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The constant rise in fuel prices has caused up to 55 percent of 99,000 fishing boats throughout Vietnam to stay ashore to avoid losses, according to the Ministry of Agriculture and Rural Development, which is calling for financial supports for fishermen. Fuel has become a so huge expense that many fishermen in the country are having trouble making a living. Gasoline and oil demand for fishing activities averages out at 330 million liters per month, according to the agriculture ministry, while the price of diesel 0.05S, the main fuel for fishing vessels, has spiked by 65 percent, or VND11,441 (US$0.49) per litter, since December 2021. In total, fuel costs needed to maintain normal fishing activities have skyrocketed by about VND3.776 trillion ($162.4 million) a month. While fuel costs usually account for 45-60 percent of fishing expenses, the other costs have also increased by 10-15 percent, raising the total expenses by 35-48 percent on average. Meanwhile, the increase in … [Read more...] about Vietnam agriculture ministry urges aid for fishermen as rising fuel prices keep them ashore

AMATA VN Group is said to be one of the leading industrial park developers in Vietnam. It has set up a footprint in the country with a total of six projects – both developed and still under development – covering an area of 2,500 hectares with total investment capital of about $840 million. The group successfully called in over $4 billion of foreign direct investment capital from more than 170 tenants and has created jobs for more than 60,000 local citizens. With a proven record of over 25 years in Vietnam, sustainability has always been a crucial part of its business operations. Through many challenges in the past few years, AMATA is proud to be among the drivers of economic growth in the communities it calls home. AMATA working towards smart and sustainable cities of the future Climate change is an emerging global challenge and the United Nations has been calling for urgent action. The Vietnamese government showed a strong commitment to net-zero carbon emissions by … [Read more...] about AMATA to play a part in smart sustainable cities of the future

Illustrative image (Photo: travelpluto.com) Singapore (VNA) – Singapore on June 21 announced a support package worth 1.5 billion SGD (about 1.08 billion USD) to provide immediate relief for vulnerable people and businesses amid rising inflation . Vulnerable households will receive an additional goods and services tax (GST) Voucher - Cash Special Payment of up to 300 SGD in August and a 100-SGD utilities credit. Eligible taxi main hirers and private-hire car drivers will get a one-off relief of 150 SGD in August to offset higher fuel costs. For businesses, there are higher subsidies for the Progressive Wage Credit Scheme. Accordingly, the co-funding share of eligible wage increases for local lower-wage workers under the scheme in 2022 will go up from 50 percent to 75 percent for resident employees with gross monthly wages up to 2,500 SGD. For wages above 2,500 SGD and up to 3,000 SGD, the co-funding will be raised from 30 percent to 45 percent. An Energy … [Read more...] about Singapore announces 1.08 billion USD support package to fight inflation

To enhance its commitment to music fans and emerging talent, Mastercard has joined forces with acclaimed producer Timbaland’s Beatclub music creator platform. Inspired by the original songs developed for Mastercard’s album, up-and-coming Beatclub music creators were mentored by Timbaland as they remixed two standout tracks. “Our first ever music album featuring the inspiring, original work of 10 rising artists takes our innovative sonic branding approach to an even higher, unmatched level,” said Raja Rajamannar, Mastercard chief marketing and communications officer and president, Healthcare. “From Algeria to Australia and Slovenia to Sweden, each of the artists integrated our melody into their songs and created something that we are all truly proud of! We hope others will enjoy these songs as much as we do.” “The launch of our first ever music album marks a new milestone in Mastercard’s sonic brand journey. The power of music is both universal, yet individual - enabling … [Read more...] about Mastercard launches its first ever music album: Priceless®

Mastercard unveiled its first ever music album, titled Priceless®, at the Cannes Lions Festival of Creativity on June 24.— Photo courtesy of Mastercard Mastercard unveiled its first-ever music album, titled Priceless®, at the Cannes Lions Festival of Creativity on June 24. The album, available first on Spotify and then other streaming platforms, features 10 songs by 10 artists from around the globe. Each song incorporates the recognisable melody of Mastercard’s brand sound. To enhance its commitment to music fans and emerging talent, Mastercard has joined forces with acclaimed producer Timbaland’s Beatclub music creator platform. Inspired by the original songs developed for Mastercard’s album, up-and-coming Beatclub music creators were mentored by Timbaland as they remixed two standout tracks. “Our first-ever music album featuring the inspiring, original work of 10 rising artists takes our innovative sonic branding approach to an even higher, unmatched level,” said Raja … [Read more...] about Mastercard launches its first-ever music album: Priceless®

