The WB's credit aims to spur green and digital development in Vietnam.

World Bank supports Vietnam's inclusive and sustainable recovery

The World Bank Board of Directors approved a US$263.9¬-million International Development Association credit for Vietnam on June 19, aimed at bolstering the country’s efforts to achieve an inclusive, green, and digitally-driven economic recovery with reforms aimed at supporting households, businesses, and expansion of renewable energy.

This credit marks the second and final installment in a Development Policy Financing (DPF) series of two operations, following a US$221.5 million operation approved in 2021.

While the impact of this operation is expected to fully materialize by 2024, the DPF series has already supported significant achievements. More than 140,000 businesses received tax support through a tax relief package in 2021. More than 85,000 children have received subsidized childcare, which has promoted gender equality in the workplace. Government services available online have doubled.

Going forward, the institutional and policy reforms supported by this operation will facilitate business recovery by enhancing the tax environment, supporting the financial inclusion of vulnerable households, and increasing access to quality childcare services.

To spur green and digital development, the reforms supported by the DPF focus on procurement, digitizing public administration, scaling up renewable energy, and bolstering the financial sustainability of the power sector. Moreover, reforms supported by this operation are expected to further improve public service delivery to households and businesses, cited VOV.

“Reforms supported by this credit will strengthen Vietnam's ongoing recovery from the COVID-19 pandemic and subsequent commodity price shocks, while paving the way for more inclusive, greener, and digital-friendly development,” said Carolyn Turk, World Bank Country Director for Vietnam.

“We look forward to working with the government to implement these reforms and support Vietnam to achieve its development goals”, she added.

Border provinces’ courts tighten cooperation with Chinese counterparts

The first conference of People’s Courts of provinces that share the Vietnam-China border took place in Nanning, the Guangxi Zhuang Autonomous Region of China, on June 30.

Chief Justice of the Supreme People's Court Nguyen Hoa Binh, and the chief judges of the People's Courts of seven provinces bordering China attended the event.

Chief Justice of the Supreme People's Court Nguyen Hoa Binh and President of the Supreme People's Court of China Zhang witness the signing ceremony of the Memoranda of Understanding on cooperation between the Court of the Guangxi Zhuang Autonomous Region and the People's Courts of Vietnam's Lang Son province. (Photo: VNA)

Speaking at the event, Binh said that the conference offered opportunities for border provinces of Vietnam and China to share experiences in the fight against cross-border crimes and settlement of civil disputes, and enhance coordinate to better implement the 1998 Agreement on Mutual Legal Assistance Agreement in Civil and Criminal Matters between the two countries.

The provinces’ courts will also establish and further strengthen the cooperation relationship with Chinese courts, according to VNA.

Main topics at the conference were the application of information technology in court, the cooperation between provincial-level courts of border provinces of the two countries, and the transfer of procedural documents related to criminal cases and cross-border civil disputes.

Currently, the areas along the border between Vietnam and China are seeing complicated development of transnational crimes such as drug-related crimes, human trafficking, smuggling, and illegal entry and exit, which requires the competent agencies of the two countries, including courts, to strengthen the cooperation in dispute settlements and crime prevention and control.

Vietnam and China share a border of almost 1,450 km, including 1,065.6 km on land and 383.9 km over water. It traverses seven Vietnamese provinces - Dien Bien, Lai Chau, Lao Cai, Ha Giang, Cao Bang, Lang Son, and Quang Ninh - and China’s Yunnan province and Guangxi Zhuang Autonomous Region.

Vietnam rejoins Asia's top 15 teams in latest FIFA rankings

The Vietnamese national men’s football team rejoined the top 15 teams in Asia and remained at 95th position globally in the latest FIFA rankings released on June 29.

The recent 1-0 wins over both Hong Kong (China) and Syria in friendly matches played in June helped Vietnam gain a further 8.54 points to take 95th place in the FIFA rankings with 1,238.23 points.

Other countries such as Armenia and the Republic of Guinea leaped up in the world rankings, meaning Vietnam maintained its spot at 95th place in the globe.

In terms of the Asian rankings, Vietnam climbed a further place and was back into the top 15. Palestine dropped down to 16th position in the region after falling from 93rd to 96th place in the world.

Most notably, the Vietnamese national team continued to lead the Southeast Asia region, followed by Thailand, ranked 113rd globally, the Philippines at 135th, Malaysia at 137th, and Indonesia down at 150th.

Argentina topped the world rankings with a total of 1,843.73 points, with France and Brazil in second and third positions, while England rank fourth, reported VOV.

Photo: VOV

By being ranked among the world’s top 100 and Asia’s top 20 teams, the Vietnamese national team won’t need to take part in a play-off round to progress through to the group stage of qualifiers for both the 2026 FIFA World Cup and the 2027 AFC Asian Cup.

All 36 teams in the region are set to be divided into nine groups, with the best two teams making it through to the third qualification round of the Asian region for the 2026 FIFA World Cup and making the finals of the 2027 AFC Asian Cup.

In line with this, the Vietnam national team is scheduled to compete in World Cup qualifiers from mid-November to June, 2024.

