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Share of female management in FDI highest among Vietnam economic sectors

March 6, 2021 by hanoitimes.vn

The Hanoitimes – The number of Vietnamese women accounts for half of the labor force but less than one-fourth of overall management roles.

The percentage of women in management in the foreign-direct investment (FDI) sector is a third of the number of people in leadership positions, the highest (34.1%) compared to the 29.7% and the 20.2% in state and domestic spheres, respectively, according to the latest report.

Vietnam’s women account for half of the labor force but less than one-fourth of overall management roles. Photo: ILO

A report “Gender and the labor market in Vietnam” by the International Labor Organization (ILO) in Vietnam shows that there is still a gender gap in labor force participation in the country, especially in management level. Uneven distribution of family responsibilities in Vietnam’s society could be the reason behind.

The elimination of gender gaps in education has not translated into a comparable narrowing of gender gaps in employment quality, earnings, or decision-making jobs. “They are much more likely to involve in household work than men, and spend twice as many hours on it,” said Valentina Barcucci, ILO Vietnam Labor Economist, lead author of the research.

Women spent an average of 20.2 hours per week cleaning the house, washing clothes, cooking and shopping for the family, doing family care and childcare, whereas men spent only 10.7 hours. Close to one fifth of men did not spend any time on these activities at all.

Chart: The portfolio of female management in total employment, by sector, 2019

As a result of the pandemic, total working hours dropped significantly in the second quarter of 2020, and recovered through the second half of the year. Women faced the most severe losses, according to the report.

The total weekly hours worked by women in the second quarter of 2020 were only 88.8% of the total for the fourth quarter of 2019, compared to 91.2% for men.

“Before the Covid-19 pandemic, both women and men had a relatively easy access to jobs, but the quality of such jobs was on average lower among women than among men,” said Valentina Barcucci, ILO Vietnam Labor Economist, lead author of the research.

Female workers were overrepresented in vulnerable employment, particularly in contributing family work. They earned less than men (by 13.7% on monthly wages in 2019), despite comparable working hours and the progressive elimination of gender gaps in educational attainment.

Gender inequality in the labor market is traced back to the traditional roles that women are expected to play, supported by the social norms, said ILO Vietnam Director, Chang-Hee Lee.

The 2019 Labor Code has opened opportunities to close such gender gaps, for example in retirement age or removing the ban on female employment in certain occupations, a much more difficult task still awaits Vietnam.

“That is changing the mind sets of the Vietnamese men and women themselves which will in turn influence their behavior in the labor market,” Chang-Hee Lee said.

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New regulation on minimum trading lot at HOSE aims to keep small investors away

March 6, 2021 by vietnamnet.vn

Around $200 billion is now in tumult after a succession of days of network congestion and the news about the required increase in minimum trading lot from 100 to 1,000 shares on the HCM City stock market.

New regulation on minimum trading lot at HOSE aims to keep small investors away

Nguyen Giang, owner of The Way Coffee, completed the procedure to open an account at SSI Hanoi Branch after hearing that the HCM CIty Stock Exchange (HOSE) was planning to increase the required minimum trading lot from 100 shares to 1,000 shares.

The reason behind the plan, as explained by Le Hai Tra, HOSE’s CEO, was to ease the overload.

However, this was not good news for many investors, including Giang. Because of Covid-19, he no longer can work as an outbound tour guide, which he did for 10 years.

In 2020, he opened a street coffee shop. However, the third Covid-19 outbreak once again affected his business. Giang then decided to make financial investments as he has confidence in the bright prospects of the stock market.

However, the calculations of the investor may fail because of HOSE’s tentative policy.

If the tentative policy takes effect, Giang will have to spend VND100 million at least for every purchase transaction of VIC (Vingroup), VJC (Vietjet), VCB (Vietcombank) and VNM (Vinamilk).

If buying SAB (Sabeco), he would have to spend VND180 million at least, and ifor VCF (Vinacafe Bien Hoa), he would have to spend VND240 million.

These are very large amounts of money compared with Giang’s investment plan.

However, Tra said the policy, once applied, would bring benefits. It would not only help ease congestion thanks to the reduction of 40-50 percent in number of transactions, but would also better protect small investors.

Nguyen Duy Hung, president of SSI, also commented that this is the best choice for now to maintain the system’s operation.

However, many experts and securities companies don’t share the same view. They have warned that the policy isn’t in line with stock market development and discriminates against small and big investors.

“The plan is unreasonable. It will affect many private investors and be contrary to international practice,” the brokerage director of a HCM City-based securities company said.

