- THE MOUTHPIECE OF THE VIETNAM ASSOCIATION OF SMALL AND MEDIUM ENTERPRISES
The government's economic recovery and development policy, as outlined in Resolution No. 11/NQ-CP of January 30, 2022, has had an optimistic impact on the result and operations of businesses.
Hanoi enjoyed a surge in exports-imports in the first five months of this year, signalling the capital city’s strong economic recovery, according to the municipal Statistics Office.
Socio-economic recovery and development have been seen in Ho Chi Minh City – the biggest economic hub in southern Vietnam, with strong growth in production and business activities.
The index of industrial production (IIP) in the first five months of 2022 rose by 8.3% over the same period last year, on top of May’s increase of 10.4% from a year earlier.
Since the COVID-19 pandemic has been basically put under control, Hanoi has determined that the improvement of investment and business environment is a key task to quickly recover and develop the economy.
Commercial banks are expecting to have higher credit growth limits in Q2 2022 as they have already used up most of their assigned quota this year.
The total tax collection in the first five months of this year is estimated at nearly 673 trillion VND (28.8 million USD), equivalent to 57.3 percent of the projection for the whole year and a year-on-year increase of 16.5 percent, according to the General Department of Taxation.
Commercial banks were told to launch a 40 trillion VND support package with a 2 percent yearly rate cut for businesses in a meeting with the State Bank of Vietnam (SBV) last week.
The Ministry of Industry and Trade (MoIT) will continue to coordinate with relevant ministries and sectors in supporting businesses to minimise impacts of trade remedies which may have an detrimental effect on Vietnam’s export activities.
GIZ has realized the enormous potential of the agrivoltaics model for Viet Nam, a country with large-scale agricultural production and increasing demand for electricity consumption to meet economic growth rates.
Free trade agreements (FTAs) spurred Vietnam’s bilateral and multilateral trade, with 2022 revenues projected to hit a record 750 billion USD, according to experts.
The business community and Board IV would like the Prime Minister to consider and direct ministries, branches, and localities to implement a variety of solutions in order to meet the expected goal of welcoming over 5 million international visitors. Vietnam in the year 2022.
Vietnam is one of just two nations in Asia-Pacific whose credit rating has been improved by S&P since the beginning of the year, as a result of the country's steady development over the years. Vietnam has a significant edge in attracting international investment flows.
To regulate the size of the domestic aviation sector, the Ministry of Transport need alternatives. As a result, it is important to limit the number of new airlines until the market recovers; in the near term, limit the licensing of further fleets until domestic carriers have exhausted all available aircraft, and the size of operation returns to that of 2019.
The State Bank of Vietnam issued Circular 03/2022/TT-NHNN directing commercial banks to implement interest rate support following the Government's Decree No. 31/2022/ND-CP dated May 20, 2022, on interest rate support from the state budget for loans to enterprises (enterprises), cooperatives, and business households.
According to the Ministry of Industry and Trade, the national petroleum management and administration database system went live on May 20.
The Ministry of Finance proposes that production and business organizations and individuals in Vietnam build, deploy, and apply the stamp of traceable electronic chips following government regulations and guidelines. of ministries, branches, and related agencies regarding the traceability of imported and domestically produced sugar.
Vietnam will have a total of 184 fishing ports, capable of handling approximately 3 million tonnes of fish annually, and 160 typhoon shelters for boats by 2050 under a plan drafted by the Ministry of Agriculture and Rural Development.
The S&P Global Ratings on May 26 raised its long-term sovereign credit rating on Vietnam to “BB ” with a “stable” outlook on the back of strong economic recovery, according to the Ministry of Finance.
Additionally-registered and share-purchased foreign direct investment (FDI) capital kept rising at 45.4 and 51.6 per cent on-year respectively in the first five months of the year, while newly-registered FDI inflows decreased by 12.3 per cent.