Green Consumption and online shopping boom in Vietnam

Consumers were increasingly attaching importance to sustainability over time, said Dang Thuy Ha, northern director of NielsenIQ Vietnam, at a recent event in Hanoi.

The June 28 event titled "Vietnam Consumer Trends Forum 2023: Trends and Retail Market", was held by the Institute for Brand and Competitiveness Strategy (BCSI).

Important factors when consumers choose a brand were reasonable price, safety and hygiene, good for health, reliable brand, sustainability and eco-friendliness, said Ha.

55% of consumers surveyed by NielsenIQ Vietnam in 2023 appreciate the sustainability factor in consumption.

As proof, Ha said that 49% of consumers brought their own bags or use recycled bags when shopping.

47% only buy essentials and avoid waste. 45% are conscious of saving electricity at home and 45% sorting recyclable waste.

Specifically assessing from separate research on consumers in Hanoi and HCM City, Trinh Nguyen Ngoc Linh, Senior Manager of Intage Vietnam Project, said that 95% of consumers in these two big cities have an awareness of environmental protection.

59% of consumers choose to eat green vegetables and grains more often.

The Women's Union of Phu Quy district presents eco-friendly biodegradable plastic bags to sellers at Tam Thanh Market, Phu Quy island, the southern province of Binh Thuan. (Photo: VNA)

61% prioritise making use of natural light as much as possible, 44% reuse old clothes instead of buying new ones unnecessarily.

This study also shows that consumer segments are aware of green consumption, in which 24% said living green to save, 22% green consumption to focus on health; and 9% accompanied the trend.

Do Van Viet, representative of the Vietnam E-commerce Association (Vecom), said that more and more consumers choose e-commerce as a regular shopping channel because of its multi-faceted convenience.

Currently, e-commerce in Vietnam is developing rapidly with a double-digit growth rate per year.

More and more businesses and sellers are turning to e-commerce to reach consumers, especially on channels such as social networks and artificial intelligence.

Citing the example of Bac Giang provincial Youth Union selling lychees on TikTok Shop Vietnam, Viet said that many live stream sales sessions in just a few hours could sell tonnes of lychee with thousands of orders.

"Businesses need to grasp trends, have solutions to access e-commerce channels and need to deploy multi-channels to create many touch points with customers," he recommended.

Emphasising digital transformation solutions to bring agricultural products closer to consumers, especially young consumers, Dr. Vo Tri Thanh, Director of the Institute for Brand and Competitiveness Strategy (BCSI), said that the leading role was a very important need in the transformation; at the same time, digital transformation needed to be tied to the real world, the real strategy of the business could be successful.

In addition, thanks to the "online shop" developed in the digital environment such as Tik Tok, Facebook, thousands of households making agricultural products from mountainous areas such as Lang Son and Lao Cai provinces have sold hundreds of orders just through “livestreams”.

“Thanks to the new business models that digital transformation brings, there are aspects of business that can caught up. Although it may be expensive in the medium term, in the long term, digital transformation brings great economic benefits to the Vietnamese retail market,” said Thanh.

Suggesting for manufacturing and retail businesses, Dang Thuy Ha, northern director of NielsenIQ Vietnam, offers short, medium and long-term solutions.

That was developing a new retail model associated with green product experience, establishing clubs for sustainable consumers, awarding points for buying sustainable products, she added.

She also suggested businesses replace or reduce plastic in packaging; develop carbon-neutral factories and farms; use electric vehicles, and develop regenerative agriculture.

At the event, Nguyen Minh Tien, Director of the Trade Promotion Centre for Agriculture under the Ministry of Agriculture and Rural Development, shared, recently, the trend of safe food of natural origin and environmental friendliness has become popular and become a modern consumption. This is an inevitable trend not only in Vietnam but all over the world.

Facing the trend of consuming safe products, especially organic products with sales in Vietnam reaching 208 billion USD last year, Tien recommended solutions in which authorities need to control the quality of agricultural products on the market, improve the effectiveness of consumer protection; promote information and communications so that clean producers can see the value of standard production, and consumers understand the value of clean agricultural products; especially need to improve agricultural production capacity to meet market demand.

Vietnam named among 10 cheapest countries to work remotely

Canada-based magazine The Travel has revealed a list of the 10 cheapest countries to work remotely across the world, with Vietnam featured in the list.

The country was placed seventh in the rankings.

According to The Travel, there is no place quite like Vietnam for global travelers who are seeking great food, surreal scenery, and lifetime friendship to enjoy.

It viewed the country as a hostel haven that attracts a huge number of budget travelers every year.

A foreigner work remotely in a café in Hoi An City (Photo: VNA)

“There are more than a few good reasons to visit Vietnam, especially since it is home to world-famous attractions like Ha Long Bay and exciting Vietnamese cities waiting to be explored,” the magazine stressed.

The Travel confirmed that although prices are low, the Vietnamese travel sector doesn't compromise on service quality, with tourists being assured of top-notch hospitality nearly everywhere they go.

Rounding off the list of the top 10 cheapest countries to work remotely were the Czech Republic, Thailand, Portugal, Turkey, Mexico, India, Spain, Bulgaria, and Colombia.

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