MPI to submit post-pandemic economic recovery scheme in October

 In October, the Ministry of Planning and Investment (MPI) will submit to the Government an economic recovery plan, which defines the years of 2022 to 2023 as the time for the country’s recovery, according to MPI Minister Nguyen Chi Dung

MPI to submit post-pandemic economic recovery scheme in October hinh anh 2

Minister of Planning and Investment Nguyen Chi Dung (Photo: VNA)

Addressing a recent virtual conference to devise socio-economic development plans and public investment in 2022 for the northern midland, mountainous region and the Red River delta, the minister underlined the need to promptly build a post-pandemic economic recovery programme to ensure the scheme can be implemented immediately after the pandemic is put under  control.

According to a MPI report, in 2021, the majority of northern localities have been greatly affected by COVID-19, preventing them from completing many economic goals.

The growth rate of the northern region, including the midland, mountainous and the Red River delta regions, is estimated to reach 7.04 percent in 2021.

Industrial production in the region has been struggling due to a shortage of materials as a result of restricted transport of goods, especially from China, India and the Republic of Korea.

 

In order to boost economic growth in the rest of the year, Minister Dung suggested that along with COVID-19 prevention and control efforts, localities in the northern midland, mountainous and Red River delta regions should speed up renovation and reform, while restructuring the economy and showing stronger performance in implementing three strategic breakthroughs, focusing on creating a smooth investment environment, and removing difficulties facing enterprises.

He also underlined the need to make forecast and build plans on economic development and medium-term public investment for the 2021-2025 period, while speeding up the process of provincial planning as well as relevant planning to lay the foundation for the implementation of investment projects.

Regarding the building of a socio-economic plan and public investment scheme for 2022, Minister Dung asked localities to concentrate on analysing the situation and the ‘new normal’ context, clarifying difficulties and problems, so that the ministry can summarise and report to authorised agencies for timely solutions.

The MPI leader suggested that regional localities pay greater attention to pointing out subjective and objective reasons behind existing problems related to regional connectivity and planning. Only by doing this work well can localities optimise their potential and advantages, he stressed./.

Source: VNA

 
 

Other News

.
Vietnam’s electric vehicle index announced for first time
Vietnam’s electric vehicle index announced for first time
BUSINESSicon  15/10/2021 

Vietnam’s electric vehicle index (EVI) has been announced for the first time, aiming to help enterprises in the value chain make decisions on production and business.

Remittances steady as lenders apply fresh transfer services
Remittances steady as lenders apply fresh transfer services
BUSINESSicon  15/10/2021 

Remittance flows from Vietnamese expatriates working abroad are predicted to remain resilient throughout the rest of the year, with the country’s central bank keeping its policy steady for now.

Haiphong to build free trade zone
Haiphong to build free trade zone
BUSINESSicon  15/10/2021 

The northern port city of Haiphong envisions setting up an inner-city free trade zone to drastically accelerate the city’s development.

Next six months vital for economic recovery: experts
Next six months vital for economic recovery: experts
BUSINESSicon  15/10/2021 

PM Pham Minh Chinh has chaired a webinar discussing Vietnam's measures in boosting post-pandemic economic recovery, adapting to the COVID-19 pandemic, overcoming economic disruption and strengthening locality-to-locality connectivity.

Govt projects GDP growth at 6%-6.5% next year
Govt projects GDP growth at 6%-6.5% next year
BUSINESSicon  15/10/2021 

The Government has targeted the country’s gross domestic product (GDP) growth at 6%-6.5% in 2022 despite the lingering challenges caused by the Covid-19 pandemic. 

Domestic groups move over to buyer’s side in M&A deals
Domestic groups move over to buyer’s side in M&A deals
BUSINESSicon  15/10/2021 

Vietnamese groups are becoming more active in acquiring other businesses, while overseas investors are seeing themselves hindered amid continued travel restrictions.

Bad debt trading platform to start operation
Bad debt trading platform to start operation
BUSINESSicon  15/10/2021 

The bad debt trading floor of Vietnam Asset Management Company (VAMC) is set to begin operation today (October 15).

