27 of june

The degradation of the coral reef ecosystem in the core zone of Nha Trang Bay Marine Protected Area. (Photo: VNA) Khanh Hoa (VNS/VNA) – The People's Committee of Nha Trang city in the south-central province of Khanh Hoa has proposed to install solar-powered cameras to monitor and protect coral in Hon Mun Area after severe coral bleaching was reported there. Huynh Binh Thai, head of the Nha Trang Bay Management Board, said that the cameras would be installed on the island to monitor fishing boats and submersibles in the conservation area. Underwater diving cameras were also proposed to facilitate the observance of coral growth. Along with the installation of cameras, the Vietnam-Russia Tropical Centre and the Nha Trang Institute of Science and Technology for Aquaculture under Nha Trang University will pilot coral restoration in some areas of Hon Mun. They then would choose the optimal method to restore coral on a large scale. Nha Trang Bay is nearly 250 square … [Read more...] about Solar-powered cameras proposed in Hon Mun for coral protection

Manufacturers remained optimistic that production will increase in the next 12 months. The S&P Global Vietnam Manufacturing Purchasing Managers' Index (PMI) remained above the 50.0 no-change mark for the tenth successive month at 51.2 in July, signaling a further strengthening of business conditions. A reading below the 50 neutral marks indicates no change from the previous month, while a reading below 50 indicates contractions, and above 50 points means an expansion, according to S&P Global. New orders increased for the tenth month running, but the rate of expansion eased to the weakest since April. New export business rose solidly, meanwhile, and at a faster pace than total new orders. The continued growth of new orders encouraged manufacturers to keep expanding production in July. Output rose for the fourth successive month. That said, the rate of expansion was only marginal and the softest in the current sequence of growth amid signs of demand … [Read more...] about Vietnam’s manufacturing output continues an upward trend in July

Illustrative photo (Source: AFP/VNA) Singapore (VNA) - Singapore's job market continued its recovery in the second quarter of this year, according to advance estimates released by the Ministry of Manpower (MOM). In the quarter, the country's total employment, excluding migrant domestic workers, expanded by 64,400 or 1.9%. Driving this growth was the services sector, which saw 27,300 people employed, closely followed by 25,200 in construction and 12,200 in manufacturing. The total employment grew at a faster pace than the first quarter’s 42,000 or 1.2%. The report showed that more residents found jobs, especially in growth sectors such as information and communications, professional services, and financial services. Meanwhile, the unemployment rate, which peaked in October 2020, held steady after reaching pre-COVID-19 levels in February this year. In its report, MOM said hiring is expected to remain strong in the coming months, as the proportion of companies … [Read more...] about Singapore’s job market further recovers in Q2

Construction on the first section of the Bien Hoa-Vung Tau expressway will start on April 30 next year in the southern province of Ba Ria-Vung Tau. Construction on the first section of the Bien Hoa-Vung Tau expressway will start on April 30 next year in the southern province of Ba Ria-Vung Tau. The Ba Ria-Vung Tau Provincial Party Committee on Friday announced the groundbreaking date for the 19.5-kilometre section of the expressway that will run through the province. According to the province, the section will have six lanes and has a total investment of VND5.2 trillion (USD226.09 million). The section is expected to be completed and open to traffic on June 20, 2025, after 27 months of construction. Speaking at the Friday meeting on the project, provincial Party Committee Secretary Pham Viet Thanh said that the site clearance and compensation processes must be completed prior to the 2023 Lunar New Year holiday. This will be the first expressway project to … [Read more...] about Construction of Bien Hoa-Vung Tau expressway to start next year

In addition to ensuring stable and safe power supply, EVN’s units have always demonstrated social responsibility. Each unit helps families in need, especially those of war invalids and martyrs living in the areas where they operate. This year, EVN units beefed up such activities in order to contribute to the dissemination of revolutionary traditions, patriotism, national pride, and responsibility of party members and state employees. Since June, EVN trade unions have been visiting families and revolution contributors in many localities. Specifically, the Power Transmission Company No.1 (PTC1) came to offer incense in memory of heroes and martyrs at Vi Xuyen National Martyrs Cemetery in Ha Giang Province; the Ninh Binh PC Trade Union visited and presented gifts to the Nho Quan Invalids Nursing Center in Ninh Binh Province. At the Vietnam-Laos International Martyrs Cemetery (Anh Son District, Nghe An Province), a delegation of the Nghe An Power Company offered incense and … [Read more...] about Power industry honors martyrs

