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In his speech, Pham Minh Chinh said that such challenges related to population aging, non-traditional security like climate change, epidemics, food, water resources, energy, transnational crime, and cybercrime are developing fiercely, causing serious consequences, while the global economy is facing many headwinds. According to the PM, the world is facing two choices: passively accepting challenges and risks at a very high price, or proactively adapting to, taking advantage of opportunities, solving challenges, and taking peace, stability and development cooperation as goals, the U.N. Charter and international law as the foundation, and dialogue and collaboration as tools. In particular, Vietnam chooses the second choice and hopes its partners also choose it, Pham Minh Chinh stated. Accordingly, Vietnam chooses the basic foundations to develop the country, with the goal of becoming a developing country with modern industry and high average income by 2030, and a developed, … [Read more...] about Prime Minister delivers policy speech at Georgetown University

Many American semiconductor firms have highly valued the huge potential for the semiconductor industry in Vietnam, expressing their hope of opening chip production facilities in the country. The leaders of these companies were speaking during a meeting with Vietnamese Prime Minister Pham Minh Chinh on Wednesday morning (Vietnam time). Prime Minister Chinh and a high-ranking delegation of Vietnam on Tuesday morning (local time) landed in Washington, D.C., the second leg of their business trip to the United States. During the meeting, the prime minister called on U.S. semiconductor enterprises to continue their cooperation with Vietnamese partners and beef up their investment in infrastructure, technology transfer, semiconductor design and production, and human resource training. PM Chinh affirmed that the Vietnamese government and ministries are building a fair and healthy business climate for all enterprises, including those from the U.S.. Vietnamese Prime … [Read more...] about US firms see Vietnam’s great potential for semiconductor industry

According to PwC's research, 96 per cent of Vietnamese consumers are willing to pay for products produced by companies with good business ethics, while 68 per cent of the next generation believes that businesses have a responsibility to combat climate change and its related consequences. At a business level, ESG commitment levels are high, with 80 per cent of companies having made ESG commitments or plans to do so soon. Pham Hai Au, director of Business Solutions at PwC Vietnam, noted that ESG is a topic that has attracted significant attention in Vietnam, ranging from press coverage, events, and conferences, to reports, surveys, and research. “Stakeholders have articulated their views on ESG practices, setting increasingly high expectations when implementing sustainable operations and the transparent disclosure of non-financial information,” he said. “ESG practices are seen as a transformative journey that creates long-term value and opens up new opportunities for businesses,” … [Read more...] about VNU and PwC hold workshop on ESG practices

Vietnamese Ambassador to Japan Pham Quang Hieu grants an interview to the Vietnam News Agency. (Photo: VNA) Tokyo (VNA) – The Vietnam - Japan relations are now in their prime and live up to the countries’ extensive strategic partnership, Vietnamese Ambassador to Japan Pham Quang Hieu said on the occasion of the 50th anniversary of the bilateral diplomatic ties (September 21, 1973 - 2023). Talking to the Vietnam News Agency, he said that over the last 50 years, the countries’ friendship and cooperation have been reinforced unceasingly and developed comprehensively in all aspects, becoming a bright spot in the implementation of Vietnam’s foreign policy of independence, self-reliance, and diversification and multilateralisation of international relations. Japan currently ranks first among providers of official development assistance (ODA), second among labour cooperation partners, third among foreign investors and tourism partners, and fourth among trading partners of … [Read more...] about Vietnam – Japan ties live up to extensive strategic partnership: ambassador

Supermodel Pham Thi Ngoc Thuy at the court. Photo by Thien An Prior to the announcement, a prosecutor from the Ho Chi Minh City People’s Procuracy questioned An and Thuy on matters relating to the VND288 billion ($12 million) worth of assets in dispute. An claimed in his suit that he was the legal owner of nine apartments in HCMC’s District 1, which were registered under Thuy’s name, and which she had rented out. He said the assets were bought with the $3 million he sent Thuy from the U.S. through an agency, supporting his argument that the assets were "bought with his own money [and not related to Thuy]." However, he could only provide the court proof of having sent Thuy VND45 billion in dong and $700,000 in dollars. Responding to An’s claims, Thuy admitted receiving VND45 billion in dong and $700,000 in dollars from An. She argued, however, that the money was their mutual property since it was generated after the two’s marriage. She also said the mentioned figures … [Read more...] about Court delays businessman’s $12M-lawsuit against supermodel ex-wife

