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The practical program aims to create a chance for troops to exchange as well as to evaluate training quality and sports activities among its affiliated units. In addition, it also contributes to raising training quality and the organization of training and sports activities at all levels, meeting task requirements in the current context. Via the festival, the organizing board will select outstanding athletes to take part in other festivals in the whole military. This year’s event draws the participation of 450 athletes from 23 units. They compete in tennis and volleyball contents. Addressing the event, Senior Colonel Nguyen Van Dai, Deputy Director of the Department of Logistics under the General Staff, requested functional units to ensure all conditions for the participants during the contest, conduct the festival as scheduled with absolute safety. Meanwhile, they should also make thorough preparations for the festival while observing military discipline. Referees were also … [Read more...] about VPA’s General Staff launches sports festival in 2022

The city plans to raise the cultural industry’s contribution to GRDP to 5% by 2025 and 8% by 2030. From now to 2025, Hanoi will focus its efforts on boosting a number of cultural industries in line with local advantages and potential, including cultural tourism, handicraft, performing arts, cinema, designing, culinary, entertainment software and games, advertising, architecture, photography and exhibition, fashion, television and radio and publishing. By the end of this decade, the capital also sets to turn the cultural industry into a key economic sector driving the others’ growth. This will lay foundation for the capital city to improve local living standards; sustainably, harmoniously and comprehensively boost the economic, cultural and social development; turn itself into a globally-connected, civilized, modern and creative city by 2045. The municipal People’s Committee has asked its departments and units to raise awareness of the cultural industry among their staff, build … [Read more...] about Cultural industry to contribute to 10% of Hanoi’s GRDP by 2045

* Military Region 4 (MR4) held the tenth congress of the Ho Chi Minh Communist Youth Union for the 2022-2027 tenure in Vinh city, Nghe An province. According to a report delivered at the congress, over the past five years, under the leadership and directions of the Military Region 4 Command and the Department of Political Affairs, MR4 has carried out youth programs and movements in an effective and comprehensive manner, achieving all set targets, implementing the five-year action program (2017-2022), building a strong military region, and meeting the requirements of military-defense missions in the new situation, among others. In the next five years, MR4 will further promote youth union’s activities and youth movements to build a healthy and strong Youth Union organization, a comprehensively strong, “exemplary and typical” unit, and improve the efficiency of coordination activities with other agencies and units. At the congress, the participants elected 17 delegates to … [Read more...] about Military units hold Youth Union Congress

An additional 2,814 more Covid-19 infections were confirmed in Vietnam on Tuesday while the country reported three deaths relating to the disease, according to the Ministry of Health. Illustrative photo According to the ministry's report, the national caseload has so far increased to 11,373,276. On August 17, an additional 5,298 more patients recovered from the disease, raising the number of recoveries in the country to over 10.04 million. On Wednesday evening, three deaths from Covid-19 were recorded, raising the country's total fatalities to 43,103, accounting for 0.4 per cent of total infections. By August 17, the country had injected more than 252 million doses of Covid-19 vaccines. Vietnam has not yet drafted plans to give Covid-19 vaccines to children under five years old. The country is targeting the completion of Covid-19 inoculation for children aged between 5 - 11 in August, as well as the administration of the third shot for those aged 12 - … [Read more...] about Additional 2,814 new Covid-19 cases confirmed on Wednesday, three deaths

TTC Phong Dien solar power plant invested by GEC. — Photo geccom.vn JERA Inc., a power generation company of Japan, has signed a deal to buy a 35.1 per cent stake at Viet Nam’s Gia Lai Electricity Joint Stock Company (GEC) to tap the Southeast Asian nation's growing demand for electricity and further its own decarbonisation efforts, Nikkei Asia reported. JERA, a joint venture between Tokyo Electric Power and Chubu Electric Power, will invest 15 billion JPY (US$112 million) in the Vietnamese renewable energy company. The purchase comes as JERA aims to increase its renewables generation capacity to 5,000 MW by 2025. The stake in GEC will add 190 MW, bringing the company's total renewables capacity to 1,900 MW. JERA will also consider jointly developing solar and onshore wind projects with GEC. JERA has already participated in renewable energy projects across Asia, including India and Thailand. It has operated a gas-fired power plant in Viet Nam since 2005. GEC owns hydro, … [Read more...] about Japanese firm buys 35.1 per cent stake in Viet Nam’s power company

Piles of VND100.000 bank notes. — EastAsia forum/VNA Photo Banks must tighten their assessment controls of corporate bond investments to avoid excessive risk and the misuse of funds raised by firms, experts said. In early April, the Banking Supervision Agency, under the State Bank of Vietnam (SBV) conducted an inspection of corporate bond investment activities at seven banks, while the Ministry of Finance inspected one bank. According to the SBV, by the end of 2021, there are 41 credit institutions holding VND274 trillion (US$11.7 billion) of corporate bonds, of which more than 75 per cent of them are held by ten major banks - Techcombank, MBBank, VPBank, TPBank, BIDV, Vietcombank, VietinBank, HDBank, ABBank and SeABank. At some banks, the value of corporate bonds exceeds 10 per cent of total assets. Although the inspection results were not published, a SBV senior leader said in an interview with Vietnam Investment Review that a number of credit institutions failed to … [Read more...] about Banks should tighten assessment controls of their corporate bonds investments – experts