Prime Minister Nguyen Xuan Phuc concludes his official visits to Russia, Norway and Sweden and State Bank of Vietnam speaks about the listing of Vietnam by the US as one of the countries needed to be monitored are the most prominent information in the week.
Prime Minister Nguyen Xuan Phuc concludes his official visits to Russia, Norway and Sweden
On May 28, 2019, Prime Minister Nguyen Xuan Phuc, his wife and the high-ranking delegation of Vietnam left Airport Arlanda, Stockholm, for home, concluding his official visit to the Kingdom of Sweden at the invitation of Swedish Prime Minister Stefan Lofven.
Prime Minister Nguyen Xuan Phuc makes official visit to the Kingdom of Sweden at the invitation of Swedish Prime Minister Stefan Lofven.
During his stay in Sweden, Prime Minister Nguyen Xuan Phuc held talks with Swedish Prime Minister Stefan Lofven; made a cordial visit to Swedish King Carl XVI Gustav and had an audience with Riksdag Speaker Andreas Norlen.
At the talks with Prime Minister Stefan Lofven, Prime Minister Nguyen Xuan Phuc asked Sweden to support the development of the comprehensive relationship between Vietnam and EU. The two Prime Ministers unanimously agreed to coordinate to promote the signing of the Free Trade Agreement between Vietnam and EU (EVFTA) in the coming weeks and quickly ratify it and implement it so as to be able to bring benefits to all the parties concerned and make a contribution to strengthening the trade and investment relations between Vietnam and Sweden. The Swedish Prime Minister handed a Letter of Intent on Investment Credit of over USD 2 billion in Vietnam.
The two Prime Ministers attended and spoke at the Vietnam-Sweden Business Forum and witnessed the signing ceremony of the cooperation documents of the enterprises of the two countries.
This visit by Prime Minister Nguyen Xuan Phuc to Sweden was made right on the 50th anniversary of establishing the diplomatic relations between the two countries. Among the Western countries, Sweden was a bright example of the spirit of disinterested solidarity and enthusiasm towards Vietnam and was the first Western country that had established the diplomatic relationship with Vietnam and Sweden had always accompanied with Vietnam through the half past century teemed with the ups and downs of history.
On the morning of May 29, Prime Minister and his wife together with the high-ranking delegation of Vietnam arrived in Hanoi, concluding the fine official visits to Russia, Norway and Sweden on May 20-28, 2019./.
Cambodian President of National Assembly makes official visit to Vietnam
A high-ranking delegation of the Kingdom of Cambodia led by President of the National Assembly Samdech Heng Samrin made an official visit to Vietnam on May 28-30, 2019 at the invitation of Chairwoman of the National Assembly Nguyen Thi Kim Ngan.
Chairwoman of the National Assembly Nguyen Thi Kim Ngan receives President of the National Assembly of the Kingdom of Cambodia Samdech Heng Samrin
After the official welcoming ceremony, the two Presidents of the National Assemblies held talks.
On behalf of the National Assembly of Vietnam, Chairwoman of the National Assembly Nguyen Thi Kim Ngan congratulated Samdech Heng Samrin for his being elected the President of the National Assembly of the new term.
At the talks, the two Presidents of the National Assembly highly appreciated the bilateral cooperation in the Party, Government and National Assembly channels in recent time.
The two leaders unanimously agreed to boost further the cooperation in the economic, trade and investment fields, especially aim to reach turnover of USD 5 billion in 2020.
As far as the plantation of border markers is concerned, 84% of the work has now been completed and the two sides have exchanged opinion on the legal documents to take note of this achievement. The two sides should also coordinate better so as to be able to soon complete the drafts and organize the signing ceremony of these documents. Chairwoman of the National Assembly Nguyen Thi Kim Ngan proposed that the two sides should continue to find the fiar and reasonable solution so as to complete the boundary delimitation and marker plantation at the portions that are yet to have the boundary delimitation and market plantation so as to build the Vietnam-Cambodia border line into the border line of peace, stability, friendship and cooperation for mutual development.
President of the Cambodian National Assembly Heng Samrin affirmed that Cambodian has always given its strong support to the Vietnamese enterprises and is paying attention to the supply of alien cards in accordance with the Cambodian law.
After the talks, Chairwoman of the National Assembly Nguyen Thi Kim Ngan and President of the National Assembly of Cambodia signed an Agreement on cooperation between the two National Assemblies and witnessed the signing ceremony of the Memorandum of Understanding (MoU) on cooperation between the office of the Vietnamese National Assembly and the Secretariat of the Cambodian National Assembly.
In the evening, Chairwoman of the National Assembly Nguyen Thi Kim Ngan hosted a banquet in honor of President of the Cambodian National Assembly Heng Samrin, his wife and the high-ranking delegation of the National Assembly of the Kingdom of Cambodia./.
