Which cultural value dimension is most likely to encourage rapid economic development

Hanoi is a major contributor to Vietnam’s economic recovery in 2021, especially in pushing for drastic measures in the Covid-19 response and subsequently socio-economic development. Hanoi would focus on developing transport infrastructure to boost inter-provincial linkage, along with more investment in tourism and services to support growth. Hanoi Party chief Dinh Tien Dung (r) at the discussion. Photos: The Hanoi Times “The local authorities are committed to redoubling the development of healthcare and education systems, promoting cultural values, and addressing social concerns, including  old buildings renovation.” Secretary of the Hanoi Party Committee Dinh Tien Dung gave the remarks at a group discussion on Vietnam’s socio-economic development of National Assembly deputies from Hanoi on May 25. According to Dung, Vietnam has gained encouraging development results in 2021 despite severe Covid-19 impacts, to which the city’s Party chief attributed the … [Read more...] about Hanoi focuses on transport infrastructure development to aid growth

A site in Non Nuoc Cao Bang Global Geopark in Ban Hau Valley of Cao Thang commune, Trung Khanh district, Cao Bang province (Photo: VNA) Cao Bang (VNA) – Experts from the Global Geoparks Network (GGN) have made a fact-finding tour of Non Nuoc Cao Bang Geopark and gave several recommendations to northern Cao Bang province to help improve the park conservation and optimisation. The trip was made ahead of the re-assessment of Non Nuoc Cao Bang slated for late July. At a meeting with the provincial People’s Committee on May 25, Guy Martini, Chairman of the UNESCO Global Geoparks Council, said thanks to local authorities’ efforts and creativity, 84 percent of the workload on the construction and protection of the park has been done, and it is now ready for re-assessment. He also pointed out several issues needing improvement, suggesting the province print the Non Nuoc Cao Bang Global Geopark logo on products of the “One Commune, One Product” (OCOP) programme so as to popularise the … [Read more...] about Suggestions made to help optimise values of Global Geopark

The country boasts 335 industrial parks with a combined area of 100,000 hectares, which will be expanded to meet the growing demand of domestic and foreign investors. Vietnam is now ready to receive a new wave of investment capital and become a key global production hub, Deputy Minister of Planning and Investment (MPI) Tran Duy Dong. Electronic production at Katolec Vietnam in Quang Minh Industrial Park, Hanoi. Photo: Pham Hung “The country’s ongoing push for exports amid rising global demand would solidify Vietnam’s status as one of the most attractive destinations for multinationals and a key link of the global supply chains,” he told the local media. A report from the MPI noted foreign direct investment (FDI) commitments to Vietnam in the first four months of 2022 stood at nearly $11 billion, of which nearly $5.3 billion were poured into fresh projects, up 92.5% year-on-year. Meanwhile, additional capital injected into existing projects also surged by … [Read more...] about Vietnam ready to become global production hub

Party and State leaders take a group photo with National Assembly deputies from ethnic minority groups on Wednesday. — VNA/VNS Photo HÀ NỘI — Party and State leaders had a meeting with members of the 15th National Assembly (NA) from ethnic minority groups, on Wednesday. President Nguyễn Xuân Phúc, Prime Minister Phạm Minh Chính, NA Chairman Vương Đình Huệ, NA Vice Chairman Trần Thanh Mẫn, Chairman of the Vietnam Fatherland Front Central Committee Đỗ Văn Chiến, and head of the Party Central Committee's Commission for Mass Mobilisation Bùi Thị Minh Hoài, attended the meeting. Speaking at the meeting, NA Chairman Huệ emphasised that the Party and State always determine that the great unity of ethnic groups is extremely important to the country, which is home to 54 ethnic groups living together peacefully, and standing side by side in the process of national construction and defence. The Party and State consistently build policies on great national unity on the basis of equality, … [Read more...] about Party and State leaders meet with NA ethnic minority deputies

