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Congratulations on Ireland National Day                                               AT A GLANCE

                                                         JANUARY INDEX UP 2.4%         INDUSTRIAL PRODUCTION
                               Vietnam’s industrial production index  textiles (8.8 per cent), and rubber and plastic products (8.1 per cent).
                               (IPI) rose 2.4 per cent year-on-year  Those recording falls in their index included beverage production
                               in January, according to the General  (2.7 per cent), the production of drugs, pharmaceutical chemicals,
                               Statistics Office (GSO). The manu-  and  medicinal  herbs  (3.6  per  cent),  electronics,  computers,  and
        facturing and processing industry, which accounts for over 70 per  optical products (5 per cent), wood processing and wood and bamboo
        cent of total industrial output, posted a yearly IPI increase of 2.8 per  product production (5.1 per cent), and crude oil and natural gas (9.7
        cent,  contributing  2.6  percentage  points  to  the  industrial  sector’s  per cent). Among key industrial products to post high IPI increases
        overall growth. Many industries enjoyed a surge in their IPI, such as  in January were alumina (35.7 per cent), bar and angle steel (30.3
        metal ore mining (21.9 per cent), the production of prefabricated  per cent), powdered milk (16.2 per cent), NPK fertilizer (15.6 per
        metal products (16.8 per cent), leather and related products (12.3 per  cent),  monosodium  glutamate  (15.4  per  cent),  processed  seafood
        cent), electrical equipment (11.5 per cent), clothing (11.4 per cent),  (13.8 per cent), automobiles (11.7 per cent), and fabric (8.7 per cent).

        With the theme “Restoring the Economy and Developing Supply  for enterprises, and providing them
        Chains in the New Normal”, the Vietnam Business Forum (VBF)  with assistance to gain easier access
        was co-hosted in Hanoi on February 21 by the Vietnam Chamber  to  funding  to  recover  production.
        of Commerce and Industry, the Ministry of Planning and Investment,  They also urged the simplification of
        the  World  Bank,  and  the  International  Finance  Corporation.  exit and entry procedures to facilitate the travel of workers and
        Various recommendations from business communities were put  experts,  and  the  effective  implementation  of  support  programs
        forward to revive and sustainably develop Vietnam’s economy in  offering training to people left jobless by the pandemic. They hope
        the face of the adverse impact of Covid-19. They suggested that the  to receive support to accelerate the application of information tech-
        government, ministries, and local administrations continue facilitating  nology in accessing public administrative services and make full
        access to information relating to support policies and regulations  use of preferential tariffs from free trade agreements.

                                             SAMSUNG TO BUILD NEW POWER PLANT               ENERGY PROVISION
                                  According to a report from the  February 2 by Samsung C&T saying it received an order from
                                  Vietnam News Agency (VNA),  the PetroVietnam Power Corporation to build the first combined
                                  the  Samsung  C&T  Corp.,  the  cycle power plant in Vietnam, and will form a consortium with
                                  construction unit of the Repub-  local  builder  Lilama  Corp.  to  build  gas  and  steam  turbines,
                                  lic of Korea’s Samsung Group,  heat recovery steam generators, substations, and power trans-
        has announced it has secured a power plant deal worth $510  mission lines for the plant. The company has yet to provide a
        million  in  Vietnam.  VNA  quoted  a  statement  released  on  timeframe for construction.

        The first locally-made Xelex tablets have rolled off the production  city”  with  a  digital  economy  and
        lines of Trung Nam Electronic Manufacturing Services at the Da  administration, he said, adding that
        Nang IT Park just two months after an agreement for the production  the first phase of construction of the
        of 100,000 tablets between the Trung Nam Group and the Xelex  20-ha Data center and R&D zone,
        Corporation was signed. Deputy General Director of the Trung  in partnership with Singapore’s Infracrowd Capital, will complete
        Nam Group, Mr. Nguyen Ngoc Thao, told the ceremony introducing  the  framework  of  the  Da  Nang  IT  Park.  Last  November,  the
        the first tablets on February 7 that it will put the first two plants  Trung Nam Group and Infracrowd Capital agreed to develop a
        into operation, with 20 surface-mount technology (SMT) lines, in  green data center - the first Tier 3 Plus standard facility - at the Da
        March, creating 2,000 jobs, while three other plants will be reserved  Nang IT Park, worth $100 million. The Group said it has completed
        to attract investment in electronics and telecommunications. The  the  first  investment  phase,  on  131  ha,  with  investment  of  $47
        first  manufacturing  lines  will  help  speed  up  the  digitalization  million,  while  the  second  phase,  on  another  210  ha,  will  be
        process in central Da Nang city, to make it soon become a “smart  continued with investment of $74 million.

                                               UNDP RELEASES PROGRAM DOCUMENT       ECONOMIC TRANSFORMATION
                                  The United Nations Development  gender-responsive  economic  transformation  by  2026,  based  on
                                  Program (UNDP) announced its  innovation,  entrepreneurship,  enhanced  productivity,  competi-
                                  Country Program Document for  tiveness, and decent work. They will also benefit from and contribute
                                  Vietnam  for  the  2022-2026  to  a  safer  and  cleaner  environment  resulting  from  effective
                                  Period and a financial package  mitigation and adaptation to climate change, disaster risk reduction
        worth over $120 million on February 4. The program aims to help  and  resilience  building,  the  promotion  of  a  circular  economy,
        the Vietnamese Government more quickly reach the UN Sustainable  clean and renewable energy, and the sustainable management of
        Development Goals, guided by the UNDP Strategic Plan’s three  natural  resources.  “With  the  UNDP’s  new  five-year  Country
        outcomes: shared prosperity through sustainable economic trans-  Program, we deepen our partnership with Vietnam to eradicate
        formation; climate change, disaster resilience, and environmental  persistent  poverty  and  develop  pathways  that  deliver  net  zero
        sustainability;  and  governance  and  access  to  justice.  People  in  carbon emissions and the Sustainable Development Goals,” UNDP
        Vietnam, especially those at risk of being left behind, will contribute  Resident  Representative  in  Vietnam,  Ms.  Caitlin  Wiesen,  was
        to and benefit equitably from a more sustainable, inclusive, and  quoted by the Vietnam News Agency as saying.                                                   MARCH 2022 | VIETNAM ECONOMIC TIMES | 5
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