Socio economic development indicators

Son stressed UNESCO’s important role in maintaining and consolidating peace, sustainable development and prosperity of countries worldwide, and in preserving and promoting heritage and cultural values of humankind in particular. Vietnam has worked to contribute to major UNESCO mechanisms to which it is a member such as the Executive Board, the Intergovernmental Committee for the Safeguarding of Intangible Cultural Heritage and the Convention for the Protection and Promotion of the Diversity of Cultural Expressions, he said. The minister noted that Vietnam always attaches importance to culture, considering it a spiritual foundation of the society, a target and momentum of national development. He appreciated the support of Assomo himself and the center for the recognition, conservation and promotion of cultural and natural heritage of Vietnam, saying he believes that the world heritage in Vietnam have significantly contributed to raising living standards of local residents as well … [Read more...] about Foreign Minister meets UNESCO World Heritage Center Director

Establishing industrial clusters is expected to meet the high demand for manufacturing space in localities while solving environmental problems in the community. Hanoi authorities started the construction of the Ninh So Phase 2 industrial cluster in Thuong Tin District on March 28. The groundbreaking ceremony of the project. Photo: Hanoimoi Newspaper The Ninh So industrial cluster has a total area of 76,476 square meters, with an investment capital of VND171 billion ($7.2 million) from Tan Dat Confitech JSC. The need for further expansion of the industrial cluster has increased thanks to local people's growing demand for production space. Speaking at the event, Mr. Nguyen Xuan Minh, Chairman of the Thuong Tin District People's Committee, said the new industrial cluster, together with the other two [Thang Loi and Tien Phong Phase 2 industrial clusters], would create thousands of jobs and raise people's living standards, contributing to the socio-economic … [Read more...] about Hanoi kicks off work on Ninh So-Phase 2 industrial cluster

At the reception, Ha highly valued JICA’s contribution to the implementation of Japan’s official development assistance (ODA) projects in Vietnam, saying JICA’s programs and projects in Vietnam have realized cooperation agreements between the two countries in a timely manner. The Vietnamese government and people are interested in and make efforts to effectively implement the Japanese ODA loans, the official affirmed. Currently, Japan is Vietnam’s biggest ODA supplier and has played a role in socio-economic development, poverty reduction, environmental improvement, and administrative management in Vietnamese ministries, agencies, and localities, Ha stressed. Recalling the Asia Zero Emission Community (AZEC) Ministerial Meeting in Tokyo held in Tokyo earlier this month which he attended, Ha said he had sidelines meetings with some Japanese leaders and parliamentarians to discuss ways to support Vietnam in just energy transition, carbon neutrality, and climate change response. … [Read more...] about Deputy PM lauds JICA’s contribution to Vietnam-Japan relations

Mang ethnic minority people, in the northern mountainous province of Son La, live in simple, makeshift tent-like structures made primarily from bamboo. (Photo: VNA) Hanoi (VNS/VNA) - People living in ethnic and mountainous areas have received a boost to improve their living conditions and infrastructure in their communities. Deputy Prime Minister Tran Luu Quang has approved a decision to assist residents to reclaim land, improve their houses and build new homes. It means funds from the state budget will be available to improve living conditions, pave roads, build markets, and install water supply facilities. The assistance is meant to help with the implementation of the national target programme on socio-economic development in ethnic minority and mountainous areas for the 2021-30 period, in the first phase from 2021 to 2025. A maximum of 40 million VND (nearly 1,700 USD) from the central budget will be provided for each household to carry out site clearance, prepare … [Read more...] about Government issues details on aid for ethnic minority housing, land reclamation

Authorities in Quang Nam Province, central Vietnam will spend VND210 billion (US$9 million) building an emergency embankment to deal with severe coastal erosion. The Quang Nam People's Committee announced its decision to build an emergency anti-erosion embankment at Cua Dai Beach, Hoi An City on Tuesday. The project aims to prevent coastal erosion and regenerate the beach along Cua Dai coastline. In addition, it will reduce damage caused by natural disasters and climate change, and create a driving force for local socio-economic recovery and development. The project includes the construction of an underground dike system with a length of about 550 meters to cushion the impact of waves. It will also regenerate a 1,450-meter beach. The project is estimated to cost VND210 billion, funded by the national coffers. Cua Dai Beach was seriously eroded due to the impact of typhoons in 2022, resulting in serious damage to many houses and tourist establishments. Like us on … [Read more...] about Central Vietnamese province to spend $9mn on emergency anti-erosion embankment

