Hanoi (VNA) – Theadoption of some unprecedented measures supporting the COVID-19 fight, thecommitment to achieving net zero emissions by 2050, and new records in thestock market are among the 10 most outstanding economic events of Vietnam in2021. The following is the list selected by the Vietnam News Agency.

1. Some economic targetsachieved and surpassed amid severe impacts of COVID-19 pandemic

The fourth wave of COVID-19infections has taken a heavy toll on the economy and society when prolonged andwidespread social distancing was imposed on many provinces and cities. A largenumber of businesses have faced difficulties and bankruptcy due to disruptionsto global supply chains.

In that context, Vietnam hasmanaged to achieve and surpass some economic targets: the gross domesticproduct (GDP) grew by over 2 percent; trade revenue rose 22.4 percent to over660 billion USD, turning Vietnam into one of the 20 leading economies in termsof international trade; trade surplus reached about 3 billion USD; and theattracted foreign direct investment exceeded 29 billion USD, up by over 0.5billion USD from 2020. These are the fruits of efforts and determination by theentire political system and economic elements in implementing the importantpolicies to realise the twin targets of fighting against the pandemic anddeveloping the economy.

2. Resolution issued topermit some unprecedented measures supporting COVID-19 combat

On July 28, at the firstsession of the 15th National Assembly, the parliament issued Resolution No.30/2021/QH15, which assigned the Government and Prime Minister to makedecisions about and organise the implementation of some measures that haven’tbeen stipulated or are different from the provisions in existing laws andordinances so as to meet urgent requirements in the COVID-19 prevention andcontrol.

Under this resolution, theGovernment promulgated many policies, especially Resolution No. 86/NQ-CP on theurgent anti-pandemic solutions, which has created conditions for ministries,sectors, and localities to proactively take steps against COVID-19, guaranteesocial security, and assist the pandemic-hit people and businesses.

Data from relevant agenciesshow that as of early December 2021, authorities exempted, reduced, or extendedpayment deadlines for about 140 trillion VND (6.1 billion USD) worth of tax andfee for enterprises; provided over 253,000 tonnes of rice for people; disbursed1.754 trillion VND for helping pay salary to workers; and exempted and reducedabout 31 trillion VND in interest and fee for clients of credit institutions.

3. National Assembly adoptseconomic restructuring plan

On November 12, at the secondsession, the 15th National Assembly approved a resolution on the economicrestructuring plan for 2021 - 2025. This resolution pointed out the need toform a reasonable and efficient economic structure, develop many nationalproducts based on new and high technology, make breakthroughs in thecompetitiveness of some key economic sectors, and improve the economy’sself-reliance, adaptability, and resilience.

Amid opportunities and advantagesintertwined with challenges and difficulties, especially when the COVID-19pandemic remains complicated, the Government stressed that this plan needs tobe implemented strongly to accelerate economic recovery and create an impulsefor making breakthroughs in the time ahead.

4. Vietnam commits toachieving net zero emissions by 2050
At the World Leaders Summitof the 26th UN Climate Change Conference (COP26), Prime Minister Pham MinhChinh declared Vietnam’s commitments to climate change response. Accordingly,the country pledged to reduce net emissions to zero by 2050 and agreed tosupport the important declarations and initiatives on forest protection,transition to renewable energy, assistance for local communities’ adaptation,and methane reduction. It also committed to gradually omitting coal fromelectricity production and stopping support for the building of new coal-firedpower plants.

The strong commitments byVietnam have received positive assessment from the international community andshown its leading role in the fight against global climate change in SoutheastAsia and the world at large.

5. Vietnam marks 15 years ofWTO membership, affirms stature in integration
The country marked the 15thyear since it became a member of the World Trade Organisation (WTO) on November7, 2006. According to the WTO, among the 50 countries with the largest trade ingoods in the world, Vietnam has recorded breakthrough growth.

Total trade turnover rose byover 7-fold to exceed 667 billion USD in 2021, from only 84.7 billion USD in2006. The country has continually seen growing trade surplus since 2016, with arecord of over 19 billion USD in 2020. This year, trade surplus still reachedabout 3 billion USD despite difficulties caused by the COVID-19 pandemic.

Together with the WTO, the 17free trade agreements that have come into force or are under negotiation haveturned Vietnam into an economy with its openness equivalent to 200 percent ofGDP.

6. First-ever countrystrategy dialogue between Vietnam and WEF
On October 29, Prime MinisterPham Minh Chinh co-chaired a country strategy dialogue held both in person andvia videoconference between Vietnam and the World Economic Forum (WEF). Theevent was attended by nearly 70 leading businesses in the region and the worldthat have invested or planned to invest in Vietnam. It was a chance for theGovernment to share economic restructuring plans so as to promote thecooperation with enterprises in resuming production and business activities,especially in industrial, export processing, and special economic zones.

7. Vietnam sees higherposition in global soft power rankings
Vietnam is the only ASEANcountry to record a higher position in the Global Soft Power Index Report 2021released by Brand Finance, the world's leading brand valuation consultancy. Itsaw an improvement of 2.5 points in overall score to rank 47th among the 105countries in the list  According to BrandFinance, Vietnam seems to have managed all aspects of its perception quitewell, especially the integration and alignment of its nation brand and thebrands from the country.

8. Vietnam becomes one of top10 emerging logistic markets

In the 2021 Emerging MarketsLogistics Index released by the world’s leading logistics company Agility,Vietnam jumped three places from 2020 to the 8th position in this year’srankings.

In recent years, thecountry’s production and technological capacity has improved considerably,helping attract investment from producers. Amid the world’s logistics industryundergoing a year full of challenges and fluctuations, Vietnam ranking amongthe top 10 emerging logistics markets has opened up promising opportunities forinvestment attraction. It is expected to help achieve the Government’s targetthat by 2025, logistics services will contribute 5 - 6 percent of GDP and growby 15 - 20 percent.

9. New records in stockmarket
In 2021, the stock market ofVietnam set new records. The benchmark VN-Index hit 1,500.8 points, the highestscore so far, on November 25, rising by nearly 36 percent from the end of 2020.Liquidity frequently reached billions of US dollars and set a record of nearly53 trillion VND (almost 2.3 billion USD) on December 23. In the first 11 monthsof this year, domestic investors opened more than 1.3 million securitiesaccounts, higher than the combined number of the four previous years. Domesticinvestors formed the decisive factor in the historic records of the stockmarket this year.

10. First urban rail route inVietnam put into use
On November 6, the Ministryof Transport and the Hanoi People’s Committee officially put the Cat Linh - HaDong urban rail route in the capital city into operation. As the first urbanrail route in Hanoi and the whole country, this mode of public passengertransport is hoped to help reduce traffic congestion in the capital.

The elevated route, 13.05kmin total length, consists of 12 stations, starting at Cat Linh Station andending at Yen Nghia Station, and 13 trains. It was funded by China’s officialdevelopment assistance with total investment of 18 trillion VND, rising by 57percent from the initial estimate. The construction lasted for 10 years andmissed deadlines for multiple times./.