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Vietnam, proactive and responsible member of ASEM

March 1, 2021 by vietnamnet.vn

Leaders of 26 Asian and European countries, including Vietnam, founded the Asia-Europe Meeting (ASEM) on March 1, 1996 in Bangkok.

Over the past 25 years, Vietnam has proved to be a proactive, dynamic, and responsible member, contributing to the organisation’s development.

Vietnam, proactive and responsible member of ASEM
Vietnam successfully organises the fifth Asia – Europe Meeting in Hanoi, October 8 to 9, 2004. (Photo: VNA)
Vietnam, proactive and responsible member of ASEM
A meeting to discuss cooperation in response to financial crisis takes place in the framework of the ninth ASEM Foreign Ministers’ Meeting, Hanoi, May 25, 2009. (Photo: VNA)
Vietnam, proactive and responsible member of ASEM
180 delegates and speakers from ASEM member states and international organization take part in the ASEM Green Growth Forum, themed ‘Working together towards green economies,’ Hanoi, October 3, 2011. (Photo: VNA)
Vietnam, proactive and responsible member of ASEM
The Second Plenary Meeting of the Fourth ASEM Labour and Employment Ministers’ Conference, Hanoi, October 25, 2012. (Photo: VNA)
Vietnam, proactive and responsible member of ASEM
Prime Minister Nguyen Xuan Phuc meets Japanese Prime Minister Abe Shinzo in the framework of the 11th ASEM Summit, Ulan Bator, Mongolia, July 15, 2016. (Photo: VNA)

Vietnam, proactive and responsible member of ASEM
Prime Minister Nguyen Xuan Phuc meets German Chancellor Angela Merkel on the sidelines of the 11th ASEM Summit, Ulan Bator, Mongolia, July 15, 2016. (Photo: VNA)
Vietnam, proactive and responsible member of ASEM
The Foreign Ministry in collaboration with the Asia-Europe Foundation (ASEF) organise a seminar on ‘Building a vision for comprehensive Asia-Europe partnership for the 21st century’, Da Nang, November 30, 2017. (Photo: VNA)
Vietnam, proactive and responsible member of ASEM
Prime Minister Nguyen Xuan Phuc meets with European Union High Commissioner for Foreign Affairs and Security Policy Federica Mogherini during the opening ceremony of the 12th ASEM Summit, Brussels (Belgium), October 18, 2018. (Photo: VNA)

VNP/VNA

Filed Under: politics Vietnam, ASEM, politics news, vietnamnet bridge, english news, Vietnam news, vietnamnet news, Vietnam latest news, Vietnam breaking news, Vietnamese newspaper, ..., board members responsibilities, nonprofit board member responsibilities

VIETNAM NEWS HEADLINES MARCH 1

March 1, 2021 by vietnamnet.vn

Vietnam logs no new COVID-19 infections on March 1 morning

VIETNAM NEWS HEADLINES MARCH 1

Vietnam documented zero COVID-19 infections in the past 12 hours as of 6:00 am on March 1, leaving the national tally unchanged at 2,448 patients, according to the National Steering Committee for COVID-19 Prevention and Control.

Earlier, Vietnam reported 16 COVID-19 cases at 6pm on February 28, including 12 locally infected cases in the northern province of Hai Duong, the country’s largest COVID-19 hotspot, and four imported cases in the southern provinces of Tay Ninh and Dong Thap.

Of the total infections, there were 1,542 domestically-transmitted cases, including 849 recorded since the latest outbreak hit the northern province of Hai Duong on January 27.

Ten cities and provinces nationwide have gone through 16 consecutive days without any locally-infected cases of COVID-19, including Hoa Binh, Dien Bien, Ha Giang, Binh Duong, Hung Yen, Bac Giang, Gia Lai, Bac Ninh, Quang Ninh, and Ho Chi Minh City. Meanwhile, Hanoi has recorded 14 straight days of no coronavirus cases.

A total 60,693 people who came in close contact with COVID-19 patients or arrived from pandemic-hit areas are under quarantine nationwide, including 560 at hospitals, 12,298 at other quarantine sites, and 47,835 at home.

Among patients under treatment, 62 have tested negative for SARS-CoV-2 once, 53 twice, and 95 thrice.

Report from the Treatment Sub-committee showed that Vietnam has seen 1,876 recoveries so far.

In a bid to live safely with the pandemic, people should strictly follow the Ministry of Health’s 5K message: khau trang (facemask), khu khuan (disinfection), khoang cach (distance), khong tu tap (no gathering), and khai bao y te (health declaration)./.

Hai Duong dissolves COVID-19 treatment hospital No.1

Chairman of the Hai Duong provincial People’s Committee Nguyen Duong Thai, who is also head of the provincial Steering Committee for COVID-19 Prevention and Control, on February 27 decided to dissolve the hospital No.1 for COVID-19 treatment as the locality has basically kept the pandemic under control.

All the COVID-19 cases being treated at the hospital were transferred to the COVID-19 treatment hospital No.3 at Sao Do University in Chi Linh city, which is managed by the Hai Duong General Hospital.

The hospital No.1 was established on February 2 at Chi Linh city’s medical centre to serve treatment for COVID-19 patients after a new COVID-19 outbreak in the locality, with hundreds of infections were confirmed.

According to the provincial Centre for Disease Control, as of 4:00 pm on February 27, Hai Duong recorded a total of 653 coronavirus infections. The number of F1 cases is 16,385, of which 3,328 are quarantined in concentrated quarantine sites. The locality has so far collected over 400,000 samples for SARS-CoV-2 testing.

Vietnam reported no new COVID-19 case on February 28 morning, making the national count unchanged at 2,432, according to the National Steering Committee for COVID-19 Prevention and Control.

A total 1,844 COVID-19 patients have recovered so far, and the death toll remains at 35./.

HCM City plans to trial exclusive lanes for buses

The HCM City Public Transport Management Centre has announced plans to trial bus lanes on Điện Biên Phủ and Võ Thị Sáu streets during peak hours.

Private vehicles will be prohibited from entering the lanes at that time.

The lanes, 3.25 metres wide, will be separated from the other lanes by barriers.

Nguyễn Trung Tín, former head of the department’s road transport management, said the city used to have an exclusive bus lane on Trần Hưng Đạo Street (District 5), but it did not work efficiently though they are successful in other countries.

This was because other vehicles kept intruding and there was lack of support from the public since the lanes affected shops and other businesses, he explained.

Before the pandemic buses would often get stuck in traffic during peak hours and be late.

The centre also plans to start new 21 bus routes with high-quality service, free wi-fi and other modern conveniences.

Gia Lai rapidly expands forest cover, helps improve livelihoods

The Central Highlands province of Gia Lai has been growing new forests and protecting existing ones in recent years to expand forest cover and improve people’s livelihoods.

