Investment

Illustrative photo. (Photo: VNA) Hanoi (VNA) – Vietnam’s GDP growth will reach 8% this year in the base-case scenario , provided that there will be no upheavals in the market but favourable external factors for the economy during the remaining months of the year, according to Deputy Minister of Planning and Investment Tran Quoc Phuong. It was one of the two GDP scenarios for 2022 announced by the Ministry of Planning and Investment (MPI) at a routine government press briefing on October 1. In the worst-case scenario , the GDP will grow at 7.5%, provided that many challenges and uncertainties are expected in the fourth quarter of this year, Phuong told reporters. Commenting on Vietnam’s economic outlook for 2023, he said there will be both challenges and opportunities, but the former are likely to outweigh the latter and be even tougher in the wake of inflationary pressure worldwide and gloomy global economic outlook. He noted that global inflation, … [Read more...] about GDP growth to hit 8% this year in base-case scenario: Official

Illustrative image. (Photo: SGGP) It was one of the two GDP scenarios for 2022 announced by the Ministry of Planning and Investment (MPI) at a routine government press briefing on October 1. In the worst-case scenario, the GDP will grow at 7.5 percent, provided that many challenges and uncertainties are expected in the fourth quarter of this year, Phuong told reporters. Commenting on Vietnam’s economic outlook for 2023, he said there will be both challenges and opportunities, but the former are likely to outweigh the latter and be even tougher in the wake of inflationary pressure worldwide and gloomy global economic outlook. He noted that global inflation, particularly in major economies as well as Vietnam's key partners, is unlikely to ease over the next one or two months but certainly will linger on in 2023. The official also voiced concern over other threats to the Vietnamese economy, emphasizing the ongoing Russia-Ukraine crisis and non-conventional risks like storms, … [Read more...] about GDP growth to hit 8 percent this year in base-case scenario: Official

Accordingly, the nearly 52-kilometer-long project is divided into two sections, comprising a length of around 11.2-kilometer section of Rach Soi- Ben Nhat and around 40.62-kilometer long section of Go Quao- Vinh Thuan. Under the Vietnam road network plan for the period 2021 - 2030, with a vision for 2050, these sections have a scale of three to four lanes. However, based on the transport demand on the route and the allocation of capital in the medium-term public investment plan for the 2021-2025 period, the Ministry of Transport proposed to build the two sections of the highway under level-3 plain road model with a maximum speed of 80 kilometers an hour, total project investment of about VND3.9 trillion (US$164 million) from the state budget. The site clearance and resettlement for the project are expected to be implemented in 2022-2023, and the project will begin construction in 2023 and finish in 2025. By Nong Ngan- Translated by Huyen Huong … [Read more...] about US$164 mln proposed for construction of Ho Chi Minh Highway in Mekong Delta

MUSIC & PERFORMANCES Hanoi-Charity Classical Concert “Ryoma Quartet – New Life” Oct 9, 8 pm Concert hall, Vietnam National Academy of Music, 77 Hao Nam Street, Dong Da District From the organizer: Heading towards the 50th anniversary of the Japan – Vietnam diplomatic relation establishment, in the context where the relation between the two countries are seeing unprecedented growth both horizontally and vertically, Plando Vietnam and charity organisations hold the classical concert “Music night for Vietnamese children”, aiming to promote cultural exchange between the two countries, with all profit from ticket sales and donations sent to the fund “Building schools for children in the mountainous areas of Vietnam”. _______________________________________________________________________________ EXHIBITION Hanoi-In The Flow of Silk Until Oct 3 The Muse Artspace 47 Trang Tien Street From the organizer: Much like art in general, the flow of … [Read more...] about What’s on October 3-9/2022

NA Chairman visits the construction site of Long Thanh Airport project. (Photo: SGGP) Deputy Prime Minister Le Van Thanh and leaders of central ministries accompanied the delegation. On the side of Dong Nai Province, Secretary of the Provincial Party Committee Nguyen Hong Linh, Chairman of the Provincial People's Committee Cao Tien Dung, leaders of the Provincial People's Committee, and representatives of local departments participated. The delegation visited the resettlement area of Loc An - Binh Son and the Long Thanh Airport construction site, then worked with leaders of Dong Nai Province and Vietnam Airlines Corporation (ACV) afterward. At the meeting, Chairman of Dong Nai Provincial People's Committee Cao Tien Dung said that the Long Thanh Airport phase 1 project has more than 5,340 hectares and so far has been recovered and handed over 95 percent of the area, of which the prioritized area of 1,810 hectares have completed the compensation and basic support plan. For the … [Read more...] about NA Chairman checks construction progress of Long Thanh Airport project

