Distinguish between economic growth and economic development

Illustrative image. (Photo: baobacgiang.com.vn) Bac Giang (VNA) - Bac Giang province is accelerating the implementation of digital transformation, with a focus on developing the digital economy. The province will also provide digital services to people and businesses to meet the requirements of socio-economic development, and ensure local security and defense, according to Vice Chairman of the provincial People’s Committee Mai Son. GRDP ) by 2025. digital economy and sharing economy in the locality. Bac Giang province is accelerating the implementation of digital transformation, with a focus on developing the digital economy. (Photo: baobacgiang.com.vn) According to Director of the provincial Department of Information and Communications Tran Minh Chieu, in the first nine months of 2022, the province has achieved many results in digital economic development. VNA … [Read more...] about Bac Giang takes action to develop digital economy

At the event. (Photo: VNA) Can Tho (VNA) – Sharing experience in response to challenges arising from new trends in international trade and investment was the focus of a conference held in Can Tho city on November 30. The event, which was jointly organised by the Ministry of Foreign Affairs in coordination with the People’s Committee of Can Tho city and Hanns Seidel Foundation Vietnam, offered an opportunity for the local administration and businesses to take advantage of opportunities from the new trends and create momentum for the Mekong Delta to over difficulties and lay a foundation for sustainable growth in the future. In her remarks, Nguyen Bich Thuy, Deputy Director of the Department for Multilateral Economic Cooperation at the Ministry of Foreign Affairs, said that the COVID-19 pandemic has affected all aspects of the socio-economic life and changed the way the economy and commercial model operate. This caused difficulties in production and business, … [Read more...] about Conference seeks to tackle challenges in international trade, investment

In the first 10 months, the textile and garment industry recorded about 38 billion USD in export value, up 17.2 per cent year-on-year. (Photo: moit.gov.vn) Hanoi (VNS/VNA) - The Vietnam Textile and Apparel Association (VITAS) has set a goal of helping Vietnam's textile and garment industry be more environmentally friendly by 2030. By 2023, the industry plans to reduce energy consumption by 15% and water consumption by 20%. Green growth is an important part of sustainable development. In recent years, enterprises in the textile - garment - footwear industries have paid special attention to this issue. According to Truong Van Cam, VITA's general secretary, a greener textile and garment industry not only contributes to implementing the national strategy on green growth but also fulfils the requirements of large textile and garment import markets in the world, such as the European Union (EU). Vietnamese textile-garment and leather-footwear firms need to improve the … [Read more...] about Vietnam to reduce environmental impact of textile-garment industry by 2030

Chairman Vuong Dinh Hue congratulated the important achievements that Albanese's Government has made over the past six months, especially in economic development, social security and climate change response, affirming Australia's reputation and role in the international arena. For his part, PM Albanese emphasized that the official visit to Australia by Chairman Vuong Dinh Hue and the high-ranking delegation of the Vietnamese National Assembly is the first high-level visit between the two countries since they fully reopened their borders. It is of great significance in the context of the two countries preparing to celebrate the 50th anniversary of diplomatic relations next year, he said. He appreciated the practical results of his recent meetings with President Nguyen Xuan Phuc and Prime Minister Pham Minh Chinh in the framework of the Asia-Pacific Economic Cooperation (APEC) Economic  Leaders’ Meeting and the Association of Southeast Asian Nations (ASEAN) Summits, respectively. … [Read more...] about National Assembly Chairman meets Australian Prime Minister

An advertisement for corporate bonds. (Photo: baodautu.vn) Hanoi (VNA) - After strong growth in the previous quarter, Vietnam’s currency bond market contracted 0.2% due to a decline in the Government bond market and slower growth in corporate bonds. On an annual basis, the market increased 21.1% to 97.4 billion USD. The information was released in a recent report by the Asian Development Bank (ADB). The country's Government bonds contracted 2% as the outstanding stock of central bank bills fell 70.3% from the previous quarter. Outstanding government bonds reached 67.3 billion USD. Expansion of corporate bonds moderated to 4.1% from the previous quarter, putting the segment at 30.1 billion USD. The report said that aggressive monetary tightening in advanced economies has pushed up bond yields and worsened the downturn of financial conditions in emerging East Asia. Regional currencies fell against the US dollar, equities dropped, and risk premiums widened between … [Read more...] about Vietnam’s bond market contracts amid monetary tightening

Addressing the event, President of the Vietnam-Romania Friendship Association (VRFA)'s chapter in Ho Chi Minh City Nguyen Truong Giang said Romania is one of the first countries to officially recognize the Democratic Republic of Vietnam and has always supported and assisted the Vietnamese people during their struggle for national independence and reunification as well as their current construction and defense. In addition to providing aid in the fields of construction, oil and gas, and railway, Romania has trained more than 4,000 students and post-graduates for Vietnam, many of them have become experts and managers with great contributions to the country’s development, he added. Over the past years,  the municipal VRFA has carried out many activities to support the Romanian Embassy in Vietnam and acted as a bridge to promote solidarity, friendship and cooperation between the people of Ho Chi Minh City and Vietnam and their Romanian peers. For her part, Romanian Ambassador to … [Read more...] about Romania’s National Day celebrated in Ho Chi Minh City