The decision to raise the required minimum trading lot from 10 shares to 100 shares in the past once put difficulties for many investors as they could not sell shares. However, the decision was still acceptable because every transaction had value of between several millions of dong to tens of millions of dong only.

But this will be diiferent if the minimum trading lot is raised to 1,000 shares.

V. Ha

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Phan Thiet airport to start construction in March

March 6, 2021 by e.vnexpress.net

The information was announced by Senior Lieutenant-General Tran Don, Deputy Minister of National Defense at a meeting with the south-central province’s authorities Friday.

In 2009, the government approved a plan to build Phan Thiet airport in beach town Phan Thiet of Binh Thuan, which lies more than four hours east of Ho Chi Minh City and currently has none.

The plan said the airport would span 543 hectares (1,340 acres) to serve both civilian and military purposes and invested under the build-operate-transfer format by Hanoi-based Rang Dong JSC.

It also said work would start in 2015 for the project to be finished in 2018. However, nothing had been carried out as scheduled.

In 2017, Binh Thuan proposed to upgrade the civil rating of the planned airport from 4C to 4E as regulated by International Civil Aviation Organization.

In specific, the province wanted to extend the airport’s runway from 2,400 meters to 3,050 meters in order to raise its capabilities toward the 4E rating. The increased rating would allow it to handle Airbus A320s or equivalent sized and advanced military aircraft.

The government agreed with the proposal within that year, which means the cost for the airport will stay at around VND10 trillion ($434 million).

The problem with investment capital had prevented the plan to be executed. Now, the problem has been solved, said Deputy Minister Don.

He said the Ministry of National Defense had previously relied on a plan to auction former Nha Trang airport in central Khanh Hoa Province to raise funds for building Phan Thiet airport.

However, the government has recently agreed to build Phan Thiet airport using the state budget in the form of public investment. “The government has allocated the fund for the ministry and work on the joint-use airport should be carried out soon.”

If everything is to happen as planned, construction should be finished in 20 months so the airport could start operation next year, Don noted.

Rang Dong JSC will continue to work as investor for the civilian part of the airport. As assigned by the ministry, the company has to soon complete adjustments to the re-feasibility study report for the project so work on the civilian side could be carried out at the same time as that for its military equivalent.

Vietnam currently has 22 airports, including eight in the northern and north-central regions.

The master plan for airport development the Ministry of Transport is drafting envisages building five new airports, all in the north, by 2030.

It is now in the process of collecting feedback from other government agencies and local administrations before submitting the plan to the government for approval.

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Vietnam ready for its first vaccination program on March 8

March 6, 2021 by hanoitimes.vn

The Hanoitimes – The MoH is working with the COVAX to arrange for another shipment of 1.3 million doses to arrive at Vietnam in March.

The Ministry of Health (MoH) would mobilize all resources to carry out Vietnam’s largest vaccination program yet with an estimated of 100 million doses.

Local volunteer vaccinated with domestic Covid-19 vaccine named Nanocovax in Hanoi. Photo: Ngoc Tu

Minister of Health Nguyen Thanh Long made the statement at an online conference discussing plan for the nationwide Covid-19 vaccination program held today [March 6].

“With the country’s first Covid-19 vaccine doses set to be administered on March 8 in the northern province of Hai Duong, Hanoi and Ho Chi Minh City, there would no doubt be side effects, but this is not the reason for Vietnam to stop the vaccination program,” stated Long.

According to Long, Covid-19 vaccines are developed and manufactured in the shortest time in the history of vaccine development, so the effective period of vaccines varies from six months to two years.

“In addition to importing vaccines, Vietnam would accelerate the R&D processes for domestic Covid-19 vaccines to ensure long-term public health security,” Long added.

The minister suggested any post-vaccination side effects is possible, as not any vaccine can be 100% safe.

“As the vaccine is new, so the vaccination program will be carried out in a cautious manner,” added Long, saying local health authorities have evaluated the safety of vaccines in Vietnam.

With the limited amount of vaccine doses, Long said the MoH would prioritize vaccination for 13 cities and provinces of high risk.

“The MoH is working with the COVAX to arrange for another shipment of 1.3 million doses to arrive at Vietnam in March,” he informed.

Vaccine passport

Under the government resolution NO.21 on the 11 priority groups, Long said the first doses of Covid-19 vaccines would be allocated for health workers at 21 health facilities with the highest level of risks, followed by front-line workers of the Covid-19 fight in Hai Duong, Hanoi and Ho Chi Minh City.

