Weekly News Bulletin - No. 04, March 2023

Reviewing the country’s socio-economic recovery and development achievements in 2022, the PM said the macro economy remained stable, major economic balances were ensured, and notably the domestic investment and business environment was improved significantly. At the event, Minister of Planning and Investment Nguyen Chi Dung reported that Vietnam’s economic scale exceeded USD 400 billion for the first time last year, with a growth rate of 8.02%. The export-import revenue hit a record of USD 732 billion, making Vietnam enter the list of the top 20 in terms of trade growth worldwide.

The Organisation for Economic Cooperation and Development (OECD) and Vietnam on March 22 signed the world’s most wide-reaching international treaty for multilateral tax cooperation, the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAAC), bringing the total number of jurisdictions that participate in the convention to 147. With the signing, Vietnam joins international efforts towards greater tax cooperation and exchange of information and further strengthens the reach of the convention in Asia. The signing will pave the way for Vietnam to engage in the exchange of information with 146 other jurisdictions, including all major financial centres. These exchange relationships will be added to over 8,000 exchange relationships already in place under the convention.

Last week highlight

Vietnam has been ranked in the top 10 places in the 2023 Agility Emerging Markets Logistics Index compiled by Agility, one of the world’s top freight forwarding and contract logistics providers. Accordingly, Vietnam is at the 10th place, up one spot compared to the previous year. Among Southeast Asian countries, Vietnam are fourth, behind Malaysia, Indonesia, and Thailand.

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Let’s look at some other key financial and business headlines during the past week

look at some other key financial and business headlines during the past week

1. Vietnam aims for five international-standard cities by 2045
2. Vietnam joins Multilateral Convention to tackle tax evasion and avoidance
3. PM pledges to further support enterprises at Vietnam Business Forum 2023
4. Ministries to devise measures for attracting int’l capital to PPP projects
5. Vietnam continues to push for stronger ties with US: PM
6. Vietnam blockchain development center launched in Hanoi
7. Vietnam, Canada step up cooperation in performance audit
8. Vietnam to develop policies to adapt to global minimum tax   
9. Vietnam attracting Japanese investments to new areas
10. Tax on sugary drinks proposed for the benefit of people’s health: NA chairman

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Key words: Vietnam, business, finance, economy