Top 10 prominent events of Viet Nam in 2022

1. Viet Nam fully reopens borders 

Viet Nam has fully resumed international flights and removed restrictions including COVID-19 tests and medical declarations since March 15 after a nearly-two-year hiatus due to the 19-Covid pandemic. 

The reopening not only helps recover the economy, but also affirms that Viet Nam is a safe and friendly destination to foreign tourists in the context that tourism is recovering here and there.

Domestic tourism is making a strong bounce back as it has served more than 100 million visitors so far this year, higher than all forecasts and up 1.5 times compared to this year's target of 60 million.

The country is expected to receive a total of 3.5 million foreign tourists, lower than the preset goal of 5 million and earn about US$ 4.5 billion of revenue. 

2. Bilateral diplomatic highlights

2022 was a year of significant diplomatic achievements for Viet Nam following a scores of important overseas visits by its leaders.

Party General Secretary Nguyen Phu Trong’s official visit to China from October 30 to November 1 made him the first and highest-ranking foreign leader the CPC Central Committee and Party General Secretary and President of China Xi Jinping had received following the 20th CPC National Congress – a top important political event of the Chinese Party and people.

The two countries issued a 13-point joint statement, with strategic contents orienting the bilateral relations in all fields in the time ahead as well as signed 13 cooperation documents in various areas. 

On December 5, Viet Nam and the Republic of Korea upgraded their bilateral relationship to comprehensive strategic partnership level during President Nguyen Xuan Phuc’s visit. 

Prime Minister Pham Minh Chinh had a week-long tour to Europe, from December 9 to 15, to visit Luxembourg, the Netherlands and Belgium, and attend s summit to commemorate 45 years of the ASEAN-EU relations.

The European countries' leaders supported the comprehensive and effective deployment of the EU-Viet Nam Free Trade Agreement and hoped the EU-Viet Nam Investment Protection Agreement would be ratified soon to bolster Europe's investments in Viet Nam, especially in new, hi-tech and strategic fields.

3. Viet Nam elected to UNHRC 

Viet Nam was elected to the United Nations Human Rights Council (UNHRC) for the 2023-2025 tenure on October 11 at the 77th session of the UN General Assembly in New York.

The election result shows that Viet Nam’s active participation in the UNHRC’s activities and its strong commitment and efforts in promoting and protecting human rights have won the acknowledgement, trust and appreciation of the international community.

With its seat in the UNHRC, Viet Nam will have opportunities to contribute to promoting all human rights on the basis of impartiality, cooperation and dialogue.

This is the second time Viet Nam has been elected to the UNHRC. The country was elected to the council for the first time in 2013 for the 2014-2016 tenure.     

4. High GDP growth recorded 

Viet Nam is expected to fulfill, even surpass, 14 out of the 15 socio-economic norms set by the National Assembly. 

Vietnam's economy is projected to expand 8 percent, stronger than the 6-6.5 percent for the year set by the National Assembly.    

Trade turnover is likely to set new record of US$700 billion compared to US$670 billion last year. The amount of FDI disbursement is forecast to incrase to five-year high of US$20 billion. Budget collection is anticipated to see a year-on-year increase of 8 percent.   

5. Tamed inflation  

The Government and Prime Minister directed relevant ministries, agencies, and localities to take steps to keep inflation rate under 4 percent and control the impact of imported inflation, amid rising inflation in many countries around the world.

The country’s low interest rate and responsive monetary policies that have allowed businesses to return to operation, along with tax cuts to support laborers, including income and environmental taxes, to minimize the impacts of the global petrol price hike, and price freezes for some services, including power, healthcare and education, which have contributed to keeping inflation under control. 

6 . Trade value sets new record 

Viet Nam’s trade with the rest of the world hit all time highest of US$700 billion as of December, exceeding last year’s record of US$600 billion.  

Thirty-two commodities recorded export turnover of over US$1 billion each, of which six items fetched $10 billion each, data from the customs authority showed.

Viet Nam continues to enjoy a trade surplus that has been maintained since 2012 (except for 2015 when the country suffered a deficit of $3.55 billion).

The U.S. has been the largest importers of Vietnamese goods while China is Viet Nam's biggest import market.

The Vietnamese economy ranked 26th in terms of export turnover and 23rd in terms of import value, respectively, in 2018. Since then, Viet Nam has been among the world's top 30 countries in the fields.

7. Welfare and financial policies support economic recovery

On January 11, the National Assembly voted to adopt a Government-proposed socio-economic recovery program (Resolution 43) specifying some fiscal and monetary policies to support the socio-economic recovery and development with a total value of nearly VND350 trillion (approximately US$15.4 billion) in 2022-2023.

The resolution focuses on reopening the economy in tandem with enhancing healthcare capacity and pandemic preparedness (VND60 trillion), ensuring social welfare and job creation (VND 53.15 trillion), support for businesses and cooperatives (VND 110 trillion), developing infrastructure (VND 113.85 trillion), and institutional and administrative reforms and betterment of investment environment.  

The recovery program has provided two percent VTA tax reduction worth VND 51 trillion and extend payment of tax and land lease fees with a total of VND 135 trillion. 

These policies have made positive contribution to rein in inflation and keep it at 4 percent. 

8. New resolution on land use issued 

In 2022, the Central Committee of the Communist Party of Viet Nam issued a new resolution on land use in June this year, which states that a more open, market-based mechanism should be set up to determine land prices.

It also specifies that authorities can only appropriate land after compensation and relocation plans are in place.

The resolution also serves as a guideline for the Ministry of Natural Resources and Environment to amend the Land Law in order to resolve various issues related to the property market and land prices.

9. Corruption fight gathers faster speed

In 2022, the sprit of “no forbidden zones, no exemptions, non-stop” in the fight against corruption has been promoted.  

For the first time, six members of the Party Central Committee have been relieved.  

Two high-profile corruption cases were busted with one dealing with bribery related to Covid-19 repatriation flights and the other on bidding for the supply of Covid-19 test kits.

The fight has exposed not only the high-ranking State and Party officials but also executives of the private sector. 

Party General Secretary Nguyen Phu Trong, who is also head of the Central Steering Committee for Corruption and Negative Phenomena Prevention and Control, said enhancing the fight has helped strengthen the Party as well as bolstering the people‘s their trust in the regime. 

10. SEA Games 31 held successfully 

Thanks to good management of the COVID-19, Viet Nam successfully hosted the 31st Southeast Asian Games (SEA Games 31), the biggest sporting event in the region.

The event drew the attendance of around 10,000 athletes, coaches, and referees from 11 Southeast Asian sports teams. 

Apart from the impressive sports achievements, Viet Nam left beautiful impressions in the hearts of international friends about a country that loves sports, is hospitable, a nation that is confident, dynamic, developed, and has the ability to overcome the difficulties of a pandemic to successfully and safely organize the largest sporting event in the region. It also shows that Viet Nam is ready to host larger international events, as well as being open fully to international tourists./.