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Private sector nursing jobs

Private investments reach new peak

March 4, 2021 by en.vietnamplus.vn

Private investments reach new peak hinh anh 1 Private investment s in Vietnam have reached a new peak in contrast to the trend towards decline around the world and in the ASEAN region . (Photo: baoquocte.vn)

Hanoi (VNA) – Private investments in Vietnam have reached a new peak in contrast to the trend towards decline around the world and in the ASEAN region due to the impact of COVID-19 .

Thanks to its success in containing the pandemic, Vietnam has emerged as a bright spot, with economic growth reaching 2.91 percent in 2020 – a positive rate given the gloomy global picture.

The International Monetary Fund (IMF) forecast that its GDP will grow 6.7 percent this year. Goldman Sachs and HSBC are even more optimistic about the economy, which, they said, will expand 8.1 percent in 2021.

Vietnam’s middle and upper class is expected to grow substantially, from 25 percent of the national population in 2017 to 45 percent in 2030.

Moreover, free trade agreements to which Vietnam is a signatory have benefited the country regarding tariffs and exports, especially smartphones and electronic products, garments and textiles, footwear, and agricultural products.

Adjustments to the Law on Enterprises and the Law on Investment have also played a part in the country’s positive outlook.

In private investment, a total of 59 transactions worth 1.14 billion USD were conducted in 2020, with technology retaining its leading role over the last five years.

Local retail and service firms associated with technological solutions have caught the eye of investors, with notable investments including 100 million USD by Warburg Pincus in Momo e-wallet and the Northstar Group’s 130 million USD in Tiki – one of the three leading e-commerce platforms in the country.

Conglomerate Vingroup posted a record in this regard after GIC injected 500 million USD into Vincommerce in 2019 and KKR funnelled 650 million USD in Temasek and Vinhomes in 2020.

Investments in healthcare have also increased rapidly, as Mekong Capital and VinaCapital have poured 31.8 million USD into Pharmacity and 26.7 million USD into Thu Cuc Hospital, respectively.

Sectors such as transportation, education, healthcare, and technology are expected to become magnets for investors this year./.

VNA

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ADB provides US$176 million for Vietnam’s socio-economic development

March 4, 2021 by en.qdnd.vn

PANO – The Asian Development Bank (ADB) and the Vietnamese Government on January 17 th signed four loan agreements valued at $176 million to help the Vietnamese Government on capacity building to strengthen public-private partnerships (PPP) and infrastructure investments, enhance competitiveness of towns along Greater Mekong Subregion (GMS) economic corridors, improve food safety, as well as develop national capacity to mitigate HIV risks.

With the first loan agreement, ADB provides US$20 million from its Asian Development Fund (ADF) to fund the Public Private Partnership Support Project. The project will use the fund to establish a Project Development Facility (PDF) to help bring efficient PPP projects to the market. Ministries and government agencies will use the PDF to fund PPP project preparation activities, including pre-feasibility studies, full feasibility studies and the engaging of transaction advisors to structure deals to bring to the private sector for bidding.

The signing ceremony. Photo: baohaiquan.vn

The second loan of US$130 million will help transform the GMS corridor towns of Dong Ha, Lao Bao and Moc Bai into economic hubs by improving urban-environmental infrastructure and strengthening institutional capacities of provincial and local authorities. The GMS Corridor Towns Development Project will finance 10 sub-projects in the three towns.

To help Vietnam improve food safety, ADB provides $11 million in ADF loans to finance the Trade Facilitation, “Improved Sanitary and Phytosanitary Handling in GMS Trade Project”. The project will support the country to establish, strengthen and implement surveillance and inspection programs for food safety, including safe food handling in the tourism industry, and regional cooperation and harmonization of sanitary and phytosantary management in food trade in the GMS.

The final loan of US$ 15 million from ADF is to finance GMS Capacity Building for HIV/AIDS Prevention Project to address current gaps in effectively reaching high-risk and vulnerable populations in border areas along shared economic corridors with other GMS countries. The project helps the Government develop its national and regional capacity to mitigate HIV risks and vulnerability, primarily in 15 border provinces in Vietnam.

Addressing the ceremony, Tomoyuki Kimura, the ADB Country Director for Vietnam said that the provision of adequate physical infrastructure is a necessary condition to ensure the country’s economic growth and people’s access to services and opportunities. The challenge then is how to mobilize the financing needed to develop infrastructure, and clearly this will largely rely on encouraging more private sector investment, such as well placed public financing coupled with support to overcome policy, institutional, information and risk barriers to investment.”

