Day: August 27, 2022

The Ministry of Agriculture and Rural Development has asked central Quang Nam province to review the location of a project to build a road to Ngoc Linh ginseng development area in Nam Tra My district, which occupies more than 25 hectares of natural forest.

In the document sent to the provincial People’s Committee, the ministry said the Mang Lung – Dak Lay road project to the Ngoc Linh ginseng development area was not eligible for appraisal.

In March 2020, the provincial People’s Committee asked the ministry to seek the Government’s permission to change the land use purpose of 26.5 hectares of natural forest to build the road in Nam Tra My district.

The road was part of a project on the conservation and development of Ngoc Linh ginseng approved by the Government in 2015.

In reply to the province’s proposal, the ministry said the province’s submitted documents had not been updated according to the size of the project area, which increased by 8.9 hectares.

The project’s environmental impact assessment report, approved by the provincial People’s Committee in 2017, had a land use of 17.6 hectares instead of 26.5 hectares.

Meanwhile, in the appraisal report in 2015 of the provincial Department of Planning and Investment, the land use area was only six hectares.

The ministry said the report in 2020 and the provincial People’s Committee project files were submitted more than 17 months ago.

All the reports were no longer suitable for land use planning for the 2021-2030 period.

The ministry said the legal basis for appraising the project’s application for change of land use purpose has changed.

It asked the People’s Committee of Quang Nam province to review and complete the dossier and re-implement the procedures for submitting the proposal on changing land use purposes to comply with the law.

It added that the Government had not yet approved the project’s proposal to change the land use purpose for its road construction.

According to the provincial committee’s reports, among 26.5 hectares of forest proposed to change its use purpose, 15.65 hectares of natural forest belong to the strictly protected subdivision of Ngoc Linh Nature Reserve.

Under the Government’s Decree 83, projects must not be located in the strictly protected sub-zone of special-use forests.

The ministry has asked the committee to study and review the area’s location that needs to be converted to ensure compliance with provisions of the forestry and related laws./.

Source: Vietnam News Agency

With 367 islands, more than 300 beaches, and a diverse and rich ecosystem, Cat Ba archipelago in Cat Hai district, Hai Phong city, is an attractive destination to both domestic and foreign tourists all year round.

The dramatic landscapes are characterised by limestone cliffs, coral reefs, lagoons, beaches, and mangrove forests. In 2004 UNESCO recognised the archipelago as a World Biosphere Reserve.

Cat Ba has been included in the bucket list of many nature-lovers who wish to explore its variety of natural ecosystems. Particularly, Cat Ba National Park has 4,500 hectares of primeval forest, providing habitat for many rare flora and fauna as well as animals that have been listed in the Red Book of Vietnam such as langurs, black squirrels or Chittagong wood.

To those keen on exploring bays, islands and caves, they could take one of the many cruise ships sailing along Lan Ha Bay and you may even be welcomed by the monkeys, ‘hospitable’ residents of Ca Dua island that is dubbed as ‘Monkey island’.

They could also kayak to explore Sang (Light) Cave and Toi (Dark) Cave or scuba dive to get immersed in the colourful world of corals.

One of the most popular tourism activities in Lan Ha Bay is rock climbing, a thrilling experience that is popular abroad but still quite rare in Vietnam.

Endowed with diverse and rich ecological resources, trekking has also thrived and attracted many tourists, especially young ones, to Cat Ba. The routes that they favour are mainly those passing low mountain terrain or valleys with beautiful, unspoiled natural landscapes and cultural-historical heritage sites like Quan Y Cave or Trung Trang Cave.

In order to protect and properly exploit the natural resources of the archipelago, the Hai Phong authority is making a dossier seeking UNESCO’s recognition of Ha Long Bay-Cat Ba archipelago as a World Heritage site./.

Source: Vietnam News Agency

Using machines to cultivate fruits in the country still has limitations and the harvesting stage is done mostly by hand, experts said.

Fruits are one of the country’s key agricultural products for export and the country has 1.18 million hectares of fruits as of last year, according to the Ministry of Agriculture and Rural Development’s Department of Economic Cooperation and Rural Development.

Speaking at a recent seminar held in the Mekong Delta province of Tien Giang, Vu Van Tien, deputy head of the department, said mechanising the country’s fruit cultivation is focused on land preparation, tending, harvest, transportation and processing, and post-harvest preservation.

Mechanisation for land preparation is used on more than 90% of the country’s total fruit area and 70-80% for tending, he said.

In the harvesting stage, most fruits are harvested manually, he said.

To increase yield and quality, reduce labour and production costs, and enhance competitiveness, it is necessary to increase mechanisation in harvesting, he added.

Nguyen Duc Long, Deputy Director of the Vietnam Institute of Agricultural Engineering and Post–Harvesting Technology, said machines used in the country’s fruit cultivation are focused mostly on the land preparation and tending stages such as irrigation and spraying pesticides.

“Mechanisation for the country’s fruit cultivation is only implemented in each separate cultivation stage and has not been implemented synchronously for all the cultivation stages,” he said.

