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Illustrative image. (Photo: SGGP) The People's Committee of HCMC said that the disbursement rate of the Public Investment Plan in 2022 is not much compared to previous years due to many difficulties and obstacles, but mainly the impact of the Covid-19 pandemic in 2021. The restart of the construction of projects in the first months of 2022 experienced a certain delay after the time the city adopted measures to respond to the Covid-19 pandemic. In addition, input costs were unstable and tended to increase. Besides the above objective reasons, the People's Committee of HCMC also raised some other subjective reasons affecting the disbursement progress of public investment capital, for example, difficulties related to site clearance; it is necessary to have time to carry out the project adjustment procedures on the basis of Resolution No.99/NQ-HDND dated October 19, 2021, of the People's Council of HCMC and Decision No.4354/QD-UBND dated December 28, 2021, on the medium-term capital … [Read more...] about HCMC disburses only 17 percent of public investment capital in first six months

Ho Chi Minh City Urban Traffic Management and Operation Centre (Photo: VNA) Hanoi (VNA) - The Ministry of Information and Communications (MIC) will exert efforts to create a modern and safe national digital infrastructure , and a new space for digital economic growth, and developing e-government towards the building of a digital government. The goal is set in the ministry’s action plan for the implementation of the National Strategy on the fourth Industrial Revolution by 2030. Under the plan, by 2025, Vietnam's e-government index according to the United Nations' ranking will be in the group of four leading countries in Southeast Asia. Vietnam will rank among the top 40 countries in terms of the Global Cybersecurity Index of the International Telecommunication Union (ITU). The proportion of the digital economy will reach 20% of GDP, and the proportion of the digital economy in each industry or field will reach at least 10%. By the year, over 50% of the population … [Read more...] about Ministry works to create modern national digital infrastructure

Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Vietnam reached more than 14 billion USD in foreign direct investment ( FDI ) in the first six months of 2022, announced the Ministry of Planning and Investment (MPI). The ministry’s data showed that as of June 20, 2022, the total newly registered capital, adjusted and contributed capital to buy shares, buy contributed capital of foreign investors reached 14.03 billion USD, as much as 91.1% over the same period in 2021. Of which, 752 new projects were granted investment registration certificates, down 6.5% compared to the same period, with a total registered capital of over 4.94 billion USD, down 48.2% over the same period. In addition, there were 487 projects registering to adjust their investment capital, up 5.9% over the same period, with the total additional registered capital reaching nearly 6.82 billion USD, up 65.6% compared to the same period last year. There were also 1,707 capital contributions and share … [Read more...] about Vietnam attracts more than 14 billion USD of FDI in H1

Entrepreneurs remain inspirations for Vietnamese youth According to the report, over 23 million (25 per cent) of the population are youth aged 16 to 30. Of them, 43 per cent want to become entrepreneurs, followed by working in the media and communications (37 per cent), education (22 per cent), technology (20 per cent), NGO and government (17 per cent), and financial sectors (11 per cent). Only a small proportion of the respondents seek careers in transportation (8 per cent) and energy (5 per cent). It is worth noting that while there is an increasing demand for digital skills in the country, these were the least cited among the skills that need development. Instead, around half of the young people surveyed would like to further gain self-leadership (53 per cent) and interpersonal skills (48 per cent). This is followed by reskilling in cognitive and advanced digital skills (37 per cent) and basic digital skills (28 per cent). Vietnam is also undergoing a shift from a … [Read more...] about Entrepreneurs remain inspirations for Vietnamese youth

Tôn Thanh Trà, General Director of Chợ Rẫy-Phnom Penh Hospital, gives a health check-up to a patient at the hospital in Phnom Penh, Cambodia. — VNA/VNS Photo HÀ NỘI — One evening, doctors at Chợ Rẫy-Phnom Penh Hospital received a red alarm from the Emergency Department. A female patient had arrived in the emergency room in a state of confusion. She had trouble speaking and paralysis on the right side of the body. After examination and the necessary tests, doctors diagnosed the patient as suffering a stroke caused by atrial fibrillation and tachy-brady syndrome. After consultation, it was decided the patient needed a permanent pacemaker. The surgery was performed that night. It was incredibly successful. The patient was in stable health condition and discharged from the hospital four days later, to the joy of family and relatives. This was one of the thousands of timely life-saving cases that Vietnamese doctors successfully performed at the Chợ Rẫy- Phnom Penh Hospital in … [Read more...] about Vietnamese doctors gain Cambodian people’s trust

