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According to data from the Indonesia’s Ministry of Investment, the first quarter FDI, which excludes investment in the banking and oil and gas sectors, was worth 177 trillion IDR (11.96 billion USD), up 43.3% compared to the last quarter of 2022. Investment Minister Bahlil Lahadalia said that FDI in the manufacturing sector, especially the metal industry, in Q1 ranked first, which showed the government policy to give added value on natural resources has had a positive impact. Indonesia is due to ban the export of raw minerals like copper and bauxite from June as part of efforts to attract investment into its metals processing industry and boost the value of its exports. Singapore, China’s Hong Kong, and China provided the largest share of the FDI in the first quarter with investment of 4.3 billion USD, 1.5 billion USD and 1.2 billion USD, respectively, according to the ministry’s data. At a news conference, Bahlil said challenges to achieve the investment target included a … [Read more...] about Indonesia’s Q1 FDI hikes over 20%

The mega container ship M/V OOCL SPAIN enters the Gemalink port, which is part of the Cai Mep-Thi Vai port complex in Phu My town, Ba Ria-Vung Tau province. (Photo: VNA) Hanoi (VNA) – The development of a free trade zone in Ba Ria-Vung Tau with link to local seaports is expected to provide the southern province with opportunities to increase its attractiveness to foreign investors and to access technical assistance from partners in borderless trade. In the most common understanding, a free trade zone is a geographical area within a country or a territory where import and export taxes and trade management measures are not applied. If effectively implemented early, this solution will not only allow Ba Ria-Vung Tau to efficiently utilise its potential and opportunities in the new context but also create a ripple effect for the entire Southeastern region, Director of the Central Institute for Economic Management (CIEM) Tran Thi Hong Minh assessed at a logistics development … [Read more...] about Ba Ria-Vung Tau sees breakthrough opportunities with model of seaport-linked free trade zone

Kwon, currently 112th in the world rankings, lost to Thailand's Kasidit Samrej, who is ranked 500 places below him. The match in Hangzhou, China saw Kwon lose 3-6 in the first set before winning 7-5 in the second. He then lost the match by losing the third set 4-6. When the match ended, Kwon smashed his racquet to pieces and refused to shake hands with both Samrej and the referee. A video of the incident garnered over six million views on Chinese social media. Many said the 25-year-old went into a rage because he missed the chance to be exempted from military service. Any male South Korean athlete that wins an Asian Games gold medal is exempted from military service. Tennis player Chung Hyeon and football star Son Heung-min have both won the privilege in recent years. Kwon's defeat has been the biggest surprise of Asian Games men's tennis so far. He was seeded fourth among 16 seeds. Chinese news site Sohu said Kwon’s rage was also provoked by Samrej’s style of play. The … [Read more...] about Korean tennis star’s racket-smashing tantrum goes viral

An ornamental craft village tourist site in Hong Van commune,  Thuong Tin district, Hanoi (Photo: https://hanoimoi.vn/) Hanoi (VNA) – With its great potential for ecological agriculture and tourism, especially in riverbank area s, Hanoi has paid attention to developing riverside agri-tourism models. In Vietnam's tourism development strategy , ecotourism associated with agriculture and rural areas is one of the five key products. Visiting fruit and flower gardens, and agricultural farms, taking time to check in there, enjoying local specialties, and listening to historical stories at relic sites are activities visitors can experience at Hong Van commune, Thuong Tin district. Hong Van commune's ornamental craft village tourist site is one of the two OCOP (One commune, One Product) products of Hanoi. Located along the Hong (Red) River, in recent years, Hong Van commune has become an eco-tourism and agri-tourism attraction in the capital city. According to … [Read more...] about Hanoi moves to tap riverside agri-tourism potential