Small scale cultivation, scattered growing areas, and fruit growing areas mostly owned by households who have limited mechanisation capacity are major reasons hindering the process of mechanisation, he said.

Meanwhile, there are not many types of machines and facilities that meet the requirements of mechanisation and suit the cultivation situation in the country, he said.

In addition, investment in researching mechanisation for the country’s agriculture production is still modest, he said.

To increase mechanisation, the country needs to identify the potential and advantages of each locality to choose types of machines and facilities suited for each kind of fruit, he said.

In addition, it is necessary to establish large-scale growing areas and upgrade transport infrastructure for agriculture production in rural areas, he said.

Besides researching and using agricultural machines and facilities, the country should prioritise applying smart devices to manage information and data for agricultural production, according to participants at the seminar.

It is also necessary to develop human resources for modern agricultural production, including workers who operate modern agricultural machines, they said.

The Government and the Ministry of Agriculture and Rural Development have implemented various policies to boost mechanisation in agricultural production in recent years.

Fruit growers in the country, especially in the Mekong Delta, have used more machines in cultivation.

The delta has 400,000ha of fruits with an annual output of 4.3 million tonnes, accounting for 60 % of the country’s total output.

Vo Huu Thoai, head of the Southern Fruit Research Institute, said mechanisation for fruit cultivation in the Mekong Delta has yielded positive results.

In a specialised durian growing area covering more than 15,000ha in Cai Lay district, which is Tien Giang province’s largest durian producer, farmers have strengthened mechanisation in tending orchards.

In the area, stages such as pumping irrigation water into orchards, irrigating trees and spraying pesticides are done by machines.

Some large farms have applied mechanisation in harvesting fruits to reduce harvesting cost, reduce depending on harvest workers and meet harvest requirements, he said.

Vo Van Lap, head of Tien Giang province’s Sub-department of Rural Development, said the province has strengthened mechanisation in agricultural production.

In fruit cultivation, the use of machines for land preparation is 84.3% of the province’s total fruit growing area; for pumping water and spraying pesticides, 100%; and using efficient irrigation systems, 59%.

Tien Giang is the country’s largest fruit producer./.

Source: Vietnam News Agency

Vietnam recorded 2,197 new COVID-19 cases on August 27, according to the Ministry of Health.

The new infections brought the country’s total caseload to 11,401,597.

A total of 13,939 patients were declared to recover from the disease, lifting the total number of recoveries to 10,140,204.

Meanwhile, the death toll from the disease rose to 43,111, accounting for 0.4% of the total infections, after a fatality was reported in the northern province of Ninh Binh on August 27.

So far, more than 255.56 million doses of COVID-19 vaccines have been administered in the country./.

Source: Vietnam News Agency

The number of arrivals to tourist sites in the central city of Da Nang during the National Day holidays from September 1 to 4 is projected to grow 38% from the figure in 2019.

These places did not receive visitors on the occasion over the past two years due to the COVID-19 pandemic. A number of local destinations expected to receive high numbers of holiday-makers this year include the Sun World Ba Na Hills, Asia Park, Nui Than Tai Hot Springs Park, Marble Mountains, and Mikazuki Water Park 365.

According to the municipal Department of Tourism, airlines have added more flights from Ho Chi Minh City and Hanoi to Da Nang, serving the increasing travel demand.

It is expected that about 531 domestic and international flights will carry some 60,300 passengers to the central economic hub during the period. Of the sum, there will be approximately 95 international flights with 13,300 people onboard.

The department has requested tourism service providers to ensure offering good experiences for tourists.

The city, meanwhile, has scheduled a series of activities to serve both residents and visitors. Among them are a golf tourism festival, a yacht race, a street show of music, magic, and dances, and an exhibition.

A number of local tourist destinations and museums are set to continue offering free or discount entrance fees for tourists./

Source: Vietnam News Agency

Deputy Prime Minister Le Van Thanh has signed a decision to promulgate a national plan on aquaculture development in the 2021 – 2030 period.

The scheme’s overall aims is to develop aquaculture sustainably in response to climate change. The plan is also being set in place to improve productivity, quality, value, and competitiveness of aquatic products. This will help meet demand from domestic and international markets as aquaculture develops further in Vietnam.

As per the plan, by 2025, the total aquaculture production and export value will reach 5.6 million tonnes and 7.8 billion USD per year, with an annual rate of value growth averaging 4%.

It set the goal for the domestic production to be capable of supplying a large volume of products and sufficient breeding facilities for aquatic animals with high value.

Meanwhile, more than 30 concentrated aquaculture rearing and breeding areas will be invested and upgraded serving production requirements.

Vietnam issues national plan on aquaculture development for 2021-2030 hinh anh 2

Illustrative photo (Source: VNA)

The plan also sets out a target of building a supply chain, processing and consumption to ensure a stable output for over 30% of the total aquatic production.

By 2030, the yield of the sector is expected to hit 7 million tonnes annually, and contribute to better job creation and income improvement for workers.

