Vietnam News Today (Apr. 26): Vietnamese Economic Growth Likely to Reach 6.5% This Year

Vietnam News Today (Apr. 26): Covid-19: Additional 7,417 cases recorded on April 25; Vietnamese economic growth likely to reach 6.5% this year; Tickets to 31st SEA Games opening ceremony to be distributed as invitations; Vietnam, US boast huge potential for stronger development in new fields.
April 26, 2022 | 07:58

Vietnam News Today (Apr. 26) notable headlines

Covid-19: Additional 7,417 cases recorded on April 25

Vietnamese economic growth likely to reach 6.5% this year

Tickets to 31st SEA Games opening ceremony to be distributed as invitations

Vietnam, US boast huge potential for stronger development in new fields

Opportunity to experience colorful highland market during upcoming holidays

Dialogue spotlights women’s roles in diplomacy

Six global trends that will shape Vietnam’s future: HSBC

Sa Pa Summer Festival 2022 kicked off

Quan Ngua Sports Complex ready for SEA Games 31

A student gets temperature check before receiving COVID-19 vaccination in Hung Yen province. Photo: VNA
A student gets temperature check before receiving COVID-19 vaccination in Hung Yen province. Photo: VNA

Covid-19: Additional 7,417 cases recorded on April 25

Vietnam recorded an additional 7,417 Covid-19 infections on April 25, down 1,395 cases from the previous day, the Ministry of Health announced.

The capital city of Hanoi continued to log the highest number of infections, with 941 cases, followed by Phu Tho province with 493 cases and Quang Ninh province with 411 cases.

Besides, the northern province of Bac Giang added 853 Covid-19 cases to the national caseload after verifying information.

The country’s total caseload has now reached 10,571,772, cited VNA.

The same day, 6,685 patients were declared to fully recover from the disease, lifting the total number of recoveries to 9,092,760.

Meanwhile, the death toll rose to 43,021 after seven fatalities were announced on April 25.

The country has so far administered 212,600,099 doses of Covid-19 vaccines.

Vietnamese economic growth likely to reach 6.5% this year

Vietnam is set to achieve an economic growth rate of 6.5% this year, although its inflation target of below 4% is not achievable, according to the annual publication of Vietnam Economic Review 2021 released on April 25 by the National Economics University.

The projection was made by a research team of the National Economics University at a national scientific conference held on April 25 to release the publication themed "Vietnam's economy in 2021 and prospects for 2022: Macro-economic stability and financial soundness amid the Covid-19 pandemic".

Assoc. Prof. Dr. To Trung Thanh, head of the Scientific Management Division under the National University of Economics, said the local economy witnessed unprecedented challenges last year, with its economic growth falling sharply to 2.58%, the lowest recorded over the last two decades, from 2.91% in 2020.

He attributed this drop to the severe recession shock in the third quarter of last year caused by the spread of the Delta variant and the nation’s low vaccination rate at the time.

According to the latest publication, the Vietnamese economy is anticipated to encounter numerous difficulties ahead this year due to new virus strains, escalating global political instability, and a hike in oil prices. These issues have all threatened global recovery, especially major Vietnamese trading partners such as the United States, the EU, and China, thereby affecting trade and investment in the nation.

Furthermore, the governments and central banks of major countries, especially the US, have moved to tighten their monetary policy due to concerns surrounding inflation, which will have an impact on the local economy with monetary policies aimed at supporting economic recovery being narrowed in the future.

Moreover, instability risks still exist due to turmoil occurring in the real estate and securities markets, with credit capital flows not being poured into the production sector, thereby leading to unhealthy indicators in the banking sector.

Photo: VOV
Photo: VOV

Thanh anticipates that Vietnamese economic growth is likely to fulfill the target of 6.5% this year, although the Government's inflation target of less than 4% is not achievable.

He duly pointed out that the trend of a hike in the prices of essential goods and gasoline, coupled with the ongoing Russia-Ukraine conflict, have pushed up energy prices to record highs, greatly affecting domestic production costs and exerting great pressure on inflation, according to VOV.

However, Thanh emphasized that the new bailout package of economic recovery could potentially help Vietnamese economic growth reach the target of 6.5% as expected.

The prime driving force behind economic growth is forecast to come from the external economic sector which will make a great contribution to the production of processed products and export items.

Furthermore, the service industry has a chance at strongly recovering this year due to the reopening of the national economy, which will play a crucial role in fulfilling the annual target.

Most notably, growth quality this year is also projected at a higher level, with the total factor productivity (TFP) growth and improved labour productivity.

Experts advised the Government to focus on ensuring sustainable economic development, effectively adjusting fiscal and monetary policies to avoid risks of macroeconomic instability, and providing timely support for local businesses to recover in the post-pandemic period.

