Quang Ninh Party Secretary Quan Minh Cuong said the province cannot grow below 10% or its party secretary and chairman would be removed, but argued that not every province should be required to reach 10%, citing the difficult mountainous terrain of Cao Bang. Quang Ninh grew 11% in Q1 and 15% in Q3, and he pledged to keep growth at 15% in Q4. Deputy Prime Minister Pham Thi Thanh Tra said the national economy grew 9.01% in the first nine months and the government remains committed to double-digit growth, despite inflation pressure and some officials' reluctance to take responsibility. Hanoi grew 8.85% in the first nine months and would need 16.55% in Q4 to reach double-digit growth, which Hanoi Party Secretary Tran Duc Thang called very difficult. Hanoi's average CPI rose 4.91% over nine months, above the national figure of 4.52%.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Quảng Ninh khác Cao Bằng, không nên yêu cầu tất cả phải tăng trưởng hai con số
Keywords
Open a keyword to see other news on the same topic.
Related news
- Prime Minister: Cutting intermediary layers in fuel and electricity distribution
Prime Minister Lê Minh Hưng said the government will amend the fuel business decree and restructure the electricity sector to cut intermediary layers and lower input costs for the economy. The draft fuel decree would reduce trader categories to four, and the number of wholesalers is expected to fall to 14-15 under stricter rules, such as owning at least 40 retail stores and storage capacity of at least 15,000 m3. The PM said nine-month inflation was held at 4.52%, but world fuel prices rose 65% to nearly 90%, and without tax adjustments domestic fuel prices could rise 60-80%. Vietnam's fuel prices are low compared with regional peers, and the budget faces a major revenue shortfall, though the government still implements these measures to share the burden with the economy and consumers. The EVN restructuring plan is being submitted to the government, and land and property prices may fall once the amended Land Law is passed.
- Prime Minister: Not Letting People Pay High Prices Due to Intermediary Stages
Prime Minister Lê Minh Hưng said intermediary stages in healthcare, electricity and petroleum distribution will be cut so people do not pay high prices. Under a draft decree on petroleum trading, the number of key petroleum traders is expected to fall to 14-15, with requirements of at least 40 retail stores and storage capacity of at least 15,000 m3. In healthcare, the government will propose amending the Law on Medical Examination and Treatment and the Pharmaceutical Law to cut intermediaries in drug and medical equipment distribution. Inflation was held at 4.52% over nine months, but he said keeping it there will be hard without responsive management, as world fuel prices have risen between 65% and nearly 90%.
- Prime Minister: Cutting Intermediary Stages in Fuel, Electricity and Healthcare Distribution
Prime Minister Lê Minh Hưng said the government will cut intermediary stages in fuel distribution, electricity and healthcare to lower input costs for the economy. The draft new fuel-business decree would reduce the main trader types to 4 and tighten conditions for wholesale traders, with their number expected to fall to 14-15. In healthcare, the government will amend the Law on Medical Examination and Treatment and the Pharmacy Law to remove intermediaries, as medical equipment and drugs have been marked up through overseas intermediary transactions. According to the government's report, inflation was held at 4.52% after 9 months, but world oil prices rising 65% to nearly 90% could push domestic fuel prices up 60-80% without tax adjustments.
- Standing Member of the Party Secretariat: Electricity prices should fall, and rise only if costs increase
Standing Member of the Party Secretariat Trần Cẩm Tú said the General Secretary and State President has asked the government to review electricity prices with the aim of cutting them, raising them only if costs increase, while keeping inflation below 4.5%. He called for tight control of fuel, electricity and water prices, efforts to lower lending rates, and timely land and capital policies for private businesses. On education, he said the shortage of about 100,000 teachers has improved after school restructuring, and a textbook problem is under investigation as directed by the Politburo. The government is also tasked with finalizing job position, staffing and pay plans in Q4 2026. Quảng Ninh Party Secretary Quản Minh Cường argued the 10% growth target should not apply to every province, citing Cao Bằng.
- Using real income and purchasing power as measures of growth quality
At a National Assembly group discussion on the 2027 socio-economic plan, delegates broadly agreed with the government report but asked for a fuller assessment of people's real income and purchasing power. According to the report, average monthly income reached about 9.1 million VND over nine months, up about 9%, while average CPI rose 4.52% and September CPI rose 5.08% year on year, the highest in several years. Real income therefore grew only about half as much as nominal income. Delegate Nguyễn Ngọc Sơn argued that real income should be a measure of growth quality, while Hoàng Văn Tuyên urged careful timing of public service and energy price adjustments and impact assessments on low-income households.
- Pay rises 2 million but essential costs rise... 3 million
At a National Assembly group session on October 18, delegate Châu Quỳnh Dao (An Giang) said pay rises of about 1.5-2 million VND would be outweighed by 2-3 million VND in added essential costs. She cited food costs at traditional markets up 10-15%, boarding rent in industrial areas up 12-18%, and health and education services up about 7.5%. She urged the government to publish a cost-of-living index for low-income groups and to delay public service price increases until six months after a minimum wage rise. Delegate Hoàng Quốc Khánh (Lai Châu) welcomed the increase in commune civil servants' public service allowance from 25% to 55%, but asked for further review and support for staff at commune comprehensive service centers, who do not receive this allowance.
