Petrol retail prices in the country have been adjusted many times over the past few months, Photo: Le Toan In Vietnam, gasoline prices continue to increase, and after the adjustment on May 11 by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance, each litre of E5 RON92 petrol increased by 6.5 US cents to $1.26 per litre while RON95 climbed by 6.7 US cents to $1.30 per litre. On May 17, the price of US WTI crude oil remained at a high level of over $114 per barrel while Brent oil maintained its upward momentum at $114.28 per barrel. Before the next adjustment, which was due on May 21, petrol prices in Vietnam were forecast to continue to increase to higher levels. The ministries first adjusted gasoline prices on January 11 due to a decrease in global supply, production output by Kazakhstan and Libya, and oil inventories of the United States. According to Decree No.95/2021/ND-CP, effective from January, there will be three adjustments each month to the … [Read more...] about Vietnam riding the wave of inflationary unpredictability
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The agency is reviewing the organizational structure, functions and tasks of local industry promotion centers while proposing solutions to enhance local industry promotion activities and policies, and working with related units to plan the 2022 national industry promotion funding allocation. Inspecting and evaluating the implementation of industry promotion projects The Agency for Regional Industry and Trade acts as a bridge with localities to ensure that directives issued by the Ministry of Industry and Trade are strictly and effectively implemented. Last year, the agency closely coordinated with localities to implement the National Industry Promotion Program with a total budget of VND75.641 billion. The program encouraged rural industrial enterprises to modernize production technology gradually, creating products of greater value and competitiveness, which also helped local businesses stabilize production during the pandemic. The ARIT will continue providing … [Read more...] about MoIT agency plays leading role in industry and trade development
The recipients were selected from Vietnamese government officials, non-governmental organizations (NGOs), academic institutions, and private sectors. They will gain a world-class education and advance their knowledge and skills across a range of areas, including natural resource management, entrepreneurship, gender equality, disability inclusion and vocational education management. This year, the Australian Government has provided 10 more scholarships within the framework of the Mekong-Australia Partnership – a regional initiative by Australia to support Mekong countries with common challenges. The recipients will be educated on necessary skills to help Vietnam deal with emerging regional challenges. According to Australian Ambassador to Vietnam Robyn Mudie, the 55 Australia Awards Scholarship recipients will contribute to strengthening the Australia-Vietnam partnership and addressing regional and national challenges in the future. For the Vietnamese part, Dr. Nguyen Tien Dung, … [Read more...] about 55 Australia Awards Scholarship recipients ready to study in Australia
The program, issued under Government Decree 42 in 2017, was set to be extended until the end of 2023. The program, since its implementation five years ago, has contributed to the restructuring of numerous financial institutions and the collection of bad debt during the 2016-2020 period, according to Nguyen Thi Hong, Governor of the State Bank of Vietnam (SBV). By the end of 2021, the program had helped handle over 380 trillion VND in bad debt, or 47.9 percent of the country's entire bad debt since August 15, 2017. On average, some 5.67 trillion VND in bad debt was processed each month during the period, significantly higher than the 3.25 trillion VND per month prior to the implementation of the program. The program had helped recover 148 trillion VND or 38.94 percent of all bad debt among financial institutions, a marked improvement over the yearly average of 22.8 percent during the 2012-2017 period. A recent SBV report said the bad debt ratio among financial institutions was … [Read more...] about Gov’t asks for extension to bad debt program
The actress from ‘Spider-Man: No Way Home’ recently participated in a video promotion campaign for the famous jewelry brand Bulgari, wearing a black jumpsuit from Cong Tri's Spring Summer 2022 collection. The top is made of satin silk and the pants, of faille material. The highlight of the design are its deep cut neckline and see-through silk sleeves. This design according to Cong Tri was made in 56 hours, using pleating techniques to create folds that add volume and texture to the outfit. Zendaya's team contacted Cong Tri in early May, saying they like his jumpsuits since it fits the idea of conveying the image of a luxurious and powerful woman. Zendaya Maree Stoermer Coleman is an American actress, singer and model. She has starred in many blockbusters, including ‘Spider-Man: Homecoming’, ‘The Greatest Showman’, and ‘Shake it Up’. In 2020, she became the youngest person in Emmy history to win the "Best Actress" award for her role in ‘Euphoria’. Zendaya was crowned the … [Read more...] about Zendaya dons Cong Tri design for jewelry campaign
Kevin Coppel, Asia-Pacific managing director (left ) and Christine Li, Asia-Pacific head of research for Knight Frank in Singapore When the US-China trade tensions bubbled over in 2018, corporates found it increasingly difficult to carry out business in China due to sourcing uncertainties and rising costs. This trend only worsened in the face of the pandemic and resulting border closures. Businesses responded by pursuing opportunities to set up bases outside of China while still retaining a stake in one of the world’s strongest economies. The China+1 strategy thus emerged. It is based on diversifying its supply base into other countries in order to minimise the risk of disruptions arising from geopolitical tensions, trade wars and tariffs, as well as rising labour costs. These companies are not abandoning China but rather giving themselves options, enjoying the best of what China and other economies have to offer. In pursuit of the China+1 strategy, the spotlight is naturally … [Read more...] about Will Vietnam become a big geopolitical beneficiary?