Developing economy

Illustrative image (Photo: https://www.medcom.id/) Jakarta (VNA) – The National Development Planning Agency (Bappenas) of Indonesia is targeting to add 1.8 million workers to the green economy sector by 2030, spreading across energy, electric vehicles, land restoration, and waste treatment. Green Economy Index one of the macro development targets, and include it in the mid-term and long-term national development planning documents. Indonesia , including average gross domestic product (GDP) growth of 6.1–6.5% per year until 2050; and reducing 87–96 billion tonnes of greenhouse gas emissions during 2021–2060, and a 68%-reduction in emissions intensity by 2045. green economy could also help Indonesia increase the area of mangrove forests to 3.6 million ha by 2060, Arifin said./. VNA … [Read more...] about Indonesia targets 1.8 million more jobs to green economy by 2030

Under the action plan, the Government set specific targets for socio-economic development for the regions. The Gross Regional Domestic Product (GRDP) growth in the period of 2021-2030 will reach 8-9% per year, and by 2030, the economic scale of the region will reach about VND 21 trillion (USD 90.5 billion), of which agriculture, forestry and fishery will account for 12-13%, industry and construction 45-46%, and services 37-38%. The GRDP per capita will be VND 140 million (USD 6,000) per year (at the current price), and the total state budget revenue will reach about VND 190 trillion (USD 8.1 billion). The urbanization rate is about 40%, and 80% of communes meet new rural standards, of which 30% meet improved rural standards, and each province has at least three district-level units meeting new rural standards. Regarding the labor force, the rate of trained workers reaches 65-70%, 35-40% of whom have occupational degrees and certificates. The provinces set a target of … [Read more...] about Pushing economic development in northern midland, mountainous regions

Bitexco Group’s Chairman Vu Quang Hoi and Representative of The Dwight Schools, Chancellor Stephen Spahn, signed an agreement to establish the international Dwight School Hanoi. Photo: Bitexco Group Bitexco, one of the leading multidisciplinary economic groups in Viet Nam, with a history of 37 years operating in the fields of real estate, hydropower, construction, financial investment, mining, oil and gas, has expanded its activities to education. On August 11, the Bitexco Group and The Dwight Schools, a leading global network of International Baccalaureate (IB) World Schools, officially formed a partnership to establish the international Dwight School Hanoi, which the group says will realise its ambition to enhance the quality of education and educate the future generation of Viet Nam. The future school will combine the 150-year legacy of excellence from Dwight, a pioneer in the International Baccalaureate program, to deliver the most advanced co-educational program from … [Read more...] about Bitexco develops international school in Ha Noi

Chairman of the Ho Chi Minh City People's Committee Phan Van Mai hosted a reception for Tan See Leng, Singapore’s Minister for Manpower and Second Minister for Trade and Industry on August 11. He affirmed that the cooperation between HCM City and Singapore not only brings benefits to the city but also is an important factor contributing to the common development of Vietnam-Singapore relations. Along with potential fields such as smart city building, urban management and green economy, the city expects to strengthen collaboration and share experience in startup development, helping the city become an innovative start-up centre of the country and the region, the official said. He hoped that Singapore will share experience to improve the dialogue mechanism between the government and foreign businesses in a bid to remove difficulties in the investment process. The city leaders also pledge to create the most favourable conditions for Singaporean enterprises to do long-term business … [Read more...] about HCM City, Singapore enhance cooperation on human resources development

Maciej Duszynski, Chargé d'Affaires a.i of the Polish Embassy, highlighted the growing trade and investment cooperation between the E.U. and Vietnam, saying the E.U. has remained Vietnam’s second largest importer and Vietnam is now the E.U.’s major trade partner. Thanks to that, the long-standing Vietnam-Poland relations have grown constantly in all areas, including the trade of agricultural products and food, he said, taking note of discussions on this issue held by leaders of ministries and agencies from the two sides. The Government of Poland is paying great attention to expanding export portfolios to Vietnam, with final steps being undertaken for the shipment of beef products and blueberries to the Southeast Asian country. Piotr Harasimowicz, Chief Representative Officer of the Polish Investment and Trade Agency in Ho Chi Minh City, said Vietnam has a favorable location in an Asian vibrant market region, and developed infrastructure for trade expansion. Vietnam is also an … [Read more...] about Vietnam, Poland want to step up food trade

