VIETNAM NEWS HEADLINES AUGUST 2/2023
The potential for further economic and trade co-operation remains huge because the two economies have complementary strengths, especially when the CEPA is signed. Vietnam, UAE enjoy growing relations over three decadesThe bilateral relationship between Vietnam and the United Arab Emirates (UAE) has flourished across fields, from politics and diplomacy to trade, investment, labour and tourism, over the last three decades since they set up diplomatic ties on August 1, 1993. The deal also promotes the UAE’s investment in Vietnam and expands cooperation opportunities to other fields such as innovation, renewable energy, investment, logistics, technology, tourism, and agriculture. The potential for economic and trade cooperation between Vietnam and the UAE still remains huge because the two economies have complementary strengths, especially when the CEPA is signed. Previously, the Drug Administration of Vietnam had granted a license to CPC1 Central Pharmaceutical Joint Stock Company to import 21,000 ampoules and these drugs have been brought to Vietnam.
Source:Viet Nam News
August 02, 2023 10:03 UTC
Edtech VUIHOC raises $6 million to promote AI to personalise experiences
HÀ NỘI — VUIHOC, an educational technology (EdTech) start-up, on Monday announced a US$6 million investment in a Series A funding round led by TNB Aura. Founded in 2019, the online education platform provides interactive classes for over 1.1 million students from kindergarten to 12th grade. With the recent funding, VUIHOC is committed to continue developing more products and utilised AI technology to customise learning experiences that cater to each student's needs, said CEO Đỗ Ngọc Lâm. According to Vietnam Innovation & Tech Investment Report 2023, Việt Nam's EdTech startups continue to draw significant investments. In the first half of this year, the total investment in this field has already surpassed the last year’s value of $30 million.
Source:Viet Nam News
August 01, 2023 23:28 UTC
Shares reverse to fall on selling force
HÀ NỘI — Shares reversed course to end lower on Tuesday, pressured by the selling force hitting a series of large-cap stock groups at the final minutes of the trading session. On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index lost 0.44 per cent to close at 1,217.56 points. Some 1.3 billion shares were traded on the southern exchange, worth VNĐ26.4 trillion (US$1.1 billion). On a sector basis, 23 out of 25 sector indices on the stock market lost ground, including wholesale, construction, rubber production, IT and logistics, agriculture, food and beverage, retail, seafood production, and plastic and chemical production. The HNX-Index on the Hà Nội Stock Exchange (HNX) lost 0.08 per cent to close Tuesday at 239.35 points.
Source:Viet Nam News
August 01, 2023 22:07 UTC
Domestic retail gas prices up after consecutive falls
Retail gas prices in Vietnam, after dropping for two consecutive months, have bounced back this month following an increase in the global market. Accordingly, the August retail prices of Petrolimex gas (including VAT) in the Hanoi market are VND380,160 (US$16.05) per 12 kg household cylinder and VND1,520,640 per 48 kg industrial cylinder. These represent increases of VND26,360 and 1VND105,640, respectively. Nghiem Xuan Cuong, head of the Commercial and Civil Gas Sales Department under the Petrolimex Gas JSC, attributed the rise to the average world gas price contract for August being set at US$465 per tonne, up by US$77.5 per tonne compared to July. Since the beginning of this year, domestic gas prices have decreased five times in January, March, April, June, and July and gone up three times in February, May, and August.
Source:VietNamNet News
August 01, 2023 20:04 UTC
Bamboo Airways launches Hanoi – Lijiang direct flights
With an expected frequency of three return flights per week, Bamboo Airways is the first and only airline of Vietnam to conduct charter flights from Hanoi to Lijiang city. With a duration of two hours, the route will help shorten the traveling time from Hanoi to the Chinese city. Normally, it takes about 4-16 hours if passengers use connecting flights, or 16 hours if they travel by road. The operation of round-trip flights between Hanoi and Lijiang will meet the travel demands of people in the two cities, as well as contribute to promoting cooperation between the two countries in various fields. According to the General Statistics Office, Vietnam welcomed over 557,000 Chinese tourists in the first half of 2023./.
