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Since the end of 2018, the application of the hotline repair technology has brought many practical benefits and effects in repairing and maintaining the power system as it can manipulate directly on the grid without power cuts. The Hung Yen hotline repair team works on the grid Works on the grid have been actively and flexibly implemented by the Hung Yen hotline repair team, contributing to saving time, reducing incidents and minimizing power losses. It has also contributed to increasing labor productivity, enhancing power supply reliability and improving indicators in electricity access to meet the increasing demand of users, especially agencies and trade and production units. The Hung Yen hotline repair team currently has nine members, who were carefully recruited, meet health conditions and have high professional knowledge and good skills. To meet job requirements, they were sent to train at the request of the Northern Power Corporation under the Vietnam … [Read more...] about Hung Yen Power Company strives for reliable power supply

Illustrative image. (Photo: SGGP) From December 1, some commercial banks have continued to raise deposit interest rates sharply by more than 1 percent per annum compared to before. Specifically, VietCapital Bank continues to adjust deposit interest rates in some terms by 0.8-1.1 percent to the highest level of 9.5 percent per annum. This is the bank's third adjustment since September 2022. VietCapital Bank increased the deposit interest rates for six and 12-month terms from 7.6 percent and 8.2 percent per annum to 8.4 percent and 9.2 percent per annum. Meanwhile, long-term deposits of 18, 24, 36, 48, and 60 months have risen to 9.4 percent per annum. Especially, if depositing money online, customers will receive an interest rate of 8.8 percent per annum for a six-month term, 9.4 percent per annum for a 12-month term, and 9.5 percent per annum for a 24-month term. It is also the highest interest rate at VietCapital Bank applied to personal deposits. Not only increases interest … [Read more...] about Bank deposit interest rates still climb continuously

Addressing the event, President of the Vietnam-Romania Friendship Association (VRFA)'s chapter in Ho Chi Minh City Nguyen Truong Giang said Romania is one of the first countries to officially recognize the Democratic Republic of Vietnam and has always supported and assisted the Vietnamese people during their struggle for national independence and reunification as well as their current construction and defense. In addition to providing aid in the fields of construction, oil and gas, and railway, Romania has trained more than 4,000 students and post-graduates for Vietnam, many of them have become experts and managers with great contributions to the country’s development, he added. Over the past years,  the municipal VRFA has carried out many activities to support the Romanian Embassy in Vietnam and acted as a bridge to promote solidarity, friendship and cooperation between the people of Ho Chi Minh City and Vietnam and their Romanian peers. For her part, Romanian Ambassador to … [Read more...] about Romania’s National Day celebrated in Ho Chi Minh City

Hoang announced his decision right after Vietnam's 2-1 win against Dortmund, which was considered a tribute match for him after he expressed his feeling that he was no longer fit enough to play for the national team. "The fans often said that I'm tireless and have no lungs. But the truth is I have lungs and every journey has an end. I want to conclude my wonderful journey that is filled with the most beautiful memories," Hoang wrote in a farewell letter. Nguyen Trong Hoang makes a pass in the friendly match between Vietnam and Borussia Dortmund in Hanoi on November 30, 2022. Photo by VnExpress/Hieu Luong Hoang had stopped playing in September last year to treat a herniated disc. After over a year, he returned to the field on October 18 this year and played a few V. League matches before receiving a call up to the national team. Hoang played his first game for the national team in September 2009. In 14 years, he made 73 appearances, only behind Le Cong Vinh with 83 … [Read more...] about Veteran Vietnam midfielder retires from national team after 14 years

This year Vietnam has exposed and corrected violations in these markets to "protect the rights of citizens and businesses," he said at a government meeting Thursday morning. Arrests of real estate and property company leaders allegedly involved in bond fraud have disrupted the bond market in recent months, with many companies buying back their issued bonds in fear of legal entanglement. Businesses have been complaining that they lack access to the credit needed for expansions because bond issuance is no longer a viable fundraising option. Depositors have been withdrawing their money from banks to protect their assets, which makes it difficult for companies to acquire loans. But PM Chinh said that the current crackdown would change these "short-term" problems. He added that three state task forces were now tackling capital issues in the property and bond markets. Minister of Finance Ho Duc Phoc, charged with solving the bond market problem, said earlier that bond issuers … [Read more...] about Vietnam needs to ‘protect’ citizens with market ‘rectifications:’ PM

