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The event will focus on Industry 4.0, digital transformation, and engineering asset management. — Photo Freepik The 17th World Congress on Engineering Asset Management will take place in HCM City, from October 18-20, 2023. Themed “Industry 4.0, Digital Transformation, Society 5.0 and beyond”, the event is hosted and organised by the International Society of Engineering Asset Management (ISEAM), RMIT Vietnam and the Asset Institute. The World Congress on Engineering Asset Management (WCEAM) will bring together academic, policy and industry expertise from diverse economies, geographies, public and private industry sectors to proffer discourse on how to exploit 4IR technologies to sustainably manage engineered assets in a manner consistent with Society 5.0 ideals. The activities, annual meetings, and events of WCEAM provide opportunities for educators, policymakers, practitioners, researchers, and trainers to engage in intellectual discourse on the development and advancement of … [Read more...] about Viet Nam to host 17th World Congress on Engineering Asset Management

Deputy Defense Minister Senior Lieutenant General Hoang Xuan Chien, who is also Head of the MND’s Steering Committee on Vietnam’s Participation in U.N. Peacekeeping Operations, chaired the event. According to the decision, Major Nguyen Van Phong, assistant at the Division of Political Affairs of Brigade 229 under the Engineering Corps, will work as a military observer at the U.N. Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA). Assigning tasks to the officer, Sr. Lt. Gen. Hoang Xuan Chien asked him to promote the spirit of pro-activeness, self-reliance, overcoming difficulties, being flexible and creative; promptly integrate into the international environment and demonstrate his capability while observing military discipline, U.N. regulations and the host country’s laws, and others. According to Major General Hoang Kim Phung, Director of the Vietnam Department of Peacekeeping Operations (VNDPKO), Major Phong participated in various … [Read more...] about One more Vietnamese officer taking on peacekeeping duties

The Cebu Pacific Air A320 Airbus had to make an emergency landing at the Kota Kinabalu International Airport (KKIA), Malaysia after a suspected problem to the aircraft’s engine late Wednesday. It is believed the plane carrying 92 people comprising crew members and passengers, which took off from Cebu in the Philippines at 7:55 p.m., had encountered problems with its left engine during the flight. The pilot then proceeded for an emergency landing at 10:22 p.m., The Star reported. The travelers from Cebu, a mix of Filipinos and Singaporeans, had been put up in a hotel in Kota Kinabalu by the Philippine airline. But despite on-site assistance from airline staff, passengers who spoke to The Straits Times said they decided not to wait another night to complete what was meant to be a routine four-hour journey to Singapore. Many had already left Malaysia at their own expense after spending a night in Kota Kinabalu to catch up on lost time in Singapore. … [Read more...] about Cebu Pacific passengers stranded in Malaysia leave for Singapore at own expense

The second annual report on foreign investment in Vietnam for 2022 released earlier in March by the Vietnam’s Association of Foreign Invested Enterprises noted that the United States has decreased corporate income tax from 25 to 21 per cent, while also reforming investment licensing procedures. In addition, the US government is applying higher taxes on imported products to increase the competitiveness of several industrial sectors, such as energy, automobiles, steel, and aluminium. Vietnam may need to come up with new tactics to retain foreign investors, photo Le Toan Besides that, the US is also promoting a “prosperous economic network” that connects allied countries to build supply chains of products such as semiconductors and 5G-related technology. In Europe, some countries such as Germany and Italy have also unveiled policies to limit investment in overseas markets, while France is encouraging its enterprises to expand their operation in high-value sectors, such as … [Read more...] about Gains feasible through large-scale FDI

The energy transition in Vietnam is tied to the rapid growth of the economy, urbanisation, and industrialisation. We have seen the strong aspiration of the government to speed up the energy transition while meeting the requirements of economic development and the goal of becoming a high-income country by 2045. Energy transition is more seen as a potential engine for employment, and this trend will likely grow, helping to build support for renewables. John Rockhold, head of the Power and Energy Working Group under the Vietnam Business Forum Fossil energy sources are gradually being replaced by green and clean energy sources, reducing greenhouse gas emissions and combating climate change, while Vietnam is one of the first countries to renew its nationally determined contribution to the United Nations Framework Convention on Climate Change in 2020. The roadmap for the country’s transition process towards green and sustainable development will not only need to ensure … [Read more...] about Displaying readiness for the energy transition in Vietnam

