Korean investment in india

In January, an estimated 27 trillion VND from the State budget was disbursed, including 4.2 trillion VND managed by the State, or 3.1% of the annual plan and up 15.7% compared to the same period last year. The remainder was managed by local authorities, equivalent to 4.2% of the annual plan and marking a rise of 1.2% over the corresponding period of 2022. The total capital investment plan for 2022 from the state budget approved by the National Assembly was over 580 trillion VND, including more than 276 trillion VND from the State and the remaining from localities. By December 31 last year, the disbursement of the investment plan from the state budget was estimated at over 435.6 trillion VND, or 75.11% of the plan assigned by the Prime Minister, lower than the 77.3% recorded in the same period of 2021, yet the absolute figure of the disbursement in 2022 was more than 79 trillion VND higher than the same period of 2021, according to the Finance Ministry. Of the figure, over 424 … [Read more...] about Hanoi, Ho Chi Minh City record highest disbursement of public investment capital in January

By 2025, the Ministry of Information and Communications expected Vietnam to have 80,000 digital tech firms, meeting at least 50% of digital tech and services from state agencies. Vietnam aims for the digital technology industry to lead the implementation of Industry 4.0 in the country, with revenue growth 2.5 times higher than the overall GDP expansion rate. ICT to help Vietnam realize the digitalization process. File photo The target was revealed in the Ministry of Information and Communications (MIC)’s directive for information and communication technology (ICT) development in 2023 and the 2024-2025 period. "Digital technology focused on design, creation, and manufacturing in Vietnam is the main industrial sector driving the nation's industrialization and modernization, contributing to greater digitalization capability and shaping a digital country," the MIC stated. Under the plan, the ministry expected revenue from the ICT sector would hit US$165 … [Read more...] about Digital technology to spearhead Vietnam’s drive for Industry 4.0

Vietnam's real estate market continues to show strong appeal to foreign investors despite global economic difficulties. The foreign direct investment (FDI) into Vietnam’s real estate market in 2022 rose by over 70% yearly to US$4.45 billion, focusing on industrial and large-scale commercial projects, according to the Ministry of Construction (MoC). Real estate projects in Hanoi. File photo The MIC’s report suggested that real estate stands second among sectors with the highest FDI attraction in 2022, which showcases “the strong appeal of the market to foreign investors amid a difficult global economic environment.” Neil MacGregor, Managing Director of Savills Vietnam, echoed this view by saying foreign investors remain attracted to Vietnam, especially in production, retail, logistics, and real estate. He expected the attention from foreign investors would help the local real estate accelerate the recovery process this year. Regarding this sentiment, HSBC … [Read more...] about FDI to Vietnam’s real estate rises by over 70% in 2022

Nen spoke highly of the diplomat’s performance, which he said has greatly helped enhance the friendship, solidarity, and cooperation between the two countries, including between Ho Chi Minh City and Cambodian localities, the Sai Gon Giai phong daily reported. He said he believes in new positions, Sok Dareth will continue dedicating to bilateral connections. Authorities at all levels of Vietnam and Cambodia should act more effectively to implement the guidelines and policies issued by high-ranking leaders so as to lift the two countries’ relations to a new height, the host official noted, affirming that Ho Chi Minh City is ready to do its utmost to develop bilateral ties more strongly. For his part, Sok Dareth thanked the Vietnamese Party and State, as well as authorities and people of Ho Chi Minh City for their support to his office and himself to fulfill duties. He congratulated the Southern metropolis on its achievements and applauded the local administration’s provision of … [Read more...] about Ho Chi Minh City leader highly values contribution by Cambodian Consul General

The real estate sector was at second position in FDI attraction in Vietnam last year. (Photo: baodautu.vn) Hanoi (VNA) – Vietnam’s real estate sector last year attracted an additional 1.85 billion USD in foreign direct investment (FDI), retaining its second place among industries drawing FDI with combined investment of 4.45 billion USD, accounting for 16.1% of the total FDI poured into the country, according to the Ministry of Construction. real estate enterprises, helping to promote the sustainable growth of the market in the long term. Phu My Hung Urban Area in Ho Chi Minh City. (Photo: VNA) According to the General Statistics Office, from the beginning of this year to January 20, 2023, the total registered FDI capital in Vietnam reached 1.69 billion USD. VNA … [Read more...] about FDI hoped to help realty market develop sustainably in long term

