New economics foundation

Gabor Fluit, CEO of De Heus Asia, has been elected as the new chairman of the European Chamber of Commerce in Vietnam (EuroCham Vietnam). At the annual general meeting of the EuroCham in Hanoi and Ho Chi Minh City last week, Fluit was picked to replace his predecessor Alain Cany, chairman of Jardine Matheson Vietnam Group. Fluit will lead a new board of directors including 17 members. They will continue boosting and strengthening the economic ties between Europe and Vietnam. Fluit began working in Vietnam in 2008 when he was named CEO of De Heus Vietnam, which specializes in animal feed. In 2015, he became CEO of De Heus Asia. He was named vice-chairman of EuroCham Vietnam in March 2021. His wife is Vietnamese. The new EuroCham Vietnam chairman said, “Vietnam is opening up many business opportunities, so I want to work with members and partners of EuroCham to exploit the potential in the Vietnamese market. “With the foundation and the large network of EuroCham, I believe … [Read more...] about EuroCham Vietnam has new chairman

Urban planning is critical to Hanoi's socio-economic and urban development. Hanoi is aiming to achieve a target urbanization rate of approximately 60-62% by 2025, and a further increase to around 65-75% by 2030. The Red river delta. Photo: Thanh Hai/The Hanoi Times Hanoi aims to achieve a target urbanization rate of approximately 60-62% by 2025 and a further increase to around 65-75% by 2030. The objectives include an action program issued by the municipal Party Committee that outlines its efforts to implement the Politburo's Resolution No.06-NQ/TW on the planning, construction, management, and sustainable development of urban areas in Vietnam up to 2030 and beyond, with a vision for 2045. Other key objectives include expanding the urban construction area to about 30% of the total natural land area by 2025 and increasing it to 33-36% by 2030. The city intends to complete all district planning, satellite urban zoning plans, functional area … [Read more...] about Hanoi target urbanization rate of 75% by 2030

La Gan offshore wind power project. Viet Nam has many favourable conditions to create a thriving offshore wind industry. — Photo vietnamplus.vn Offshore wind is a great dual opportunity for Viet Nam, helping deliver green and cost-efficient energy for the continued economic development of the country and at the same time support Viet Nam in achieving its net-zero by 2050 commitment made in COP 26. Nicolai Prytz, Denmark ambassador to Viet Nam, made the statement at the workshop “Promoting Viet Nam’s Offshore Wind Power Development: International Best Practices and Policy Recommendations” held in Ha Noi on Thursday. Viet Nam has many favourable conditions to create a thriving offshore wind industry: a long coastline, ample wind resources, relatively shallow seabed areas suitable for fixed foundations, and a well-established supply chain that can be used almost immediately or transition relatively quickly to support many parts of the construction process and associated … [Read more...] about Dual opportunity for Viet Nam in offshore wind industry development

Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc At the opening of the forum, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said that green growth and sustainable development are the focus of many countries, including Vietnam, which has been seeking a sustainable growth model for over a decade. In 2012, the government issued the National Strategy on g reen growth for the 2011-2020 period with a vision to 2050, while the National Assembly amended and supplemented legal documents that created a foundation for sustainable development. "The Ministry of Planning and Investment (MPI) advised the government to issue a new green growth strategy for the period of 2021 - 2030 and update the national action plan. This will contribute to Vietnam meeting its commitments ahead of COP26, through economically feasible solutions," said Ngoc. The key point of the strategy is to harmonise the objective of emissions reduction with socioeconomic development. … [Read more...] about Fostering ties with private sector in green growth

Secretary of the Party Central Committee and head of its Commission for Information and Education Nguyen Trong Nghia (fifth from left) and other delegates at the booth of the Vietnam News Agency. (Photo: VNA) Hanoi (VNA) – Secretary of the Party Central Committee and head of its Commission for Information and Education Nguyen Trong Nghia on March 17 asked press agencies and journalists to stay resolved to fulfill the target of building a revolutionary press circle of professionalism, culture and modernity. In his opening remarks at the 2023 National Press Festival in Hanoi, Nghia suggested that more attention should be paid to personnel development in order to improve the efficiency of the popularisation of the Party’s guidelines and the State’s laws and policies. The sector needs to mirror national reforms, promote patriotic movements and highlight economic bright spots and prospects, thus raising public consensus and confidence in the leadership and management of the … [Read more...] about Party high-ranking official urges building professional revolutionary press

