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The capital city's authorities intend to build Vietnam's first outlet mall along the highway that connects the city and its international airport. Hanoi is considering building an outlet mall on both sides of the Nhat Tan – Noi Bai Highway. The view of the Nhat Tan - Noi Bai Highway. Photo: Pham Hung/The Hanoi Times The outlet mall will cover an area of 811.57 hectares along the highway that connects the city to the Noi Bai International Airport. If built, it will be the first of its kind in Vietnam. The municipal departments of Industry and Trade, and Planning and Architecture also proposed building the second outlet mall in Soc Son or Thanh Tri districts. An outlet mall offering high-end products whose prices can be discounted by up to 33% will attract customers interested in buying old-fashioned, low-priced items. According to the Hanoi Department of Industry and Trade, the outlet is a new type of shopping center in Vietnam. There have been no … [Read more...] about Hanoi plans an outlet mall along airport highway

Illustrative image (Photo: VNA) Hanoi (VNA) – The State Bank of Vietnam set the daily reference exchange rate at 23,610 VND/USD on February 1, up 1 VND from the previous day. With the current trading band of +/- 5%, the ceiling rate applied to commercial banks during the day is 23,790 VND/USD and the floor rate 22,491 VND/USD. The opening hour rates at commercial banks dropped. Vietcombank listed the buying rate at 23,250 VND/USD and the selling rate 23,230 VND/USD , both down 10 VND from the end of January 31. BIDV reduced both rates by 20 VND to 23,300 VND/USD (buying) and 23,600 VND/USD (selling)./. VNA … [Read more...] about Reference exchange rate up 1 VND on February 1

Prime Minister Pham Minh Chinh speaks at the meeting. (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh outlined main tasks to improve the material and spiritual life of labourers at a meeting on coordination between the Government and the Vietnam General Confederation of Labour (VGCL) in Hanoi on February 1. The ministries of planning and investment; industry and trade; foreign affairs; and labour, invalids and social affairs should coordinate with the VGCL in boosting production and business, expanding the market, creating more jobs for labourers, and improving their skills, the Government leader said. He asked the ministries of construction, natural resources and environment and finance to work together with the confederation in handling issues relating to housing for labourers. The VGCL should coordinate with the ministries of culture, sports and tourism; health; and education and training in building cultural, educational and health care establishments … [Read more...] about PM speaks of major tasks to raise labourers’ material, spiritual life

The ministries of planning and investment; industry and trade; foreign affairs; and labor, invalids and social affairs should coordinate with the VGCL in boosting production and business, expanding the market, creating more jobs for laborers, and improving their skills, the government leader said. He asked the ministries of construction, natural resources and environment and finance to work together with the confederation in handling issues relating to housing for laborers. The VGCL should coordinate with the ministries of culture, sports and tourism; health; and education and training in building cultural, educational and health care establishments in service of laborers, according to the Prime Minister. Specific coordination plans need to be sketched out within this month, he stressed, and mentioned tasks for ministries, agencies and localities regarding institutions for workers at industrial and processing zones, especially those on housing, incentives for fishermen, insurance … [Read more...] about Prime Minister speaks of major tasks to raise laborers’ material, spiritual life

Illustrative image (Photo: baodautu.vn) Hanoi (VNA) – Vietnam is paying attention to mobilising resources to invest in developing green agriculture with an aim to raising the market share of its agricultural exports to the European Union. Last year, Vietnam’s export revenue of agro-fishery-forestry products set a record high of 53.22 billion USD, up 9.3% year-on-year. However, Europe accounted for only 11.3% of its market share. This is a modest number, although the agricultural sector has optimised many advantages of the EU- Vietnam Free Trade Agreement (EVFTA). One of the main reasons is said to be the union’s high requirements on farm imports, while Vietnam’s agricultural production has yet to meet green growth requirements. According to the World Bank’s report, agriculture is the second highest emitter, accounting for 19% of the nation’s total gas emissions in 2020. About 48% of the sector’s emissions and more than 75% of methane emissions are from rice … [Read more...] about Vietnam develops green agriculture to increase exports to EU

Solar panels installed on the rooftops of a seafood processing plant in the Mekong Delta. (Photo: VNA) Hanoi (VNS/VNA) - Vietnam must start monitoring and issuing carbon certificates to exporters and retailers in response to the EU's recently passed carbon levy , said industry insiders and policymakers. The EU’s Carbon Border Adjustment Mechanism (CBAM) by the European Parliament (EP), according to the EP, is to "put a fair price on the carbon emitted during the production of carbon-intensive goods that are entering the EU, and to encourage cleaner industrial production in non-EU countries." The bloc requires exporters to report their commodities' carbon footprints, on which a tax may be levied should carbon emissions during the production of said commodities exceed the EU's carbon regulations. Instead of buying the EU's carbon certificate , Vietnamese businesses could take steps to reduce their own carbon footprints during production, experts said. The … [Read more...] about Vietnam must step up carbon reduction to enter EU markets

Solar panels installed on the rooftops of a seafood processing plant in the Mekong Delta. Instead of buying the EU's carbon certificate, Vietnamese businesses could take steps to reduce their own carbon footprints during production. — VNA/VNS Photo Viet Nam must start monitoring and issuing carbon certificates to exporters and retailers in response to the EU's recently passed carbon levy, said industry insiders and policymakers. The EU’s Carbon Border Adjustment Mechanism (CBAM) by the European Parliament (EP), according to the EP, is to "put a fair price on the carbon emitted during the production of carbon-intensive goods that are entering the EU, and to encourage cleaner industrial production in non-EU countries." The bloc requires exporters to report their commodities' carbon footprints, on which a tax may be levied should carbon emissions during the production of said commodities exceed the EU's carbon regulations. Instead of buying the EU's carbon certificate, … [Read more...] about VN must step up carbon reduction to enter EU markets

Illustrative image (Photo: VNA) Hanoi - The prospect of economic growth and market upgradation is the driving force to attract cash flow into the stock market. Vietnam is among the world's fastest-growing economies with an average GDP growth rate of about 6.5% per year in the period before the COVID-19 pandemic. The target of economic growth in 2021-2025 at 6.5-7% per year was set out at the 13th National Party Congress despite the fact that the economy was severely affected by the COVID-19 pandemic in 2021. However, VinaCapital forecasts that this growth can still be maintained in the 2023-2025 period. High economic growth will support companies listed on the stock market. In 2023, the business results of listed companies may be affected by the slowing growth of exports and consumption and high interest rates. The earnings per share (EPS) growth is forecast to be in single digits in 2023. However, from 2024, when inflationary pressures are gone, central banks around the … [Read more...] about Economic growth and market upgrade to draw capital