Binh Phuoc has the largest area in the southern key economic region, holds strategic geographical location as a gateway for socio-economic and cultural exchanges between the southeast, the Mekong Delta and neighbouring Cambodia. Its gross regional domestic product growth amounted to 9.01% in the first nine months of this year, higher than the country’s average and topping the southeast’s. Participants were also impressed by the province’s revenue to the State budget and recovering exports. The number of firms resuming operation doubled the shut-down ones, contributing to generating jobs to nearly 37,000 workers. Binh Phuoc also completed the provincial planning for the 2021-2030 period with a vision to 2050. In order to welcome new investment flows in the near future, the province should make thorough preparations in terms of both hard and soft infrastructure, especially information technology and digitalisation, N.A. Chairman Hue said. According to him, Binh Phuoc should focus … [Read more...] about N.A. Chairman congratulates Binh Phuoc on achievements

A business-to-business (B2B) trade event was organised last week to connect companies from South Korea's Gwangju Province and Vietnamese importers. — Photo courtesy of KOTRA Hanoi A business-to-business (B2B) trade event was organised last week to connect companies from Gwangju – the sixth-largest metropolis of the Republic of Korea (RoK) – and Vietnamese importers. During the five-day event held by the Korea Trade and Investment Promotion Agency (KOTRA Hanoi), Gwangju businesses introduced their products of strength, including cosmetics, food and medical supplies. Lee Dahye from Unique Medicare Co Ltd said such event offers a good chance for Korean firms, especially those that have never exported to foreign countries, to explore information about foreign partners. KOTRA Hanoi has been employing online trade promotion events thoroughly to strengthen trade connection between the RoK and Viet Nam. Head of KOTRA Hanoi’s office Tran Thi Hai Yen said as of mid-September, KOTRA … [Read more...] about Gwangju businesses and Vietnamese importers seek trade opportunities

The first sample of chip made by FPT semiconductor. — Photo courtersy of FPT Viet Nam’s leading ICT company FPT Software has launched a new subsidiary, FPT Semiconductor, marking a key milestone for the company as it enters the booming semiconductor industry. Through the new subsidiary, FPT Software aims to gain a slice of Asia Pacific’s semiconductor market which accounts for 60 per cent of global sales. FPT Semiconductor released its first integrated circuits (ICs), designed in Viet Nam and manufactured in South Korea, in August 2022. These ICs will be used in Internet of Things (IoT) medical devices. By 2023, FPT Semiconductor plans to supply 25 million chips globally in seven types to meet diverse needs in telecommunications, IoT, automotive technology, energy, electronics, and others. According to a Technavio report, Viet Nam's semiconductor industry is estimated to exceed US$6.16 billion by 2024. FPT Semiconductor aims to become a supplier of Vietnamese brand chips for … [Read more...] about FPT Software produces made in Viet Nam chips

The event, part of activities to celebrate the 45th founding anniversary of ASEAN-E.U. ties, was hosted by the Embassy of Thailand in association with the ASEAN Brussels Committee. The three-session workshop focused on the fields of green development, connectivity, and trade and sustainable supply chain. Participants agreed on the significance of the ASEAN-E.U. strategic partnership, especially amid uncertainties in the regions and the world, along with emerging risks of supply chain disruption, food and energy security. E.U. delegates said the union will give priority to green and sustainable development, ensuring safety of supply chain and adaptation to fluctuations in the time to come, with ASEAN in general and its member countries being important partners of the E.U. It is to expand cooperation with ASEAN in green transition, renewable energy, climate change adaptation, infrastructure connectivity and digital transformation, among others. Chairing the discussion on … [Read more...] about ASEAN, E.U. discuss lifting cooperation to new height

HCM City is working to save Hưng Lợi Pottery Kiln, which has been damaged greatly due to the urbanisation process. Hưng Lợi Pottery Kiln was damaged due to locals taking pottery scraps and building house in the area. – Photo thethaovanhoa.vn Hưng Lợi Pottery Kiln, situated in District 8, was recognised as a national archaeological site in 1998 by the Ministry of Culture, Sports and Tourism. The site is divided into three sectors with 836 square metres of core area being strictly protected around a 10.000sq.m second area. However, these two areas have been leveled by residents in the district to plant trees and build houses. According to District 8's People’s Committee, after being recognised as a national archaeological site and barricaded for preservation purposes, land compensation issues arose for the people in the surrounding area. Nguyễn Thị Hậu, general secretary of the HCM City Historical Science Association, said that the area around the pottery kiln … [Read more...] about HCM City to preserve 300-year-old damaged relic site