Meeting on climate change

Vietnam gov’t plans 7% GDP growth in 2021 – 2025

April 14, 2020 by hanoitimes.vn

The target remains a challenging task, given growing uncertainties in the global and domestic economies, including the complicated evolution of the Covid-19 pandemic.

Vietnam is expected to set an average GDP growth target of 7% in the five-year socio-economic development plan for the 2021 – 2025 period, according to Prime Minister Nguyen Xuan Phuc.

Illustrative photo.

The target remains a challenging task, given growing uncertainties in the global and domestic economies, including the complicated progression of the Covid-19 pandemic, Phuc said in a directive dated April 13 instructing the formulation of the upcoming five-year socio-economic development plan.

The 2021 – 2025 socio-economic development plan must be based on a comprehensive review of Vietnam’s performance in realizing the previous five-year plan, as well as on prediction of Vietnam and international economic outlooks.

PM Phuc suggested the economy would face tremendous difficulties during the 2021 – 2025 period, mainly due to unresolved internal weaknesses of the economy.

Additionally, socio–environmental issues such as aging population, income gap, natural disaster, climate change, and saltwater intrusion are putting pressure on socio-economic development.

The PM stressed priorities for the next socio-economic development plan would include:

(1) Improving the institutions of the socialist-oriented market economy, with a view for rapid and sustainable economic development on basis of macro-economic stability and inflation under control.

(2) Continuing to push for economic restructuring associated with transforming the growth model towards higher productivity, competitiveness and economic resilience; promote a comprehensive digital transformation and the establishment of digital firms with international competitiveness; improve the business environment and help spur economic recovery in the post-pandemic period.

(3) Pushing for development of economic zones and supporting industries, with a view to meeting the need of the basic production inputs of the economy.

(4) Establishing synchronous infrastructure systems in transportation, seaports, energy, IT, urban and agriculture, among others, while continuing to realize the national housing development strategy and national program of modernized farming.

(5) Utilizing efficiently investment resources for economic development; developing new economic models with the application of digital technologies; enhancing efficiency in public debt management and utilization; accelerating construction progress for project of national priority.

(6) Enhancing quality and efficient use of human resources to take advantage of the Fourth Industrial Revolution and contribute to economic modernization and integration.

Earth Day 2021: Israeli Embassy presents Hanoi with drip irrigation system

April 18, 2021 by en.vietnamplus.vn

Solar-powered drip irrigation system – gift of Embassy of Israel in Vietnam (Photo: VNA)

Hanoi (VNA) – The Embassy of Israel in Vietnam launched a solar-powered drip irrigation system at Bac Co Park in downtown Hanoi as a gift to the capital city in an event on April 18.

Co-hosted by the Israeli Embassy, the Ho Chi Minh Communist Youth Union (HCYU)’s Central Committee and the Hoan Kiem District Peole’s Committee, the event aimed to mark the Earth Day 2021 (April 22).

Invented by Israel, the drip irrigation system helps increase crop yield and quality while using less water per unit of land and reduce environmental pollution.

Speaking at the event, Israeli Ambassador to Vietnam Nadav Eshcar said the present demonstrates Israel’s commitment to supporting Hanoi and Vietnam at large in environment protection and creation of a green and clean living space.

Like other activities Israel is doing globally to respond to the Earth Day 2021, this aims to remind each person of valuable resources on the earth and encourage Vietnamese young people to contribute more to building a clean and green environment for their own future.

Welcoming the act of the Israeli Embassy, Secretary of the HCYU Central Committee Ngo Van Cuong said the event helps raise awareness of environment protection and climate change response among local residents, particularly young people./.

VNA

Vietnamese businesses look to further optimize opportunities from CPTPP

April 18, 2021 by en.qdnd.vn

Among 14 free trade agreements (FTAs) Vietnam has signed, the CPTPP is a new generation FTA with high standards and the highest level of facilitation. Vietnam has been forecast to be one of the members that benefits the most from the deal.

However, the country has experienced challenges in optimizing the FTA because of its modest level of development and competitiveness.

Due to US-China trade tensions and the impact of COVID-19, the global economy fell into crisis last year with interrupted supply chains. Vietnam also suffered an economic downturn. Therefore, after two years of implementation, the benefits from the CPTPP are still to be seen.

Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), said that positive results in the two years of implementation include the reform of institutions and administrative procedures.

Explaining the modest benefits so far, Loc said major reasons include the poor competitiveness of Vietnamese enterprises, market instability, and the low capacity of State agencies.

Meanwhile, Nguyen Cam Trang, Vice Director of the Import-Export Department at the Ministry of Industry and Trade, said the CPTPP has helped promote Vietnam’s exports.

