Day: September 8, 2022

The following is a brief review of the day’s events as reported by the Vietnam News Agency on September 8.

– A delegation of the Vietnamese Ministry of National Defence led by its Deputy Minister Sen. Lt. Gen. Hoang Xuan Chien attended the 11th Seoul Defence Dialogue (SDD-11) in the Republic of Korea (RoK) on September 7.

SDD-11, from September 6-9, brought together defence officers and experts from 54 countries worldwide, and representatives from regional and international organisations. Read full story

– The State Bank of Vietnam (SBV) decided to sharply increase the selling price of the US dollar by 300 VND to 23,700 VND/USD on September 7.

This is the third increase in the selling price of the greenback since the beginning of this year. Previously, the SBV adjusted the USD exchange rate by 200 VND to 23,250 VND/USD in May and continued to raise it to 23,400 VND/USD in early July. Read full story

– The State Bank of Vietnam (SBV) has announced adjustments to credit growth targets for banks in 2022.

According to SBV, the adjustment of credit growth targets is made on the basis of the request of credit institutions assessing their operational requirements. Read full story

– Two-way trade between Vietnam and the United Arab Emirates (UAE) was estimated at 3.3 billion USD in the first eight months of this year, with the Southeast Asian nation enjoying a trade surplus of some 3 billion USD. The Vietnamese Trade Office in the UAE suggested domestic firms set out suitable strategies for exports to the UAE which, it said, gathers many rivals due to its openness. Read full story

– MoMo E-Wallet and Starbucks Vietnam have freshly announced their cooperation that turns the former into the first of its kind integrated in the payment method at all Starbucks shops nationwide.

Through cooperation with MoMo, Starbucks Vietnam can instantly connect with the Vietnamese unicorn firm’s ecosystem of tens of millions of users. It is expected that in the near future, the two sides will research and deploy more services, and improve new features and user experience. Read full story

– The Ministry of Health has issued a guidance on the wearing of masks in public places for COVID-19 prevention and control, clarifying to who and where it is a must.

Basing on the human-to-human transmission mechanism of the SARS-CoV-2 virus, the ministry underlined that wearing face masks in public places is an effective measure to protect people’s health, especially those with underlying diseases. Read full story

– The absence of laws on energy and in particular renewable energy is causing an imbalance between the stages of production, transmission and consumption of coal-fired power, solar power, and wind power in Vietnam.

Experts mentioned this shortcoming at a recent event within the framework of the Energy Support Program (ESP), a cooperation between the Ministry of Industry and Trade and the International Cooperation Organization. Read full story

– Vietnamese airlines and destinations were named among the winners at the award ceremony of the World Travel Awards 2022 – Region: Asia & Oceania, which took place in Ho Chi Minh City on September 7 evening. The national flag carrier Vietnam Airlines won the titles of Asia’s Leading Airline – Economy Class and Asia’s Leading Airline Brand; while Vietravel Airlines was accredited as Asia’s Leading New Airline./. Read full story

Source: Vietnam News Agency

One more victim of the karaoke parlor fire in the southern province of Binh Duong has died after being hospitalised, raising the death toll to 33, according to the local police.

The police said that search activities basically completed on September 7 night. Among the 32 bodies found at the scene, 16 were female and 16 were male.

Currently, 17 injured people are receiving treatment at the hospital, including one in severe condition.

Local authorities announced that they will hold a press briefing on September 8 to provide official information on the case.

The blaze broke out around 8:48 p.m on September 6 at the karaoke parlor in An Phu ward, Thuan An city. The three-storey karaoke parlor, spanning over 1,500 square meters, was put into services in 2016.

On September 7, President Nguyen Xuan Phuc extended his deepest condolences to families of victims in the case./.

Source: Vietnam News Agency

Thai Oil Plc (TOP), Thailand’s the largest oil refining company by capacity, is looking forward to pouring its investment in Vietnam, Indonesia and India, in the fields of oil refinery, lube oil and high-value petrochemical products.

TOP expects bright prospects from business expansion into these countries.

According to The Bangkok Post, the Thai firm has facilities such as warehouses in the northern and southern regions of Vietnam.

Wirat Uanarumit, president and chief executive of TOP, said high rates of economic growth and large numbers of young people among the populations of the three countries mean these nations offer the best potential for investments in Asia.

TOP is expanding its business abroad to meet the growing demand for energy and petrochemical products./.

Source: Vietnam News Agency

A workshop on Ho Chi Minh City’s and Vietnam’s tourism business potential took place in the southern metropolis on September 7, as part of the 16th HCM City International Tourism Expo (ITE HCMC 2022).

Phan Thi Thang, Vice Chairwoman of the municipal People’s Committee, informed participants on the city’s strengths, including being a gateway and a traffic hub with connections to provinces and cities domestically and internationally.

The city houses over 4,000 lodging facilities totaling nearly 50,000 rooms. It also has a community of 1,280 travel companies and 6,934 tour guides.

Having popular tourist destinations and diverse tourism products and services, HCM City is seeing a great opportunity to capitalise on its potential and increase its competitiveness, the official noted.

Participating experts said under the impact of the COVID-19 pandemic, many people have changed their travel behaviour and habits. Traditional tourism activities have also followed suit, and creative forms of tourism are on the rise to meet the need of relaxation and discovery.

ITE HCMC 2022, the largest and most established travel event in the Mekong Delta region, is scheduled for September 8 – 10 under the theme of “Growing Forward Together” as part of the efforts to revive inbound tourism./.

Source: Vietnam News Agency

A total of 2,022 people will join a Xoe dance performance of the Thai ethnic people on September 24 night when the northern mountainous province of Yen Bai receives the UNESCO certificate for this art genre.