Chung Anh

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The start of an innovation era

January 18, 2021 by en.nhandan.org.vn

The centre is designed to gather innovative domestic and international businesses and groups while providing laboratories, offices and workplaces for experts and scientists in order to help them develop and realise their technological initiatives in line with international standards.

It will also support and develops the nation’s start-ups and innovation ecosystems, contributing to growth models based on science and technology.

Previously, the Ministry of Planning and Investment launched a programme called Connecting Vietnam’s Innovation Network, which gathered hundreds of talented Vietnamese experts and scientists in the fields of science and technology from around the world.

To date, the network has attracted the participation of more than 1,000 overseas Vietnamese scientists and has established five offices in the US, Germany, Japan and Australia.

At the end of 2020, the Ministry of Planning and Investment launched a programme to support enterprises’ digital transformation in the 2021-2025 period.

The programme aims to support a minimum of 100 businesses to become exemplary digital transformation models and facilitate the establishment of a network of experts that includes at least 100 organisations and individuals offering solutions to promote digital transformation for businesses as well as supporting the development of digital platforms.

Starting from a backward economy, Vietnam rose into a lower middle-income country in 2009. However, the country’s technology, machinery, equipment, and production lines have not been improved and not many new economic models have been effectively applied and implemented, an issue which has resulted from limitations in technical infrastructure, insufficient awareness among localities and sectors about the role of science, technology and innovation, and inadequate allocation of investment resources.

Meanwhile, science – technology, innovation, research and development activities are still mainly undertaken by the state sector and receive less attention and investment from private organisations and enterprises.

Vietnam’s spending on science and technology development, in both the State and private sectors, continues to be very modest, accounting for just 0.44% of gross domestic product (GDP), much lower than the world average of 2.23%.

These weaknesses can be addressed once Vietnam is fully determined to seize the opportunities brought by the fourth Industrial Revolution.

The country’s determination was underlined in the Prime Minister’s Decision No.1269/QD-TTg on the launch of the National Innovation Centre. The document was promulgated to realise Politburo Resolution 52-NQ/TW which outlines policies guiding Vietnam’s active involvement in the revolution.

Several studies and reports on the impact of the COVID-19 pandemic on the Vietnamese economy have shown that the contribution of labour and capital to GDP growth will decline sharply in the next five years, thus, innovation and total factor productivity (TFP) will play a crucial role in maintaining economic growth. Therefore, innovation and the application of science and technology have now become a strategic breakthrough point for Vietnam to catch up with the rapid development of the world.

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Sri Lanka’s vaccination program bolsters economic sentiments: central bank

March 4, 2021 by en.nhandan.org.vn

“Positive sentiments fuelled by the COVID-19 vaccination drive in the country and the impact of growth-promoting policies are expected to support the economic revival over the short to medium term,” the CBSL said in a statement.

Meanwhile, the CBSL said that the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) would remain at 4.5 percent and 5.5 percent respectively, following a review by the Monetary Board.

“The Board noted the recent slowdown in credit disbursements to the private sector and inadequate lending to productive sectors of the economy, and stressed the need for the financial system to actively lend to productive sectors in order to support the ongoing recovery of domestic production-based economic activity,” a statement by the CBSL said.

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How APAC countries can be one step ahead of cybercriminals: forum

March 5, 2021 by vietnamnews.vn

Deputy Minister of Information and Communications Nguyễn Huy Dũng explained how Việt Nam has taken pro-active steps to secure its cyberspace at the APAC Online Policy Forum II. — Photo courtesy of the company

HCM CITY — Cybersecurity and policy experts discussed strategies to beef up cyberdefences in the Asia Pacific during the pandemic and beyond at an online forum this week.

The APAC Online Policy Forum II, organised by global cybersecurity company Kaspersky, underlined how policies and strategies are formed in APAC, how they remain relevant and effective amidst the continued shift in the region’s threat landscape and how governments can be one step ahead of cybercriminals.

Eugene Kaspersky, the company’s CEO, deep dived on the latest cybersecurity threat landscape and trends amplified by the pandemic, particularly the shift in cybercriminals’ targets from smartphones and personal devices to industrial control systems and the internet of things.

“Since the beginning of social confinement, we have been observing how the global cybersecurity landscape is being impacted by the pandemic. On one hand, people are at greater risk of cyber intrusions due to their working remotely and spending more time online. On the other, there are more cybercriminals, and they are getting more skilled and experienced.

“In 2020 we saw the detection of unique malicious files rise by 20-25 per cent a day. And today our researchers are also closely monitoring more than 200 cybercrime gangs responsible for launching hyper-targeted attacks against banks, governments and nations’ critical infrastructure.”