The country maintains a reserve of 370,000 cubic meters, which translates into 6.5 days’ consumption, and this is too low, it said in a recent report. The fuel is kept at 24 locations by the country’s biggest fuel distributors since the government does not have its own storage. For the last five years Vietnam has never needed to use this reserve, but the ministry cautioned about unpredictable and urgent regional and global developments. It wants to quadruple the reserve into a month’s requirement by 2025. Fuel distributors are required to maintain stocks to meet 20 days’ demand. But in January-February this year, when one of the country’s two refineries had to cut production due to a cash crunch, they were not maintaining the 20-day supply and this led to a shortage in the market, the ministry said. Gasoline prices surged by nearly 38 percent for the year by June to VND32,870 ($1.40) per liter. It has now dropped to the same level as in January, VND24,660. … [Read more...] about Fuel reserve too small for safety: industry ministry

The province, 380 kilometers to the northwest of Hanoi, said some investors have expressed interest in building the airport. It will be built under public-private partnership, the province People’s Committee added. The Lai Chau Airport project was outlined in the 2018 Air Transport Development Plan. It will span 167 hectare of land and be located in Tan Uyen district, east of the province’s capital town. Currently there is only one airport in Vietnam’s northwest region, the Dien Bien Airport, and the Ministry of Transportation eyes adding four by 2030. Lai Chau is a mountainous province that shares 265 kilometers of border with China, and only connects with Hanoi via National Highway 32. The route is prone to landslides in rainy seasons. Vietnam currently has 22 civilian airports, including 10 international air hubs. Tan Son Nhat in HCMC and Noi Bai in Hanoi are the country’s two biggest airports. … [Read more...] about Northern Lai Chau Province seeks its own airport

A strong business community will build an independent and highly resilient economy. Localities are expected to further create a favorable environment for business operation, especially in simplifying administrative formalities and avoiding petty corruption. Prime Minister Pham Minh Chinh at the conference. Photos: Nhat Bac Prime Minister Pham Minh Chinh stressed the view during a conference between the Government’s leader and business community on August 11, which drew the participation of 1,200 delegates from a business association and local companies. According to Chinh, more than two years since the outbreak of the Covid-19 pandemic, Vietnam has now put the situation under control and maintained positive growth. Vietnam’s GDP  during the six months expanded by 6.42%, higher than the 5.74% rate in the same period last year, and equivalent to the growth rate recorded in the pre-pandemic period 2016-2019 (6.38%). In addition, Chinh also pointed out high … [Read more...] about PM urges favorable environment for businesses

Major General Nguyen Van Gau, Deputy Director of the General Department of Political Affairs of the Vietnam People’s Army and head of the delegation, together with Secretary of the Thanh Hoa Provincial Party Committee and Chairman of the Provincial People’s Council Do Trong Hung co-chaired the session. Reportedly, the resolution has been comprehensively implemented with significant results over the past 10 years. The Party committees and authorities at all levels have built plans, assigned tasks to each agencies, and concretized the resolution to appropriate measures, contributing to maintaining security and social order and safety in the locality. The socio-economic situation of the province has been stable while the people’s living conditions have increasingly improving and the whole-people great unity bloc has been reinforced. These results have created combined strength to firmly build the whole-people’s defense posture in line with the people's security posture, contributing … [Read more...] about MND reviews implementation of Fatherland protection strategy’s resolution in Thanh Hoa

At the conference on August 11, MPI Minister Dung said that thanks to the control of the pandemic and the maintenance of macroeconomic stability, the business sector has reported a positive recovery recently. As of July, the whole country had about 871,000 operating enterprises with tax incurred, an increase of nearly 13 per cent compared to 2021. In the first seven months of 2022, the number of enterprises entering and returning to the market, as well as additionally registered capital into the economy, increased sharply. The number of enterprises entering and re-entering the market was over 130,000 enterprises, an increase of 26.8 per cent on-year, 1.4 times higher than the number of enterprises withdrawing from the market. The total registered capital added to the economy in the first seven months of 2022 reached over $143 billion, an increase of over 37 per cent on-year. According to reports from business associations, the market has recovered over 75-85 per cent compared … [Read more...] about Utilising every opportunity to grow and overcome challenges