Day: July 24, 2022

The Ministry of Transport (MoT) has approved 12 sub-projects of a mega project to build the eastern section of the North-South Expressway in the 2021-2025 period.

These sub-projects will cover a total length of 723.7km, including sections of Ha Tinh – Quang Tri (260.9km), Quang Ngai – Nha Trang (352.06km), and Can Tho – Ca Mau (110.9km).

Their total investment is estimated at about 147 trillion VND (6.27 billion USD).

According to the Ministry of Transport, the approval of the sub-projects is a key milestone that concludes the project preparation and leads to the implementation phase.

Earlier on January 11, the National Assembly approved the investment plan for the Eastern North-South Expressway project in the 2021-2025 period, paving the way for the Government to start the preparatory process. Localities are working to speed up site clearance, striving to hand over 70% of the cleared sites to contractors before November 20 so that construction can kick off before year-end.

The country currently has 1,163km of expressways. Some 916km are expected to be completed by 2023, bringing the total length to 2,079km, according to the ministry. That figure should grow to 3,000km and 5,000km in 2025 and 2030, respectively, it said./.

Source: Vietnam News Agency

Vietnam aims for annual growth of 5-5.5% in forestry production value under the sustainable forestry development programme for 2021-2025 freshly approved by the Government.

Under the programme, forestry will be developed into a modern, effective and highly competitive economic-technical sector with strong production chains.

In 2025, the export value of wood and forestry products is hoped to reach 20 billion USD, including 1.5 billion USD from non-timber products.

Income from planted production forests is expected to rise about 1.5 times compared to 2020.

The programme will focus on maintaining the national forest coverage of 42 percent in a sustainable manner and developing new forest areas. Alongside, the productivity and quality of forests will be improved to meet the demand for materials for production and environmental protection.

It targets the sustainable management, protection, development and exploitation of forests, thus contributing to creating jobs, protecting the ecosystem, eco-diversity and strengthening the capacity to adapt to climate change. The programme also aims to reduce greenhouse gas emissions, and contribute to the implementation of Vietnam’s commitments at the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26). To realise these goals, the programme set a series of tasks including forestry protection, conservation of biodiversity of forest ecosystems, development of forests, improvement of forest productivity and quality, sustainable forest management, and enforcement of forest certifications for planted production forests.

It also gives priority to preventing wildfires and expanding special-use, preventive and coastal forests, as well as developing the forest product processing industry.

The total budget for the programme is estimated at 78.85 trillion VND (3.36 billion USD)./

Source: Vietnam News Agency

 It is becoming difficult to ensure the quantity and quality of workforce for the tourism sector after the COVID-19 pandemic. The sector needs an influx of quality staff to meet the needs of the rising tourism industry.

Experts pointed out that demand is rising for human resources recruitment for travel firms, lodging and catering facilities in the region. Vietnam and other countries in the Association of Southeast Asian Nations (ASEAN) have signed agreements, allowing the exchange of labourers, covering the tourism sector.

However, the Mutual Recognition Agreement on Tourism Professionals (MRA-TP) in ASEAN requires local education institutions to work harder to meet international standards, and managers and lecturers to equip themselves with technological knowledge, according to Nguyen Anh Tuan, from the Institute for Tourism Development Research.

Vo Minh Hieu, from Vexere Services Trading Company Limited, noted that the shortage of high-quality tourism workforce in the Mekong Delta, especially rural and coastal localities, has reached the alarming rate.

Statistics from the Mekong Delta Tourism Association show that in 2018, the number of untrained tourism workers made up around 85 percent.

Tuan suggested employees learn about digital technology and improve their soft skills.

Meanwhile, employers should increase on-the-spot training for their staff to improve their knowledge about information technology, big data and AI under both long and short-term plans.

They need to stay updated on regulations and policies on labour, and step up cooperation and information sharing, he said.

According to Bui Thi Ngoc Hieu, Deputy Director of the HCM City Department of Tourism, the city counts more than 70 tourism training institutions, providing some 17 percent of trained tourism workers for other cities and provinces.

HCM City has cooperated with other localities like Hanoi and the central city of Da Nang to implement measures to raise the quality of the tourism workforce.

The municipal Department of Tourism has also coordinated with travel firms and associations to organise short-term training courses on tourism and hospitality.

Experts suggested the tourism sector in localities closely coordinate with the education and training sector to review and propose policies in support of tourism students.

Localities in the Mekong Delta should work to attract Vietnamese experts and intellectuals at home and abroad to help with industry research and the building of local tourism development strategies and programmes./.

Source: Vietnam News Agency

From now to 2025, the northern province of Bac Giang will focus on developing seven key agricultural products with the goal of improving productivity and product quality to meet the requirements of domestic and export markets, said Director of the provincial Department of Agriculture and Rural Development Duong Thanh Tung.

Accordingly, the province will promote large-scale concentrated fruit growing areas with high quality, satisfying VietGAP and GlobalGAP standards, with the volume of lychee qualified for export will account for 70% of the total output. It will strive to boost the export of such products as pomelo, longan and custard apple to new markets, including the United States, the European Union and Japan.

