Innovation

By 2025, Hanoi envisions becoming a highly competitive city in the region by restructuring the growth model based on technological advancement and innovation. Despite the severe Covid-19 situation, Hanoi continues to set a high gross regional domestic product (GRDP) growth of up to 7.5% during the 2021-2025 period. Hanoi from above. Photo: Pham Hung Given the city’s estimated GRDP growth at around 3.97-4.54% in 2021, this would require Hanoi to achieve an average growth rate of 8.25-8.4% for the 2022-2025 period. This was among two growth scenarios in Hanoi’s socio-economic development plan for the 2021-2025 period, which have been signed off by Secretary of the Hanoi's Party Committee Dinh Tien Dung. In a less optimistic scenario, the city is expected to average economic growth of 6.5-7% during the period. This case is based on the fact that Vietnam could only contain the pandemic in the fourth quarter of 2021 and achieve herd immunity by the second half …

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Young artists have come up with unconventional and refreshing ideas integrated with a personal touch to portray the unique beautiful traits of Hanoi. UNESCO has just announced the best works of the “Ha Noi is…” Illustration Contest. The painting entitled “Hanoi’s Street Vendors” by Dang Thai Tuan won the First Prize of the contest In a one-month registration period, which ended on September 9, about 250 young artists from across Vietnam and abroad have submitted their entries to the Illustration Contest “Ha Noi is…”. The contest was organized by the United Nations Educational, Scientific and Cultural Organization (UNESCO) in collaboration with UN-Habitat and the youth community Vietnam Local Artist Group (VLAG). With various illustration artworks about Hanoi, the young artists have joined hands to promote the capital as a Creative City, a title awarded to Hanoi by UNESCO in 2019. With the evocative theme “Ha Noi is…”, young artists have come up with …

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The private sector will be integral in Vietnam's recovery from COVID-19. Photo: baodautu.vn The Vietnam Country Private Sector Diagnostic (CPSD) report, by the International Finance Corporation (IFC) and the World Bank, says while the private sector has played a frontline role in Vietnam’s outstanding development in recent years, it is now time to fully exploit the potential of the private sector to boost productivity growth so Vietnam can achieve its goal of becoming a high-income country by 2045. “The private sector has helped propel Vietnam to join the ranks of middle-income economies in just one generation, and the country was preparing for its next economic transformation when the COVID-19 hit,” said Kim-See Lim, IFC regional director for East Asia and the Pacific. “With another wave, it’s all the more imperative for Vietnam to help develop a dynamic, diversified, and innovative private sector for the post-COVID 19 recovery phase, as public resources become scarce.” The …

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HCM City to implement third relief package worth 7.3 trillion VND Ho Chi Minh City will carry out the third relief package worth 7.3 trillion VND (around 320.7 million USD) sourced from the local budget to help more households and informal workers affected by the COVID-19 pandemic, said Vo Van Hoan, Vice Chairman of the municipal People’s Committee. Speaking at a press conference held by the city’s Steering Committee for COVID-19 Prevention and Control on September 20, Hoan said given complicated developments of the COVID-19 pandemic in the city and prolonged social distancing, people face more difficulties due to job loss and having no income. Therefore, in addition to the social security relief packages of the city's Vietnam Fatherland Front Committee and other organisations and individuals, the municipal People's Committee continues to implement the third relief package to help ease difficulties for local residents. According to reports from the People's Committees of …

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At the meeting (Photo: VNA) Hanoi (VNA) – The Government Inspectorate of Vietnam (GIV) hosted the 17th Secretariat Meeting of the ASEAN Parties Against Corruption ( ASEAN -PAC) group via videoconference on September 22. As the current rotating Chair of ASEAN-PAC, the GIV presided over the 17th ASEAN-PAC Secretariat Meeting in which members discussed cooperation results in the recent past, sought technical agreement on the revised draft memorandum of understanding between anti-corruption agencies in Southeast Asia, as well as prepared for important contents to submit to the 17th meeting of ASEAN-PAC slated for the end of this year. In his opening speech, Nguyen Tuan Anh, Director General of the International Cooperation Department of the GIV, highlighted that Vietnam has over the years fulfilled its role at regional and international arenas. Director General of the International Cooperation Department of the GIV Nguyen Tuan Anh (Photo: VNA) As Chair of ASEAN …

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A Vietjet Air plane (Photo: Vietjet Air) Hanoi (VNA) - Vietjet Aviation Joint Stock Company (HOSE: VJC) has released its half-year audited financial statements for 2021, which saw a bigger post-tax profit of the parent company over its compiled reports. According to the financial statement s audited by PwC, Vietjet as a parent company had its transport revenue reaching 5,022 billion VND (approx. 220 million USD) for the first six months of this year. Its profit after tax was reported at 34.2 billion VND (approx. 1.5 million USD), a year-on-year leap of 102 percent thanks to profits gained from new project investments. The airline’s audited after-tax profit has also increased by 148 percent compared to that in its compiled reports. Vietjet posted its consolidated revenue at 7,556 billion VND (approx. 332 million USD) while the consolidated profit after tax reached 121.8 billion VND (approx. 5.3 million USD), showing a remarkable year-on-year growth of 161 percent. …

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