Some news updates of significance from the Socialist Republic of Viet Nam.
- 2 September 2017 marked the 72nd National Day of Vietnam, there was a delegation of Party, State, National Assembly, Government and Việt Nam Fatherland Front Central Committee leaders paid tribute to late President Hồ Chí Minh at his mausoleum in Hà Nội on Friday.
President of Egypt Abdel Fattah el-Sisi will pay an official visit to Việt Nam next Wednesday and Thursday, according to the Ministry of Foreign Affairs. The visit comes at the invitation of President Trần Đại Quang. September 2nd marked the 54th year since two countries established diplomatic ties, with two-way trade hitting nearly US$400 million in 2014. Việt Nam and Egypt hope to increase bilateral trade to $1 billion in the future.
PM Nguyễn Xuân Phúc is pushing for lower tax and firms’ fees. According to PM Phúc, “Many enterprises reported that it takes great efforts to manufacture products but procedures to consume and export these products are more complicated. Some say that raising chickens takes only 40 days but it is more complicated and takes longer to consume and export chickens,” PM is urging many ministers and departments to increase its efficiency in administrative procedures to get businesses going. PM Phúc concluded, “Ministers must propose specific solutions for each sector to lift difficulties to boost and build social trust, contributing to general development of the economy,”
Is 6.7% growth still achievable for Vietnam in 2017? Scholars and experts are optimistic about 6.7% growth in GDP for Vietnam by the end of Q4. According to Dr. Phạm Hồng Chương, “With strategic reforms that support businesses to grow and boost consumption, 6.7% GDP is an easy target for Vietnam by the end of 2017. In addition, with reforms that are currently in placed to support businesses to attract FDI long-term, Vietnam will continue to be on the track as it learns to be the tiger of SouthEast Asia”
Vinfast (100% owned by VinGroup), with its goal to become the biggest automobile producer in Southeast Asia, officially announced its plan and laid out goals for the future on September 2nd. Vinfast is expected to increase its capacity to produce 500,000 cars by the year 2025. According to PM Nguyễn Xuân Phúc, “The production plant in Hai Phong will create 25,000 new jobs and contribute to the local GDP of Hai Phong”.
That's all for today!