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A coastal route costing nearly VND1 trillion (US$42.5 million) has been put into use for economic development in Khanh Hoa Province, south-central Vietnam. The coastal route was put into operation in Van Ninh District, Khanh Hoa Province on Monday morning. The road, stretching from National Highway 1 to Dam Mon Peninsula in Van Phong Bay, located in Van Ninh District, is about 14.3 kilometers long and 34 meters wide with six lanes. The project was developed by Van Phong Economic Zone Management Board, and the construction was initiated in 2016. The road was built to create favorable conditions for transport infrastructure in the region, connect Hon Lon Island with other islands in Van Phong Bay, and gradually complete the infrastructure of the northern area of the Van Phong Economic Zone. The first cars to travel on the coastal route in Khanh Hoa Province, Vietmam. Photo: Minh Chien / Tuoi Tre Van Phong to become the center of a green economy At the … [Read more...] about $42mn coastal route put into use to boost economic development in south-central Vietnam

Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Commercial banks that underwrite and sell corporate bonds have to buy them back if investors so demand, the central bank has said. It followed a meeting with voters (members of the public) the State Bank of Vietnam (SBV) held in Ho Chi Minh City amid the ongoing bond market troubles. Besides asking for underwriting banks to take responsibility for redeeming bonds, the voters also urged the SBV to tighten inspection of credit institutions to ensure they comply with regulations while investing in bonds. The SBV recently raided 11 banks and fined a number of them for violating regulations related to bond purchases. Under current regulations, banks must have an internal credit rating system and can only buy bonds if their bad debts ratio is below 3%. For bonds sold in the domestic market, when issuers cannot pay in full and on time the bond principal and interest, they must negotiate with bondholders for extending the term … [Read more...] about Banks underwriting bonds should buy back bonds: Central bank

Illustrative image (Photo: VNA) Ninh Thuan (VNA) – The south central province of Ninh Thuan will hold a grape and wine festival from June 13-18 to highlight the local products and culture. The opening ceremony is slated for June 16 evening. On the occasion, the locality will also hold a ceremony receiving UNESCO’s certificate recognising the pottery making art of Cham ethnic people as an Intangible Cultural Heritage in Need of Urgent Safeguarding. A tourist tastes wine in a grape orchard. (Photo: VNA) Activities during the festival are designed in response to the 2023 National Tourism Year themed “Binh Thuan – Green Convergence”. Grapes were introduced to Ninh Thuan province in the 1960s. With its hot and dry climate and sandy soil, Ninh Thuan has favourable conditions for grape cultivation, making it a unique agricultural product of the region. Ninh Thuan grapes have been certified for geographical indication by the National Office of Intellectual Property. … [Read more...] about Ninh Thuan grape and wine festival 2023 to be held in June

In his remarks, Chairman of the People’s Committee Phan Van Mai highlighted the increasingly close ties between the two countries, saying over the past 50 years, the bilateral relationship has grown actively across spheres, both bilaterally and multilaterally. The good traditional friendship has also been consolidated and enhanced, the official added. Notably, during the COVID-19 pandemic, Vietnam presented Italy with more than 300,000 masks, while Italy donated 2.8 million doses of vaccines to the Southeast Asian nation. This vividly demonstrates the intensive and effective strategic partnership and friendship between the two countries, he said. Ho Chi Minh City, for its part, has actively worked to promote cooperation with Italy, Mai noted, adding that the relations between Ho Chi Minh City and Italy have reaped achievements in trade, investment, education and training, culture, and tourism. According to the official, the two-way trade reached 591 million USD last year. For … [Read more...] about 50th anniversary of Vietnam-Italy diplomatic ties celebrated in Ho Chi Minh City

At the event, experts and delegates proposed ideas for enterprises to carry out their social responsibility for environmental protection, and underlined the benefits that it brings. Nguyen Dinh Phuc, Vice Chairman of the municipal Union of Science and Technology Associations, said more enterprises are willing to use their corporate social responsibility (CSR) fund to finance environmental projects carried out by social organizations. However, the coordination between the two sides still faces certain issues, he said, adding that events like this program will help the sides find shared values and enhance their cooperation in the future. The activity was part of a project on pooling financial resources for sustainable biodiversity conservation and environmental protection in Da Nang city, or known as Vietnam Wildlife Conservation Fund project, which is funded by the European Union Delegation to Vietnam. The project aims to establish a fund for the conservation of wild flora and … [Read more...] about Enterprises’ social responsibility in biodiversity conservation highlighted