Tickets to 31st SEA Games opening ceremony to be distributed as invitations

The 20,000 tickets available for the opening ceremony of the 31st Southeast Asian Games (SEA Games 31) at My Dinh Stadium in Hanoi will be distributed free of charge as invitations rather than sold as tickets.

The organizing committee said the tickets will be allocated to Government and international officials, foreign embassies in Vietnam, as well as fans.

The tickets have been reserved for seats in Stand A because Stand B will host performances during the ceremony on May 12.

There will be about 20,000 tickets for the SEA Games 31 opening ceremony on May 12. Photo: VNA
There will be about 20,000 tickets for the SEA Games 31 opening ceremony on May 12. Photo: VNA

At the 2-hour event, Prime Minister Pham Minh Chinh will announce the official opening of the SEA Games 31 after a parade of the 11 delegations.

Meanwhile, tickets for the final and runners-up matches of the men’s football, slated for 4pm and 7pm on May 22 at My Dinh Stadium, will be sold both online and offline at VND300,000 (US$13), VND500,000, VND700,000, and VND900,000 each, according to the Games organizing committee, reported VNA.

Tickets to see the Vietnamese men’s U23 football team in Group A at Viet Tri Stadium will be distributed by the organizing committee of Phu Tho province. They will be sold at VND200,000, VND300,000, and VND500,000 each.

A semi-final of the men’s football will also be held at Viet Tri Stadium, and tickets will be at VND300,000, VND400,000, and VND600,000 each.

The SEA Games 31 is scheduled to officially take place from May 12 to 23, featuring 40 sports with 526 categories.

It will take place in Hanoi and 11 nearby localities, namely Bac Ninh, Bac Giang, Nam Dinh, Ha Nam, Hoa Binh, Hai Phong, Phu Tho, Hai Duong, Quang Ninh, Ninh Binh, and Vinh Phuc.

Vietnam, US boast huge potential for stronger development in new fields

The two countries have great potential for stronger development in the ahead, with new areas such as responding to the impacts of climate change and combating the pandemic.

US Ambassador Marc E. Knapper was speaking this during a reception given by Party General Secretary Nguyen Phu Trong in Hanoi on April 25.

During the reception for the US diplomat who paid a courtesy visit marking the start of his working term in Vietnam, General Secretary Nguyen Phu Trong congratulated the guest on taking on a new important task in the nation, while stating that Vietnam has never had potential, position and international prestige like today, first of all, thanks to its proper internal and external policies.

Party General Secretary Nguyen Phu Trong (R) hosts US Ambassador Marc E. Knapper. Photo: VOV
Party General Secretary Nguyen Phu Trong (R) hosts US Ambassador Marc E. Knapper. Photo: VOV

Knapper expressed his pleasure and honor to return to work as the US Ambassador to Vietnam, while affirming his nation’s readiness to support a strong, independent and prosperous Vietnam and promote the two countries' relations on the basis of respecting each other's political institutions, cited VOV.

He said he will make every effort to contribute to propel US-Vietnam relations forward in the time to come.

The Party chief hailed the positive development of bilateral relations over the past time in the spirit of "putting aside the past, overcoming differences, promoting similarities, and looking towards the future".

He affirmed that Vietnam is pursuing the foreign policy of independence, self-reliance, peace, cooperation and development, multi-lateralization and diversification of foreign relations, in which it continues to enhance the ties of cooperation and friendship between the two countries on the basis of mutual respect, for both nations’ interests, and for peace, friendship and cooperation in the region and the world as a whole.

Trong suggested Ambassador Knapper continue making positive contributions to the development of both countries' relations and achieving plenty of successes during his term of office in Vietnam.

Opportunity to experience colorful highland market during upcoming holidays

The management board of Vietnam National Villages for Ethnic Culture and Tourism has announced a series of cultural activities to celebrate the 47th anniversary of the liberation of the South and national reunification (April 30, 1975 -2022) and International Workers' Day (May 1).

Accordingly, many activities will take place at the Vietnam National Villages for Ethnic Culture and Tourism from April 29 to May 3, introducing the colorful cultural space of ethnic groups in the Northwestern and Northeastern regions.

Highland market at the common house. Photo: NDO
Highland market at the common house. Photo: NDO

The highlight of event is "the highland market - Son La rendezvous" with stalls displaying handicraft products, typical cuisine, and traditional art performances of ethnic minorities in Son La Province.

Within the framework of activities, there will also be events re-enacting the dance festival of the Dao ethnic group and the rain praying festival of the Thai ethnic group as well as activities of praying for peace and blessings at the spiritual spaces of Khmer pagodas and Cham towers, NDO reported.

Coming to the communal house on this occasion, the public and visitors will have the opportunity to participate in experiential activities at the "Common House" of the 54 ethnic Vietnamese community living in the village, such as: learning about handicrafts public and making folk dishes, and participating in traditional games experiences.

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