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The 21-year-old athlete received 14,600 points after delivering an impressive performance. China's Lan Xingyu won the gold with 15,433 points while Japan's Tanigawa Wataru finished third with 14,300 points. Previously, Phong earned a gold medal at the 32nd Southeast Asian Games (SEA Games 32) in Cambodia in May after he beat world champion Carlos Yulo of the Philippines. It was the first medal for the gymnastics squad at ASIAD 2023. Earlier on the same day, shooter Pham Quang Huy won the first gold medal for Vietnam after scoring 240.5 points in the men's 10m air pistol event. Vietnamese shooters also won a bronze in the men's 10m air pistol team event with 1,730 points. Vietnamese athletes are aiming to achieve 2-5 gold medals at ASIAD 19 which is close to its achievement at ASIAD 18 in Indonesia in 2018, which is the most successful Asian Games of Vietnam to date with five golds in women's rowing, athletics, women’s long jump, men's pencak silat, and women’s 400m hurdles. … [Read more...] about ASIAD 2023: Vietnamese athlete secures silver medal in gymnastics

A woman buying fruits in Đông Ba Market, Huế City. Economic expert Trần Đình Thiên called for deeper VAT cuts to boost domestic consumption for the rest of 2023. — VNA/VNS Photo Tường Vi Tax cuts are one of the most powerful instruments to boost domestic consumption under the current economic conditions where little room is left for monetary policy. That remark was made by economic expert Trần Đình Thiên at the workshop "Fostering the Development of Domestic Market and Macroeconomic Stability" on Wednesday. He said tax cuts hurt fiscal revenue, but it has to be done to spur consumer spending. In fact, a VAT cut of 2.0 per cent has been introduced under the rationale and it worked: Total retail sales of goods and services rose by 10 per cent in the first eight months of 2023. As the economic indicator began to slow down in recent months, he called for deeper cuts on VAT to keep the ball rolling. He also underlined the need for measures to cut the time lag … [Read more...] about Measures to sustain economic growth for the rest of 2023

A worker in dairy firm Vinamilk (VNM)'s factory. VNM lost 2.3 per cent on THursday. — Photo VNM Vietnamese shares failed to maintain their upward trend on Thursday due to overwhelming selling pressure. The benchmark index declined 0.12 per cent to end at 1,152.43 points. It had closed Wednesday day at 1,153.85 points, an increase of 1.4 per cent. Liquidity declined with over 691 million shares, worth over VNĐ15.8 trillion (US$647.8 million), traded on the southern bourse, down 19 per cent in volume and 13 per cent in value compared to Wednesday’s trading. Overall market conditions were negative, with 211 gainers and 282 losers, while another 59 closed unchanged. Large-cap stocks were hit by profit-taking. Tracking the southern bourse’s largest stocks by capitalisation and liquidity, the VN30-Index lost 0.36 per cent to end at 1,164.45 points. In the VN30 basket, market breadth was also negative with 10 gainers and 18 losers. Most bank stocks fell, causing the overall … [Read more...] about Shares fail to maintain uptrend on selling pressure

Vietnamese scientists making the NanoDragon satellite. — Photo VNSC Việt Nam has leapt two places in the Global Innovation Index (GII) in 2023, ranking 46th out of 132 countries and territories, according to a GII report released by the World Intellectual Property Organisation (WIPO) on Wednesday. According to the report, Việt Nam has continued to show progress in converting innovation input into output performance. The country has jumped from 59th position last year to 57th position this year in terms of input level, while its output level rose one place to 40th position. The GII input pillars include institutions, human capital and research, infrastructure, market sophistication, and business sophistication. Meanwhile, the output performances are knowledge and technology outputs and creative output. Particularly, Việt Nam has maintained its second position among lower middle-income countries in the overall GII after India (40th). Among ASEAN countries, Việt Nam is … [Read more...] about Việt Nam rises two places in global innovation index in 2023

Local authorities of Hưng Yên Province granted investment certificates to Japanese businesses. — Photo VTC News Fourteen Japanese businesses have registered to invest US$732 million in northern Hưng Yên Province's industrial parks. These firms were granted investment certificates by local authorities during a conference here on Wednesday, VTC News reported. The licensed projects included a $132 million plant producing LCD polarising films used for smartphones and cars. The plant, being financed by Nitto Việt Nam Co, has a designed capacity of 48 million products per year. A $45 million Cot Vietnam factory that manufactures electronic components for mobile phones and computers is expected to churn out 144.6 million units annually. Among others were an automotive parts manufacturing plant, capitalised at $50 million; a factory on producing mechanical and engineering equipments valued at $31 million and the construction of ready-built factories for rent, worth over … [Read more...] about Japanese investors pump $732 million into Hưng Yên

