Oil price falling

Tung Ho Steel Vietnam Corp. Ltd. has lowered its steel bar and coil prices by around 3 percent, or VND500,000 ($21.6) a ton. Thai Nguyen Iron and Steel Company sold its steel products at VND18.75-19.07 million a ton, down 2-3 percent. On average, Vietnam steel prices are hovering at around VND18.5-18.7 million a ton, down 3 percent a ton from April but VND1.5-1.7 million higher than the middle of last year. Insiders attributed the drop to lower input costs, with iron ore prices at China’s Tianjin Port falling 11.5 percent to $139 million a ton. Vietnam’s steel industry has satisfied domestic demand, producing 11.4 million tons of finished steel products on consumption of 10.6 million tons in the first four months this year, according to data from Vietnam Steel Association. But prices are still heavily dependent on global material prices as local supply only meets 30 percent of production demand, it added. Costs of public investment projects will surge 20-30 percent this … [Read more...] about Vietnam steel price drops in May

The US Mission to Vietnam is seeking candidates for the Fall 2022 Young Southeast Asian Leaders Initiative (YSEALI) Academic Fellowship on civic engagement, environmental issues, social entrepreneurship and economic development. According to the organiser, Vietnamese citizens between the ages of 18 and 25, full-time undergraduate students or those who have graduated from college, university, or other institutions of higher learning, who demonstrate strong leadership qualities and potential in their university or place of work, have an interest in community service and volunteerism, and have a good command of English, are invited to apply for the program. The application deadline is 11:59p.m. Sunday, June 5, 2022. The Young Southeast Asian Leaders Initiative is a public diplomacy program designed to advance regional strategic goals, break down barriers that separate the next generation of leaders in Southeast Asia, and link those emerging leaders to the United States. The … [Read more...] about Fall 2022 Young Southeast Asian Leaders Initiative Academic Fellowships announced

Customers buying MEATDeli, a product of Masan MEATLife, at a Vinmart+ store. — Photo thitmatmeatdeli.com HÀ NỘI — Higher animal feed prices have eroded livestock companies’ profits in the first quarter of 2022. VNDirect Securities Corporation said that the Russia-Ukraine conflict had a negative impact on the animal feed industry as supplies of raw materials for animal feed production like corn, soybeans and wheat, are disrupted, causing prices to rise sharply. The two countries are respectively the world's leading and third largest wheat exporter, accounting for one-third of the total trade of this commodity. Besides, Ukraine is the second largest corn exporter, accounting for 22 per cent of the world turnover. As of early April, the price of imported corn at Cái Lân port, Quảng Ninh Province, reached VNĐ9,200-9,500 per kg (US$0.4-0.41 per kg), an increase of 20-25 per cent compared to the end of 2021 and up 50 per cent over the same period last year. The average price of … [Read more...] about Livestock companies profit hit by rising animal feed prices

Việt Nam’s commitments to the net-zero emission target have seen the country shifting from fossil fuels to electricity. — VNA/VNS Photo Công Thử HÀ NỘI — For a developing society and economy like Việt Nam’s, energy is the engine behind growth, especially in post-pandemic recovery. While it is important to save energy, what matters is smart consumption – correct, sufficient, and intelligent use of energy. The statement was made by Nguyễn Anh Tuấn, senior expert on energy from the Việt Nam Energy magazine at a seminar on Wednesday. Focusing on the economical use of energy, the event gathered experts in the field to discuss energy transition, renewable energy, and the solutions to ensure electricity supply during the summer months in Việt Nam. Elaborating on Tuấn’s point of view, director of the Centre for Energy and Green Growth Research (CEGR) Hà Đăng Sơn said: “Saving and using energy efficiently is the only way to go to achieve COP26 commitments and energy transformation. … [Read more...] about Việt Nam has huge potential for saving energy: experts

In her speech at the May 17 event, Deputy Minister of Labor, Invalids, and Social Affairs Nguyen Thi Ha introduced solutions that the Vietnamese Government has been implementing to increase children’s access to education, as well as to reduce the risk of school dropping out and child labor. The official said 94.4 percent of child population in Vietnam has gained access to education thanks to policies designed for the purpose implemented in parallel with those for social welfare and poverty reduction. Many models and solutions, including those supporting children at risk of labor exploitation to access vocational training, have been rolled out via Government- and international-funded projects, she added. The deputy minister also talked about Vietnam’s experience in ensuring education throughout the period of COVID-19 pandemic and in bringing children back to school after social distancing measures were lifted. Vietnam will continue to act and look forward to receiving stronger … [Read more...] about Vietnam shares experience in increasing children’s access to education

