Ho Chi Minh City Intensifies Efforts to Attract Talented Individuals and Boost National Programs

The Ho Chi Minh City People’s Committee has issued directives to accelerate the implementation of key national programs, aiming to bolster the city’s scientific and technological prowess, promote rural development, and enhance the quality of life for its citizens. These initiatives underscore the city’s commitment to innovation, economic growth, and social progress in alignment with national development goals.

Ho Chi Minh City’s Strategic Push to Attract Top Talent and Build a Stronger Knowledge Base

In a significant move to elevate its scientific and technological landscape, the Ho Chi Minh City People’s Committee has officially launched a comprehensive strategy to attract and retain highly skilled professionals and researchers. This initiative is rooted in the implementation of two pivotal government decrees: Decree 231, focused on the construction and development of scientific and technological infrastructure, and Decree 249, which outlines policies and incentives for attracting experts in science, technology, innovation, and digital transformation.

The city’s leadership has mandated that all departments, sectors, and district-level authorities meticulously identify and assess their current needs in scientific and technological development. This proactive approach involves conducting thorough reviews to pinpoint specific projects, programs, and tasks that require the recruitment and engagement of leading scientists and experts. The aim is to create a dynamic ecosystem that fosters groundbreaking research, drives technological advancement, and propels the nation towards a more innovative future.

A key component of this strategy is to actively connect with, identify, and recruit Vietnamese expatriates and international experts who possess distinguished academic and professional backgrounds. The city is particularly keen on attracting talent in strategic technological fields, including cutting-edge technologies and those with the potential to drive significant economic growth and innovation. By creating a welcoming and supportive environment, Ho Chi Minh City seeks to become a magnet for the brightest minds, both domestically and internationally. This influx of expertise is expected to accelerate the city’s transition into a knowledge-based economy and solidify its position as a regional hub for innovation and technological development. The long-term vision is to leverage this talent pool to address complex challenges and seize emerging opportunities in the global landscape.

Accelerating National Key Programs: Ho Chi Minh City’s Commitment to Modern Rural Development and Poverty Reduction

Ho Chi Minh City is making a concerted effort to expedite the implementation of its national key programs, particularly those focused on building new-era rural areas and sustainable poverty reduction. The city’s People’s Committee has issued directives to accelerate the execution of the national program for building new-era rural areas and reducing multidimensional poverty, alongside developing the socio-economy in disadvantaged areas, with a target of achieving significant progress by 2030.

The Department of Agriculture and Rural Development is designated as the primary coordinating body for these initiatives. It will work closely with relevant departments and sectors to develop a comprehensive action plan and establish clear operational guidelines for the steering committee. A critical task for the department is to propose and submit for approval by the City People’s Committee a set of criteria for evaluating new-era rural communes and advanced new-era rural communes for the period 2026-2030. This framework is expected to be finalized and submitted by July 2026.

Furthermore, the department is tasked with collaborating with relevant agencies to draft and submit regulations for poverty reduction criteria applicable to the period 2027-2030 by September 2026. These measures are designed to ensure that poverty reduction efforts are targeted, effective, and sustainable, ultimately improving the livelihoods of vulnerable populations and fostering balanced socio-economic development across the city. The focus on disadvantaged areas highlights the city’s commitment to inclusive growth and ensuring that no community is left behind in its development trajectory.

Ho Chi Minh City Champions Sustainable Agriculture: A Drive Towards Low-Carbon Rice Production

The Ho Chi Minh City People’s Committee is proactively pushing forward with the development of a detailed action plan to implement Resolution 4024 of the Minister of Agriculture and Rural Development. This resolution, approved by the Prime Minister, outlines the strategy for "Low-Carbon Rice Production in the Period 2025-2035, with a Vision to 2050" on the city’s territory.

The overarching goal of this initiative is to stimulate the production of low-carbon rice within the agricultural sector, aligning with the national objective of developing green agriculture and ensuring climate change resilience. This strategic shift aims to foster a more sustainable and environmentally conscious agricultural system that contributes to both economic prosperity and ecological preservation.

By 2050, rice production is envisioned to evolve into a low-carbon, modern, and efficient sector, playing a crucial role in the green transition of the agricultural industry. To achieve this ambitious target, the city will encourage the cultivation of perennial crops with high carbon sequestration capabilities. This involves transitioning certain paddy fields to carbon-capturing crops or adopting integrated rice-aquaculture models that significantly reduce methane emissions during rice cultivation.

