Encourage into action

Seven international partners will support the investment in infrastructure, transport, urban development, and climate response. Nearly US$8 billion will be pumped into Vietnam's Central Coast region to support the socio-economic development of the region towards sustainability and climate adaptation. An overview of the signing and awarding ceremony. Photo: Trung Nhan/The Hanoi Times The value was announced at a signing ceremony held on February 5 between the Ministry of Planning and Investment and international partners. Accordingly, the local authorities granted investment certificates and approved investment policies and investment cooperation for domestic and international investors. Among the investment deals, seven development partners are committed to providing a total capital of more than US$1.7 billion in 45 projects. The partners included the Asian Development Bank (ADB), the French Development Agency (AFD), the International Fund for Agricultural … [Read more...] about $8 billion to be pumped into Vietnam’s Central Coast

At the reception for Tatsuo Yasunaga, President and CEO of Mitsui & Co Ltd., the Government leader praised the company’s business performance in Vietnam, particularly in processing and distributing of local aquatic products. PM Phuc welcomed a joint project between Mitsui and Minh Phu Seafood Corporation which could push the shrimp export value of the major shrimp farming business in Vietnam to 1 billion USD. Yasunaga informed his host of the success of the joint project, which has seen over 150 million USD invested in improving Minh Phu’s processing, business management and export capacity, adding the sides plan to focus on upgrading refrigeration equipment and expanding export markets, particularly targeting Russia apart from the US. In another meeting with Han Chang-woo, chairman and CEO of Maruhan Corporation, PM Phuc said Vietnam is pressing ahead with effective equitisation of Stated-owned enterprises (SOEs), particularly in transport, infrastructure, construction, … [Read more...] about PM meets with leaders of Japanese conglomerates

Young people depart for military service in Hanoi. (Photo: VNA) Hanoi (VNA) - Ceremonies to see young people off for military service were held in 30 towns and districts of Hanoi on February 6. Secretary of the municipal Party Committee Dinh Tien Dung expressed his wish that the fresh recruits will become outstanding officers and soldiers, and his belief that each of them will strive in training. Vu Anh Dung from Giang Vo ward said he is proud to join the military, and promised to well perform in the military. Present at a ceremony in Dong Anh district, Chairman of the municipal People’s Committee Tran Sy Thanh affirmed that fulfilling military duty is both the responsibility and the pride of youngsters. Standing Deputy Secretary of the municipal Party Committee Nguyen Thi Tuyen also attended a ceremony in Bac Tu Liem district. At a ceremony in Hai Phong (Photo: VNA) Similar ceremonies were organised in the nine cities and provinces of the Military Region 3, … [Read more...] about New recruits sent off in ceremonies for military service

Thailand allows digital IDs for boarding domestic flights (Photo: VNA) Bangkok (VNA) - The Thai government has approved the use of digital IDs to verify passengers’ identities when boarding domestic flights. According to Deputy Government Spokesperson Traisulee Traisaranakul, the Civil Aviation Authority of Thailand (CAAT) has given the go-ahead for the use of digital ID following the rollout of the D.DOPA mobile application. digital ID. It can be used on both the iOS and Android platforms. Traisulee said passengers must present a digital ID from a recognised mobile application developed by a state agency, such as D.DOPA or the DLT QR Licence developed by the Department of Land Transport. Screenshots and photos of physical ID cards are not allowed due to the high risk of fabrication. Several other state agencies including the Revenue Department are now linked with D.DOPA for e-filing of personal income tax. To register a digital ID, people must scan a QR code … [Read more...] about Thailand allows digital IDs for boarding domestic flights

On February 6, Ba Dinh district, Hanoi held a ceremony to hand over recruits to military units in 2023. Secretary of the Hanoi Party Committee Dinh Tien Dung attended the event and encouraged youths of Ba Dinh district to join the military. * Chief of the General Staff of the Vietnam People’s Army (VPA) and Deputy Defense Minister Senior Lieutenant General Nguyen Tan Cuong also joined an enlistment festival in Ha Long city, Quang Ninh province. The quality of young people enlisted in the military this year in the province was reportedly higher than last year in terms of physical health, education level, and political stance. * In the same day, all localities in Hung Yen province held similar ceremonies to hand over recruits to military units. Deputy Defense Minister Senior Lieutenant General Hoang Xuan Chien attended the ceremony held in the province’s Yen My district. In 2023, Hung Yen province has a target to recruit more than 1,800 youths to military units such as Army Corps … [Read more...] about Youths in the whole country start military service in 2023

