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Congratulations on Chile National Day AT A GLANCE
STATE PRESIDENT PAYS VISIT TO NEIGHBOR VIETNAM - LAOS RELATIONS
State President Nguyen Xuan between the two countries. Following the talks, the two leaders
Phuc paid an official visit to witnessed the signing of 14 cooperation documents between
Laos from August 9-10 - his the two countries’ ministries, sectors, and enterprises in the
first overseas trip since becom- fields of defense, security, drug prevention and control, search
ing State President in April. and rescue, electricity trading, and mineral exploration, exploita-
During talks with Lao Party tion and processing. President Phuc also joined Secretary
General Secretary and President Thongloun Sisoulith, the two Sisoulith and Lao National Assembly Chairman Saysomphone
pledged to give the highest priority to further boosting the Phomvihane in co-chairing a ceremony to inaugurate and han-
great friendship, special solidarity, and comprehensive cooperation dover the Lao NA House as a gift from Vietnam.
GOVERNMENT & BUSINESS CONFERENCE TO SUPPORT ENTERPRISES HELD
An online conference between the government and representatives consumption, and supply chains
of enterprises, business associations, and localities nationwide and exports, difficult distribution
was held on August 8 with Prime Minister Pham Minh Chinh of goods, shortages of local and
as chair, to help businesses address problems and challenges foreign experts, and problems in
stemming from the pandemic and identify solutions to promote accessing support policies from the
production and business activities. Prime Minister Chinh said State. The Prime Minister asked related government agencies
his government always accompanies businesses and strives to and local administrations to accelerate various solutions in
seek solutions to remove the difficulties they face amid Covid- support of businesses, including anti-pandemic measures, tax
19. Participants pointed to difficulties such as shortages of pro- and fee exemptions and reductions, and ensuring the distribution
duction materials, rising transport costs, disruptions to production, of goods, etc.
US CDC OPENS REGIONAL OFFICE IN HANOI VIETNAM - US RELATIONS
US Vice President Kamala Har- wherever they occur and building key relationships to tackle
ris, who visited Vietnam on shared health priorities. “We welcome the US decision to open
August 24-26, launched the US this office in Hanoi to show the development and vast potential
Centers for Disease Control and of the Vietnam-US comprehensive partnership,” Deputy Prime
Prevention (CDC) Southeast Minister Pham Binh Minh told the opening. “Vietnam will
Asia Regional Office in Hanoi create every condition possible for the effective operation of this
on August 25. This is one of four CDC regional offices in the office.” Vice President Harris said: “In this new era, our world is
world, joining the East Europe/Central Asia office in Gruzia, interconnected and interdependent. Partnership is therefore
Georgia, the Middle East/North Africa office in Oman, and the essential. We must all be willing to take on the challenges
South America office in Brazil. It will strengthen the CDC’s together. Let’s take them on together to create opportunities
ability to meet its mission of protecting Americans and people together. That is why we launch this CDC office and our work
in the region by responding more rapidly to health threats together is so very important.”
FOREIGN INVESTMENT VIETNAM REMAINS ATTRACTIVE TO US INVESTORS
Vietnam remains an attractive destination for US investors in Google, Facebook, Ford, UPS, and
the Indo-Pacific, a webinar held recently by The Asia Group Walmart. Participants expressed
heard, according to a report from the Vietnam News Agency on their trust in Vietnam’s determi-
August 9. The webinar aimed to share business opportunities nation and effort to fight the pan-
and updates on the fight against Covid-19 and Vietnam’s demic and vowed to continue part-
economic prospects, and drew more than 40 executives and nering with the country. Several expressed an interest in specific
representatives from US firms in the fields of energy, finance, issues such as addressing differences in digital trade and con-
technology, and manufacturing, such as the Blackstone Group, sidering direct flights between the two countries.
GDP GROWTH TO AVERAGE 6.5-7% IN 2021-2026 ECONOMIC TARGETS
A government conference, the $4,700-$5,000 by 2025, over 25 per cent of GDP to be contributed
first of the 2021-2026 tenure, by processing and manufacturing, about 20 per cent of GDP to
was held online on August 11 be from the digital economy, about 45 per cent of growth to be
and chaired by Prime Minister contributed by total factor productivity (TFP), over 6.5 per cent
Pham Minh Chinh, with discus- of average annual growth to be made by social labor productivity,
sions focusing on how to imple- urbanization to be about 45 per cent, the ratio of agricultural
ment the 2021-2025 socio-economic development plan adopted workers in the total workforce to be about 25 per cent, the ratio
by the 13th National Party Congress and the 15th National of trained workers to be 70 per cent, of which those with degrees
Assembly’s Resolution. Twenty-three economic, social, and envi- and certificates is to reach 28-30 per cent, and the ratio of people
ronmental targets are set out in the plan, including 6.5-7 per cent having access to clean water to be 95-100 per cent and 93-95 per
average GDP growth over the five years, GDP per capita of cent in urban and rural areas, respectively, among others.
SEPTEMBER 2021 | VIETNAM ECONOMIC TIMES | 3