A key priority in this transformation is the completion of a water management system that ensures optimal resource utilization and minimizes the environmental impact of agricultural practices. The Ho Chi Minh City People’s Committee will directly oversee the establishment of concentrated production models for high-value agricultural products such as high-quality rice, tubers, and diverse food crops. These modern farming techniques are expected to enhance efficiency, reduce waste, and promote a more sustainable approach to agriculture.

Enhancing Benefits for Military Personnel and Veterans: A Notable Increase in Allowances

The Ministry of National Defence has issued a directive to adjust the monthly allowances for military personnel serving in various capacities, including those in reception, discharge, and retirement. This adjustment aims to provide enhanced financial support to a significant segment of the population, recognizing their contributions and service.

The directive, effective from August 30th, stipulates that starting July 1st, the monthly allowances for these individuals will be increased by 8% compared to the rates applicable in June 2026. This incremental adjustment is calculated by multiplying the allowance rate from June 2026 by 1.08.

The affected categories include military personnel who have served in the anti-American war for national salvation, those who served abroad in Cambodia, and those who performed international duties in Laos after April 30, 1975. These individuals, who have dedicated substantial periods of their lives to national defense and security, will now receive increased monthly allowances upon their discharge, demobilization, or retirement.

The adjusted allowances will be tiered based on the length of service within the military. Specifically, for individuals with 15 to 16 years of service, the monthly allowance will be VND 2.838 million. Those with 16 to 17 years of service will receive VND 2.966 million. Personnel with 17 to 18 years of service will be entitled to VND 3.097 million, while those with 18 to 19 years of service will receive VND 3.227 million. Finally, individuals with 19 to 20 years of service will be granted VND 3.353 million per month. This tiered approach acknowledges the increasing commitment and experience of long-serving military personnel.

Addressing Pension Fund Gaps: Ensuring Fair and Timely Benefits for Retirees

The Social Insurance agency in Hanoi has reported that as of July 21st, over 92,000 individuals have submitted applications to authorize the receipt of pension and social insurance benefits. This represents a significant portion of those eligible, with approximately 99.68% of beneficiaries having completed the necessary procedures. However, a small but notable percentage, around 0.32%, still needs to complete these authorization steps.

The new Social Insurance Law of 2024 introduces a crucial provision regarding the validity of proxy authorizations for pension and social insurance benefits. Under the revised law, a proxy authorization letter remains valid for 12 months from the date of its issuance. Consequently, proxy letters issued before July 1, 2025, will only remain effective until June 30, 2026. This change aims to ensure the accuracy and timeliness of benefit disbursements and to encourage beneficiaries to directly manage their entitlements where possible. The agency is actively encouraging those who have not yet completed their authorization to do so promptly to avoid any disruption in their benefit payments.

Interest Rates for Interbank Loans Witness Fluctuations

According to research from the Vietnam Interbank Market Association, the average interest rates in the interbank market for Vietnamese Dong (VND) experienced mixed movements during the trading session on July 20th, showing some volatility compared to the previous week’s close.

Overnight lending rates decreased by 0.05 to 0.2 percentage points, while rates for terms of two weeks to one month increased by 0.1 to 0.5 percentage points. Specifically, the overnight lending rate stood at 3.7% per annum. The one-week term rate was 4.6% per annum, the two-week term rate was 5.9% per annum, and the one-month term rate was 7.1% per annum.

For the US Dollar (USD) interbank market, average interest rates saw a slight decrease of 0.01 percentage points for overnight to one-month terms. However, rates for one-week to two-week terms remained unchanged. At the end of the session, the overnight lending rate was 3.65% per annum, the one-week term rate was 3.7% per annum, the two-week term rate was 3.75% per annum, and the one-month term rate was 3.79% per annum.

On the government bond market, interest rates exhibited divergent trends across different maturities. Specifically, the interest rate for a three-year term was 3.58% per annum. For a five-year term, it was 4.21% per annum. The seven-year term rate was 4.27% per annum, the ten-year term rate was 4.4% per annum, and the fifteen-year term rate was 4.58% per annum. These fluctuations reflect the dynamic interplay of market forces, monetary policy, and economic outlook influencing the cost of borrowing and lending within the financial system.