As many as 400 lifebuoys are being placed at some bridges crossing the Red River for rescue work. A lifebuoy is placed at Long Bien Bridge The programme was carried out by the Kham Pha (Discovery) Swimming Club which plans to place 400 lifebuoys at bridges crossing the Red River in 10 northern provinces. Head of the club, Nguyen Ngoc Khanh said that they started the programme on May 6 and was intended to help save drowning people. "There have been many drownings in the Red River," Khanh said. "Some of them fell into the river in accidents, while some others committed suicide by jumping off the bridges. We believe that the lifebuoys could help save people." Khanh said that they have so far installed over 100 lifebuoys in the provinces of Lao Cai, Yen Bai, Tuyen Quang, and Hanoi. In Hanoi, they placed 33 lifebuoys at Thang Long, Nhat Tan, Long Bien, Chuong Duong, Vinh Tuy, and Thanh Tri bridges. “All the lifebuoys were neatly tied to the bridge … [Read more...] about Lifebuoys available for rescue work on Red River

Japan's Nuclear Regulation Authority (NRA) granted an initial approval on Wednesday for a Tokyo Electric Power's (Tepco) plan for releasing water from the destroyed Fukushima nuclear power plant into sea, citing there are no safety issues. The NRA plans to make a decision on final approval after a one-month public comment period, an official at NRA said, who deals with the issue. In 2021, the Japanese government approved the release of over 1 million tonnes of irradiated water from the site after treatment into the ocean, starting around spring 2023. The announcement provoked concerns from local fishermen and objections from neighbouring China and South Korea. Tepco plans to filter the contaminated water to remove isotopes, leaving only tritium, a radioactive isotope of hydrogen hard to separate from water. Tepco will then dilute the water until tritium levels fall less than 1/40th of regulatory limits, before pumping it into the ocean. Even after the NRA's approval, Tepco, … [Read more...] about Japan nuclear regulator grants initial nod to Fukushima water release plan

According to a Wednesday announcement, the Party's Central Inspection Committee proposed to the Politburo, the Party's decision-making body, to consider disciplinary actions for the Party Committee of the Ministry of Science and Technology during the 2016-2021 period, the Party Committee of the Ministry of Health during the 2016-2021 period, Hanoi chairman Chu Ngoc Anh who served as the science minister during the period, and health minister Nguyen Thanh Long. Deputy health minister Nguyen Truong Son, head of the National Institute of Hygiene and Epidemiology Dang Duc Anh and deputy science minister Pham Cong Tac received warnings. Deputy health minister Do Xuan Tuyen and chief inspector of the health ministry Nguyen Manh Cuong were reprimanded. There are four levels of disciplinary actions for Party members: reprimand, warning, expulsion and demotion. Previously in March, the Central Inspection Committee said the Party Committee and officials of the health ministry for the … [Read more...] about Hanoi chairman, health minister face disciplinary actions over Covid test kit scam

A farmer harvests sugarcanes in Tuyên Quang Province. Photo qdnd.vn HÀ NỘI — After the Vietnamese imposition of anti-dumping and anti-subsidy duties, the volume of Thai sugar imported to Việt Nam hit a four-year low in Q1 of 2022, speeding up the recovery of domestic sugar. Thailand exported 199,780 tonnes of sugar to Việt Nam in Q1 of 2021. On June 15, 2021, the Vietnamese Ministry of Industry and Trade began to apply trade remedies to the commodity, driving down the figure to just 33,682 tonnes in Q1 of 2022. The decline of Thai sugar has given a boost to domestic production. The Vietnam Sugar and Sugarcane Association (VSSA) reported that 6.4 million tonnes of sugarcane had been pressed by late April to produce 662,530 tonnes of sugar, up 5.1 per cent year-on-year. Domestic producers also saw better profits. Specifically, the leading firm in the industry, Thành Thành Công-Biên Hòa JSC, made an after-tax profit of VNĐ648 billion (US$28.3 million) between July 2021 to March … [Read more...] about Trade remedies to Thai sugar boost domestic recovery

Speakers at a conference discuss how improving institutional performance can help Việt Nam achieve its target of reaching high-income status in 2045. — VNA/VNS Photo HÀ NỘI — Việt Nam must seek to adapt its economic growth model while drastically improving the Government's capacity to coordinate and implement economic policy reforms and public investments to realise its objective of reaching high-income status by 2045, said a recent World Bank (WB) report. The report emphasises the major challenges faced by Việt Nam's traditional growth model during the COVID-19 pandemic, slowing globalisation and the Southeast Asian economy's increasing vulnerability to external shocks, especially climate risks. The key to addressing said issues, according to WB, is for the country's institutions to adapt and improve. “Việt Nam's GDP per capita has increased fivefold over the past three decades, while its institutions have not adapted at the same speed since the Đổi Mới (Renewal) course of … [Read more...] about Institutional reforms key to reaching high-income status