Business News

The targets set for 2022, including the growth target of 6-6.5 percent, remain a huge challenge given the domestic and international situation, Deputy Prime Minister Le Van Thanh said at the third session of the 15th National Assembly in Hanoi on May 23.

According to the Việt Nam Association of Supporting Industries (VASI), to improve the capacity of Vietnamese enterprises, it is necessary to have supportive policies to reduce costs, easy access to credit and preferential interest rates for businesses in investment activities and production. There are also solutions for training and improvement of management.

1. Remittances to maintain upward momentum
2. Growth target of 6.5pct remains big challenge: deputy PM
3. Challenging situation need strong decisions
4. VN determinedly stops slow public investment projects
5. Excise tax payments extended for local auto firms
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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.