Source:Viet Nam News
August 01, 2023 18:53 UTC
Vietnam, Indonesia vow to strengthen defence cooperation
Deputy Minister of National Defence Sen. Lieut. Gen. Hoang Xuan Chien (L) and Lieut. Gen. Donny Ermawan Taufanto, Secretary General of the Indonesian Ministry of Defence. (Photo: qdnd.vn)Deputy Minister of National Defence Sen. Lieut. Gen. Hoang Xuan Chien had a bilateral meeting with Lieut.
Source:Viet Nam News
August 01, 2023 15:41 UTC
Economists: interest rates need to be cut
Meanwhile, enterprises also had to cope with other difficulties, including the decrease in the number of orders and high interest rates. “Recently, interest rates have increased to more than 10 percent per annum at times. How can businesses make such a high profit to cover loan interest rates?” Tuan said. The State Bank of Vietnam (SBV) has slashed operating interest rates four times this year. Regarding the interest rate, I agree with the government’s plan that the interest rate could decrease further by 1-1.5 percentage point by the end of the year,” he said.
Source:VietNamNet News
August 01, 2023 13:11 UTC
Vietnam bid farewell to 2023 Women's World Cup with 7-0 loss to Netherlands
Vietnam says goodbye to the 2023 Women's World Cup after a 7-0 hammering. (Photo: VNA)Vietnam said goodbye to the 2023 Women's World Cup after a 7-0 hammering by the Netherlands in the final match of Group E on August 1.As in the last match versus Portugal, Vietnam started against the Netherlands with confidence but focused more on defensive structure.On offense early in the game, Nguyen Thi Thanh Nha’s pass put Nguyen Thi Bich Thuy into a great position for the volley, but she rocketed it over the bar.In the 8th minute, Lieke Martens opened the scoring for the Netherlands with a chip over goalkeeper Tran Thi Kim Thanh.Dutch players increased the pressure on their Vietnam ese rivals with goals scored in the 11th, 18th and 23rd minutes, and another before the first half ended.In the second half, the Netherlands slowed it down but still put enough pressure on Vietnam. They scored two others in the 57th and 83rd minutes.With the victory, the Netherlands topped Group E of the tournament ahead of the US.The Vietnamese team, who are in their very first Women’s World Cup, conceded 12 goals and scored none./.
Source:Viet Nam News
August 01, 2023 12:50 UTC
Vietnamese rice prices up after rice export ban of India, Russia, UAE
HÀ NỘI — Rice export prices of Việt Nam have reached their highest in 12 years after a series of countries restricted rice exports. According to domestic traders, the reason for the higher export price of rice is due to many businesses purchasing rice from other countries after India's ban on exporting rice, followed by similar moves from the United Arab Emirates (UAE) and Russia. On July 20, India issued a ban on rice exports, aiming to ensure adequate domestic availability at reasonable prices. According to the Việt Nam Food Association, rice prices in the domestic market have also increased sharply. Việt Nam imports a large amount of this product from India, so Vietnamese importers may face many risks.
Source:Viet Nam News
August 01, 2023 11:18 UTC
HDBank achieves $231m profit, adopts Basel III norms
The cost-to-income ratio fell from 36.98 per cent a year earlier to 34.77 per cent, among the lowest in the market. As of June 30, its total assets were worth VNĐ483.9 trillion ($20.39 billion), up 26 per cent year-on-year. The high growth in deposits in particular underlined its prestige and brand value and the trust customers have in the bank. Full adoption of Basel III, room for growthHDBank has adopted Basel III, the highest international risk management standards in Việt Nam today. Its operational safety indicators as of June 30 compared well with the norms set by the State Bank of Vietnam.
Source:Viet Nam News
August 01, 2023 07:31 UTC
IOM ready to help Việt Nam eliminate human trafficking: Official
How have you seen Việt Nam in combat human trafficking over the last few years, given the TIP law was enacted since 2011? One example is the implementation of the National Human Trafficking Prevention and Control Programme for 2021-2025, with a vision for 2030, which includes new solutions and tasks to prevent and fight human trafficking in all areas. However, human trafficking can occur within the borders of any country, including Việt Nam. There are a lot of discussions around revising the Law on Human Trafficking Prevention and Control to adapt to new tactics of traffickers and to enhance the effectiveness of human trafficking prevention and control. With all of those objectives in mind, IOM stands ready to support the Government of Việt Nam and other partners to accelerate the goal of eliminating the trafficking of persons in Việt Nam.
