Day: February 24, 2022

Vessels Hatakaze and Inazuma of the training squadron of the Japan Maritime Self-Defence Force arrived at Tien Sa Port on February 24 morning, beginning a visit to the central city of Da Nang.

The ships with nearly 480 officers and sailors onboard were welcomed by representatives of the municipal Department of External Affairs, the Naval Region 3 Command, the Military Region 5 Command, the border guard and military commands of Da Nang, and the External Relations Department of the Ministry of National Defence.

The welcome ceremony was also attended by Japanese Consul General in Da Nang Yakabe Yoshinori, Deputy Consul General Shimonishi Kyoshi, and Deputy Defence Attaché Lieutenant Colonel Hamamoto Michinori from the Japanese Embassy in Vietnam. Colonel II Masaaki, commander of training vessel unit No. 1, said the visit aims to promote exchanges and mutual understanding between the Vietnam People’s Navy and the Japan Maritime Self-Defence Force, as well as defence cooperation between the two countries.

During the three-day trip, the head of the Japanese delegation will pay courtesy calls to leaders of Da Nang city and the Naval Region 3 Command via videoconference.

Source: Vietnam News Agency

Cambodia on February 23 started vaccinating children as young as three against COVID-19, becoming one of the first countries to cover the age group of those below five.

The inoculation drive for toddlers began in the capital of Phnom Penh, with hundreds of people queueing outside clinics.

The Southeast Asian nation has vaccinated more than 90 percent of its population of 16 million, for one of the highest rates in the region, official data show. In January, it started rolling out a fourth dose for high-risk groups.

Cambodia’s tally of pandemic infections stands at more than 127,000, with 3,024 deaths.

China and Bahrain have also launched a nationwide vaccination campaign for children aged 3-11, while Cuba has vaccinated children aged 2 and above.

Source: Vietnam News Agency

The environmental sector of Ho Chi Minh City has taken various solutions to intensify the management of plastic waste that piles up amid the COVID-19 pandemic.

The pandemic has sparked online shopping in the southern largest economic hub during the fourth wave of COVID-19 infections, leading to the accumulation of plastic waste.

Due to the disrupted production of eco-friendly packaging materials, local residents and business establishments have to replace them by plastic bags and bottles, and other single-use products.

Moreover, thanks to their convenience and low cost, plastic products have dominated shops and restaurants in the city over the past time.

According to Nguyen Thi Que Lam, from HCM City Urban Environment Co., Ltd. (CITENCO), although the volume of daily waste has reduced over the past time, plastic waste has been on the rise.

From October 2021, CITENCO has resumed the collection and recycling of plastic waste, she said, adding that it has also joined hands with the Packaging Recycling Organisation Vietnam to buy solid waste from private garbage collectors for recycling.

Many localities in HCM City have also stepped up the communication work to raise public awareness of plastic waste sorting, collection, recycling and treatment.

Tan Phu district is an example, which has delivered leaflets guiding local residents how to classify garbage and presented trash bins to them. The district will continue with waste sorting models and the exchange of recyclable waste for gifts.

The municipal Department of Natural Resources and Environment emphasised the target of minimising, towards saying no to non-degradable plastic bags and single-use plastic utensils at State agencies, schools, medical facilities and households in the city.

To that end, HCM City will review and evaluate sources of plastic waste, and then propose suitable, effective solutions in the management work, while encouraging supermarkets, commercial centres, convenience stores and markets to join the efforts.

Specifically, the supermarkets, commercial centres, convenience stores and bookshops should offer discounts to customers who come with eco-friendly bags.

Many businesses in HCM City have responded to the local authorities’ call in the fight against plastic waste.

Phan Thi Thuy Phuong, Director of the Phuong Lan Environmental Friendly Packing Import Export Trading Production Company Limited, said each month her company sells about 100 tonnes of eco-friendly products.

Vietnam uses about 104,000 single-use plastic bags per day, or 38 million plastic bags a year. Up to 46 out of 48 supermarkets are providing plastic bags free of charge, and each supermarket consumes about 1,454 plastic bags a day on average, statistics showed.

