Shanghai achieved on Tuesday the long-awaited milestone of three consecutive days with no new COVID-19 cases outside quarantine zones but most residents will have put up with confinement for a while longer before a return to more normal life. For other cities in China that have been under lockdown, a third day with no new cases in the community usually means "zero COVID" status and the beginning of the lifting of restrictions. The commercial hub of 25 million set out on Monday its clearest timetable yet for exiting a lockdown now in its seventh week, but the plan was met with scepticism by many residents who have seen isolation extended time and again. Shanghai plans to resume outdoor activities in stages, with some convenience stores and pharmacies reopening this week, but with most restrictions on movement remaining in place until May 21, after which public transport and other services will resume gradually. By June, the lockdown should be lifted, but residents will still be … [Read more...] about Shanghai achieves ‘zero COVID’ status but normal life is weeks away
Week away
Avoid unworthwhile investments, try estate taxes, Vietnam advised
At a Saturday conference in Harvard University on Vietnam's development strategy in the 21st century, Prime Minister Pham Minh Chinh said Vietnam's economy has expanded into the fourth largest economy in ASEAN and among the world's top 12 economies with the largest scale of commerce. The country also takes part in 15 active FTAs, he said. Economist David Dapic said Vietnam taking part in FTAs was a major success. Millions of farmers have moved on to work in factories as a result. But the fact that most materials for production are imported from China is a weakness, he added. When the Covid-19 pandemic broke out, borders were closed and there was commercial tension, Vietnam's exports were affected, Dapic said. Vietnam's trade turnover with the U.S. may reach $100 billion this year. Such a figure might be small for the U.S., but Vietnam should take note to remain in constant communication and avoid being accused of currency manipulation, he advised. Nguyen Thi Hong, head of the … [Read more...] about Avoid unworthwhile investments, try estate taxes, Vietnam advised
HCMC takes belated steps to sort out skyscraper mess
Experts say such tight restrictions should have been imposed long ago to avoid the current mess and chaos on many roads. Cars and motorbikes crowded Pho Quang Street in Tan Binh District on Tuesday morning last week, dragging themselves sluggishly towards the downtown area. The road, an entrance to the Tan Son Nhat Airport, is just two kilometers long and only eight meters wide. Yet there are 15 skyscrapers lining it, with tens of thousands of apartments, hotels and offices. The largest project on the street is an apartment complex with four blocks and 16 floors, hosting around 500 apartments. It has been open for about five years. There are other complexes with 8-10 floors and a hospital, so the street is always crowded. It gets hellish during rush hours. Pho Quang isn’t the only street plagued by quickly rising skyscrapers and infrastructures that can’t keep up with them. Nguyen Huu Tho, Nam Ky Khoi Nghia, Nguyen Thi Minh Khai and Mai Chi Tho are a few more examples. HCMC … [Read more...] about HCMC takes belated steps to sort out skyscraper mess
Reset required for supply chain woes
Container scarcity, input material price rises, and travel restrictions are just some of the factors damaging supply chains, Photo: Le Toan Demonstrating the wide reach that geopolitical tensions and the drag from global supply chain disruptions are causing worldwide, lowered prospects for mergers and acquisitions (M&As) in Asia-Pacific are being projected for the rest of the year, after the number of such deals fell in the first several months of 2022. A total of 123 finance sector M&A deals were reported in the January-to-March quarter, compared with 165 in the same period of last year, S&P Global Market Intelligence data shows. The ongoing conflict in Ukraine, supply chain bottlenecks, and inflation concerns slowed down deal-making in the first quarter. “We expect to see deals start and stop as companies try to time when best to take the plunge,” said Sophie Mathur, partner and Asia head of corporate at law firm Linklaters. Despite the emerging opportunities, … [Read more...] about Reset required for supply chain woes
Vietnam National University moved to Hanoi’s outskirt
The Vietnam National University's Hoa Lac campus is ready with all facilities and equipment for educational and research activities. The Vietnam National University (VNU)’s headquarter has been relocated to its newly built campus in Hoa Lac on Hanoi's outskirt this week. The campus is expected to be the most modern and advanced university town in Southeast Asia. Planned to cover about 1,113.7 hectares, the campus includes the Polytechnic School, a research center, and offices of the management board. Built with a total investment of VND22 trillion (nearly US$950 million), the college town consisting of nine member universities, eight institutes, 13 research centers, and four specialized high schools will provide training for more than 41,000 students. A bird's eye view of the Center for Library Information and Digital Knowledge in the VNU-Hanoi campus in Hoa Lac. Photo: VNU Currently, the VNU-Hanoi student population on the Hoa Lac campus has numbered … [Read more...] about Vietnam National University moved to Hanoi’s outskirt
Lifebuoys available on rivers to prevent drowing
A member of the Khám Phá (Discovery) Swimming Club places a lifebuoy on the Chương Dương River in Hà Nội with the hope of rescuing drowning people. Photo courtesy of Nguyễn Ngọc Khánh HÀ NỘI — Tens of red and white lifebuoys have recently been hung on Long Biên Bridge crossing the (Hồng) Red River in the capital city of Hà Nội by a group of volunteers in the hope of saving drowning victims. On each lifebuoy, the volunteers wrote 'For rescuing people'. Other bridges crossing the Red River such as Thăng Long, Nhật Tân, Chương Dương, Vĩnh Tuy and Thanh Trì have also been equipped with the lifebuoys. Placing lifebuoys along the bridges is part of the volunteering activities of the Khám Phá (Discovery) Swimming Club led by a 35-year-old man, Nguyễn Ngọc Khánh. The activity started in April and will continue along bridges in six localities from the northern Lào Cai to Thái Bình provinces. On May 14 in Hà Nội, 20 volunteers, mainly parents of children in Khánh's free swimming … [Read more...] about Lifebuoys available on rivers to prevent drowing