National assembly chairman

Vo Tri Thanh *Vo Tri Thanh Viet Nam achieved and exceeded 14 out of 15 targets assigned by the National Assembly for 2022 with many impressive numbers including GDP growth, export turnover and the number of newly-established and re-opened businesses. Only labour productivity was under expectations. Viet Nam’s labour productivity was expected to increase by between 4.7 per cent and 5.2 per cent on average in 2022, higher than the average growth rate of 4.7 per cent in 2021 but behind the target of 5.6 per cent set for the whole of 2022. On January 10 this year, the Government issued Resolution No 06/NQ-CP on the development of a modern, efficient, sustainable and integrated labour market serving quick socio-economic recovery, setting the average labour productivity target for 2023 at more than 6.5 per cent. Labour productivity is an important economic indicator that is closely linked to economic growth, competitiveness and living standards within an economy. According to … [Read more...] about Viet Nam wrestles with labour productivity issue when heading to innovation-based development

The suggestion has been sent to the Ministry of Planning and Investment for consideration, before being presented to the central government. The proposal was made as the southern metropolis of 10 million people is currently suffering from a severe shortage of parking space. There are only around 300 ha of parking space, far short of the city’s goal of 1,200 ha, according to official data. HCMC is requesting the National Assembly allow investing in structures with the usage of no more than 10 years on empty land. These projects may include high-rise parking complexes and structures for culture and sport activities. Such investments would help utilize funds from multiple sources, and also help with meeting the demand for parking spaces and reducing the costs incurred due to traffic congestion, HCMC authorities said. As planned, downtown HCMC areas, spanning 930 ha, would have four underground parking lots. However, none of these projects have been deployed due to multiple issues. … [Read more...] about HCMC proposes building parking lots on empty land

Four Vietnamese students from Le Hong Phong High School for the Gifted in the northern province of Nam Dinh won a gold medal at the World Invention Creativity Olympic (WICO) 2023, which recently concluded in the Republic of Korea (RoK). Four Vietnamese students win gold at Invention Creativity Olympic 2023 (Photo: Nam Dinh Newspaper) Their wining invention came from instructions given by Dr. Tran Thi Thanh Xuan, head of the Biology - Technology Department. WICO aims to provide a platform for students from all over the world to come together and create innovations that can be applied in reality. The annual competition is organised by the Korea University Invention Association and supported by the National Assembly of the RoK. This marks the seventh time that Vietnam has attended the WICO and achieved success. In 2019, two inventions by Vietnamese students also won gold medals at the competition. … [Read more...] about Vietnamese students win gold at Invention Creativity Olympic 2023

Young people follow the path of the older generations to contribute to the glorious history and heroic traditions of the Vietnamese People's Army and the Vietnamese Public Security forces. Thirty metropolitan and suburban districts in Hanoi today [February 6] held ceremonies to see off 3,500 young people who were called up for military duty. All newly-conscripted soldiers were required to go through a medical checkup. Major General Bui Trong Quynh, deputy commander of the Hanoi Capital High Command, said all the young men joining the army this year meet the health and educational requirements. Military service is compulsory for Vietnamese between the ages of 18 and 25 (expanded to 27 for those who apply for a deferment to pursue higher studies). Chairman of the Hanoi People’s Committee Tran Sy Thanh attends the farewell ceremony for young soldiers in Dong Anh District. Attending a ceremony in Dong Anh District, Chairman of the Hanoi People's Committee … [Read more...] about Hanoi youths take great pride for military service

The Vietnamese company, a subsidiary of conglomerate Vingroup JSC (VIC.HM), has been moving to expand in the United States, where it hopes to compete with existing automakers. A VinFast spokesperson said headcount would not shrink in Vietnam where most of the company's staff, including its factory and engineering operations, are located. It was not immediately clear how many jobs would be affected by the U.S. restructuring. VinFast said it had hired about 150 people in the United States, many in sales, support and distribution roles as part of a model that bypasses traditional dealerships. The company, which started operations in 2019, said last week that it would delay its first batch of deliveries to the United States to the second half of February. In late January, VinFast said it was merging its U.S. and Canadian operations into a single business unit. It did not announce any job cuts at the time. VinFast said in a statement to Reuters it was looking to "streamline" … [Read more...] about EV startup Vinfast to cut US jobs amid restructuring

