HCM CITY — HCM City is going to install more solar panels on the roofs of State administrative agencies and public service units. In 2021, with an output of nearly 300 million kWh, solar power in the city earned revenue of about VNĐ600 billion (US$25 million). Installation-related issues such as fire prevention, architecture and aesthetics must be handled to develop rooftop solar energy in the city, he said. When these details are clear, the procedure can be done quickly, and the city can enjoy more power from rooftop solar panels, he added. The city’s Industry and Trade Department said it is finishing procedures to install rooftop solar panels on State office buildings.

During India’s G20 Presidency, this has translated into a call for human-centric progress. Our G20 Presidency has played the role of a catalyst in these shifts. This was especially needed in the context of mainstreaming the marginalised aspirations of developing countries, the Global South and Africa. The G20 2023 Action Plan on Accelerating Progress on SDGs will spearhead the future direction of the G20 towards implementing SDGs. Ambitions for climate action must be matched with actions on climate finance and transfer of technology.

ASEAN countries must uphold the spirit of independence, self-reliance, self-resilience and respect for the rule of law, and stay steadfast to their fundamental principles and norms of conduct, he said. He affirmed that Vietnam will work closely with Laos, the Chair of ASEAN in 2024, to continue stepping up ASEAN's cooperation goals. The NA leader sought Japan’s continued supply of official development assistance (ODA) to Vietnam in socio-economic projects as well as its new-generation ODA programme for Vietnam, with preferential terms and simplified, flexible procedures. The host also committed all possible support for Japanese citizens and businesses to do business stably and successfully in Vietnam. Members of the Japanese House of Councillors described Vietnam as a top priority of Japan in its effort to diversify supply chains.

Participants in the ceremony held by the Vietnamese Embassy in Italy on September 5. (Photo: VNA)Rome (VNA) – The Vietnamese Embassy in Italy held a ceremony on September 5 night to celebrate the 78th anniversary of Vietnam's National Day (September 2, 1945 - 2023). Vice President of the Italian Senate Maurizio Gasparri told the Vietnam News Agency (VNA)'s correspondent that Italy wants to strengthen friendship and respects Vietnam. Italian companies have been present in Vietnam, particularly the Piaggio Group which has operated effectively in Vietnamese and Asian markets. At the ceremony, participants were treated to musical performances and Vietnamese foods./.

Revenue in H1 of Damsan Joint Stock Company (ADS) increased by 14.1 per cent compared to the same period in 2022. In the second quarter of 2023, Century Fibre Joint Stock Company's (STK) revenue increased by 41.5 per cent compared to the first quarter of 2023 and net profit increased 22 times compared to the first quarter. However, in the second quarter of 2023 alone, export turnover reached $610.7 million, up 42 per cent compared to the first quarter of 2023 and slightly increased compared to the second quarter of 2022. Retail sales of textiles and footwear as of May in China increased by 2.3 per cent compared to April, and increased by 12.3 per cent compared to May 2022, reaching 107, 6 billion yuan. It is expected that when Unitex Factory is completed in 2025, the company will become the second largest yarn producer in the country.

Corporations such as Apple and Intel have begun to relocate factories to Việt Nam, drawn by its burgeoning capabilities and stable political environment. As these threads converge, Việt Nam emerges as a protagonist in the saga of global supply chains. Yet, along with opportunities, Việt Nam is facing many challenges. Corporate titans like Boeing, Google and Walmart have also expressed their intent to spread their wings across Việt Nam's business landscape. With labour costs rising, Việt Nam risks losing its once-advantageous position in cheap labour to countries like India, the Philippine, and Cambodia.

BALI — Experts have called on the Asia-Pacific region to embrace artificial intelligence to combat cyber threats. “The Asia-Pacific region is at the forefront of the AI revolution.”Several research studies have predicted that the Asia-Pacific region will be the fastest-growing market for AI globally. According to a recent report by IDC, some 65 per cent of Asia-Pacific organisations will embed AI across business technology categories by 2026, using AI to improve outcomes without reliance on technical talent. About 75 per cent of large Asia-Pacific organisations will use AI-infused processes to boost asset efficiency, streamline supply chains and improve product quality by 2026, it said. The Russian firm, founded in 1997, has signed agreements with various countries in the region, including Việt Nam, to help protect against cyber threats.

Vietnam’s wooden furniture and handicraft exports have shown signs of recovery in the past three months, according to Nguyễn Xuân Truyền, deputy director in charges of sales and marketing at Keico Company Limited. “The situation has shown improvement in the last three months since European buyers have begun sourcing again,” he said. Citing the Vietnam News, in July 2023, the exports of wooden furniture and handicrafts from Vietnam rose by 2.8 percent year-on-year, higher than the country’s overall export growth rate, to $1.1 billion. The main demand was in markets of Turkey, India, Chile, Cambodia, Finland, and Norway, said Trần Ngọc Liêm, director of the Việt Nam Chamber of Commerce and Industry’s HCM City branch. Trần Quốc Mạnh, vice chairman of the Việt Nam Handicraft Exporters Association expressed his expectation, saying, “Hopefully by the end of this year or early 2024 at the latest, exports will fully recover.”Source: https://vietnamnews.vn/economy/1593275/wooden-furniture-handicrafts-exports-show-signs-of-recovery.html

