Why secrets make relationships stronger

Accelerated government spending is expected to boost demand in the remaining months of the year. ADB’s Principal Country Economist Nguyen Ba Hung shared his thoughts on Vietnam’s economic performance and its prospects for 2023 with The Hanoi Times. ADB’s Principal Country Economist Nguyen Ba Hung. What is the primary obstacle confronting Vietnam's economy for the remainder of the year? In the first half of 2023, Vietnam experienced a slowdown in GDP growth, with growth projected at only 3.7% compared to the positive momentum seen last year, when GDP grew 6.5% in the first half and 9.5% in the second half, resulting in an annual growth rate of 8% for the whole of 2022. One factor contributing to GDP growth in recent years has been public investment's sustained and steady growth. However, significant internal challenges have emerged during the Covid-19 pandemic. Vietnam's economy heavily relies on exports and foreign direct investment (FDI) … [Read more...] about Public investment as catalyst for Vietnam’s economic recovery in 2023: ADB

There are currently around 300 green buildings certified by standards such as Lotus, Edge, LEED, or Green Mark, Photo: shutterstock According to Douglas Lee Snyder, executive director of the Vietnam Green Building Council, from a legal perspective, realising both financial and non-financial incentives in Vietnam is a challenge. “Maybe we need to make inter-ministerial cooperation efforts to achieve the goals set by the government of Vietnam. For example, while public green buildings often lead the market in other countries, in Vietnam, cost norms per square metre regulated by the Ministry of Finance alone are not enough for one construction, but it needs collaboration from other related ministries,” Snyder told VIR. Meanwhile, Angus Liew, chairman of Gamuda Land Vietnam, said that the barriers involve technology, equipment, and even perceptions. “In addition, Vietnam’s government has become well aware of the repercussions and understands the importance of transforming its … [Read more...] about Task obvious for Vietnam’s green building development

UB office in Batu Kawan Penang, Malaysia UBCT, which on September 29 was rebranded to UB Group, was founded in 1995 in an attempt to revolutionise inventory tracing in the semiconductor industry. The company embarked on a transformative journey, starting with a focus on specialised machine servicing within the molding industry. By 2006, the company transitioned into research and development, specialising in material management systems and development for the semiconductor Industry. Over the years, it evolved and expanded, introducing innovative software solutions for dashboards and command centres and successfully implementing total lights-off manufacturing solutions in collaboration with their Shanghai counterpart. In 2017, the company shifted its focus to cutting-edge automated warehouse solutions. Subsequently, a new division emerged, dedicated to AI and autonomous robotic solutions, embracing the future of automation. The rebranding to UB Group this year reflects its … [Read more...] about UB’s Smart Solutions for Industrial 4.0

Vietnamese Ambassador to Germany Vu Quang Minh (fourth from right) presents flowers at the event (Photo: VNA) Berlin (VNA) – Nearly 140 women representing Vietnamese women’s groups in 16 states of Germany attended a founding congress of the Vietnamese Women 's Union in Germany on October 1. Addressing the event, Vietnamese Ambassador to Germany Vu Quang Minh praised the efforts of the representatives and the preparatory committee in holding the congress. According to the ambassador, the establishment of the union will affirm the role of the Vietnamese community in Germany in particular and in Europe in general. Speaking to the Vietnam News Agency 's reporters, Mui said that joining the Vietnam Women's Union in Germany offers an opportunity for members to connect and support each other, create deep relationships, discuss important issues together as well as share knowledge and propose creative solutions. The union will also be a forum to honour talented and … [Read more...] about Vietnamese women’s union established in Germany

With the presence of leading renewable energy developers in Vietnam, Denmark has contributed international resources to the country’s net-zero journey. Denmark in Your Eyes – an annual painting competition launched in Vietnam in 2016 – is an activity demonstrating Vietnam-Denmark cooperation in green growth in recent years. Ambassador of Denmark to Vietnam Nicolai Prytz speaks at the launch of Denmark in Your Eyes competition 2023. Photo: Danish Embassy in Hanoi The competition has “added a lot of value to strengthening our two countries’ long-term cooperation on promoting green and sustainable development,” said Ambassador of Denmark to Vietnam Nicolai Prytz. With more than 18,000 paintings submitted in the last competition, it shows the great popularity of the event among schoolchildren all over Vietnam. For that reason, “it is an amazing playground for Vietnamese children, not only to express wishes about their future but more importantly to come up … [Read more...] about Green Future promotes Vietnam-Denmark cooperation for sustainable growth

How can the logistics industry adopt global best practices offered by SLP? SLP is part of GLP, a global entity engaged in the creation, ownership, development, and operation of logistics real estate, spanning 17 countries across the globe. We emphasise the continuous pursuit of learning and investment to foster growth and enhance the efficiency of the logistics industry. Edwin Chee, COO of SLP Vietnam SLP excels in providing modern pre-built logistics facilities strategically positioned at key hubs. These state-of-the-art facilities, designed to meet the specific demands of various industry from manufacturing to retail and e-commerce enterprises, adhere to high standards and offer adaptable layouts that can expand as needed, optimising supply chain efficiency and seamless goods circulation. Furthermore, SLP’s commitment to custom-tailored solutions ensures that each tenant’s unique operational needs are met through facilities custom-designed and constructed to … [Read more...] about Applying global practices to Vietnam

Digital board showing stock information inside the building of the Hồ Chí Minh Stock Exchange (HoSE). — VNA/VNS Photo Việt Nam is still on the watch list of FTSE Russel for a possible reclassification from frontier to secondary emerging market status, the global index provider FTSE Russel said in its September report. However, the opportunity for the stock market’s upgrade may become clearer next year. The country has been on the watch since 2018. FTSE Russel said that Việt Nam’s reform progress is slower than expected, partly due to the COVID-19 pandemic. Việt Nam has yet to meet the delivery versus payment (DvP) criterion, which is currently rated as ‘Restricted’ due to the market practice of conducting a pre-trading check to ensure the availability of funds prior to trade execution, FTSE Russel said. Meanwhile, as the market does not experience failed trades, the ‘settlement - costs associated with failed trades’ criterion is unrated. It added that Việt Nam would need … [Read more...] about FTSE keeps VN on watch for reclassification to secondary emerging market