Salary growth

Illustrative photo. (Photo: AFP/VNA) mô tả cho ảnh Jakarta (VNA) – ASEAN has sufficient resources to become a centre of world economic growth with a GDP reaching USD 3.36 trillion in 2021 and a population of 650 million people, Indonesia’s Coordinating Minister for Economic Affairs Airlangga Hartarto said on March 15. ASEAN chair this year set 16 Priority Economic Deliverables (PED) which are divided into three strategic drives including recovery-rebuilding, digital economy, and sustainability. Indonesia also aims to promote sustainable regional development through the ASEAN - Indo-Pacific Forum (AIPF) in which, the public and private sectors will be invited to participate in projects in the region to support green infrastructure, strengthened supply chains, digital transformation, and creative economy, as well as innovative and sustainable finance./. VNA … [Read more...] about Indonesia drives ASEAN to become centre of world economic growth

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

Fishermen in Giao Thuy District, Nam Dinh Province. The business community played an important role in fostering green growth. — VNA/VNS Photo Huy Hung It is critical to promote the role of the business community in partnership with the Government of Viet Nam in fostering green growth, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said at the technical session of the Vietnam Business Forum (VBF) on Friday. Green growth and sustainable development have been identified as one of the focuses in the development policies of many countries around the world in recent years, Ngoc said, adding that Viet Nam was one among the pioneering countries in the region to approach the green growth model. The Government’s national green growth strategy and the national action plan about green growth in the 2021-30 period set the goals of restructuring the economy in line with renovating the growth model to achieve economic prosperity, environmental sustainability and social … [Read more...] about Firms play an important role in fostering green growth

Vietnam is the second fastest-growing digital economy in the world, following India, and has the fastest e-commerce growth in Southeast Asia, Vietnamese Deputy Prime Minister Tran Luu Quang said at the Vietnam Connect Forum 2023 held in Da Nang on Friday. According to the deputy prime minister, Vietnam has recorded an average digital economy growth rate of 38 percent per year over the past few years. The nation’s digital economy was valued at some US$23 billion last year. According to Google and Temasek, the value of Vietnam’s digital economy may reach $49 billion by 2025 and $120-200 billion by 2030. Meanwhile, the Vietnamese Ministry of Industry and Trade informed that Vietnam’s retail e commerce revenue in 2022 grew 20 percent year on year to hit $16.4 billion, making up 7.5 percent of the country’s total retail sales of consumer goods and services, news site Vietnamplus reported. Deputy PM Quang said boosting innovation is the top priority of countries to recover and … [Read more...] about Vietnam reports fastest e-commerce growth in SE Asia: Deputy PM

Prime Minister Pham Minh Chinh (front row, fourth from right) with delegates from international organisations and business associations at the event. — VNA/VNS Photo Duong Giang The Vietnamese Government is committed to creating favourable conditions for businesses to develop, Prime Minister Pham Minh Chinh said at the Annual Viet Nam Business Forum held in Ha Noi on Sunday. It would continue to perfect mechanisms and policies to create a favourable and equal business environment, improve national competitiveness, remove difficulties for enterprises and increase transparency and equality in access to resources. Top priority would also be given to cutting costs for businesses and synchronously and effectively deploying policies to support firms in capital, technology transfer, training and human resource development. Viet Nam would also develop all kinds of markets, including goods and services, finance-currency, securities, real estate, science- technology, labour and public … [Read more...] about Viet Nam vows to faciliate businesses towards green growth, says PM

PM Pham Minh Chinh chairing the VBF 2023, highlighting the role of the business community in fostering green growth in Vietnam. Photo: Nhat Bac The high-level session of the Vietnam Business Forum (VBF) took place today on March 19, chaired by Prime Minister Pham Minh Chinh. With the theme “Business community in partnership with the government in fostering green growth,” the VBF also marked its 25 th anniversary. At the opening of the forum, Minister of Planning and Investment Nguyen Chi Dung highlighted that economic recovery and development in the direction of green and sustainable growth was a top priority for every country. The common goal is to achieve economic prosperity, environmental sustainability and social equity; towards a green and carbon-neutral economy while contributing to limiting global temperature rises. "For Vietnam, green growth is not only an inevitable choice but also an opportunity to become a pioneer in the region, catching up with the … [Read more...] about Vietnam aims to lead region’s development on green growth