The partnership will enable Australian firms to strengthen business links and identify trade and investment opportunities in the energy sector in Vietnam. Australian experts have discussed the energy transition between Vietnam and Australia and introduced new energy technologies and solutions to its Vietnamese partners. Australian energy delegation and Vietnamese partners. Photos: Australian Embassy in Hanoi The discussion, which aims to promote cooperation on renewable energy, is included in a series of activities in Hanoi and Ho Chi Minh City this week launched by the Australian Energy Trade Mission to Vietnam, part of celebrations of the 50th anniversary of bilateral relations. The Energy Transformation Forum was held under the partnership between the Australian Government Trade and Investment Commission (Austrade) and Vietnam’s Ministry of Industry and Trade, and Vietnam Electricity Group (EVN). Like Vietnam, the Australian government has made a … [Read more...] about Australia provides energy expertise to Vietnam

The Australian Government Trade and Investment Commission cooperated with the Electricity & Renewable Energy Department – Ministry of Industry and Trade of Vietnam and Vietnam Electricity Group to organise the Energy Transformation Forum 2023, held in Hanoi on March 28. Participants at the event The event was part of the Australian Energy Mission which comprises a series of activities in Hanoi and Ho Chi Minh City from March 27 - 30 to promote cooperation on renewable energy and to celebrate the 50th Anniversary of Australia and Vietnam’s diplomatic relationship. Like Vietnam, the Australian government has made a commitment to climate action, with a target of reducing greenhouse gas emissions by 43% by 2030 and to zero by 2050. The forum will discuss the energy transition of Vietnam and Australia and introduce new energy technologies and solutions from Australia. Speaking at the event, Australia’s Ambassador to Vietnam, Andrew Goledzinowski, said that … [Read more...] about Australian Energy Mission launched in Hanoi

Han River runs through the central city of Da Nang.  (Photo: VNA) Da Nang (VNA) – The People's Council of Da Nang city has just approved a resolution on the Da Nang city Master Plan for the 2021-2030 period, with a vision to 2050 which will be soon submitted to the government for approval. Accordingly, by 2030, the city expects to achieve an average annual economic growth rate of 9.5-10% and a gross regional domestic product (GRDP) per capita of about 200-220 million VND (8,500 – 9,350 USD) per person. By 2030, the city’s economic development will focus on three pillars, namely tourism, knowledge-based economy, and service centre. Under the master plan, the city also strives to have annual budget revenue increase of 9-11%, and total investment capital for social development by 11-12%. Da Nang city expects to have about 32,000-35,000 jobs created yearly by 2030. (Photo: VNA) The city targets to mobilise about 800 trillion VND in investment capital for social … [Read more...] about Da Nang targets annual growth of 9.5-10% by 2030

In 2022, two-way trade between Yunnan (China) and the bordering provinces of Vietnam is expected to reach US$3.25 billion. The provincial authorities of Vietnam's Lao Cai and China's Yunnan agreed on March 28 to take necessary measures to lift their comprehensive ties, especially trade. A truck that links Lao Cai and Yunnan Province passes the Kim Thanh II International Border Gate. Photo: The Hanoi Times "The comprehensive partnership between Lao Cai and Yunnan has improved tremendously in recent years, but it has not reached its full potential," said Hoang Quoc Khanh, permanent vice chairman of the Lao Cai Provincial People's Committee. Khanh suggested that Yunnan authorities further relax regulations and facilitate cross-border trade and travel between the two nations to improve bilateral relations. The Lao Cai official said Chinese authorities should restore trade and travel activities to pre-pandemic levels. He also urged the Chinese government to … [Read more...] about Lao Cai and Yunnan provinces agree to strengthen bilateral ties

Illustrative photo (Photo: VNA) Hanoi (VNA) – The Singapore-based United Overseas Bank (UOB) anticipates the State Bank of Vietnam (SBV) will cut its refinance rate in the second quarter this year by 100 basis points to 5.00%. “With the US Fed poised to end its rate hike cycle as soon as May 2023 and that domestic inflation rates are showing some tentative signs of turning, we anticipate that the SBV will cut its refinance rate sometime in the second quarter this year by 100bps to 5.00%,” UOB’s report emphasised. According to the bank's newly-released report on global economic outlook, that could be a one-off move, and more rate cuts may be on tap if domestic price pressures ease off further, although this is highly uncertain for now. From September to November last year, the SBV embarked on a flurry of policy moves given aggressive US Fed interest rate hikes, USD strength, and inflation pressures. It then unexpectedly raised its key interest rates by 100 basis points on … [Read more...] about Central bank to cut refinance rate in next quarter: UOB