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Local experts suggest it is necessary to coordinate with employers in the recruitment, organization of training, and retraining of employees to overcome the shortage of qualified workers and contribute to the recovery of production and business activities. Hanoi's authorities will come up with specific solutions to improve the quality of labor and link vocational training with labor market demand, targeting 73.2% of skilled workers by the end of 2023. Submunicipal authorities, experts, and people have shared with Hanoimoi Newspaper the labor market outlook and proposals to address problems related to recruitment and vocational training problems in the city. Local workers are learning sewing skills at the Hanoi Center for Employment Service. Photo: Hanoimoi Newspaper Director of Hanoi Department of Labor - Invalids and Social Affairs Bach Lien Huong : Focus on linking vocational training with enterprises In recent years, vocational training … [Read more...] about Solutions to boost labor quality: Experts

The CEO and Regional Head, Client Coverage, Americas, Standard Chartered, shared his view on Vietnam's significance for US businesses and why Vietnam is potential for foreign investors. Vietnam has gone from being a frontier economy in ASEAN to a flourishing, cost-effective industrial nation. Firms and investors looking for new markets to grow, source, or manufacture their products – especially in Asia – should consider Vietnam’s long-term potential and stay updated on its opportunities. Steven Cranwell, CEO and Regional Head, Client Coverage, Americas, Standard Chartered. Photo: Standard Chartered In recent years, Vietnam has benefited from the trade tensions between the US and China. With US companies adopting a ‘China plus one’ approach to their supply chains, the percentage of exports from Vietnam to the US has risen by approximately nine percent between 2018 and 2021. It is, however, important to note that Vietnam has been an alternative to China … [Read more...] about The significance of Vietnam for US businesses and why they should take notice: Standard Chartered

The phase will be implemented in Cao Bang, Kon Tum, and Ninh Thuan provinces, aiming to empower ethnic youth, especially girls and young women, in boarding secondary schools and neighboring communities to overcome stereotypes and to voice and act on their dreams, hopes, and aspirations in education. Speaking at the event, Justine Sass, Chief of the Section of Education for Inclusion and Gender Equality of UNESCO Headquarters in Paris, said that education can be a true source of empowerment when it addresses the gender-based barriers, stigma, and discrimination that hold learners back from fulfilling their right to education and future life, work and leadership opportunities. “We must harness education's power to unlock the potential of learners in all of their diversity and transform educational institutions to achieve just, equal, and inclusive societies,” she shared. UNESCO Representative to Vietnam Christian Manhart said that the project is expected to contribute to the … [Read more...] about UNESCO continues promoting education for ethnic girls

The talk between Prime Minister Pham Minh Chinh and his guest focused on measures to tap the potential and strengths of both sides and further promote bilateral cooperation, especially between Vietnamese localities and Yunnan province in the near future. Prime Minister Pham Minh Chinh highlighted the need to continue concretizing the common view of Vietnamese Party General Secretary Nguyen Phu Trong and Chinese Party General Secretary and President Xi Jinping on taking the Vietnam - China relations into a new development phase with higher political trust, more practical and effective cooperation and a stronger friendship foundation. He wished that the two countries’ ministries, agencies and localities would maintain regular exchanges, effectively make use of existing cooperation, and actively promote friendly exchanges between mass organizations in border areas to raise mutual understanding and trust. The Prime Minister also wanted to expand mutually-beneficial cooperation … [Read more...] about Prime Minister hosts leader of Yunnan provincial Party Committee

As foreign direct investment (FDI) business representatives and analysts gathered at an investment forum Wednesday morning, Deputy CEO of Deloitte Vietnam Phan Duc Hoang said that the new global minimum corporate tax was designed to block multinationals from tax avoidance. Starting next year Vietnam is set to apply a 15% tax on profits from multinationals with total revenues of at least EUR750 million ($819 million) in two of the preceding four years. Hoang said if a South Korea-based company that has a factory in Vietnam is paying taxes for less than 15% of its profits, it will be taxed in South Korea to ensure the 15% level is achieved. If South Korea does not also implement the extra tax on the company, other countries that have approved the new global minimum corporate tax, such as Indonesia and Thailand, will have the rights to impose the tax, he added. For this reason, Do Thien Anh Tuan from the4 Fulbright School of Public Policy and Management, forecast that Vietnam will … [Read more...] about Don’t rely on tax incentives for FDI: analysts

