About sectors of economy

Young volunteers visit the Thị Nghè Nursing Home for seniors in HCM City. — VNA/VNS Photo Hồng Giang HCM CITY — The private sector has an opportunity to build geriatric care facilities that provide good care for elderly people, given rising demand for such services, HCM City officials say. According to the municipal Department of Labour, Invalids and Social Affairs, the need for nursing homes for the elderly will continue rising because of the nation’s rapidly ageing population. In Việt Nam, people above 60 years old accounted for over 12 per cent of the total population in 2020; and this is expected to rise to 20 per cent by 2038. The city now has 20 nursing homes, including eight public facilities looking after 1,555 elderly people, and 12 private ones taking care of 1,138 people. Nguyễn Văn Lâm, the department’s deputy director, said at a press meeting on Thursday that encouraging private investment in geriatric care was a necessity. Private nursing homes offer better … [Read more...] about HCM City urges private sector to invest in geriatric care

Wasted resources About 3.9 million tonnes of PET, LDPE, HDPE and PP plastic are used in Vietnam each year. Of these, only 1.28 million tonnes (33 percent) are collected for recycling (CFR). Thus, Vietnam discards up to 2.62 million tonnes of plastic every year, leading to a loss of 75 percent of the material value of plastic, equivalent to US$2.2 – 2.9 billion per year. The IFC-WB report on “Plastics Circularity Opportunities and Barriers” estimated that if all the plastics used in Vietnam were collected and recycled, the total annual value of the recycled products and materials would be equivalent to US$3.4 billion. Carolyn Turk, World Bank Country Director for Vietnam said the rapid urbanization and the expanding middle class have significantly increased the consumption of plastic products and packaging, turning emerging markets in the region, including Vietnam into hot spots of plastic pollution. As investment in waste management infrastructure has not kept pace with … [Read more...] about The Garbage economy, what Vietnam is missing

At a seminar on using science and technology to improve agricultural productivity and quality held in Can Tho city last week, Deputy Minister Tran Van Tung said the Mekong Delta plays an important role in the country’s agricultural production, contributing 55 percent of the country’s rice output, 69 percent of seafood and 70 percent of fruits. It also accounts for more than 90 percent of rice exports and 60 percent of seafood exports. But much of it is sold as raw products at low value. Inconsistent quality is a problem that plagues the region. Climate change and global integration have also adversely impacted the delta’s agricultural production, Tung said. Droughts, floods and saltwater intrusion, often an impact of climate change, have greatly affected productivity and quality. In this context, besides finding measures to mitigate the impacts of climate change and mapping out programs and policies to speed up restructuring of the sector, quickly ramping up the use of … [Read more...] about Vietnam’s agricultural sector urged to modernize technology

Based on “smart city” foundation Following the success in building the e-administration and reforming administrative procedures in the 2012 – 2018 period, Quang Ninh province has built a digital administration based on the implementation of a project building smart cities in the 2019 – 2025 period. Quang Ninh province’s smart cities will take people and tourists as the center. They will be encouraged to help develop tourism services. The local authorities will work to improve management capacity as well as the quality and efficiency of socio-economic activities, creating an attractive investment environment and promoting inclusive development. The province will continue refining legal regulations to facilitate the implementation and development of e-administration, digital ministration and smart cities. The smart city project will be carried out in Cam Pha, Uong Bi and Mong Cai cities. Looking towards knowledge-based economy Quang Ninh was the first province in Vietnam … [Read more...] about Quang Ninh looks toward knowledge-based economy

A view of HCM City. Many banks have temporarily ceased lending to the property sector. — Photo vneconomy.vn Deputy Governor of the State Bank of Viet Nam, Dao Minh Tu, announced at the Government’s March press conference that credit growth in the first quarter of the year had been 5.04 per cent, much higher than the 2.16 per cent rise in the same period last year. He described it as a “quite positive result” that showed the economy had made a significant recovery with people’s lives and businesses returning to normal thanks to the Government’s effective measures against the COVID-19 pandemic. According to a report by the SBV’s HCM City office, credit growth in the country’s main economic hub was estimated at 3.65 per cent in the first quarter. The positive performance has encouraged many banks to set high goals for the full year. At its annual general meeting on March 16, VIB approved a growth target of 30 per cent, much higher than the cap of 14 per cent set by the central … [Read more...] about Not lending to property sector will have mixed effects: analysts