The deals were signed in Washington D.C. on Tuesday in the presence of Prime Minister Pham Minh Chinh, U.S. Ambassador to Vietnam Marc Knapper, and President and CEO of the Semiconductor Industry Association John Neuffer. The Ministry of Planning and Investment’s National Innovation Center signed a memorandum with Cadence Design Systems on the design and production of semiconductors. The center also signed a memorandum with Arizona State University to develop human resources for the semiconductor industry. The Ministry of Education and Training signed a memorandum with Intel to develop human resources for hi-tech sectors. Investment minister Nguyen Chi Dung said that the signings will help boost cooperation between U.S. companies in the semiconductor industry and Vietnamese partners. The U.S. is a leading country in the sector, and Vietnam is a land of potential with an ideal geographical location, and a stable political system, he added. The country aims to train 50,000 … [Read more...] about Vietnam signs semiconductor memorandums with US companies

Illustrative image (Source: VNA) Hanoi (VNA) – Just energy transition is significant in the development of workers' skills, the labour market and employment due to the high requirements of green and sustainable economic development, heard a conference held by the German Embassy in Hanoi on September 20. Dr. Guido Hildner , German Ambassador said that in his country, the number of employees working in occupations requiring green skills increased 56.7% to 5 million between 2012 and 2020. This shows that the energy transition is a complex and demanding process, but also provides great opportunities to the people and the economies. Noting that Vietnam has set a target of net-zero emission by 2050, the diplomat said that Germany has supported Vietnam in employment transition by training Vietnamese workers in the fields of electricity, electronics and roof-top solar power installation. Each year, tens of thousands of students are trained in 11 vocational training … [Read more...] about Just energy transition requires higher labourers’ skills: Experts

No matter how expensive it is, many Vietnamese families willingly pay for their children’s education in spite of their tight money situation. Vietnamese parents commonly seek the best education for their children while sacrificing their own needs, said Dr. Le Thi Mai Lien, head of the psychology faculty at the Ho Chi Minh City University of Social Sciences and Humanities. Cutting down on all expenditures but for children’s education As soon as her two children enter the new school year earlier this month, a 43-year-old woman named N.T.T., who resides in Phu Nhuan District, Ho Chi Minh City, had to calculate her family’s expenditure to balance their spending and saving. After the COVID-19 pandemic, T. and her husband's total income decreased by more than VND20 million (approximately US$818) per month, so they have to tighten their belt to stabilize the investment in their children’s education. Years ago when their family was still financially solvent, they would frequently … [Read more...] about In Vietnam, parents spend big on children’s education despite economic woes

Vietnam has maintained a consistent upward trajectory since 2015, reflecting the government's efforts to restructure the economy toward full market-oriented development and international integration. Vietnam has climbed four places to secure the 106th position out of 165 countries and territories in the Economic Freedom of the World index, according to the Canada-based Fraser Institute. Manufacturing of mechanical products at Tam Hop Company in Soc Son District, Hanoi. Photo: Viet Linh/The Hanoi Times The Economic Freedom of the World index evaluates the extent to which policies and institutions support economic freedom. It is published annually by the Fraser Institute in collaboration with the Economic Freedom Network, a coalition of independent research and educational institutions covering nearly 100 countries and territories. Singapore currently leads the world in economic freedom, followed by Hong Kong (China), Switzerland, New Zealand, the US, and … [Read more...] about Vietnam moves up 4 places in Economic Freedom of World index

In January 2000, we established our first branch in San Jose, California, the heart of Silicon Valley. The director of that branch was a patriotic diasporic Vietnamese. But the American Dream did not come true for us. After merely one year of operations, FPT USA had to temporarily stop operating due to a lack of customers. We tried everything, with different people attempting to take the reigns of business development. From a Vietnamese expat to a graduate from prestigious MBA programs. What we received were critics, portraying our managers as "delusional about our corporate capability" and our programmers "weak in both expertise and language skills." It was a total failure. No one cared about a nameless company from Vietnam, a country only known then for the prolonged war. One of our then-potential customers was surprised to learn that it only took one hour to fly from Hanoi to Bangkok. He could not imagine the locations were so close, despite his own flying to Bangkok quite … [Read more...] about Working with American business partners requires understanding their way of thinking