The province, which has the largest forest cover in the Central Highlands region, planted nearly 25,300ha in 2017-20, 6.3 times its target.

In Mang Yang District’s Hra Commune, the Hra Protective Forest management board allocated more than 6,300ha of forests last year to individuals, households and communities to exploit while also protecting them.

Nguyen Van Chin, head of the board, said besides planting and protecting forests, the board focuses on advocacy activities to enhance awareness of households and communities living near forests of the need to protect them.

Together with local authorities it organises advocacy activities to annually reach around 1,500 people in the commune’s 12 villages.

With these and support for illegal loggers to overcome their family’s financial difficulties, it has managed to stop the logging and make loggers forest guardians.

Seeing the good examples set by the former illegal loggers, other residents in the commune have also stopped cutting trees and are instead keen to be allotted tracts of forest for protection.

The money authorities pay them for this task helps them have a stable life.

Krong Chro district is one of the localities to do well in growing and protecting forests through advocacy.

Nguyen Lam, deputy head of its forest protection bureau, said the district organises meetings in villages to encourage people to grow trees on deforested lands.

“The new forests are growing well, creating jobs and improving people’s incomes.”

There were nearly 200 households in the district registering to grow nearly 400ha of new forests last year, according to the bureau.

Around 700 households in the district, mostly ethnic minorities, registered to plant trees on nearly 2,250ha in 2017-19, comfortably higher than the target the province People’s Committee set the district.

The province’s Forest Protection Sub-department has petitioned the Government to increase the fee paid to ethnic households for forest protection.

Gia Lai wants to increase its forest cover rate to 47.5 percent by 2025.

It has 633,325ha of forests now, including 543,131ha of natural forests, according to the department./.

Hanoi police investigate attacks on foreign women

Police in Tay Ho district, Hanoi are conducting an investigation after they were informed that several foreign women were attacked by a group of youngsters while they were strolling around the West Lake, Hanoi Police said on February 28.

Initially, 25 suspects were found to have close links to the case.

The police have summoned an individual suspected of carrying out violent assaults against the foreign women.

Earlier, the women reported to the police in Quang An ward (Tay Ho district) that they were attacked by a group of youngsters who drove motorbikes. The young men even threw stones, and used belts to hit them./.

Vinh Phuc moves towards sustainable population development

The northern province of Vinh Phuc plans to have its entire population managed by the national population database system.

Under the province’s population strategy in the 2021-2025 period, it will provide health insurance and offer medical examinations and treatment to all elderly people at home and in healthcare facilities.

Vinh Phuc aims to maintain a reasonable age structure, with the ratio of children under 15 years old to be 23.5 percent and people aged 65 and over to be 9 percent.

It will bring the fertility rate closer to the replacement fertility level, increase the rate of women of reproductive age having convenient access to modern contraception and support in reproductive health to 95 percent, and halve the number of unwanted pregnancies.

The province aims to have 70 percent of young men and women obtaining health advice and check-ups before marriage, 50 percent of pregnant women being screened for at least four of the most common birth defects, and 70 percent of new-born babies being screened for at least the five most common congenital diseases.

It expects to see life expectancy of 75 years, while the urban population rate is to stand at 50 percent of the total.

The province is working to fully tap into its “golden population structure”, adapt to population aging, and improve quality of the population, thus contributing to its socio-economic development.

To reach these targets, provincial authorities will focus on improving mechanisms, policies, and laws on population, and bolstering the quality of population-related services.

It also has policies to encourage organisations, businesses, individuals, and production and distribution establishments to provide population-related services./.

150 million doses of Covid-19 vaccine to be offered free of charge for Vietnamese people

Vietnam has planned to provide around 150 million doses of Covid-19 vaccine for local people free of charge this year.

Prime Minister Nguyen Xuan Phuc has issued a resolution on the purchase and use of Covid-19 vaccines this year.

According to the resolution, Vietnamese people aged from 18 years old will be vaccinated with 150 million doses of Covid-19. The vaccines are sourced through purchase, import and aid.

The vaccines will be prioritised to medical workers; people in the anti-pandemic efforts (Covid-19 prevention and control steering committees of all levels, quarantine facility staff, reporters.); diplomats, customs officers and people working entry and exit procedures; military personnel; public security forces; teachers; those aged above 65; essential workers (aviation, transport, tourism staff, utility workers, etc.); people with chronic health issues; people who want to study or work overseas; and people in virus-hit regions.

The priority ranking is evaluated based on criteria such as areas where Covid-19 cases are present, areas with Covid-19 deaths occurred, major cities with high population density and localities considered traffic and transit hubs.

The government is also encouraging agencies to hold Covid-19 vaccination services for their staff.

The resolution, however, does not mention the specific time for the vaccination.

Gia Lai rapidly expands forest cover, helps improve livelihoods

The Central Highlands province of Gia Lai has been growing new forests and protecting existing ones in recent years to expand forest cover and improve people’s livelihoods.

The province, which has the largest forest cover in the Central Highlands region, planted nearly 25,300ha in 2017-20, 6.3 times its target.

In Mang Yang District’s Hra Commune, the Hra Protective Forest management board allocated more than 6,300ha of forests last year to individuals, households and communities to exploit while also protecting them.

Nguyen Van Chin, head of the board, said besides planting and protecting forests, the board focuses on advocacy activities to enhance awareness of households and communities living near forests of the need to protect them.

Together with local authorities it organises advocacy activities to annually reach around 1,500 people in the commune’s 12 villages.

With these and support for illegal loggers to overcome their family’s financial difficulties, it has managed to stop the logging and make loggers forest guardians.

Seeing the good examples set by the former illegal loggers, other residents in the commune have also stopped cutting trees and are instead keen to be allotted tracts of forest for protection.

The money authorities pay them for this task helps them have a stable life.

Krong Chro district is one of the localities to do well in growing and protecting forests through advocacy.

Nguyen Lam, deputy head of its forest protection bureau, said the district organises meetings in villages to encourage people to grow trees on deforested lands.

“The new forests are growing well, creating jobs and improving people’s incomes.”

There were nearly 200 households in the district registering to grow nearly 400ha of new forests last year, according to the bureau.

Around 700 households in the district, mostly ethnic minorities, registered to plant trees on nearly 2,250ha in 2017-19, comfortably higher than the target the province People’s Committee set the district.

The province’s Forest Protection Sub-department has petitioned the Government to increase the fee paid to ethnic households for forest protection.

Gia Lai wants to increase its forest cover rate to 47.5 percent by 2025.

It has 633,325ha of forests now, including 543,131ha of natural forests, according to the department.

Police break up cross-border infant trafficking ring

Police forces operating in Hanoi and Cao Bang have busted a group trafficking newborn babies, saving the lives of four infants and subsequently arresting four mothers.

The police searched houses on February 25 to investigate traders hired to take care of the newborn babies before selling them on to China.

