I 70 traffic accident

The banking sector is set to continue promoting the use of non-cash payment methods with greater convenience and safety for the public. The State Bank of Vietnam (SBV) targets to have 65-70% of the public in the age group of 15 and above to have bank accounts this year. A customer at Nam A Bank. File photo The move was part of the central bank’s decision No.1097/QD-NHNN, mapping out the plan for digital transformation in the banking sector in 2022. Other objectives include 100% of online public services under the administration of the SBV being integrated into the national online public services portal; the rate of people and businesses using online public services related to banking and finance matters of 80%; and 100% administrative procedures are processed online. To push for these goals, the SBV is expected to draft a Government decree on supervising the operation of fintech and promote the use of online public services across the sector. In this … [Read more...] about Vietnam targets 70% of population to have bank accounts in 2022

The government in late March issued a decision to grant a financial support package of VND6.6 trillion ($287.4 million) to help migrant workers pay rent for up to three months. The package is to be given to 3.4 million people by mid-August. As approved by the government, each worker will receive VND500,000-1 million per month over no more than three months. Two groups of beneficiaries are those who have labor contracts and have contributed to social insurance premiums via their salaries; and those that are currently working at industrial parks, export-processing zones and economic zones in 24 cities and provinces: Hanoi, Hai Phong, Quang Ninh, Hai Duong, Hung Yen, Vinh Phuc, and Bac Ninh in the north, Thua Thien-Hue, Da Nang, Quang Nam, Quang Ngai, and Binh Dinh in the central region, and Ho Chi Minh City, Binh Phuoc, Tay Ninh, Binh Duong, Dong Nai, Ba Ria – Vung Tau, Long An, Tien Giang, Can Tho, Ca Mau, An Giang and Kien Giang in the south. Until now, 558,000 workers at … [Read more...] about Rental assistance package for workers disbursed at snail’s pace

The final round of a police command, shooting, and martial arts competition, joined by officers from 16 provinces and cities, kicked off in Hue Citadel in north-central Thua Thien-Hue Province on Monday. Organized by the Ministry of Public Security from Monday to Wednesday, the contest’s finals are aimed at celebrating the 60th anniversary of the traditional day of the People's Police force (July 20). A parade of the mounted police force in Hue Citadel, Thua Thien-Hue Province, Vietnam, July 4, 2022. Photo: N.Anh / Tuoi Tre The event attracts the participation of 1,500 officers from People's Police University and police units in Ho Chi Minh City, Can Tho, Lam Dong, Tien Giang, Gia Lai, Tra Vinh, Phu Yen, Quang Nam, Ba Ria-Vung Tau, Kien Giang, Quang Binh, Binh Duong, Dong Nai, Dak Lak, and Thua Thien-Hue. Female traffic police officers march during the opening ceremony of the police command, shooting, and martial arts competition’s final round in Thua … [Read more...] about Police parade, martial arts, shooting performances take place in Vietnam’s Hue Citadel

A facility of Petrovietnam Gas Joint Stock Corporation (PV GAS). PV GAS posted after-tax profit of nearly VND7 trillion (US$300 million) in the first six months of 2022. — VNA/VNS Photo Petrovietnam Gas Joint Stock Corporation (PV GAS) posted after-tax profit of nearly VND7 trillion (US$300 million) in the first six months of 2022, up 87 per cent compared to the target and 59 per cent year-on-year. Its before-tax profit reached over VND8.67 trillion (over $371.3 million) in the January - June period, up 87 per cent and 56 per cent, respectively. The firm produced and supplied over 1 million tonnes of liquefied petroleum gas (LPG) in the first two quarters of 2022, surpassing 23 per cent of the plan and equal to 99 per cent of that in the same period last year, accounting for about 70 per cent of the wholesale market share of the country. It also produced and supplied 56,800 tonnes of condensate, up 67 per cent compared to the plan and 85 per cent against the same period in … [Read more...] about PV GAS’ after-tax profit hits nearly $300 million in 6 months

On Wednesday, a workshop on improving packaging technology and design to enhance business competitiveness and efficiency was held in the southern province of Dong Nai. — Photo vtv.vn The packaging industry will benefit from the growth of e-commerce, and the free trade agreements that Viet Nam has joined, said Nguyen Duc Trung, deputy director of the Enterprise Development Agency, at a training workshop in the southern province of Dong Nai last week. This workshop was focused on improving packaging technology and design to enhance business competitiveness and efficiency. The training session is an activity within the framework of the USAID Improving Private Sector Competitiveness (IPSC) project, funded by USAID. The Ministry of Planning and Investment's Enterprise Development Agency is the project owner. It is designed to equip businesses with the latest information and knowledge on packaging technology and design, thereby supporting businesses to develop appropriate packaging … [Read more...] about Packaging industry benefits from e-commerce

