Drafting in law

An overview of the NA's fifth session. (Photo: VNA) Hanoi (VNA) – National Assembly (NA) deputies will continue their ongoing fifth session on May 30 discussing important matters, including a draft Law on Electronic Transactions (revised) and a draft resolution on pilot special policies for the development of Ho Chi Minh City. The draft Law on Electronic Transactions (revised) has seven chapters and 54 articles. Compared to the current version, the bill has 31 new and nine amended articles, while erasing a number of regulations in five and eliminating three articles. During the morning discussion, NA deputies will decide the investment policy for the project to construct road from National Highway 27C to Road 656 in Khanh Hoa province which links to Lam Dong and Ninh Thuan provinces, as well as the adjustment of the investment policy for Ka Pet reservoir in Ham Thuan Nam district of Binh Thuan province. In the afternoon, they are scheduled to listen to a proposal and a … [Read more...] about NA deputies continue to discuss draft laws, resolutions on May 30

Fishing vessels are seen at Phu Quy Island in the south central province of Binh Thuan . (Photo: VNA) Binh Thuan (VNA) – The south central province of Binh Thuan is raising public awareness in the fight against illegal, unreported, and unregulated (IUU) fishing and the implementation of the 2017 Fisheries Law. The moves come as part of the country's180-day action plan for IUU fishing prevention and control. Since the beginning of this year, the provincial Fisheries Sub-Department has coordinated with localities to organise six classes for 450 fishermen, especially those working on offshore fishing vessels and groups with a high risk of committing to IUU fishing. IUU fishing and illegal fishing in foreign waters. Local vessel owners and captains of offshore fishing ships signed commitments not to violate foreign waters. From July 2019 to June 2021, no fishing boats or fishermen violated foreign waters. However, from mid-2021 until now, there have been eight cases … [Read more...] about Binh Thuan province promotes awareness to fight illegal fishing

Speakers at a meeting in HCM City on Monday to discuss ways for the city to attract remittances and investment. — Photo danviet.vn HCM City will improve its business climate and create favourable conditions to attract remittances and investment, said a city official. Speaking at a meeting on Monday, Nguyen Duc Lenh, deputy director of the State Bank of Viet Nam (SBV) HCM City branch, said the city planned to enhance monetary and foreign exchange policies and remittance services. Options for remittances include money transfers, cheques, bank transfers, prepaid cards and several other ways of sending money without a bank account. "Besides foreign investment (FDI), remittances are a major source that helps ensure the foreign currency supply and stabilise the national foreign exchange reserves," he said. Financial and banking expert Nguyen Tri Hieu said Viet Nam should ensure stable macroeconomic policies to increase the confidence of overseas Vietnamese to send back money for … [Read more...] about HCM City seeks to attract remittances, investment

Last year, Vietnam welcomed over 3.66 million foreign visitors, or over 73% of the target. This year’s figure is set at 8 million, which is an uneasy task. The number of foreign arrivals reached 3.7 million in the first four months of this year, hence, the tourism sector must race to meet the goal. The Ministry of Culture, Sports and Tourism, together with several foreign diplomatic missions in Vietnam, the European Chamber of Commerce, the American Chamber of Commerce in Vietnam, the Vietnam Business Forum, the Tourism Advisory Board and the Private Economic Development Research Board (Board IV) also made proposals for a more favorable visa policy to improve the competitiveness of Vietnam’s tourism industry. Suggested changes in the visa policy are related to the amendment and supplementation of several articles of the Law on Entry and Exit of Vietnamese Citizens and the Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam. If approved, the new entry and visa … [Read more...] about Favorable visa policy urged to draw tourists

HCM City seeks ways to attract more remittances. (Photo: VNA) HCM City (VNA) – The southern largest economic hub of Ho Chi Minh City is striving to achieve an annual growth rate of at least 10% in the inflow of remittances during the 2023-2025 period and maintains this rate in 2025-2030. The information was heard at a seminar held in the city on May 29 by the State Committee for Overseas Vietnamese Affairs of HCM City, in coordination with the State Bank of Vietnam (SBV) Branch in HCM City to seek comments and solutions of overseas Vietnamese intellectuals to effectively attract and optimise remittance resources in the city. Remittances to Ho Chi Minh City have always maintained a relatively high growth rate and play a crucial role in the city’s socio-economic development. (Photo: VNA) According to Nguyen Duc Lenh, Deputy Director of the SBV Branch in HCM City, remittances to the city have always maintained a relatively high growth rate and play a crucial role in … [Read more...] about HCM City seeks ways to attract more remittances

