“Rural roads are critical to supporting the country’s agriculture sector, which accounted for more than 15% of the country’s gross domestic product in 2015, and employs—directly or indirectly—about half of the workforce,” said ADB Senior Rural Development Specialist Mr. Lee Ming Tai. “ADB’s Rural Connectivity Improvement Project will support the government’s current Seventh Five Year Plan, which focuses on boosting rural incomes as well as agriculture’s contribution to economic development.”About 80% of the country’s population lives in rural areas and depends on agriculture for its livelihood. But the sector is held back by several major constraints, including insufficient rural transport, inadequate market infrastructure, and more intense floods and cyclones related to climate change.Only about 40% of the rural population has access to all-weather roads, and these roads make up only 28% of the total length of … [Read more...] about Bangladesh improves rural road network for 51.5 million people
Senior year planning guide
Weekly roundup: Development plans, expat income, October tips and more
Vietnam 16th top country for expat earnings: HSBC survey An annual HSBC survey says expats in Vietnam earn an average of $90,408 a year, ranking 16th in the world. Vietnam should prioritize local factories for high-speed railway: senior official The north-south high-speed railway should be seized as an opportunity for the country’s manufacturing sector and labor, a senior official says. Why October is the best time to touch down in Vietnam October is here and many of Vietnam’s travel destinations are shining brightly. Here are five reasons why the country is worth having on your itinerary. Tickle your taste buds at Hanoi market food court Hanoi’s Thanh Cong Market may not have made it to travel guide bucket lists, but its lure is irresistible to the capital’s foodies. HCMC officials not keen on city expansion An expert says HCMC needs to become bigger to tackle several ongoing problems, but municipal authorities are not enthused. … [Read more...] about Weekly roundup: Development plans, expat income, October tips and more
Banks begin tightening screws on property credit
The central bank has instructed commercial banks to maintain credit growth in these sectors within safe limits.— Photo zing.vn Huynh Quang Khanh invests in real estate by leveraging credit. Seventy per cent of his investment comes from banks. He has borrowed VND1 billion at an interest rate of 9.5 per cent from a bank in Tan Phu District and also asked some of his relatives to borrow on his behalf from that bank. Khanh, 54, of HCM City’s Tan Phu District, said he was told by the lender that the interest rate had been increased to 12 per cent. “I am looking to sell some of my land to reduce the loans because I am afraid the interest rates would continue to rise and I will be unable to afford,” he said. While Khanh complains about the increase in the rates, Nguyen Cong Tang of Thu Duc District is unhappy that a bank refused to lend him 70 per cent of the value of a house he wants to buy. He said in the past the bank was always ready to lend him the money but now … [Read more...] about Banks begin tightening screws on property credit
GMS leaders reaffirm commitment to enhancing economic cooperation
They made the reaffirmation in a Joint Statement adopted at the sixth GMS Summit held in Hanoi on March 31. Heads of delegations at the GMS 6 in Hanoi on March 31 The following is the full text of the Joint Statement. THE SIXTH GREATER MEKONG SUBREGION SUMMIT Hanoi, Vietnam 31 March 2018 Joint Summit Declaration Leveraging 25 Years of Cooperation for a Sustainable, Integrated and Prosperous GMS WE, the Heads of the Governments and delegations of the Kingdom of Cambodia, the People’s Republic of China, the Lao People’s Democratic Republic, the Republic of the Union of Myanmar, the Kingdom of Thailand, and the Socialist Republic of Vietnam, on the occasion of the Sixth GMS Summit: Acknowledging the successful results of the GMS Economic Cooperation Program as we celebrate its 25th Anniversary and embracing a new era of development in the subregion; Appreciating that success has been achieved with strong ownership and commitment of GMS countries, … [Read more...] about GMS leaders reaffirm commitment to enhancing economic cooperation
GMS countries issue Joint Declaration
THE SIXTH GREATER MEKONG SUBREGION SUMMIT Ha Noi, Viet Nam 31 March 2018 Joint Summit Declaration Leveraging 25 Years of Cooperation for a Sustainable, Integrated and Prosperous GMS WE, the Heads of the Governments and delegations of the Kingdom of Cambodia, the People’s Republic of China, the Lao People’s Democratic Republic, the Republic of the Union of Myanmar, the Kingdom of Thailand, and the Socialist Republic of Viet Nam, on the occasion of the Sixth GMS Summit: Acknowledging the successful results of the GMS Economic Cooperation Program as we celebrate its 25th Anniversary and embracing a new era of development in the subregion; Appreciating that success has been achieved with strong ownership and commitment of GMS countries, featuring principles of consensus, mutual respect, equality, mutual consultation and coordination, common contributions and shared benefits, and win-win cooperation; Recognizing new opportunities and emerging challenges … [Read more...] about GMS countries issue Joint Declaration