Present at the event were Mr. Nguyen Trong Nghia, Head of the Party Central Committee’s Commission for Information and Education; composer Do Hong Quan, Chairman of the Vietnam Union of Literature and Arts Associations (VULAA); and poet Nguyen Quang Thieu, Chairman of the Vietnam Writers' Association. Speaking at the event, Mr. Nguyen Trong Nghia underlined that a number of poets have stood side by side with the whole people in firmly protecting the national sovereignty over sea and islands, natural disaster response, and COVID-19 pandemic prevention and control. He affirmed that many poets have tried their best to discover different aspects of daily life and social issues to bring their best and meaningful works to local readers. He hoped that Vietnamese poets’ works would reach out beyond the national boundary to match with world literature. Each literary work should be an “ambassador” in the field of Vietnamese literature and arts in the current period; and should be a voice … [Read more...] about 2023 Vietnam Poetry Day opened in Hanoi

At the reception for Tatsuo Yasunaga, President and CEO of Mitsui & Co Ltd., the Government leader praised the company’s business performance in Vietnam, particularly in processing and distributing of local aquatic products. PM Phuc welcomed a joint project between Mitsui and Minh Phu Seafood Corporation which could push the shrimp export value of the major shrimp farming business in Vietnam to 1 billion USD. Yasunaga informed his host of the success of the joint project, which has seen over 150 million USD invested in improving Minh Phu’s processing, business management and export capacity, adding the sides plan to focus on upgrading refrigeration equipment and expanding export markets, particularly targeting Russia apart from the US. In another meeting with Han Chang-woo, chairman and CEO of Maruhan Corporation, PM Phuc said Vietnam is pressing ahead with effective equitisation of Stated-owned enterprises (SOEs), particularly in transport, infrastructure, construction, … [Read more...] about PM meets with leaders of Japanese conglomerates

On February 6, Ba Dinh district, Hanoi held a ceremony to hand over recruits to military units in 2023. Secretary of the Hanoi Party Committee Dinh Tien Dung attended the event and encouraged youths of Ba Dinh district to join the military. * Chief of the General Staff of the Vietnam People’s Army (VPA) and Deputy Defense Minister Senior Lieutenant General Nguyen Tan Cuong also joined an enlistment festival in Ha Long city, Quang Ninh province. The quality of young people enlisted in the military this year in the province was reportedly higher than last year in terms of physical health, education level, and political stance. * In the same day, all localities in Hung Yen province held similar ceremonies to hand over recruits to military units. Deputy Defense Minister Senior Lieutenant General Hoang Xuan Chien attended the ceremony held in the province’s Yen My district. In 2023, Hung Yen province has a target to recruit more than 1,800 youths to military units such as Army Corps … [Read more...] about Youths in the whole country start military service in 2023

Last week, the Board of Directors of the Vietnam National Petroleum Group (Petrolimex) approved a plan to divest capital from PG Bank, which means the bank will have a chance to seek a new strategic shareholder to increase its capital after 12 years. Earlier in January, the Sumitomo Mitsui Banking Corporation (SMBC) was likely to complete capital divestment from Eximbank. Meanwhile, VPBank is working to sell 15% of its stake to a foreign partner. Once the deal finishes, it will be one of the banks with largest equity in the system. In a directive issued earlier this year, the State Bank of Vietnam (SBV) no longer banned banks from paying cash dividends. Accordingly, this year, many banks are preparing to pay cash dividends such as VPBank, TPBank, VIB and ACB. In its Directive 01/CT-NHNN, the SBV also encouraged banks to pay cash dividends in shares to increase charter capital, improve financial capacity and credit supply to the economy, and stabilise market interest rates. … [Read more...] about Bustling M&A deals in banking industry at year beginning