Photo: VOV

Vietnam GDP growth likely to hit 8% this year in base-case scenario

The Vietnamese economy is anticipated to expand 8% this year in the base-case scenario, providing that there are no adverse external factors facing the national economy in the remaining months of the year, according to the Ministry of Planning and Investment (MPI).

This is one of the two scenarios the MPI has envisaged for the economy this year taking into account ongoing global uncertainty and complexity.

In the worse-case scenario, GDP growth is likely to reach roughly 7.5%, particularly with many challenges and uncertainties expected in the fourth quarter of the year.

The economy grew 5.03% in the first quarter, 7.7% in the second quarter and 13.67% in the third quarter of the year.

With regard to Vietnamese economic prospects ahead in 2023, the MPI has noted that there will be both challenges and opportunities amid inflationary pressure worldwide and a gloomy outlook for global economic growth. In this case, it said that drastic measures should be taken to maintain stable economic growth moving forward, cited VOV.

MPI Deputy Minister Tran Quoc Phuong pointed out that high inflation in major economies is anticipated to ultimately cause economic recession in the long-term, and that global inflation will certainly impact the local economy as the country’s openness to trade is relatively large.

The MPI also warned about other factors such as natural disasters and epidemics, and it therefore recommended that the Government choose a growth scenario of roughly 6.5% for 2023.

Phuong revealed that 46.7% of public investment capital has been disbursed so far in comparison to the plan assigned by the Prime Minister, with nearly VND35,000 billion higher compared to the previous year.

This can largely be attributed to the fact that the total amount of public investment capital this year is higher than last year, leading to a higher rate of capital disbursement, he said.

Vietnam calls for global efforts to promote sustainable development

Vietnam called for national, regional and global efforts to promote sustainable development at the Economic and Financial Committee’s meeting of the United Nations General Assembly’s 77th session on October 3-4.

Speaking at the event, Permanent Representative to the UN Ambassador Dang Hoang Giang said in order to turn political commitments into practical actions, countries need to make efforts at national, regional and global levels.

At the national level, people should be placed in the centre of every development policy and strategy. Countries should give priority to building a solid macroeconomic foundation and improving their economies' resilience to shocks. At the regional level, cohesion and cooperation with regional and sub-regional mechanisms should be stepped up to address challenges and promote sustainable development, through the sharing of lessons, practices and models, he said.

Giang stressed that at the global level, peace, security and stability are prerequisites to put the 2030 Agenda for Sustainable Development back on track, and called for the peaceful settlement of disputes in line with international law and the UN Charter and an end to conflicts.

In his opinion, it is necessary to ensure long-term access to finance, narrow gaps in the global debt structure, and increase investment in transport and energy infrastructure, information technology, innovation, science and education. More attention is needed for the least developed countries, landlocked developing countries and small island developing countries, as well as middle income countries.

Permanent Representative to the UN Ambassador Dang Hoang Giang speaks at the event. Photo: VNA

The diplomat called for the immediate lifting of unilateral embargo measures that run counter to international law as well as the continuation of reforming the UN system, strengthening international cooperation and solidarity, including South-South and trilateral cooperation.

Highlighting Vietnam’s achievements in fulfilling the UN Sustainable Development Goals (SDGs), Giang affirmed that Vietnam always actively joins regional and global efforts to push forward sustainable development and improve people’ lives.

He called on the international community to support Vietnam’s run for a seat at the UN Human Rights Council for the 2023-2025 tenure to contribute more to common work of the world, according to VNA.

Opinions at the event heightened the UN’s central role and emphasised the need to ensure resources, finance and methods to accomplish the SDGs, strengthen international cooperation and solidarity in solving international problems and promote sustainable development.

25 Apple’s partners have factories set up factories in Vietnam

The number of Apple manufacturing partners setting up their factories in Vietnam has increased to 25 at present, four more than the 2020 figure, the tech giant said in its list of supply partners for the fiscal year 2021.

The Apple report released the list of 180 companies, accounting for 98% of the firm’s direct costs for materials, production, and assembly worldwide. Of the total, 25 of its manufacturing partners have established factories in Vietnam.

Photo: VOV

Specifically, there are several familiar Apple manufacturing partners to feature in the list, including Foxconn, Luxshare Precision, or component suppliers Samsung, LG Display, and Intel.

During the fiscal year 2021, the tech giant added five new partners with factories in Vietnam, and at the same time eliminated Foster Electric which had factories in Binh Duong and Da Nang, reported VOV.

The list also added Luxshare Precision's factory at the Vietnam – Singapore Industrial Park (VSIP) in the central province of Nghe An which has been in operation since 2020. Previously, Luxshare had manufactured Apple devices in the northern province of Bac Giang.

JP Morgan’s recent report outlined that Vietnam is on the pathway to developing into an important manufacturing base for Apple, supplying 65% of AirPods, 5% of MacBooks, 20% of iPads, and Apple Watches by 2025.

The move was considered a step forward for Vietnam in the field of manufacturing, contributing to maintaining the global supply chain, said Japanese business news outlet Nikkei Asia.

Various cultural and sports activities to celebrate Hanoi’s Liberation Day

A wide range of cultural and sports activities will be held to celebrate the 68th anniversary of Hanoi’s Liberation Day (October 10, 1954 – 2022).

The information was released by the Hanoi Department of Culture and Sports on October 4.

Accordingly, the opening ceremony of the 10th Hanoi Physical Training and Sports Festival is scheduled to take place on October 7 at the Hanoi Athletics Palace in Nam Tu Liem District.

As of September 30, all 30 districts, towns, units, branches, unions, agencies, factories, schools, and armed forces in Hanoi have successfully organised grassroots level sports festivals.

The Hanoi Open Dragon Boat Race 2022 will take place on West Lake on October 9, with the participation of more than 500 athletes from 36 men's and women's teams, cited NDO.

Also on the occasion, the Management Board of Hoa Lo Prison Relics will organise an exhibition entitled “Song of Triumph” to recreate the glorious fighting journey of the army and people of Hanoi during the arduous years of the resistance wars against the colonists and imperialists.

In addition, the Hanoi Department of Culture and Sports will coordinate with districts and towns in Hanoi to hold a wide range of art programmes in celebration of the 68th anniversary of Hanoi’s Liberation Day.

Twins survive after premature birth, weighing just 500g

The National Hospital of Obstetrics and Gynecology has for the first time successfully bred twins who were born at 25 weeks, each weighing just 500g.

The twins, one boy and one girl, were born on May 16 to a mother infected with Covid-19 in Hanoi’s district of Ung Hoa.

As of October 3, the girl weighed 3.1kg and the boy, 3.6kg, the hospital said on October 5. Both are now in a stable condition, VNA reported.

The twins are in a stable condition. Photo: Suckhoedoisong.vn

The hospital’s Center for Neonatal Care successfully cared for the twins, according to Director Le Minh Trac.

Statistics from the World Health Organization (WHO) said every year, an estimated 15 million babies are born preterm (before 37 weeks of gestation), and this number is rising.

More than three quarters of premature babies can be saved with feasible, cost-effective care, such as essential care during childbirth and in the postnatal period, provision of antenatal steroid injections (given to pregnant women at risk of preterm labour and under set criteria to strengthen the babies’ lungs), kangaroo mother care (the baby is carried by the mother with skin-to-skin contact and frequent breastfeeding), and antibiotics to treat newborn infections.

For example, continuity of midwifery-led care in settings where there are effective midwifery services has been shown to reduce the risk of prematurity by around 24%.

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