Intertwined world economy

A street in Bangkok capital of Thailand. (Photo: AP) Bangkok (VNA) - Election campaigns are forecast to generate up to 120 billion THB (3.5 billion USD) for the economy of Thailand, said the Centre for Economic and Business Forecasting at the University of the Thai Chamber of Commerce . The centre’s director Thanawat Polvichai said political parties are going into full gear with campaigning for votes after the election date was set for May 14 by the Election Commission. The 120 billion THB generated while campaigning will push Thailand ’s GDP up by 4% in the second quarter, he said, adding that the Thai economy is expected to grow by 3-4% this year. However, rising production costs and inflation can affect the business sector’s profits and liquidity though the economy is believed to pick up in the second half of this year, according to Thanawat./. VNA … [Read more...] about Election campaigns may create 3.5 billion USD for Thai economy

Illustrative photo. (Photo: AFP/VNA) mô tả cho ảnh Jakarta (VNA) – ASEAN has sufficient resources to become a centre of world economic growth with a GDP reaching USD 3.36 trillion in 2021 and a population of 650 million people, Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto said on March 15. ASEAN chair this year set 16 Priority Economic Deliverables (PED) which are divided into three strategic drives including recovery-rebuilding, digital economy, and sustainability. Indonesia also aims to promote sustainable regional development through the ASEAN - Indo-Pacific Forum (AIPF) in which, the public and private sectors will be invited to participate in projects in the region to support green infrastructure, strengthened supply chains, digital transformation, and creative economy, as well as innovative and sustainable finance./. VNA … [Read more...] about Indonesia drives ASEAN to become centre of world economic growth

At the 2019 Muslim Fashion Festival (Photo: xinhuanet.com) Jakarta (VNA) – Indonesia , the second largest Muslim fashion producers in the world after the United Arab Emirates, is targeting to emerge as the world’s leading Muslim fashion mecca by 2020. Indonesian Industry Minister Airlangga Hartarto said at the opening of the 2019 Muslim Fashion Festival that the market for Muslim wear is big, both outside and inside the country, and it needs to be dominated by the Indonesian Muslim fashion industry. He said that the increasing number of Muslims in the world has become one of the main triggers that have driven the growth of the Muslim fashion industry. Last year, the total population of Muslims reached 24 percent of the total global population. The sale of Muslim clothing in Indonesia is at 20 billion USD with a growth rate of 18.2 percent per year. Meanwhile, the State of Global Islamic Economy Report 2018/2019 shows that the fashion consumption among Muslims … [Read more...] about Indonesia targets to become world’s Muslim fashion centre by 2020

Nordic countries, including Denmark, Finland, Norway, and Sweden, shared their experience in green solutions to a circular economy and waste management and policy implications for Vietnam at a seminar held in Ho Chi Minh City on Wednesday. The seminar was organized by the Embassies in Vietnam of Denmark, Finland, Norway, and Sweden and Fulbright University Vietnam to mark the occasion of Nordic Day 2023 (March 23). In his opening remarks at the seminar, Ambassador of Denmark to Vietnam Nicolai Prytz said with a long tradition of working together to find solutions to common challenges, the Nordic countries are proud to share their experience and knowledge with Vietnam. “We believe that sharing experience and best practices with our partners is essential to promoting sustainable development,” Prytz added. Meanwhile, Ambassador of Norway to Vietnam Hilde Solbakken highlighted the role of the private sector in promoting green innovation, saying, "In the Nordic region, we have seen … [Read more...] about Nordic countries share circular economy, waste management solutions with Vienam

An overview of the scientific seminar (Photo: VNA) Hanoi (VNA) – A scientific seminar titled “ Green solutions for circular economy and waste management : Nordic experiences and policy implications for Vietnam” was held in Hanoi on March 23. This is an annual event jointly organised by the Ho Chi Minh National Academy of Politics and the embassies of four Nordic countries of Denmark, Finland, Norway and Sweden since 2018. Vice President of the academy Assoc. Prof., Dr. Duong Trung Y said that the seminar focused on how the Nordic region makes strong commitments to the environment and circularity, and is leading the world in green innovation. He emphasised the importance of efforts and the need for international cooperation in achieving the Sustainable Development Goals. As Vietnam commits to transitioning to a greener and low-carbon economy after the COVID-19 pandemic, this is really the right time to mainstream the circular economy to effectively manage … [Read more...] about Nordic countries share green solutions for circular economy with Vietnam

