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Ambassador Nguyen Phuong Tra, Deputy Permanent Representative of Vietnam to the UN, speaks at the session (Photo: VNA) New York (VNA) - Vietnam supports the expansion of the United Nations Security Council (UNSC) in terms of both permanent and non-permanent members, with the fair representation of groups of nations, especially underrepresented ones, taken into account, Ambassador Nguyen Phuong Tra , Deputy Permanent Representative of Vietnam to the UN, has said. Addressing the first meeting of the Intergovernmental Negotiations on Security Council reform at the 77th UN General Assembly on January 26, Tra also emphasised improving the working method of the UNSC and limiting the use of veto power. She highlighted the importance of dialogues and discussions on the council reshuffle within the IGN framework, suggesting that this process be carried out in a transparent manner, with the participation of all members, and on the basis of respecting the interests of … [Read more...] about Vietnam supports expansion of UN Security Council

A street in Hanoi is flooded after heavy rains. (Photo: VNA) Hanoi (VNA) – Alongside urbanisation , flooding in cities of Vietnam, a country highly vulnerable to climate change, is getting complicated and needs concerted solutions, according to experts. There are more than 800 cities nationwide, including the two special municipalities of Hanoi and Ho Chi Minh City. Big and populous cities such as Hanoi, Ho Chi Minh City, Da Nang, and Vinh of Nghe An province have frequently suffered from heavy losses caused by downpours and flooding. Nguyen Van Tien, Deputy Director of the Vietnam Disaster Management Authority under the Ministry of Agriculture and Rural Development, said Vietnamese cities, especially major ones, are centres of economic, social, and cultural activities and also concentrations of infrastructure facilities and residential areas. They are exposed to many disaster risks, including flooding, which requires proactive preventive and timely response measures. … [Read more...] about Urban flooding needs concerted solutions

The sector should continue to follow policies and guidelines adopted by the Party and the State, while closely coordinating with ministries, agencies and localities to fulfill socio-economic tasks, he said. Priorities should be given to maintaining the macro-economic stability, controlling inflation, spurring growth and ensuring major economic balances, the leader continued. Prime Minister Pham Minh Chinh asked the State Bank of Vietnam (SBV) to improve its analyzing and forecasting capacity, provide timely consultancy and flexibly respond to developments of the domestic and international situation. The central bank was also urged to intensify inspection and supervision, ensure transparency, promote digital transformation, raise service quality, and support innovations and small- and medium-sized enterprises. It needs to further consolidate monetary institutions, mechanisms and policies to create a concerted legal corridor, thus giving a push to the monetary and credit markets, … [Read more...] about Prime Minister urges banking sector to make more innovations

Prime Minister Pham Minh Chinh asked the ministries to quickly resolve the relevant issues to keep the ring road project moving forward as planned. Hanoi and the two provinces of Bac Ninh and Hung Yen have made big progress in land clearance for the construction of the Ring Road 4, Prime Minister Pham Minh Chinh said on January 27. Prime Minister talks to local people that live in the area of the Ring Road 4 on January 27. Photo: Vietnam News Agency At the moment, Hanoi municipal  authorities have developed a land clearance plan for the whole 58.2-kilometer stretch of the ring road that runs through Hanoi. The capital has relocated almost two fifths of all the graves found along the ring road. Hung Yen Province has cleared land in Van Giang, Khoai Chau, Yen My and Van Lam districts and moved almost 16% of all graves along the ring road. Meanwhile, Bac Ninh Province does not have a plan to relocate graves and cemeteries in the project area, but Bac Ninh … [Read more...] about Prime Minister praises Ring Road 4 project’s land clearance

According to the Ministry of Industry and Trade (MoIT), the scale of the Vietnamese retail market is USD 142 billion, which is expected to reach USD 350 billion in 2025, with contribution of 59% to total GDP. Last year, the total revenue from retail sales of goods and services rose 21%, exceeding the target of 8%. A survey by Vietnam Report showed that over 53.8% of total retail firms enjoyed similar and higher business results compared to the pre-pandemic level. Experts held that growth of retail sales is being supported by rise in income and the strong recovery of the tourism sector as well as relevant sectors such as transport and accommodations, as well as the effectiveness of inflation control measures. Particularly, from now to the lunar New Year (Tet) Festival, which falls in late January, consumers are predicted to loosen their wallet dramatically. At the same time, there are signs of vibrant retail activities as many foreign investors have announced their plans to … [Read more...] about Retail market forecast to bustle this year

