Vietnam’s economy accelerates in third quarter
The Vietnamese economy accelerated in the July to September period, expanding by 7.46%, helped by strong grow in the manufacturing sector and exports. Overall Vietnam’s economic output in the first nine months of the year grew by 6.41%, meaning the growth rate in the fourth quarter must be at least 7.31% if Vietnam is to meet its target of 6.7% for the entire year.
Da Nang chairman Huynh Duc Tho disciplined with a warning
The Central Inspection Commission decided to discipline Da Nang chairman Huynh Duc Tho with a warning, while the disciplinary measure to be taken against the city’s Party secretary Nguyen Xuan Anh is to be decided by the Politburo and the Central Committee. Both Anh and Tho were found to have committed multiple serious violations as the senior officials of the central city.
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Da Nang Chairman Huynh Duc Tho
Vietnam jumps five places on Global Competitiveness Index
Vietnam has jumped into 55th place, up five places from last year, on the latest Global Competitiveness Index announced by the World Economic Forum. The country is appreciated for its significant improvements in technological readiness and labour market efficiency, whilst trade is another considerable factor in propelling Vietnam upward.
Conference on Mekong Delta’s sustainable development
The Vietnamese government held a conference on the sustainable and climate resilient development of the Mekong Delta, as it is one of the most vulnerable regions in terms of climate change and rising sea levels. The Mekong Delta is the largest agricultural production area in Vietnam, contributing 54% of Vietnam’s rice output and 70% of the aquaculture yield. Up to 90% of rice and 65% of Vietnam’s seafood exports are produced in the delta.
Prime Minister Nguyen Xuan Phuc speaking at the conference
OceanBank leaders sentenced to death, life in prison
A Hanoi court sentenced OceanBank’s former general director Nguyen Xuan Son to death, and its former chairman Ha Van Tham to life imprisonment, in one of the most high-profile corruption cases in recent years. Both are charged with embezzlement, abuse of power to appropriate assets and the intentional violation of State economic management leading to serious consequences.
Nguyen Xuan Son and Ha Van Tham
Health ministry under inspection for licensing fake drug imports
Vietnam’s Ministry of Health is being inspected for granting licences to the drug company VN Pharma to import and then distribute counterfeit cancer medication. VN Pharma forged documents for the purpose of importing 9,300 packages of H-Capita 500mg, a type of drug used in cancer treatment, from a fake Canadian company called Helix Pharmaceuticals Inc.
Park Hang Seo to head Vietnam’s national football team
Park Hang Seo, former assistant to Guus Hiddink, who led the Republic of Korea (ROK)’s football team during the 2002 World Cup, will be the new head coach of Vietnam’s national football team. As the top assistant to Hiddink, Park played a role in the ROK’s fourth place finish at the 2002 tournament, the best an Asian side has ever performed in the competition.
Vietnam's new coach Park Hang Seo
