Vietnam news in brief - December 14
Find the latest stories about Vietnam.
Vietnam offers US$600,000 in new earthquake relief aid to Syria
The Vietnam Red Cross Society will send another US$600,000 to help Syria cope with the aftermath of the February earthquake, bringing the total aid from the Vietnamese Government and people to the Middle Eastern country to about US$900,000, Foreign Minister Bui Thanh Son told his Syrian counterpart Faisal Al-Mikdad during their telephone conversation on December 13.
Vietnam among world’s top 50 emerging logistics markets
| Vietnam ranks 10th among the world’s top 50 emerging logistics markets. Photo: Dinh Vu Port |
Vietnam ranks 10th among the world's top 50 emerging logistics markets, up one spot from last year, according to the 2023 Emerging Markets Logistics Index released by Agility, a transportation and logistics services provider. The industry is projected to achieve a compound annual growth rate (CAGR) of 5.5% from 2022 to 2027.
State-owned banks announce savings rate cuts
The four large State-owned commercial banks, including Vietcombank, BIDV, Agribank, and Vietinbank, have cut their savings rates by 0.4% to 0.6% per year. After the cuts became official on December 13, the savings rates of the four institutions ranged from 2.2% per annum to 5.5% per annum for all maturities. Compared to the same period last year, savings rates at the "big four" have fallen by 2-3%. Those recent moves are expected to encourage others to reduce their savings rates.
Vietnam-funded military facility opens in Cambodian Province
A Vietnamese-Cambodian military facility was inaugurated on December 13 in the local province of Rattanakiri. The construction of the VND15-billion (US$620,000) building is funded by the Vietnamese Ministry of National Defense, and the opening ceremony is part of the first ministerial-level meeting between Vietnam, Laos, and Cambodia in 2023.
Competition promotes plastic pollution reduction
The Competition for Green Consumer and Plastic Pollution Reduction Initiatives honored outstanding works from more than 50 submissions and presented awards to the winning participants at the award ceremony organized by the Ministry of Natural Resources and Environment in cooperation with the World Wide Fund for Nature (WWF) Vietnam on December 13 in Hanoi. This is part of the "Vietnam's Plastic Waste Reduction" program, which has been implemented in nine provinces and cities since 2020.
Nearly 70% of companies opt for staff cuts when facing difficulties
In 2023, nearly 70% of businesses will choose layoffs during adversity, followed by a hiring freeze, according to the latest survey conducted by Navigos Search. The findings were presented in the 2024 Salary and Labor Market Report, based on a survey conducted by Navigos Search in the third quarter of 2023, involving 550 companies and over 4,000 job seekers across 23 industries in six localities: Haiphong, Hanoi, Danang, Binh Duong, Dong Nai, and Ho Chi Minh City.
Loc Troi Group reports three new Vietnamese records in rice farming
Loc Troi Group, Vietnam's largest agricultural company, announced three new national records at the Vietnam - Hau Giang International Rice Festival 2023 on December 13. The company was recognized as the first company to receive the Sustainable Rice Platform (SRP) certificate for four consecutive years.
Loc Troi Group was also recognized for having the most SRP Authorized Trainers, with 125 people and for having the largest rice cultivation area in Vietnam (256,000 hectares). To date, the company has achieved four Vietnamese records.
FPT's automotive software company established in the US
| The ceremony is attended by FPT executives, customers, partners, and representatives from the Consulate General of Vietnam in Houston. Photo: FPT |
On December 14, FPT announced the creation of its technology subsidiary - FPT Automotive, headquartered in Texas, the US, to address the multi-billion dollar automotive software market. FPT Automotive aims to become a leading provider of software services and products for the automotive industry, with a target value of $1 billion by 2030. The company will focus on key markets, including the US, Europe, Japan, South Korea, China, and Vietnam.
