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AT A GLANCE                                                            Congratulations on Greece Independence Day

                                                     10-YEAR STRATEGY APPROVED     AGRICULTURAL SUSTAINABILITY
                                   According  to  the  Strategy  for  The strategy also aims to improve incomes, quality of life, and
                                   the  Sustainable  Development  the stature of agriculture sector stakeholders, create non-agri-
                                   of Agriculture and Rural Areas  culture jobs to help rural residents alleviate poverty and ensure
                                   for  2021-2030  and  Vision  to  equal development opportunities between regions, comprehen-
                                   2050,  approved  by  the  Prime  sively  develop  rural  areas,  uphold  and  bring  into  play  the
                                   Minister  under  Decision  No.  national cultural identity, and combine agricultural and rural
         150/QD-TTg on January 28, Vietnam will develop cash crop  economic  development  with  new-style  rural  area  building.
         cultivation based on local advantages, with a focus on high pro-  Among the detailed targets for 2030, the agriculture, forestry,
         ductivity, quality, effectiveness, sustainability, and competitiveness,  and fisheries sector is expected to post growth of 2.5-3 per cent
         to guarantee national food security and socio-economic stability  each year on average, boost workplace productivity by 5.5-6 per
         and prevent natural disasters and respond to climate change.  cent, and increase exports by 5-6 per cent.

         According  to  the  socio-economic  recovery  and  development  supply of treatment drugs and med-
         program  adopted  under  a  government  resolution  on  January  ical equipment. He noted that the
         30, the average annual economic growth target of 6.5-7 per cent  program  aims  to  help  enterprises
         for  the  2021-2025  period  remains  unchanged.  Minister  of  with  recovery,  especially  those  in
         Planning and Investment Nguyen Chi Dung said that to meet  sectors hit hard by the pandemic, improve infrastructure, and
         the  target,  the  program  is  set  to  ensure  rapid  recovery  and  encourage investment in the public-private partnership (PPP)
         development and safe adaptation to the Covid-19 pandemic in  form. Public investment in strategic, key national infrastructure
         2022-2023, adding that economic reopening will be carried out  projects will be stepped up, he added, while greater effort will be
         firmly and safely under a roadmap that matches the country’s  made  in  reforming  administrative  procedures  and  improving
         strategy to fight the pandemic, its vaccination capacity, and the  the business environment.

                                          VIETNAM JOINS MULTILATERAL CONVENTION          ILLEGAL TAX PRACTICES
                                   Ambassador  of  Vietnam  to  the signing ceremony, OECD Deputy Secretary General Yoshiki
                                   France, H.E. Dinh Toan Thang,  Takeuchi welcomed Vietnam, together with Thailand and Lesotho,
                                   signed the Multilateral Conven-  to the Convention. Ambassador Thang affirmed that expanding
                                   tion to Implement Tax Treaty-  the tax base and preventing collection source erosion and profit
                                   Related Measures to Prevent Base  shifting is a focus in Vietnam’s tax reform strategy. He highlighted
         Erosion and Profit Shifting (MLI) on February 9 at the OECD  the significance of joining the MLI, as Vietnam has become co-
         Headquarters in Paris, thus making Vietnam the 99th member of  Chair of the OECD’s Southeast Asia Regional Program for 2022-
         the Convention. The MLI, or Multilateral Instrument, helps syn-  2025. The MLI was formed following an initiative from the OECD
         chronize and promote the effectiveness of nearly 3,000 bilateral  and  the  G20  countries  on  the  formation  of  a  project  on  base
         tax agreements of member countries and territories. Addressing  erosion and profit shifting (BEPS) prevention.

         The Australian Government has committed A$4.9 million ($3.53  by the pandemic, we know that Viet-
         million) for Ascend Vietnam Ventures to, together with additional  nam’s  fast-growing  economy  offers
         existing funding, mobilize up to A$70 million ($50.52 million)  tremendous opportunities for them to
         in  private  sector  investment  to  support  the  burgeoning  tech  realize their full potential. Providing
         startup market in Vietnam. Australian Ambassador to Vietnam,  seed funding to early-stage enterprises through our new investment
         H.E. Robyn Mudie, said the investment demonstrates Australia’s  with  Ascend  Vietnam  Ventures  will  help  create  new  jobs  and
         commitment  to  enhancing  the  capability  of  entrepreneurs  -  higher  incomes  as  the  economy  recovers  from  the  impact  of
         including women entrepreneurs - to scale their businesses and  Covid-19.” She added that the investment also supports priorities
         make a positive social and environmental impact. “Vietnam is  under the Australia-Vietnam Enhanced Economic Engagement
         one of the strongest economies in Southeast Asia, and the country  Strategy to double two-way investment, and adds to the support
         is an over-performer in women-led entrepreneurship,” Ambassador  Australia is providing to Vietnam to upgrade its capital markets
         Mudie said. ‘While women-owned businesses have been hit hard  from frontier to emerging status.

                                                    PROCEDURES TO GO PAPERLESS              CUSTOMS SERVICES
                                 According to a directive on enhanc-  will also step up connectivity and digital transformation through
                                 ing administrative reform and sim-  the national single window system. At the same time, efforts will
                                 plifying customs procedures, issued  be made to accelerate the implementation of an action plan to
                                 by the General Department of Viet-  promote the ASEAN single window mechanism, which is linked
                                 nam Customs on February 8, the  with the sector’s information technology system. The sector will
         customs  sector  will  introduce  solutions  to  reach  the  target  of  build digital customs platforms based on big data and bring into
         offering paperless customs services this year. All customs procedures  full play new technologies from Industry 4.0, to take the lead in
         nationwide are to be conducted on digital platforms. The sector  the government’s digital transformation plan.

         4 | VIETNAM ECONOMIC TIMES | MARCH 2022                                     
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