Monthly income scheme

SHANGHAI/PARIS -- From $300 bucket hats to $900 sneakers and $700 t-shirts, the high-flying luxury sector is fretting over the appetite among financially stretched Gen Z consumers for such "aspirational" purchases. Executives are troubled in particular by a hit to young Chinese shoppers, not only because mainland China has been a major driver of the industry's growth in recent years, but also because high end consumers in the world's second-largest economy are a decade younger than the global average of 38. Young adults around the world have been "a very strong factor of luxury growth over the past decade," said Gregory Boutte, chief client and digital officer at Gucci-owner Kering. Data this week showed China's economy slowed unexpectedly, prompting a central bank rate cut, while macroeconomic trends are disproportionately impacting the extra funds that those born between 1996 and 2012 might use to enter the world of luxury. Whereas in North America and Europe, inflation and … [Read more...] about Luxury sneakers may be a step too far for cash-strapped Gen Z

Hanoi will play a key role in connecting visitors to tourist destinations in Vietnam. The Vietnamese Ministry of Culture, Sports and Tourism needs to actively support major tourism businesses to build routes linking localities, and restart heritage digitalization with the participation of travel companies to create new tourism products. Deputy Prime Minister Vu Duc Dam speaks at the meeting. Photo: VGP This is one of the requirements made by Deputy Prime Minister Vu Duc Dam on August 17 at the meeting on removing difficulties and promoting tourism recovery so that the industry would become a key economic sector. The Deputy Prime Minister requested the Ministry of Industry and Commerce to urgently submit to the Prime Minister the adjustment of electricity prices so that accommodation establishments would be entitled to energy rates equal to those of manufacturing facilities. The Ministry of Culture, Sports and Tourism, associations, and tourism businesses … [Read more...] about Vietnam deploys diverse solutions to revive tourism industry

Denmark, through strategic sector cooperation (SSC) with Vietnam, helps implement national action plan in agriculture while promoting the engagement of stakeholders in the value chain. Among issues shared at an event held in Hanoi on August 17, Vietnamese officials, experts, and businesses were impressed with the philosophy of “producing more from less” in Denmark’s agri-food sector. Denmark targets the climate-neutral food industry by 2050. Photo: Danish Agriculture and Food Council Troels Jakobsen, Trade Counsellor of the Embassy of Denmark, said Denmark produces three times more food than the Danish population can consume, with some of the lowest greenhouse gas emissions in Europe. The idea was shared at Seminar – Business Matchmaking held in Hanoi on August 17 to discuss Danish experiences and solutions in sustainable agri-food production. Meanwhile, Jeppe Søndergaard Pedersen, International Chief Advisor, the Danish Agriculture and Food Council, … [Read more...] about “Produce more from less”: Danish agricultural philosophy for Vietnam

The credit quality of real estate firms is at a good level with financial leverage below 1.5x. During the first seven months of 2022, over VND420 trillion (US$18 billion) was pumped into the real estate market. The figure could be raised to VND800 trillion ($34 billion) by the end of the year in case of favorable conditions. Investors looking at a real estate project in Me Linh District, Hanoi. Photo: Pham Hung Economist Can Van Luc, a member of the National Financial and Monetary Advisory Council, shared the view at a real estate forum held on August 17, noting the figure is huge compared to total investment capital for the economy. According to Luc, while transaction activities have been subdued in recent months, this would pose a golden opportunity to restructure the market for more sustainable growth. “In the past, real estate was widely seen as the first option when people explore fields to invest in, and that is a huge risk to the economy,” Luc said. … [Read more...] about Over US$34 billion set to pour into Vietnam’s real estate market this year

The financial shortage might challenge the implementation of Vietnam’s gender equality commitments and Sustainable Development Goals by 2030. It is extremely urgent to secure and mobilize domestic financial resources for gender equality in Vietnam in the context that a great number of donors have cut down on financial support once the country is in middle-income status. Elisa Fernandez Saenz, United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) Country Representative in Vietnam raised concerns at a conference held in Hanoi on August 17. Elisa Fernandez Saenz, United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) Country Representative in Vietnam, speaks at the conference held in Hanoi on August 17. Photos: UN Women The idea was shared at the event where the United Nations agencies, international organizations, local authorities, businesses, and civil society organizations (CSOs) called for initiatives … [Read more...] about Vietnam needs financial resources to advance gender equality

Universities provide various attractive scholarship policies for students The Development Fund of the Vietnam National University - Ho Chi Minh City has coordinated with sponsors to award 43 scholarships worth VND 1.7 billion to extremely difficult students in its member schools and faculties of the Vietnam National University - HCMC. 41 full scholarships each worth VND50 million will be given to first-year students, VND 30 million for a second-year student, VND 20 million for a third-year student, and VND 10 million for a final-year student in addition to two incentive scholarships each worth VND5 million. Scholarship recipients ought to meet the requirements that they are studying at member schools, branches and affiliated faculties, and those who are disabled, orphans, homeless, and those from families living on an income marginally the poverty line and near-poverty line with relatively good academic performance in the school year 2020-2021. According to Associate Professor … [Read more...] about Universities provide various attractive scholarship policies for students