The Vietnam Textile and Apparel Association (Vitas) forecasts that the business results of textile and garment enterprises in the fourth quarter will decline compared to the same period last year due to the impact of many geopolitical factors. Importers in the United States, EU, and Japan have been lowering prices and reducing orders. Despite this, textile and garment exports in the first 10 months of 2022 reached $37.9 billion, up 17.2 per cent over the same period last year. Textile groups at pains to regather momentum, source: shutterstock Vitas chairman Vu Duc Giang said, “Enterprises’ warehouses are full and inventories are so large that many customers are forced to stop ordering or even delay the delivery time. Businesses are missing 35-50 per cent of orders for November and December.” The outlook for apparel orders in 2023 is clouded by the effect of the inventory cycle extending from Q4. This is also an indicator that the textile and garment industry will face … [Read more...] about Textile groups at pains to regather momentum

The Ministry of Health (MoH) is to work on a law on medical devices to increase efficiency of state management and create more favourable conditions for businesses. The focus is expected to be market authorisations (MAs) and drug tenders. Some legal barriers are expected to be settled imminently when in early November, Deputy Prime Minister Vu Duc Dam signed Resolution No.144/NQ-CP on ensuring drugs, medical equipment, and reimbursement of healthcare costs and health insurance. The government asked the ministries of health, finance, and planning and investment to quicken amendment and supplementation of legal documents related to purchasing, tenders, manufacturing, and import of drugs and medical devices to deal with the legal barriers. Decree 98 will affect medical devices from various major markets, Le Toan The MoH is asked to work with the Ministry of Justice and other relevant ministries and agencies on preparation for building of draft amendments to the Law on … [Read more...] about Hopes rise for legal medical reform

Marketing authorisations (MAs) have been a pressing issue among multinationals and the Vietnamese government and the Ministry of Health (MoH) has made a number of actions to deal with it. What is the current situation? Tran Ngoc Anh, representative of the US-ASEAN Business Council Member companies of the US-ASEAN Business Council highly valued the issuance of Resolution No.12/2021/UBTVQH15 at the end of 2021, which enabled the continued use of MAs scheduled to expire before the end of 2022. The MoH then issued a list of about 10,000 drugs with MAs expired in 2021 and extended until the end of 2022, thus creating favourable conditions for the drugs to continue their imports into Vietnam and ensuring supply for hospitals to meet examination and treatment demands. Until now, all the issues related to MA for the drugs in 2022 have been dealt with. However, starting from January 2023, these 10,000 drugs and around 8,000 others will then expire. We are very concerned about … [Read more...] about The legal adaption measures expected from pharma groups

The Law on Land (LoL) and the Law on Residential Housing (LoRH) issued in 2013 and 2014, respectively, are among the main laws applicable to the property market. However, due to certain restrictions in the legal framework, foreign investment in Vietnam’s property market has not reached the level expected by authorities. The authorities are in the process of amending both laws, and the draft amendments have been published for public consultation. Thang Nguyen-Special counsel, ACSV Legal Foreign investors can put money into Vietnam’s property market through directly buying and reselling residential houses, developing real property projects for sale or for lease, or acquiring existing projects. For non-nationals looking to buy residential properties in Vietnam, the draft amended laws contain no notable change compared to prevailing laws. Currently, the total number of units owned by foreigners must not exceed 30 per cent of the total number of units in one condominium … [Read more...] about Law tweaks can allure real estate investors

Vietnam’s urbanisation has grown by 7 per cent since 2011, and now the country’s urban population stands at 38 per cent. Prospects suggest populations in Ho Chi Minh City and Hanoi will expand by 4 million and nearly 3 million, respectively, over the next decade. Brandon Chia-Managing director, Sustainable Energy Solutions, SP Group At this rate, the Ministry of Construction expects housing demand to significantly rise by 70 million square metres each year. This is equivalent to 17,500, 30-floor buildings annually. To slow the harmful effects of construction and urbanisation to the environment, the government started to incentivise the construction of more energy-efficient buildings in line with the country’s National Green Growth Strategy as Vietnam commits to achieve net-zero emissions by 2050. However, in 2021 the nation recorded just over 200 green building projects. Buildings in Vietnam account for up to 40 per cent of the country’s total energy consumption. … [Read more...] about Enabling green building development in Vietnam