Illustrative image (Source: VNA) Binh Duong (VNA) – A World Bank (WB)’s technical working group led by water resources management expert Abedalrazq Khalil held a working session with authorities of southern Binh Duong province on October 13 to discuss a project on wastewater drainage and treatment in Di An town. At the event, Khalil asked the provincial authorities to step up the progress of bid invitation approval and estimate of ongoing tender packages, as well as properly allocate capital for implementation of the packages. Vice Chairman of the provincial People’s Committee Tran Thanh Liem said his province always prioritises investing in wastewater treatment projects. Agreeing with requests of the WB delegation, he said that the provincial Department of Construction and Binh Duong water supply and drainage company will accelerate … [Read more...] about WB delegation discusses wastewater treatment project in Binh Duong
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Vietnam collects nearly 1.1 trillion VND in forest environment fees
Locals and rangers in the Chu Yang Sin forest, Dak Lak (Source: VNA) Hanoi (VNA) – Vietnam has collected nearly 1.1 trillion VND (48.4 million USD) from forest environment service fees from water suppliers, hydropower companies and tourist agencies, accounting for 66.3 percent of the yearly plan, the Ministry of Agriculture and Rural Development (MARD) said. The figure is expected to increase from the estimated 1.2 trillion VND (52.8 million USD) in 2017 to 2 trillion VND (88 million USD) in 2018 as forest service fees will be raised for hydroelectricity companies. MARD Minister Nguyen Xuan Cuong has directed the Vietnam Administration of Forestry (VAF) to review collection from forest service fees and have rational investment, especially in Muong Nhe (Dien Bien), Central Highlands and mangrove forest. The Prime Minister has decided to allocate over 1.2 trillion VND (52.8 … [Read more...] about Vietnam collects nearly 1.1 trillion VND in forest environment fees
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City needs over 150 mln USD to become climate change resilient
A street in Vi Thanh city (Source: vithanh.haugiang.gov.vn) Hau Giang (VNA) – Vi Thanh city in the Mekong Delta province of Hau Giang is in need of over 3.3 trillion VND (150 million USD) to build infrastructure to enhance its resistance against climate change, said Nguyen Van Hoa, Chairman of the municipal People’s Committee. Hoa made the statement at a working session with a World Bank (WB) delegation on October 9. As the administrative and economic centre of the province, Vi Thanh city has been seriously hit by flooding and saline intrusion as a result of climate change. According to Vu Thi Phuong Linh, an WB urban development expert, apart from Vi Thanh, the WB is working with authorities of six other Mekong Delta cities – Soc Trang, Bac Lieu, Tan An, Long Xuyen, and Vinh Long – to build and carry out a project on improving … [Read more...] about City needs over 150 mln USD to become climate change resilient
Eased restrictions on labour migration can boost welfare, integration: WB
Illustrative image (Photo: VNA) Hanoi (VNA) – The World Bank (WB) released the “Migrating to Opportunity” report via a teleconference with Vietnam on October 9, saying that easing restrictions on labour migration can boost workers’ welfare and deepen regional economic integration. Introducing the report, Sudhir Shetty, WB Chief Economist for the East Asia and Pacific region, said: “With the right policy choices, sending countries can reap the economic benefits of out-migration while protecting their citizens who choose to migrate for work. In receiving countries, foreign workers can fill labour shortages and promote sustained economic growth, if migration policies are aligned with their economic needs.” According to the report, Vietnam will need to evaluate its current policies for incentivizing out-migration to determine whether they are meeting … [Read more...] about Eased restrictions on labour migration can boost welfare, integration: WB
EVN, World Bank promote gender equality
Illustrative image (Source: VNA) Hanoi (VNA) – The Electricity of Vietnam (EVN) group and the World Bank (WB) organised a technical discussion in Hanoi on October 6 to highlight the importance of gender equality in Vietnam’s energy sector. Speaking at the event, Khuat Quang Mau, Chairman of EVN Trade Union, said the group is committed to promoting gender equality and providing a working environment that is beneficial and rewarding for female and male employees alike. The commitment will help EVN meet its goals for productivity, skills and customer service, by ensuring that all employees, regardless of gender, can develop their talents and perform to their fullest capacity, Mau added. Among main activities under the joint EVN – WB project is the launch of a new leadership programme for women, designed to enhance women’s capacity to advance … [Read more...] about EVN, World Bank promote gender equality