Four mothers were arrested on suspicion of getting involved in the trafficking ring, while four babies were also rescued.

During the operation, the police also discovered an eight-month pregnant woman who had intended to sell her child once the baby is born, along with two other pregnant mothers who had been brought to China.

The police said the large-scale nature of the newborn trafficking ring involves the participation of both domestic and foreign suspects.

At present, the four babies are now being taken care of by a social welfare centre operated by the Vietnam Women’s Union.

The police are expanding the scope of investigation.

HCM City to provide support to both public and private schools

The HCM City Department of Education and Training has proposed to provide financial support to both public and private schools to lower tuition fees.

Private primary schools and public primary schools which have been granted financial autonomy will get the support. This move aims to create education equity between all kinds of educational facilities and students since primary education is mandatory.

Not only will the plan help ease the burden on the students’ families, but it will also have positive impacts on the development of the private sector and help deal with the overcrowding problems at public schools. It will encourage more investment in private schools. The funds will come from the city’s budget.

At some public schools in HCM City, students go to schools in both the morning and afternoon, half of the day is mandatory and another half is voluntary with parents and schools needing to reach an agreement over tuition fees.

The HCM City Department of Education and Training also proposed giving VND70,000 per student per month to students that go to all-day public primary schools for the 2021-2022 school year.

COVID-19: Made-in-Vietnam vaccine protects people against UK variant

Nano Covax, Vietnam’s first locally-produced COVID-19 vaccine, has elicited a host of antibodies that help to protect those injected against the B.1.1.7 variant of the SARS-CoV-2 virus which originates from the UK, according to a leading Vietnamese scientist.

Prof. Do Quyet, director of the Vietnam Military Medical Academy, outlined the information as part of a brief announcement during the launch of the second phase of human clinical trials on Nano Covax which took place on February 26 in Hanoi.

“Preliminary research results show that the potent antibodies elicited by Nano Covax prove to be effective against the variant B.1.1.7 from the UK,” said Prof. Quyet.

The country kick-started the initial phase of human trials of Nano Covax last December, marking the first vaccine of its kind to be produced locally by Nanogen Pharmaceutical Biotechnology JSC, one of the four COVID-19 vaccine producers currently operating in the country.

It is now in the process of launching the second phase of trials in both Hanoi and the southern province of Long An with the participation of approximately 560 volunteers aged between 12 and 75.

The second phase is set to be focused on the safety and efficiency of the vaccine, especially the generation of antibodies, as the vaccine will also be tested on elderly people suffering from underlying health issues, according to Prof. Quyet.

“In phase 2 we will continue to evaluate whether these antibodies can resist the variant from South Africa,” he said.

Vietnamese scientists have conducted genome sequencing and found there are five variant strains of the SARS-CoV-2 virus since the initial COVID-19 outbreak erupted in January 2020.

Most notably, variants VOC202012/01 and B.1.1.7 which originate from the UK and A.23.1 from South Africa have recently been detected at COVID-19 hotspots in Hai Duong province and Ho Chi Minh City, respectively.

While locally-made vaccines are currently in the process of undergoing clinical trials, the country is striving to ramp up the import of COVID-19 vaccines as part of the national vaccination campaign.

The initial batch of AstraZeneca vaccine arrived in Ho Chi Minh City on February 24, with more than 117,000 doses landing in the country.

The Ministry of Health (MoH) is due to ramp up the inoculation programme in early March, with priority set to be given to frontline healthcare workers, soldiers, border guards, policemen, along with those on duty in isolation areas and quarantine facilities.

Vietnam requires at least 150 million doses of COVID-19 vaccines for the national vaccination programme this year. However, Health Minister Nguyen Thanh Long believes the country is likely to receive only 90 million doses in 2021.

Along with the import of 60 million doses of the AstraZeneca vaccine agreed with AstraZeneca and COVAX, the nation is also negotiating to import a further 30 million doses of the Pfizer vaccine of the United States.

The MoH is therefore considering licensing two additional COVID-19 vaccines produced by Moderna of the United States and Generium of Russia.

British Council announces In Progress-series in Vietnam

Cutting across multiple disciplines, the In Progress will introduce 12 interesting events ranging from exhibition, multisensory puppet show, film screenings to a workshop bridging art and education, a new engagement with an old art form, and many more. In the context that COVID-19 is still complicated, there is likely a change in time and organisation form for each event.

During the time of the program, from March to May 2021, the British Council will be closely monitoring the situation and ready to take necessary measures as well as cooperate with local government agencies to put all necessary measures in place. Follow the council’s Website and Facebook for the update and further information about the 12 events.

With an aim of contributing to the enrichment of the cultural life of Vietnamese people by bringing diverse art and cultural events to the public; and to offer opportunity for cultural and creative hubs from different parts of the country to connect with each other and to work with artists and creative practitioners in designing and organising art and cultural events, in November 2020, under the Cultural and Creative Hubs Vietnam, the British Council launched an open call to the artistic and creative community for proposals to organise art and cultural events in all parts of Vietnam.

The response to the Open call has been overwhelming and 12 event proposals were selected to form In Progress that includes:

1. A visual art exhibition named ‘Abracadabra’ by Old Soul Art hub, Danang

2. A group exhibition ‘Virtual Private Realms’ by Vân Đỗ and Hà Ninh, Hanoi

3. A series of exhibition, discussion, and poetry reading ‘I write (in Vietnamese)’, by BlueBirds’ Nest, Hanoi

4. An experimental project with a library, an installation, a performance, workshops and talks ‘A queer museum’ by Đinh Thị Nhung, Hanoi

5. An educational concert and storytelling concert ‘Mummy’s Heart’ by Phạm Thị Hoài Anh, Hanoi

6. A public art event ‘Edge of the Citadel’ by Mơ Đơ, Hue

7. A series of art for children workshops and training of trainers ‘Listen to the Little Ones’ by Đông Thanh creative learning hub and Vẽ Voi (Drawing Elephant) project, HCM City

8. A journey with films ‘Như Trăng Trong Đêm’ by the Centre for Assistance and Development of Movie Talents (TPD), HCM City

9. Hai Phong: A week of Culture and creativity by Cửa Biển creative and cultural hub, Hai Phong

10. A multisensory puppet show ‘Little Peanut and the Sneeze Theory’ by Mắt Trần Ensemble, Ninh Binh

11. A series of exhibition, mini concert, and audience-interactive activities ‘Eyes of Xẩm’ by Chèo 48h, Hanoi

12. A concert and film screening event ‘Wandering/Sheltering’ by The Empathy Museum, Hanoi

One of the challenges that In Progress posed to all participating artists and creatives was to reach out to the harder to reach groups, and to thrive to create tangible values for those who might not have previously been benefiting from independent artistic and cultural practices.