The art was listed as an Intangible Cultural Heritage of Humanity at the 16th session of the UNESCO’s Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage, which took place from December 13-18.

According to the committee, the art meets all of the five criteria set by UNESCO.

Xoe Thai is a unique type of traditional dance that is associated with and plays a significant role in the daily life of Thai ethnic communities in the northwest of Vietnam, especially in the provinces of Lai Chau, Dien Bien, Son La and Yen Bai. It is performed in various community activities, from festivals to funeral rituals.

There are about 30 Xoe dances, which have been developed, protected and handed down through generations intact over hundreds of years, including xoe quat (xoe dance with a fan), xoe khan (xoe dance with a scarf), xoe non (xoe dance with a conical hat) and many others with contents reflecting community activities and expressing the Thai people’s emotion. With gentle and alluring rhythms, dancers usually form a circle around a festive fire and move to the sound of melodic traditional music.

The September 29 ceremony will also see the involvement of Dien Bien, Son La and Lai Chau provinces.

On this occasion, Yen Bai will kick off the Muong Lo Culture and Tourism Week and the Mu Cang Chai Terraced Field Festival.

Do Duc Duy, Secretary of the provincial Party Committee, said the scenario for the events should be completed before September 12, and preparations will be done no later than September 21.

The programme will feature a parade with the participation of 450 people, including those from Dien Bien, Son La and Lai Chau provinces, he said.

The ceremony will be broadcast live on the national television channel and radio and television channels of northwestern provinces./.

Source: Vietnam News Agency

The State Bank of Vietnam (SBV) has announced adjustments to credit growth targets for banks in 2022.

According to SBV, the adjustment of credit growth targets is made on the basis of the request of credit institutions assessing their operational requirements.

The State Bank will continue to adjust credit growth in accordance with Directive No 01/CT-NHNN dated January 13, 2022 on organising the implementation of key tasks in the banking sector. In 2022, the central bank has created favourable conditions for people and businesses to access credit, and support the country’s economic recovery.

Since the beginning of this year, global inflation has increased rapidly due to the escalation of prices of many goods and raw materials caused by the Russia-Ukraine conflict and the disruption of the global supply chains. High inflation pressure has affected daily life and macroeconomic stability in many countries. As a result, most central banks globally have taken strong measures to tighten monetary policy and raise interest rates to control inflation.

Vietnam’s credit-to-GDP ratio – based on the new GDP calculation method – stands at 124%, as assessed by the World Bank (WB). This rate – based on the old way of calculating GDP – has surpassed 140%. These numbers are among the highest in the world and reach a warning level of high risk.

In order to obtain the country’s GDP growth target of between 6-6.5% and an average inflation rate of 4% set by the National Assembly and the Government, the SBV has continued to regulate monetary policies actively, flexibly and strictly cooperate with fiscal policies and other macroeconomic policies to control average inflation at about 4% according to objectives in 2022, sustain macroeconomic development, assist economic development, promptly adapt to domestic and foreign market development. In 2022, credit increases by approximately 14%, with adjustments in accordance with practical situations.

In addition, the SBV has announced a credit growth target in 2022 based on the credit rating of each institution. The central bank has also worked with banks to handle poor credit institutions and reduce lending interest rates for businesses.

As of August 26, credit growth rose by 9.91% against late last year. This is a high increase compared to the same period in recent years. Credit structures are mainly focused on the production and business sector while loans to potential risk sectors are strictly controlled by the State Bank./.

Source: Vietnam News Agency

The 16th Ho Chi Minh City International Tourism Expo (ITE HCMC 2022) themed “Growing Forward Together” kicked off in the city on September 8.

Addressing the opening ceremony, Chairman of the municipal People’s Committee Phan Van Mai stressed that Vietnam has witnessed an impressive tourist growth after it fully reopened tourism activities from March 15.

The country welcomed 81 million domestic and foreign tourists in the first eight months of 2022, raking in an estimated 356.6 trillion VND (over 15.1 billion USD), 1.61 times that of the same period last year.

Mai said the country’s largest hub in the south served 18.15 million visitors in the period, earning 74.5 trillion VND, surging by 90.6% year-on-year.

ITE HCMC 2022, the largest and most established travel event in the Mekong Delta region, is scheduled for September 8 – 10 as part of the efforts to revive inbound tourism.

The event, which features 210 booths from domestic travel firms and 50 others from foreign companies, is hoped to offer a venue for travel agencies in and outside the country to set up tourism partnerships.

In the frameworks of the expo, symposiums, workshops and promotion tourism programmes will be arranged, aiming to seek solutions to strongly promote post-pandemic tourism rebound./.

Source: Vietnam News Agency

As of September 7, more than 4.6 million labourers nationwide had received housing rent support worth over 3.1 trillion VND (over 131.46 million USD) under a recent decision of the Prime Minister, equivalent to 83.3% of the total approved registrations.

According to the Ministry of Labour, Invalids and Social Affairs (MoLISA), over 5 million employees affected by the COVID-19 across the country have been approved for the support in accordance with the policy, with a total value of over 3.6 trillion VND (over 152.6 million USD).

As many as 41 localities across the country have completed the disbursement.

Decision No.08/QD-TTg dated March 28, 2022, aims to assist workers who face housing difficulties and to help enterprises maintain production and attract back employees who left the country’s production hubs for their hometowns during the COVID-19 pandemic.

Under the decision, labourers working in enterprises will receive 500,000 VND (22 USD) per person each month and those returning to the labour market, 1,000,000 VND.

The performance of localities will be one of the bases for monitoring and evaluating the implementation of labour, employment and social security policies./.

Source: Vietnam News Agency