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Last year, KinderWorld Vietnam was honoured to be awarded the Contribution to Corporate Social Responsibilities (CSR) Award by Hanoi People’s Committee. The company has been recognised for its effort in offering quality education opportunities to children from under-privileged socioeconomic backgrounds and professional development courses to local authority personnel. Over the years, KinderWorld’s total contribution to CSR efforts has exceeded $1 million. … [Read more...] about Two meaningful decades for KinderWorld across Vietnam

When EVFTA was about 10 days to become effective, the Copenhagen Infrastructure Partners (CIP) of Denmark, on behalf of the New Market Fund I, together with Asiapetro and Novasia Energy, signed a Memorandum of Understanding (MOU) with the People's Committee of Binh Thuan Province to develop La Gan offshore wind power projects. With an estimated total capital of US$10 billion, the project with a capacity of 3.5GW can enhance the position of Vietnam in the field of renewable energy in the world. And the successful cooperation between CIP, Asiapetro, Novasia Energy, and Binh Thuan in this project will be a foundation to attract other foreign investors to offshore wind power projects across the country. Earlier, Tesa announced that it would invest about 55 million euros, approximately $60.3 million, to open a high-tech adhesive factory specializing in serving for the electronics and automotive industries. According to the plan, Tesa will start production in 2023 with about 140 employees … [Read more...] about Opportunities to welcome high-quality FDI capital with EVFTA

Hanoi (VNA) – The EU-Vietnam Free Trade Agreement (EVFTA) strengthens EU economic links with Southeast Asia and will potentially contribute to its recovery after the coronavirus crisis, moderndiplomacy.eu quoted an EU official as saying in a story published on August 3. The EVFTA, which took effect on August 1, will not only ultimately scrap duties on 99 percent of all goods traded between the two sides but also make it easier for European companies to do business in Vietnam, according to the site. They will now be able to invest and pitch for government contracts with equal chances to their local competitors, it said. Under the new agreement, the economic benefits go hand in hand with guarantees of respect for labour rights, environment protection and the Paris Agreement on climate, through strong, legally binding and enforceable provisions on sustainable development. “The European economy needs now every opportunity to restore its strength after the crisis triggered by … [Read more...] about EVFTA expected to contribute to EU recovery after coronavirus crisis

Jakarta (VNA) – Indonesia is aiming to set up travel corridors with China and the United Arab Emirates (UAE) to help recover business activities which are seriously affected by the COVID-19 pandemic. During a virtual meeting, Indonesian Foreign Minister Retno Marsudi and her Chinese counterpart Wang Yi discussed a cooperation agreement to establish a travel corridor, which is hoped to be finalised soon. Essential travel activities in accordance with health protocols are expected to boost safe and effective economic activities between the two countries. Earlier, Indonesia and the UAE have agreed to establish a temporary safe travel corridor to facilitate travel between the two countries for essential business and commercial, diplomatic, and official purposes. This agreement is part of both countries’ efforts to contain COVID-19 and accelerate the economic recovery. The UAE is currently the country’s largest Middle Eastern investor, after pledging to pour … [Read more...] about Indonesia to set up travel corridors with China, UAE

Phnom Penh (VNA) – Cambodia could lose more than 15 percent of its international remittances this year under the worst-case scenario because of the COVID-19 pandemic, according to a report by the Asian Development Bank (ADB). Based on the country’s total remittances of 2.8 billion USD in 2019,  more than 420 million USD will not be sent home in 2020 – mostly from Thailand – because hundreds of thousands of workers have returned home. In its report on “COVID-19 Impact on International Migration, Remittance, and Recipient Households in Developing Asia”, the ADB said that the economic recession caused by COVID-19 threatens the job security and wellbeing of more than 91 million international migrants from Asia and the Pacific. Total remittances to Asia are expected to drop between 31.4 billion USD (baseline scenario) and 54.3 billion USD (worst-case scenario) this year, equivalent to 11.5 percent and 19.8 percent of money sent home, respectively, … [Read more...] about Remittances to Cambodia to plunge by millions of US dollars this year: ABD