Seek 2018 conference

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency. - Vietnamese Ambassador to Singapore Mai Phuoc Dung has highlighted the significance of Prime Minister Pham Minh Chinh’s coming official visit to the city state, the first among many events to be held in both countries to mark the 50th anniversary of their diplomatic ties and 10 years of the strategic partnership. PM Chinh, his spouse, and a high-ranking delegation of Vietnam are paying an official visit to Singapore from February 8 to 10. Read full story - Two-way trade revenue between Vietnam and Laos in 2022 grew 24% from the previous year to reach some 1.7 billion USD, beyond expectations of their leaders at the 44th meeting of the Vietnam – Laos Inter-Governmental Committee on Bilateral Cooperation earlier last year. Read full story - Jeju Air Co., the biggest low-cost carrier of the Republic of Korea, said on February 6 that it will resume many routes to Vietnam … [Read more...] about ☕ Afternoon briefing on February 6

Workers of Viet Nam Electricity check the transmission system. The bracket of average electricity retail prices has been increased to VND1,826.22 per kWh for the floor price and 2,444.09 for the ceiling price. — VNA/VNS Photo Huy Hung The bracket of average electricity retail prices has been increased to VND1,826.22 per kWh for the floor price and 2,444.09 for the ceiling price, according to the Prime Minister’s Decision No 02/2023/QD-TTg dated on February 3. Compared to the previous bracket, which has been applied since 2017, the floor price increased by VND220 and the ceiling price by VND538 per kWh. The adjustment of the bracket would not immediately impact prices. The bracket and the inspection results of the electricity production and business costs in 2022 would be the base for the Ministry of Industry to decide on the average electricity retail price for this year. The Ministry of Industry and Trade recently urged Viet Nam Electricity (EVN) to urgently complete the … [Read more...] about Average electricity retail price bracket increases

The conference touched upon the implementation of the Government’s action plan to materialize the Politburo’s Resolution No.26-NQ/TW dated November 3, 2022 on orientations for socio-economic development and national defense and security in the two regions by 2030 with a vision towards 2045. It was also intended to promote investment in the regions with the theme of “Linkage - Breakthroughs from maritime economy - Rapid, sustainable development.” The regions hold strategic positions and roles of special significance in terms of economy, especially maritime economy, politics, culture, social affairs, environment, external relations, national defense and security, as well as sea and island sovereignty, the Prime Minister pointed out. Notably, they are home to five cultural and natural heritage sites, and six intangible cultural heritage elements recognized by UNESCO, he said. The leader, however, expressed his concern that such unique potential and competitive advantages have yet to … [Read more...] about Prime Minister asks north-central, central coastal regions to create development breakthroughs

Inflationary pressure for Vietnam's economy in 2023 is high and comes from many factors, he said in an interview with the Vietnam News Agency (VNA). The demand-pull and cost-push inflation will put pressure on the country's efforts to control inflation amid surging demand and strengthening of the U.S. dollar which yields increased import prices. Demand for petrol and electricity – the two important commodities for production and consumption – will increase in 2023. The domestic electricity price has been kept unchanged for the past few years, while the price of coal and gas used in the production of electricity has increased, he said, noting that thermal and gas power account for a large proportion of the total generated electricity. Therefore, it is forecasted that the Government may raise the price of electricity this year. A hike in electricity prices will put pressure on inflation by increasing production costs and consumer spending, and at the same time reducing economic … [Read more...] about Vietnam faces inflationary pressure in 2023: expert

According to chairman of the Vietnam Real Estate Brokers Association Nguyen Van Dinh, Vietnam’s real estate market is not repeating the crisis cycle which occurred in 2012. Varying factors to determine the fate of real estate, photo baodautu.vn “Currently, urban development is high and infrastructure investment is taking place strongly, along with the rocketing increase demand for housing. So the demand for investment in real estate is rather high. These are the factors that create a great motivation for the market’s ability to recover,” Dinh told VIR. Banking and finance expert Can Van Luc added that the market will be revived by the end of the year. “When banks have new credit room, real estate will see more transactions from homebuyers. Real demand is expected to be a bright spot during the year,” Luc said at a forum on forecasting the real estate market organised by the Vietnam Real Estate Association in Hanoi on January 3. Do Thu Hang, senior director of … [Read more...] about Varying factors to determine the fate of real estate

