Local 9 ftq construction

A view of Nam Cau Kien Eco-Industrial Park in Hai Phong. — VNA/VNS Photo Tran Viet The development of eco-industrial parks is considered an effective solution to contribute to completing the net zero emission target by 2050 in Viet Nam. However, there are still many problems with the mechanism. In a report on the development of industrial parks and economic zones conducted by the Ministry of Planning and Investment, by 2030, 40-50 per cent of localities will have plans to convert existing industrial parks to eco-industrial parks, and 8-10 per cent of localities have orientations to build new ecological industrial parks. This will contribute to the concretisation of the net zero commitment by 2050. However, many experts and businesses believe that it is necessary to have the determination of the businesses to achieve this goal, along with preferential policies and mechanisms. Now, Viet Nam has more than 400 industrial parks, but few of those industrial parks have strategies to … [Read more...] about Eco-industrial park development targets net zero emissions

The investor of a tourism project in the northern province of Hoa Binh has just been fined for carrying out vast site clearance at a local forest despite having not received a licence from local authorities. A tourism project in the northern province of Hoa Binh has carried out vast site clearance at a local forest despite having not received a licence from local authorities. Between April-September 2022, Legacy Riverside Company was approved by local authorities to conduct a geological survey for their Dong Truong Son Ecological Resort which was planned to cover 98 hectares in Luong Son District. However, the company sent lots of machinery to the site and destroyed a large area of forest. According to residents in Tan Vinh Commune, the Legacy Riverside Company started site clearance work in the local forest in 2022 and more forest area had been destroyed in early 2023 but local authorities took no action. It was not until April 2023 that Tan Vinh Commune … [Read more...] about Hoa Binh tourism investor fined for unlicensed project

The most effective competitive advantage for Vietnam's economy is creating a favorable business investment environment free of legal barriers. Prime Minister Pham Minh Chinh has signed a decree to urge ministries and provinces/cities to boost administrative reforms and improve the investment environment to support local enterprises. Electronics production at Katolec Vietnam in Quang Minh Industrial Park, Hanoi. Photo: Pham Hung/The Hanoi Times "A conducive investment environment is a fundamental platform helping businesses operate smoothly and drive growth. This, in turn, promotes job creation and contributes to overall socio-economic development," said the decree. Vietnam has been trying to cut administrative regulations and compliance costs as part of its national digital transformation effort. As of May 2023, the country's total number of administrative procedures was 6,422, 376 fewer than the same period in 2020. This is expected to improve the … [Read more...] about PM urges greater efforts to accelerate administrative reforms

Mai celebrates the last night of the lunar year yachting on the Saigon River in January, 2023. Photo by VnExpress/Minh Tam Born to a father who served in the American marine corps and a Vietnamese immigrant mother, Mai, 32, felt she was different from others ever since she was a child. "Our names, our hair color, and our eye color were different," Mai told VnExpress as she recalled her and her siblings’ childhood in a small town an hour’s drive from San Diego, California, where the majority of residents were white. "We considered ourselves different from others the moment we stepped out of our houses." Hoping to help Mai and her brothers and sisters blend into the local community, her mother didn’t teach them Vietnamese or Vietnamese culture. Her family rarely watched Asian movies and only visited the area’s Little Saigon district once a year to visit her grandmother. Racism was a serious problem during Mai’s school days. Asian children were forced by other students … [Read more...] about Vietnamese-American woman returns to her roots

PM Pham Minh Chinh (R) and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi at the meeting in Hanoi on June 5. (Photo: VNA) Hanoi (VNA) - Prime Minister Pham Minh Chinh received Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi of the United Arab Emirates (UAE) in Hanoi on June 5, calling on the UAE to work closely with the Vietnamese Ministry of Industry and Trade to soon finalise talks on the bilateral Comprehensive Economic Partnership Agreement (CEPA). The host leader hailed the two sides’ efforts to promote negotiations on the CEPA, especially when the two countries are celebrating the 30th founding anniversary of bilateral diplomatic relations in 2023. He affirmed Vietnam’s consistent foreign policy of independence, self-reliance, diversification and multilateralisation of external relations, and being a good friend, trustworthy partner, and responsible member of the international community. The country is also working to develop an … [Read more...] about PM calls for early finalisation of Comprehensive Economic Partnership Agreement with UAE