However, its market share and export growth to the six partners that have implemented the CPTPP have been low.

She noted that Vietnam’s market share is 3.1 percent in Japan, 1.9 percent in Australia, 1.6 percent in New Zealand, 1.3 percent in Mexico, 1.1 percent in Canada, and 1 percent in Singapore.

Growth in exports to CPTPP markets was 12.2 percent in 2018, 13 percent in 2019, and 12.02 percent in 2020, Trang added.

She said that, in the future, State agencies should enhance their capacity to implement the CPTPP while continuing to complete legal policies, strengthen communications regarding the deal, support macro-, small-, and medium-sized enterprises to improve their capacity, encourage investment in material production, and design measures to reduce logistics costs.

Businesses should also be more active in seeking opportunities from the deal, while changing their mindset and exploring demand in CPTPP markets to design suitable business strategies and plans, she added.

A survey by VCCI showed that about three-quarters of businesses said they will adjust their business plans to optimise the opportunities from the CPTPP and other FTAs.

Source: VNA

Four Thu Duc City bridges unable to bridge the gap

April 18, 2021 by e.vnexpress.net

Construction of Thu Thiem 2 Bridge spanning the Saigon River to link District 1 with the then District 2, which has now become a part of Thu Duc City, had started back in 2015. The bridge connects with Thu Thiem New Urban Area in Thu Duc City spans 1.4 kilometers long in total and comprises six lanes.

Construction of the Thu Thiem 2 Bridge spanning the Saigon River to link District 1 with District 2 (now part of Thu Duc City) started in 2015. The 1.4 kilometers long, six lane bridge would connect with the Thu Thiem New Urban Area.

Built with a cost of nearly VND3.1 trillion ($134.9 million), the project was originally scheduled to complete in 2018. As of last year, work on the project was 70 percent complete but construction on certain sections in District 1 continues to face delays since some of the required land belongs to the Ministry of National Defense.

Being built at a cost of nearly VND3.1 trillion ($134.9 million), the project was originally scheduled for completing in 2018. As of last year, work on the project was 70 percent complete but construction on certain sections in District 1 continues to face delays since some of the required land belongs to the Ministry of National Defense.

The cable-stayed bridge, with the main tower rising 113 meters high and leaning towards Thu Thiem and the artistic lighting design, has been expected to work as an architectural highlight on the Saigon River. Once completed, it will help connect the city’s heart of District 1 with Thu Thiem New Urban Area and ease traffic congestion at the intersections of Ton Duc Thang-Nguyen Huu Canh streets and Ton Duc Thang-Le Thanh Ton streets in District 1.Aside from the land clearance roadblock, the project has also faced issues in verifying both project volume and value with investor Dai Quang Minh Real Estate Investment JSC. For now, related agencies and departments are in the process of negotiating with the investor, as required by the Department of Transport earlier last month.

The cable-stayed bridge, with its main tower rising 113 meters and leaning towards Thu Thiem, is supposed to become an architectural highlight on the river with an artistic lighting design. Once complete, it will help connect the downtown HCMC with the Thu Thiem New Urban Area and ease traffic congestion at the intersections of Ton Duc Thang-Nguyen Huu Canh streets and Ton Duc Thang-Le Thanh Ton streets in District 1.

The bridge as seen from the side of Ton Duc Thang Street in District 1. It is expected that on April 15, work would resume on the bridge after the city authorities have worked with Dai Quang Minh and related parties to tackle all issues for the project so that it could be completed in 2023.

The bridge as seen from Ton Duc Thang Street in District 1. Work resumed on Thursday on the bridge after city authorities worked with Dai Quang Minh and others to tackle all issues so that the project can be completed in 2023.

In 2016, work started to build Nam Ly Bridge on Do Xuan Hop Street at the cost of VND857 billion to replace an old one that has been become degraded and way too small for the rising demand. Passing Rach Chiec Canal, the bridge is 450 meters long, 20 meters wide and was initially slated for completion in 2018 but by 2019, only 39 percent had been finished and the project has been put on hold ever since to wait for clear site.

In 2016, work began on the Nam Ly Bridge on Do Xuan Hop Street at the cost of VND857 billion. It was to replace an old one that had degraded and was too small to meet rising traffic demand. The 450m long, 20m wide bridge over the Rach Chiec Canal was to be completed in 2018, but in 2019, just 39 percent of the work had been done. The project has been put on hold since, awaiting site clearance.

Building materials turn rusty on the half-finished bridge.

Building materials rust on the half-finished bridge.

Wild grass grows all over barriers set around the foot of a bridge span that. Locals have even place several signboards to advertise their products and service on those barriers.

