Support policies

Pham Thu Huyen, owner of a garment factory in Hanoi’s Hai Ba Trung district, has been worried about how to deliver salaries to hundreds of workers during the Lunar New Year period. “Instead of working overtime all day and night like a year ago, we have had too few orders due to the sharp drop in demand in the last few months. I have no profit to share with workers, and I am looking to borrow from somewhere else,” said Huyen. Huyen is also considering scaling down the company if the market remains gloomy after the festive break. Lack of overseas demand is cutting into operations of many businesses, Photo: Le Toan This is the common status of countless companies at this time. Many cannot survive, with little work coming in over the past several months. In a report from the Ministry of Planning and Investment in December, over 3,770 enterprises registered to suspend business for a definite time, up by a quarter on-year. In 2022, the number of enterprises withdrawing … [Read more...] about Experts call for extension of tax support

Gross domestic product (GDP) grew 2.9% in October-December from a year earlier, data from the National Bureau of Statistics (NBS) showed on Tuesday, slower than the third-quarter's 3.9% pace. The rate still exceeded the second quarter's 0.4% expansion and market expectations of a 1.8% gain. On a quarterly basis, GDP stalled, coming in at 0.0% in the fourth quarter, compared with growth of 3.9% in July-September. Beijing last month abruptly lifted its strict anti-virus measures that had severely restrained economic activity in 2022, but the relaxation has also led to a sharp rise in Covid cases that economists say might hamper near term growth. For 2022, GDP expanded 3.0%, badly missing the official target of "around 5.5%" and braking sharply from 8.4% growth in 2021. Other indicators for December such as retail sales and factory output, also released along with GDP data, beat expectations but were still weak. "Activity data in December surprised broadly to the upside, but … [Read more...] about China’s 2022 economic growth one of the worst on record, post-pandemic policy faces test

Le Xuan Dinh-Deputy Minister of Science and Technology During 2022, the sci-tech sector focused on innovation and legal documents for socioeconomic development and international integration. In particular, the sector submitted documents related to the application of biotechnology and the amended intellectual property (IP) law, as well as a plethora of legal decrees, decisions, directives, and circulars. Last year, the ministry also submitted the sci-tech and innovation development strategy to 2030, which contributes to turning Vietnam into a developing country with modern industry and high average income, as well as developing society, ensuring national defence, and protecting the environment. The ministry also proposed amendments to the Law on Science and Technology, the Law on Product and Goods Quality, the Law on Standards and Technical Regulations, and the Law on Atomic Energy. Sci-tech has promoted the development of sectors and industries such as agriculture, … [Read more...] about Policies bringing new prospects for sci-tech market

The VBA engages all stakeholder interests to advance the sector’s growth Promoting sustainability Beer, alcohol, and beverages are products that serve the daily needs of consumers, often so they can enjoy cultural events and holidays. With factories operating in almost all provinces and cities, the industry contributes nearly $2.56 billion annually, which is about 3.2 per cent of total state budget revenues. The industry promotes all links in the supply chain including agriculture, logistics, mechanical engineering, biochemistry, packaging, and services. Highlights of the industry can also be mentioned in environmental protection activities and circular economy development towards sustainability, with typical names such as SABECO, HEINEKEN, HABECO, Coca-Cola, and Suntory PepsiCo. The unprecedented strong support policy packages of the National Assembly and the government in 2022, and businesses’ efforts have helped the industry record a positive initial recovery. … [Read more...] about Appropriate, efficient, and fair policy a must for beverage sector

What are the bright spots in terms of applying the circular economy in Vietnam? The circular economy, green economy, and low carbon economy have been stipulated in the Law on Environmental Protection in 2020, which is also the model that the country will pursue to fulfil its commitment to achieve net-zero carbon emissions by 2050. Assoc. Prof. Nguyen Dinh Tho, general director of the Institute of Strategy and Policy on Natural Resources and Environment Vietnam is one step ahead compared to countries with massive net emissions, such as Brazil, India, China, and Russia. However, it is increasingly difficult to realise its commitments. The 2020 Law on Environmental Protection has very progressive requirements, larger than other countries in the region, such as Singapore or Malaysia, which leaves many manufacturers apprehensive. Therefore, they have proposed that the extended producer responsibility regulations must have a roadmap for implementation and be behind the … [Read more...] about Extra support required for circular economy development in Vietnam