Jesse Choi, CEO of Sunwah Innovations and director of Sunwah Vietnam talked about Vietnam's market entry opportunities and strategy The webinar received around 100 participants including experts and representatives of corporates, startups, universities, incubators and accelerators, venture capital firms, and business associations from Vietnam and neighbouring countries and territories including Cambodia, Singapore, Japan, South Korea, China, and Hong Kong. Vietnam has seen significant improvements in developing a dynamic and open business environment. In the post-pandemic period, the country stands firm as one of the most attractive destinations in the Southeast Asian region for foreign investors and businesses including venture capital firms and startups. Realising an increasing need from overseas startups and supporting organisations to explore and gain footholds in the market, Sunwah Innovations organised the Vietnam Market Entry Opportunities and Strategy webinar. It was … [Read more...] about International webinar on Vietnam’s Market Entry Opportunities and Strategy

According to OnPoint’s statement, SeaTown's expected total investment of up to $50 million will be the largest private investment in the Southeast Asian e-commerce enabler industry in the last five years. It will support OnPoint in further investing in its best-in-class omnichannel marketing and sales solutions to better serve brands and consumers. In addition, the company said, the partnership would allow the company to tap into SeaTown's vast networks and experience in the digital economy and consumer sectors across Southeast Asia and globally. Most recently, SeaTown made investments in the CrownX Corporation and Golden Gate Group in Vietnam. Dickson Loo, managing director at SeaTown said, "In one of the fastest-growing e-commerce markets globally, OnPoint has proven to be the best-in-class e-commerce enabler supporting a large portfolio of local and international brands. We strongly believe that, with its unparalleled experience and capabilities, OnPoint is well-positioned … [Read more...] about Vietnam’s OnPoint bags $50 million in Series B from SeaTown

Inside a wood production line of Truong Thanh Furniture Corporation. — Photo truongthanh.com As wood export turnover is rebounding with rising demand in the domestic market, the revenues of wood enterprises are expected to advance. However, skyrocketing prices of raw materials and logistics costs will weigh on these companies’ gross profit margin in 2022. VNDIRECT Securities Corporation (VNDIRECT) estimated that the total revenue of listed wood and wood products companies in the first quarter (Q1) of 2022 rose by 10.2 per cent year-on-year thanks to the recovery of wood producers in the south. After the social distancing order was lifted, most wood companies in the southern region resumed operations at 90 per cent capacity in the first quarter of 2022, while in the second half of 2021 it was only 60-65 per cent. The export wood enterprises achieved better business results in Q1 of 2022. Specifically, Truong Thanh Furniture Corporation (HoSE: TTF) and Phu Tai JSC (HoSE: PTB) … [Read more...] about Rising costs cast doubt on wood companies growth prospects

View of the Dong Van II Industrial Park in the southern province of Ha Nam. — VNA/VNS Photo Danh Lam The Ministry of Planning and Investment (MPI) has called for the implementation of an industrial environmental index in Viet Nam, according to Le Thanh Quan, head of MPI's department of economic zone management. Quan said the establishment of environmental standards in more than 400 industrial parks and 18 economic zones across the country was to play a significant role in resolving environmental issues, reducing waste and achieving sustainable development. The MPI had been gathering data and feedback in preparation to set up Viet Nam's industrial environmental standards. He said it was in line with the global trend to promote sustainable industrial development among developed countries including Japan, South Korea and Switzerland. The implementation of the index was also part of a national development strategy on green growth for the 2021-30 period with a vision to 2050, as well … [Read more...] about VN to establish industrial environmental index

Rapid economic development often results in serious impacts on forests, evidenced by the alarming deforestation in Phu Quoc City in the Mekong Delta province of Kien Giang having plunged the city’s forests into a state of emergency. Forests are regarded as the living soul of residents on the 'pearl island.' However, the woods full of stone stakes and steel wires are disappointing tourists. The situation is becoming truly alarming. Forests seem empty after one unguarded night Deforestation and land encroachment in Phu Quoc City in mid-June 2022 were no longer overt and rampant, but it did not mean that forests stopped 'bleeding.' On the main path from Ham Ninh Commune to Thom Beach, people could easily see excavated mountainsides and forest land areas occupied with concrete stakes, zinc-coated barbed wire fences, and even well-built constructions. “Some gangs secretly encroached and built fences," complained N.X.T., a forest ranger. “During the forest land invasion … [Read more...] about Phu Quoc forests in state of emergency