The country aims to use 100 percent of environmentally-friendly plastic bags and packaging at shopping malls and supermarkets by 2025, according to a project on strengthening the management of plastic waste in Vietnam approved by Deputy Prime Minister Le Van Thanh last year.

Other goals are to collect, reuse, recycle and treat 85 percent of plastic waste; to reduce the volume of plastic waste dumped to oceans by half; to have 100 percent of tourism complexes, hotels and other lodging facilities not use non-biodegradable plastic bags and single-use plastic products by 2025.

Additionally, the project will gradually cut the production and consumption of non-biodegradable plastic bags and single-use plastic products in daily life; while raising awareness among organisations, enterprises and the community about the harmful effects of single-use plastic items to the environment, ecosystem and human health, and encouraging consumers to shift away from single-use and non-biodegradable plastics to eco-friendly alternatives.

It will campaign producers and distributors of single-use and non-biodegradable plastic products to shift to eco-friendly equivalents and promote the development and application of advanced technology in plastic waste management and manufacturing of environmentally-friendly products.

The project will also build a network of local communicators who are tasked to instruct people in how to properly classify, reuse and treat plastic waste and waste at large; and integrate knowledge about single-use and non-biodegradable plastics into school curriculums at all levels.

Source: Vietnam News Agency

The Civil Aviation Authority of Vietnam (CAAV) on February 24 officially issued a press release regarding the impact of the Russia – Ukraine situation on Vietnamese airlines’ international routes.

Accordingly, the local carriers have proactively built air traffic routes and arranged alternate airports to avoid areas where the war may occur, ensuring the absolute safety for their flights.

Currently, Vietnam Airlines, Vietjet Air, and Bamboo Airways are operating regular international flights between Vietnam and 15 countries and territories, including Cambodia, Hong Kong ( China), Japan, the Republic of Korea, Malaysia, Singapore, Taiwan (China), Thailand, Laos, France, Germany, the UK, Australia, Russia and the US.

Among these, there are 24 passenger and cargo flights to/from Europe (Russia, France, Germany, and the UK) per week.

CAAV Director Dinh Viet Thang told the Vietnam News Agency on the same day that only Vietnam Airlines is conducting flights to/from Moscow, and the national flag carrier has for long prepared plans to fly over Russia and Western Europe, not Belarus and Ukraine. Therefore, Russia-Ukraine tensions do not impact the international air routes operated by Vietnamese carriers, he noted.

Russian news network RT reported that many big cities of Ukraine heard big explosions on February 24 morning (Vietnam time).

Earlier the same day, Russian President Vladimir Putin announced a special military operation to protect people in the self-proclaimed People’s Republic of Donetsk and People’s Republic of Luhansk in Donbass, eastern Ukraine.

Reuters reported that the European Union Aviation Safety Agency on February 24 warned airlines to avoid flying over Ukraine and exercise “extreme caution” in airspace within 185km of the Belarus – Ukraine and Russia – Ukraine borders.

The Ukrainian Government shut airports in eastern Ukraine from midnight through 7am due to escalating tensions. The country’s aviation authorities also declared some airspace in the east to be “danger areas”.

Source: Vietnam News Agency

Rubber is one of the industries posting good performance despite many sectors struggling due to the COVID-19 pandemic.

In its fourth-quarter financial statement, Vietnam Rubber Group (GVR), one of the leading rubber companies in Vietnam, said that its net revenue rose 6.6 percent year-on-year to 9.6 trillion VND (4.2 million USD). Of which, revenue from producing and trading latex still plays a key role, with a gain of nearly 19 percent to 7.46 trillion VND.

In addition, the wood processing segment also brought back more than 1 trillion VND in revenue.

While other business segments recorded growth, the real estate and infrastructure businesses reported a decrease of 47 percent to 183 billion VND.

However, as there was no longer profit from the divestment of member companies and liquidation of rubber plantations, its profit after tax in the fourth quarter of 2021 declined by 44 percent to nearly 1.8 trillion VND.

For 2021, the company’s net revenue reached 26.35 trillion VND, up nearly 25 percent compared to 2020. It resulted in a gain of 10 percent in profit after tax to 5.6 trillion VND, completing and exceeding 23 percent of the plan.

