Deputy Auditor General Nguyen Tuan Anh at a working session with UNODC representatives (Photo: sav.gov.vn)

Vietnam attends 26th UN-INTOSAI symposium

A delegation of the State Audit Office of Vietnam (SAV) led by Deputy Auditor General Nguyen Tuan Anh attended the 26th symposium co-organised by the United Nations (UN) and the International Organization of Supreme Audit Institutions (INTOSAI) in Vienna, Austria, as part of their working trip from April 15-21.

The biennial event aimed to enhance the capacity of Supreme Audit Institutions (SAIs) in developing countries and economies in transition to address climate action challenges. It took the theme “Implementation of Sustainable Development Goal 13 on climate action: role, contribution and experience of SAIs”, with the attendance of representatives from over 60 SAIs and relevant agencies.

Discussions centered on SAI experiences in auditing the impact of climate change, preparing necessary conditions for climate action audits, and enhancing climate actions and the impact of climate change audits.

In recent years, the SAV has focused on thematic, operational and environmental audits that address public concern, and integrated environmental protection and climate change adaptation into its annual audit plan, cited VNA.

Given Vietnam's vulnerability to climate change, the SAV's active participation in international cooperation activities in environmental auditing, climate change and sustainable development goals within the INTOSAI framework presents a valuable opportunity for capacity building. This aligns with the SAV's strategy on development until 2030, contributing to the Government's overall efforts to combat climate change, reduce greenhouse gas emissions and achieve sustainable green development goals.

Alongside the symposium, Deputy Auditor General Nguyen Tuan Anh also had bilateral meetings with leaders of several member SAIs of the Asian Organization of Supreme Audit Institutions (ASOSAI) to seek the support of SAIs for the SAV’s bid for a seat in the ASOSAI Governing Board for the 2024-2027 tenure.

At a working session with the UN Office on Drugs and Crime (UNODC), he said the SAV has full legal basis and authority to audit cases with signs of corruption in accordance with the provisions of the Anti-Corruption Law and the State Audit Law, adding that enhancing the effectiveness of auditing major thematic areas related to the management and operation of the State budget; issues that are prone to negative practices, corruption, wastefulness and important national issues is one of the key tasks of the SAV’s development strategy till 2030.

Anh expressed his desire for stronger cooperation with UNODC through knowledge exchange and access to international research and publications on anti-corruption. He asked UNODC to suggest potential areas where the SAV could contribute to its initiatives and the UN in general.

Brigitte Strobel-Shaw, Chief of the UNODC Corruption and Economic Branch, expressed her readiness to share existing guidance related to risk management and anti-corruption efforts with the SAV.

With its wide network spanning over 150 countries, UNODC will boost cooperation with the SAV through its regional office in Bangkok, Thailand, she said.

The official hoped that the two agencies will actively develop their partnership on anti-corruption through multilateral cooperation forums within the INTOSAI framework.

Vietnamese and Chinese localities seek stronger cooperation

Delegations of Ha Quang district’s Party Committee in the northern mountainous province of Cao Bang and Napo county’s Party Committee in China’s Guangxi province held talks on April 22 in Cao Bang.

Le Hai Yen, secretary of the Ha Quang Party Committee, said that over recent years, the two committees have enhanced collaboration across multiple fields and obtained substantive results.

At the talks (Photo: VNA)

Moving forward, Ha Quang desires to step up cooperation and exchanges in all spheres with Napo County, including organizing regular meetings and cultural exchanges, strengthening cross-border disease prevention and control, and continuing to disseminate and competently implement documents on the land border.

Pan Fulin, secretary of the Napo Party Committee, affirmed the results achieved in cooperation between the two localities have contributed to building a border of peace, friendship, and stability for economic development.

The official proposed a range of measures aimed at enhancing collaboration in culture, tourism, import and export, and agricultural development; as well as continuing to expand people-to-people diplomacy activities, according to VOV.

This comes after the delegation of the Napo Party Committee was hosted by Trieu Dinh Le, permanent vice secretary of the Cao Bang Provincial Party Committee and chairman of the People’s Council.

Vietnam’s economy shows gradual recovery: WB’s report

Vietnam's economy is showing mixed signs of recovery in early 2024, with growth forecast to reach 5.5% in 2024 and gradually rise to 6.0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released on April 23.

Addressing a press conference held by the WB on the same day, World Bank Lead Economist for Vietnam Andrea Coppola said the country’s exports are recovering, and consumption and private domestic investment growing more gradually.

Real exports are expected to grow by 3.5% in 2024, reflecting a gradual improvement in global demand. In addition, a turnaround in the real estate sector is anticipated later this year and next year, bolstering domestic demand as investors and consumers regain confidence, he said.

Senior Economist at the WB in Vietnam Dorsati Madani said the forecast is based on the assumption that exports of manufactured industrial goods will recover significantly in 2024 thanks to a rebound growth of 8.5% compared to the same period last year in the fourth quarter of 2023 and a 17.2% increase year-on-year in the first quarter of 2024; and an improving global demand.