The province will ensure long-term food security and expand the cultivation of high-quality rice varieties which are expected to make up 50% of the planting area. Concentrated production zones for processed and safe vegetables will be set up along with the application of high technology.

Attention will be paid to developing large-scale concentrated farm husbandry associated with the building of disease-free facilities. Bac Giang’s pork and chicken products qualify for domestic consumption and export.

The province will expand concentrated intensive fish farming and encourage the development of large-scale aquaculture farms.

It will promote the expansion of acacia growing areas while reducing the area of eucalyptus as well as encourage the plantation of large timber. Bac Giang strives to produce over 1 million cubic metres of timber by 2025, with a large timber forest area of 15,000 ha. The forest area granted the forest stewardship council (FSC) certificates will reach 12%.

The official pointed out shortcomings in the agricultural development of the province, including low labour productivity and high input costs.

The application of advanced technology and mechanisation in the production, harvesting, processing and preservation of agricultural products has not yet met export standards, especially in choosy markets, Tung said, adding that most of the province’s agricultural products are in the raw form so the added value is low.

In the future, Bac Giang will focus investment on key products, aiming to increase the combined value of the seven key products by an average of 5% a year.

Priority will be given to applying advanced technology, replicating green and circular economy and ecological agriculture models to improve the efficiency of natural resources.

Attention will be paid to promoting digital transformation in the agricultural sector, developing QR codes to facilitate the sales of farm produce via online commercial platforms, and using drones to spray pesticides and sow seeds.

According to the provincial Department of Agriculture and Rural Development, the growth of agricultural sector reached 1.4% per year in the 2016-2021 period. Its agricultural structure has shifted towards promoting its advantages and meeting the demand of the market. The proportion of cultivation, livestock breeding and agricultural services accounted for 55.7%, 43.2% and 2%, respectively.

The local agro-forestry-fishery sector has been growing at an average of 2.8% a year since 2016, reaching 21.6 trillion VND (922 million USD) in 2021. The province’s average production value of a hectare of agricultural land was 135 million VND in 2021.

The value of agricultural production increased by 2.7% in the first six months of this year, obtaining nearly 20 trillion VND, equivalent to 50.9% of the yearly plan. It contributed 0.4 percentage points to the province’s gross regional domestic product (GRDP).

The province will strive for annual growth of 3% in the added value of agro-fishery-forestry products by 2025. The average production value per one hectare of agricultural land is projected at 140 million VND a year. The value of agro-fishery-forestry products produced by cooperatives and other forms of production linkages should account for 20% of the province’s total value of those products.

The value of high-technology products should also account for 20% of the total in the period./.

Source: Vietnam News Agency

As the number of COVID-19 cases is increasing, experts have issued new warnings on the importance of preventive measures and vaccine boosters.

The Ministry of Health (MoH) reported nearly 1,300 new cases of COVID-19 on Thursday, an increase of 100 cases from the day before. The new cases were mainly due to the BA.4 and BA.5 variants of the Omicron strain.

Associate professor Tran Dac Phu, former director of the General Department of Preventive Medicine under the MoH, said that the easing of anti-pandemic measures and neglect of preventive measures were behind the increase.

“People do not wear masks and do not take preventive measures, even in high-risk areas. Those with symptoms also do not quarantine, do not make a medical declaration, and do not get tested, so they do not know if they have COVID-19 or not,” said Phu.

He added that the number of new cases was not exact, because testing was no longer carried out, so asymptomatic cases were not included in the total.

Phu believes it is important to protect people at high-risk, such as those with underlying diseases, the elderly, and people who have not received a full course of vaccine.

Effective protective measures are still disinfection, wearing masks in high-risk areas such as hospitals and crowded places, or avoiding contact with infected people.

It is necessary to have booster doses of the vaccine to limit the number of new cases and avoid overloading the healthcare system.

Phu said that the health sector must properly assess the risk based on the real number of infections in their managed areas. They should assess severe cases and those under treatment.

“We have loosened preventive measures but still have to ensure control,” he said.

Phu said booster jabs were crucial in preventing the disease, avoiding severe cases, preventing the health system from becoming overloaded and reducing mortality.

“We must educate people on the vaccines, especially the elderly and people with underlying diseases,” said Phu.

Vietnam still has 21.5 million doses of COVID-19 vaccine in stock, mainly Pfizer and Moderna vaccines, said Duong Thi Hong, deputy director of the National Institute of Hygiene and Epidemiology.

The rate of booster doses for children over 12 had not reached the plan, she said. And the rate of basic doses for children between five and under 12 years old was also the same./.

Source: Vietnam News Agency

President Nguyen Xuan Phuc has asked the Korea & Vietnam Economic and Cultural Association (KOVECA) and economic organisations of RoK to encourage the Republic of Korea’s businesses to increase investment in Vietnam, especially in the fields of high technology, renewable energy, environmentally friendly industires and technological transfer.

He made the suggestion at a reception for visiting KOVECA Chairman Kim Kill-soo in Hanoi on July 23.

The President also urged the association to coordinate with the Vietnamese Embassy in the Republic of Korea (RoK) and Vietnamese agencies and localities in organising many activities to celebrate the 30th anniversary of the two countries’ diplomatic ties.