Even though Vietnam Rubber Group had the highest profit last year, Dong Phu Rubber JSC (DPR) was the one with the largest growth in terms of profit.

Despite posting a fall of 3.5 percent over the same period of 2020 in revenue, the company’s profit after tax was still four times higher at 330 billion VND thanks to other incomes totalling more than 229 billion VND.

Accumulated in 12 months of 2021, Dong Phu Rubber’s net revenue reached 1.2 trillion VND, up 6.8 percent on-year, with revenue from the latex business being 860 billion VND, accounting for around 71 percent of its total revenue.

Revenue from the liquidation of rubber trees reached 122 billion VND.

Therefore, its profit after tax jumped 132 percent to 491 billion VND. The company’s earnings per share (EPS) was also in the top at 10,752 VND.

Tabiruco (RTB) is also a business witnessing strong profit growth.

In 2021, its net revenue reached 889.3 billion VND, up 32.5 percent over 2020. With profit before tax up 3 times higher than the yearly target, the company’s profit after tax doubled to 379.6 billion VND.

Similarly, Baruco (BRR) recorded a rise of 27.2 percent in net revenue to 500 billion VND, resulting in an increase of 34.2 percent in profit after tax to 146 billion VND. With the business results, Baruco exceeds 20.5 percent of the profit target set for the whole year.

Victory is not for all

On the contrary, Phuoc Hoa Rubber JSC (PHR), also one of the leading producers in the industry, reported a decline of 11 percent in net revenue of the last quarter of 2021 to nearly 663 billion VND, with profit after tax down 40 percent to 237.5 billion VND.

For the whole year, its net revenue still rose by over 19 percent to 1.9 trillion VND.

However, in 2021, as there was no other income, its profit after tax edged down 48.6 percent year-on-year to 578 billion VND.

Another name leaving a huge impact for investors last year was Quang Nam Rubber.

Four years ago, in 2017, the company suddenly reported a loss of nearly 1.2 trillion VND, with revenue of only tens of billions of dong.

Since then, it has generated almost no revenue, or only a small amount which was less than 10 billion VND.

In both 2020 and 2021, Quang Nam Rubber did not generate revenue, losing 65 billion VND and 50 billion VND, respectively.

Therefore, accumulated to December 31, 2021, it lost 1.36 trillion VND, with equity down to 167 billion VND.

Last year, the company also experienced many ups and downs with changing its name and business lines twice.

Of which, in May 2021, the company changed its name from Quang Nam Rubber to Viet Trung Viet Investment and Development JSC, and transformed its core business from planting and trading rubber to real estate.

Then, at the end of 2021, the company changed its name again to Tay Ba Na Group JSC, but kept its stock symbol of VHG.

Positive outlook in 2022

Vietnam Rubber Group said that the country’s rubber industry will benefit from both export volume and value due to tight global supplies, especially in Southeast Asia as the region is severely affected by the weather, leading to a decrease in the production of natural latex.

Therefore, the price of latex is expected to continue to rise sharply.

A report from the Import-Export Department, under the Ministry of Industry and Trade showed that the country’s rubber price increased slightly last month.

Source: Vietnam News Agency

Indonesia has received official approval to replace Vietnam to host the ASEAN Para Games 2022, Indonesian Minister of Youth and Sport Zainudin Amali said on February 24.

ASEAN Para Games is normally organised together with the the SEA Games, but Vietnam, the host of the games, asked for Indonesia’s support in organising it, he said.

Zainudin said that although the time given by the ASEAN Para Sports Federation is relatively short as the latest ASEAN Para Games in the Philippines has been cancelled, Indonesia will do its best to revive this event.

He added that Indonesian athletes are ready for the ASEAN Para Games 2022, urging the Ministry of Youth and Sports to accept responsibility for hosting the event.

This is the second time Indonesia has hosted such games. Previously in 2011, the country organised the event in Solo city.

As scheduled, the ASEAN Para Games 2022 will take place from July 20-31 with 14 sports. Recently, Solo Mayor Gibran Rakabuming Raka has been appointed as Chairman of the Organising Board of the games.

Source: Vietnam News Agency

President Nguyen Xuan Phuc’s State visit to Singapore from February 24-26 shows the importance of Vietnam-Singapore relations in their foreign policies, an expert has said.