Source:Viet Nam News
August 01, 2023 06:04 UTC
VIETNAM NEWS HEADLINES AUGUST 1/2023
HCMC Transport Department is requested to create one specific Standard Framework for Automatic Ticket Collection System in Passenger Public Transport for HCMC according to actual situations. These information pieces have to be compiled in a report sent to HCMC Transport Department this July. Painter Trinh Tuan from Asia Art Link Vietnam underscored the significance of the event in terms of elevating the images, art, culture, and people of Vietnam to the wider world. The event was attended by representatives of the Vietnam Office for Seeking Missing Persons (VNOSMP), the US Ambassador to Vietnam Marc Knapper, and other relevant agencies. According to the latest report of the Ho Chi Minh City General Statistics Office, the total foreign investment capital into Ho Chi Minh City in the first 6 months of 2023 reached $2.8 billion, up 30.7 percent over the same period.
Source:Viet Nam News
August 01, 2023 04:12 UTC
Vietnamese tennis team wins ticket to Davis Cup’s Group II
The Vietnamese tennis team has won 2-1 over Jordan rivals in a playoff to secure a ticket to Davis Cup 2024, Asia/Oceania Zone Group II. (Photo: baovanhoa.vn)The Vietnamese tennis team has won 2-1 over Jordan rivals in a playoff to secure a ticket to Davis Cup 2024 , Asia/Oceania Zone Group II.The playoff between Vietnam, second place in Group A and Jordan, second place in Group B, took place in Sri Lanka on July 29.In the group stage of Davis Cup, Asia/Oceania Zone Group II I, the Vietnam ese tennis team in Group A lost 0-3 to Iran in the opening match but then had two consecutive victories with a score of 2-1 against both Sri Lanka and Saudi Arabia.With the ticket to Davis Cup 2024, Asia/Oceania Zone Group II, the Vietnamese team surpassed its goal of staying in Group III./.
Source:Viet Nam News
August 01, 2023 01:52 UTC
VIB's profit up 12%, ROE stands at 29% in H1
HÀ NỘI — Vietnam International Bank (VIB) has announced its pre-tax profit at over VNĐ5.64 trillion in the first half of this year, up 12 per cent year-on-year. In Q2 alone, the bank's pre-tax profit hit a record high of nearly VNĐ2.95 trillion. Meanwhile, non-interest income reached nearly VNĐ1.59 trillion, contributing 15 per cent to the total revenue. Cautious about credit growth, improved asset qualityAs of June 30, 2023, VIB's total assets topped nearly VNĐ379 trillion, up 10 per cent compared to the beginning of the year. However, in the second quarter, the bank recorded positive business performance with credit growth reaching 2.4 per cent.
Source:Viet Nam News
July 31, 2023 21:28 UTC
Top legislator to attend AIPA-44, visit Indonesia, Iran
Politics HCM City workshop talks amended Land Law Scientists, experts, lecturers and researchers gave opinions on the Land Law (amended) at a workshop jointly held by the National Assembly’s Economic Committee and the Ministry of Natural Resources and Environment in Ho Chi Minh City on July 31. Videos Last victim’s body in Lam Dong landslide discovered The last body of the four victims killed in the July 30 landslide on Bao Loc Pass, the Central Highlands province of Lam Dong, was found at noon on July 31, local authorities reported. Videos Japanese scholar praises Vietnam's bamboo diplomacy A Japanese scholar has that said Vietnam’s “bamboo diplomacy” showcases flexibility in the country’s foreign relations and is well-suited to its strategic environment and historical context. Politics Party chief’s book on defence strategy should be further introduced to public: opinions The book on the military policy and defence strategy of Vietnam in the new period by Party General Secretary Nguyen Phu Trong reflects his consistent thought about the leadership and directions over the national safeguarding, many experts, researchers and Party members have shared the view.
Source:Viet Nam News
July 31, 2023 19:13 UTC