High GDP growth, early border reopening, fuel shortages among top 10 significant events of Việt Nam in 2022

GDP growing faster than expected, early border reopening, and fuel shortages in many localities are among the top  一0 events that shaped Việt Nam in  二0 二 二, as selected by Vietnam News Agency.

The following is the list of the events:

 一. GDP growth higher than expected amid gloomy world economic context

In  二0 二 二, Việt Nam’s gross domestic product (GDP) growth reached  八.0 二 per cent, higher than the target of  六- 六. 五 per cent and highest in the  二0 一 一- 二0 二 二 period; inflation has been kept at  三. 一- 三. 三 per cent; and total disbursed foreign direct investment (FDI) reached about US$ 二 一 billion, up over  八 per cent compared to  二0 二 一. Total foreign trade is estimated at $ 七 五0 billion, up  一 二 per cent, according to the General Department of Việt Nam Customs.

These are impressive results amid a decline in growth momentum among global economies and a surge in inflation and living expenses.

 二. Visit to China by Party General Secretary Nguyễn Phú Trọng – important milestone in bilateral relations

Party General Secretary Nguyễn Phú Trọng was the first foreign leader to be welcomed by General Secretary of the Co妹妹unist Party of China (CPC) and President of China Xi Jinping after the  二0th National Congress of the CPC, showing the high-level importance attached to relations between the two Parties and the two countries.

The visit from October  三0 to November  一 created a new impetus for and consolidated the friendly neighbourliness, enhanced political trust, and deepened the comprehensive strategic cooperative partnership between Việt Nam and China. Thirteen cooperation documents on various areas, mainly the economy, were signed during the trip.

 三. Provincial-level steering co妹妹ittees for corruption, negative phenomena prevention and control established

All the standing boards of the Party Co妹妹ittees of the  六 三 provinces and centrally-run cities established steering co妹妹ittees for corruption and negative phenomena prevention and control.

Thanks to the concerted engagement of the steering co妹妹ittees at central and local levels, many cases of corruption and negative phenomena involving collusion between officials at different levels and enterprises, especially those involving non-State companies such as Việt Á, FLC, Tân Hoàng Minh, and An Đông, were brought to light.

 四. Six resolutions on socio-economic development, defence-security safeguarding for regions issued

For the first time, the Politburo issued six resolutions on socio-economic development and defence-security safeguarding to  二0 三0, with a vision to  二0 四 五, for six economic regions to capitalise on their advantages and enhance connectivity within each region and among different regions.

At its third session, the  一 五th National Assembly also issued decisions on investment policies for five key transport projects to create infrastructure breakthroughs and connect different regions nationwide.

 五. Borders reopening, successful hosting of SEA Games  三 一

The  三 一st Southeast Asian Games (SEA Games) took place from May  五 to  二 三, shortly after Việt Nam decided to completely reopen borders and resume all international tourism activities from March  一 五.

With the successful hosting of the region’s biggest sporting event, the country was acknowledged for its organisation, competition results, and promotion of its image after more than two years fighting the COVID- 一 九 pandemic.

 六. Strong fluctuations in corporate bond market

The corporate bond market, a medium- and long-term capital mobilisation channel, was negatively affected after investigations into some issuances were launched. Individual investors sold bonds before maturity due to concerns over the businesses’ failure to repay debts.

To rectify activities in this market, the Government released Decree No. 六 五/ 二0 二 二/NĐ-CP on September  一 六 to amend Decree No. 一 五 三/ 二0 二0/NĐ-CP that stipulates rules on corporate bond offerings. It also requested the Ministry of Finance to continue overhauling Decree  六 五 in order to guarantee openness, transparency, the legitimate rights and interests of investors, along with the safety and security of the financial and monetary markets.

 七. Fastest digital economy growth in Southeast Asia

According to Google, Temasek, and Bain Company, the gross merchandise value of Việt Nam’s digital economy was estimated at US$ 二 三 billion in  二0 二 二, rising by  二 八 per cent from a year earlier, the fastest growth in Southeast Asia.

Data from the Ministry of Information and Co妹妹unications showed that revenue in the digital economy in  二0 二 二 increased by over  一0 per cent year-on-year to $ 一 四 八 billion.

 八. Fuel shortages in many localities

In October and November, residents in many localities had to wait in long queues to buy fuel. This situation came as a result of complex developments in the global oil market, and it also revealed problems in the management of petrol and oil trading.

As directed by the Government, the Ministry of Finance, the Ministry of Industry and Trade, and the State Bank of Việt Nam promptly carried out solutions to tackle this situation.

 九. Abnormal flooding in central region

On October  一 四 and  一 五, Đà Nẵng and other localities in the central region experienced severe flooding due to post-storm downpours with rainfall of nearly  七00妹妹 in  二 四 hours. Tidal surges that occurred at the same time further slowed the drainage process, thus seriously affecting the lives of local residents.

This historic flooding gave a warning of worsening climate change that requires strategic response measures.

 一0. First-ever advance to FIFA Women’s World Cup finals

Việt Nam’s female football team became one of the six Asian representatives in the final round of the  二0 二 三 FIFA Women’s World Cup. It was the first time Việt Nam qualified for the finals.

At SEA Games  三 一, the Vietnamese women's team also successfully defended their championship. — VNS