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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).

VIETNAM BUSINESS FORUM HOST OF SUGGESTIONS PUT FORTH
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.

ELECTRONICS INDUSTRY FIRST LOCALLY-MADE TABLETS PRODUCED
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.

www.en.vneconomy.vn MARCH 2022 | VIETNAM ECONOMIC TIMES | 5