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Over the past 35 years of development, the Vietnam Bank for Agriculture and Rural Development, better known as Agribank, always proves its position and role as a leading commercial bank in Vietnam. It has pioneered monetary policies, contributing to stabilizing the macro-economy, curbing inflation and supporting the country’s economic growth. The bank has cemented its key role in developing the agriculture sector and rural areas and offering credit and services to serve the country’s socio-economic development. Agribank was proud to receive the Vietnam National Brand award for the third consecutive year in 2022 and was among the top 10 Vietnamese strong banking and financial brands the same year. The lender has obtained impressive achievements in digital and green transformation and made substantial contributions to community development. Despite the negative impact of the COVID-19 pandemic, Agribank, with its initiative and flexibility, has employed multiple … [Read more...] about Vietnam’s Agribank wins many local prestigious prizes

Last week the IPN5 facility was put into operation in the northern province of Hung Yen, with the total investment of $101 million and covering 192 hectares in the two districts of An Thi and Kim Dong. Tran Quoc Van, Chairman of Hung Yen People’s Committee, said, “This is a major provincial initiative that was executed swiftly, with the site cleared in just 15 months.” Capital flow is reaching industrial park development, but the balance is not uniform across regions, photo Le Toan The Hung Yen authorities anticipate that industrial park (IP) infrastructure like IPN5 will transform the land into a significant source of local income. Over a decade ago, the Red River Delta region specialised in wet rice cultivation. Now, however, it is attempting to increase investment and industrial growth. Although Hung Yen is merely 930 square kilometres, 16 IPs have already been planned. In the first two months of this year, the industrial property segment has witnessed dynamic … [Read more...] about Localities crack on with IP construction

As part of the draft national Power Development Plan VIII (PDP8), Vietnam plans to generate 7GW offshore wind capacity by 2030, but the lack of an official strategy is hindering progress. At a conference organised by the Central Economic Committee last week, Mark Hutchinson, chairman of the Southeast Asia Task Force, said, “7GW of offshore wind is crucial for Vietnam for its net-zero goal and for the country’s long-term energy security. Our message has been the same for years – a clearly defined route to the market is needed.” He said that offshore wind deployment was in its early stages and the deployment of the country’s 4GW of offshore wind was not driven by a direct auction mechanism but instead arranged at a time when clear policy measures were not in place. Thus, he called for accelerating a large-scale pilot or mechanism that covers a certain volume of the target, to bypass obstacles and fast track wind power. “There are now two main options: an accelerating mechanism such … [Read more...] about No time to waste in building the offshore wind industry

Minister of Transport Nguyen Van Thang (right) presents the insignia “For the development of Vietnam's transport sector” to Shimizu Akira, Chief Representative of the Japan International Cooperation Agency ( JICA ) Vietnam Office (Photo: baogiaothong.vn) Hanoi (VNA) - Shimizu Akira, Chief Representative of the Japan International Cooperation Agency (JICA) Vietnam Office, was honoured with the insignia “For the development of Vietnam's transport sector” by the Ministry of Transport (MoT) on March 23. Addressing the event, Minister of Transport Nguyen Van Thang thanked Japan for its support for transport infrastructure development in Vietnam. Official development assistance (ODA) projects funded by the Government of Japan through JICA are all large and important, making significant contributions to the country’s socio-economic development and changes in its transport infrastructure, he said. The minister also thanked and acknowledged the efforts of Akira, who … [Read more...] about JICA Chief Representative honoured with insignia

The second annual report on foreign investment in Vietnam for 2022 released earlier in March by the Vietnam’s Association of Foreign Invested Enterprises noted that the United States has decreased corporate income tax from 25 to 21 per cent, while also reforming investment licensing procedures. In addition, the US government is applying higher taxes on imported products to increase the competitiveness of several industrial sectors, such as energy, automobiles, steel, and aluminium. Vietnam may need to come up with new tactics to retain foreign investors, photo Le Toan Besides that, the US is also promoting a “prosperous economic network” that connects allied countries to build supply chains of products such as semiconductors and 5G-related technology. In Europe, some countries such as Germany and Italy have also unveiled policies to limit investment in overseas markets, while France is encouraging its enterprises to expand their operation in high-value sectors, such as … [Read more...] about Gains feasible through large-scale FDI