Hanoi street on the National Day holiday (Photo: VNA)Hanoi (VNA) - Leaders of Austria, Portugal, Greece, Malta, Morocco, Pakistan, Romania, and the Republic of Cyprus have cabled letters and messages of congratulations to the Vietnamese Party and State leaders, on the occasion of the 78th anniversary of the National Day (September 2). President of Austria Alexander Van der Bellen, President of Portugal Marcelo Rebelo de Sousa, President of Greece Katerina Sakellaropoulou, President of Malta George Vella, King of Morocco Mohamed VI, President of Pakistan Arif Alvi, President of Romania Klaus Werner Iohannis and President of Cyrus Nikos Christodoulides sent congratulatory letters and messages to President Vo Van Thuong. Prime Minister of Pakistan Anwaar-ul-Haq Kakar and Prime Minister of Romania Ion Marcel Ciolacu also extended greetings to PM Pham Minh Chinh. On the occasion, Caretaker Minister of Foreign Affairs of Pakistan Jalil Abbas Jilani and Minister of Foreign Affairs of Romania Luminita Odobescu also cabled congratulatory letters to their Vietnamese counterpart Bui Thanh Son./.

Illustrative image (Photo: VNA)The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,959 VND/USD on September 5, down 18 VND from the last working day before the four-day National Day holiday (August 31).With the current trading band of +/-5 percent, the ceiling rate applicable to commercial banks during the day is 25,158 VND/USD and the floor rate 22,760 VND/USD.The opening-hour rates at commercial banks decreased.At 8:45am, Vietcombank listed the buying rate at 23,870 VND/USD and the selling rate at 24,240 VND/USD, down 70 VND and 60 VND, respectively, from August 31.BIDV also cut both rates by 45 VND, listing the buying rate at 23,930 VND/USD and the selling rate at 24,230 VND/USD.During the week from August 28-31 before the National Day holiday from September 1-4, the daily reference exchange rate was adjusted up on the first three days and down on the last day, ending the week up 17 VND./.

At the swear-in ceremony (Photo: Reuters)Bangkok (VNA) – The new Prime Minister of Thailand, Srettha Thavisin, led the 33 members of his Cabinet to take their oaths of office in front of King Maha Vajiralongkorn on September 5. They took the oath of allegiance before the King during their four-year tenure. Earlier on September 2, the King endorsed the list of ministers chosen by Srettha. His government consists of an 11-party coalition led by Pheu Thai Party, including major parties in the previous administration of Prime Minister Prayut Chan-o-cha. The new government plans to convene its first meeting on September 6 and will announce its policies to the Thai Parliament on September 11./.

In July alone, cars imported from Thailand reached 3,714 units, or equivalent to a turnover of $84 million. In the first seven months and in July alone, Thailand secured the first position in auto exports to Việt Nam. Thus, the average value of vehicles imported from Thailand to Việt Nam with a declared price at the port in July was $21,000/car or equivalent to VNĐ493million/unit. In particular, Indonesia surpassed Thailand in terms of imported cars, but Thailand still ranks No 1 in terms of turnover. In 2022, Việt Nam imported 72,671 units with a turnover of more than $1 billion from Indonesia and 72,032 vehicles from Thailand valued at $1.43 billion.

It is expected to contribute to further consolidating and deepening the extensive strategic partnership between Vietnam and Japan. Both leaders spoke highly of the positive development in the strategic partnership between Vietnam and Indonesian since their meeting in Labuan Bajo in May. PM Chinh conveyed the invitations of Party General Secretary Nguyen Phu Trong and President Vo Van Thuong to President Widodo to visit Vietnam soon. Localities see surges in number of National Day holidaymakersLocalities across Vietnam saw significant increases in the number of tourists in the recent four-day National Day break. In the period from September 1-4, Ho Chi Minh City served around 960,000 visitors, and pocketed 2.89 trillion VND (120 million USD) from tourism services, up 4.3 % and 5.5% year-on-year, respectively.

Smoothly dealing with difficulties in the real estate sector is an important factor contributing to getting the economy back on track. In fact, bad debt stemming from the real estate sector has recently increased. The ratio of real estate bad debts in June 2022 was 1.53 per cent while the figure a year later was 2.47 per cent. Meanwhile, the credit growth of the whole market in the first seven months of the year was just 4.56 per cent. It should be noted that the suspension is just a temporary measure to help real estate enterprises get easier access to bank lending.

HÀ NỘI — Deputy Prime Minister Trần Hồng Hà has signed a decision approving a plan for the implementation of the Political Declaration on establishing the Just Energy Transition Partnership (JETP Declaration). It aims to successfully implement the JETP Declaration in combination with promoting the development of renewable energy, and the economical and efficient use of energy, contributing to realising net zero greenhouse gas emission targets by 2050; developing the energy industry with synchronous and smart infrastructure on the basis of ensuring national energy security and development goals, and ensuring fairness in energy transition. It also covers the reception and effective use of support from international partners in technology transfer, governance, human resource training and financial provision for the implementation of the declaration, contributing to implementing Việt Nam’s national energy development strategy and the Global Coal to Clean Power Transition statement. From now to 2030, the plan states that it is necessary to build and perfect the legal framework to facilitate the attraction of investors, businesses and people to engage in the just energy transition process and promote technology transfer. Relevant units will develop a resource mobilisation plan to implement the JETP Declaration, and carry out pilot projects related to just energy transition; while at the same time implementing the resource mobilisation plan with international financial support and technology transfer to promote the conversion of coal-fired power and fossil energy to clean energy, and develop renewable and new energy forms (green hydrogen, green ammonia).