No-fly, restricted zones to UAVs, ultra-light craft to be test operated. (Photo: http://mod.gov.vn/) Hanoi (VNA) – The Ministry of Defence has issued a plan to publicise the test operation of no-fly and restricted zones to unmanned aerial vehicles (UAVs) and ultra-light flying craft . According to the plan posted on the Ministry of Defense's portal, within a 3-month trial period (May 31 - August 31, 2023), summarised information and data regarding the no-fly and restricted zones to those craft in 15 provinces namely Quang Ninh, Cao Bang, Thai Nguyen, Bac Giang, Bac Ninh, Thua Thien – Hue, Quang Nam, Gia Lai, Dak Lak, Khanh Hoa, Lam Dong, Dong Nai, Binh Duong, Tien Giang, and Ben Tre, will be made available at http://cambay.mod.gov.vn. During the trial period, databases related to other localities will be also reviewed. The trial operation aims to help Vietnamese and foreign organisations as well as individuals involved in the management, operation, and use of … [Read more...] about No-fly, restricted zones to UAVs, ultra-light craft to be test operated

In early April, the Board of Directors at Nam Viet JSC, a seafood producer in the southern region, gave the nod to the decision on dissolving Nam Viet Real Estate Co., Ltd. This company, based in Long Xuyen city in the Mekong delta province of An Giang, was founded in March 2022 to operate in real estate. Real estate might not always prove a fertile venture At the inception, the company had $3.5 million in chartered capital, which was scaled down to around $391,300 in mid-June 2022 before terminating operation in the recent past. At the company’s 2022 general annual shareholders meeting in June, CEO Doan Toi told shareholders that the company owned land, and that they would unveil two real estate projects later in the year, and another two in 2023. Last year, Nam Viet set an ambitious pre-tax profit target of VND1 trillion ($43.4 million) compared to a mere $6.5 million pre-tax profit posted in 2021, and committed to maintaining its profit in the range of a … [Read more...] about Core business key as companies pull out of real estate

Asia’s increased borrowing in recent decades has augmented the region’s exposure to rising interest rates and heightened market volatility, said the International Monetary Fund (IMF). According to the IMF’s latest report on May 25, over 18 per cent of Vietnamese enterprises were found to have an interest coverage ratio (ICR) below one, indicating a high risk of default as of June 2022. Additionally, 18.32 per cent of companies had an ICR between 1-4, making them vulnerable to increased borrowing costs, while 63.36 per cent had an ICR of four, signalling a good debt repayment capacity. The report attributes the heightened risks to the rising cost of borrowing, as central banks tighten monetary policies and increase interest rates to combat inflation. Despite maintaining growth rates, companies face significant pressure due to higher borrowing costs, reducing their ability to repay debts. As of mid-2022, 17 per cent of Asia’s corporate debt was held by firms with interest … [Read more...] about IMF highlights rising debt risks for Asian companies

The fifth plenary session of the 15th National Assembly has discussed and approved a number of important draft bills, including three new amendments to regulations that have significant impacts on the tourism industry in Vietnam. These policies are expected to boost the recovery and development of the tourism sector. Martin Koerner - Chairman EuroCham Vietnam’s Tourism and Hospitality Sector Committee The first law is to extend the visa exemption duration from the current 15 days to 45 days for citizens of countries that currently can travel to Vietnam visa exempt, including France, Germany, Italy, Spain, the UK, Japan, South Korea, Norway, Finland, Denmark, and Sweden. This law aims to attract more tourists from these key markets and encourage them to stay longer and spend more here. The second law is to expand the list of countries eligible for e-visa from 46 to 80, including markets such as India, Brazil, Mexico, and Argentina. The e-visa allows visitors to apply … [Read more...] about The future of tourism in Vietnam new visa policies and beyond

Many tourists to Ha Long City are struggling with summer hot weather as the city has experienced power cuts over the past few days due to power shortages. People flock to Bai Chay Bridge in Ha Long City to enjoy cool air during the power cut in their area A tourist from Hanoi, Nguyen Van Tra, said that he arrived in the coastal city on the early afternoon of June 3 and experienced a power cut just an hour after checking into his hotel. "We found this no problem at first as we had planned to go to the beach that afternoon," he said. "However, the electricity was still off when we returned to our room in the evening and the hotel said that their generator had broken down. We could not stay in our hot, dark room and had to wander around until 4 am the next day when the hotel called to inform us that their generator had been fixed. According to some hotels and restaurants around the Ha Long Bay, they had seen many customers cancel bookings due to the long power cuts … [Read more...] about Ha Long tourists struggle due to power cuts