Highlight

A singing performance at a television show that spotlighted Vietnam-Laos relations in Hanoi on August 29 (Photo: VNA) Vientiane (VNA) – The Lao newspaper Vientiane Mai on October 6 ran an article highlighting the Vietnam-Laos partnership , affirming that the great friendship , special solidarity between the two countries should be preserved and further promoted for the common interest in the future. It underlined the significance of the special friendship and comprehensive cooperation between the two countries. Over the past 60 years, Laos and Vietnam has always stood by each other to fight their common enemies and overcome all challenges, it said. The article quoted Somsavath Lengsavath, a former Politburo member of the Lao People’s Revolutionary Party and former Deputy Prime Minister, as saying at a talk held by the Laos’ Ministry of Planning and Investment that the Laos-Vietnam Friendship and Solidarity Year in 2022 and the celebration of the 60th anniversary of … [Read more...] about Newspaper highlights significance of Vietnam-Laos ties

Manufacturing has been identified as the growth engine of Vietnam’s economy, but the added value from the industry dropped sharply after the pandemic. While in 2019, the added value increased by 8.86 per cent compared to 2018, it only increased by 3.36 per cent in 2020 and 4.82 per cent in 2021, according to the General Statistics Office of Vietnam. Vietnam’s supporting industries seeking incentives - illustration photo Tran Thi Thu Trang, director of Hanel Import-Export JSC, found the current processes tough, especially when it comes to being one step ahead to capture customer needs and orders. “If you miss a beat, you are going to be 1-2 years behind in joining the global supply chain,” Trang said. “The enterprise’s capital has been poured into investment in machinery and equipment and needs support to invest in modern technology to make products more competitive. But currently, the state does not offer specific incentives for enterprises to invest in smart equipment … [Read more...] about Vietnam’s supporting industries seeking incentives

Co-organized by the municipal federation of labor, hotels, culinary, and cultural associations, the Furama Resort Da Nang, and the USA Poultry and Egg Export Council (USAPEEC), the contest highlighted the combination of local culinary delights with chicken meat imported from the U.S. Nguyen Duc Quynh, vice chairman of the municipal tourism association and chairman of the hotels' association, said that the competition aimed to provide a healthy playground, and strengthen exchanges and connections between chefs, managers, and owners of tourism and hotel businesses in the city. As a results, the quality of services, particularly food, serving tourists to Da Nang would be improved, he said. Dang Thi Dong Phuong, chief representative of the USAPEEC liaison office, said as the number of holidaymakers to Da Nang will increase sharply from many countries around the world after the pandemic, it is necessary to serve a variety of cuisines. The contest was also a chance for chefs to … [Read more...] about Talented chefs show off skills at Da Nang competition

"Duong Lang" is among hundreds of silk and watercolor paintings by Khoa on display until Oct. 15 at The World ArtSpace in Ho Chi Minh City's Thu Duc City. The artist, who was born in Hanoi and studied at the Vietnam College of Fine Arts (the predecessor to Indochina Fine Arts College), dabbled in many different styles and subjects, but is most known for his landscapes and scenes from daily life. A watercolor painting depicts the peaceful scene of a countryside market. The northern midland and mountainous region's temples and pagodas, as well as the distinctive cultural nuances of rural life, are vividly recreated through the 86-year-old artist's use of romantic realism. The artist claims that he paints in order to reminisce about simpler times, transporting viewers to a world where people cultivate rice, sail boats, run street stalls beneath banyan trees, youngsters herd buffaloes and women wear traditional headdresses and … [Read more...] about Vietnamese painter captures rustic beauty of northern countryside

Vietnamese consumers are more open to online insurance The State Bank of Vietnam’s recent interest rate hike to stabilise the VND and curb inflation has not dimmed the central bank's outlook for economic growth. Despite pandemic-related uncertainties, geopolitical instabilities, and rising inflation, the Vietnamese economy is expected to grow by 7 per cent in 2022, according to the IMF. Vietnam's insurance penetration rate remains between 2.3 per cent and 2.8 per cent, lower than in most emerging and developed markets. However, the insurance industry is embarking on a digital transformation journey that could transform the entire insurance value chain. Experts predict a compound annual growth rate of 23.7 per cent for the life insurance market between 2020 and 2025 and 8.5 per cent for the general insurance industry between 2021 and 2026 in terms of gross written premium. “With the goal of increasing Vietnam's digital economy’s contribution to 20 per cent of GDP by 2025, … [Read more...] about IXT released report on Vietnam’s insurance consumers

Vietnam Rubber Group (VRG) is completing its restructuring scheme for 2021-2025 to submit to the Committee for Management of State Capital at Enterprises. One of the highlights is that industrial real estate will be one of three core business sectors, and the company will foster divestment from the rubber sector to mobilise resources for the industrial real estate sector. Developers eager to cultivate funding in industrial real estate - illustration photo VRG general director Le Thanh Hung said that by 2025, the group’s revenue is expected to increase by 30 per cent, and profit will increase by 25 per cent. The group’s consolidated revenue is expected to climb to VND161 trillion ($7 billion), and consolidated pre-tax profit will be $1.49 billion. The after-tax profit of the parent company will be $536.9 million. “To achieve the above goals, the group will apply for a license to convert part of the rubber area to land for industrial production, contributing to improving … [Read more...] about Developers eager to cultivate funding in industrial real estate