Related markets
Latest news
- JPMorgan's JPM Coin, representing dollar deposits, is coming to Ethereum: Bloomberg
JPMorgan will make JPM Coin, a token representing its dollar deposits, available to institutional clients on Ethereum, according to Bloomberg. The bank says Ethereum's liquidity makes it attractive to crypto companies seeking blockchain payments and to financial firms settling trades or backing tokenized assets. The move extends JPMorgan's blockchain work beyond Base and its private Kinexys network, which processes more than $7 billion daily. The bank did not say when the token will go live on Ethereum. Meanwhile, JPMorgan is among US banks planning a shared tokenized deposit network, but it was not on Swift's list of 17 banks preparing live transactions on its blockchain ledger in July.
- Cerrado Gold Reports 21% Year-Over-Year Increase in Q3 2026 Production Results at Minera Don Nicolas
Cerrado Gold reported Q3 2026 production of 16,685 GEO at the Minera Don Nicolas (MDN) mine in Santa Cruz Province, Argentina, up 21% from 13,832 GEO in Q3 2025. Year-to-date output reached 44,942 GEO, up 23% from 36,432 GEO in the comparable 2025 period. Heap leach output held steady at 9,649 GEO, while CIL output rose to 7,036 GEO as higher-grade Calandrias material, generally above 2.5 g/t gold, was routed to the Martinetas mill. Laboratory tests on selected material showed gold recoveries of up to 95%, versus about 60% expected from heap leaching, and the company now expects full-year 2026 production at the upper end of its 50,000 to 60,000 GEO guidance while targeting a new PEA by late Q1 2027.
- Is Visa Stock Still a Buy After Gaining 14% This Year?
Visa shares hit an all-time high of $401, up about 12% over the past two weeks from $359 at the end of September and up 14% year to date. Key catalysts include approval from the People's Bank of China to set up a bankcard clearing institution in China and the move of Visa Direct's stablecoin to commercial deployment on Oct. 15. Baird and BMO Capital both raised their price targets. Visa reports fiscal fourth-quarter earnings on Oct. 27 and has raised its dividend every year since 2009, last year by 14% to $0.67 per share. The author still considers the stock a buy ahead of earnings, citing a forward P/E of 24.
- Five things to watch in markets in the week ahead
Markets start the week with AI stocks under pressure after hotter-than-expected September inflation raised expectations of higher US rates and fed worries about debt-funded AI spending. Last week the Philadelphia semiconductor index fell 11.41% and the Nasdaq Composite lost 4.48%, with CoreWeave shedding about a quarter of its value and Oracle down 9.31%. Earnings are in focus, with SpaceX and Netflix reporting on Tuesday and Meta and Tesla on Wednesday after the close. Netflix reportedly plans to cut around 6% of its workforce, roughly 1,000 roles, its biggest reduction since 2022. SpaceX has also agreed to buy spectrum licenses from Grain Management for about $8 billion, a move into the wireless market.
- eMemory/PUFsecurity Showcases OCP S.A.F.E.-Approved PUFrt at OCP Global Summit, Strengthening AI Data Center Security with Caliptra
PUFsecurity, a subsidiary of eMemory Technology, was featured at Microsoft's Caliptra Workshop on Oct. 12, the opening day of the 2026 OCP Global Summit, which drew nearly 400 attendees. Its PUFrt received OCP S.A.F.E. Scope 3 approval after an independent assessment of its resistance to physical attacks such as fault injection and side-channel attacks, and is now listed on the OCP Marketplace. PUFrt provides the physical security foundation for Caliptra, an open-source hardware Root-of-Trust architecture, from key generation to chip mass-production testing. It has already been integrated into Caliptra products from ASPEED and security systems from several memory makers and networking chip vendors. The company says the milestone advances hardware security for cloud and AI infrastructure.
- Crypto vault deposits top $10 billion as lending risks draw regulatory scrutiny
Deposits into crypto lending vaults have risen from $4 billion at the start of last year to more than $10 billion, according to the Financial Times. Each vault is run by a 'curator' who selects lending strategies through smart contracts on DeFi platforms, sets risk limits and collects fees, with typical returns of 3% to 10% and riskier strategies reaching 20% or more. Risks include illiquid or hard-to-sell collateral, automatic liquidations, hacks and coding errors, while investors may focus on headline yields. Fintechs, digital asset treasury firms and hedge funds are among the main depositors, and Bitcoin lender Two Prime launched a vault on Pareto targeting 1.5% to 2% yields, with a minimum deposit of 5 WBTC and about $10 million of its own capital absorbing initial losses. U.S. and European regulators are examining whether existing rules should apply, and the SEC has questioned vaults that hold securities.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.