All 12 projects have taken up this challenge brilliantly by not only aiming to reach people who live outside of megacity areas, but also by demonstrating how the arts and culture can become effective vehicles in exploring, understanding and improving many aspects of life for a wide range of audiences of different age groups and backgrounds, thus contributing to enhance people’s awareness and wellbeing.

In Progress is truly an unprecedented opportunity for creative hubs and cultural practitioners to connect with artists across the country and thereby reaching out of their areas to new groups of audiences, shared by Vu Thi Thanh Binh, project manager of Hai Phong: A week of Culture and creativity.

Meanwhile, Tran Duy Hung, project manager of ‘Như Trăng Trong Đêm’ has good expression that In Progress is an exciting project with a look of a festival. The program is highly valued for its diversity in the content, in form of presentation as well as difference in location of events. He does hope this will be a stepping stone for many similar programs from the British Council in the future.

ASEAN seeks to strengthen minerals cooperation

The Association of Southeast Asian Nations (ASEAN) has held a workshop on the Development Prospects for the ASEAN Minerals Cooperation (DPAMC) and Scoping Study of the ASEAN Minerals Database and Information System (AMDIS), aiming to promote regional minerals cooperation.

During the two-day workshop, participants discussed the initial findings and recommendations from the drafts of the DPAMC Study and the AMDIS Scoping Report under the “Strengthening ASEAN Cooperation in Minerals” project.

The DPAMC Study will stock-take existing ASEAN minerals development and cooperation in the context of global markets and minerals industry, and propose corresponding regional strategies and measures.

The study’s recommendations are expected to help define the future direction of ASEAN minerals cooperation and will be considered in the development of Phase 2 (2021-2025) of the ASEAN Minerals Cooperation Action Plan.

Meanwhile, the development of an effective ASEAN minerals database is crucial to minerals cooperation which includes facilitating much needed investment into minerals exploration and development in the region. AMDIS Scoping Study’s recommendations are expected to be considered in the enhancement of the current system.

Both project components aim to promote economic activities in the post-COVID-19 period, as well as ASEAN’s efforts to respond to the challenges and opportunities of a more minerals-intensive future.

The project is a collaboration between the Energy and Minerals Division of the ASEAN Secretariat and the ASEAN-Australia Development Cooperation Programme II, along with a team of experts from the University of Queensland. The final reports are expected to be completed by November 2021./.

Youth Month 2021 launched in Thai Nguyen province

The youth unions of the Central Agencies Bloc and the northern province of Thai Nguyen on February 28 co-organised a ceremony in the locality to kick off the Youth Month 2021, and launch a tree-planting festival.

The event was in response to the 90th founding anniversary of the Ho Chi Minh Communist Youth Union (March 26, 1931-2021).

A wide range of programmes and activities were held in the framework of the event, including presenting gifts to 15 former volunteer youths, bikes to 10 students with special circumstances in Dai Tu district and bookcases to local schools, and supporting the building of house for one poor household, among others.

Following the launching ceremony, the participants and local youths planted trees, and clean up the Vietnamese youth historical relic site, and several roads in Dai Tu district./.

ASEAN, Canada, UN Women advance women’s role in conflict prevention

The Association of Southeast Asian Nations (ASEAN), Canada and UN Women recently launched a five-year programme to expand and strengthen women’s leadership and participation in conflict prevention, resolution and recovery in Southeast Asia.

The 8.5 million CAD (6.36 million USD) programme, “Empowering women for sustainable peace: preventing violence and promoting social cohesion in ASEAN”, is funded by Global Affairs Canada to support ASEAN and the implementation of the ASEAN-Canada Plan of Action 2021-2025, with the support of UN Women as a lead UN partner.

“Canada is proud to launch this flagship initiative that uses the women, peace and security approach to promote inclusive and sustainable peace and security in the region, while addressing the systemic gender inequality,” said Diedrah Kelly, Canada’s Ambassador to ASEAN.

ASEAN has made important strides to advance women, peace and security agenda, including the adoption of the first ‘Joint Statement on Promoting Women, Peace and Security in ASEAN’ in 2017, the launch of the ASEAN Women’s Peace Registry in 2018, and convening the first ASEAN Symposium on Women, Peace and Security in 2019 and the ASEAN Ministerial Dialogue on Strengthening Women’s role for Sustainable Peace and Security in 2020.

Secretary-General of ASEAN Dato Lim Jock Hoi said, “ASEAN is working concertedly to advance women, peace and security agenda across the three ASEAN Community Pillars as part of our commitment to promote gender equality and the roles of women in the implementation of the ASEAN Comprehensive Recovery Framework.”

The COVID-19 impact has increased the risks for women and girls in fragile and conflict-affected contexts and this challenges us to re-examine threats to human security. “The pandemic highlights the important linkage between peace, humanitarian and development and the critical need for women’s leadership and participation to ensure effective and comprehensive response, from policy decision-making to peace building and pandemic response,” said Jamshed Kazi, UN Women Representative and Liaison to ASEAN.

The new programme reflects the commitment of ASEAN and Canada to promote gender equality and to respond to an increasingly widespread call across the globe for women to be empowered to lead and participate in peace and development.

ASEAN includes Brunei, Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam./.

Đồng Tháp Province tightens control of border gates, trails after Vietnamese woman with COVID-19 enters illegally

The People’s Committee in the Mekong Delta province of Đồng Tháp on Saturday instructed local authorities and agencies to strengthen control of border gates, trails and crossings following the illegal entry of a Vietnamese woman who tested positive for SARS-CoV-2.

Đoàn Tấn Bửu, vice chairman of the People’s Committee and standing deputy head of the Steering Committee for COVID-19 Prevention and Control, said that health officials should quickly track down and quarantine people who have come into contact with the woman.

Previously, the woman was quarantined at Hồng Ngự Vocational Training School after it was discovered that she illegally entered the province with another woman from Cambodia and booked a room at a guesthouse in Tân Hồng District’s Sa Rài town on February 23.

On February 25, testing results at HCM City Pasteur Institute showed that one of them had tested positive for SARS-CoV-2. The Vietnamese patient worked at a casino in Phnom Penh.

The other woman tested negative for the virus.

The patient is being treated at Hồng Ngự General Hospital in the province.

According to provincial agencies, 11 people have had close contact with the woman. Of these, nine, including three from Cần Thơ, have been quarantined. The remaining two are still being traced.

Forty people, who are contacts of her close contacts (F1), are quarantined at home.

Bửu warned that people in the province should comply with the Ministry of Health’s 5K message: Khẩu trang (facemask) – Khử khuẩn (disinfection) – Khoảng cách (distance) – Không tụ tập (no gathering) – Khai báo y tế (health declaration).

People should contact local health officials to report people suspected of returning to the province from COVID-19 hit areas.

The province shares a 50-kilometre border with Prey Veng Province in Cambodia. The province’s border guards have been working with police to patrol the border for illegal entries.

