Government supported programs

This decree provides interest rate support for loans in Vietnamese đồng arising from lending activities of commercial banks to enterprises, co-operatives and business households. — Photo thoibaotaichinhvietnam.vn HÀ NỘI — The Government has officially issued Decree 31/2022/NĐ-CP on interest rate support from the State budget for loans of enterprises, co-operatives and business households. This decree provides interest rate support for loans in Vietnamese đồng arising from lending activities of commercial banks to customers that are enterprises, co-operatives and business households according to Resolution 43/2022/QH15 dated January 11 of the National Assembly and Resolution 11/NQ-CP dated January 30 of the Government. The State budget shall fully and promptly allocate funds for interest rate support for commercial banks to provide interest rate support to customers. Commercial banks provide interest rate support to ensure compliance with regulations, creating favourable … [Read more...] about Decree on 2% interest rate support package officially issued

What were the key challenges in cash transactions during the past couple of years, and how important were cashless solutions for your customers at that time? Phillip Alexander Wray, general manager of DKSH Pharma Vietnam As we enter the digital era, cash transactions are no longer the only payment option in most parts of the world. Yet, it has remained a preferred choice in many Asian countries, including Vietnam. However, with the rise of the pandemic, contactless transactions have been strongly recommended by the government to minimise the risk of virus transmission. As the leading market expansion services provider in various industries, DKSH has been working with a vast network of customers who are not only big supermarket chains and convenience stores, but also many traditional and mom-and-pop stores across dozens of countries. During the pandemic, we have witnessed a drastic switch from cash-in-hand to non-cash transactions in a very short time, which … [Read more...] about DKSH supporting health innovation

Deputy Prime Minister Le Van Thanh speaks at  the third session of the 15th National Assembly On the morning of May 23, at the opening session of the third session of the 15th National Assembly, Deputy Prime Minister Le Van Thanh delivered a report on an additional assessment of the results of the implementation of the socio-economic development plan and the state budget in 2021 and that in the first months of 2022. Regarding additional results in 2021, the Government stated that 5/12 targets failed to meet the set goal. For instance, the gross domestic product growth rate reached 2.58 percent compared to the target of about 6 percent. Plus, GDP per capita reached US$3,680 against the target of $3,700, the contribution of total factor productivity to growth is about 37 percent compared with the target of 45 percent-47 percent, and the percentage of poor households with a multidimensional approach decreased by 0.52 percentage points compared to the target of 1-1.5 percentage … [Read more...] about This year’s economic growth target of 6 percent-6.5 percent huge challenge

At the Sunday preparatory session of the National Assembly, while discussing a Cinema Bill, lawmakers considered various ways to fund development of local cinema. A draft of a decree they created said the government would contribute to initially establishing a fund. Then more funding would be raised through voluntary contributions, sponsorships and other sources, it said. Finally, 3 percent would be deducted from ticket sales of foreign movies, 3 percent of film classification fees would be drawn, as would 1 percent of popular movie subscriptions, 0.05 percent of pay-TV subscriptions, 0.5 percent of revenues from advertising on film programs television, and 5 percent of post-audit fee, the decree said. Phan Viet Luong, deputy chairman of the House Committee for Culture and Education, said the fund would support the development of cinema, meeting the aspirations of the industry. Many countries have similar funds, he said. Luong said in the house that his committee is still … [Read more...] about Lawmakers mull creating fund for cinema development

Deputy Prime Minister Le Minh Khai (first on the left) is investigating the construction site of Provincial Road No.910 in Can Tho City. (Photo: SGGP) The Transport Ministry reported that the land compensation step in the first stage of the mega North-South Expressway project has finished. However, some technical infrastructure has not been fully moved. The total expense for construction until now has reached VND20,087 billion ($867 million), accounting for 35.4 percent of the contract value, and 0.7 percent later than the planned one. The disbursement volume for the four projects to be completed this year is 53.4 percent of the contract value, which is 2.6 percent later than expected. In the Southern region, the 21-kilometer coastal road project from Rach Gia City to Hon Dat District of Kien Giang Province has the total investment of VND600 billion ($26 million), and is planned to complete two years after its commencement date of January 2020. Since the construction work is … [Read more...] about VN determinedly stops slow public investment projects