Wild plants grow around barriers set at the foot of a bridge span. Locals have begun using them to advertise various products and services.

Areas beneath the bridge have been turned into landfills.Tardiness in compensating affected households has led the problems in clearing site for the rest of the project. It is because the HCMC’s Department of Natural Resources and the city administration have yet to approve the compensation costs. For this issue, the authorities of Thu Duc City have proposed higher authorities to soon approve the compensation, promising that once that approval is made, Thu Duc will offer clean land plots for the project within six months.

Some areas beneath the unfinished bridge resemble landfills.

Six kilometers from Nam Ly, Tang Long Bridge on La Xuan Oai Street has been built since 2017 to span 680 meters across the Trau Trau Canal to replace an old, downgraded one nearby.

Six kilometers from Nam Ly, the Tang Long Bridge on La Xuan Oai Street is another one that has been languishing after work began in 2017. The 680 meters long bridge over the Trau Trau Canal is meant to replace an old, downgraded one nearby.

Costing VND450 billion, it is set to be completed in 2019 but by far, just more than 30 percent is done and the rest is being stuck at the step of clearing site.The issue of this project is related to adjustment in the geological border for the project that was made by the authorities of District 9 before the district was merged with districts 2 and Thu Duc to become Thu Duc City earlier this year. Now, the project’s management board said if Thu Duc City continues the job that District 9 has started and hands over the clear site soon, the bridge could be completed in 12 months.

The VND450 billion bridge was to be completed in 2019, but so far, only around 30 percent of the work has been done, site clearance proving to be the stumbling block, yet again.

Long Dai Bridge across the Tac River, a tributary of the Dong Nai River, was built in March 2017 at the cost of VND353 billion and for completion in two years. By now, its progress has reached just more than 50 percent as all the construction work has stopped since December, 2018.

Work on the Long Dai Bridge across the Tac River, a tributary of the Dong Nai River, began in March 2017. Built at a cost of VND353 billion, it was to be completed in two years. But two years after the original deadline, the bridge is far from completion with around 50 percent of the work remaining unfinished. Construction work on the bridge stopped in December, 2018.

The lateness in site clearance has been blamed for disagreement in compensation level. Thu Duc City came to life on Dec. 9 after the National Assembly greenlighted its establishment as a city within a city in HCMC. The new city was formed by merging three eastern districts - 2, 9 and Thu Duc. Spreading across 211 square kilometers, it houses more than a million people and is expected to contribute 30 percent of the city’s economic growth and 7 percent for the nations per year. Thu Duc is also expected to function as an innovative urban area encompassing the hi-tech park in District 9, the university precinct in Thu Duc District, and the new urban area and financial center on Thu Thiem Peninsula in District 2, helping fulfill HCMC’s plans to become a smart city.

The delay in site clearance has been blamed on disagreements over the compensation.

Leader asks for better performance by Theoretical Council

April 17, 2021 by en.vietnamplus.vn

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./.

VNA

Vicostone eyes 20 per cent revenue growth in 2021

April 18, 2021 by bizhub.vn

Vicostone’s Annual General Shareholders’ Meeting 2021 took place in Ha Noi late last week. — Photo courtesy of the company

Vicostone Joint Stock Company, member of Phenikaa Group, is targeting 20.1 per cent and 15.1 per cent in net revenue and pre-tax profit respectively to nearly VND6.8 trillion (US$292 million) and VND1.9 trillion ($83 million) in 2021.

These figures were announced at the company’s Annual General Shareholders’ Meeting 2021 held in the capital late last week. The shareholders attending the meeting hold more than 143 million shares, representing 89.64 per cent of the total voting shares.

The company will focus on enhancing research and development activities to create new products, improving market competitiveness based on the advantage in science and technology while expanding production and better control expenses.

Top priority will also be given to connecting other members in the Phenikaa Ecosystem for added values and benefit and broadening the culture and values as well as balancing the interests among all stakeholders.

Vicostone earned VND5.66 trillion worth of total net revenue and VND1.67 trillion worth of pre-tax profit tax in 2020.

Last year, it sought further penetration in new markets in addition to existing ones such as North America, Europe and Asia. The exploration of new markets helped strengthen the presence of Vicostone in more than 50 markets across the world.

In 2020, Vicostone became the third largest engineered countertop supplier to the global market, according to the US research firm Freedonia, and that was a strong confirmation and recognition of VICOSTONE® in both domestic and international markets.

Thanks to the postive business performance, Vicostone planned to distribute a 40 per cent dividend for 2020, including cash and bonus shares, to fulfill its commitment to the shareholders. — VNS