All apprentices must be at least 15 years of age and have educational and health qualifications appropriate to the trade they are learning. Hanoi has drawn up a plan to train 14,720 workers in less than three months by 2023, including women, rural workers, people with disabilities, and young people doing their military service. The plan aims to help raise the proportion of educated workers to 73.2%, of which the share of workers with degrees and certificates will reach at least 52.5%. Accordingly, the Hanoi People’s Committee will support elementary-level training for eleven groups of workers in 78 occupations in the 2023-2025 period. The capital city has also set a target of training more than 21,000 people at the primary level by the end of 2023, of which over 9,000 will be trained in non-agricultural occupations and around 12,000 in agricultural occupations. Vocational training in lacquer painting at a facility in Hanoi. Photo: Huy Bang All … [Read more...] about Hanoi to train 14,700 workers in less than three months

Bui Tat Thang, VASEAN’s vice chairman made the statement at a gala dinner meeting with ASEAN ambassadors held in Hanoi last week, aiming at increasing mutual understanding and cohesion, preparing for extensive cooperation in 2023. He added that the VASEAN would also promote cultural exchange to contribute to promoting economic cooperation; develop annual economic reports (trade and investment) of ASEAN countries. After 15 years of establishment, the association has gradually affirmed its position and historical mission, contributing to the development of economic cooperation and cultural exchange of ASEAN countries and countries in the Asia-Pacific region in general. VASEAN has continuously grown and developed. A part of the development comes from the process of cooperation, exchange and mutual sharing of embassies in the region. In 2022, the association organized a working delegation with a number of embassies to enhance understanding, exchange and create opportunities for … [Read more...] about VASEAN aims to promote cooperation in ASEAN countries

Under a new deal, IFC is providing a $40 million loan, the first phase of an overall planned $120 million financing package, to help SHB to provide more support for local enterprises and boost their participation in the global supply chain. More than one-third of the funding will be exclusively targeted for women-owned small- and medium-sized enterprises (SMEs), with support from the Women Entrepreneurs Opportunity Facility (WEOF) and the Women Entrepreneurs Finance Initiative (We-Fi) through a performance-based incentive, which encourages financial institutions to provide financing to women-owned small businesses. IFC’s investment is expected to help SHB more than double the number of SME loans as well as the outstanding loan volume for women-owned businesses by 2025. While SMEs are critical to Vietnam’s economy, generating 40 per cent of GDP and 50 per cent of jobs, they are having difficulty accessing finance, with about 62 per cent of total SME financing needs unmet. An IFC … [Read more...] about IFC partners with SHB to boost lending for SMEs

At the signing ceremony on Tuesday. — Photo courtesy of IFC The Sai Gon-Ha Noi Commercial Joint Stock Bank (SHB) has teamed up with the International Finance Corporation (IFC) to increase access to finance for small and medium enterprises (SMEs) in Viet Nam. As part of the agreement signed on Tuesday, IFC is providing a US$40 million loan to SHB, which is the first step towards a total financing package of $120 million. This funding will help SHB support local businesses and enhance their participation in the global supply chain. The investment from IFC is expected to more than double the number of SME loans and outstanding loan volumes for women-owned businesses by 2025. Furthermore, more than one third of the funding will be solely targeted at women-owned SMEs, with support from the Women Entrepreneurs Opportunity Facility (WEOF) and the Women Entrepreneurs Finance Initiative (We-Fi), through a performance-based incentive programme which encourages financial institutions to … [Read more...] about IFC partners with SHB to boost lending for Viet Nam’s smaller businesses

As part of the agreement signed on March 20, IFC is providing a USD 40 million loan to SHB, which is the first step towards a total financing package of USD 120 million. This funding will help SHB support local businesses and enhance their participation in the global supply chain. The investment from IFC is expected to more than double the number of SME loans and outstanding loan volumes for women-owned businesses by 2025. Furthermore, more than one third of the funding will be solely targeted at omen-owned SMEs, with support from the Women Entrepreneurs Opportunity Facility (WEOF) and the Women Entrepreneurs Finance Initiative (We-Fi), through a performance-based incentive program which encourages financial institutions to provide financing to women-owned small businesses. This is particularly important, as SMEs generate 40% of Vietnam's gross domestic product (GDP) and 50% of jobs, yet 62% of total SME financing needs go unmet. An IFC study estimates that Vietnam’s financing gap … [Read more...] about IFC helps boost lending for Vietnam’s smaller businesses