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Vo Tri Thanh *Vo Tri Thanh Consumption – one of the key drivers of Viet Nam's growth in 2022 – is showing signs of deceleration. The General Statistics Office (GSO)'s data showed Viet Nam's total retail sales of goods and services in November increased 17.5 per cent year-on-year to an estimated VND514.2 trillion (US$20.9 billion) after a 17.1 per cent growth a month earlier which was the slowest pace since April. The latest figure marked the 12th straight month of expansion in the retail sector as consumption continued to rise despite ongoing cost pressure. Ending November, the total retail sales of goods and services leapt 20.5 per cent year-on-year to VND5.18 quadrillion ($219 billion) while it decreased 5 per cent in the same period of 2021; if excluding the price factor, the growth rate was just 16.9 per cent (down 6.8 per cent in the same period of 2021). However, the 11-month figure this year represented a 14.9 per cent increase compared to 11 months of 2019 – the … [Read more...] about Slower consumption and prospect of growth in 2023

MARD held a conference on the Partnership for Sustainable Agriculture in Viet Nam (PSAV) with the theme “Adding Green and Value to Agriculture” in Ha Noi on Monday. — Photo nguonluc.com.vn Promoting public-private partnerships will help improve sustainability in the agricultural sector, according to experts speaking at an event in Ha Noi on Monday. The expansion of the public-private partnership (PPP) model was essential to developing a green, innovative and value-added sector, while attracting investment capital from the private sector, as well as domestic and foreign enterprises, said Minister of Agriculture and Rural Development Le Minh Hoan. The minister was speaking at a conference on the Partnership for Sustainable Agriculture in Viet Nam (PSAV) with the theme “Adding Green and Value to Agriculture”, held by the Ministry of Agriculture and Rural Development (MARD). The Minister of Agriculture and Rural Development said that the new global economy required agricultural … [Read more...] about Promoting PPP cooperation to develop green agriculture

Students from the Viet Nam National University of Agriculture receive the AEON scholarships at a ceremony in Ha Noi on Tuesday. Since its establishment, the AEON 1% Club Foundation Scholarship has supported 8,000 students from 38 universities and colleges across Japan, China, Thailand, Viet Nam, Indonesia, Cambodia and Myanmar. — VNS Photo Linh Anh The AEON 1% Club Foundation granted 60 scholarships to Vietnamese university students at a ceremony on Tuesday. Yoshiki Mori, chairman of the AEON 1% Club Foundation, said the AEON 1% Club Foundation Scholarship was an allowance-based scholarship for university students in various Asian countries and self-financed Asian students studying in Japan. The project, designed to “Support the Dreams of Asian Students”, was started in 2006 in the hope that recipients will play an active role in the future, connecting their home countries with Japan in their respective specialist fields. In addition to year-round financial support, the project … [Read more...] about VN students receive AEON 1% Club Foundation Scholarship

IHG Hotels & Resorts and VietHarvest staffs join in the programme of reducing food waste. — Photo Courtesy IHG Hotels & Resorts IHG Hotels & Resorts has launched a partnership with VietHarvest to reduce food waste and feed communities most in need in Viet Nam. The organisations have joined forces to tackle the key issue of surplus food, educate communities on food security and sustainability, and provide meals for the underserved in Viet Nam. By supporting VietHarvest’s Food Rescue programme, IHG will prevent food from hotels going to waste and use it to feed a range of communities via a charity network starting in the Ha Noi area. This commitment will grow throughout its properties in Viet Nam, where it has 15 open hotels and 22 in a growing pipeline. IHG has also pledged funds to enable VietHarvest to expand logistics and operational support in Ha Noi, scale up food rescue and its charitable operations, and enable it to deliver more than 10,000 meals to … [Read more...] about IHG and VietHarvest co-operate to reduce food waste

A representative from Phenikaa Group (centre) at the award ceremony in Ha Noi last week. — Photo courtesy of Phenikaa Group Phenikaa Group and its subsidiary, Vicostone Joint Stock Company, have been honoured as two of the country's top 100 sustainable businesses in 2022. This is the fifth consecutive year Phenikaa have been named on the list and the seventh consecutive for Vicostone. The Corporate Sustainability Index Programme (CSI 100), organised by the Vietnam Business Council for Sustainable Development under the Viet Nam Chamber of Commerce and Industry in collaboration with the Ministry of Labour, Invalids and Social Affairs, Ministry of Natural Resources and Environment and the Vietnam General Confederation of Labour, has been known as one of the top prestigious awards to access the sustainable development of businesses in Viet Nam since 2016. Via a thorough assessment covering four areas; sustainable development, administration, environment and labour, the programme … [Read more...] about Phenikaa Group, Vicostone named in Top 100 sustainable businesses in VN

Clients apply for new bank loans at one of Agribank's offices in Ha Noi. — VNA/VNS Photo The State Bank of Vietnam has raised the domestic banking system’s credit growth by 1.5-2.0 percentage points from the previous 14 per cent limit on December 5. The central bank said local banks that meet liquidity requirements and offer low-interest rates for loans are qualified for the new policy, citing more favourable conditions and system-wide improved liquidity. Commercial banks were slashing interest rates in an attempt to bolster economic recovery and ease up pressure on consumers and businesses, according to SBV. Agribank, one of the largest banks in Viet Nam, said it has slashed VND2 trillion in interest rates alone since the beginning of the year for 2.2 million clients across the country. According to Agribank, businesses, cooperatives and household businesses will be entitled to a further 20 per cent interest rate cuts from now until the end of 2022. Vietcombank, one of … [Read more...] about Central bank to raise credit limit, banks slash interest rates