Coordinating Minister for Economic Affairs Airlangga Hartarto (Source: indonesia .postsen.com) Jakarta (VNA) - The Indonesian Government is committed to promoting inclusive and sustainable growth not only in the country, but also in the Indo-Pacific and ASEAN regions, according to Coordinating Minister for Economic Affairs Airlangga Hartarto. This commitment is manifested in Indonesia's efforts to establish good relations and strengthen economic cooperation both bilaterally and multilaterally, including its involvement in the Indo-Pacific Economic Framework for Prosperity (IPEF). Speaking at the Indo-Pacific Chamber of Commerce and Industry Business Forum in Nusa Dua Bali on March 18, Airlangga said that IPEF partners are united by a vision to innovate and bring new ideas to foster cross-border trade as well as cooperation in existing approaches. Stressing that the Indo-Pacific region is a driver of the world’s economic growth, he said the proactive engagement … [Read more...] about Indonesia pledges to boost inclusive growth in Indo-Pacific region

Hanoi's goal for 2023 is to secure the city's socio-economic performance and further develop a cultured, modern, and civilized society. Hanoi aims to constantly improve the leadership of the Party Committee and the sense of responsibility of government officials and Party members, especially the heads of government agencies, to fulfill all the socio-economic growth tasks set for 2023. Dinh Tien Dung, Member of the Politburo and Secretary of the Hanoi Party Committee, talks to Nhan Dan (People) newspaper about the plans and actions the city expects to carry out on the occasion of the 93rd anniversary of the founding of the Hanoi Party Committee. Dinh Tien Dung, Member of the Politburo and Secretary of the Hanoi Party Committee. Photo: The Hanoi Times As head of the Hanoi Party Committee, could you share some of Hanoi's achievements in the first half of 2020-2025? Hanoi has endured many international impacts in the past two and a half … [Read more...] about Innovation-centered approach boosts Hanoi’s performance in socio-economic growth

It had grown at 14.5% last year. Ninh, who runs a cargo transport firm, said the scale of his operation has fallen by 40-50% in the last two years. He has not borrowed from a bank also because lending interest rates are high, he said. "We can’t be profitable at an interest rate of 10-12%. We have to sell off assets to reduce debts." His customers have also had to change their production plans and import smaller volumes of goods and get loans for shorter terms, he said. "Everything is slowing down." For individuals, high interest rates are also a big barrier. Thanh Tung, a credit officer at a leading private bank in Hanoi, said many people who had want to borrow become reluctant after knowing that interest rates are currently 13-14% and even higher in some cases. The CEO of a private bank said: "Since the beginning of 2023 few people have taken home loans." The rates make people hesitant about borrowing to fund real estate purchases unless they urgently need a home to live … [Read more...] about Bank credit growth expected to slow down in 2023

High pedestal to reach for 2023’s growth ambitions Vietnam’s economic growth is projected to ease to 6.3 per cent in 2023 from a robust 8.02 per cent last year, as services growth moderates and higher prices and interest rates weigh on households and investors, according to the World Bank’s latest Taking Stock report released last week. Growth is expected to pick up to 6.5 per cent in 2024 as the economies of Vietnam’s main export markets gain strength, the report said. The outlook for Vietnam reflects heightened uncertainty in the global economy. Downside risks include weaker-than-expected growth in Vietnam’s major export markets, which include the United States, China, and the Eurozone, tightening financial conditions, higher domestic inflation, weaknesses in the balance sheets of corporate, banking and household sectors, and financial sector vulnerabilities. The Vietnamese government has set a target that GDP will increase 5.6 per cent in Q1, 6.7 per cent in Q2, 6.5 per … [Read more...] about High pedestal to reach for 2023’s growth ambitions