Proposal on minimum wage to be submitted for Government approval
Illustrative image (Photo: VNA)Participants at the meeting (Photo: VNA)After two negotiation sessions, the National Salary Council on December 20 reached a consensus to finalise the proposal to increase the regional minimum wage by 6% starting from July 1, 2024, to submit for Government for approval.In the meeting on the same day morning, representatives from union organisations proposed an increase of between 6.5 - 7.3%, while those from employers suggested maintaining an increase between 4 - 5%.If the proposal is approved, the minimum wage for Regions I, II, III and IV will respectively rise by 280,000 VND (nearly 11.5 USD), 250,000 VND, 220,000 VND, and 200,000 VND to 4.96 million VND, 4.41 million VND, 3.86 million VND, and 3.45 million VND.The hourly minimum wage will also increase by 6% starting from the same date, with the highest increase level for Region I at 23,800 VND per hour.Regionally-based monthly minimum wages vary between four different regions based on four separate benchmarks determined by living standards in each area.Region 1 covers urban Hanoi and HCM City; Region 2 covers rural Hanoi and HCM City along with Can Tho, Da Nang and Hai Phong cities; Region 3 applies to cities and districts of Bac Ninh, Bac Giang, Hai Duong, and Vinh Phuc provinces; and Region 4 encompasses the remaining localities./.
Source:Viet Nam News
December 20, 2023 21:38 UTC
Vietnam among countries with high economic growth in 10 years
A factory in the Du Long Industrial Park in Thuan Bac district, Ninh Thuan province (Photo: VNA)The rice warehouse of the Duong Vu Co. Ltd in Binh Thanh commune of Thu Thua district, Long An province (Photo: VNA)– Vietnam, together with China and some other Asian countries, is among the 20 countries with the fastest economic growth over the last 10 years, according to Yahoo Finance.In its recent article, the market news website sourced data from the International Monetary Fund ( IMF ), considering the growth in real GDP for all countries over the last 10 years to average the real GDP growth rates.It said that with an average real GDP growth rate of 6.1% during 2012 - 2022, Vietnam ranks among those with high economic growth. The agricultural sector highly supports the economy by contributing to the GDP as well as employment.Vietnam’s agro-forestry-fishery exports reached 53.22 billion USD for the first time in 2022, up 9.3% from the previous year. As a result, its agricultural sector posted a trade surplus of 8.5 billion USD, accounting for over 75% of the economy’s total trade surplus.The article also cited Vietnam’s statistics as showing that the US remains the biggest market of Vietnamese agro-forestry-fishery products, with an import turnover of 13.3 billion USD, equivalent to 25% of the total exports of those products. It is followed by China with more than 10 billion USD (18.9%), Japan 4.2 billion USD (7.9%), and the Republic of Korea 2.5 billion USD (4.7%).In terms of continents, Asia made up 44.7% of the exports, the Americas 27.4%, Europe 11.3%, Oceania 1.7%, and Africa 1.7%.The five countries with the highest economic growth rates in 10 years is Guyana (South America) nearly 15%, Ireland (Europe) over 9%, Ethiopia (Africa) 8.43%, Tajikistan (Central Asia) over 7%, and Côte d’Ivoire (West Africa) over 6.8%, according to the writing./.
Source:Viet Nam News
December 20, 2023 14:43 UTC
Lending rate forecast to be cut by 1-1.5pp in 2024
At the same time, keeping a low deposit interest rate for a long time is also a necessary condition to pull the lending interest rate down. However, lending interest rate is still about 1.6 percentage points higher than the bottom recorded in the fourth quarter of 2021. Specifically, after the State Bank of Vietnam (SBV) lowered its policy interest rates four times, deposit interest rates decreased rapidly. Actual lending interest rate has also gone down by about 2-2.5 percentage points for new loans. VCBS expects the lending interest rate will decrease by another 1-1.5 percentage points in 2024.
Source:Viet Nam News
December 20, 2023 14:38 UTC
CALLING FOR EXPRESSION OF INTEREST
On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), GIZ is implementing the Sector Program (SP) Social and Ecological Transformation of Textile Supply Chains. The SP aims to raise awareness and recognition of sustainable textiles among consumers. Within these three subdivisions, various projects are developed and implemented to achieve the goals of the SP Social and Ecological Transformation of Textile Supply Chains. Please send email to Question-from-bidder-PoS-VN@giz.de by 28.12.2023 to receive tender documents. Request of tender documents to be sent to Question-from-bidder-PoS-VN@giz.de by 28.12.20232.
Source:Viet Nam News
December 20, 2023 14:24 UTC
Doctor inspiring Thalassemia patients to live on
This rare and horrendous condition can be identified early through screening tests, detecting the disease gene in pre-marital and prenatal stages, she said. However, not everyone is as fortunate, and tens of thousands of individuals with the thalassemia gene have married others with the same gene. This is a disservice to the future of unfortunate children carrying the disease gene. Ethnic minority populations in the province, as beneficiaries, not only receive 70 per cent support for thalassemia gene screening tests, but also gain awareness and guidance on thalassemia prevention, and continuous monitoring and counselling if carries the gene. According to Hiền, thalassemia is a challenging disease to cure but not to prevent.
