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The Consulate General of India in Ho Chi Minh City will team up with the Vietnam Yoga Federation to roll out the 2023 International Yoga Day in 22 provinces and cities in Vietnam’s southern region at the end of June. This edition will be the biggest ever since the yoga fest was first launched in the Southeast Asian nation in 2015, Consul General of India in Ho Chi Minh City Madan Mohan Sethi told a press briefing on Tuesday. The yoga event is part of a wide range of cultural exchange, tourism, trade, and investment promotion events to mark 50 years of diplomatic ties between Vietnam and India, said the consul general. Speaking at the press conference, Sethi affirmed that Vietnam plays an important role in India’s Act East Policy, an effort by the Indian government to cultivate extensive economic and strategic relations with Southeast Asia. India strongly believes in Vietnam’s support, he added. “Both India and Vietnam see mutual respect and trust as the pivot of long-lasting … [Read more...] about Int’l Yoga Day to take place in 22 localities across Vietnam in late June

Business practices are not sustainable if they do not take account of their impact on children, said a UNICEF Vietnam representative at a child rights and business forum held on Tuesday in Hanoi. The forum, co-held by UNICEF Vietnam and the Vietnam Chamber of Commerce and Industry (VCCI), underlined the need for responsible business practices that respect child rights and prevent adverse human rights impacts. Speaking at the event, Rana Flowers, representative of UNICEF in Vietnam, said that children, whom she described as the present and the future, should be a key consideration in Environmental, Social, and Governance (ESG) assessments. Businesses should assess impacts and risks objectively, and identify key practices that can minimize those risks and create a positive impact on children. In doing so, businesses will be able to enhance their competitiveness and sustainability and win the support of stakeholders, especially investors, who are socially conscious and looking at … [Read more...] about Children should be key consideration in ESG assessments: UNICEF Vietnam expert

Hotel supply in Vietnam has tripled over the past decade, photo Le Toan According to a report by DKRA Vietnam, the supply of villas and town houses across the country continued to decrease from the end of the second quarter of 2022. Specifically, in April only two projects were opened for sale, providing 12 apartments to the market, down 69 per cent from the previous month and down 98 per cent compared to the same period last year. Particularly, the Central region recorded the fourth consecutive month that no new projects were introduced to the market. “It is expected that in the next few months, supply and demand may increase slightly. However, the market will not have obvious fluctuations with key transactions, except from expected transactions on Phu Quoc island,” according to DKRA’s report. The primary selling price did not alter greatly compared to the previous month. Instead, investors have aggressively launched discounts up to 30-40 per cent to stimulate market … [Read more...] about Second home real estate on the slow path to recovery

Vietnam’s long-awaited Power Development Plan VIII (PDP8), confirmed in mid-May, is a milestone in the country’s journey towards energy transition. The main objective of the legislation is to achieve energy security for Vietnam, progressing on its climate change commitments towards the middle of this century, and more specifically to export 5,000-10,000MW of power by 2030. Towards these goals, the PDP8 proposes a new energy mix with a substantial reliance on renewables and the development of smart transmission grids to support the renewables industry, including connecting the power grids with neighbouring countries. “We appreciate the government for the approval of the PDP8, as it provides a clear path to the completion of the grid interconnection, which is critical for us and Electricity of Vietnam (EVN) to complete agreement on the tariff and schedule of the power purchase agreement (PPA). We target completion of the PPA in Q4 of 2023 in order to break ground in 2024,” said Ian … [Read more...] about Power overhaul plan picks up steam

The Department of Industry and Trade of Ho Chi Minh City has said it will join hands with cross-border e-commerce platforms to support local exporters in shipping products to the world on a larger scale and in a more professional way. This is among the solutions that the city will adopt this year to help Vietnamese enterprises overcome difficulties and foster industrial production, trade, and green export. Enhancing business via online and digital channels will help exporting enterprises reduce costs and access customers faster, said Nguyen Nguyen Phuong, deputy director of the municipal Department of Industry and Trade. The department has worked with many e-commerce platforms and service providers to come up with support solutions, Phuong noted. Enterprises also need to take the initiative in cooperating with partners to better meet the requirements in importing markets. Huynh Kim Tuoc, co-chairman of the Digital Economy and Technology Committee under the American … [Read more...] about Ho Chi Minh City to boost online exports

Speaking at a May 19 conference on plans to develop one million social houses for lower-income people and workers by 2030, Minister of Construction Le Thanh Nghi said that the ministry would coordinate with authorities to ensure it achieved its social housing targets. The ministry (MoC) has completed the draft amended Law on Housing, which has been approved by the government and submitted to the National Assembly for approval. It is hoped that the amended law will draw policies for social housing development and take effect from 2024, including planning and reserving land for social housing development, selection of project investors, and procedures for implementation. As of Q1 2023, Vietnam has completed just over 300 social housing projects in urban areas and worker housing projects in industrial zones (IZs), with nearly 156,000 units in total. About 400 projects are still planned to be built, with a total scale of 454,000 apartments. However, demand has not been fully met. … [Read more...] about Investors wanted for social housing efforts

Building high-tech agricultural models, integrating production chains, connecting regions, and establishing processing facilities for export are all necessary for agricultural production in Hanoi. Hanoi is poised to become a center for processed goods for export, said Hoang Thi Hoa, director of the Hanoi Agriculture Development Center under the Hanoi Department of Agriculture and Rural Development, in an interview with Hanoimoi newspaper. Clean farm production at Japan & Vietnam Vegetable Fruit Company. Photo: Phuong Nga/ The Hanoi Times How do you assess the current prospects of Hanoi's agricultural exports? Based on its relatively large arable land , Hanoi is building a modern agriculture sector by applying advanced digital technology to create quality products that meet consumer and export needs. Over the years, Hanoi has promoted importing several items, including fruits, wood and wood products, and some processed goods. Specifically, … [Read more...] about Hanoi to become processed goods export hub