Export of manufactured industrial commodities is expected to continue recovering in the next two years. The real estate market is predicted to transition towards an upward trend in late this year and early 2025, as the frozen bond market loosens and the Land Law takes effect from January 2025.

Real total investment and private consumption are projected to increase by 5.5% and 5% in 2024, respectively, VNA reported.

WB experts at the press conference (Photo: VNA)

According to Dorsati, inflation is forecast to increase slightly to 3.5% in 2024 from an average of 3.2% last year, and then stabilize at around 3% in 2025 and 2026. This projection is based on expectations of stable energy and commodity prices.

The economist also warned of potential downside risks both domestically and internationally that could negatively impact the economic outlook, saying that due to Vietnam's economic openness to the global economy, it could be vulnerable to effects of lower-than-expected global growth, such as with major trading partners including the US, the European Union, and China.

She underscored the importance of sustained fiscal policy support to reinforce the recovery and recommended expediting infrastructure investment projects financed by public resources, saying that this will help further stimulate the economy, with an additional potential 0.1 percentage point of GDP growth for every 1 percentage point increase in public investment as a share of GDP.

According to Dorsati, continued weak revenue collection and increased spending, including the planned salary increases for civil servants and accelerated investment public investment, are expected to widen the fiscal deficit to 1.6% of GDP in 2024, before narrowing to 1.1% in 2025, in line with the country’s Fiscal Strategy for 2021-2030.

Ensuring the stability of the financial sector remains paramount, with a focus on managing potential risks associated with increasing bad debts, including due to declining asset values in the real estate market. Capital buffers of commercial banks are relatively thin, and the real estate market’s downturn could further depress their capital, she said.

Dang Quang Vinh, Senior Private Sector Specialist at the WB, said the report presents several recommendations aimed at supporting innovative startups, thus contributing to Vietnam's productivity growth.

He underlined the need to enhance the contribution of the academic and public research community through providing opportunities for universities and public research institutions to support startups.

The public research sector can play a larger role by modernizing the intellectual property and technology transfer framework, rewarding research efforts with commercialization potential, and building the capacity of universities and research institutions to effectively transfer technology to startups, he went on.

Vietnamese and Lao PMs co-chair roundtable with ASEAN businesses and partners

Prime Minister Pham Minh Chinh proposed three breakthrough directions to make ASEAN a model in digital transformation globally while co-chairing a business roundtable towards a cohesive, resilient and sustainable ASEAN business community held in Hanoi on April 23 within the framework of the ASEAN Future Forum 2024.

Opening the discussion, Lao Prime Minister Sonexay Siphandone said that digital transformation is taking place strongly, not only in the region, but around the world across all aspects of social life. Therefore, there needs to be closer ties developed between subjects, including coordination between businesses, private sectors, governments, and countries to make the most of the benefits while minimizing and overcoming the challenges posed by digital technology.

Business leaders, leaders of ASEAN, and partner countries discussed opportunities and challenges in the regional bloc’s digital economic collaboration; solutions to ramp up ties between the region and partners in digital economic development; recommendations to form an ASEAN digital economic ecosystem; current requirements in e-commerce development in the bloc; and ways boost the development of the semiconductor supply chain in the region.

Participants also discussed the application of artificial intelligence (AI) in corporate governance and proposed developing ties with ASEAN member states; digital transformation in the information sector; cooperation in building high-quality digital human resources; and improving the investment environment to attract high-tech investment.

According to Scott Beaumont, president of the Asia-Pacific region of Google, ASEAN is a developing region that is a living testament to integration and connectivity.

Google is honored to contribute to the digital transformation process and narrow the digital gap in ASEAN. Along with developing platforms and applications in the digital environment in Vietnam, Google is also cooperating in training technological human resources, especially human resources in the field of AI, providing resources, and building data sources.

The bloc’s digital economic potential can double its current growth. To do so, ASEAN needs to invest in infrastructure, train human resources, invest in research and development, and build data hubs, especially national data. Along with that, ASEAN member states need to ensure a strong enough legal environment to ensure investors achieve their set goals, he added.

In his speech, PM Chinh highly appreciated many profound, enthusiastic, constructive, and practical comments, clearly demonstrating the delegates' interest and desire to promote ASEAN's digital economic future, cited VOV.

Prime Minister Pham Minh Chinh (R) and his Lao counterpart Sonexay Siphandone co-chair the event.

According to the PM, ASEAN's digital economic development is driven by favorable factors such as an important geo-strategic and geo-economic location; large consumer market, young population structure, growing middle class; economic growth which has recovered quickly; an extensive network of links and economic co-operation; and the strong growth of the ASEAN digital economic ecosystem.