At the meeting The Ministry released the information at today's third session on digital transformation at the government headquarters chaired by Prime Minister Pham Minh Chinh, Chairman of the National Committee on Digital Transformation. According to the work plan, the National Committee on Number Transformation meets quarterly. The third meeting aimed to evaluate digital transformation results in the first six months of 2022 and identify solutions and tasks for digital transformation in the coming time. The meeting was connected to the headquarters of ministries, ministerial-level agencies, governmental agencies, and people's committees of provinces and cities virtually. Addressing the opening session, Prime Minister Pham Minh Chinh stated: The document of the 13th Party Congress has identified the national digital transformation as a very important task, associated with three main pillars including the digital government, the digital economy and the digital society in … [Read more...] about Cashless transaction volumes increase by 76 percent in first 5 months: Ministry

Illustrative photo. Bad debt risks The second quarter financial statements of commercial banks state that the total amount of bad debts on the balance sheet at VPBank stood at VND20,625 bln, up 27 percent compared to the beginning of the year, bringing the bad debt and loan ratio on the bank consolidated report to increase sharply from 4.57 percent to 5.25 percent . VietBank was also in the group with a bad debt ratio exceeding the prescribed threshold at 3.99 percent. Although the remaining banks still kept the bad debt ratio at 3 percent, it was clear that bad debts are now showing signs of further increasing. At Vietnam International Commercial Joint Stock Bank (VIB), the total bad debt at the end of June stood at around VND5,428 bln, a 16.2 percent increase compared to the beginning of the year. In this, Group 4 debt increased 32 percent to VND2,125 bln, and Group 5 debt increased 67 percent to VND2,210 bln. In the first six months of the year, Group 4 debt at TPBank … [Read more...] about Banks avoiding further bad debt risks

The Civil Aviation Authority of Vietnam (CAAV) has just asked Pacific Airlines to report on their current capital condition, and whether they meet the requirements to continue operations. Pacific Airlines faces closure due to financial difficulties. Illustrative photo In a notice sent to the airline, CAAV warned that if Pacific Airlines failed to maintain the required minimum capital for three consecutive years, their operational license would be revoked. As regulated in Decree 89, an airline with a fleet of between 11-30 aircraft should have minimum capital of VND 600 billion. However, Pacific Airlines hadn't met this requirement between 2020-21. The airline even had negative equity by VND2.27 trillion and VND 4.58 trillion in 2020 and 2021 respectively. Low-cost operator Pacific Airlines is a subsidiary of the national flag carrier Vietnam Airlines Vietnam. Formerly known as Jetstar Pacific, it restored its original brand in 2020 after Qantas sold its 30 … [Read more...] about Pacific Airlines faces closure due to financial difficulties

Illustrative image (Source: VNA) Hanoi (VNA) – Oil exploitation in Block 15.1 by Cuu Long Joint Operating Company ( Cuu Long JOC ) is likely to reach a new milestone of 400 million barrels in December, the firm has announced. Cuu Long JOC - comprising Petro Vietnam , ConocoPhillips, KNOC, SK Corporation, and Geopetrol - is the second-biggest oil producer in Vietnam that was established in 1998. According to Cuu Long JOC Director Nguyen Van Que , as of 2011, the firm had paid 11.9 billion USD to the State budget, and posted a revenue of 27.3 billion USD. In the first seven months of this year, the company installed underground pumps and successfully drilled two more wells. Therefore, the firm expects to pay 864 million USD to the State budget this year, he said. According to Que, Cuu Long JOC's investment in oil and gas exploration and production from 2003 to the end of 2022 will reach about 7.75 billion USD. By June 2016, Cuu Long JOC had reached an output … [Read more...] about Cuu Long JOC oil production likely to hit 400 million barrels this year

Vietcombank’s consumer credit balance alone climbed by 14.6 per cent at the end of June. Including existing bond investments, the bank’s loan growth is projected at about 14.4 per cent, well surpassing the central bank’s (SBV) temporary 10 per cent cap. Squeeze in allotted credit room for commercial banks, source: TNCK Likewise, MBBank’s parent bank’s individual increase in client loans was 14.25 per cent at the end of June, which is close to the 15 per cent credit ceiling set by the SBV. However, as MB is rumoured to be a potential acquirer of one of three struggling local institutions, the bank is likely to be awarded a greater credit limit thanks to any deal. Over the same time, customer loan growth at ACB surpassed 9.8 per cent, although the rise in total credit outstanding for the whole year was just 10 per cent. Vietcombank’s deputy general director Nguyen Thanh Tung said that the bank was temporarily given a credit growth limit of 10 per cent this year, but … [Read more...] about Squeeze in allotted credit room for commercial banks