More than $10 billion per year to develop the power sources and grid in the 2021-2030 period
More than $10 billion per year to develop the power sources and grid in the 2021-2030 period
BUSINESSicon  15/10/2021 

The demand for investment capital for the development of power sources and grids averages US$10-11.5 billion per year by 2030.

IMF forecasts Vietnam's GDP to see highest growth in ASEAN 5 group
IMF forecasts Vietnam's GDP to see highest growth in ASEAN 5 group
BUSINESSicon  15/10/2021 

The International Monetary Fund (IMF) has forecast Vietnam’s GDP to grow at around 3.8% this year, higher than that of its regional peers, Malaysia, Thailand, the Philippines, and Indonesia.

One-year EVFTA: major European investors pour billions of dollars into Vietnam
One-year EVFTA: major European investors pour billions of dollars into Vietnam
BUSINESSicon  15/10/2021 

The Government has reported to the National Assembly about the implementation of EVFTA (EU-Vietnam FTA) over the last year.

VN reports public debt reaches VND3.7 quadrillion, plans to borrow VND571 billion next year
VN reports public debt reaches VND3.7 quadrillion, plans to borrow VND571 billion next year
BUSINESSicon  15/10/2021 

The Government’s report says that if the GDP in 2021 is below expectations, this will affect state budget overexpenditures as well as the national public debt and foreign debt safety indexes.

Real estate market: regulations inconsistent, market in deadlock
Real estate market: regulations inconsistent, market in deadlock
FEATUREicon  15/10/2021 

Real estate firms are looking forward to a new document to settling legal bottlenecks which have caused the property market to come to a standstill for the last two years.

VN businesses prepare to weather the storms of Covid, adapt to new normal
VN businesses prepare to weather the storms of Covid, adapt to new normal
FEATUREicon  15/10/2021 

All businesses have to struggle hard to survive the pandemic. However, they are keeping calm and optimistic, because the ‘alluvium will come after the floods’.

Curbs fail to faze South Korean M&A
Curbs fail to faze South Korean M&A
BUSINESSicon  14/10/2021 

According to data from MergerMarket, which is a business development tool designed specifically for the M&A sector, South Korean investors have carried out 69 M&A deals in Vietnam since 2005, with a total value of $5.1 billion.

Inconsistencies deter power plan feasibility
Inconsistencies deter power plan feasibility
BUSINESSicon  14/10/2021 

Power source development in recent years has been at odds with load distribution, and many coal-fired power plants expected to operate in the last five years are behind schedule.

Vietnam vows to stamp out unregulated fishing
Vietnam vows to stamp out unregulated fishing
BUSINESSicon  14/10/2021 

The Vietnamese government is doing its utmost to prevent illegal, unreported, and unregulated fishing practices, helped along by moves in Europe to remove warnings on the country’s activities.

Gigantic lifeline en route for essential businesses
Gigantic lifeline en route for essential businesses
BUSINESSicon  14/10/2021 

In a bid to help the country recover after the economy grew at a very low level in the third quarter, a huge financial support package is to be offered to enterprises whose performance is a backbone of economic growth.

Bank loans rise despite pandemic
Bank loans rise despite pandemic
BUSINESSicon  14/10/2021 

Despite being strongly affected by the COVID-19 pandemic, bank loans in the first nine months of this year kept rising compared to the same period last year, deputy governor of the State Bank of Vietnam (SBV) Dao Minh Tu said.

VIETNAM BUSINESS NEWS OCTOBER 14
VIETNAM BUSINESS NEWS OCTOBER 14
BUSINESSicon  14/10/2021 

Ministry of Transport agrees to resume two more domestic air routes

GDP growth target is hard to reach: Minister of Planning and Investment
GDP growth target is hard to reach: Minister of Planning and Investment
BUSINESSicon  14/10/2021 

Minister of Planning and Investment (MPI) Nguyen Chi Dung calculated economic growth in the whole of 2021 at between 3 and 3.5 per cent, but also said such a target will be difficult to reach.

 
 
 
Leave your comment on an article

OR QUICK LOGIN