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May 23, 2023 / 14:10

Vietnam News Highlights for May 23, 2023

Stay up to date with the latest events in Vietnam.

UK financial institution invests $15 million in Southeast Asia's energy transition

A wind power farm in Ninh Thuan Province. Photo: Khac Kien/The Hanoi Times

On May 22, British International Investment (BII) pledged US$15 million to the SUSI Asia Energy Transition Fund (SAETF), managed by Swiss-based SUSI Partners, marking the beginning of its plan to invest up to US$622.3 million in climate finance for Southeast Asia.

SAETF targets renewable energy, energy efficiency, and energy storage projects in emerging economies in Southeast Asia, including Indonesia, Vietnam, and the Philippines. The investment aims to support sustainable economic growth in the region and attract other commercial investors to channel climate finance opportunities.

Vietnamese students win awards at international science fair

Two projects by Vietnamese high school students won awards at the Regeneron 2023 International Science and Engineering Fair (ISEF) in Dallas, Texas. One project, which focused on the pharmacological effects of fruit and leaf essential oils, won third place in the computational biology and bioinformatics category, while another project, a quadruped robot model for search and rescue in landslide-prone areas, received a special award from the US Agency for International Development.

The ISEF is the world's largest global science competition for high school students, with 1,800 students from 80 countries participating this year.

Vietnam’s national brand value growth tops the world in 2019-2022

Deputy Prime Minister Le Minh Khai on May 22 announced that Vietnam’s national brand value was the fastest-growing in the world during 2019-2022, with a total growth rate of 74%. Vietnam also ranked 32nd of the 100 best national brands globally.

In 2022, Vietnam posted an 8.02% GDP growth rate and a 3.15% CPI increase rate. Total State budget income reached VND1.8 quadrillion (US$77.4 billion), and export turnover rose 10.5% on-year to US$371.3 billion. Vietnam has received good ratings from three international agencies Moody’s, S&P and Fitch, and is considered a highlight in the world’s gloomy economy.

Vietnamese trade value slips in May

Vietnam’s total trade value in the first half of May (May 1-15) fell by US$2.89 billion intermonthly and US$4.45 billion year-on-year to US$23.89 billion, according to the General Department of Vietnam Customs. The figure included exports worth US$11.45 billion. As of May 15, Vietnam recorded a total trade value of US$230.58 billion, down nearly US$40 billion year-on-year.

The country saw declines in key exports such as smartphones and smartphone components, computers, electronics and spare parts, textiles and garments, and footwear.

Female World Cup 2023 to be broadcast live in Vietnam

Vietnamese supporters can watch the FIFA Women’s World Cup 2023 live on television after a local broadcaster has gained broadcasting rights for the tournament. The announcement of the deal is scheduled on May 25.

The month-long tournament will be held in Australia and New Zealand from July 20 to August 20. Vietnam's women's national soccer team, in its first appearance at the tournament, will face the USA, Portugal and the Netherlands in Group E for a ticket to the next stage.

Nearly a ton of drugs seized in two years

A total of 931.5 kilograms of illegal drugs have been seized in the past two years, Hanoi police said on May 22. Local authorities have also solved 35 cases and arrested 57 suspects during the period. Since the beginning of the year, local police have seized nearly 660 kilograms of smuggled drugs and jailed 29 suspects.