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He was cited in a resolution passed at the January meeting of the Cabinet. Real estate accounts for 11% of the country’s GDP and, being closely related to many other industries, creates a large number of jobs. But the sector has recently faced difficulties as credit has been tightened and demand has slumped. Many projects have stalled due to a lack of capital. Recent statistics from the Ministry of Construction show that nearly 40% of real estate businesses went bankrupt last year. In the resolution, the PM also tasked the ministry with coming up measures to mitigate the difficulties and report to him before February 15. Last December the PM had once called on banks to cut costs to be able to reduce loan interest rates and foster economic recovery. He instructed the State Bank of Vietnam to get banks to speed up disbursement of loan subsidies. In January interest rates on loans to the property sector ranged from 4.99% to 13%. … [Read more...] about PM orders banks to smooth credit flows to property sector

The following is the full text of the interview. Reporter: This year marks the 50th anniversary of diplomatic relations and 10th anniversary of strategic partnership between Singapore and Vietnam. How do you evaluate the Singapore-Vietnam relations in the past half century, especially in the last decade? What should the two countries do to further our bilateral cooperation and to advance the development of each country? Vivian Balakrishnan: The ties between Singapore and Vietnam have grown from strength to strength since we established diplomatic relations 50 years ago. We are longstanding friends and close partners that enjoy wide-ranging cooperation in many areas, both bilaterally and at multilateral fora. I am heartened that the bilateral relationship has continued to expand and evolve to tackle new challenges over the past decade. Our linkages are particularly strong in trade and investment. The 12 Vietnam-Singapore Industrial Parks (VSIPs) across Northern, Central, … [Read more...] about Prime Minister Pham Minh Chinh’s visit to enhance Singapore-Vietnam relations: Singaporean Foreign Minister

Participants at the ceremony (Photo: VNA) Hanoi (VNA) – The President’s decisions to send seven additional military officers to UN peacekeeping missions were handed over to the officers during a ceremony held by the Ministry of National Defence on February 7. Among those officers, two are sent to the United Nations Mission in South Sudan ( UNMISS ), four to the United Nations Interim Security Force for Abyei ( UNISFA ), and one will serve at the UN mission in Central Africa , replacing their predecessors who have completed their term. At the ceremony, four officials who successfully completed their tasks at UN peacekeeping missions were welcomed back. Sen. Lt. Gen. Hoang Xuan Chien hands over the decisions to the officers (Photo: VNA) Addressing the event, member of the Central Military Commission and Deputy Defence Minister Sen. Lt. Gen. Hoang Xuan Chien affirmed that UN peacekeeping force has contributed to the creation of a strong imprint of Vietnam in … [Read more...] about Additional Vietnamese peacekeepers sent to UN missions

Nguyen Thi Thanh, who said that she was a survivor of the mass killing of about 70 people in Phong Nhat - Phong Nhi Village in the central province of Quang Nam in 1968 by South Korean marines, filed a damages suit against the South Korean government in 2020, seeking ₩30 million as compensation. Thanh said she lost her family members and received gunshot injuries during the incident, the Yonhap News Agency reported. The Seoul Central District Court on Tuesday ruled in favor of Thanh, ordering the state to compensate her the aforementioned amount of money, plus interests. While the South Korean government argued that it was immune to the damages suit filed by a Vietnamese due to an agreement signed between Vietnam, South Korea and the U.S., the court rejected the argument. It also rejected another claim that the South Korean marines’ involvement in the murder has not been clearly proven, or that it was justifiable in the context of the war. Thanh said she was "tremendously … [Read more...] about South Korean court orders state to compensate Vietnamese woman for Vietnam War massacre

ASEAN countries like Vietnam are not spared from the impact of climate change. Rapid economic development also means increasing demand for energy and power to meet the pace of growth, which leads to an increase in CO2 emissions. The journey to a cleaner future Takeshi Masuyama, Managing director, regional head of Vietnam, MUFG Bank, Ltd. The Vietnamese government has announced in various international forums its commitment to address environmental issues, and has firmed up its national net-zero target. In addition, the announcement of the Vietnam Just Energy Transition Partnership (JETP) in last December is another milestone and will further rally the private and public sectors towards accelerating the country’s green transition. MUFG is part of the working group convened by the Glasgow Financial Alliance for Net Zero (GFANZ) supporting the JETP initiative for Vietnam. The sustainability mission Since announcing our Carbon Neutrality Declaration in 2021, MUFG … [Read more...] about Committed to empowering a brighter future