During the recent wave of the COVID-19 pandemic, Trade Union 230 members in Ho Chi Minh passed away due to the pandemic. One hundred ninety four children, including 95 under-ten ones, are directly affected by the pandemic’s consequences. So far, the Labor Federation of Ho Chi Minh City has completed essential procedures to hand over savings books to 114 pandemic-affected children in the first phase. At the event, the municipal Labor Federation presented 110 savings books, worth VND 10 million each, to 110 pandemic-affected children of Trade Union members and four savings books, worth VND 20 million each, to children strongly affected by the pandemic. In addition, Vietcombank gave VND 5 million each to four strongly pandemic-affected children and VND 1 million each to the rest. The savings accounts will be opened and handed over to the children when they are 18 years old. Annual interest will be directly transferred to the child's caregivers or guardians’ Vietcombank payment … [Read more...] about Savings books given to pandemic-affected children

"The United States and Japan, together with 11 other nations will be launching" the Indo-Pacific Economic Framework for Prosperity, or IPEF, Biden said at a press conference alongside Japanese Prime Minister Fumio Kishida. "This framework is a commitment to working with our close friends and partners in the region on challenges that matter most to ensuring economic competitiveness in the 21st century," he said. Biden was due to make a formal rollout of the framework later Monday. He did not say what countries had already signed up to IPEF, which the White House is billing as a framework for what will ultimately become a tight-knit group of trading nations. Unlike traditional trade blocs, there is no plan for IPEF members to negotiate tariffs and ease market access -- a tool that has become increasingly unpalatable to U.S. voters fearful of undermining homegrown manufacturing. Instead, the program foresees integrating partners through agreed standards in four main areas: the … [Read more...] about Biden says 13 countries to join new Asia-Pacific trade framework

Be proactive in an uncertain world Da Nang tourism blooms with series of top products and services Privilege of living in 'urban wonder': Vinhomes Ocean Park 2 - The Empire Vinhomes launches the mega-urban project - Vinhomes Ocean Park 2 - The Empire AES Corporation and PV Gas granted Investment Registration Certificate for Son My LNG Terminal With 150 years of global history and presence of more than 25 years in Viet Nam, many Royal FrieslandCampina (RFC) products have become household brand names in the country, like Dutch Lady, Fristi and Friso. Returning to Viet Nam for the first time after the pandemic, Roel van Neerbos, President of F&B, RFC says besides high product quality it is the nourishing mission “for our farmers, our people and our consumers,” that ensures sustained success. Our congratulations on RFC’s 150th anniversary, surely a historical milestone for a global nutrition leader. To start off, please explain RFC’s “Nourishing by … [Read more...] about Nourishing all stakeholders key to sustainability: RFC President

At his meeting with British Cabinet Minister and President for the 26th United Nations Climate Change Conference (COP26) Alok Sharma, Khai said that Vietnam has been implementing many overall and comprehensive measures in the field of energy transition and growth model transformation towards a green and circular direction to realise commitments made at COP26. The official underlined that ensuring energy security for growth and reducing emissions at the same time is a very complicated problem that requires the support of the international community in terms of resources, technology, and governance capacity. Therefore, he said that Vietnam hopes that the UK, the European Union (EU) and other member states of the Group of Seven (G7) will soon make specific commitments to supporting Vietnam in this area. For his part, Sharma held that Vietnam has made a proper decision to announce the net-zero emission commitment at the COP26, lauding Vietnam’s efforts to realise the commitments, … [Read more...] about Deputy PM busy on threshold of WEF meeting

Deputy Prime Minister Lê Minh Khái meets WEF President Borge Brende on the sidelines of the 52nd World Economic Forum. —VNA/VNS Photo GENEVA — Deputy Prime Minister Lê Minh Khái on May 22 held several bilateral meetings with leaders of international organisations and businesses during his trip to Geneva to attend the 52nd World Economic Forum (WEF) annual meeting. At his meeting with British Cabinet Minister and President for the 26th United Nations Climate Change Conference (COP26) Alok Sharma, Khái said that Việt Nam had been implementing many overall and comprehensive measures in the field of energy transition and growth model transformation towards a green and circular direction to realise commitments made at COP26. The official underlined that ensuring energy security for growth and reducing emissions at the same time was a very complicated problem that would require the support of the international community in terms of resources, technology, and governance capacity. … [Read more...] about Deputy PM busy with meetings on threshold of WEF summit