Why development strategies

Vo Van Thuong, permanent member of the Party Central Committee’s Secretariat, speak at the conference. (Photo: VNA) Hanoi (VNA) – Urbanisation is indispensable and an important driving force for Vietnam’s rapid, sustainable socio-economic development in the time ahead, Vo Van Thuong , permanent member of the Party Central Committee’s Secretariat, said at a conference in Hanoi on May 18. The conference looked into the implementation of the Politburo’s Resolution No. 06-NQ/TW, dated January 24, 2022, on urban planning, building, management and development by 2030, with a vision towards 2045. Thuong laid emphasis on the need to quickly build action programmes and plans on the implementation of the resolution, with specific roadmaps and tasks, he noted. It is also crucial to change theoretical mindset and urban planning methods, and ensure the long-term vision, harmony and modernity of planning schemes, with people and their living standards at the centre, and urban … [Read more...] about Urbanisation indispensable in national development: Party official

A corner of District 2 in HCM City. — VNA/VNS Photo HÀ NỘI — The process of urbanisation is an important driving force for rapid and sustainable socio-economic development in the future, with urban areas slated to form a greater part of the country's economy in the next few years. Therefore, all levels of Party committees and Party members are told to focus on planning, construction, management and sustainable development of urban areas in Việt Nam by 2030. Politburo member and permanent member of the Party Central Committee's Secretariat Võ Văn Thưởng made the statement on Wednesday morning when he chaired a conference to direct the implementation of Resolution No. 06-NQ/TW, which is related to the country's urban areas. At the conference, Thưởng told the Government's Party Personnel Committee to soon issue an action plan to quickly implement the resolution. The action plan must have specific roadmaps and assignments; concreting the resolution’s targets into the annual … [Read more...] about Urbanisation process a driving force for rapid, sustainable socio-economic development

Institutions have become a major impediment to the nation’s aspiration to reach high income by 2045. Vietnam needs to shift its economic growth model and improve the government’s capacity to implement economic policy reforms and public investments, realizing its aspiration of reaching high-income status by 2045, a World Bank Group report says. Overview of the report launch. The World Bank Group’s Systematic Country Diagnostic Update, themed "How Will Vietnam Blossom? Reforming Institutions for Effective Implementation,” emphasizes that Vietnam's traditional growth model faces major challenges from the Covid-19 pandemic, slowing globalization, and the country’s increasing vulnerability to external shocks, especially climate risks. After identifying a series of policy responses and reform priorities, many of which are not new, the report argues that adapting institutions will be the key to success. “Vietnam’s GDP per capita has increased fivefold over the … [Read more...] about Effective policy implementation crucial for Vietnam to reach high-income status by 2045: WB

Blockchain-based projects in all kinds of sectors promise enticing income opportunities, Photo: FOTA Vietnam is emerging as one of the blockchain hubs in Southeast Asia and across the globe as the number of startups in this field increases significantly. At the Binance Blockchain Week in Dubai last month, two non-fungible token (NFT) games developed by Vietnamese enterprises were in the top 10 GameFi projects with the highest revenue in the Binance ecosystem. Often bringing in billions of dollars in profits, blockchain is becoming a fertile land that attracts investors and developers, and also those who have the need to find new job opportunities. A report from LinkedIn confirmed that the hiring demand for blockchain programmers will continue to explode in 2022. Positions such as blockchain engineer and blockchain programmer alone account for 15.6 per cent of all LinkedIn job openings, proving the undeniable attractiveness of the blockchain industry in the market. The data … [Read more...] about Blockchain industry yearns for new talent

Speakers at a conference discuss how improving institutional performance can help Việt Nam achieve its target of reaching high-income status in 2045. — VNA/VNS Photo HÀ NỘI — Việt Nam must seek to adapt its economic growth model while drastically improving the Government's capacity to coordinate and implement economic policy reforms and public investments to realise its objective of reaching high-income status by 2045, said a recent World Bank (WB) report. The report emphasises the major challenges faced by Việt Nam's traditional growth model during the COVID-19 pandemic, slowing globalisation and the Southeast Asian economy's increasing vulnerability to external shocks, especially climate risks. The key to addressing said issues, according to WB, is for the country's institutions to adapt and improve. “Việt Nam's GDP per capita has increased fivefold over the past three decades, while its institutions have not adapted at the same speed since the Đổi Mới (Renewal) course of … [Read more...] about Institutional reforms key to reaching high-income status

