was set by Minister of Transport Nguyen Van The for the first phase of the Long Thanh International Airport project. Accordingly, the pilot operation is expected to start in the second quarter of 2025 and commercial operations would start in Q4 of the same year.

Malaysia's KAB ventures into Vietnam's renewable energy market: Malaysia-based mechanical and engineering organisation Kejuruteraan Asastera Bhd. (KAB) has inked a deal with Janakuasa Pte., Ltd. via its wholly-owned subsidiary KAB Energy Power Sdn., Bhd. to enter Vietnam’s renewable energy market.

As reported by Focus Malaysia, KAB Energy Power and Janakuasa will form a special purpose vehicle to scoop up the majority stakes in three hydropower plant projects in the country with an aggregate installed capacity of 180MW. The projects have existing power purchase agreements (PPA) with Electricity of Vietnam (EVN) which will expire between January 2030 and 2039. They have commenced commercial operations between 2015 and 2019

Vietnam posts trade gap of US$1.47 billion in first half of 2021: Vietnam recorded a trade deficit of US$1.47 billion in the first six months of 2021, data released by the General Statistics Office shows. Exports were estimated at US$157.63 billion, up 28.4% while imports rose 36.1% to US$159.1 billion. In the first half of 2021, the United States was the largest buyer of Vietnamese goods, importing US$44.9 billion, followed by China and the EU, which purchased US$24.4 billion and US$19.3 billion worth respectively. Vietnam’s exports to other major trading partners, including ASEAN, the Republic of Korea and Japan were US$13.8 billion, US$10.5 billion and US$9.9 billion, respectively. On the import side, China was the largest source of Vietnamese imports at US$53.4 billion, followed by the Republic of Korea at US$25.2 billion and ASEAN at US$20.9 billion. Vietnam also imported US$10.6 billion worth of goods from Japan, US$8.1 billion from the EU and US$7.7 billion from the US.

Vaccine strategy determines economic recovery: Vietnam is accelerating the process of vaccination against COVID-19. The successful response, prevention and control of the pandemic will play a decisive role in macro stability and economic recovery in the remaining months of the year.Vietnam is entering its largest vaccination campaign in history with 150 million doses of the COVID-19 vaccine to be administered to 70% of the population, aiming to achieve herd immunity by the end of 2021 or early 2022.

IFC provides US$40 million to facilitate SMEs’ post-pandemic recovery: The International Finance Corporation (IFC), a member of the World Bank Group, is providing a US$40 million loan to help small and medium enterprises (SMEs) in Vietnam make a resilient recovery after the Covid-19 pandemic through the Southeast Asia Commercial Joint Stock Bank (SeABank). This is the first phase of an up to US$150 million financing package, which will help expand lending to SMEs, especially women-owned businesses, increase access to climate finance and boost international trade opportunities.

Over 67,000 new businesses established in first half of 2021: In the first half of 2021, Viet Nam recorded more than 67,000 new businesses with a total registered capital of VND942.6 trillion (US$40.84 billion), up 8.1% on year in the number of enterprises and up 34.3% in terms of the registered capital. This meant the average registered capital per newly established enterprise was VND14.1 billion (approximately US$611,000), representing an increase of 24.2% over the same period in 2020, according to the General Statistics Office (GSO).

Over the reviewed period, 26,100 firms resumed their operations across the country, up 3.9% on year.

Source: VNA/VNS/VOV/VIR/SGT/Nhan Dan/Hanoitimes