China and India agreed on a series of strategic cooperation

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The Coordinating Minister for Economic Affairs recently reported on the results of strategic cooperation with China, signing a memorandum of understanding (MoU) involving strategic industrial projects with a total investment of 36.4 trillion dongs, which will be located in the previously inaugurated Batang Industrial Park.The cooperation covers annual production of one million tons of iron and steel, meat and seafood processing, ferronickel trading, high-end textile R&D, coal, textile raw materials, tea and jasmine industry cooperation, as well as direct sourcing of agricultural products such as coconut and durian.

He said the government will keep economic growth stable by accelerating state spending by the end of 2025, including social and infrastructure priorities. The current spending by ministries and agencies has reached about TP3T, with a target of TP3T951 by the end of the year, covering projects such as free meals, people's schools, free medical check-ups and rural electrification, as initiated by the President.

To stimulate spending during the year-end holidays, the government has introduced public transportation discounts: 30% discounts on train tickets from Dec. 22 to Jan. 10, targeting 1.509 million passengers; 20% discounts on sea fares from Dec. 17 to Jan. 10, targeting 405,881 passengers; and 13%-14% discounts on air tickets during the same period, targeting 3.5 million passengers; Highway tolls 10%-20% discount.

The series of stimulus measures are expected to boost residential consumption at the beginning of the year, with January consumption expected to reach 116 trillion dong, including 33-34 trillion dong in national shopping day transactions from December 10-16, a target of 30 trillion dong in domestic consumption from December 18 to January 4, and a target of 56 trillion dong in convenience store promotions for the whole month of December.

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