Deputy Minister of Information and Communications Nguyễn Huy Dũng explained how Việt Nam has taken pro-active steps to secure its cyberspace, including by passing a cybersecurity law and creating standards and a blueprint across government and the private sector.

“No one can cope with cyberthreats alone. No one can be safe alone.”

He described the four-layer of protection model in Việt Nam with an in-house team, 24/7 cybersecurity services by a professional provider, an independent security audit, and independent monitoring by the National Cybersecurity Centre (NCSC).

Another successful project  was the ‘Review and remove malware nationwide in 2020’ campaign by the NCSC, which caused the number of botnet IPs to fall by nearly half after scanning over 1.2 million computers and detecting more than 400,000 infected with malware. Kaspersky was among the private partners in this initiative carried out from September to December 2020.

Education and cybersecurity

Dr Greg Austin, a professor of cybersecurity, strategy and diplomacy at the University of New South Wales in Australia, underlined the connection between cybersecurity capacity building and investment in education.

“Globally we are not making enough cybersecurity professionals.

“Most countries are not prepared to make investments in education for the cybersecurity ambitions they talk about. Digital transformation and defence capacity building must include educational transformation.”

Australia plans to invest US$26 million in education to achieve its vision of creating a more secure online world for its citizens, businesses and the essential services, according to the professor.

Graduates from colleges and universities should be exposed to real-life simulations, exercises and red teaming to increase their cybersecurity skills and knowledge, he said.

Azleyna Ariffin, Principal Assistant Director, National Cyber Security Agency (NACSA) of Malaysia, concurred with the need for experts as part of a nation’s strategy, said “We also need to focus on developing skills and knowledge in cybersecurity so that it will be a more effective co-operation if we share the same level of skills and understanding with regard to threats and cybersecurity.”

There is also a need to increase awareness among the public of the dangers lurking online, according to Ariffin.

Nur Achmadi Salmawan, director of the National Critical Information Infrastructure, National Cyber and Crypto Agency (BSSN)  of Indonesia, said his agency launched last December a draft national cybersecurity strategy aimed at combating technical threats and even social threats.

“Social media has become a weapon for organisations and individuals to manipulate information for their own interest. It is important to inform people how to use the internet correctly and safely.”

All speakers agreed that regional collaboration, high-level private and public co-operation and sharing of knowledge are essential ingredients in building a country’s cybersecurity. — VNS

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Hanoi ready to restart socio-economic activities with Covid-19 under control: Mayor

March 4, 2021 by hanoitimes.vn

The Hanoitimes – Hanoi’s mayor called for local governments to provide support for businesses affected by the pandemic, and review current existing supporting programs to ensure greater efficiency.

Hanoi is ready to restart and accelerate socio-economic activities as the Covid-19 situation in the city has been put under control.

Chairman of the Hanoi People’s Committee Chu Ngoc Anh speaks at the meeting.

“The priority in March is to strictly comply with anti-Covid-19 measures and boost socio-economic development,” Ngoc Anh said.Chairman of the Hanoi People’s Committee Chu Ngoc Anh gave the remarks at the city’s monthly meeting on March 4.

Among measures to boost the local economy, the Hanoi’s mayor requested greater efficiency in global integration to boost exports, while adopting a more selective approach in attracting high quality foreign direct investment (FDI).

“Hanoi aims to create a favorable business environment to further attract investment capital, along with more support to spur the growth of the private sector and pubic investment,” he noted.

A corner of Hanoi. Photos: kinhtedothi

As public investment continues to be a key solution to aid economic recovery this year, Ngoc Anh urged local authorities to closely monitor the progress of public projects and those financed by ODA funds.

Ngoc Anh called for local governments to provide support for businesses affected by the pandemic, and review current existing supporting programs to ensure greater efficiency.

Hanoi’s economic performance in the first two months stayed positive with the Index of Industrial Production (IIP) expanding by 7.5% year-on-year, higher than the 5.8% rate recorded in the same period last year.

The city’s trade turnover also witnessed strong recovery as exports in the two-month period reached US$2.3 billion, up 12.7% year-on-year, staying in stark contrast with a contraction of 19% in first two months of last year.

Foreign direct investment (FDI) commitments to Hanoi in the year to February 23 hit US$58.9 million. The investors registered to pour US$14 million into 28 fresh projects, and an additional US$4.1 million into nine existing projects. They have also injected US$40.8 million to acquire stakes or contribute capital in local companies.

This year, Hanoi targets an economic growth of 7.5-8%, a strong rebound from the 3.98% in 2020.

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