Dedicate my effort
Deputy Minister of Science and Technology Bui The Duy made the suggestion at a recent working session with the HCM City People’s Committee regarding the implementation of a national strategy on AI research, application and development by 2030.
He underlined that to promote AI development, the information and communications sector needs to create a market for AI products while the education sector must focus on appropriate training.
In terms of human resources for AI, the deputy minister said the southern city should pay attention to training programs to disseminate knowledge and connect hi-tech parks, software technology parks, and start-up incubators.
Vice Chairman of the municipal People’s Committee Duong Anh Duc placed emphasis on acquiring experts in the field and proposing policy amendments to the Party Central Committee, while seeking permission to pilot policies on AI personnel and the use of and investment in AI products.
The Ministry of Science and Technology has been asked to devise orientations towards the building of three national centres on data archiving and to measure efficiency in the national strategy.
The management board has coordinated with relevant units to implement security and order plans, while putting 70 electric cars into operations to facilitate tourists’ travel between attractions.
In addition, COVID-19 prevention and control measures have also been carried out, including reminding people to wear face masks in public places and arranging enough antiseptic solution at the areas of pagodas, temples and venues for cultural activities.
* On April 18, Phu Tho Province held a rowing tournament on a lake within Van Lang Park drawing the participation of 130 athletes on six teams from Viet Tri City and the districts of Tam Nong, Doan Hung, Thanh Thuy and Cam Khe. The event was part of the 2021 Hung Kings’ Death Anniversary – Hung Temple Festival programme. Rowers competed fiercely on a distance of 2.6 kilometres, with the first prize claimed by the team Viet Tri 1. Teams from Tam Nong and Cam Khe took the second and third prize, respectively.
* On April 17-18, on a water stage at Khuon Muoi Lake within the Hung Temple Relic Site, the delegation of the Phu Tho Provincial Department of Culture, Sports and Tourism displayed a water puppet show to serve locals and visitors to the 2021 Hung Temple Festival.
* On the evening of April 18, the National Volleyball Championship – Hung Vuong Cup 2021 officially opened at the Phu Tho Provincial Gymnasium, with the participation of four men’s teams and four women’s teams.
The tournament, held annually in Phu Tho, is under the professional competition system of the Vietnam Volleyball Federation. The two final matches will take place on the evenings of April 20 and 21.
* On the same occasion, more than 150 orchid loves representing over 100 orchid establishments nationwide has implemented the programme “Bringing orchids to the origin”, during which orchids donated by localities will be transplanted in the system of green trees at the Hung Temple Historical Relic Site. The activity shows respect and tribute to ancestors of the nation, contributing to beautifying the landscape of the relic.
* On Sunday, an exhibition on “Dong Son Culture” opened at the National History-Culture Park in Ho Chi Minh City, showcasing 37 artifacts on production tools, weapons, bronze drums, daily utensils and jewelries. A Chung cake making contest in commemoration of Hung Kings was also organised at the temple dedicated to Hung Kings on the campus of the Park.
* On April 18, Phan Dinh Trac, Politburo member, Head of the Party Central Committee’s Commission for Internal Affairs and Deputy Head of the Central Steering Committee for Anti-Corruption, had a working session with Phu Tho’s provincial leaders.
At the meeting, Trac praised the drastic directions of local leaders and the efforts of relevant agencies in the province in the investigation, dismantling and trial of a recent trillion-VND online gambling case.
The delegation of the Party Central Committee’s Commission for Internal Affairs and Phu Tho’s provincial leaders plant memorial trees at the Hung Temple Historical Relic Site.
Earlier, the Politburo member and Phu Tho’s provincial leaders offered incense and paid tribute to the Hung Kings, and planted memorial trees at the Hung Temple Historical Relic Site in response to the Government’s campaign to plant one billion new trees for a green Vietnam.
Speaking at the Theoretical Council’s meeting in Hanoi, the Party leader highly valued the council’s work during 2016-2021.
He also suggested some issues needing attention in the time ahead and asked for thorough understanding of the requirements in the political theoretical work in the new period.
The leader told the council to study new theoretical issues in the world, experiences of developed countries, along with scientific – technological revolutions.