Illustrative image (Source: VNA) Hanoi (VNA) – Right from the beginning of 2023, many banks have announced their plans for merge and acquisition (M&A) deals and capital increase. Last week, the Board of Directors of the Vietnam National Petroleum Group (Petrolimex) approved a plan to divest capital from PG Bank, which means the bank will have a chance to seek a new strategic shareholder to increase its capital after 12 years. Earlier in January, the Sumitomo Mitsui Banking Corporation (SMBC) was likely to complete capital divestment from Eximbank. Meanwhile, VPBank is working to sell 15% of its stake to a foreign partner. Once the deal finishes, it will be one of the banks with largest equity in the system. In a directive issued earlier this year, the State Bank of Vietnam (SBV) no longer banned banks from paying cash dividends. Accordingly, this year, many banks are preparing to pay cash dividends such as VPBank, TPBank, VIB and ACB. In its Directive 01/CT-NHNN, the … [Read more...] about Bustling M&A deals in banking industry at year beginning

The conference featured Prime Minister Pham Minh Chinh, and top government officials, including minister of Planning and Investment Nguyen Chi Dung and minister of Industry and Trade Nguyen Hong Dien. The 2.2GW Son My 2 CCGT power plant will be located in Binh Thuan province. The $1.8 billion plant will have a 20-year contract with the Vietnamese government. Speaking at the conference, Joseph Uddo, president of AES Vietnam said, “The investment policy for Son My 2 CCGT power plant marks a significant milestone enabling us to move ahead with the project. “We are honoured to receive the approval in this significant event today on the action plan to implement Resolution No. 26-NQ/TW of the Politburo, recognising the importance of the power plant project in ensuring energy security, promoting international investment and the socioeconomic development of Vietnam.” Son My 2 complements AES’ investment plans in gas infrastructure in the country and the … [Read more...] about AES receives Investment Policy Decision for 2.2 GW Son My 2 CCGT plant in Vietnam

Greener trade and investment is crucial to tackling climate change in Asia and the Pacific and will require governments in the region to work together more closely, according to a new report by the Asian Development Bank (ADB). While trade and investment have fueled remarkable economic growth in Asia in recent decades, it has also led to large increases in carbon dioxide emissions in the region—which is more vulnerable to the effects of climate change than any other. Reversing this trend will require measures such as promoting trade in environmental goods and services, nurturing green businesses, developing carbon pricing mechanisms, and strengthening regional cooperation through trade and investment agreements, according to the Asian Economic Integration Report (AEIR) 2023, released by ADB today. “Asia and the Pacific’s remarkable growth has lifted millions of people out of poverty, but this has come at an environmental cost,” said ADB Chief Economist Albert Park. “The region now … [Read more...] about Sustainable trade and investment key to Asia and Pacific’s green future

Saltwater intrusion has begun to increase in the Cửu Long (Mekong) Delta’s rivers, affecting irrigation of crops. The Cái Lớn-Cái Bé irrigation system in Kiên Giang Province is the largest of its kind in the country. A salinity rate of four grammes per litre was seen 45-70km upstream in major rivers this week, according to the Department of Water Resources. In the Vàm Cỏ Đông and Vàm Cỏ Tây rivers, saltwater has reached 65-70km deep, 5-7km more than at this time last year, it said. Most plants can only tolerate a rate of 1 gramme per litre. But water is adequate for the ongoing winter-spring rice crop, the department added. The delta, the country’s largest rice, fruit and seafood producer, has 1.5 million hectares under the crop. The saltwater intrusion from the sea occurs annually during the dry season between December and April. To cope with it, the delta’s 12 provinces and Cần Thơ City take various measures such as restructuring agriculture, … [Read more...] about Saltwater intrusion worsens in Mekong Delta

JAKARTA -- Indonesia will suspend some palm oil export permits to secure domestic supply amid rising cooking oil prices ahead of upcoming Islamic festivals, senior cabinet minister Luhut Pandjaitan said on his official Instagram account on Monday. Palm oil exporters had accumulated large shipment quotas last year and they now had little incentive to supply the domestic market, he said. Indonesia issues export permits for palm oil companies that have already sold a proportion of their products to the domestic market, under a policy known as "Domestic Market Obligation" (DMO). The DMO currently allows export volumes that are six times what companies have sold at home. "Exporters can use those export rights after the situation has calmed," said Luhut, Coordinating Minister for Maritime Affairs and Investment. Firman Hidayat, an official at the same ministry, said about a third of existing export quotas could be used now, while the rest could be used after May 1. He added … [Read more...] about Indonesia to suspend some palm oil export permits: officials