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Workers put out coffee beans to dry in a glass house in northern Son La Province — VNAVNS Photo Huu Quyet Vietnamese businesses must stay vigilant and do their homework to avoid trade and legal disputes in exporting to the UK to take full advantage of the United Kingdom-Vietnam Free Trade Agreement (UKVFTA), which officially went into effect last May, say industry experts and policymakers. The agreement was intended to provide both sides with the same trade benefits under the previously signed EU–Vietnam Free Trade Agreement (EVFTA ) as the United Kingdom has left the EU. UKVFTA aims to go even further than the EVFTA to boost trade between Viet Nam and the UK with 65 per cent of all tariffs having been removed so far. In the next six years, the agreement is to remove up to 99.2 per cent of all tariffs on Vietnamese exports, with the Southeast Asian country to remove 48.5 per cent of all tariffs on UK products in return. Early signs have shown a positive effect on bilateral … [Read more...] about Trade and legal disputes part of the game with UKVFTA

Over the next two months, Tran Manh Kien in Hanoi’s Bac Tu Liem district will complete his new 3-storey house worth about VND1 billion (nearly $43,500). The 53-year-old has been dreaming about such an asset for years. Previously, his 5-member family lived in a small tile-roofed house with a total monthly income of VND8 million ($350), which made it difficult for them to afford livelihood. “However, everything changed when my sons went to work in Japan and South Korea in 2019,” Kien said. One of his sons is now working for Hyundai Group’s ship-building maker Staco Company with a monthly wage of $2,500, seven times higher than his family’s previous income. He sent $1,500 a month to his home. The other son, currently working for an electronic company in Japan, sends the same money back every month. “If they were not working overseas, we would never have the new house,” Kien said. Near Kien’s house is also a newly-repaired one owned by 60-year-old Do Huu Co, who said that he has … [Read more...] about Cash flows into overseas Vietnamese homeland continue to support its rise

The ministry clarifies that it does not put a specific duration on apartment ownership and this will be determined by the safety duration of the construction, Nguyen Manh Khoi, deputy head of the department of housing and real estate under the ministry, said at a press briefing Thursday. This means a building that was designed to be used safely for 70 years will have an ownership duration of 70 years, but after that period owners can ask authorities to evaluate its safety and extend this period to even 80 or 90 years. The proposal, if approved, will only affect a building after it has come into effect. This means if the new law comes into effect in July 2024, buildings with permits issued before that will still have unlimited ownership. When the ownership expires and authorities deem the building no longer safe, residents can pay for the reconstruction of the building at the same location and do not need to pay land use fee. In the case that the government does not want the … [Read more...] about Apartment ownership duration proposed for residents’ safety: ministry

The ministry clarifies that it does not put a specific duration on apartment ownership and this will be determined by the safety duration of the construction, Nguyen Manh Khoi, deputy head of the department of housing and real estate under the ministry, said at a press briefing Thursday. This means a building that was designed to be used safely for 70 years will have an ownership duration of 70 years, but after that period owners can ask authorities to evaluate its safety and extend this period to even 80 or 90 years. The proposal, if approved, will only affect a building after it has come into effect. This means if the new law comes into effect in July 2024, buildings with permits issued before that will still have unlimited ownership. When the ownership expires and authorities deem the building no longer safe, residents can pay for the reconstruction of the building at the same location and do not need to pay land use fee. In the case that the government does not want the … [Read more...] about Ministry ignores backlash, reiterates need to limit apartment ownership duration

At least nine more people have died from water-borne diseases in flood-hit areas of Pakistan, officials said on Tuesday, as actress Angelina Jolie made a surprise visit to the South Asian nation to meet people affected by the crisis. An intense and long monsoon dumped around three times as much rain on Pakistan than on average in recent weeks, causing major flooding that killed 1,559 people, including 551 children and 318 women, according to the disaster management agency. Officials are warning they now risk losing control of the spread of infections in a dire situation that UNICEF described as "beyond bleak". Hundreds of thousands of people displaced by the floods are living in the open and as flood waters spread over hundreds of kilometres (miles) start to recede - which officials say may take two to six months - stagnant waters have led to diseases like malaria, dengue fever, skin and eye infections and acute diarrhoea. Hollywood actress Angelina Jolie, arrived in Pakistan … [Read more...] about Pakistan flood-borne diseases could get ‘out of control’ as deaths rise

Source: freepik.com Denny Abdi - Indonesian Ambassador to Vietnam In 2021, I shared thoughts in VIR on Vietnam’s integration into the world, the critical role of economic media in promoting the country’s global vision, and how bilateral relations between Indonesia and Vietnam remain positive despite the pandemic. Many economists claimed that economic recovery in 2022 would be better but remain uneven. Geopolitical instability has been the top-cited threat, followed by the current recession. As we are witnessing the ongoing energy crisis, the urgency for countries to fully commit and move towards diversified and net-zero emissions sources is an immediate priority. Moreover, countries in Southeast Asia are among those most vulnerable to climate change, and the region as a whole is still largely dependent on fossil fuels. Energy supply currently is a drama for most countries. Nations are contesting their green energy strategy but still lack implementation. As two … [Read more...] about Carrying the torch in Vietnam’s media