Investments

Secretary-General To Lam met with a delegation of the US-ASEAN Business Council (USABC) this afternoon. The delegation was led by USABC Chairman and CEO Ted Osius, former US Ambassador to Vietnam.

A record number of American businesses are heading to Vietnam, demonstrating a commitment to fostering a stable and mutually beneficial trade relationship. In the field of artificial intelligence (AI), the focal point of collaboration between enterprises from both countries is to create the largest database ever, with the aim of building a truly Vietnamese AI model.

"Warning against potential adversaries, Chairwoman Tran Thanh Man emphasized the importance of vigilance during the government's ongoing streamlining revolution. She cautioned that hostile forces could exploit this period of change to foment opposition and spread false narratives."

"Domestic consumption and investment incentives currently contribute over 90% to GDP growth. With exports facing challenges, it is imperative to find solutions to stimulate and unleash these two drivers. However, as Dr. Can Van Luc, a renowned economist, points out, there is a prevailing issue of increasing money supply but slow velocity of money circulation. This results in a lag in the infusion of money into the market, hindering the desired growth trajectory."

Prime Minister Pham Minh Chinh has instructed the Government Inspectorate to complete an inspection report on the investment projects for the construction of the second campuses of Bach Mai Hospital and the Vietnam-Germany Friendship Hospital in the northern province of Ha Nam prior to March 31.

Rapid economic growth is pivotal for Vietnam to escape the middle-income trap, bridge the gap with advanced economies, and aspire to become a high-income nation in the next two decades. This is a legitimate aspiration. However, alongside the goal of rapid growth, we must be vigilant and proactive in addressing the potential drawbacks that this process may entail.

Prime Minister Pham Minh Chinh concluded the meeting of the Steering Committee for Science, Technology, and Innovation, Digital Transformation, and Scheme 06, emphasizing the need to accelerate national digitalization and develop a comprehensive digital citizen. He instructed an unlimited drive to cut and simplify administrative procedures, urging to do as much as possible. The Prime Minister also called for a decisive shift in mindset, from passively receiving and processing administrative procedures to proactively serving the people and businesses.

Delegates at the meeting believed that the mechanisms and policies for the private economic sector must be superior and breakthrough.

The plan to reorganize the communal-level administrative units is set to be completed by June 30, according to Minister of Home Affairs, Pham Thi Thanh Tra. The merger of provinces is also on the agenda and is expected to be finalized by August 30.

In mid-April, the National Assembly's Standing Committee will convene for an intensive session to address administrative boundary adjustments at the communal level. The session aims to reorganize approximately 60-70% of the remaining communes, setting a transformative agenda for efficient governance and improved administrative services.