Remittances

Liem also revealed that Vietnamese migrant workers mainly operate in fields such as construction, manufacturing, nursing, cleaning, agriculture, and fisheries, with the majority going to markets such as the Republic of Korea, Japan, Taiwan (China), the Middle East, and Malaysia. Most notably, the number of Vietnamese labourers working abroad has steadily increased each year, especially over the last five years which has seen an annual rise of approximately 10,000 people. He went on to reveal that the department has initiated plans to send roughly 90,000 Vietnamese workers abroad in 2021, with between 120,000 and 150,000 workers a year in the future. In order to achieve this goal, it is necessary to continue building and fine-tuning the legal system regarding migrant workers, while stepping up international cooperation by stabilizing and developing traditional overseas labour markets with a major focus on jobs that ensure good working conditions, safety and high income for … [Read more...] about Remittances from Vietnamese migrant workers reach US$4 billion annually

They benefited from a particular segment auto loans. The 50 percent cut in car registration fees in the second half of the year sparked a rush to borrow to buy vehicles. VIB’s interest income in the third quarter was up 38 percent, and the fourth quarter saw probably more of the same. Income for the first nine months rose by 30 percent. TPBank’s interest income too rose by almost 30 percent. … [Read more...] about The great banking profit paradox of Covid-hit 2020

HCM City (VNA) – Ho Chi Minh City has achieved its “dual goal” of containing the COVID-19 pandemic and reviving the economy, Nguyen Thanh Phong, Chairman of the municipal People’s Committee, told a recent meeting. Speaking at a meeting held on January 9 to discuss the city’s socio-economic development plans for 2021, Phong said the city was able to contain the virus while achieving economic growth of 1.39 percent, and all sectors managed to achieve growth. Despite the challenges caused by the pandemic, its revenues topped 371.3 trillion VND (16.1 billion USD) or 91.51 percent of the target, he said. Exports were worth more than 43 billion USD, foreign investment exceeded 4.3 billion USD and remittances were worth more than 5.5 billion USD. More than 40,000 new businesses were established with a total registered capital of more than 1.1 million VND. Some 8,300 resumed operations after suspending business due to the pandemic. The city has been able … [Read more...] about Virus containment, growth goals achieved: HCM City chief

A group from the HUST spent a month during Hanoi’s social distancing period to research and design BK-Vent, a ventilator which has breathing support functions for Covid-19 patients that meet standards set by the Health Ministry and the Association for Advancing Safety in Health Technology. The most basic principle of this ventilator is that the machine supplies air containing oxygen to patients’ lungs, because Covid-19 patients have trouble breathing. … [Read more...] about VIETNAM NEWS JANUARY 12

Kwakwa also said that Vietnam needs to emphasise skill development and R&D capacity building as well as make significant changes in institutional reform. In skill development, it would be important to focus on those that increase participation in the value chain and lift the current limits of the manufacturing sector and elevate it to advanced services. In addition, the World Bank’s vice president for the region said that the country needs to pay due attention to R&D and the protection of intellectual property rights to prepare for a gradual transition to innovation activities, which represents the ultimate level of participation in the global value chain. … [Read more...] about VRDF highlights advantages of value chain development