The T-bill issuance shows the central bank's determination to stabilise the rising exchange rate. — VNA/VNS Photo The State Bank of Vietnam (SBV) continues its strategy of issuing Treasury bills (T-bills) as part of its ongoing effort to manage surplus capital within the banking system. On Wednesday, the SBV offered 28-day treasury bills worth VNĐ20 trillion (US$833 million) through an auction. As a result, nine out of 12 participants won the bid at an interest rate of 0.65 per cent, higher than the 0.58 per cent on the previous day and 0.49 per cent in the beginning of the week. Also on September 27, the central bank revealed the outcomes of its latest 28-day T-bills auction, which amounted to VNĐ20 trillion and was conducted through the interest-bidding method. Nine out of 11 participants won the bid, with an interest rate of 0.58 per cent a year. This means that the central bank withdrew VNĐ20 trillion from the banking system on Tuesday. It has also successfully … [Read more...] about SBV continues ongoing T-bill issuance with additional $833m offering

The program is dedicated to the 10 young women volunteers who gave their lives for the victory of Dong Loc during the anti-American war. An art performance celebrating the 55th anniversary of the Dong Loc Victory is being produced by the Vietnam Women's Museum and director Le Quy Duong. Titled Huyen Thoai Thanh Xuan (Legend of Youth), the performance is dedicated to 10 young female volunteers who gave their lives for the Dong Loc Victory during the anti-American war. Dong Loc T-junction is located in Dong Loc Commune in the Central province of Ha Tinh, on the legendary Ho Chi Minh Trail. The stage is designed to recreate the Dong Loc battlefield. From 1965 to 1968, the US Army dropped nearly 50,000 bombs and fired tens of thousands of missiles on the Dong Loc T-junction to cut off the transport route to the southern front. To keep the traffic flowing, all human resources were mobilized to clear the road. Ten girls between the ages of 17 and 24 … [Read more...] about Dong Loc battlefield re-enacted at Hanoi museum

The festival is expected to attract numerous visitors. The Vietnam Craft Village Festival 2023 will be held from November 9 to 12 in Hanoi to promote craft village products and tourism. Foreign visitors at the Hanoi Gift Show 2022 in October last year. Photo: The Hanoi Times The festival's program includes a ceremony to honor artisans and craftsmen, the opening ceremony, and an international exhibition of craft village products and One Commune One Product (OCOP) goods at the Imperial Citadel of Thang Long. Nguyen Thi Hoang Yen, deputy head of the Department of Economic Cooperation and Rural Development, told a press conference on September 26 that six events will be held in response to the Vietnam Craft Village Festival 2023, including an art show of traditional cultural craft villages, an international workshop on craft villages with about 250 foreign and domestic delegates, a Vietnam-San Marino trade networking workshop with about 100 participants, … [Read more...] about Hanoi to host Vietnam Craft Village Festival 2023

According to the Ministry of Industry and Trade, 72 countries recognize Vietnam as a market economy, including Canada, Australia, Japan, and South Korea. The UK did so recently with an official letter to the effect. Speaking to VnExpress , a Trade Remedies Authority Department official said since its first anti-dumping investigation case against Vietnam in 2002 the U.S. had been considering the country a non-market economy. In a meeting with the U.S. Secretary of Commerce Gina Raimondo in Washington last Tuesday, Prime Minister Pham Minh Chinh proposed the U.S. to soon recognize Vietnam’s market economy status . The need for recognition of Vietnam's market economy status was also in the joint statement between General Secretary Nguyen Phu Trong and President Joe Biden on upgrading the two countries' relations to a Comprehensive Strategic Partnership. The EU also sees Vietnam as a non-market economy. In 2015, while free-trade agreement negotiations were underway, the EU … [Read more...] about Significance of Vietnam being a market economy

Located in the heart of Hanoi and HCMC’s bustling business districts, the two world-class, energy-efficient buildings are wholly owned and developed by Techcombank. The unveiling of its new headquarters comes as Techcombank celebrates its 30th anniversary and confirms its position among the leading banks in Asia. The two buildings were designed by the world-renowned architectural firm Foster + Partners and are the first buildings designed by the firm to be opened in Vietnam. Each building has a unique design that reflects the historic and cultural heritage of the city. Inside, open designs aim to bring people together to facilitate collaboration and innovation. Jens Lottner, CEO of Techcombank, said that the new headquarters were now in two world-class financial buildings in prime locations in Hanoi and HCMC. The designs by Foster + Partners have created open and collaborative working environments that will encourage innovation … [Read more...] about Techcombank unveils new headquarters in Hanoi, HCMC