Participants at the talks (Photo: VNA) Seoul (VNA) – Economic cooperation should continue to be the focus of bilateral ties between Vietnam and the Republic of Korea, National Assembly (NA) Vice Chairman Nguyen Duc Hai said at his talks with Deputy Assembly Speaker of the RoK Chung Woo-taik in Seoul on March 20. Hai, who is making an official visit to the RoK, noted that the political trust between the two countries has been continuously strengthened, and they have maintained a regular exchange of delegations at all levels. The most recent visit to Vietnam by Speaker of the National Assembly (NA) of the RoK Kim Jin-pyo in January opened practical and effective activities between the two nations in 2023, he stressed. The NA Vice Chairman said the two sides need to work closely to effectively implement the Vietnam - Korea Free Trade Agreement (VKFTA) and the Regional Comprehensive Economic Partnership (RCEP) agreement. The goal is to lift two-way trade to 100 … [Read more...] about Vietnam-RoK cooperation should continue to focus on economy: NA official

Vietnam ranks 65th out of 137 countries and territories in the 2020-2022 period as per the World Happiness Report 2023. (Photo: VGP) Hanoi (VNA) - Vietnam ranks 65th out of 137 countries and territories in the 2020-2022 period as per the World Happiness Report 2023, up 12 places from the 2022 Report. The report was released on March 20, which the United Nations has designated as the International Day of Happiness since 2013. Country rankings this year are based on life evaluations in 2020, 2021, and 2022, so all of the observations are drawn from years of high infection and deaths from COVID-19 . Finland extends its run as the happiest country in the world for the sixth consecutive year this time, followed by frequent high performers like Denmark, Iceland, Israel, Netherlands, Sweden, Norway, Switzerland, Luxemburg, and New Zealand in the top 10. At the other end of the table, Afghanistan ranks the lowest in the world, followed by Lebanon, Sierra Leone, Zimbabwe … [Read more...] about Vietnam ranks 65th in world happiness report

The event will focus on Industry 4.0, digital transformation, and engineering asset management. — Photo Freepik The 17th World Congress on Engineering Asset Management will take place in HCM City, from October 18-20, 2023. Themed “Industry 4.0, Digital Transformation, Society 5.0 and beyond”, the event is hosted and organised by the International Society of Engineering Asset Management (ISEAM), RMIT Vietnam and the Asset Institute. The World Congress on Engineering Asset Management (WCEAM) will bring together academic, policy and industry expertise from diverse economies, geographies, public and private industry sectors to proffer discourse on how to exploit 4IR technologies to sustainably manage engineered assets in a manner consistent with Society 5.0 ideals. The activities, annual meetings, and events of WCEAM provide opportunities for educators, policymakers, practitioners, researchers, and trainers to engage in intellectual discourse on the development and advancement of … [Read more...] about Viet Nam to host 17th World Congress on Engineering Asset Management

Nguyen Duc Hai, who is making an official visit to the RoK, noted that the political trust between the two countries has been continuously strengthened, and they have maintained a regular exchange of delegations at all levels. The most recent visit to Vietnam by Speaker of the National Assembly (N.A.) of the RoK Kim Jin-pyo in January opened practical and effective activities between the two nations in 2023, he stressed. The N.A. Vice Chairman said the two sides need to work closely to effectively implement the Vietnam - Korea Free Trade Agreement (VKFTA) and the Regional Comprehensive Economic Partnership (RCEP) agreement. The goal is to lift two-way trade to 100 billion USD this year and 150 billion USD by 2030 in a sustainable and balanced direction. Vietnam welcomes Korean businesses to expand their investment in Vietnam, especially in priority fields such as high technology, innovation, green economy, digital transformation, clean energy, and development of smart and … [Read more...] about Vietnam-RoK cooperation should continue to focus on economy: N.A. official

Themed “Industry 4.0, Digital Transformation, Society 5.0 and beyond,” the event is hosted and organized by the International Society of Engineering Asset Management (ISEAM), RMIT Vietnam and the Asset Institute. The World Congress on Engineering Asset Management (WCEAM) will bring together academic, policy and industry expertise from diverse economies, geographies, public and private industry sectors to proffer discourse on how to exploit 4IR technologies to sustainably manage engineered assets in a manner consistent with Society 5.0 ideals. The activities, annual meetings, and events of WCEAM provide opportunities for educators, policymakers, practitioners, researchers, and trainers to engage in intellectual discourse on the development and advancement of the body of knowledge and practice of managing engineered assets. It is expected to welcome over 250 participants from all around the world to meet and share state-of-the-art knowledge in research and application of advanced … [Read more...] about Vietnam to host 17th World Congress on Engineering Asset Management