HSBC raises 2017 growth forecast for Vietnam, WB projects slight expansion
HSBC has revised up its growth forecast for Vietnam this year to 6.6 percent following record growth in the third quarter, while the World Bank estimated that growth will accelerate slightly from last year to 6.3 percent. The forecasts came days after data from the General Statistics Office showed the Vietnamese economy expanded 7.46 percent in the third quarter compared to the same period last year, its strongest third quarter growth since 2010. HSBC said in a recent statement that the July-September growth was “surprising”. The bank had lowered its growth forecast for Vietnam from 6.4 to 6 percent in July after the economy hit a three-year low of 5.2 percent growth in the first quarter. This robust growth has been fueled largely by exports of Samsung cellphones and other electronic products, analysts said. It has driven overall growth for the first nine months to 6.41 percent, the highest since 2015 but still below this year’s target of 6.7 percent, … [Read more...] about HSBC raises 2017 growth forecast for Vietnam, WB projects slight expansion
WB report: Vietnam’s economy continues to show fundamental strength
Illustrative image (Source: VNA) Hanoi (VNA) –Vietnam’s economy continues to show fundamental strength, according to the East Asia-Pacific Economic Update released by the World Bank via a teleconference connecting regional countries, including Vietnam, on October 4. The report said Vietnam’s medium-term outlook remains positive. Real gross domestic product growth is projected to accelerate slightly to 6.3 percent in 2017, underpinned by buoyant domestic demand, rebounding agricultural production, and strong export-oriented manufacturing, aided by a recovery in external demand, which will be partially offset by declining oil production. The current account is expected to remain in surplus, albeit at a lower level as stronger import growth resumes. Over the medium term, growth is projected to stabilise at around 6.4 percent in … [Read more...] about WB report: Vietnam’s economy continues to show fundamental strength
World Bank upbeat about Indonesia’s economic prospects
A corner of Jakarta. The World Bank (WB) has forecast that the Indonesian economy will remain strong and record a growth rate of 5.1 percent in 2017. (Photo: thejakartapost.com) Jakarta (VNA) – The World Bank (WB) has forecast that the Indonesian economy will remain strong and record a growth rate of 5.1 percent in 2017 and 5.3 percent in 2018. In the WB’s Quarterly Economic Report, World Bank Country Director for Indonesia Rodrigo Chaves said that Indonesian economy can still grow more optimistically, spurred by such factors as conductive external environment, strong economic fundamentals and progress in structural reforms. "The basics to boost the Indonesian economy are good policy reform, strong domestic demand, and contribution from the external environment," he said. The WB official also noted that household consumption will grow stronger and … [Read more...] about World Bank upbeat about Indonesia’s economic prospects
WB, Vietnam publish joint Vietnam Public Expenditure Review
Overview of the launching ceremony of the “Vietnam Public Expenditure Review (PER): Fiscal Policies towards Sustainability, Efficiency, and Equity” (Source: vov.vn) Hanoi (VNA) - The World Bank and the Government of Vietnam on October 3 launched a joint report titled “Vietnam Public Expenditure Review (PER): Fiscal Policies towards Sustainability, Efficiency, and Equity”. The main purpose of the assessment is to inform fiscal policy decisions and reform action plans of the Government, particularly in meeting growth, poverty reduction, and global integration objectives. The PER was undertaken by relevant agencies of the Government of Vietnam, led by the Ministry of Finance in collaboration with the Ministries of Planning and Investment, Education and Training, Health, Science and Technology, Agriculture an Rural Development, and Transport, … [Read more...] about WB, Vietnam publish joint Vietnam Public Expenditure Review
WB releases report on expanding opportunities for the urban poor
WB Vice President for the East Asia-Pacific Victoria Kwakwa (Source: VNA) Hanoi (VNA) – The World Bank on October 3 announced its report “Expanding Opportunities for the Urban Poor” through a video conference connecting its offices in East Asian-Pacific countries, including Vietnam. Speaking at the event, WB Vice President for the East Asia-Pacific Victoria Kwakwa said the common challenge is how to bring opportunities to people in cities, from migrant workers living in the suburbs to underpaid workers in factories, so that they could benefit more from urbanisation and contribute to stronger growth. WB urban development expert Judy Baker, author of the report, said rapid urbanisation poses both challenges and opportunities, adding that measures to improve urban inclusion are practical, effective and necessary. The report said … [Read more...] about WB releases report on expanding opportunities for the urban poor