Village elder dedicated in Krêl economic and cultural development

In Krêl Village in Đức Cơ District of Gia Lai Province in the Central Highlands, one ethnic minority member stands head and shoulders above the rest.

Rơ Mah Chel is a inspiration to his peers and has gained the trust and respect of all those around him.

Together with the head village and local authority, he has helped residents improve their education, change the old habits, and apply advanced techniques in cultivation and husbandry to get out of poverty.

He is also the person who informs people of the Government’s policies and conveys their aspirations to the local authority.

Chel has been a teacher since he was 20. He chose the career as he believed that knowledge would change his life and he could help his villagers improve theirs too.

Chel said he started his job when the village was quite poor and underdeveloped. He had to go to every students’ house to persuade their parents to let the kids go to school. In the morning, he came and picked up the students and took them home, even continuing lessons late into the night.

Years have gone by and some of his students have become officials with the local authorities. He is still dedicated to the job at Võ Văn Kiệt Primary School in Ia Dơk Commune in Đức Cơ District.

Among few literate people in the village, Chel read books on techniques of cultivation. He realised that the land of his village was nutritious, but the crops’ productivity remained poor due to people’s lack of knowledge and old fashioned habits.

He decided to be the pioneer to change people’s cultivation techniques. He took courses on coffee and rubber planting and applied these methods himself.

After the first year, he had earned nearly VNĐ300 million (US$13,070) from two hectares of rubber trees, one hectare of coffee trees and more than 100 pepper trees. After several years, he built a new house much to the surprise of local residents.

People rushed to his home to ask for advice and Chel was happy to share his knowledge and experience with the villagers. The more he shared, the more he gained their trust and respect.

It was time for Chel to make revolution in changing people’s bad habits. He taught them to cook and preserve food properly. He told them to move the animal farm far away from the residential areas. He encouraged them to eliminate old habits and apply new technology in cultivation to improve the productivity.

Chel is also the person to give mediation for local couples and young people. He is enthusiastic about preserving the traditional culture of the Central Highland. Chel opens free gong classes to teach the young generation how to play musical instruments and contributes to rebuild the traditional Rông community houses in the village.

Đức Cơ District’s People’s Committee chairman Siu Luynh said the local authority highly appreciated Chel’s contribution to the cultural and economic development of Krêl Village.

He was among reputable and knowledgeable person dedicated to the cultural preservation of the ethnic minority in the locality.

Mekong Delta farmers get bumper harvest, high prices for winter-spring rice

Farmers in the Cửu Long (Mekong) Delta, the country’s rice granary, are having a bumper winter-spring harvest and getting high prices for their grain.

In Tiền Giang, farmers in the Gò Công freshwater zone have harvested around 4,000ha and got an average yield of 6.5 tonnes per hectare, 1.2 tonnes more than last year, according to the province Department of Agriculture and Rural Development.

The zone, which comprises Gò Công Đông, Gò Công Tây and Chợ Gạo districts and Gò Công Town, is well known for growing fragrant and high-quality rice varieties for export.

Nguyễn Văn Mẫn, the department director, said farmers there sowed more than 21,800ha of rice, or 96 per cent of the target, almost all of it with fragrant and high-quality varieties.

Traders have been buying at the field at VNĐ8,600 per kilogramme, VNĐ1,900-2,000 higher than last year, enabling farmers to earn nearly VNĐ32 million (US$1,520) per hectare, VNĐ13.3 million ($580) higher, according to the department.

The delta’s 12 provinces and Cần Thơ City had sowed the crop about one month earlier than normal to escape the impacts of saltwater intrusion and lack of freshwater during harvest.

Farmers grew 1.5 million hectares, slightly down from last year since in some places they were worried about possible saltwater intrusion and drought.

However, they have had sufficient water for irrigation.

In Cà Mau Province, they have harvested more than 2,000ha of the 36,000ha grown so far, according to its Department of Agriculture and Rural Development.

In Trần Văn Thời District, which has large areas under the rice-shrimp farming model, many farmers have started growing high-quality rice varieties like ST 24 and ST 25.

Both the rice and shrimp farmed under this model are clean since little chemical is used.

In Trần Văn Thời District, farmers are getting a high price of VNĐ9,000 for ST 25, which ranked first in the 2019 World’s Best Rice Contest.

In Hậu Giang Province, farmers are selling their rice at VNĐ500-800 a kilogramme higher than last year.

Trần Chí Hùng, director of its Department of Agriculture and Rural Development, said local authorities and farmers had been regularly warned about saltwater intrusion so that they would take proactive measures to protect themselves.

A salinity level of 0.39 per cent or more has been recorded in Vị Thanh City since the middle of this month while 0.24 per cent has been found in Long Mỹ District.

Most rice varieties can only cope with a salinity level of up to 0.1 per cent.

The peak saltwater intrusion in the delta this year is forecast between February 25 and March 4.

Farmers are expected to complete harvest of the rice crop by May, according to the Ministry of Agriculture and Rural Development’s Plant Cultivation Department.

Bus goes around HCM City supplying free face masks

A ‘face mask bus’ has been going around HCM City, dispensing high-quality face masks for free.

Painted bright yellow, it has a sensor that automatically sprays hand sanitiser first when someone puts their hand in before coming up with the mask.

People have to stand in a queue and keep a distance of two metres from others.

The vehicle has travelled to some crowded places like Miền Tây and Miền Đông bus stations, several industrial zones, the cultural house in Tân Bình District and other public places.

It was launched on February 6.

Phạm Quang Anh, director of Dony International Joint Stock Company, came up with the idea six months ago when COVID-19 was raging.

The masks it dispenses are certified as meeting Germany’s REACH standards for protecting human health and the environment.

They can be reused several times, reducing the impact on the environment, Anh said.

Beside donations from sponsors, Dony also plans to spend 5 per cent of its revenues on providing the masks.

The bus also plans to travel to Hải Dương Province, a COVID-19 hotspot.

Aid offered for development of homegrown COVID-19 vaccine

The Ministry of Health (MoH) on February 27 received VNĐ20 billion (US$866,620) from conglomerate Vingroup for the clinical trials of homegrown COVID-19 vaccine COVIVAC.

The candidate vaccine is being developed by the MoH’s Institute of Vaccines and Medical Biologicals (IVAC).

Speaking at the handover ceremony, Minister of Health Nguyễn Thanh Long spoke highly of the support of enterprises, organisations and individuals for Vietnam’s fight against the COVID-19 pandemic.

The first “Made-in-Vietnam” ventilators were produced under the collaboration of the ministry and Vingroup, he noted, adding that the machines have been provided to localities nationwide.

Vietnamese scientists have regarded vaccine development as the key factor to contain the pandemic, and the MoH has spared no efforts in the research for vaccine in order to be able to produce the vaccine as soon as possible.

