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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.

RECOVERY & DEVELOPMENT GROWTH TARGET UNCHANGED
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.

TECH STARTUPS AUSTRALIA ADDS TO VENTURE FUNDING
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 www.en.vneconomy.vn