The Ho Chi Minh City Department of Construction proposed on Tuesday an allocation of VND500 billion (US$21.37 million) from the municipal budget for the renovation of 246 old, run-down apartment buildings in the southern metropolis. The proposal was made during a meeting reviewing the implementation of the Housing Law in the city in the 2016-21 period. The construction department’s deputy director Huynh Thanh Khiet reported that the agency has just completed the inspection, review, classification, and quality control process at 474 old apartment buildings constructed before 1975. The department relocated 982 households living at 19 of those apartment buildings and dismantled ten others with a total floor area of 123,211.4 square meters. The agency also repaired about half of the remaining buildings while the other half needs further investment, Khiet said. Therefore, the department has sought the municipal administration’s approval for an allocation of VND500 billion to … [Read more...] about Ho Chi Minh City needs over $21mn to renovate nearly 250 old apartment buildings
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Play-to-earn games struggle to retain interest
"I am tired of this game. Its token value is plunging and there is no sign of recovery," said Tuan Anh, an Axie Infinity player in Ho Chi Minh City. Smooth Love Potion (SLP), the in-game digital currency of the popular blockchain game Axie Infinity, has fallen nearly 97% from its peak in May 2021 to $0.004989. Questions about whether to hold or sell SLP have been popping up recently on Axie Infinity player groups in Vietnam. "I left the game two months ago. I still have some SLP left and was wondering whether to sell now at a cheap price or hold on until it recovers," one former player posted. Axie Infinty, a global blockchain project developed by a Vietnamese studio, had 2.7 million monthly active players in January, but the figure had dropped 72% since to 766,800 in July, according to game data platform ActivePlayer. The move-to-earn game StepN, which rewards players with cryptocurrency tokens when they run or walk outdoors, has seen a 75% plunge in the number of … [Read more...] about Play-to-earn games struggle to retain interest
☀️ Morning digest August 10
Hanoi, (VNA) - The following is a list of selected news summaries last night by Vietnam News Agency. - President Nguyen Xuan Phuc hosted a reception in Hanoi on August 9 for Lt. Gen. Hun Manet, Deputy Commander-in-Chief of the Royal Cambodian Armed Forces (RCAF) and Commander of the Royal Cambodian Army. The President expressed his hope that Hun Manet’s visit will significantly contribute to the success of the Vietnam-Cambodia Friendship Year 2022 marking the 55th anniversary of the bilateral diplomatic ties (June 24, 1967). Read full story - The same day, Politburo member and permanent member of the Secretariat of the Communist Party of Vietnam (CPV)’s Central Committee Vo Van Thuong also received Hun Manet, who is also a member of the Standing Committee of the Cambodian People’s Party (CPP) Central Committee. Hun Manet said Cambodia will forever maintain and nurture its friendship with Vietnam and strengthen the bilateral partnership to develop amidst the complex global … [Read more...] about ☀️ Morning digest August 10
New finance instruments in play for climate future
McKinsey and Company on August 3 released the report “Can Vietnamese banks seize the green bond opportunity?”, which analyses the preconditions leading to the growth of green-bond markets and urges Vietnamese banks to take timely action to reap the rewards from this segment. New solutions in green finance are crucial because the climate transition is accelerating, Photo: Shutterstock The report indicates that the demand for financing of projects with environmental benefits in Vietnam has grown year by year, totalling more than $10 billion annually from 2018 to 2020 and $21 billion in 2021. This increase is forecasted to continue, based on market momentum, Vietnam’s latest draft of Power Development Plan VIII, and the country’s net-zero commitments. Finance-wise, McKinsey estimates that issuing bonds for environmental, social, and governance (ESG) projects may bring Vietnam’s financial institutions roughly $1.7 billion in revenue by 2025, with $1.5 billion coming from … [Read more...] about New finance instruments in play for climate future
Economic recovery drives hiring in H2/2022
A positive economic outlook gives employers in Vietnam confidence to increase recruitment in the second half of 2022, though not as high as the previous six-month period. The hiring intentions of Vietnam’s employers are estimated to increase in the second half of 2022, as positive growth rates are reported in various sectors. Remarkable economic recovery drives hiring intentions in H2/2022. Photo: Nguyen Viet Thanh/ILO Vietnam This forecast was announced in the Vietnam Employment Outlook Survey Q3 & Q4 2022 by ManpowerGroup Vietnam. About 88% of the surveyed enterprises plan to increase or at least maintain the current headcounts as compared to 95% of the equivalent index in the first half of 2022. The strongest recruitment intentions were reported in Manufacturing & Processing, Wholesale, Retail & Trading, Banking & Finance, Professional Consulting Services, Construction, Food & Beverage & Hospitality - Accommodation and Real Estate. … [Read more...] about Economic recovery drives hiring in H2/2022