Reach up

A representative from the company congratulated her and highlighted that she is the first Vietnamese woman to reach the summit of Everest, noting that this is a historic achievement for the Vietnamese climbing community. Nha, a lawyer from Ho Chi Minh City, aspires to conquer the 'Seven Summits' - the seven highest mountains in the world. In January this year, she successfully conquered Vinson Massif, which stands at a height of 4,892 meters, the highest peak in Antarctica. It was challenging for her to hike uphill in the bitter weather while carrying a 70-liter pack. It is expected that Nha and her climbing team will return to base camp on May 17, after descending the mountain. According to The Himalayan Database's latest list, as of December 2021, only three Vietnamese men have successfully ascended Mount Everest. Everest is the world's tallest mountain, 8,848.86 meters above sea level. After the Nepal earthquake on April 25, 2015, the mountain has lost 2.4cm in height and … [Read more...] about First Vietnamese woman reaches summit of Mount Everest

Institutions have become a major impediment to the nation’s aspiration to reach high income by 2045. Vietnam needs to shift its economic growth model and improve the government’s capacity to implement economic policy reforms and public investments, realizing its aspiration of reaching high-income status by 2045, a World Bank Group report says. Overview of the report launch. The World Bank Group’s Systematic Country Diagnostic Update, themed "How Will Vietnam Blossom? Reforming Institutions for Effective Implementation,” emphasizes that Vietnam's traditional growth model faces major challenges from the Covid-19 pandemic, slowing globalization, and the country’s increasing vulnerability to external shocks, especially climate risks. After identifying a series of policy responses and reform priorities, many of which are not new, the report argues that adapting institutions will be the key to success. “Vietnam’s GDP per capita has increased fivefold over the … [Read more...] about Effective policy implementation crucial for Vietnam to reach high-income status by 2045: WB

The National Center for Hydro-meteorological Forecasting released a warning against medium to extremely high ultraviolet (UV) radiation levels in all three regions of Vietnam on Wednesday. An UV Index reading of three to five is medium, six to seven is high, eight to 10 is very high, and above 10.5 means extremely high. All of those UV index levels can cause harm to skin and eyes upon long unprotected sun exposure. The northern localities will suffer moderate to very high UV index levels while provinces and cities in the central and southern regions will experience high to very high UV radiation benchmarks, according to the forecast. The index was measured at 4.5 in northern Hai Phong City, 6.8 in northern Quang Ninh Province, 9.1 in Hanoi, 6.4 in central Thua Thien-Hue Province, 9 in central Quang Nam Province, and 8.1 in central Da Nang City from 11:00 am to 1:00 pm on Wednesday; and 6.6 in Ho Chi Minh City, 8.1 in Can Tho City, and 7.7 in southernmost Ca Mau Province … [Read more...] about UV index reaches very harmful levels in Hanoi, Ho Chi Minh City

Speakers at a conference discuss how improving institutional performance can help Viet Nam achieve its target of reaching high-income status in 2045. — VNA/VNS Photo Viet Nam must seek to adapt its economic growth model while drastically improving the Government's capacity to coordinate and implement economic policy reforms and public investments to realise its objective of reaching high-income status by 2045, said a recent World Bank (WB) report. The report emphasises the major challenges faced by Viet Nam's traditional growth model during the COVID-19 pandemic, slowing globalisation and the Southeast Asian economy's increasing vulnerability to external shocks, especially climate risks. The key to addressing said issues, according to WB, is for the country's institutions to adapt and improve. “Viet Nam's GDP per capita has increased fivefold over the past three decades, while its institutions have not adapted at the same speed since the Doi Moi (Renewal) course of the late … [Read more...] about Institutional reforms key to reaching high-income status

Vietnamese archers show their determination before entering competitions at SEA Games 31. (Photo: VNA) Hanoi (VNA) – Vietnamese archers on May 17 were qualified for the finals of the men’s and women’s teams recurve at the ongoing SEA Games 31 on home soil. In the men’s team recurve, Nong Van Linh, Nguyen Duy and Chu Duc Anh took down their Philippine rivals 5-4 and will face defending champions Indonesia in the final. The Vietnamese women’s team, which is the gold medallist of the previous SEA Games, will face the Philippines in the final after a 6-2 win over Malaysia. After three days of competition, Vietnamese archers have booked their spots in the finals of four events and five bronze medal matches. They will compete in the finals of the women’s individual and team compound on May 19. At SEA Games 30, Vietnam claimed three gold, two silver and one bronze medal in archery . This year, the team targets 2-4 golds across 10 events. SEA Games 31 , themed “ … [Read more...] about Vietnamese archers reach team recurve finals of SEA Games 31