Source:Viet Nam News
December 20, 2023 03:34 UTC
Indonesia’s rice assistance programme to benefit 22 million families
The figure was then updated by the Coordinating Ministry for Human Development and Culture for the assistance programme in 2024. The rice assistance is sourced from the government rice reserves (CBP), and each beneficiary receives 10 kg of rice each month. Speaking at a media discussion event last week, Wijaya said that if the state budget is sufficient, the rice assistance programme can be realised until the next six months. The rice stock of 1.4 million tonnes will also be used for rice assistance distribution that will last until next year to maintain price stability in the community. Throughout 2023, Bulog has distributed 1.4 million tonnes of rice under the rice assistance programme./.
Source:Viet Nam News
December 20, 2023 00:02 UTC
Winners of ‘Happy Vietnam’ photo, video contest awarded
Bui Cuong Quyet (centre), a reporter of the Vietnam News Agency, is granted the first prize for his photo titled “Bay len Viet Nam” at the award ceremony on December 19. (Photo: VNA)“Bay len Viet Nam” (Flying high, Vietnam) is the first-prize winning photo of the “Happy Vietnam 2023” competition. General Director of the Vietnam News Agency Vu Viet Trang (R) and Chairwoman of the Vietnam Association of Photographic Artists Tran Thi Thu Dong visit an exhibition of entries to the competition on December 19. (Photo: VNA)– Winners of the “ Happy Vietnam 2023” photo and video competition were honoured at a ceremony held in Hanoi on December 19.The competition, which focused on human rights in Vietnam, was held online on https://vietnam.vn , a platform for popularising Vietnam’s images, by the Authority of Foreign Information Service under the Ministry of Information and Communications It attracted more than 7,000 entries from both Vietnam and other countries after four months, from June 15 to October 15.The best 28 were awarded, including one first prize, one second prize, one third prize, and 10 consolation prizes for the photo and video categories each. The most voted entries of the categories were also honoured.The photo winning the first prize is “Bay len Viet Nam” (Flying high, Vietnam) by Bui Cuong Quyet, a reporter of the Vietnam News Agency.
Source:Viet Nam News
December 19, 2023 15:38 UTC
Vietnam should extend economic support programme to 2024: WB
Business Binh Dinh - bright spot in attracting investment The central province of Binh Dinh has become a bright spot in attracting domestic and foreign investors thanks to a transparent investment policy. Videos Retailers anticipate business to pick up in year-end shopping season Retailers in Vietnam are increasing inventory and have launched promotions in anticipation of opportunities in the year-end shopping season, as there are just two months left until the Lunar New Year (Tet) – the biggest festival in a year of Vietnamese people. Videos Rice exports expected to hit 5 billion USD this year Rice export volume and value during the first 11 months surpassed the figures of the entire 2022, and this year’s revenue is expected to reach 5 billion USD. Business Minister hosts UAE firm seeking business opportunities in Vietnam Minister of Industry and Trade Nguyen Hong Dien had a working session with leaders of Sirius International Holding of the UAE in Hanoi on December 19 to discuss business and investment cooperation opportunities in Vietnam.
Source:Viet Nam News
December 19, 2023 09:51 UTC
Symposium discusses future of semiconductor industry
By Thanh HảiHÀ NỘI — Future of the global semiconductor industry was the main topic of discussion at a symposium, entitled “Semiconductors Unleashed: The Backbone of Modern Innovation,” on December 18. The international forum brought together many leading scientists and domestic researchers to connect and discuss the future of the booming global semiconductor industry. The semiconductor industry is also considered a core part of the technological competition between great powers in the 21st century. Currently, according to Prof. Low, around the world, there is a race to reduce the size of semiconductor chips. The microelectronics and semiconductor industry currently contributes 9 per cent of Singapore's GDP and 42 per cent of total manufacturing outputs.
Source:Viet Nam News
December 19, 2023 09:23 UTC
Culture contributes to creating Vietnam’s strong tourism brand
According to the Vietnam National Authority of Tourism, Vietnam’s cultural tourism products have an important role to play in creating a national brand, improving its competitiveness, and attracting international tourists who want to learn about the country, people, history, and culture of Vietnam. New types of cultural tourism products are being promoted such as performing arts, music festivals, cinema, fashion, and contemporary performing arts. The authority also said developing cultural tourism in Vietnam still faces challenges such as fierce competition in destinations, tourism products and services, insufficient legal framework, limited promotion, and a shortage of human resources. As suggested by insiders, developing the cultural industry must be associated with cultural and smart tourism. Also, the tourism industry is recommended to strengthen the application of information technology, and digital technology in building and promoting certain products for specific markets./.