The COVIVAC vaccine project has been rolled out since May 2020.Results of pre-clinical trials affirmed its safety and efficiency, and the IVAC has been able to produce three batches of vaccine consisting between 50,000 and 10,000 doses each.

Clinical trials of the vaccines are projected to start this March and complete by October, said IVAC Director Dr Duong Huu Thai.

A dose may cost no higher than 60,000 VND and the vaccine is effective against emerging coronavirus SARS-CoV-2 variants originated from the UK and South Africa, he affirmed.

Meanwhile, the third domestic candidate vaccine VABIOTECH  developed by the Company for Vaccine and Biological Production No 1, is also set to enter clinical trials in the coming time.

Restaurants, other services in HCM City to reopen

The city authorities of HCM City have allowed the reopening of restaurants and other services starting from March 1.

There have been no community transmitted COVID-19 cases in the city since February 11.

Dương Anh Đức, deputy chairman of the city’s People’s Committee, said the city could reopen tourism activities, food and beverage businesses, wholesale markets, wet markets, museums and libraries.

However, services such as bars, pubs, beer clubs, sports facilities and gyms will remain closed until further notice.

Activities not included in these groups can reopen but must comply with COVID-19 epidemic prevention and control regulations.

Ceremonies, religious and worship activities can be held with no more than 50 people at the same time. Attendees must follow COVID-19 prevention regulations and maintain social distancing of one metre or more.

On February 24, the city People’s Committee approved the Department of Education and Training’s proposal to reopen schools from Monday (March 1).

The People’s Committee on February 9 directed related units to stop all cultural, sports, entertainment activities, and temporarily close all beauty salons, karaoke, pubs, bars, beer clubs, massage, video games, theatres, movie cinemas, sports facilities, yoga classes and gyms to avoid the spread of the COVID 19.

Three in Hà Nội arrested for role in cross-border baby selling ring

Hà Nội police announced Friday they have arrested three people in a “major ring” charged with trafficking Vietnamese infants to China and rescued four babies last night.

The three are Mai Minh Chung (born in 1985) and Đặng Trương Đào Nguyên Anh (born in 1996), both residing in Ngọc Hồi Commune, Thanh Trì District, Hà Nội, and Ninh Thị Hải Yên (born in 1988), residing in Quán Thánh Ward, Ba Đình District, Hà Nội.

According to police, in 2019, Chung worked in Fujian Province, China, and met a man named Tính, who claimed to be from the central province of Thanh Hoá and served as a middle man to bring Vietnamese to China to work in factories.

Chung learned Tính had been selling Vietnamese infants to buyers in China and asked to be involved in the ring.

Chung was tasked with finding pregnant mothers who cannot afford to provide for the babies or those who want to put their babies for adoption, police said.

Via social media, Chung reportedly colluded with people identified only as Lương Ngọc and Hải Nga (whose identities remain unknown) to have these two people receive the pregnant women in the border province of Cao Bằng and then guide them to China through unofficial routes and hand them over to Tính.

For every successful handover, Tính is thought to have paid VNĐ30 million (US$1,300) to Chung and VNĐ80 million ($3,400) to the mother.

From 2020 November to January 2021, Chung allegedly colluded with three Vietnamese people known only as Út, Loan and Sáu, and found seven pregnant women who wished to sell their babies – including one who had crossed over to China to give birth to the baby and sell it to Tính, two women who came to Cao Bằng Province but could not cross the border, and four others that they lost contact with.

On January 31, 2021, Chung rented an apartment in Hà Nội and worked with Ninh Thị Hải Yến to find four pregnant women. Two went to China to give birth and handed the babies to Tính while two had given birth but were waiting to bring their babies to China.

In addition, through his girlfriend Đặng Trương Đào Nguyên Anh, Chung learned about a woman in the southern province of Cần Thơ who was eight months pregnant and brought her to Hà Nội, waiting for the day to go to China.

Tính is thought to have paid Chung VNĐ66 million for this case.

This is a major infant trafficking ring that the criminal police has been following for a long time, Colonel Phan Mạnh Trường, deputy head of the Ministry of Public Security’s Criminal Police Department said.

The police raided locations related to the ring’s activities on Thursday night and rescued four babies that were about to be brought to China.

Four mothers have been arrested, including the eight-month pregnant woman.

The police also managed to identify two other expecting women who had been brought to China, Trường told the media.

The investigation is ongoing.

Source: VNA/VNS/VOV/VIR/SGT/Nhan Dan/Hanoitimes

Filed Under: Uncategorized Vietnam news, vietnamnet news, Vietnam latest news, Vietnam breaking news, news headline 4 june 2018, news headline 4 2day, news headline 6 june 2017, ary news headline 6pm, express news headline 6pm, news headlines 7 june 2018, news headlines 7 june 2017, news headlines 7 may 2018, ary news headline 8 october 2017, news headline when i was born, news headline how to write, news headline how to

Vietnam aims for GDP per capita of $5,000 by 2025, developed country status by 2045: 13th Party Congress’s Resolution

February 27, 2021 by vietnamnet.vn

The Communist Party is aiming for Vietnam to reach GDP per capita of $5,000 by 2025 and to be a developed country by 2045.

Vietnam aims for GDP per capita of $5,000 by 2025, developed country status by 2045: 13th Party Congress's Resolution

Party delegates voted to adopt the Resolution of the 13th National Party Congress at the final session of the Congress held on February 1, 2021.

The goals are part of the Resolution of the 13th National Party Congress held from January 25 to February 1, the entirety of which has just been released by the Office of the Party Central Committee.

The Resolution noted the highlight of the 12th tenure was the successful handling of the COVID-19 pandemic resulting in significant economic achievements – including stable macroeconomics, controlled inflation and high GDP growth, while people’s living standards were improved. The fight against corruption, loss and waste was intensified, while the socio-political situation remained stable, foreign relations deepened and Vietnam’s profile on the international stage grew.

However, numerous shortcomings – including slow modernisation and industrialisation, shifting in the growth model, limited competitiveness and quality and productivity of the economy, inadequate adaptation to climate change and environment protection demands, drawbacks in Party building and rectification, that science and technology has not been the driving engine of socio-economic growth and the lives of certain groups of people remain difficult – of the 12th tenure have been identified in the Resolution.

The achievements of 35 years of implementation of doi moi (Reform), 30 years of implementing the 1991 Party Platform and in the 10 years of implementing the 2011 Revised Party Platform have proved that the country’s path towards socialism is consistent with Vietnam’s practical situation and the times’ development trends, with the Party’s righteous leadership the leading factor in Vietnam’s revolutionary victories, the Resolution reads.

Amid rapidly shifting and complex developments in the global scene, the Party Platform continues to serve as the ideological flag to gather the collective strength of united peoples for the goal of a “prosperous-people, strong-nation, democratic, equitable, and civilised” Vietnam.

