Investments

On the morning of August 24, Prime Minister Pham Minh Chinh chaired a specialized law-making session of the Government for the month of August 2024.

"The industry is highly competitive, with many businesses vying for a piece of the pie. However, Vietnam holds a significant advantage in this arena. With a burgeoning tech scene and a wealth of talent, the country is poised to become a powerhouse in this field."

On August 23rd, Kim Long Motor Hue Joint Stock Company held a groundbreaking ceremony for its new engine manufacturing plant in the Chan May - Lang Co Economic Zone, Thua Thien Hue Province. This marks a significant milestone as it is the first time Vietnam has been entrusted with cutting-edge technology to independently produce modern automotive engines and powerplants for other industries.

The People's Committee of Quang Binh province has named and shamed several units with a zero percent public investment disbursement rate this year. In a stern warning, the committee has stated that the heads of these units will be held accountable to the Provincial Party Committee and the People's Committee. They have also been cautioned that if funds are recalled, they will have to arrange alternative financing to complete their respective projects.

The country's transport infrastructure is predominantly focused on road networks, followed by maritime, aviation, inland waterways, and a relatively less emphasized investment in railways. To develop a rational transport infrastructure by 2030, with a vision towards 2050, the Ministry of Transport plans to prioritize investment in this mode of transportation in the coming years, leveraging the strengths of each transport mode.

The Ha Giang canal embankment in Giang Thanh district, Kien Giang province, is in a dire state. This 3km-long, 80 billion VND project was intended to protect against erosion, yet just over five months after its completion, it is suffering from severe erosion itself.

Vice Prime Minister Tran Luu Quang signed Decision No. 890 on August 22, 2024, enforcing disciplinary action against Mr. Tran Van Can, the former Chairman of the People's Committee of Long An province.

Prime Minister Pham Minh Chinh emphasized the importance of refining the institutional framework to mobilize all resources for national development, especially from the private sector. He stressed that public resources should lead and activate all social resources to achieve this goal.

"The Secretary-General of the National Assembly and Head of the National Assembly Office, Bui Van Cuong, has released a document outlining the proposed agenda for the 8th extraordinary session of the 15th National Assembly."

Vice Prime Minister Tran Hong Ha has requested that the Ministry of Public Security thoroughly review the list of 154 solar power projects forwarded by the Government Inspectorate. The deadline for this review is August 30, 2024, and the findings are to be reported directly to the Prime Minister.