Dr. Le Hong Hiep, an expert of Singapore’s ISEAS–Yusof Ishak Institute, told the Vietnam News Agency (VNA)’s correspondents that Singapore is the third country that Vietnamese leaders have visited bilaterally, following the 13th National Party Congress in January 2021, after Cambodia and Laos.

The trip demonstrates the importance Vietnam has attached to its relations with Singapore and vice versa as the city-state has received just a few foreign leaders in recent times, he said, adding that President Phuc is also the first foreign head of state to visit Singapore bilaterally this year.

The visit is expected to deepen the Vietnam-Singapore strategic partnership, while creating a foundation to foster their cooperation in such areas as tourism, economic recovery post COVID-19, digital economy, cyber security and national defence-security, Hiep said.

According to the expert, over the past more than eight years since the two countries established their strategic partnership, the bilateral ties have developed intensively and extensively, especially in economy.

Last year, Singapore took the lead among 106 countries and territories investing in Vietnam, with combined investment amounting to over 10.7 billion USD, accounting for 34.4 percent of the total foreign capital poured into Vietnam. Singapore is also among the top three foreign investors in terms of capital registered in Vietnam so far.

Its projects have played an important role in infrastructure development in Vietnam, particularly in energy and infrastructure at industrial parks, Hiep said, taking Vietnam-Singapore Industrial Parks (VSIP) as an example.

The expert held that Vietnam and Singapore shared common points in security interests and strategic perceptions, as well as similarities in their views on many regional and international security issues, which have created an important foundation for their collaboration in strategic areas and national defence-security in the time ahead.

Singapore is likely to continue prioritising such cooperation spheres and turn Vietnam into a key destination of Singaporean and international investors, he forecast, noting that there is still ample space for the strategic relations and collaboration in national defence-security to grow further.

The expert expressed his belief that the bilateral cooperation in tourism and education will also further develop after the pandemic.

Hiep also noted his hope for the signing of an agreement or the issuance of a statement during the President’s visit to facilitate the travelling of the two countries’ citizens, helping to boost their economic recovery post COVID-19, especially in investment, tourism and education.

Their partnerships in digital economy, cyber security and national defence-security would also be strengthened if there are more agreements to be reached in these fields, he said.

Source: Vietnam News Agency

The United States wishes to cooperate with Vietnam in the fields of renewable energy and green economy, US Special Presidential Envoy for Climate John Kerry said on February 24.

Meeting National Assembly (NA) Vice Chairman Tran Thanh Man in Hanoi, Kerry, now on a visit from February 22-25, said that the NA of Vietnam plays an important role in creating frameworks to promote the strong development of renewable energy resources such as offshore wind and solar power in Vietnam.

The Vietnamese official agreed, saying Vietnam is among the worst hit by climate change and has determined that responding to climate change is a key task.

Vietnam has taken an active part in the joint efforts of the international community to reduce greenhouse gas emissions and adapt to climate change in the direction of a green, circular and low-carbon economy, he affirmed.

The legislature has institutionalised the provisions of the law in response to climate change, codified in the 2020 Law on Environmental Protection, Man said, adding that a legal framework to implement its commitments at the 26th United Nations Climate Change Conference of the Parties (COP26) is being completed.

In the coming time, the Vietnamese NA will continue to accompany the Government in building and finalising a legal basis to speed up the development of renewable energy sources such as wind power and solar power; and adjust the objectives of the Green Growth Strategy.

He said he hopes that the US will increase assistance for Vietnam in finance, technology, infrastructure, human resources training and experience in energy shift so that the country can fully implement its commitments at COP26. Man also suggested that the US Congress continue to increase the budget for settling war consequences, including the detoxification of dioxin/Agent Orange hotspots, mines clearance and support to people with disabilities.

Speaking highly of Kerry’s efforts and contributions during the normalisation and enhancement of the Vietnam-US ties over the past time, the official suggested that the US guest help push up the US Government in realising its commitment to support the Association of Southeast Asian Nation (ASEAN)’s central role and strengthen the co-operation between the Vietnamese NA and the US Congress.

Source: Vietnam News Agency