Development vision and orientations

In the coming years, the challenges and opportunities of a complicated world demand the entire Party and Vietnamese people to “unite” and continue to have major changes in mindset and make correct and timely forecasts of the situation to prepare and deal with any circumstance, to “bring the country forward on the path of rapid, sustainable development” and the attainment of many orientations, goals, and tasks.

The Resolution lists major guiding orientations of the years forward, including “persistent and innovative” implementation of Marxist-Leninism and Hồ Chí Minh ideology, persistent pursuit of socialism and independence and upholding national interests based on the principles of the United Nations’ Charter and international law and the spirit of equal and win-win co-operation, with national defence and security in mind.

It also aims to enhance patriotism, the spirit of resilience, national unity and people’s aspirations to develop a prosperous and happy nation, promoting socialist democracy, enhancing the quality of human resources and promoting innovation and science and technology – especially the achievements of the Fourth Industrial Revolution – in service of the country’s sustainable and rapid development.

In addition, Party building and governance are goals, working towards a streamlined and effective Party system with quality cadres and civil servants.

The “general objectives” are identified as improving the Party’s leadership and ruling capacity; building a pure, strong and comprehensive Party and political system; consolidating and raising people’s confidence in the Party, the State and the socialist regime; fomenting aspirations to develop a prosperous and happy country; promoting the will and strength of national solidarity; promoting comprehensive and synchronous đổi mới (reforms), industrialisation, and modernisation; building and firmly defending the Fatherland, maintaining a peaceful and stable environment; and striving to become a developed country with socialist orientations by the middle of the 21st century.

The “particular objectives” are set on Vietnam becoming a developed nation with a modern industrial base and leaving the ranks of lower-middle-income countries by 2025 – the year marking the 50th anniversary of the liberation of the south and national reunification. By 2030, when the Party celebrates its 100th founding anniversary, Vietnam is hoped to become a developing country with a modern industrial base and upper-middle incomes. By 2045, the 100th anniversary of the establishment of the Democratic Republic of Vietnam, now the Socialist Republic of Vietnam, Vietnam is hoped to become a developed, industrialised nation with high income.

In 2021-25, the Resolution sets a target for average GDP growth of 6.5-7 per cent, GDP per capita by 2025 reaching $4,700-5,000, the contributions of total factor productivity (TFP) in economic growth reaching 45 per cent, the labour productivity increase hitting 6.5 per cent a year, urbanisation reaching 45 per cent, the ratio of processing and manufacturing industries in the GDP exceeding 25 per cent, and the digital economy accounting for 20 per cent of the country’s GDP.

In this time frame, the Resolution aims for agricultural labour ratio staying at 25 per cent, the ratio of trained labour reaching 70 per cent, urban unemployment kept at below 4 per cent, the rate of multidimensional poverty maintaining a decrease of 1-1.5 per cent year-on-year, aiming for 10 doctors and 30 hospital beds for every 10,000 people, striving towards 95 per cent of the Vietnamese population being covered under the State’s health insurance, life expectancy reaching 74.5 years, and the ratio of communes obtaining new rural standards reaching at least 80 per cent, including 10 per cent meeting the requirements of exemplary new rural standards.

In terms of environment, by 2025, the goals are to have 95-100 per cent of the urban population and 93-95 per cent of rural population having access to clean and hygienic water, 90 per cent of urban waste properly collected and treated, 92 per cent of active industrial-processing zones outfitted with proper wastewater treatment facilities; 100 per cent of all businesses polluting the environment punished; and upholding the national forest coverage at 42 per cent.

The 13th tenure has “six central tasks”, with the first being Party building, building rules-based socialist State, with effective, corruption-free governance. The second task is controlling the COVID-19 pandemic, ensuring COVID-19 vaccination coverage, while engaging in economic recovery, pursuing the transformation of growth model and economic restructuring, implementing national digital transformation strategy, raising labour productivity and innovation, and third is upholding independence, improving the effectiveness of foreign affairs and international integration, building modern and elite armed forces, and maintaining peaceful and stable environment for development.

The fourth central task is inspiring patriotism among the people to develop a prosperous and happy nation, promoting the role of cultural values and the strength of Vietnamese people in nation-building and defence, with detailed policies to develop the culture of ethnic minority groups, carrying out social policies and ensuring social security for the people, raising living standards and happiness indexes of the Vietnamese people. Fifth is perfecting the legal system, institutions, and policies to promote socialist democracy. The final central task is to strictly manage, reasonably and effectively use land and natural resources, protecting the environment, and implementing adaptation measures to cope with climate change and natural disasters.

Breakthrough strategies

To achieve the goals, the Party sets three major breakthrough strategies – completing development institutions, developing human resources, and building modern infrastructure.

Regarding institutions, the Party identifies the need to improve development institutions for a socialist-oriented market economy; reforming State governance towards modernity and competitiveness; improving the legal system and institutions to create a favourable, healthy, and fair business and investment environment for all sectors of the economy where innovation can foster; mobilising, managing and using all resources – especially land, finance, public-private partnership – for development purposes; bolstering reasonable decentralisation, while enhancing inspections and keeping powers in check via the legal system.

For human resources, the Party wants a priority on high-quality human resources for leadership and management and key positions, based on “comprehensive and radical transformation of education and training quality in tandem with recruitment and incentive policies”; promoting research, transfer, application and development of science and technology, innovation; promoting the aspirations for national development, people’s sense of unity and national pride in nation-building and defence efforts.

The Resolution also states the demand for “modern and synchronous” social and economic infrastructure, with a focus on national key transport projects, climate adaptation projects, and information and communications projects to serve national digital transformation and the development of a digital economy and society.

VNS

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HCMC helps real estate firms to ride out difficulties

March 2, 2021 by english.thesaigontimes.vn

HCMC helps real estate firms to ride out difficulties

The Saigon Times

HCMC chairman Nguyen Thanh Phong speaks at the meeting – PHOTO: NLD

HCMC – HCMC leaders, including the city’s Chairman Nguyen Thanh Phong, Vice Chairman Le Hoa Binh and heads of departments, held a meeting with 16 real estate firms on February 27 to help them ride out their difficulties.

Deputy director of the HCMC Department of Construction Huynh Thanh Khiet said the real estate supply in 2020 dropped 34% year-on-year. As investors have focused more on the up-market segment, the proportion of newly developed luxury apartments and medium apartments jumped from 25% to over 41% and from 23.8% to 57%, respectively. Meanwhile, that of budget apartments dropped from 51% to 1%.

A representative of Novaland Group said some of the group’s projects are facing difficulties related to construction permits, house ownership certificates or legal procedures of the Thu Thiem new urban area.

“We hope that the Government and leaders of the city and departments will help us promptly resolve problems, enabling us to speed up our projects. This will help provide more products for the real estate market, meet the demand of the citizens, improve social security and contribute to the state’s budget,” he said.