General Secretary Trong also asked the council to improve the quality and effectiveness of political theory-related advice to help the Party Central Committee , the Politburo, and the Secretariat direct national development and defence efforts./.
Exports for the year as of March 15 were worth US$62.01 billion, a year-on-year increase of 22.7 per cent, according to the General Department of Viet Nam Customs.
Exports to the US in the first two months of the year accounted for $13.83 billion or 28.4 per cent of total exports.
In recent years the US has become Viet Nam’s biggest market. Last year, for instance, at $76.4 billion it accounted for 27 per cent of the latter’s total exports.
Than Duc Viet, general director of Garment 10 Joint Stock Company, said there were several factors behind Viet Nam’s rapid growth in exports including to the US.
Primarily, he said, the COVID-19 pandemic has gradually been controlled around the world, especially after several countries started vaccinating their populations, enabling many of them to reopen their borders and trade to resume.
Businesses in the country, hit badly for the last year or so by the pandemic, are making strenuous efforts to bounce back, he pointed out.
Many countries around the world have rolled out large stimulus packages to spend their way out of the economic slump, and this has revived trade, he added.
Many analysts concurred with these views, saying the US recently launched a $1.9 trillion package to make direct payments of $1,400 to individuals earning up to $75,000 a year starting in April.
This is the third and largest stimulus since the COVID-19 pandemic broke out.
Viet Nam, one of the US’s major exporters, supplying essential items like fisheries products and garments and electronics, is expected to benefit from this relief package.
Viet of Garment 10 told Dau Tu Chung Khoan magazine that Vietnamese exporters hope to get orders from the US.
Americans are known as big spenders, and if they get the money from the Government consumption would surely rise, he said.
His own company’s exports to the US saw relatively high growth in the first quarter and are expected to grow further due to the huge new stimulus package.
Bui Viet Quang, general director of Red River Garment Joint Stock Company, said his company had enough export orders for until August this year, 80 per cent from the US.
“The US’s $1.9 trillion stimulus package will surely affect enterprises that export to the market. We expect to see robust growth [in US export orders] in the fourth quarter.”
Analysts said a recovery in the US economy would help Vietnamese exporters, especially those in the textile and garment industry.
However, analysts also sounded a warning saying while the US stimulus packages would benefit Viet Nam’s exporters in the short term, loose monetary policies could cause high inflation, which would increase their costs whereas they would not be able to increase prices immediately, affecting their margins.
Besides, the inflation would also hurt demand, they added.
Why property companies want to own banks
Nguyen Tuan Anh, director of the State Bank of Viet Nam’s department of credit for economic sectors, said growth in bank lending to the property sector in 2020 was 9.97 per cent, lower than the overall credit growth rate of 12.13 per cent.
This is becoming an emerging trend.
Enterprises in the sector have found it difficult to borrow from banks after the central bank issued a circular in 2019 prescribing limits and prudential ratios for banks.
It reduced the use of short-term deposits for medium- and long-term loans from 40 per cent to 37 per cent from October 2021 and to 30 per cent from October 2022.
This was aimed at controlling credit to high-risk sectors like real estate.
In the event, the only option real estate companies have is to themselves acquire stakes in banks.
They also target owning a piece of securities firms since that would enable them to mobilise capital from the market by issuing stocks and bonds.
Thus, Tran Thi Thu Hang, the CEO of Sunshine group, became vice chairwoman of the Kien Long Joint Stock Commercial Bank in 2018 and chairwoman of KS Joint Stock Company (KS Securities) around the same time, indicating that Sunshine or related parties had become major shareholders in the two.
Analysts said the finance and property sectors always have a symbiotic relationship since the latter is highly capital intensive with slow returns.
Thus, Vingroup has tied up with Techcombank, MIKGroup with VPBank, Dat Xanh Group with Viet A Bank, and TNR Holdings Viet Nam with MSB.
While the Government’s efforts to control lending to the property sector have had some effect, banks remain an important source of funding for real estate development projects.
This trend is expected continue in future, analysts said. VNS
Japan is the third largest trade partner of HCM City and the fifth leading investor of the city. The southern hub has formed ties with seven Japanese localities.