There are about 200,000 Vietnamese people living in RoK and vice versa. The State leader said that this is an important bridge to promote  the friendship relations between the people of the two countries. He called on the association to coordinate with the Vietnamese Ambassador to RoK to support and protect Vietnamese people who are living, working and studying in the country, suggesting that KOVECA and other RoK culture, art, and sports organisation should enhance cooperation with Vietnamese partners to deepen people-to-people exchanges and bilateral collaboration.

The President said that economic cooperation is always a bright spot in Vietnam-RoK ties, achieving many outstanding results.

RoK has always been the leading investor in Vietnam with nearly 80 billion USD. Trade turnover between the two countries also reached nearly 80 billion USD, which is expected to increase to 100 billion USD next year, he said, adding that the two countries have also cooperated well in the fields of official development assistance (ODA), labour and tourism.

He emphasised the important contributions of the KOVECA with many activities to promote cooperation with the Association for Liaison with overseas Vietnamese as well as the organisation of the Korea-Vietnam Cooperation Forum in Ho Chi Minh City and Hanoi from July 22 to 24.

For his part, the KOVECA Chairman said more and more Korean enterprises are interested in investing in Vietnam, adding that they want to pour capital into the development of projects in the Red River area with the expectation of making it like the miracle of the Han River in the RoK.

Representatives of a number of Korean associations attending the meeting also hoped that the two countries would promote cooperation in the fields of waste and wastewater treatment, employment, and sports exchange./.

Source: Vietnam News Agency

Prime Minister Pham Minh Chinh attended an art programme held by the Ministry of Culture, Sports and Tourism and the People’s Committee of Nghe An central province in Anh Son district on July 23.

The event was intended to mark the War Invalids and Martyrs Day (July 27), the 60th anniversary of the Vietnam-Laos diplomatic ties and 45 years of the signing of the Vietnam-Laos Treaty of Amity and Cooperation.

Within the framework of the programme, PM Chinh presented 20 houses to social policy beneficiaries in Anh Son district.

The ministry also handed over 75 gifts worth 750 million VND (32,044 USD) to local social policy beneficiaries.

Earlier, PM Chinh offered incense at a site dedicated to late President Ho Chi Minh, and at the Vietnam-Laos International Martyrs’ Cemetery in Anh Son, which is the resting place of more than 11,000 Vietnamese volunteer soldiers and experts who lost their lives while performing duties in Laos. Also on July 23, the PM visited and presented gifts to Bui Duc Don, a war veteran in Thach Son commune, and the family of martyr Nguyen Sy Viet in Phuc Son commune, Anh Son district./.

Source: Vietnam News Agency

Many banks have so far not only closed their doors to real estate development borrowers but also restricted loans to home buyers.

Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has not yet resumed lending to the real estate sector, except for the bank’s employees and relatives to buy, build or repair real estate for living purposes, since the bank announced the suspension of home loans for individual customers in early April 2022.

According to Sacombank’s leaders, the bank has focused on lending to manufacturing sectors, prioritised sectors, including agriculture, rural areas, export, supporting industries, small and medium-sized enterprises, high-tech enterprises, trade and service industries with high added value such as export, service and logistics.

Sacombank and many other banks have suspended real estate lending, including individual home loans.

Trinh Bang Vu, head of Shinhan Bank Vietnam’s loan division, said as the bank used up most of the credit quota granted by the State Bank of Vietnam (SBV), it is currently suspending disbursement for individuals to buy houses.

Previously, Shinhan Vietnam was considered one of the foreign banks in Vietnam applying the most competitive interest rates for home loans, at about 6-8% per year.

A leader of another bank said his bank had stopped disbursing real estate loans since the end of March 2022 to meet the SBV’s regulations on credit growth. Since then, the bank has focused on lending for production and business.

According to the SBV, by the end of April 2022, banks’ total outstanding loans to the real estate sector reached more than 2.28 quadrillion VND, up 10.2% compared to the end of 2021 and accounting for 20.44% of total outstanding loans in the economy.

SBV’s deputy governor Dao Minh Tu said SBV found some banks funded large amounts of consumer loans that were related to real estate to individual customers, which had many potential risks if there was a sharp decline in the real estate market.

In the second half of 2022, many uncertainties are unfavourable for the economy. Therefore, the central bank will combine flexibly fiscal and monetary policies to ensure market capital supply and control inflation.

SBV will aim to disburse loans to prioritised areas to help firms return to normal production and business as before the pandemic, and rebound the economy besides strengthening the control of high-risk sectors such as securities and real estate.

Nguyen Quoc Hung, general secretary of the Vietnam Banks Association (VNBA), said up to 70% of collateral assets at banks are currently real estate, so banks will be the most vulnerable if the real estate market declines if they continue to lend the industry.

Meanwhile, finance and banking expert Dinh The Hien said the credit growth rate of more than 10% per year in the real estate sector was not worrisome, and it still needed to be strictly controlled to direct loans to the residential sector with real needs but not the speculative segment./.

Source: Vietnam News Agency