A Con Cung store. — Photo concung.com The retail market of products for mothers and babies is booming as interest in health is increasing, especially for vulnerable groups such as families with infants and children. The trend to go to specialised supermarkets for mothers and babies has become popular in large centres such as Ha Noi and HCM City and has spread to many cities across the country. Increasingly, modern life makes the demand for shopping in the mothers and babies sector rise. It is not difficult to find baby supermarkets anywhere, such as Con Cung, Bibomart, Kids Plaza, Shop Tre Tho, Tuti care and more. Even nursing mothers do not need to go out but can order products of authorised brands in the market on reputable online sales sites such as Shopee, Tiki, and Lazada so as not to waste time travelling. The attractiveness of the new shopping trend for breastfeeding mothers, along with the large market size, up to billions of U.S. dollars, has lured many large … [Read more...] about Mothers and babies sector booming in VN

Role of press highlighted in promoting development Nguyen Thu Lan, a consultant from a Hanoi-based US-invested investment consultancy firm, two weeks ago completed a digital transformation report for the firm’s three potential American clients, who are exploring Vietnam’s investment climate. Lan had to seek information from many sources for the report, including local newspapers. She also found detailed information on Vietnam’s macroeconomic situation and digital transformation in VIR, which features a new hallmark scheme from the government on supporting industrial enterprises in smart production development. Lan said, “I am very happy as I had been seeking such information for months. More importantly, such information was cited from an original source,” she said. Under the draft scheme, expected to be enacted by the government soon, just over one-third of Vietnamese businesses will implement digital transformation effectively by 2025, and the rate will increase to 85 per … [Read more...] about Role of press highlighted in promoting development

Illustrative photo (Source: moit.gov.vn) Hanoi (VNS/VNA) - Vietnam is targeting to control public debt below 60 percent of gross domestic product (GDP) by 2030 to ensure debt safety and national financial security. The goal was highlighted in the public debt strategy by 2030. Deputy Minister of Finance Ta Anh Tuan said at a two-day workshop held in Thanh Hoa province on June 21 that the public debt strategy issued on April 14 played an important role in the socio-economic development in the 2021-2030 period, which serves as an important basis for continuing sustainable and efficient public reform management and ensuring debt safety and national financial security. Under the strategy, public debt would not exceed 60 percent, government debt 50 percent and foreign debt 45 percent of GDP, and the amount for debt repayment would not exceed 25 percent of the total budget revenue. The strategy targeted that GDP would expand at an average of seven percent per year with … [Read more...] about Keeping public debt below 60 percent of GDP by 2030 targeted

Inadequacies in salary are causing a shift of workers among foreign-invested enterprises. Taiwanese-backed Foxconn, the world’s largest iPhone contract manufacturer, is complaining about a battle to attract more affordable labour with its Chinese rivals in Vietnam. Young Liu, CEO and chairman of Foxconn, this month accused the company’s Chinese competitors of setting up campuses near its base in Vietnam to get closer to its workers. Foxconn’s campus, located in the northern province of Bac Ninh, currently employs around 60,000 workers, and the company has plans to increase that number over the next two years. Once the battle for workers becomes more serious, the company may face the risk of employee shortages. While the Foxconn CEO would not disclose the names of the competitors involved, the current crop of 31 companies – employing around 160,000 workers – that produce Apple products in Vietnam include major names such as Luxshare ICT, Pegatron Vietnam, and BYD Electronics … [Read more...] about Foreign groups battle to retain their workers

A group of young people in Saigon are offering a different perspective on the city with their two-wheeled tours. Founded by Vo Hoang Phuc, Saigon Morning Ride has so far led about 100 tours across Saigon, the former name of Ho Chi Minh City but still popularly used now. “The more [tours] we do, the more interesting things we find in Saigon. Who said there was nothing exciting in Saigon?” Phuc said. Though Phuc believes it to be a shame that so few people are aware of all the interesting things to do in the city, he hopes to offer insights into Saigon’s hidden gems with tours of the city’s alleys, ancient tombs, rice roads, graffiti, Oc Eo Relic, and nighttime haunts. Cyclists take the ferry on the Saigon River early in the morning. Photo: Huynh Vy / Tuoi Tre Exploring Saigon by bicycle At 5:15 am every Saturday, Saigon Morning Ride’s tour guides meet at a coffee shop on Hoang Sa Street in District 3. A few minutes later, guests start to show up. Some … [Read more...] about Seeing Saigon on two wheels