The number of Cambodian travelers entering Vietnam is on the high rise, with the primary purpose of these visits quickly shifting from medical tourism to vacation tourism. Vietnam currently welcomes over one million Cambodian tourists each year – a figure which has surged since the end of the COVID-19 pandemic. Still, many local travel firms claim the number of Vietnamese companies offering tourism geared toward Cambodian tourists remains limited. Extended stays According to Pham Ngoc Ha, deputy general director of Saco Travel Company, her firm has been facilitating travel for scores of weekend travelers from the Cambodian provinces which border Tay Ninh Province in southern Vietnam. Popular tourism attractions for these visitors were local pagodas and Ba Den Mountain in Tay Ninh. Prior to the COVID-19 pandemic, many of these tours lasted just one day. Now more and more Cambodian tourists are opting for four-day, three-night tours to Ho Chi Minh City and other major … [Read more...] about Vietnam a major destination for Cambodian tourists

Hanoi has logged 548 new cases of chickenpox so far this year, with the most recent 70 infections recorded just this week, according to statistics from the Hanoi Center for Disease Control (CDC). There have been no deaths linked to the ongoing outbreak. Chickenpox is on the rise compared to last year, and many of the patients are preschool and elementary school students, which respectively account for 36.5 percent and 38 percent of the total infections. So far, 18 out of Hanoi’s 30 districts have been affected by the outbreak, with Chuong My, Me Linh, Ba Vi, and Nam Tu Liem Districts having each detected over 30 cases. In the outlying district of Chuong My, the local medical center had reported five clusters of 237 chickenpox cases as of March 21. In Ho Chi Minh City, children's hospitals citywide said that they have recorded normal rates of hospital admissions and treatment linked to chickenpox. However, as chickenpox cases tend to surge between February and June, parents … [Read more...] about Chickenpox outbreak spreads in Hanoi

The energy transition in Vietnam is tied to the rapid growth of the economy, urbanisation, and industrialisation. We have seen the strong aspiration of the government to speed up the energy transition while meeting the requirements of economic development and the goal of becoming a high-income country by 2045. Energy transition is more seen as a potential engine for employment, and this trend will likely grow, helping to build support for renewables. John Rockhold, head of the Power and Energy Working Group under the Vietnam Business Forum Fossil energy sources are gradually being replaced by green and clean energy sources, reducing greenhouse gas emissions and combating climate change, while Vietnam is one of the first countries to renew its nationally determined contribution to the United Nations Framework Convention on Climate Change in 2020. The roadmap for the country’s transition process towards green and sustainable development will not only need to ensure … [Read more...] about Displaying readiness for the energy transition in Vietnam

A community-based tourism and cultural village in Ha Giang's Meo Vac district. (Photo: VNA) Ha Giang (VNA) – With its advantages in terms of natural landscapes, rich cultural identities, customs and preserved traditional festivals, the northernmost province of Ha Giang has attracted attention from a large number of travel companies and tourists, and several potential community-based tourist sites have been formed. Ha Giang province is home to 19 ethnic groups which have their own cultural traditions and identities. The effective preservation and promotion of cultural values has helped the province in general and the ethnic groups in particular have a special attraction for travelers and those who want to learn about traditional ethnic culture. According to Deputy Director of the provincial Department of Culture, Sports and Tourism Trieu Thi Tinh, over the past years, the province has selected outstanding cultural products to develop to create more highlights for … [Read more...] about Ha Giang effectively develops community-based tourism

The sons of Hanoi held their heads high and persevered in the cause of national liberation in the face of brutality and harassment. The lethal and brutal treatment and torture in Phu Quoc jail could not weaken the determination of the sons of Hanoi to survive and fight for the freedom and independence of their homeland. Former Hanoi imprisoned veterans attend a ceremony on March 22 that honors their sacrifices for national unity and liberation. Photo: Thanh Hai/The Hanoi Times Phu Quoc Prison was built in 1949-1950 under French colonial rule to detain political dissidents and national patriots. From 1963 to 1973, more than 40,000 Vietnamese patriots, soldiers, and communist activists who fought for the liberation of their country were incarcerated in the prison, which was run by the South Vietnamese regime. Located some 90 kilometers from the Vietnamese mainland, Phu Quoc prison was the site of the deaths of some 4,000 people who gave their lives in the … [Read more...] about Hanoi patriots recount memories of captivity