To improve project readiness and provide opportunities to attract investment from Vietnamese and international investors, the schemes will receive tailored one-to-one and group support. This will include advice on technical aspects, financial models, materials, and advice on enhancing gender equality and social inclusion. The CFA is part of the UK government’s efforts to help Vietnam meet the commitments made by Prime Minister Pham Minh Chinh at COP26 in Glasgow two years ago, and offer support to implement the Vietnam Just Energy Transition Partnership (V-JETP) that was agreed upon in December last year. “The exciting and innovative projects selected to be part of CFA Vietnam underline the significant potential of the Vietnamese private sector to help tackle the climate crisis," British Ambassador to Vietnam, Iain Frew, said. "The expertise shared with these projects will help move them closer to finding investment, leading to reductions in carbon emissions for communities across … [Read more...] about Innovative low-carbon projects join UK’s climate finance scheme

The number of tourists to a UNESCO-recognised My Son Sanctuary in the central province of Quang Nam has been on the rise, nearly equal to prior to the Covid-19 pandemic. According to the management board of My Son world cultural heritage site, the site has seen a monthly rise in travellers this year. Between January and March 20, My Son attracted 80,000 tourists, some 1,200 people visited the site daily before the pandemic. Tourists in My Son Besides South Korea, Japan and Europe, My Son has lured more tourists from markets such as Malaysia, Indonesia, Singapore and India. Visitors from India have sharply increased, accounting for 10 percent of the travellers to My Son. Phan Ho, director of the management board of My Son World Cultural Heritage Site, said that a goal of 180,000 tourists, including 130,000 foreigners had been set. Ho believed that this target would be fulfilled based on the return of foreign holidaymakers, especially those from South Korea and … [Read more...] about Tourists to My Son Sanctuary surges

The Hai Ba Trung Pedestrian Street was opened on Sunday evening in Hue City, becoming the third walking street in the central province of Thua Thien-Hue. The Hai Ba Trung Pedestrian Street is opened in Hue City on March 26 The 850-metre street is located by the south of Huong River and Hoang Thanh night street. It operates from 6 pm until midnight every Friday, Saturday and Sunday. This is the third walking street in the central city. Two others include a pedestrian zone around the iconic Imperial Citadel, and the backpacker precinct at the intersection of Vo Thi Sau, Chu Van An, and Pham Ngu Lao streets. Speaking at the opening ceremony, Chairman of Hue City People’s Committee Vo Le Nhat, said that Hai Ba Trung pedestrian street was open on the occasion of the 48th anniversary of the Liberation Day of Thua Thien-Hue province (Mar 26, 1975 - March 26, 2023). "The pedestrian street is expected to create a new place for entertainment, sightseeing, … [Read more...] about Third pedestrian street opens in Hue City

Danang authorities are calling at least 50 hotels and restaurants in Son Tra District to offer free toilet facilities for tourists as part of an effort to boost hospitality in the central city. A hotel in Son Tra has offered free toilets for tourist This move is part of efforts to promote the city’s Comfort as Home campaign to provide free bathrooms for travellers. The campaign was launched in Danang’s Son Tra and Hai Chau districts in 2015. Son Tra District’s Department of Natural Resources and Environment has been assigned to support local hotels and restaurants with Comfort as Home-Free Toilet stickers. The stickers will be at the front entrance and toilet entrance. … [Read more...] about Danang hospitality sector called on to open more toilets

The meeting between President Vo Van Thuong and the Supreme People’s Court in Hanoi on March 27. (Photo: VNA) Hanoi (VNA) – Politburo member and State President Vo Van Thuong had a meeting with the Party’s civil affairs board and leaders of the Supreme People’s Court in Hanoi on March 27. The number of cases handled by courts at all levels has increased about 6% annually while the quality of courts’ judging and settlement of cases has also recorded progress. The rate of the verdicts cancelled or amended due to subjective causes was low, under 1.5%, according to a report delivered at the meeting. The application of information technology to hold online trials has helped save a large amount of money for the state budget and also won high evaluation from the public, said Chief Justice of the Supreme People’s Court Nguyen Hoa Binh, who is also a Politburo member and Secretary of the Party Central Committee. Applauding the court sector’s achievements, President Thuong highlighted … [Read more...] about State leader requests courts to further improve judging quality