Between VND150-200 trillion ($6.4-8.5 billion) in bonds are set to mature this year, and if the bond market is left to self-regulate, systemic risks could spread to the banking sector and the entire financial market, Cuong told VnExpress in an interview. Although Vietnam concluded 2022 with a strong post-pandemic recovery, several financial problems plagued the economy last year, among them bond market issues . As there were many high-profile arrests due to alleged misconduct in bond issuance, companies prematurely redeemed VND210.57 trillion worth of their own bonds last year, up 46% from 2021. Although the market could be left to fix its own problems, Cuong said that it is recommended that the government intervenes with policies to ensure post-pandemic recovery, as one problem in the market could shake the market in a major way this year. He added that in the 2008 financial crisis, the U.S. government initially let the market corrects itself, but after Lehman Brothers … [Read more...] about Vietnam government should intervene in bond market: ADB economist

PANO – Cao Bang province on December 15 th solemnly organized a ceremony to mark the 70 th founding anniversary of the Vietnam People’s Army (VPA) and 25 th anniversary of whole people’s defence day, and announce Tran Hung Dao forest’s recoginition as a special national relic site. The event was attended by State President Truong Tan Sang. Opening the ceremony, Secretary of Cao Bang Provincial People Committee and Chairman of the provincial People’s Council Ha Ngoc Chien recalled the establishment and victorious revolutionary traditions of the VPA and the province. Art performance at the ceremony On December 22 nd , 1944, as instructed by President Ho Chi Minh, the Vietnam People’s Army (VPA) was founded in Tran Hung Dao forest in Tam Kim commune, Nguyen Binh district, Cao Bang province. Of the first 34 soldiers of the army at that time, 25 were from ethnic minorities in Cao Bang. Three days after its establishment, with ingenuity and couragousness, … [Read more...] about Cao Bang marks VPA’s 70th founding anniversary

The VN-Index, which tracks the performance of the Ho Chi Minh Stock Exchange (HoSE), closed above the resistance area of 1,100 points, equivalent to 1,120 points of the VN30-Index, in the last trading week. Although cash flow has not improved much, supply pressure has not put great pressure on the market. The market is expected to continue to be supported and gain points in the next trading sessions. Therefore, investors can still expect the market to expand the uptrend and exploit some short-term opportunities in stocks with positive accumulation background, said Viet Dragon Securities Co. 2022 was an eventful year for the Vietnamese stock market with many records set. After a prosperous 2021, the VN-Index continued to stay at its historic peak for the first three months of 2022. However, the market then declined, putting itself on the list of the worst performers in the world. As of December 27, the benchmark had dropped 34.2% to 1,004.57 points, from the 1,520-point peak … [Read more...] about Positive prospects for Vietnam’s stock market this year

Former Deputy Prime Minister Vu Khoan (Photo: chinhphu.vn) Hanoi (VNA) – The signing of the Paris Agreement on Ending the War and Restoring Peace in Vietnam on January 27, 1973, had brought a special spring to the northern region, when for the first time in the resistance war there was no air-raid siren and no evacuation, former Deputy Prime Minister Vu Khoan told Vietnam News Agency during a recent interview on the occasion of the agreement's 50th signing anniversary. At the signing ceremony of the Paris Agreement on Ending the War and Restoring Peace in Vietnam on January 27, 1973. (Photo: VNA) On January 23, 1973, the Paris Agreement on ending the war and restoring peace in Vietnam was initialed by two special advisers Le Duc Tho and Henry Kissinger. On January 27, 1973, the Foreign Ministers of the four parties, including the US, the Democratic Republic of Vietnam, the Provisional Revolutionary Government of the Republic of South Vietnam and the Republic of … [Read more...] about Paris peace accords brings spring of freedom to nation: former Deputy PM

Deputy Minister of Information and Communications Phan Tam speaks at the ASEAN Conference on 5G . (Photo: Minh Son/Vietnam+) On the morning of October 11, in Hanoi, the ASEAN Conference on 5G took place within the framework of the International Digital Week organized by the Ministry of Information and Communications of Vietnam. Deputy Minister of Information and Communications Phan Tam said that ASEAN countries all have 5G development strategies but are facing problems with infrastructure, standards for deployment and information security. Therefore, the cooperation of ASEAN countries to build a 5G roadmap is one of the priority tasks and goals in the coming time. Lao Minister of Technology and Communications - Boviengkham Vongdara, said technology is one of the contents of long-term cooperation between Laos and Vietnam. "Laos wants to learn from the experiences of other countries, including Vietnam, which has achieved many achievements in digital transformation," … [Read more...] about ASEAN discussing 5G deployment roadmap