Government

The seven major areas include finance, banking, and aviation industries.

On an annual basis, the bond market expanded 19.0% year-on-year in the first quarter of 2021, led by corporate bonds, which more than doubled during the quarter.

Newly-appointed ministers are expected to stand shoulder to shoulder with Prime Minister Pham Minh Chinh to promote the country's socio-economic growth.

The Prime Minister’s task force, after five years of operation, has helped address many existing problems caused by “custom rules the law” that hamper the country's socio-economic development process.

Higher quality in newly promulgated legal documents and laws in terms of practicality and feasibility are reasons for a significant less number of circulars issued at ministerial-level agencies in 2020.

While Vietnam continues to pursue the dual target of containing the pandemic and boosting economic recovery, protecting people’s lives remain the government’s utmost priority, Prime Minister Nguyen Xuan Phuc has said.

Mass support for the business community, including too ailing businesses, could lead to unnecessary debt burden for the economy.

The government would continue to hold majority stakes at state-owned commercial banks, and maintain presence in companies operating in fields that are essential to the economy.

This year, Vietnam targets economic growth of 2% in normal conditions and 2.5% if favorable factors emerge.

The majority of business conditions still allow state agencies to interfere deeply in enterprises’ rights to freedom of doing business, said an expert.