The MoU was signed between the Partnership for Sustainable Agriculture in Vietnam, the National Agriculture Extension, and CARE, paving the way forward for the rollout of the Farming for Change – She Feeds the World project in Vietnam (SFtW Vietnam). The project aims to ensure small-scale farmers in Vietnam’s Central Highlands, particularly women and ethnic minorities, have more secure and resilient livelihoods for food, nutrition, and water security. The Central Highlands in Vietnam are a major agricultural hub, producing key food crops. However, the agricultural system in the region faces serious environmental, economic, and societal issues, including unsustainable agricultural practices and weak market linkage. The overuse of pesticides, fertilisers, and water resources are lowering the productivity of the land which is further exacerbated when farmers sell their products to local collectors who have limited bargaining power, earning them lower incomes. This particularly … [Read more...] about PepsiCo Foundation funds expansion of She Feeds the World programme

AI tech solutions helping to fast-track recruitment in HR-illustration photo, source:freepik L’Oreal is one of the world’s largest cosmetics and beauty corporations with more than 80,000 team members globally. The French corporation gets about five million applications for roughly 15,000 new positions each year. The vast number of applications took up a great deal of L’Oreal’s money and time for the personnel selection process. Things got easier when the corporation adopted a modest approach by applying AI to the recruitment process in an intern programme. A representative of L’Oreal said that 12,000 applicants with 80 spots were quickly processed by AI, saving 200 recruiting hours compared to the previous full human-powered review process. Meanwhile, Unilever, one of the world’s leading multinational companies specialising in food, home, and personal care products, also said that around 70,000 person-hours of interviewing and assessing candidates had been cut, thanks to the … [Read more...] about AI tech solutions helping to fast-track recruitment in HR

A wind power project in the northern province of Ninh Thuan. — Photo evn.com.vn The Vietnamese economy’s unparalleled exposure to multinational corporations and the global consumer market calls for a pragmatic alignment between the country’s renewable energy strategy and the decarbonisation commitments of the global brands, according to IEEFA’s latest report on Viet Nam. “Multinational corporations responsible for up to US$150 billion of Viet Nam’s export revenues have made specific pledges on carbon neutrality or decarbonisation of varying scope and timelines,” said Thu Vu, energy finance analyst leading the Vietnamese market coverage for IEEFA. “These brands’ journey toward sustainability progress is one in which Viet Nam can not afford to ignore or miss out on.” Viet Nam is currently the largest exporter of goods in developing Southeast Asia. With nearly 60 per cent of the exports being manufactured goods for the big brands, its growing role in the global supply chain … [Read more...] about IEEFA: Viet Nam’s manufacturing future rests on a credible renewable energy game plan

Grab has announced its commitment to managing its carbon footprint to become carbon-neutral by 2040 even as its business continues to grow significantly over the years. It was one of three goals it announced in its recently released environment, social and governance (ESG) report. It said it would focus first on measures to reduce emissions before turning to offsets. As a platform that facilitates on-demand mobility and deliveries, 96 per cent of Grab’s total emissions in 2021 came from vehicles. Hence, a core part of its strategy is to help build an inclusive electric vehicle (EV) eco-system that caters to the middle and lower-middle classes. To this end, it works with governments, charging infrastructure providers and automakers across Southeast Asia to do EV pilot studies and research, plan and develop EV charging infrastructure and battery swapping stations and financing products to support greater EV adoption. The other two goals are doubling the number of marginalised … [Read more...] about Grab announces targets for sustainable, inclusive growth

Female workers at a garment company in Đồng An Industrial Zone in the southern province of Bình Dương. — VNA/VNS Photo Chí Tưởng HÀ NỘI — Further empowering women will help improve Việt Nam's garment and footwear sectors after the COVID-19 crisis, evidence from the ILO’s flagship programme has shown. 'Better Work Việt Nam' worked with the Việt Nam Chamber of Commerce and Industry (VCCI) and was supported by the Australian Government and other donors, to organise a national conference on women’s empowerment during the COVID-19 recovery in Hà Nội on Wednesday, towards a more resilient garment and footwear sectors. Better Work Việt Nam is a unique partnership between the ILO and the International Finance Corporation (IFC), a member of the World Bank Group, with the ultimate goal of improving working conditions and boosting the competitiveness of these key export industries of Việt Nam. Facing the COVID-19 crisis, the programme gave gender a greater priority in recognition of the … [Read more...] about Improved gender equality vital to recovery of garment, footwear industries