The absence in adjustment of power rates, tuition, and hospital fees contributed to an extremely low growth rate of GDP in 2020–2021 or an excessively high one in 2022, as well as relatively moderate inflation throughout 2020–2022. In the first two months of 2023, average core inflation climbed to 5.08 per cent, outpacing the average consumer price index (CPI) growth of 4.6 per cent. Dr. Vu Dinh Anh - Market Price Research Institute Ministry of Finance For 2023, public investment is seen as an economic boost. Investment capital generated from the state budget in February 2023 was anticipated to be almost $1.3 billion, an increase of 36.9 per cent compared to the same month last year. The expected amount of newly registered foreign direct investment up to February 20 was $1.76 billion, which was 2.8 times more than that in the same period in 2022. Slowdown in industrial development and a lack in investment capital are barriers that must be resolved to prevent a downturn … [Read more...] about Focused spending can set a solid base for positive outcome

Some branches are taking care of the registration fee for car buyers, but sales are still not being boosted, photo Le Toan In a document sent to the prime minister last week, the Vietnam Automobile Manufacturers Association (VAMA) along with other associations asked the government to extend the payment of special consumption tax and reduce the registration fee of domestically manufactured and assembled cars by a half this year, in order to stimulate demand. A VAMA representative said that the domestic car sales market is in a gloomy situation, and has been struggling like many other industries since 2020. “In order to stimulate market demand, we need strong enough policies like extending the payment of excise tax in 2023 and taking 50 per cent off the registration fee. These should be applied as soon as possible,” emphasised the representative. To combat the effects of the pandemic, the government chopped the registration fee in half for domestically manufactured and assembled … [Read more...] about Auto makers project bumpy years ahead

Vietnamese authorities are in the process of verifying and investigating the case of Minh Quoc Nguyen, a Vietnamese national wanted by the FBI for his alleged involvement in a US$3 billion money laundering scheme. A screenshot of the FBI’s wanted notice against Minh Quoc Nguyen Discussing the case during a regular press briefing held on March 23 in Hanoi, Pham Thu Hang, deputy spokesperson of the Ministry of Foreign Affairs, said that the nation is a responsible state actor in the fight, prevention, and control of hi-tech and transnational crimes. Hang noted that any actions which make use of cyberspace to infringe upon the legitimate rights and interests of agencies and personal organisations will be investigated and handled in accordance with the law. This comes after the FBI under the United States Department of Justice confirmed that it is in the process of hunting for Minh Quoc Nguyen, a Vietnamese national, for his alleged involvement in the … [Read more...] about Vietnam launches investigation into local man wanted by FBI

Hang made the remarks in reply to reporters’ queries about Vietnam’s stance on the nuclear submarine agreement within the framework of the U.K. - Australia - U.S. Security Pact as well as attitudes of several ASEAN member states. According to her, nuclear energy needs to be used and developed for peaceful purposes and socio-economic development of countries. The use and development of nuclear energy must ensure absolute safety of humans and the environment. She said Vietnam wishes that countries would take responsibility for positively contributing to this common goal, for the sake of peace, stability, cooperation, and development in the region and the world. Regarding the information that the U.S. Federal Bureau of Investigation is seeking a Vietnamese engineer for his alleged involvement in money laundering, Hang said that the relevant Vietnamese agencies are verifying and investigating the case. She affirmed that Vietnam is a country with responsibility for the fight against … [Read more...] about Deputy spokeswoman: Peace, stability, development – common goal of countries

An area in Quang Ninh province (Photo: VNA) Quang Ninh (VNA) – The northern province of Quang Ninh maintained stable and high socio-economic development in the first quarter of 2023, with gross regional domestic product ( GRDP ) growth of 8.04%, statistics showed. The service sector recovered strongly to maintain its role as the main growth engine, contributing to 30.6% of the GRDP. In the first three months, Quang Ninh welcomed 4.85 million tourists and earned some 8.55 trillion VND (363.9 million USD) in tourism revenue, respectively rising 2.3 and 2.7-fold from a year earlier. Meanwhile, state budget revenue reached some 14.8 trillion VND, equivalent to 27% of this year’s estimate and up 8% year on year. The budget comprises 11.27 trillion VND from domestic sources and 3.53 trillion VND from foreign trade, representing increases of 8% and 7% respectively year on year. For the second quarter, the provincial Party Committee targets GRDP growth of about … [Read more...] about Quang Ninh province posts growth of over 8% in Q1