Nationalize industries

Kuala Lumpur (VNA) – The Malaysian Government will focus on three main issues this year to achieve high-income nation status by 2026, including fiscal strengthening by focusing on increasing revenue and spending rationalisation. According to the country’s Ministry of Economy, Malaysia will identify new sources of growth including high-tech industries and prioritise digitisation such as electrics and electronics, aerospace, smart agriculture and biomass and reform the economic structure towards a higher value chain. The ministry said that the country’s government will identify new sources of growth including high-tech industries and prioritise digitisation such as electricity and electronics, aerospace, smart agriculture and biomass, along with reforming the economic structure towards a higher value chain. It will also focus on developing an economy based on the service sector, empowering micro, small and medium enterprises and encouraging research, development, … [Read more...] about Malaysia focuses on three issues to become high-income nation by 2026

This is the first high-ranking delegation of Vietnam to pay an official visit to the RoK since the two countries elevated their ties to a comprehensive strategic partnership in December 2022. The trip aims to further intensify the countries' relations, political trust, and cooperation between the two parliaments in bilateral and multilateral aspects. The delegation will have discussions with the RoK to serve the amendment of some important laws such as the Land Law, the Law on Electronic Transactions, the Law on Protection of Consumer Rights, the Law on Price, the Law on Bidding, and the Law on Cooperatives, along with the e-parliament building. Visiting the Vietnamese Embassy in the RoK on March 19, the N.A. delegation had a meeting with the embassy’s staff and representatives of the Vietnamese community there. N.A. Vice Chairman Nguyen Duc Hai affirmed that the Party and State always view overseas Vietnamese as an integral part and a resource of the country, as well as an … [Read more...] about National Assembly Vice Chairman Nguyen Duc Hai pays official visit to RoK

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency. - Economic cooperation should continue to be the focus of bilateral ties between Vietnam and the Republic of Korea, National Assembly (NA) Vice Chairman Nguyen Duc Hai said at his talks with Deputy Assembly Speaker of the RoK Chung Woo-taik in Seoul on March 20. Read full story - Chief Justice of the Supreme People’s Court Nguyen Hoa Binh and Minister of Justice Le Thanh Long cleared up questions regarding asset recovery in corruption cases, at a Q&A session in Hanoi on March 20 as part of the 21st meeting of the National Assembly (NA) Standing Committee. He admitted that the work has yet to be done strictly although 40% of the assets were recovered over the past decade. Read full story - Vietnam is striving to lure more Japanese investments to digital transformation and green growth, as recommended in the Vietnam-Japan Joint Initiative (VJI). Phase VIII of the … [Read more...] about ☕ Afternoon briefing on March 20

How can 5G and digital transformation impact the performance of industries such as manufacturing, logistics, agriculture and e-commerce over the coming years? Denis Brunetti, president of Ericsson in Vietnam, Myanmar, Cambodia and Laos As a critical digital national infrastructure, 5G has the potential to significantly transform society, industries, and the economy, as well as benefiting the environment. In the past, developing economies depended on traditional inputs to fuel growth, such as low-cost labour and natural resources. Moving forward, the new economy will increasingly depend on more sustainable inputs, such as science, technology and innovation, whereby data will become the new oil that creates as much as drives a more inclusive and sustainable socioeconomic development, securing broader range prosperity for all. Through 5G, the introduction of Industry 4.0 will be accelerated across thousands of factory floors in Vietnam, enabling robots, digital twin … [Read more...] about Going digital and green in partnership with Ericsson

The Japanese government has launched the Asia Energy Transition Initiative (AETI), which includes knowledge sharing, technology development, and deployment of decarbonisation and $10 billion in financial assistance to push forward green energy transition. Japanese Prime Minister Fumio Kishida also proposed the Asia Zero Emissions Community (AZEC) initiative during his visit to Vietnam last April. The initiative's goal is to achieve both sustainable growth and carbon neutrality amid growing energy demand in Asian countries. The Japanese government is willing to cooperate with ASEAN countries to achieve a pragmatic energy transition by providing financial and technical support for the demonstration and introduction of decarbonisation technologies. As one example, the Ministry of Industry and Trade of Vietnam, the Japanese Embassy to Vietnam, and the JCCI jointly organised a workshop on cooperation between the two countries for the development of power and energy fields focussing on … [Read more...] about JCCI proposes solutions to promote investment in green energy

ADC Pharma in Can Tho Province. As the domestic pharmaceutical market holds a lot of potential, local producers are urged to improve their competitiveness for expansion. — VNA/VNS Photo Thanh Liem It is critical for pharmaceutical companies to improve competitiveness with a focus on research and development (R&D), production technology and digitalisation. According to experts, this will help them expand their shares in the domestic market which remains being dominated by imported drugs and extend their international reach. Viet Nam’s pharmaceutical market has significant potential. The Ministry of Health estimated the market at US$6.9 billion in 2021 while BMI Research forecast the market to reach $16.1 billion in 2026 with a compound growth rate of up to 11 per cent. According to Nguyen Dieu Ha, general secretary and office chief of the Vietnam Pharmaceutical Companies Association (VNPCA), there are 55 foreign-invested pharmaceutical companies in Viet Nam as of the end of … [Read more...] about Pharmaceutical companies urged to invest in R&D, improve competitiveness