Vietnam's number of ministries to drop by 5 in major reshuffle
The Vietnamese government is set to reshuffle its apparatus by reducing the number of ministries by five, while the parliament will have the tally of its committees cut by four.
The information was disclosed by Le Minh Hung, head of the Party Central Committee's (PCC) Organization Commission, at a conference hosted by the Politburo and the PCC's Secretariat on Sunday.
A conference hosted by the Politburo and the Party Central Committee's Secretariat in Hanoi on December 1, 2024. Photo courtesy of Vietnam News Agency.
Hung reported that the government is considering mergers of several ministries and government agencies.
Accordingly, the Ministry of Planning and Investment is planned to merge with the Ministry of Finance, while the Ministry of Transport will merge with the Ministry of Construction.
The Ministry of Information and Communications will merge with the Ministry of Science and Technology to perform state management tasks related to science, technology, and digital transformation.
Some of the Ministry of Information and Communications' duties will be handed over to the Ministry of Culture, Sports and Tourism, the Ministry of Education and Training, and other relevant bodies.
Other proposed mergers include the Ministry of Natural Resources and Environment with the Ministry of Agriculture and Rural Development, executing state management tasks related to agriculture, natural resources and the environment.
The Ministry of Labor, Invalids, and Social Affairs will be dissolved, with its duties transferred to the Ministry of Home Affairs, the Ministry of Education and Training, the Committee for Ethnic Minority Affairs, and related agencies.
The Commission for Management of State Capital at Enterprises and the National Financial Supervisory Commission will cease operations, with their duties going to the Ministry of Finance, the State Bank of Vietnam, and other relevant entities.
The government is also considering dissolving some agencies under ministries, and in the immediate future, rearrange agencies like the State Treasury, General Department of Taxation, General Department of Vietnam Customs, Vietnam Social Security, Market Management Agency, and others, and dissolving some.
Le Minh Hung, head of the 13th Party Central Committee's (PCC) Organization Commission. Photo courtesy of the government's news portal.
Hung also revealed that the National Assembly is preparing to reduce the number of its committees.
The Economic Committee will merge with the Finance-Budget Committee, while the Committee for Social Affairs will merge with the Culture-Education Committee. The Committee for Judicial Affairs and the Committee for Legal Affairs will also be merged.
The Foreign Affairs Committee will cease operations, and its duties will be transferred to the Ministry of Foreign Affairs and other relevant bodies of the National Assembly.
- Read More
S Korea chaebol Lotte eyes hypermarket in northern Vietnam
South Korean conglomerate Lotte is eyeing projects in Thai Nguyen province, an industrial hub in northern Vietnam, firstly a hypermarket.
Industries - Thu, March 27, 2025 | 12:15 pm GMT+7
Dubai-based PDSI eyes $2.6 bln investment in tourism-golf course project in central Vietnam
PDSI Group, a Dubai-based real estate and consulting firm, has expressed interest in developing a $2.6 billion commercial, tourism, and golf course complex in Binh Thuan, a south-central coastal province of Vietnam.
Real Estate - Thu, March 27, 2025 | 11:38 am GMT+7
S Korea's SK set to divest from Vietnam's giant Vingroup
South Korean chaebol SK Group is set to divest from Vietnamese conglomerate Vingroup, according to the former’s annual report 2024.
Companies - Thu, March 27, 2025 | 11:30 am GMT+7
StanChart adjusts USD/VND exchange rate forecast amid changing economic trends
Standard Chartered Bank has adjusted its USD/VND exchange rate forecast, reflecting shifts in global and regional economic conditions.
Economy - Thu, March 27, 2025 | 9:29 am GMT+7
Fund inflows help stabilize Vietnam's stock market: analyst
As fund inflows are typically long-term investments, they play a key role in stabilizing Vietnam's stock market and preventing sharp fluctuations, according to Nguyen Duy Anh, Chartered Financial Analyst (CFA) at Vietcombank Fund Management Co., Ltd. (VCBF).
Finance - Thu, March 27, 2025 | 8:30 am GMT+7
VSIP begins work on industrial park project in northern Vietnam province Thai Binh
Construction of the Vietnam-Singapore Industrial Park (VSIP) Thai Binh commenced on Wednesday in northern Vietnam, with the witness of Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong.
Industrial real estate - Wed, March 26, 2025 | 10:41 pm GMT+7
Vingroup starts building mega urban project in Vietnam's Mekong Delta
Vietnam’s leading private conglomerate Vingroup on Wednesday embarked on construction of the VND28 trillion ($1.1 billion) Vinhomes Green City, the first mixed-use urban development in its ecosystem in the Mekong Delta province of Long An.
Real Estate - Wed, March 26, 2025 | 10:11 pm GMT+7
Indonesia, China cooperate in digital technology
Indonesia and China are expanding cooperation in the field of AI to promote digital transformation, especially in the fields of agriculture and smart cities.
Southeast Asia - Wed, March 26, 2025 | 10:01 pm GMT+7
Indonesia decides to join BRICS New Development Bank
Indonesian President Prabowo Subianto has announced the Government's decision to become a member of the New Development Bank (NDB), a multilateral development bank established by the five founding member states of the BRICS group.
Southeast Asia - Wed, March 26, 2025 | 9:57 pm GMT+7
Major Vietnamese broker SHS to double charter capital
Saigon-Hanoi Securities Corporation (SHS) plans to issue 894 million shares to increase its charter capital from VND8.13 trillion to VND17.07 trillion ($667.6 million), making it one of the top three securities firms in term of charter capital.
Companies - Wed, March 26, 2025 | 8:30 pm GMT+7
Elon Musk company okayed to pilot Starlink satellite internet service in Vietnam
Vietnam has allowed the U.S.'s SpaceX to pilot Starlink low-orbit satellite internet service in the country on a pilot basis until January 1, 2031.
Industries - Wed, March 26, 2025 | 5:18 pm GMT+7
Danish toymaker Lego to open $1.3 bln Vietnam plant next month
Denmark's Lego will officially open its factory in VSIP III Industrial Park in Vietnam's southern province of Binh Duong on April 9.
Industries - Wed, March 26, 2025 | 4:18 pm GMT+7
Top Singaporean firms earn high incomes in Vietnam
Singapore is the second-biggest foreign investor in Vietnam, with over $84 billion in registered investment capital as of end-January and many prominent investors raking in high incomes.
Companies - Wed, March 26, 2025 | 3:45 pm GMT+7
Vietnam, Singapore ink significant deals in Hanoi
Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong on Wednesday witnessed the signing of many cooperation deals between agencies and enterprises of the two countries.
Economy - Wed, March 26, 2025 | 2:51 pm GMT+7
Vietnam's major policies are reshaping economic development
Major policies are reshaping Vietnam's approach to economic development, which focuses on science, technology, and private enterprises, said a leader at the Vietnam Chamber of Commerce and Industry (VCCI).
Economy - Wed, March 26, 2025 | 12:11 pm GMT+7
PM okays over $10 bln urban area project in central Vietnam
The over VND260.3 trillion ($10.16 billion) Cam Lam New Urban Area project in the south-central province of Khanh Hoa has received in-principle approval from Prime Minister Pham Minh Chinh.
Real Estate - Wed, March 26, 2025 | 8:58 am GMT+7