President Nguyen Xuan Phuc, Prime Minister Pham Minh Chinh, N.A. Chairman Vuong Dinh Hue, N.A. Vice Chairman Tran Thanh Man, Chairman of the Vietnam Fatherland Front Central Committee Do Van Chien, and head of the Party Central Committee's Commission for Mass Mobilisation Bui Thi Minh Hoai, attended the meeting. Speaking at the meeting, N.A. Chairman Hue emphasized that the Party and State always determine that the great unity of ethnic groups is extremely important to the country, which is home to 54 ethnic groups living together peacefully, and standing side by side in the process of national construction and defense. The Party and State consistently build policies on great national unity on the basis of equality, solidarity, respect and mutual development. Policies related to ethnic minorities are affirmed in all Constitution versions of the country, he stressed. In recent years, many socio-economic development policies for ethnic minority and and mountainous areas have … [Read more...] about Party and State leaders meet with N.A. ethnic minority deputies

Deputy Prime Minister Pham Binh Minh (R) meets Governor of Gunma Prefecture Ichita Yamamoto (Photo: VNA) Tokyo (VNA) – Deputy Prime Minister Pham Binh Minh had meetings with the Governors of Kanagawa Prefecture and Gunma Prefecture, Yuji Kuroiwa and Ichita Yamamoto, respectively on May 25 as part of his ongoing trip to Japan. At the meetings, Deputy PM Minh thanked the Japanese localities for supporting the Vietnamese community there over the years, especially amid the COVID-19 pandemic. He highly valued efforts by the two prefectures in holding cultural exchange activities with Vietnam, even during the pandemic, contributing to enhancing mutual friendship between people of both countries. Highlighting that Vietnam has fully opened its tourism for foreign tourists and put COVID-19 under control, the Deputy PM suggested that the administrations of Kanagawa and Gunma take measures to encourage local businesses to invest in Vietnam, and pledged to create optimal … [Read more...] about Vietnam pledges to create optimal conditions for Japanese investors: Deputy PM

State President Nguyen Xuan Phuc (right) met with his Greek counterpart Katerina Sakellaropoulou, VNA At last week’s talks between State President Nguyen Xuan Phuc and Greek counterpart Katerina Sakellaropoulou in Hanoi, both leaders agreed that the two nations will push negotiations for a double tax avoidance agreement (DTAA) and another on maritime transport in order to create a framework for bilateral economic cooperation. The DTAA would help prevent Vietnamese and Greek businesses and investors from being double-taxed on their income. This also applies to legal entities and individuals. Vietnam currently has approximately 80 DTAAs signed. According to consulting firm Dezan Shira & Associates, a company may be subject to taxes in its country of residence and also in the countries where it raises income through foreign investments for the provision of goods and services. “It is extremely worthwhile for foreign investors to be aware of the existing DTAAs between Vietnam … [Read more...] about Vietnam calls for more Greek involvement

Illustrative photo (Source: VNA) Hanoi (VNA) - The Bank for Investment and Development of Vietnam (BIDV) and the Asian Development Bank (ADB) on May 25 co-organised a workshop to announce a report on Vietnam’s financial market in 2021 and its 2022 outlook. BIDV Senior Executive Vice President Tran Phuong said it is a result of research by a team of ADB and BIDV experts. This is the first time a Vietnamese financial institution has collaborated with ADB to make a comprehensive assessment report on the Vietnamese financial market, covering the fields of banking, securities, and insurance, he noted. Looking back at 2021, the report states that the world economy recovered quite quickly along with a rapid increase in inflation due to the majority of countries reopening socio-economic activities. The global financial market continued its fast recovery given the new normal condition and strengthened confidence. In that context, Vietnam's economy recovered quite … [Read more...] about BIDV, ADB release report on Vietnam’s financial market

Transport infrastructure is a crucial part of the country’s medium-term funding plans, Le Toan Data from the Ministry of Finance shows that the disbursement rate of official development assistance (ODA) and foreign preferential loans in the first four months of 2022 reached merely 4.39 per cent of the assigned plan. “The slow disbursement of foreign capital affects socioeconomic development goals,” commented Minister of Finance Ho Duc Phoc in a dispatch to ministers and leaders of governmental agencies on May 6. In the document, Phoc stated that the delay in the disbursement of foreign capital is the responsibility of ministries, sectors, and localities. He also quoted the prime minister’s direction in early April, asking ministries, sectors, and localities to accelerate the disbursement of public investment capital and consider this one of the political tasks to focus on this year. Experts found that the disbursement rate of public investment capital and ODA reached just a … [Read more...] about Disbursement continues to play catch-up