Tasks set for the sector to press ahead include building and developing aquaculture areas to ensure food safety as well as increasing the use rate of domestic raw materials to reduce costs.

All economic sectors will be encouraged to invest in technology transfer, build facilities for the production of materials and equipment, improve competitiveness, and provide domestic services serving production and cost reduction./.

Source: Vietnam News Agency

Over the past 77 years, Vietnam, under the sound leadership of the Communist Party of Vietnam and the Government, has grown in all spheres, bring progress, prosperity, and better prestige to the nation in the region and in the world, said a Cambodian official.

Governor of Cambodia’s Preah Sihanouk province Kouch Chamroeun made the remarks at a ceremony held by the Vietnamese Consulate General here on August 26 to celebrate Vietnam’s 77th National Day (September 2).

The official affirmed that 55 years after the establishment of their diplomatic relations, Vietnam and Cambodia have consolidated and enhanced their solidarity, traditional friendship, and mutual gratitude.

Vietnam is grateful for the sacrifices of the Cambodian people for its cause of national harmony and reunification in the 60s and 70s, while Cambodia remembers and is grateful for the sacrifices of Vietnamese soldiers and people for its cause of liberating the people from the Pol Pot genocidal regime in the 70s and 80s of the last century, he added.

The bilateral ties have recorded myriad important achievements across sectors for the sake of their people and for peace, stability, and development in Southeast Asia, he noted.

The official also highlighted the two sides’ efforts to improve the effectiveness of their cooperation mechanisms via the Party and Government channels and to increase the exchange of delegations at all levels as the basis for developing their comprehensive collaboration.

For his part, Vietnamese Consul General Vu Ngoc Ly expressed his confidence in the further growth of the cooperative relations between the two nations./.

Source: Vietnam News Agency

Mergers and acquisitions (M&A) in the banking industry are expected to remain high for the rest of the year as the industry continues the digital transformation process, according to experts.

According to PricewaterhouseCoopers (PwC), the financial services (FS) industry’s need for digital capabilities, combined with sustained pressure from regulators and disruption from platforms and fintechs, means M&A will continue to be a driver for transformation.

It also explains why FS is second only to technology, media and telecommunications (TMT) in terms of M&A investment, accounting for almost a quarter of deal value in the first half of 2022. A continued focus on technology, the growing demand for sustainable investment options, and lower valuations will keep M&A activity high during the second half of this year.

Ong Tiong Hooi, PwC Vietnam’s Partner, said: “Despite macro-economic headwinds, 2022 will be another robust year for M&A transactions in Vietnam. M&A activities continue to attract a lot of attention from foreign investment funds. We’re seeing an acceleration of strategic decisions to enhance portfolio optimisation, as dealmakers divest to free up capital to focus on acquiring capabilities and transforming core business areas through M&A.”

According to Ong, Vietnam’s economic recovery remains strong with GDP growth for 2022 forecast at 6.5%, much higher than the growth forecast for the Asia Pacific region at 4.4%.

In addition, he said, with supportive regulations and policies for investors, the second half of 2022 is providing an opportunity for dealmakers to reassess strategy and act boldly.

“Dealmakers are adapting to a new business climate in which, short-term volatility in financial markets, inflationary pressures, rapidly rising interest rates, supply chain disruptions and geopolitical tensions all appear to be developing into longer-term trends.

“That is the time for true leaders and best-in-class dealmakers to make bold moves and set the stage for the next five years, meeting the targets that matter most to their business or portfolio. M&A could be the way to pursue opportunities that deliver value in a challenging economy.”

Yoshisawa Toshiki from Aozora bank also said M&A activities will increase sharply after the pandemic, of which M&A in finance and banking in Vietnam will be better, thoibaonganhang.vn reported.

Currently, the Vietnamese Government has policies such as equitising State-owned enterprises and banks, and restructuring weak, undercapitalised and substandard banks. This is an opportunity for foreign organisations to make investments. Japan’s medium-sized banks are also considering the financial market and M&A in Vietnam, Toshiki said.

A banking expert, who declined to be named, also shared there are many factors expected to attract foreign investors to M&A activities in the near future. Despite being under a lot of pressure, Vietnam is still controlling inflation well, while economic growth is recovering strongly with high consumer demand. When the economy grows positively, banking activities also prosper as banks are able to expand their credit and boost retail activities.

In order to increase the attractiveness for foreign investors to participate in M&A deals in the banking sector, experts recommended the Government loosen the foreign ownership room in domestic banks. Expanding foreign ownership not only helps banks increase capital but also makes foreign investors feel secure to invest more in the Vietnamese market. However, the expansion should be given only to reliable foreign investors, who have been proven as large banking and financial institutions in developed countries.

According to experts, with transparent and reputable financial institutions, if their ownership rate increases, they can use their financial and governance strengths to help domestic banks recover well and ensure healthy development. Vice versa, if their ownership rate is too low, they will not focus much on the banks to enable significant changes./.

Source: Vietnam News Agency