Le Thanh Thao Li Yong, director general of the United Nations Industrial Development Organization (UNIDO), recently said at the 2018 World Manufacturing Forum in Italy, “Industry has proven itself as an unrivalled eradicator of poverty throughout the ages, by raising incomes, creating added value, and enabling greater social mobility. No country has ever risen to developed country status without a strong industrial policy focus.” However, too often in the past industrial development has also been accompanied by environmental degradation and increased social inequalities. By and large, today’s manufacturing takes raw materials from the environment and transforms them into new products, which are then disposed into the environment after use. Eventually, limited raw materials run out and waste accumulates, either incurring expenses related to disposal or else polluting. For more than 50 years, UNIDO has worked towards a truly sustainable industry. In doing so, UNIDO … [Read more...] about Maximising advantages of the circular economy
Developing economy characteristics
Diplomatic efforts benefit economy
Last Monday, Vietnam’s top leaders highlighted big diplomatic achievements at the 30th Diplomatic Conference On August 12-17, Hanoi witnessed Vietnam’s largest-ever diplomatic conference, with the participation of over 1,000 delegates. This year, the biennial conference, which was initiated in 1957, discussed issues relating to economics, trade, investment, defence and security, culture and society, and the Party’s and the state’s foreign policies. The conference, themed “Vietnam’s diplomacy: proactiveness, innovation, and effectiveness towards successfully implementing Resolutions of the 12th National Party Congress,” was organised against a backdrop of rapid changes on the world stage, as Vietnam is strongly boosting its international integration with a focus on promoting its image and position in the global arena, attracting investment, and expanding trade networks. Great strides Prime Minister Nguyen Xuan Phuc stated that by implementing … [Read more...] about Diplomatic efforts benefit economy
Binh Thuan develops sea-based economy
The coastal province of Binh Thuan is located in a region with the richest sea culture in Vietnam, boasting diversified sea cultural relics. The province has for years focused on exploiting local sea culture to create tourism products that carry the distinguishing characteristics of the province. At dawn in the Mui Ne fishing village, the sounds of a new day grow more bustling as the sunlight shines on the water. The fish traders are eagerly waiting for fishermen to bring the early harvest ashore. "Before there were no tourists here, so life was difficult. Now as more foreign tourists are coming to the village, locals are living better lives thanks to exploiting sea resources," said fisherman Tran Ngoc Tuan. Boasting a 192km coastline with spectacular views thanks to blue sea water and white sand, Binh Thuan province has long been draw tourists both domestic and foreign. Along with a picturesque landscape, it is the sea culture of locals that keeps vacationers longer in … [Read more...] about Binh Thuan develops sea-based economy
Legal framework needed to boost startup development
In developed countries around the world, there are special incentives to promote startups, which have helped form a series of new startup models, support funds, intermediaries and brokers that support startups to improve their product value and bring added value to the economy. The most successful startups have quickly become the leading technology companies in the world, such as Google, Facebook and Viber. The aforementioned enterprises apply new and effective technological trading methods on the world’s scientific and technical market, generating transaction’s worth several hundred fold over traditional deals. Take Viber, one of the most popular mobile apps for communications, as an example, it was sold for around US$900 million; or OneBox, which offers Internet-based fax solutions, which was sold for US$850 million. In Vietnam, the startup movement has become more active and developed in recent years, with the rapid increase of incubators and facilities that boost … [Read more...] about Legal framework needed to boost startup development
Cyber security law should facilitate businesses’ development: workshop
Illustrative image (Source: Internet) Hanoi (VNA) – Regulations of the draft law on cyber security should create a legal framework to avoid negative consequences on enterprises and the development of information technology and telecommunications, said Deputy Minister of Information and Communication Nguyen Minh Hong. Addressing a workshop in Hanoi on May 8, Hong stated that cyber security should ensure cyberspace operations, while not harming national security, social order and safety, as well as legitimate rights and interests of organisations and individuals. The draft law on cyber security is expected to be submitted to the National Assembly for discussion latter this month. According to the Institute for Policy Studies and Media Development, the draft law can directly regulate and affect the rights and interests of three enterprise groups, including enterprises that produce and sell cyber security devices and technological solutions, enterprises that provide financial … [Read more...] about Cyber security law should facilitate businesses’ development: workshop