Hanoi’s economy is recovering Major balances ensured According to a report by the Hanoi People’s Committee, key industries are gradually recovering and developing from the impact of the COVID-19 pandemic. Hanoi’s gross domestic product in the first quarter of 2022 increased by 5.83 percent, 16 percent higher than the country average (5.03 percent), three times higher than that of Ho Chi Minh City (1.88 percent), achieving the quarterly growth forecast (5.7-6.2 percent). These figures reflect the growth momentum in many industries and fields. Many major balances have been ensured. The total state budget revenue of Hanoi in the first quarter of 2022 exceeded VND102.40 trillion, or 80.2 percent of the revenue estimate, representing a rise of 9.2 percent against the same period last year. Regarding investment capital disbursement, Hanoi disbursed more than VND4.11 trillion, reaching eight percent of the plan (up by 26.7 percent over the same period last year) as of March … [Read more...] about Hanoi makes strides in economic recovery

Chairman of the Ho Chi Minh City People's Committee Phan Van Mai speaks at the conference (PHoto: SGGP) Speaking at the conference, Chairman of the Ho Chi Minh City People's Committee Phan Van Mai said that the disbursement progress has so far achieved 11 percent, which is lower than last year with 17 percent. He added that many units have had low disbursement rates; therefore, all units and investors must clearly define their responsibilities, review each project, and solve any problems to ensure progress, not accumulate at the end of the year. In order to speed up the progress of projects, Chairman Phan Van Mai asked the units to report in detail and analyze each project for solutions. Reporting at the conference, Director of Ho Chi Minh City Department of Planning and Investment Le Thi Huynh Mai said that most of the units with too low disbursement rates do have not much capital and are currently in the process of implementing procedures, so they have not completed the … [Read more...] about HCMC People’s Committee asks to remove difficulties, accelerate disbursement

In Q1, Thai Nguyen Iron And Steel JSC (TIS) witnessed its profit down by 35 per cent, to only VND29.2 billion. — VNA/VNS Photo The cost of raw materials and transportation fees have skyrocketed, causing the first-quarter profits of most steel companies to decline. Data from the Viet Nam Steel Association (VSA) showed that in the first quarter of this year, finished steel consumption reached 8.137 million tonnes, up 11.9 per cent over the same period in 2021. Of the estimate, steel exports reached about 2.275 million tonnes, with export value reaching US$2.3 billion, decreasing by 22.15 per cent in volume but up by 12.53 per cent in value over the same period last year. However, the business performance of many enterprises in the industry did not move in the same direction. The first-quarter business results report of Viet Nam Steel Corporation (TVN) showed a sharp decline in profit at member units, especially in the construction steel and galvanised steel segments. In the … [Read more...] about Steel companies report decline in Q1 profits

The lobby of OfficeHaus in Tan Phu District, HCM City. The city's office market recovers after two years being affected by COVID-19 pandemic. — Photo courtesy of OfficeHaus After a two-year slump due to COVID-19, the HCM City office for lease market is showing positive signs with demand increasing in all segments. A CBRE report said there was good recovery in the office market with total net absorption in the first quarter of 17,000 square metres (sq.m), equivalent to 32 per cent in 2021. Relocation accounted for 55 per cent of the transactions, lease renewal for 25 per cent and expansion for 20 per cent, it said. There were transactions for large areas in some high-quality grade B buildings in both the CBD and other hubs such as Thu Thiem new urban area, District 7 and District 10, the company said. Savills said demand for office space was 16,500sq.m compared to just 1,500sq.m in the fourth quarter of 2021. It partly attributed the increase to the city’s post-pandemic … [Read more...] about HCM City office market coming out of slump: property  consultancies

Le Thi Bao Tran, a young white-collar worker in Ho Chi Minh City, has spent the past eight years moving between rented rooms, doing her best to save up enough money to purchase a home of her own. Like other young, white-collar workers who have moved to Ho Chi Minh City to pursue their careers, Tran hopes to eventually purchase a home in the city, but the rising cost of real estate has kept that dream out of reach. A lifelong dream Tran spent her college years moving between rental apartments in Binh Thanh District. At one point, she shared a tiny 10-square-meter apartment with a friend for just VND1.1 million ($47) per month, including utilities. During the dry season, the apartment would heat up like an oven, and the putrid smell from a nearby garbage dump would waft through the windows. "If you closed the door, you could hardly breathe. If you opened the door, you still couldn’t breathe because of the horrible smell," she shared. Things were not much better in the … [Read more...] about Young Vietnamese turn to mortgages, installment plans to secure dream homes