Euro zone recession fears were exacerbated by concerns about an energy crisis in Europe and by Tuesday's data, which showed a sharp slowdown in business growth in June, following Monday's news of a seasonally adjusted May trade deficit in Germany versus expectations for a surplus. Oil prices suffered their biggest daily drop since March on growing fears of a global recession and lockdowns in China that could slash demand. Bipan Rai, North America head of FX strategy at CIBC Capital Markets in Toronto, cited signs of a looming energy crisis in Europe and economic concerns for the euro's tumble. "The threat of a recession in the euro zone is a more clear risk now relative to before," Rai said. The euro dropped by almost 1.8 percent against the dollar to $1.0236, its weakest level since December 2002. It was last down 1.48 percent against the dollar. Meanwhile the dollar index , which measures the greenback against a group of major currencies, was up 1.31 percent, after hitting … [Read more...] about Euro slumps to two-decade low, oil tumbles as recession fears intensify

The 29-year-old works in Hanoi’s flood-prone Cau Giay District. "After it flooded twice, I’m scared and have to check my weather app every day to make sure to return home early if it forecasts rain," she says, describing her experience of getting caught in the recent rainstorms as a "nightmare." The ride between home and office used to take 15 minutes, but these days it takes over one hour. In late May her bike broke down in the middle of a flooded street. She had to wait for the rainwater to ebb before calling a relative to come and help her push the bike home. The following morning she took a break from work to take her bike to a nearby repair shop and found three or four other customers waiting in line with the same problem. During the second flooding episode on June 13, luckily her bike did not break down. But she had to spend a lot of time driving in the chaotic traffic, which had come to a standstill on many streets. "Now, whenever it starts to rain, I return home … [Read more...] about When downpours turned life upside down in Hanoi

The Ministry of Planning and Investment (MPI) reported last week by the Vietnam Electronic Industries Association (VEIA) that Apple has moved 11 factories from Chinese businesses in the supply chain to Vietnam, while other assemblers like Foxconn, Luxshare, Pegatron, and Wistron are ramping up production capacity in Vietnam. Do Thi Thuy Huong, general secretary of the VEIA, said that the electronic components manufacturing industry of Vietnam has its own advantages for those looking to relocate supply chains out of China to neighbouring countries. “A number of high-tech groups have been cultivating their projects in the northern provinces of Bac Ninh and Bac Giang, and they will also do the same in some other potential localities,” Huong said. Last week Sandeep Mehta, president of India’s Adani Ports & SEZ, announced on behalf of Adani Group that it would pour $10 billion into Vietnam. It is part of a $100 billion package that Adani Group would like to invest overseas. … [Read more...] about Electronics giants leading foreign investment bounce

Read what is in the news today: Society -- Many commuters were stranded on the streets in Hanoi until midnight on Tuesday as an unusually heavy downpour inundated many roads and caused a traffic nightmare. -- Four people have remained missing after a flash flood triggered by a heavy rain swept them away in Bao Lam District, northern Cao Bang Province on Tuesday afternoon. -- A 20-year-old Vietnamese man holding a kitchen knife he had just borrowed from a friend to cut duck meat was suppressed by police in South Korea’s Gwangju City, Chosun Ilbo reported on Tuesday. The incident sparked a controversy over discrimination against foreigners in the East Asian country. -- The People’s Court of north-central Ha Tinh Province on Tuesday gave the death sentence to two men convicted of transporting nearly four kilograms of drugs. -- A drunken man was narrowly saved from being run over by a train as he tried to run across a level crossing in southern Dong Nai Province on … [Read more...] about Breakfast @ Tuoi Tre News — July 6

A factory of a mechanical engineering enterprise in Quang Ninh Province's Ha Long City. — Photo cokhitienmanh.vn Domestic mechanical engineering enterprises should strengthen cooperation to improve competitiveness and gain more market share, industry experts have suggested. Nguyen Quang Hieu, general director of PetroVietnam Marine Shipyard JSC (PV Shipyard), told Nhan Dan (The People) newspaper that there were enormous opportunities for mechanical engineering firms to tap into the lucrative local market with a scale of up to billions of dollars. Hieu cited offshore wind power projects as a good example. He said Vietnamese enterprises could produce offshore wind turbine foundations. Even a small-scale wind power project comprises about 30-40 turbines, and its turbine foundation system would need an estimated 300,000 tonnes of equipment. With each tonne equivalent to US$4,000, including the cost of materials, on average, there would be about $1.2 billion worth of market share … [Read more...] about Mechanical engineering firms urged to enhance cooperation