Source:Viet Nam News
December 19, 2023 08:01 UTC
Purchasing power is projected to increase by about 10% during Lunar New Year 2024
HÀ NỘI — Experts expect that purchasing power during the Lunar New Year 2024 holidays may increase by over 10 per cent compared to the same period last year. The supply of essential goods has been also proactively prepared by businesses very early, with the amount of inventory increasing by 10 – 25 per cent over the same period. To stimulate domestic consumption, many businesses have plans to deploy promotion programmes and discounts on many essential consumer products, especially in the months leading up to Tết. Retail sales of goods increased by 8.6%According to the report on the implementation of Resolution No. Specifically, trade and service activities in November are quite exciting in preparation for the major holidays at the end of the year and to celebrate the Lunar New Year 2024.
Source:Viet Nam News
December 19, 2023 08:00 UTC
AES Vietnam receives CSR Award from AmCham Hanoi for the 7th consecutive year
AmCham congratulates AES Vietnam on their CSR Recognition Award.”Joe Uddo, President of AES Vietnam, added: “We are grateful to AmCham Hanoi for this recognition, which reflects our values and mission as a company. We are proud to be part of the journey to develop a prosperous Vietnam through our CSR program.”In November 2023, AES Vietnam also received recognition from AmCham Vietnam, Ho Chi Minh Chapter, with an ESG Impact Showcase award. AES Vietnam was praised for its reliable and responsible partnership in providing safe, affordable, and sustainable energy solutions for Vietnam, as well as its unwavering commitment to ESG principles. In October 2020, AES Vietnam and PV GAS signed a Term Sheet of the Joint Venture Agreement for Son My LNG terminal. For more information, visit: www.aes-vietnam.comAbout AESThe AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy.
Source:Viet Nam News
December 19, 2023 07:32 UTC
VIETNAM NEWS HEADLINES DECEMBER 19/2023
Like other developing countries, Vietnam is struggling to shrink the gap between patients’ demand and treatment products, as biological drugs or targeted ones are currently unavailable or too expensive in Vietnam, making them difficult to access for the majority, heard the symposium. According to the State Committee of Overseas Vietnamese, Vietnamese expatriates strongly desire to return home, visit places and explore Vietnamese culture and traditions. Young overseas Vietnamese travel throughout Vietnam, visiting famous scenic spots and learning about the culture and customs of different regions. Vietnamese missions abroad are expected to be key in promoting Vietnamese tourism among the expatriate community. On December 18, high-ranking defence delegations of Vietnam and India watched some activities of the exercise at the site.
Source:Viet Nam News
December 19, 2023 04:58 UTC
VinFuture Sci-Tech Week opens
HÀ NỘI — The 2023 VinFuture Sci-Tech Week kicked off on December 18, bringing together leading scientists and experts in key technological domains, including semiconductor technology, precision medicine, green transportation infrastructure and artificial intelligence. Themed “Boundless Unity”, the four-day 2023 VinFuture Sci-Tech Week comprises a wide array of events, including the “Science for Life” Symposia, the “VinFuture Discovery Talk Series", the prestigious “VinFuture Prize Award Ceremony”, and “Talk Future: Dialogue with the 2023 VinFuture Prize Laureates”. The highlight of VinFuture Sci-Tech Week is the connection activities under the “VinFuture Discovery Talk Series”, organised for the first time to cultivate partnerships and delve into potential technology transfers among renowned research institutes and universities in Việt Nam. The 2023 VinFuture Prize Award Ceremony will be held on the evening of December 20, honouring laureates of VinFuture Prize Season 3, whose technological breakthroughs were meticulously curated from a comprehensive pool of nearly 1,400 nominations spanning over 90 countries and territories worldwide. Wrapping up the VinFuture Sci-Tech Week is the grand finale themed “Talk Future: Dialogue with the 2023 VinFuture Prize Laureates” scheduled for December 21.
Source:Viet Nam News
December 18, 2023 23:46 UTC
Real estate market to recover in Q2 2024, accelerate in 2025, experts predict
HCM CITY — Việt Nam's real estate market will bounce back starting from the second quarter of 2024, and prosper into 2025, experts said. Speaking at the Việt Nam Real Estate Summit 2023 held by Batdongsan.com.vn in HCM City last week, Nguyễn Quốc Anh, deputy general director of the property listing platform, said the Vietnamese real estate market in 2023 has been experiencing positive changes and mirroring a previous cycle. He predicted that the real estate market will show signs of a turnaround from Q2 to Q4 next year, with liquidity coming from apartment products meeting real housing needs. At that time, the market will continue to enjoy good growth in terms of liquidity and prices, and many real estate products will appear, he added. At the beginning of November, senior government officials held high profile meetings with major Vietnamese developers to address issues that are impeding real estate development.
Source:Viet Nam News
December 18, 2023 17:40 UTC