One of a key point in Vietnam’s vaccination program is that health officials would carry out health check-up for locals before vaccination to ensure safety.

Every people getting vaccinated will be added into a database for supervision.

“Vietnam’s vaccination system would later be integrated with other countries, which would serve as a basis for vaccine passport, and is managed via QR code,” Long noted.

Last month, Vietnam received more than 204,000 doses of Covid-19 vaccine from AstraZeneca as part the WHO-led COVAX Facility vaccine-sharing scheme.

Vietnam has been negotiating with AstraZeneca to import 30 million doses for 2021 and another 33 million doses from COVAX.

According to Centers for Disease Control and Prevention, there are possible side effects after getting a Covid-19 vaccine including: pain, redness, swelling, tiredness, headache, muscle pain, chills, fever and nausea.

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King Ly Thai To makes a milestone in the city’s history

March 6, 2021 by hanoitimes.vn

The Hanoitimes – With the relocation of the capital and a comprehensive reform, Ly Cong Uan (King Ly Thai To) and his descendants succeeded in building a strong nation.

Peaceful ascension to the throne

The kings of the Early Le Dynasty, founded in 980, embarked on effective reforms to stabilize the political and economic situation. However, the decease of king Le Dai Hanh in 1005 led to infighting within the royal family for succeeding him.

In the end, Le Dai Hanh’s fifth son, Le Long Dinh, defeated other princes to claim the crown. However, the brutal struggle that he fought for the throne caused resentment among the people.

The statute of Ly Cong Uan in Hanoi. Photo: Jenna Duong.

In 1009 when Le Long Dinh died at the age of 24 and his children were very small, Ly Cong Uan, a talented dignitary was supported by other court officials to ascend to the throne, peacefully seizing power from the Le. It is known as the most peaceful change of dynasty in the country’s history.

From moving the capital to reforming the country

Ly Cong Uan was crowned in the context of a serious political and socio-economic crisis and the threat of invasion from the Chinese Song dynasty. He was determined to end the political crisis that lasted through several reigns and bring stability to his kingdom.

His  first decision as king was to move the capital from Hoa Lu (Ninh Binh) to Dai La (Hanoi now). Hoa Lu was chosen by King Dinh Tien Hoang (924-979) as seat of his court to suit the needs of defending the nation in the early days after the civil wars.

It was more appropriate for defense purposes as it is located in a low land surrounded by limestone mountains. However, it was difficult to develop an urban city here as traffic was inconvenient and its location is too distant from the thriving economic centers in the Red River Delta.

In autumn of 1010, King Ly Thai To decided to move the capital of the kingdom to Dai La, mindful that the place had an ideal location as well as many advantages for wet rice farming and traffic thanks to a number of waterways, especially the Red River, promising a long-term prosperous development of a capital and a nation.

The Ly Thai To Flower Garden in Dinh Tien Hoang street, Hoan Kiem dist., Hanoi. Photo: Ngoc Tu.

After moving the capital and renaming it Thang Long, Ly Cong Uan ordered to build citadel to protect the city. Since then, Thang Long has become the political, economic and cultural center of the country.

King Ly Thai To also implemented a series of comprehensive reforms. In political terms, Ly Thai To built the regime with the combination of law and virtue. The power of military chiefs was gradually reduced and replaced by the civil mandarins. The power of the lineage in the Ly royal family was also strengthened.

In terms of administration, Ly Thai To divided the country into the districts, wards and smaller levels in towns, creating a comprehensive management of the country.

Economically, Ly Thai To and subsequent Ly kings paid attention to fostering industry and trade, especially in Thang Long with the construction of ports and markets. The king’s efforts were paid off with a thriving economy, creating abundant and strong resources for the country.

In terms of culture, since the reign of Ly Thai To, Thang Long became the largest cultural, artistic and religious center of the country.

The advent of Ly Cong Uan and the Ly Dynasty solved the crisis emanated from the previous dynasties when the state apparatus was not complete. The vision of moving the capital and the reform of Ly Cong Uan opened up a new era for the country and so far, many of lessons drawn from his reforms are valid today.

Filed Under: Uncategorized Travel to Hanoi, King Ly Thai To, Ly Cong Uan moved from Dai La to Thang Long, Thang Long- Hanoi, King Ly Cong Uan moved capital, king seiko history, history of kings cake, the history of king cake, history of king james bible, history of king cakes, history of king cake, history of king arthur, how to make thai food, jericho city history, lemongrass thai city, museum of new york city history, oregon city history

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