The event was an activity to improve the efficiency of the program “The Navy as a fulcrum for fishermen to reach out to sea." Accordingly, Naval Region 2’s units will coordinate with other agencies and enterprises to take care of fishermen's children who are teenage orphans, contributing to sharing difficulties with local fishermen in coastal and island localities, enhancing the effectiveness of the mobilization work and consolidating military-civilian solidarity. Moreover, Naval Region 2 and other naval units will conduct the program in 28 coastal cities and provinces across the country. According to Senior Captain Vu Anh Tuan, Political Commissar of Naval Region 2, the program aims to further concretize the Party's policies and the State’s law on the responsibilities of the armed forces for children’s rights. After the launching ceremony, Naval Region 2’s units and sponsors adopted five disadvantaged children in Xuyen Moc and Dat Do districts (Ba Ria - Vung Tau). Meanwhile, … [Read more...] about Program held to support orphaned children

At the gathering, leaders of the company inquired after the attendees and presented 425 gift packages, worth VND 580 million in total, to village patriarchs, village heads, needy households and children in the communes of Sa Loong, Dak Kan, and Dak Xu of Ngoc Hoi district, and Ro Koi commune of Sa Thay district. On the occasion, the company also gave lunar New Year gifts, worth from VND 1.5 to 2.5 million each, to its laborers, donated funds for the localities to organize Tet activities, and presented gifts to national contributors and policy families. Last year, the company donated VND 1.6 billion to help the Sa Loong commune’s authorities build houses for five families, support the funds for Agent Orange (AO) victims and the study promotion funds of the four communes of Sa Loong, Dak Kan, Dak Xu, and Ro Koi. According to Senior Colonel Ha Van Nam, Secretary of the Party Committee and Deputy Director of the company, the program is part of activities to ensure a cozy and happy … [Read more...] about Military enterprise present gifts to policy beneficiaries

Apartment blocks in Ha Noi. Experts are concerned that affordable housing has been declined steadily in recent years. — VNA/VNS Photo Danh Lam The government has taken timely measures to support the realty market during tough times, according to Vuong Duy Dung, deputy director of the Housing and Real Estate Market Management Agency. Dung was speaking at the workshop 'Measures to ease the difficulties facing the realty market and the market outlook in 2023' on January 13. The deputy director said the Prime Minister had issued various legal documents to lift the market out of difficulties, including Decision No.1435 and Official Dispatch No.1164. Under the decision, a team led by the Ministry of Construction has been established to report on obstacles holding back local realty projects. In two weeks, the team has travelled across five provinces and met 30 realty firms to take stock of their situation. After the team reported to the Prime Minister on the local situation, the … [Read more...] about Experts call for favourable policies to help real estate

The same day, President of the Vietnam Fatherland Front Central Committee Do Van Chien visited and sent New Year greetings to the border commune of Mo Rai, Sa Thay district, Kon Tum province. The delegation handed over 200 gifts and 100 blankets to needy people and students in Mo Rai commune. From January 9 to 14, Military Region 1 sent a delegation to inspect its units’ combat readiness observance; visited and presented gifts to policy families, needy households in remote areas, and ethnic minority residents. Agencies and units visited and presented gifts to 2,521 policy families and needy households in 61 border communes and towns; 39 families of troops who are carrying out missions on Truong Sa Islands, DK1 Platforms, three convalescent centers, national contributors, 24 heroic Vietnamese mothers, hundreds of wounded soldiers and martyrs’ families. In Long An province, the Secretariat of the Youth Union Central Committee, in collaboration with the Vietnam Labor Federation and … [Read more...] about Activities in support of needy people in lunar New Year held

Representatives of Unilever Vietnam and the People's Committee of District 7 provide 300 gift packs to underprivileged children in District 7, HCM City. — Photo courtesy of the company Unilever Vietnam launched the "For a loving Tet season" programme to pay tribute to those who have silently made contributions to our society and community as well as provide support to the underprivileged on the occasion of (Tet) Lunar New Year 2023. Unilever Vietnam collaborated with Vietnam Women's Union to conduct "Tet of Solidarity – Tet of the Border" project, giving 750 gifts to heroic Vietnamese mothers and families under the preferential treatment policy, and women in need, orphans and disadvantaged children in six provinces, including Thua Thien Hue, Kon Tum, Gia Lai, Tay Ninh, An Giang and Dong Thap. The company also gave more than 50,000 Unilever products to the professional healthcare staff at 12 hospitals in Ha Noi, HCM City and Dak Lak with the purpose of encouraging their spirit … [Read more...] about ​​Unilever Vietnam launches programme to support society this Tet