State Bank of Vietnam raises its voice concerning the US listing Vietnam among countries being monitored
The US Department of the Treasury on May 29, 2019 released the report on “Macroeconomic and Foreign Exchange policies of major trading partners of the United States”, and Vietnam is on the “Monitoring List” of countries.
Headquarters of the State Bank of Vietnam
The “Monitoring List” that merits close attention comprises China, Japan, the Republic of Korea, Italy, Ireland, Singapore, Malaysia and Vietnam.
Vietnam is on the monitoring lists when it satisfies two criteria on the bilateral trade surplus with the US and the current account surplus. The US Department of the Treasury will follow information and data on trade, current account, macroeconomic and monetary policies of Vietnam, if necessary, in the coming time.
The State Bank of Vietnam will coordinate with the concerned ministries and branches to exchange and work on the issues being interested by the US Department of the Treasury, at the same time it will continue to operate the monetary policy in order to control inflation, stabilize macro economy, support the reasonable economic growth and operate the flexible rate in conformity with the market development at home and abroad in a bid not to create the unhealthy competitive advantage in international trade./
Administrative reform index 2018 made public
The Steering Board of Administrative Reform of the Government has just published the Administrative Reform Index and the Satisfaction Index on administrative services in 2018.
The PAR INDEX of the Transport Ministry is the lowest with a value of 75.13%
The administrative reform index of the ministries, ministerial sectors, People’s Committees of provinces and cities under the Central Government (PAR INDEX 2018) have been judged in 18 ministries and sectors and 63 provinces and cities nationwide.
The result: the first group: 80%, including 14 ministries and sectors; the second group: over 70% and under 80%, including 4 ministries.
The State Bank of Vietnam reached the highest PAR INDEX, 90.57% and the Transport Ministry, the lowest: 75.13%.
As for provinces and cities under the Central Government, 29 localities have obtained the results higher than average, in which 9 localities reached the results of 80%; 60/63 localities obtained the result of 70%. Quang Ngai Province continues to top the list with the result of 89.06%; Hanoi ranks the second with 83.98%. Phu Yen Province is placed at the bottom of the list with the result of 69.53%.
In terms of the Satisfaction Index (SIPAS), the highest index is put at 97.88% and the lowest index is 69.98%. In general SIPAS in 2018 sees an increase of 2% as against that in 2017. Son La Province tops the list of SIPAS and Ha Giang, Cao Bang and Binh Dinh provinces have the lowest SIPAS./.
Retired age is proposed to increase
On May 29, 2019, the Ministry of Labor, War Invalids and Social Affairs presented to the National Assembly a report on the draft Labor Code (amended)
Ms Nguyen Thuy An, Chief of the Committee of Social Affairs of the National Assembly
According to this draft law, male laborers’ retired age will be increased to 62 and female laborers’ retired age to 60. There are two plans to increase the retired age according to a roadmap:
Plan 1: for the male laborers in the normal working conditions, in each year, it will be increased by 03 months; for the female laborers, it is 04 months.
Plan 2: for the male laborers in the normal working conditions, in each year, it will be increased by 04 months; for the female laborers, it is 06 months.
This adjustment of the retired age is planned to be applied from 2021.
However, as Ms Nguyen Thuy Anh, Chief of the Committee of Social Affairs of the National Assembly viewed it, the space of retired age should be carefully considered depending on the health conditions, labor type and working conditions of different groups of laborers. For this reason, the Government should carefully analyze so as to have suitable suggestion of retired age by basing on certain elements such as retired aged as compared to the average longevity, the relationship between the increase of retired age, social insurance, among others.
On the other hand, it is necessary to review and list the jobs and professions that have the big difference between the job age and the retired age./.
Electricity price hike increases CPI to 0.49%
The General Department of Statistics (Ministry of Planning and Investment) on May 29, 2019 released the report on “Social and economic situation in first 5 months of 2019” with a lot of remarkable index.
The agro-fisheries-forestry production will meet with difficulties due to the electricity price hike. Specifically, African swine fever epidemic has developed complicatedly; the output of winter-spring rice has reduced by 45,000 tons as compared to the previous crop; fisheries export has also reduced due to the brackish water shrimps and tra fish exported to the US and Chinese markets is lower year on year.
Industrial production in May has increased to 4.6% against the previous month, thanks to the growth of 10.9% of the processing and manufacturing industries – the highest index in the past 5 years.
A eave of start-up has helped mobilize capital for the economy with around 54,000 newly registered enterprises, while the FDI enterprises continued to prosper with the record number of 1,363 investment projects and registered investment capital reaching USD 6.5 billion, the highest in the past 3 years.
The total export-import turnover in the past 5 months has reached USD 502 billion. It is worthy of note that despite the increase of electricity and petrol prices that has increased CPI in May to 0.49%, inflation has been basically controlled with average increase in the past 5 months by 1.85% year on year./.