The country is forecast to be the second-fastest growing economy in Asia-Pacific this year. Vietnam would continue to prioritize macroeconomic stability and containing inflation in anticipation of greater challenges from both domestic and international fronts in 2023. Prime Minister Pham Minh Chinh at the meeting. Photos: VGP Prime Minister Pham Minh Chinh gave the remarks during a monthly Government meeting today [February 2]. According to Chinh, Vietnam’s socioeconomic performance in January has been positive with strong results in all fields and sectors, especially in industries, agriculture, and tourism. The World Bank in its latest global economic outlook report forecast Vietnam’s GDP in 2023 at 6.3% year on year, down 0.2% from the previous assessment, but still the second highest in Asia-Pacific. In addition to economic development, the authorities have taken measures to ensure social welfare and provided financial support for 25 million eligible … [Read more...] about Vietnam prioritizes macroeconomic stability in 2023: PM

Chairing the government’s monthly teleconference with localities, PM Pham Minh Chinh said since the beginning of this year, the government has followed the Party Central Committee’s conclusions, the National Assembly and government’s resolutions and Party General Secretary Nguyen Phu Trong’s directions on 2023 socio-economic development. Ministries, agencies and localities have also drastically performed their assigned tasks. In January, macro-economic situation was basically stable. The consumer price index rose by 0.52% month-on-month and 4.89% year-on-year. As of January 17, credit growth hit 0.65% compared to the end of last year, meeting public demand before and during the lunar New Year (Tet). The State budget collection reached 11.3% of the estimate for the year, while newly-registered FDI tripled the figure in the corresponding period last year to 1.2 billion USD. The trade surplus was estimated at 3.6 billion USD. National defense - security was guaranteed while external … [Read more...] about Prime Minister chairs monthly teleconference with localities

The Lieu Quan Buddhist Cultural Center  in Hue City Hundreds of monks, nuns and Buddhists as well as pilgrims have travelled to the Dieu Quang Pagoda in the central province of Khanh Hoa 's Nha Trang City to view 38 Buddhist sarira on display. Said to be the crystallised remains from the cremated Buddha's physical body, Buddha sarina were placed in small glass-towers for worshipping. The artefacts are now in Phu Yen Province , and will be displayed in Ha Noi and HCM City before returning to India . The display is being held to celebrate the Lord Buddha's Birthday in the Year of the Buddhist Calendar 2550. Within the framework of the Buddhist Culture Week 2010 at the Lieu Quan Buddhism Culture Centre in the central city of Hue , the managing committee of Thua Thien-Hue Province Buddhist Church held a celebration to light seven of giant lotus-shaped lanterns anchored in the Huong River on Friday. … [Read more...] about Buddhist artifacts make nationwide tour

ChatGPT and AI is set to boom in Vietnam In the early days of 2023, ChatGPT released by OpenAI is becoming popular all over the world. ChatGPT is a chatbot providing solutions to complex problems directly like composing essays, coding, and drafting business proposals. Within a few seconds after entering keywords, ChatGPT will provide text, images, audio, and other entertainment media in excellent quality. Just a few weeks after launching, this “super AI” has reached over 10 million users and has rapid growth. This success helps OpenAI negotiate an investment agreement worth $30 billion, more than double its valuation in 2021. After investing $1 billion in ChatGPT in 2019, Microsoft is planning to invest another $10 billion in exchange for 49 per cent of OpenAI's stake. This tech giant is considering integrating ChatGPT into Word, Powerpoint, Outlook, and even the Bing search engine to compete for market share with Google Search. Eric Boyd, CVP of AI Platform at Microsoft, … [Read more...] about ChatGPT and AI booms in Vietnam

Authorities in the northern city of Haiphong today, February 2, started construction of the Lai Xuan Bridge crossing the Da Bach River that connects the city's Thuy Nguyen District with Dong Trieu Town in Quang Ninh Province. Construction of the Lai Xuan Bridge crossing the Da Bach River starts in Haiphong City on February 2 The 840-metre-long, 12-metre-wide bridge project will be carried out at the same time as the expansion of Provincial Road 352 to 12 metres in width and 14 kilometres in length. The two projects are estimated to cost over VND 1.32 trillion. The investment will be taken from the local government budgets with over VND1.32 trillion from Haiphong and over VND12 billion from Quang Ninh. A sketch of the bridge project The projects are expected to be completed by December 2024. Lai Xuan Bridge will replace the Lai Xuan ferry service, connecting national highways 18 and 10 in Haiphong and Quang Ninh. Meanwhile, … [Read more...] about Construction work starts on Haiphong – Quang Ninh bridge