Vietnamese e-wallet MoMo has partnered with Apple to introduce Apple Installments, which allows users to own Apple products through flexible payment plans ranging 6-24 months. The US tech giant launched an online store in Vietnam in May. Optimism rises for fintech development opportunities, illustration photo/ Le Toan Do Quang Thuan, senior deputy director in charge of financial services at MoMo, said, “As we seamlessly integrate into the online Apple Store, we present Vietnamese users with an unparalleled range of payment options. It’s a gateway to unlocking their dreams of Apple ownership while maintaining a firm grip on their financial equilibrium.” The landscape has become increasingly competitive in Vietnam, driving innovation and advancements in digital payment solutions. Breaking new ground in the Vietnamese market, MoMo is also the first local partner to offer cashless payment options for YouTube Premium. The strategic collaboration brings added convenience … [Read more...] about Optimism rises for fintech development opportunities

Officers of Vietnam's Engineering Unit Rotation 1 and Level-2 Field Hospital Rotation 4 depart for the UN missions in Abyei and South Sudan, respectively, in late April 2022. (Photo: VNA) Hanoi (VNA) – An international workshop held in Hanoi on May 30 stressed the crucial role of female police officers in UN peacekeeping operations as well as the importance of promoting diversity in conflict settlement and post-conflict peace building. The event was organised by the People’s Security Academy and the UN Entity for Gender Equality and the Empowerment of Women (UN Women) with support from the Canadian Government. It was part of a regional project named “Empowering Women for Sustainable Peace: Preventing Violence and Promoting Social Cohesion in ASEAN” funded by the Canadian and Republic of Korean governments. Vietnamese and foreign participants discussed measures for promoting female police officers ' engagement along with gender equality in UN peacekeeping operations. … [Read more...] about Workshop spotlights female police officers’ role in UN peacekeeping operations

Market Management Department staff check goods in the northern province of Vinh Phuc. — VNA/VNS Photo Consumers and businesses are called on to join authorities in the fight against counterfeit, fake, and smuggled goods on online shopping platforms. The issue has been receiving more attention due to the booming popularity of e-commerce in Viet Nam. Statistics from the Viet Nam E-commerce Association (VECOM) show that in 2021, Viet Nam’s retail e-commerce market size reached US$13.5-13.7 billion. In 2022, the figure increased to $16.4 billion and is forecast to reach about $38 - 39 billion by 2025. According to experts, the buying trend of consumers has changed rapidly in the past three years due to the COVID-19 pandemic, from consumer goods, food, drinks, fashion, and cosmetics. However, according to preliminary statistics from the Ministry of Industry and Trade (MoIT), authorities receive about 1,500 complaints via hotlines and written documents related to online shopping … [Read more...] about Consumers, businesses urged to join fight against counterfeit goods online

A steel factory in Ba Ria-Vung Tau Province. — VNA/VNS Photo Hoang Nhi As many as 88,000 enterprises in Viet Nam have withdrawn from the market in the first five months of this year, up 22.6 per cent year-on-year, said the General Statistics Office (GSO). Of the sum, 55,200 enterprises temporarily ceased operations, up 20.3 per cent against the last year's same period. Another 25,500 were in the dissolution process, a yearly rise of 34 per cent and 7,300 completed dissolution procedures, up 6.5 per cent year-on-year. On average, 17,600 businesses withdraw from the market every month, the GSO said. From January to May, over 61,900 new enterprises were formed with a total registered capital of VND568.7 trillion, down 2 per cent in the number of firms and 25.3 per cent in capital from the same period last year. The average registered capital of a newly-established enterprise also dropped 24 per cent year-on-year to VND9.2 billion. Besides, nearly 95,000 enterprises have … [Read more...] about Up to 88,000 businesses in Viet Nam withdraw from market