Who ascends to the bill passed by the national assembly

An oil rig of Petrovietnam (Photo: VietnamPlus) Hanoi (VNA) – Forty-eight years since its establishment, the Vietnam Oil and Gas Group (Petrovietnam) has become a multi-billion-dollar enterprise and made breakthrough and comprehensive development strides. Petrovietnam was set up on September 3, 1975 with the goal of helping guarantee national energy security and serving as a pillar of economic support for national development. Shortly after the date of national reunification (April 30, 1975), on September 3 the same year, the Vietnam General Department of Oil and Gas, the predecessor of Petrovietnam , was established under the Council of Government in efforts to realise late President Ho Chi Minh’s aspiration to develop an oil and gas industry of the country. Nearly half a century has passed, Petrovietnam has managed to master the most cutting-edge technologies and build a complete oil and gas industry. From 1986 to 2022, it posted more than 400 billion USD in total … [Read more...] about Petrovietnam in step with 48 years of national development

Võ Trí Thành * Võ Trí Thành The General Statistics Office on Friday unveiled a comprehensive report on Việt Nam's socio-economic development for the third quarter and the first nine months of this year. The report demonstrates a less daunting economic landscape, albeit one that remains exceedingly challenging if the nation is to achieve the economic growth targets set by the National Assembly. As of the third quarter of 2023, Việt Nam's economy has traversed two-thirds of the year, yet the Gross Domestic Product (GDP) has only expanded by a modest 4.24 per cent in comparison to the same period last year. This growth rate, though higher than the rates recorded in the corresponding nine months of 2020 (2.19 per cent) and 2021 (1.57 per cent) during the 2011-23 period, falls short of the ambitious 6 per cent growth target set by the National Assembly for the whole year, let alone the more ambitious target set by the Government at 6.5 per cent. The economic recovery following the … [Read more...] about Việt Nam’s economic landscape at crossroads: Q3 reports highlight challenges in achieving targets

Also in attendance were Major General Dang Van Lam, Deputy Commander of Military Region 7, the delegation of Binh Duong province’s National Assembly deputies, and representatives from the General Staff of the Vietnam People's Army, among others. In 2023, the Minister of National Defense decided to provide financial support for the construction of 5 gratitude houses and the distribution of gifts to policy beneficiaries in Binh Duong province. Following the defense minister's decision, the provincial military command has collaborated with the local authorities to select policy beneficiaries and families facing difficulties in the province to build houses and present gifts to them. The handover ceremonies of these 5 houses were conducted during the 76th anniversary of the Wounded Soldiers and Martyrs' Day on July 27. On this occasion, the Ministry of National Defense also gave 100 gift packages to policy families and those facing difficulties in the province. Speaking at the … [Read more...] about Defense leader presents gifts to policy beneficiaries in Binh Duong

Vientiane (VNA) - Lao Prime Minister Sonexay Siphandone has instructed relevant agencies to expedite the drafting of a strategy on rare earth and other minerals, to ensure proper management of mining operations in the country, reported Vientiane Times. economy . As rare earth is in high demand globally, it is necessary for the government to ensure that Laos fully benefits from the mining of rare earth deposits, he said. In recent months, National Assembly members have expressed concern about mining operations in Laos , saying that the mismanaged export of precious metals and other minerals has resulted in serious financial losses. Laos's rare earth reserves are estimated to be big. The country has to date signed rare earth exploration contracts with 18 companies in 18 projects./. VNA … [Read more...] about Lao Gov’t tightens management of rare earth mining

Lower-than-expected growth in advanced economies and China could reduce external demand for Vietnamese exports. Vietnam's economic growth for 2023 is set to hit 4.7%, primarily influenced by weak domestic and external demand . Production of aircraft components at MHI Aerospace Vietnam. Photo: Pham Hung/The Hanoi Times The World Bank released the forecast in its latest East Asia and Pacific October 2023 Economic Update. However, there's optimism for a recovery in the following years, with growth expected to reach 5.5% in 2024 and 6.0% in 2025. The main driver of this growth will be domestic demand, although at a slower pace than in previous years. In terms of inflation, the Consumer Price Index (CPI) is projected to average 3.5% this year, largely due to scheduled increases in civil servant salaries. In the following years, assuming stable energy and commodity prices, inflation is expected to decline to 3.0% in both 2024 and 2025. On the fiscal side, … [Read more...] about Vietnam’s GDP growth forecast to expand by 4.7% in 2023: WB

The Ho Chi Minh City transport authority will inspect the compliance of Thanh Buoi Bus Company with regulations on providing transport services using passenger buses on Thursday this week, just a few days after a fatal crash between a Thanh Buoi sleeper bus and a 16-seater car killed five people and injured four. Aside from Thanh Buoi, two other passenger transport businesses, namely Thien Y and Hoa Hao, will undergo the inspection, the municipal Department of Transport said on Monday. The department earlier formed an inspection team on September 12 to check the three businesses’ compliance with the said regulations, as they were found to have flouted the law multiple times. The inspection, initially slated to take place from October 15 to November 15, was rescheduled to Thursday this week as required by the prime minister following the deadly crash involving a Thanh Buoi sleeper bus. The fatal collision occurred on the National Highway 20 section passing through Dong Nai … [Read more...] about Vietnamese long-haul bus company to face inspection following deadly crash