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AT A GLANCE Congratulations on South Africa Freedom Day

VIETNAM - AUSTRALIA TIES COMPREHENSIVE STRATEGIC PARTNERSHIP ESTABLISHED

During talks in the Australian capital Canberra on March 7, visiting trade and investment, agriculture, and edu-
Prime Minister Pham Minh Chinh and his Australian counterpart cation and training. Meanwhile, Prime
Anthony Albanese agreed to upgrade relations between Vietnam Minister Chinh stressed that the new frame-
and Australia to the highest level - a comprehensive strategic part- work of relations will contribute to enhancing
nership. Addressing a joint press briefing afterwards, Prime and deepening cooperation, meeting the aspirations of people
Minister Albanese said the upgrade of bilateral relations is aimed from both countries for peace, stability, cooperation, and development
at promoting cooperation between the two countries in a deep, in the region and the world. Vietnam has now established com-
practical, and effective manner in all fields, such as climate change prehensive strategic partnerships with seven countries: Australia,
prevention, energy transition, digital transformation, innovation, China, India, Japan, Russia, South Korea, and the US.

30th ANNIVERSARY MARKED VIETNAM - ADB PARTNERSHIP

Addressing a ceremony in Hanoi on March 2023-2026 period, he called on the ADB to coordinate with Viet-
13 marking the 30th anniversary of the namese ministries and agencies to quickly put in place specific
partnership between Vietnam and the projects in 2024. ADB President Masatsugu Asakawa, for his
Asian Development Bank (ADB), Prime part, emphasized that the ADB pays due regard to and supports
Minister Pham Minh Chinh expressed his appreciation of the Vietnam in socio-economic development, and hopes to work
bank’s support to Vietnam, especially in infrastructure development, together with the country to launch results-oriented cooperation
poverty reduction, education, and healthcare, and particularly in projects. The bank can provide financial aid for Vietnam to imple-
remote, border, and island areas. The ADB has also inspired ment projects in green transition, energy transition, and infra-
other partners to cooperate and support Vietnam in development, structure, and help it in emerging industries, he said, suggesting
the Prime Minister stressed. Lauding the bank’s efforts in mobilizing that the Vietnamese Government work to speed up the imple-
up to $3 billion in capital for some 23 projects in Vietnam in the mentation of cooperative projects.

VIETNAM BUSINESS FORUM FOREIGN ENTERPRISES HAILED
During a meeting with FDI enterprises held within the framework expense of social progress, equality, and
of the annual Vietnam Business Forum (VBF), jointly held on the environment. Regarding green growth,
March 19 in Hanoi by the Ministry of Planning and Investment the government leader noted that Vietnam
(MPI), the World Bank (WB), the International Finance Corporation views it as a core element in economic
(IFC), and the Vietnam Business Forum Alliance, Prime Minister restructuring and reform of the growth model towards higher
Pham Minh Chinh hailed the support of international friends and productivity, quality, efficiency, and competitiveness, and rapid,
the contribution of FDI enterprises to Vietnam’s socio-economic sustainable development. He suggested that FDI enterprises and
achievements. According to figures he announced, as of the end of foreign investors lead in changing both mindsets and action in
February, Vietnam had over 39,500 valid FDI projects, and he pursuing sustainable development, transferring technologies, and
stressed that economic growth should not be achieved at the promoting development research.

CONFERENCE HELD ON MONETARY POLICY TASKS BANKING SECTOR
At a conference launching this year’s mon- examinations, and the supervision of loan provision by credit insti-
etary policy-related tasks to tackle obstacles tutions. The government leader also asked credit institutions to
in production and business, facilitate growth, carry out measures promoting credit growth; channeling capital
and maintain macro-economic stability, into production and business activities, priority areas, and growth
held by the State Bank of Vietnam (SBV) on March 14, Prime drivers; and strictly controlling credit for high-risk fields. According
Minister Pham Minh Chinh asked the central bank to keep a close to the SBV, credit growth in January-February declined compared
watch on the international and domestic situation to govern to late 2023, but deposits remained considerable, with VND14
monetary policy in a proactive, flexible, timely, and effective manner. quadrillion ($566.9 billion) put into bank accounts during the
It needs to ensure harmony between interest rates and exchange period. However, enterprises are still facing shortages of capital for
rates, effective credit growth, and safety for banking activities and production and business activities, lending interest rates remain
credit institutions, he said, adding that it must also boost inspections, high, and non-performing loans are tending to increase.

PERSONNEL AFFAIRS STATE PRESIDENT STEPS ASIDE
At its sixth extra-ordinary session on March 21, the 15th National must not do and regulations concerning
Assembly (NA) adopted a resolution on the relief of Vo Van Thuong the responsibility to set an example for offi-
from the positions of State President and NA Deputy. Earlier, at its cials and Party members, firstly members
meeting on March 20, the 13th Central Committee of the Communist of the Politburo, the CPV Central Committee’s
Party of Vietnam (CPV) agreed to let Mr. Thuong cease holding the Secretariat, and the CPV Central Committee, and bears responsibility
positions of Politburo Member, Member of the 13th CPV Central in line with Party regulations and State laws. According to an
Committee, State President of the Socialist Republic of Vietnam, announcement from the NA Standing Committee, issued on March
and Chairman of the National Defense and Security Council for 21 following the 15th NA’s sixth extra-ordinary session, Ms. Vo Thi
the 2021-2026 tenure. According to recent reports from the 13th Anh Xuan, Deputy State President, will assume the position of
CPV Central Committee’s Inspection Commission and relevant Acting State President from March 21, 2024, until the National
authorities, Mr. Thuong violated regulations on what Party members Assembly elects a new President.

4 Vietnam Economic Times April 2024 en.vneconomy.vn