Tag: support

Hanoi plans to expand its urban railway network to around 20 lines, with a total length of more than 1,000 km.

WB has consistently been one of Vietnam’s largest international donors with 180 programs/projects totaling over $26 billion.

Prime Minister Pham Minh Chinh meets with a delegation from the Semiconductor Equipment and Materials International in Hanoi on November 6.

The capital city will fully support costs related to startup project selection, loan interest payments, credit guarantees, and the organization of ecosystem networking events.

These projects require a funding estimated at over $7 billion.

This is part of the new cooperation program between the two countries in the 2025-2028 period.

The Ministry of Industry and Trade introduces a new scheme to boost legal knowledge and empower smaller enterprises often overlooked in Vietnam’s economic landscape.

Mr. Choi Joo Ho, General Director of Samsung Vietnam, told the Multilateral Forum (MSF) 2022 on improving Vietnam’s position in global value chains, held on October 19, that the country holds many advantages in this regard, such as a dynamic economy and expanding consumer market. To use these advantages, it is necessary to expand participation in global supply chains by promoting supporting industries.

The Hanoi People’s Committee has issued a plan called “Supporting digital transformation for SMEs in the 2021-2025 period”, under which it will spend over VND300 billion ($12.6 million) on supporting digital transformation efforts at 90,000 small and medium-sized enterprises (SMEs) and new businesses. The plan sets out six tasks and solutions, including training in digital transformation and human resources development for SMEs.

At the “Business Contact and Dialogue in 2022” conference held recently by Ho Chi Minh City, analysts said that businesses have only now entered into a period of recovery following Covid-19 and need more support to address ongoing difficulties. It is especially necessary to reform administrative procedures to improve the investment environment and the quality of urban administration.

By August 19, eight days after implementation began, the VND1.1 trillion ($47 million) package from the Unemployment Insurance Fund to assist workers has helped more than 298,000 workers. The amount spent stands at nearly VND845 billion ($36 million), or 72 per cent of the plan.

Hanoi has approved support in elementary-level training of less than three months for eleven groups of workers in 78 occupations in the 2022-2025 period. Four groups receiving vocational training will receive support to cover training costs. The capital has set a target of training more than 21,000 people at the primary level for less than three months by the end of 2022, of which more than 9,000 will be trained in non-agricultural occupations and more than 12,000 in agricultural occupations.

In a phone conversation with the Deputy Managing Director of the International Monetary Fund (IMF) Antoinette Monsio Sayeh on May 16, Prime Minister Pham Minh Chinh, who is in the US on a working visit, asked that the IMF support and advise Vietnam in areas such as capital market development; inflation control; logistics development; technological innovation and digital transformation; supply chain diversification; combatting climate change; and energy conversion. Ms. Sayeh affirmed that the IMF is ready to support Vietnam.

Vietnamese Government keen to continue its support in South Korean giant’s future investments.

The Covid-19 pandemic is expected to persist for a long period of time, and what businesses need is support in terms of material costs, simplifying procedures, shortening the time to resolve procedures, and facilitating production and business activities.

The Mekong Delta has the highest aging rate in all of Vietnam. Its enterprises also exhibit quite low business efficiency. They therefore need support not only financially but especially in sustainable recovery policies post-pandemic.

The Danish Statistical Office (Denmark Statistics) and the General Statistics Office of Vietnam (GSO) signed an agreement on November 26. Denmark will provide DKK6.5 million (about $1 million) to help Vietnam compile complete and reliable official statistics under international standards.

Banks have cut interest rates in recent times as part of supporting businesses and individuals to overcome the effects of Covid-19 on their financial position. In addition to restructuring repayment terms on VND550 trillion ($22.27 billion) worth of loans, banks have also exempted or lowered interest rates totaling VND31.4 trillion ($1.4 billion).

The Central Relief Committee has decided to allocate VND1 billion ($41,970) each to 12 provinces and VND1.5 billion ($66,000) each to the Mekong Delta provinces of Bac Lieu and Ben Tre to support pandemic prevention efforts. An additional VND500 million ($22,000) donated by the overseas Vietnamese community was transferred to Ha Tien City in the Mekong Delta’s Kien Giang province.

Cash support policies in 2021 have largely ignored disadvantaged groups. To achieve the goal of “Social Security for the entire population”, according to analysts, Vietnam needs to stipulate a minimum budget allocation for Social Security, which could be from 6 to 10 per cent of GDP.