In a ceremony held on Tuesday by the Ministry of National Defence, seven additional military officers were officially dispatched on United Nations peacekeeping missions. Deputy Defence Minister Sen. Lt. Gen. Hoàng Xuân Chiến hands over the State President's decision on Vietnamese military peacekeepers. Among those officers, two will be sent to the United Nations Mission in South Sudan (UNMISS), four to the United Nations Interim Security Force for Abyei (UNISFA), and one will serve at the UN mission in Central Africa, replacing their predecessors who have completed their term. At the ceremony, four officials who successfully completed their tasks on UN peacekeeping missions were welcomed home. “Today, seven officers received the State President’s Decision and the Decision of the Ministry of Defence to go on duty at the United Nations Peacekeeping Mission in the Central African Republic, South Sudan and the Abyei Area,” said Major General Hoàng Kim … [Read more...] about Seven military officers join UN Peacekeeping Mission

Prime Minister Pham Minh Chinh's visit to Singapore aims to affirm both nations’ desire to take their economic connectivity to new heights in the context of a series of new-generation free trade agreements (FTAs) coming into effect and being implemented. Prime Minister Pham Minh Chinh (L) and his Singaporean counterpart Lee Hsien Loong PM Chinh, his spouse, and a high-ranking delegation of Vietnam will pay an official visit to Singapore from February 8 to 10 at the invitation Singaporean PM Lee Hsien Loong. The visit takes place amid the dynamic and strong development of the Vietnam - Singapore strategic partnership across multiple fields. This year will see the two countries celebrate the 50th anniversary of their diplomatic relations and the 10th anniversary of their strategic partnership. In 2022, the exchange of delegations and high-level meetings between the two countries was maintained both regularly and effectively. This saw a trip to Singapore by … [Read more...] about PM’s Singapore visit to take economic co-operation to new heights

Rescuers in Turkey and Syria braved frigid weather, aftershocks and collapsing buildings Tuesday, as they dug for survivors buried by an earthquake that killed more than 5,000 people. Disaster agencies said several thousand buildings were flattened in cities across a vast border region -- pouring misery on an area already plagued by war, insurgency, refugee crises and a recent cholera outbreak. Through the night, survivors used their bare hands to pick over the twisted ruins of multi-storey apartment blocks -- trying to save family, friends and anyone else sleeping inside when the first massive 7.8-magnitude quake struck early Monday. "Where is my mum?" asked a distraught seven-year-old girl who was pulled -- her face, hair and pyjamas covered in dust -- from a collapsed building in Hatay, on the Turkish side of the border. Police officer Zekeriya Yildiz hugs his daughter after they saved her from the rubble in Hatay, southwest Turkey on February 6, 2023. Photo: … [Read more...] about Earthquake kills more than 5,000 in Turkey, Syria

HDBank has achieved 105 per cent of the 2022 targets approved by shareholders. The bank hopes to maintain its high growth momentum with an average rate of more than 25 per cent in the next five years. — Photo courtesy of the bank The Ho Chi Minh City Development Joint Stock Commercial Bank has announced its results for 2022, which show it exceeded all its targets and achieved high growth. Its profit before tax was VND10.27 trillion (US$435.8 million), up 27.2 per cent from 2021 and 105 per cent of the target approved by sharehoders. Its net fee income grew dramatically, while its prudential and profitability ratios were among the best in the industry. The total operating income topped VND5.87 trillion ($249.1 million) for the fourth quarter and VND21.97 trillion ($933 million) for the entire year, a year-on-year increase of 26.8 per cent and 31.1 per cent. The net interest income grew by 29.7 per cent and the net fee income by 53.4 per cent. Operating expenses and credit … [Read more...] about HDBank profits top $436m in 2022, 105 per cent of target

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency. - National Assembly (NA) Chairman Vuong Dinh Hue asked agencies of the NA and its Standing Committee to keep a close watch on the macro-economic situation, as well as financial, monetary, stock and real property markets, while meeting their standing members on February 7. For urgent issues, NA agencies should actively and promptly work with relevant ministers and heads of ministry-level agencies to seek solutions, instead of waiting for question and answer (Q&A) sessions held by the legislative body and its Standing Committee. Read full story - The coming visit to Singapore by Vietnamese Prime Minister Pham Minh Chinh will be a key platform for both countries to reaffirm their excellent ties, said Singaporean Foreign Minister Vivian Balakrishnan in his written interview with the Vietnam News Agency. Read full story - Prime Minister Pham Minh Chinh’s upcoming … [Read more...] about ☕ Afternoon briefing on February 7