In 2008, the US investment bank Bear Stearns, on the verge of collapse, had to be rescued by J.P. Morgan. This marked the beginning of the global financial crisis of 2008, which sent the global economy into a deep recession and caused significant economic damage, including massive employment losses. Patrick Lenain, senior associate at the Council on Economic Policies Today, several banks are once again in trouble. As of March 22, four large banks were in distress. Silicon Valley Bank (SVB), a $212 billion US bank specialising in tech startups, collapsed when it was unable to meet deposit withdrawal requests and had to be taken over by federal regulators. A few days later, Signature Bank, another midsized US bank with assets of $110 billion, also suffered a severe liquidity crisis and was seized by federal regulators. This was followed by First Republic Bank with assets of $205 billion, which was hit by rating downgrades and a tumbling share price and had to be … [Read more...] about Developments for Vietnam to watch in midst of bank crisis

A bowl of daffodils displayed in a porcelain bowl. Photo: Nguyen Khac Tuong Daffodils often appear during the Lunar New Year and on the altars of many Hanoian families. Nguyen Trang, who loves and has extensive knowledge of the flowers, shared that every year since the 1990s, her mother has had to buy a bunch of beautiful daffodils and put them in an antique glass bowl to offer on her grandfather's altar. The hobby of displaying daffodils contributes to preserving traditional culture and bringing it closer to modern life. Today, the hobby has become more common in daily life. People prune flower bulbs from December to the end of April. Daffodil pruning has become popular on occasions such as New Year's Day, Valentine's Day, Women's Day, and Reunification Day. Beautiful bowls of daffodils also appear at weddings, birthdays, and conferences throughout the spring. Currently, many groups have been created for people who are interested in the flowers and enthusiasts join to share … [Read more...] about Tending daffodils is an elegant aspect of Hanoian culture

At last week’s AGM, privately-held Nam A Bank signalled its ambition to expand its footprint in the international market by establishing a wholly-owned commercial bank, or to set up a branch in a foreign country. Banks expanding share over borders, illustration photo/ Source: Nam A Bank This is part of the bank’s long-term strategy to diversify revenues, capitalise on other prospective foreign markets, and build a robust banking ecosystem. “This plan is in line with the upward trajectory of other financial institutions in a bid to support Vietnamese businesses in their international trade and investment activities,” said a bank representative. “We haven’t decided the exact location, but our target would be focused on the Asian market first.” Regarding its domestic network, Nam A Bank targets to open at least 20 new branches and transaction offices in various localities, such as Quang Ninh, Nghe An, Dak Nong, Binh Thuan, and Long An provinces. The bank’s AGM also … [Read more...] about Banks expanding share over borders

Representatives of the ILO and the Vietnamese partners show the signed Decent Work Country Programme Vietnam 2022 - 2026 on March 28. (Photo qdnd.vn) Hanoi (VNA) – The Decent Work Country Programme Vietnam 2022 - 2026 was signed between representatives of the Vietnamese Government, workers, and employers and the International Labour Organisation (ILO) in Hanoi on March 28. The MoU on the programme was signed by Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung, President of the Vietnam General Confederation of Labour (VGCL) Nguyen Dinh Khang, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong, President of the Vietnam Cooperative Alliance (VCA) Nguyen Ngoc Bao, and ILO Country Director for Vietnam Ingrid Christensen. The country programme provides a cooperation framework for the ILO and the Vietnamese partners until 2026 with a view to ensuring decent and sustainable work for all and that by 2026, Vietnamese people, especially those at … [Read more...] about Vietnam, ILO sign decent work country programme for 2022 – 2026

Bangkok (VNA) - The Thai government will fully support this year's Songkran Festival , which takes place from April 13-15, with 17 – 20 million people expected to travel around the country next month. According to Government spokesman Anucha Burapachaisri , Prime Minister Prayut Chan-o-cha had ordered state agencies to prepare grand events for the holiday. The expected number of tourist represents a significant increase from the COVID-19 pandemic period. Anucha said the government has launched campaigns to encourage people to enjoy trips and travel during public holidays between now and September under the Tourism Authority of Thailand's "Visit Thailand Year: Amazing New Chapters" scheme and such campaigns as We Travel Together, Wonder Deal and Secret Code 365. To ensure safety, visitors are encouraged to install the "I Lert U" smartphone application, which allows users to report issues and request assistance. Moreover, it locates the caller and sends help using the … [Read more...] about Thailand expects 17-20 million travelers during Songkran Festival