The nation will determine national digital transformation and digital economic development on the basis of science, technology, and innovation as a strategic development orientation by 2030, with a consistent viewpoint of putting people and businesses at the center. Indeed, the country views them as subjects, targets, driving forces, and important resources of digital transformation.

The Vietnamese Government chief underlined the importance of equal access to digital transformation and the digital economy on the principle of “harmonizing benefits and sharing risks”; ensuring transparency, safety, inclusiveness, and sustainability; strongly promoting ASEAN’s self-reliance and autonomy in digital transformation, based on specific factors, potential, and advantages of each country; and soon completing the ASEAN Digital Economy Framework Agreement.

He therefore suggested promoting a global, all-people, and comprehensive approach in ASEAN's digital economic development; and focusing on solving common and global problems that affect the entire population such as pressure on labor restructuring, cybersecurity, cybercrime, and the downside of AI.

The Vietnamese Government leader also urged countries, partners, and the ASEAN business community to step up collaboration in digital transformation to contribute to renewing traditional growth drivers and promoting digitalisation associated with the application of science and technology in industries and fields to create new growth engines.

It is also essential for parties to boost ties and support in financial resources, knowledge, technology transfer, and human resources training so that both the bloc and the nation can participate more deeply in frameworks, mechanisms, and supply chains in the region and throughout the world, he added.

Dien Bien Phu veterans and war youth volunteers honored on 70th anniversary

A solemn ceremony was held in Hanoi on Tuesday to honor veterans and former youth volunteers who took part in the Dien Bien Phu Campaign.

The event was organized by the Central Committee of the Vietnam Association for Victims of Agent Orange/dioxin in coordination with the Ministry of National Defence, the Central Committee of the Association of Former Vietnamese Youth Volunteers, and the Hanoi Party Committee.

Party General Secretary Nguyen Phu Trong sent a bouquet to the function.

The attendees included Acting State President Vo Thi Anh Xuan; Politburo member, permanent member of the Party Central Committee’s Secretariat and head of the committee’s Organization Commission Trương Thị Mai; and Politburo member and Defence Minister General Phan Van Giang were prominent among the participants.

Expressing profound emotions upon meeting representatives of the millions of veterans and youth volunteers nationwide, Mai, on behalf of the Party and State leaders, conveyed deep gratitude to former revolutionists, those bestowed with the titles of “Hero of the People's Armed Forces” and “Heroic Vietnamese Mother”, families of martyrs, war invalids, veterans, former youth volunteers and frontline workers who participated in the Dien Bien Phu Campaign.

Standing Member of the Secretariat of the Party Central Committee Truong Thi Mai and delegates at the meeting. Photo: VNS

"We will forever remember the great contributions of our predecessors, the veteran revolutionaries, heroic martyrs, war invalids, generals, officers, soldiers, former youth volunteers and the people who bravely fought, sacrificed and contributed their strength and resources to the historic victory of Dien Bien Phu," she emphasized.

Mai affirmed that the victory of Dien Bien Phu holds great historical significance. Not only did it mark the conclusion of the triumphant resistance war against French colonialism, preserving and advancing the fruits of the August Revolution of 1945, but it also ushered in a new revolutionary era. With this victory, the North began to advance towards socialism, serving as a solid rear for the cause of complete liberation of the South and national reunification.

The commemoration of the 70th anniversary of the Dien Bien Phu victory is an occasion for the entire Party, army and people to continue promoting revolutionary traditions, patriotism, national pride and the great unity of the entire nation.

Over nearly 40 years of renewal, under the leadership of the Party, the country has made many great historical achievements in socio-economic, national defense, security, foreign affairs, Party and political system building.

Among these achievements, the veterans' associations and youth volunteer organizations at all levels have always made efforts to set examples in life, actively participate in patriotic movements, and follow President Ho Chi Minh's thought, morality and lifestyle. Many veterans and former youth volunteers have spread positive images in wartime and peacetime, VNS reported.

Mai expressed her belief that the veterans and former youth volunteers will continue to make worthy contributions to the cause of building and protecting the Fatherland; educating the younger generation about the spirit of patriotism and national pride, continuing the glorious and heroic tradition, contributing to the rapid and sustainable development of the country, and successful achievement of the set goals.

On behalf of veterans and former youth volunteers who participated in the Dien Bien Phu Campaign, Lieutenant General Nguyen Tu, former Deputy Director of the Military Medical Academy, expressed his honor and pride when the Dien Bien Phu veterans who are now all over 90 years old, witness the changes and advancement of the country.

"We made a promise to the heroic martyrs, to our comrades, to the Party, State and people, that we will continue to uphold the nature and traditions of revolutionary soldiers, maintain the qualities of 'Uncle Ho's Soldiers', implement the Party's guidelines and policies and the State's laws; set examples in living, learning and following the morality and lifestyle of Uncle Ho, truly being exemplary models for young people to learn from and follow; and actively participate in building the grassroots political system; and participate in movements and campaigns launched by the central and local governments," said Tu.

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