Prime Minister Phạm Minh Chính on May 17 met with Vice President of Sales, Marketing and Operations at Microsoft Asia Pacific Sandy Gupta in San Francisco as part of his trip to the US. — VNA/VNS Photo Dương Giang SAN FRANCISCO — Prime Minister Phạm Minh Chính on May 17 met with Vice President of Sales, Marketing and Operations at Microsoft Asia Pacific Sandy Gupta and other leading officials of Microsoft. During the talks, PM Chính congratulated Microsoft on its successes in recent times and its implementation of a digital transformation programme globally, including in Việt Nam. He said he hopes Microsoft will effectively implement its programmes in Việt Nam and contribute recommendations to help Việt Nam effectively implement its digital transformation programme and build a digital government, a digital society, and digital citizens. The Prime Minister said that Việt Nam has established a National Committee on Digital Transformation, chaired by the Prime Minister, to promote … [Read more...] about Microsoft wants to cooperate with Việt Nam in digital transformation, cybersecurity, green economy: Executive

Prime Minister Pham Minh Chinh on May 17 met with Vice President of Sales, Marketing and Operations at Microsoft Asia Pacific Sandy Gupta in San Francisco as part of his trip to the US. — VNA/VNS Photo Duong Giang Prime Minister Pham Minh Chinh on May 17 met with Vice President of Sales, Marketing and Operations at Microsoft Asia Pacific Sandy Gupta and other leading officials of Microsoft. During the talks, PM Chinh congratulated Microsoft on its successes in recent times and its implementation of a digital transformation programme globally, including in Viet Nam. He said he hopes Microsoft will effectively implement its programmes in Viet Nam and contribute recommendations to help Viet Nam effectively implement its digital transformation programme and build a digital government, a digital society, and digital citizens. The Prime Minister said that Viet Nam has established a National Committee on Digital Transformation, chaired by the Prime Minister, to promote the building of … [Read more...] about Microsoft wants to cooperate with Viet Nam in digital transformation, cybersecurity, green economy: Executive

The United Nations Development Programme (UNDP) last week again warned that the ocean is faced with increasing threats and multiple risks posed by climate change, natural disasters, environmental pollution, over-exploitation of natural resources, and unsustainable economic activities. “Global warming and marine litter are threatening marine resources, including widespread bleaching of coral reefs. Globally, an estimated 8-20 million tonnes of plastic enter the ocean every year. In Vietnam, around 2,000 tonnes of plastic waste leaks from the country into the ocean every day. It is estimated that there will be more plastic than fish in the ocean by 2050,” said Caitlin Wiesen, resident representative in Vietnam of the UNDP. The global ocean economy contributes an estimated $3 trillion per year, or about 5 per cent of the world’s GDP and comprises industries ranging from oil and gas, shipping and ports to renewable energy, fisheries, marine ecosystems and tourism. The value of the … [Read more...] about Blue economy model gathering pace

The meeting was held by the Ministry of National Defense (MND) and chaired by its Deputy Defense Minister Senior Lieutenant General Le Huy Vinh, Head of the MND’s Steering Committee on Administrative Reform and E-Government. At the event, Senior Colonel Vu Quang Mien, Deputy Chief of Staff of the GDL, presented the draft plan of the coordination program. In particular, the two sides will support each other according to their functions and duties for the common goal of improving the quality of logistics services. While coordinating, the two signatories will observe the principle of consensus, State laws, and the MND’s regulations. In terms of coordination goals, the two sides will bring into play their strengths and potential, jointly implement tasks in accordance with the MND’s Plan No.4396 signed on November 4, 2021 on developing an e-Government, towards a digital government in the MND for the 2021-2025 period, with a vision to 2030 and the GDL’s Plan No.557 dated March 31, 2022 … [Read more...] about Viettel assists military logistics sector in digital transformation

Blue ocean scenarios The International Conference on Sustainable Ocean Economy and Climate Change Adaptation, which took place on May 12 and 13, was organized by the Vietnamese Ministry of Natural Resources and Environment, the Norwegian Ministry of Foreign Affairs, and the United Nations Development Program (UNDP). Sessions focused on five main topics: Reviving the blue ocean economy after COVID-19; building coastal cities with infrastructures adapted to the effects of climate change; combatting marine pollution and ocean plastic waste; promoting climate security, gender equality and resilience of vulnerable communities; and financing responses to climate and ocean needs. A report entitled “Blue Economy Scenarios for Vietnam”, presented at the conference, analyzed a number of scenarios, including a basic scenario and a “sustainable development” or “blue” scenario. The blue scenario would yield outstanding benefits in terms of GDP contribution, Gross National Income … [Read more...] about Vietnam pledges action to ensure a sustainable ocean economy