Hcm

Ho Chi Minh City received 1.45 billion USD of overseas remittances in the first three months of this year, up 10 percent over the same period last year, reported the city Committee for Overseas Vietnamese Affairs.

At the signing ceremony (Photo: VNA)

HCM City (VNA) – The People’s Committee of Ho Chi Minh City and the Singaporean Ministry of Education will cooperate in general and higher education under a memorandum of understanding ( MoU ) reached on April 9.

The document was signed by Vice Chairman of the municipal People’s Committee Duong Anh Duc and Singapore an Consul General in HCM City Ray Kho.

For general education, the two sides will exchange knowledge and work together to improve the quality of teachers and education managers, while stepping up IT applications in teaching.

They will also cooperate to raise the quality of higher education in HCM City and encourage joint research projects.

The MoU is set to take effect for five years and would be expanded for another five years with consensus of the two sides./.

Illustrative image (Source: VNA)

HCM City (VNA) – The index of industrial production (IIP) of major industries in Ho Chi Minh City increased 7.5 percent year-on-year in the first quarter of this year, 3.7 percentage points higher than the sector’s overall growth.

Such figures reflect the fact that COVID-19 has been contained in the city and an optimal business and production environment created for enterprises.

Nguyen Nguyen Phuong, head of the bureau of planning and finance under the municipal Department of Industry and Trade, said the city’s IIP in March jumped 29.4 percent month-on-month and 2.2 percent year-on-year.

The index rose 3.8 percent year-on-year in the first quarter.

Among major industries, increases were seen in electronics production, of 24.7 percent; food, foodstuff, and beverage processing 14.5 percent; and mechanics 1.8 percent. Only pharmaceutical chemistry-rubber-plastics posted a year-on-year decline, of 3.9 percent.

Between January and March, businesses in the southern metropolis exported 10.73 billion USD worth of goods, an increase of 2.2 percent year-on-year, while imports were valued at about 13.63 billion USD, up 17.7 percent.

To facilitate the operations of enterprises, the city has adopted a host of mechanisms and policies, helping them revamp machinery, equipment, and technology, train personnel, and expand markets.

It has also worked to create opportunities for enterprises to attract investment from domestic and foreign economic sectors.

According to Bui Ta Hoang Vu, Director of the municipal Department of Industry and Trade, in the second quarter, HCM City will roll out plans on the implementation of approved projects and programmes, including a project on e-commerce development, one on logistics development, and another on export development by 2025 with a vision towards 2030.

It will also carry out multiple activities in support of major industries as well as those boasting great potential, he said./.

The city received 6.1 billion USD in remittances last year, up 15 percent against 2019. This not only provided funding for local production and business but also added to the city’s foreign reserves.

There are currently some 2 million residents in HCM City living overseas.

The exchange rate between the VND and the US dollar has been stable in recent times, so recipients tend to sell them to credit institutions.

Several banks use remittance payment technology and offer services to change foreign currencies into VND for savings at a high interest rate.

Over recent years, remittances have come not only in the form of savings but also in securities, real estate, share purchases, or business establishment.

Banks have also enhanced the use of technology and offered promotions to attract more customers. For example, Sacombank has cooperated with partners in the US, Australia, Europe, Japan, and Taiwan (China), and adopted API technology allowing quick payments around the clock. Recipients can receive their remittances in no more than a minute./.