The conference featured Prime Minister Pham Minh Chinh, and top government officials, including minister of Planning and Investment Nguyen Chi Dung and minister of Industry and Trade Nguyen Hong Dien. The 2.2GW Son My 2 CCGT power plant will be located in Binh Thuan province. The $1.8 billion plant will have a 20-year contract with the Vietnamese government. Speaking at the conference, Joseph Uddo, president of AES Vietnam said, “The investment policy for Son My 2 CCGT power plant marks a significant milestone enabling us to move ahead with the project. “We are honoured to receive the approval in this significant event today on the action plan to implement Resolution No. 26-NQ/TW of the Politburo, recognising the importance of the power plant project in ensuring energy security, promoting international investment and the socioeconomic development of Vietnam.” Son My 2 complements AES’ investment plans in gas infrastructure in the country and the … [Read more...] about AES receives investment policy for Son My power plant

Hanoi (VNA) - The following is a list of selected news summaries last weekend by the Vietnam News Agency. - Prime Minister Pham Minh Chinh urged the north-central and central coastal regions to create more breakthroughs in development to match their potential and advantages while addressing a conference in Quy Nhon city, Binh Dinh province, on February 5. The conference touched upon the implementation of the Government’s action plan to materialise the Politburo’s Resolution No. 26-NQ/TW dated November 3, 2022 on orientations for socio-economic development and national defence and security in the two regions by 2030 with a vision towards 2045. It was also intended to promote investment in the regions with the theme of “Linkage - Breakthroughs from maritime economy - Rapid, sustainable development.” Read full story - A Vietnamese delegation led by Deputy Minister of Culture, Sports and Tourism Doan Van Viet attended the 22nd ASEAN Plus Three Tourism Ministers Meeting in … [Read more...] about ☀️ Morning digest February 6

Images showing the e-wallet market by share of active users by Robocash Group. (Photo courtesy of Robocash Group) HCM City (VNS/VNA) - The modern e-wallet market in Vietnam is surging and is expected to reach 50 million active users by July 2024, experts said. In a report, Robocash Group said: “the modern e-wallet market in Vietnam is booming with 90% of the market falling on three wallets: Momo, Moca and ZaloPay.” The country is seeing tough competition, given that there are 40 electronic wallets in operation, the report said. Robocash Group estimates that by July 2024, the e-wallet market will have 50 million active users, 100 million by May 2026, and 150 million by July 2030. In addition to the already mentioned wallets, there are three other major competitors including ShopeePay (AirPay), ViettelPay and VNPT Pay. The top six already account for 99% of the market. According to a Decision Lab study, at the end of 2021, 56% of the Vietnamese population … [Read more...] about E-wallet market in Vietnam estimated to reach 50 million users by 2024

The Ho Chi Minh City Department of Culture and Sports has approved the organization of the Miss National Vietnam 2023 beauty pageant, which is scheduled to take place until the end of the year. The organizer, Golden Lotus Advertising Commercial JSC, announced the inception of the annual contest at a press conference on Sunday evening. Luong Thuy Linh (L), Miss World Vietnam 2019, Le Nguyen Bao Ngoc (C), Miss Intercontinental 2022, and Nguyen Thu Thuy Tien, Miss Grand International 2021, are introduced as the ambassadors of the Miss National Vietnam 2023 beauty pageant, February 5, 2023. Photo: Hoai Phuong / Tuoi Tre The preliminary round began last month and will last until August. The semifinal will take place in September while the finale is slated for November and December with the participation of 63 contestants. Nguyen Thuc Thuy Tien, Miss Grand International 2021, attends the press conference for the Miss National Vietnam 2023 beauty pageant, … [Read more...] about Vietnam introduces new beauty pageant

Some food and beverage products from a cooperative in Ben Tre Province attract consumers.— Photo vnbusiness.vn After the Lunar New Year holiday, many cooperatives, especially those in the food and beverage (F&B) sector, have accelerated their production to fulfil domestic and export orders. Ly Hong Tien, Director of Hau Giang Xanh Cooperative in Hau Giang Province, told vnbusiness.vn that thanks to the links her cooperative has established with distributors, it was completing many orders of processed that lat fish to serve local demand and that for exports. According to experts, though economic difficulties would continue in 2023, there remained untapped business opportunities for small firms and cooperatives in the F&B industry. Experts said that when an economy was unstable, investors intended to return to industries with high demand as the F&B sector is an essential industry. A recent report by iPOS.vn said that Viet Nam had around 338,600 restaurants and … [Read more...] about Food and beverage cooperatives seize new opportunities amid economic difficulties