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On March 28, an official welcoming ceremony was held for the Vietnamese Defense Minister and the delegation with 19 series of cannon shots at the RoK Defense Ministry’s headquarters. After the reception, the two defense ministers held talks. The RoK defense minister warmly welcomed his Vietnamese counterpart and military delegation, while highly appreciating the sound relations between the two countries over the past time, especially the increasingly intensive and effective defense relations. Gen. Giang thanked the host for his warm reception, expressing his pleasure to pay an official visit to the RoK as the two countries have just upgraded their relations to a comprehensive strategic partnership. He hoped that the visit would help concretize the two countries' partnership in defense, actively contributing to the bilateral relationship. At the talks, the two ministers discussed regional issues of mutual concern. Gen. Giang noted that peace, cooperation and development are still … [Read more...] about Defense Minister Phan Van Giang holds talks with RoK counterpart

The Ministry of Planning and Investment (MPI) is urging a project steering committee to accelerate the transition of traditional industrial parks (IPs) to an ecological model as part of a nationwide eco-IP intervention initiative. Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said, “The project has contributed to the replication of the eco-IP model in Vietnam, in line with the National Green Growth Strategy for 2021-2030, Vietnam’s commitment to the United Nations’ Sustainable Development Goals, and the net-zero emissions commitment to 2050.” Private sector urged to enter eco-IP arena, illustration photo. Developing eco-IPs is inevitable as many countries are applying the carbon tax mechanism on imported goods, the deputy minister added. “Meanwhile, many tenants in IPs are manufacturers for export, and they need a green certificate to export products. Thus, relevant parties continue to spread technical and financial support to many IPs at different … [Read more...] about Private sector urged to enter eco-IP arena

In 2008, the US investment bank Bear Stearns, on the verge of collapse, had to be rescued by J.P. Morgan. This marked the beginning of the global financial crisis of 2008, which sent the global economy into a deep recession and caused significant economic damage, including massive employment losses. Patrick Lenain, senior associate at the Council on Economic Policies Today, several banks are once again in trouble. As of March 22, four large banks were in distress. Silicon Valley Bank (SVB), a $212 billion US bank specialising in tech startups, collapsed when it was unable to meet deposit withdrawal requests and had to be taken over by federal regulators. A few days later, Signature Bank, another midsized US bank with assets of $110 billion, also suffered a severe liquidity crisis and was seized by federal regulators. This was followed by First Republic Bank with assets of $205 billion, which was hit by rating downgrades and a tumbling share price and had to be … [Read more...] about Developments for Vietnam to watch in midst of bank crisis