How to calculate trend rate of growth

Bac Lieu wind power plant assessed to contribute importantly to reducing impacts of climate change. (Photo: VNA) Hanoi (VNA) - The Ministry of Industry and Trade recently issued the sector’s action plan on climate change response and green growth to 2030, with a vision to 2050. Accordingly, the ministry considers climate change response an important and long-term task, and the achievement of the net zero emissions an opportunity to develop towards a low-carbon direction in accordance with national conditions and international trends. Measures to respond to climate change will be included in strategies for the development of the industry and trade sector. Illustrative image (Photo: VNA) This move aims to ensure the flexible adaptation to short-, medium- and long-term impacts of climate change, as well as the sector’s stable development and growth. These actions will also minimise losses caused by natural disasters, and consequences of extreme weather and … [Read more...] about MoIT acts in response to climate change

It will not be easy to keep inflation at 4.5% this year as targeted, economic expert Nguyen Bich Lam, former General Director of the General Statistics Office (GSO), has said. Inflationary pressure for Vietnam's economy in 2023 is "huge" and comes from many factors, he said in an interview with the Vietnam News Agency (VNA). People queue up at a petrol station in Hanoi. (Photo:VNA) The demand-pull and cost-push inflation will put pressure on the country's efforts to control inflation amid surging demand and strengthening of the US dollar which yields increased import prices. Demand for petrol and electricity – the two important commodities for production and consumption – will increase in 2023. The domestic electricity price has been kept unchanged for the past few years, while the price of coal and gas used in the production of electricity has increased, he said, noting that thermal and gas power account for a large proportion of the total generated electricity. … [Read more...] about Vietnam faces huge inflationary pressure in 2023: expert

The demand for Vietnam’s IP land rentals will sharply grow in 2023 thanks to policies promoting a return to investing in the Southeast Asian country. The industrial property segment is predicted to continue to be a bright spot in Vietnam’s real estate market in the coming years after reaching impressive growth in 2022, local insiders said. Benefiting from the ex isting land bank Many IP developers earn profit from developing IP projects. Photo: Cong Hung A recent report on the industrial real estate industry of VNDIRECT Securities predicted that by 2023, the net profit of listed IP developers is expected to grow by around 12% year-on-year. "We see more challenges for IP developers in the next two years due to the slow project approval process and limited funding sources. However, this is likely to turn into opportunities for developers that own ready-to-lease land banks, such as Becamex IDC Corporation (BCM)," the report noted. "We believe that … [Read more...] about Vietnam’s industrial property – promising segment in 2023

Illustrative image (Photo: VNA) Hanoi (VNA) – The Ministry of Construction will pay attention to urban planning and management in 2023 , according to Minister Nguyen Thanh Nghi . Specifically, the ministry will focus on improving the quality of planning to match the mindset, vision, and forecasting while ensuring feasibility. It is necessary to exercise strict control in the stages of planning appraisal and adjustment, as well as strengthen local inspection and guidance activities, and rectify local authorities’ capacities and conduct in planning issues. At the same time, legal regulations and management tools will continue to be perfected to strictly control the process of synchronous urban development – one that goes in tandem with industrialisation, modernisation, rural development, enhancing the competitiveness of urban areas, effectively using resources, especially resources from land, from urban space development, stated Nghi. According to the minister, in … [Read more...] about Urban planning, management – a focus in 2023: construction minister

Being the heart of Vietnam, Hanoi has been promoting solid waste management while raising public awareness of environmental protection, helping the country reach the target of processing 96% of urban household waste in 2023. Hanoi has taken drastic measures to boost the management of solid waste, which has not met the requirements of environmental protection, according to Deputy Director of the municipal Department of Natural Resources and Environment (DONRE) Mai Trong Thai. Accordingly, the DONRE has issued a plan and taken action to strengthen the state management of solid waste in the capital city and raise the people’s awareness of the issue. Previously, solid waste management in Hanoi was handled by the Department of Construction and DONRE, resulting in overlapping functions. Therefore, the DONRE has assumed primary responsibility for solid waste management in the capital from January 1, 2023. He stressed that the DONRE undertook early in resolving the difficulties that … [Read more...] about Hanoi takes drastic action to handle solid waste

In their urgent petition to the Government Office on Friday, the 250, who run nearly 9,000 gas stations across the country, said existing regulations have caused them heavy losses and they are financially exhausted. The petition also calls for amending the formula for calculating the base price of fuels and commissions to ensure fairness and stop retailers from having to sell at a loss or close down and attract sanctions from authorities. " Permitting retailers to buy fuels from only one source will eventually destroy competition in the petroleum businesses," Le Van Bau, director of Le Hong Thu Company, said. Huynh Tran Thanh Phong, director of Huy Phi Long Company, said since September 2021 his company has suffered losses of VND500 million (nearly US$21,200) because of low commissions. It gets VND100-200 ($0.4-0.8 cents) per liter of gasoline but costs are high, he said. "If this situation continues, our company will have to shut down," he said in the petition. Hundreds of … [Read more...] about Gasoline retailers want wholesalers’ monopoly scrapped

Vietnam promotes its tourism at TRAVEX trade fair in Indonesia (Photo: VNA) Jakarta (VNA) - Vietnam lauded its bountiful tourism options at the Travel Exchange (TRAVEX) trade fair, part of the ASEAN Tourism Forum (ATF) 2023 in Yogyakarta, Indonesia, from February 2-5. With a 54-sq.m pavilion, themed “ Vietnam-Timeless charm ” and “Live fully in Vietnam”, the country aims to lure visitors, while helping travel firms resume connectivity with their partners after the COVID-19 pandemic. It also spotlights the 2023 national tourism year to be hosted by the south-central province of Binh Thuan, home to the beach resort town of Mui Ne. TRAVEX is one of the most important activities within ATF 2023, attracting the attention of international partners, businesses and tourists. As the biggest annual tourism event in the ASEAN region, the ATF is attended by top industry policy makers, practitioners and suppliers of ASEAN-based tourism products and services. Hanan … [Read more...] about Vietnam promotes tourism options at top trade fair in Indonesia