At the panel discussion, entitled “Promoting Nature Positive Business and Green Growth through Practicing ESG in Businesses,” held as part of the 2023 Vietnam Corporate Sustainability Forum in Hanoi on August 23. (Photo: VietnamPlus) Hanoi (VNA) - Transitioning to a sustainable business model with reduced carbon emissions is the optimal solution for companies facing environmental protection challenges and climate change adaptation. This requires businesses to innovate through smart solutions and efficient resource utilisation. This was a topic of discussion at the 2023 Vietnam Corporate Sustainability Forum (VCSF) held in Hanoi on August 23, one of the most important dialogues between the Vietnamese government and business community to promote sustainable development. Themed “Global Green Race: From Strategy to Execution of Sustainable Business,” the annual event that began in 2014 was co-organised by the Vietnam Chamber of Commerce and Industry (VCCI) and the … [Read more...] about Firms ready to switch to low-carbon economic model

Thanh Tung dropped his major in marketing after pursuing it for a year and realizing it was not the right path for him. But for several months after switching majors, he’d been suffering from anxiety and insomnia over the decision. "I went to bed late, woke up at around 3-4 a.m., and could not go back to sleep until the morning. I had negative thoughts and cried a lot." The young man said he worried that his new major was just another "wrong decision." He felt like he didn’t have the energy to do anything other than lie down and surf his social media feeds. But this habit only compounded the problem from another angle. "Seeing so many talented people around my age on social media made me feel inferior," he said. "I felt like no matter what I do, I would never be as successful as them." Other aspects of his life had also been affected, including his relationships. Just a delay in the speed of his girlfriend’s text message replies made him wonder if she was tired of him or had … [Read more...] about Vietnamese youth suffer from overthinking, anxiety

Work on the Bien Hoa - Vung Tau Expressway between the beach city of Vung Tau and the industrial city of Bien Hoa in Dong Nai Province began in June. But contractors have yet to receive cleared land to build the expressway in Dong Nai. Slated to cost around VND18 trillion (US$755.67 million) in total, the expressway will run 53.7 km in Ho Chi Minh City and 34 km in Dong Nai before reaching Ba Ria - Vung Tau Province. In Ba Ria – Vung Tau, 80% of site clearance has been completed, while in Dong Nai progress has reached just 6%. Nguyen Hong Que, deputy director of the board that is in charge of site clearance and compensation for the expressway in Dong Nai, said 290 hectares still need to be cleared to serve the project. Of 3,700 houses that need to be removed, many were built illegally, and their owners do not have official house ownership certificates. Instead, they have only hand-written papers, making it complicated for compensation procedures, said Que. In addition, … [Read more...] about Site clearance delays road construction in Dong Nai

Keijo Norvanto, Ambassador of Finland to Vietnam On behalf of the Embassy of Finland to Vietnam and the Finnish business communities in Vietnam, I would like to congratulate Vietnam Investment Review on its 32 nd anniversary. I would like to express our appreciation to the VIR editors and its dedicated and talented reporters for their continuous work, introducing the Vietnam business environment and opportunities to Finnish businesses. Moreover, VIR ’s continuous cooperation with us provides the audience with Finnish experiences and know-how in education, circular economy, and other advanced technologies. The Vietnamese government committed to net-zero by 2050 and recently joined the Just Energy Transition Partnership declaration that aims to contribute to Vietnam’s sustainable development. In that, Finland possesses globally competitive technology and expertise in many areas, which will help Vietnam achieve the country-set targets. Additionally, our proven … [Read more...] about Defining the role of the press in business

JAKARTA/HANOI -- Just Energy Transition Partnership (JETP) discussions on the early retirement of coal-fired power plants in Indonesia may have hit a snag as a local official said on Monday that western countries are not ready to finance such projects. JETP, a financing scheme made up of equity investments, grants and concessionary loans from members of Group of Seven (G7), multilateral banks and private lenders, is aimed at helping developing nations accelerate their shift towards cleaner energy sources in the power sector and cut reliance on dirty fuel such as coal. South Africa was the first country to reach a deal under the JETP, securing a $8.5 billion financing pledge in 2021. Indonesia secured $20 billion and Vietnam $15.5 billion in deals struck in late 2022. Here's an update of JETP's progress in Indonesia and Vietnam. Indonesia Indonesia had planned to announce in August its investment plan for the funds pledged under JETP, but it has since delayed the … [Read more...] about Indonesia, Vietnam energy transition financing under JETP