Le Huu Nghia, director of Le Thanh Real Estate Company, said his company’s social housing projects have faced difficulties related to the legal procedures and tax policies. The time set for completing social housing project procedures has been shortened from between three and five years to 11 months but poor coordination between departments and districts may lengthen the process.

A representative of Thao Dien Real Estate JSC said the company has completed all procedures required by the relevant agencies. However, the land has not been handed over to the company to build a social housing project over the past 10 years.

Addressing the meeting, chairman of the HCMC Real Estate Association Le Hoang Chau suggested reducing investment license procedures to only four steps to save time and costs for businesses.

HCMC Chairman Nguyen Thanh Phong assigned the city’s Vice Chairman Le Hoa Binh with working with departments to help real estate firms resolve problems related to investment certificates, tax policies and house ownership certificates.

“The city will try to help 61 projects that are struggling to resolve their problems before April 15,” Phong stressed.

Going forward, the city will regard planning as a tool for construction management. The city will support the Department of Planning and Architecture and hire foreign experts to ensure proper planning.

According to Phong, the real estate sector contributes 8.2% to the city’s total revenues. Helping real estate businesses ride out difficulties is therefore vital for the city’s development.

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Deputy FM highlights growing cooperation in ASEM

March 1, 2021 by vov.vn

Since its establishment in 1996, ASEM has become the world’s largest inter-regional cooperation mechanism, with 53 states from the two continents. It has affirmed its important role in peace, security, stability, and prosperous development in both, making practical contributions to shaping major trends and the state of affairs around the world in the 21st century.

It has raised an important voice in maintaining peace, security, and stability as well as socio-economic governance in the region and the world. The spirit of dialogue and coordination in policy and action within the ASEM framework holds major significance, contributing to promoting peace and cooperation in building a rules-based world order.

The ASEM forum is entering a period of vigorous development to meet new requirements.

The Asia-Europe political dialogue should remain itself as the foundation for global peace and stability, dialogue promotion, trust building, preventive diplomacy, and the effective settlement of global challenges.

On the basis of ASEM cooperation, bilateral ties between Vietnam and other member countries have been enhanced and elevated.

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Fundraising on the up in consumer finance

March 2, 2021 by www.vir.com.vn

1533 p18 fundraising on the up in consumer finance
Black credits, such as from loan sharks, could be reduced significantly by promoting consumer finance, photo Le Toan

SSI Research has cited information from VPBank’s Board of Management that the due diligence process for FE Credit sale has been conducted. FE Credit, Vietnam’s largest consumer finance firm, is in negotiation with its potential partners, though the discussion progress is somewhat interrupted due to the pandemic.

However, VPBank expects the negotiation to be completed in the second quarter of 2021. If the two sides cannot reach a mutual agreement, VPBank would consider an initial public offering (IPO) for FE Credit by the end of this year.

Based on the two scenarios, SSI’s analysis team gave some assessment on the impact of the sale of FE Credit on VPBank’s consolidated financial statements. If VPBank sells a 49-per-cent-stake in FE Credit at a valuation of around four times compared to the book value, the bank can record an after-tax profit of VND21 trillion ($913 million).

According to Vietnamese accounting standards, if VPBank’s control over FE Credit is maintained by holding 51 per cent of stakes, profit from the above capital sale will not be recognised as revenue. Instead, it will be directly recognised in the retained earnings on the bank’s balance sheet.

With an additional $913 million in capital, VPBank will reduce the dependence on customer deposits, thereby reducing the average cost of capital. After the deal is completed, VPBank’s consolidated pre-tax profit is estimated to increase by VND800 billion ($34.8 million) compared to the scenario where there is no capital sale at FE Credit.

In 2020, FE Credit’s pre-tax profwas estimated to reach VND3.713 trillion ($161.43 million), down 16.3 per cent on-year, according to the latest report by VPBank.

Meanwhile, HD Saison – the consumer finance arm of HDBank and Japan’s Credit Saison – was previously greenlit to switch from a limited liability to a joint-stock company format. The firm is reportedly preparing for an upcoming IPO.

Last December, Credit Saison signalled its intention to expand its investment in Southeast Asia, especially Vietnam and Indonesia, with an initial commitment of around $9.6 million for local lenders. Credit Saison will finance such projects as lending to low-income borrowers and microenterprises in a practice known as impact investing.

Elsewhere, SHB Finance is actively promoting the non-cash payment economy by co-operating with MasterCard. By partnering with SHB Finance, MasterCard wants to provide the most up-to-date digitalised user experiences to customers. Simultaneously, the company would bolster access to modest-income earners. Do Quang Hien, chairman of SHB’s Board, also revealed that the consumer finance company is in the middle of negotiations with a foreign partner.

Hoang The Hung, deputy general director of Electricity Finance JSC, said that the company’s consumer loan disbursement balance in the past year reached VND1 trillion ($23 million), which failed to meet its target. The major reason lies in its strict loan disbursement to facilitate a better risk management mechanism.

Elsewhere, foreign-invested consumer finance companies are laying focus on diversifying disbursement loans approaches. New products introduced over the past year are presenting alternative options for a wider swath of both Vietnamese and foreign customers.

For example, Lotte Finance introduces credit cards in cooperation with other foreign banks such as NHB and KB. The firm also boasts several loans such as for cars and learning English with Jaxtina English Center.

Mirae Asset Finance, on the other hand, decided to follow through on a broad diversification strategy. The South Korean company offers cash and electronics loan for education and beauty purposes. The loan package for beauty purposes would capitalise on clients who want to undergo plastic surgery.

Home Credit, meanwhile, is creating new ways for the consumer finance industry by bolstering its insurance business to help customers alleviate the risks of permanent disability or death.

According to the State Bank of Vietnam (SBV), by the end of 2020, the scale of Vietnam’s consumer finance market came to around VND1.8 quadrillion (over $77.25 billion), accounting for over 20 per cent of outstanding loans in the economy, up 7.4 per cent compared to the end of 2019.

Dao Minh Tu, Deputy Governor of the SBV, emphasised in a conference in last month that promoting consumer finance and simplifying procedures for loan applications would be placed as top priority to abolish black credit.

In recent years, the SBV and credit institutions in localities have been coordinating with the Ministry of Public Security and local authorities in implementing drastic measures to limit black credit. The SBV will continue improving the awareness of locals about credit policies, loan packages, and procedures for loan applications so that people could easily access bank loans.

Meanwhile, the central bank will study and soon complete legal documents to deploy mobile money services in Vietnam while making loans from microfinance institutions easily accessible to citizens and then gradually limit black credit.

By Luu Huong

Filed Under: Uncategorized Consumer finance..., Consumer finance companies, FE Credit, Coverage, consumer finance gov, consumer finance santander, indiabulls consumer finance ncd, indiabulls consumer finance limited, about indiabulls consumer finance, caixabank consumer finance, consumer finance government, consumer finance company definition, synchrony consumer financing

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