Participants at the event. Photo: VNA

Vietnam supports Cambodia’s insurance linkage initiative in ASEAN

Vietnamese Minister of Labour, Invalids and Social Affairs Dao Ngoc Dung voiced support for Cambodia's initiatives on building a declaration on insurance linkage within ASEAN, and promoting the potential of women in business, peace and security, at the 27th ASEAN Socio Cultural Community (ASCC) Council Meeting on March 30.

In his speech at the virtual event, Dung stressed that efforts of the ASCC are testament to the protection of factors that promote economic and social development; and ensure the rights of workers in general and migrant workers in particular, thus building an open, adaptive society and eliminating existing inequalities in society.

He expressed his belief that ASEAN’s recent initiatives to promote the role of regional young people will contribute to building a cohesive and sustainable ASEAN Community.

The minister also shared Vietnam’s efforts to promote post-pandemic recovery, saying that the Vietnamese government has issued policies to help workers and businesses overcome difficulties.

Vietnam has successfully implemented its vaccine strategy through the largest vaccination campaign ever, becoming one of the countries with the highest Covid-19 vaccine coverage rate in the world, he noted.

Participants demonstrated strong support for a series of initiatives launched by Cambodia, especially in terms of youth, sports, labour and enhancing entrepreneurship for women.

They spoke highly of the ASCC’s priorities and efforts in connecting people with people, putting people at the centre of sustainable development and leaving no one behind, saying that activities of the community are increasingly substantive, and closely following international, regional and national priorities.

They also applauded the education sectors of ASEAN member countries for promoting digital transformation in education activities and re-opening schools in the new normal, cited VNA.

The ministers also supported the building of a declaration on upholding the role of sports in building the ASEAN Community and realizing sustainable development goals; and another one on strengthening ASEAN identity through protecting traditional sports and games.

Strong, fresh wave of cold air to hit north Vietnam this weekend

A strong wave of cold air is likely to strike northern Vietnam this weekend and send temperatures plummeting across the region, according to the national weather forecast authority.

The cold front, accompanied by strong winds, is heading towards Vietnam from China and is forecast to reach the border midnight on March 31, said the National Centre for Hydro-Meteorological Forecasting.

The cold air will move further inland on April, causing temperatures to drop to 14 – 17 degrees Celsius in the plain and 12 degrees in the mountainous areas, according to VOV.

Northerners will brace for a strong cold spell this weekend. Photo: VOV

Torrential rain and hailstorms are likely in much of the region, especially in the northern and north-central mountainous localities.

The fresh air wave will also cause rough seas in the northern part of the East Sea, including the Hoang Sa (Paracel) archipelago.

Meanwhile, central and Central Highlands localities are expected to ensure lashing rain in the coming day that threatens to flood large parts of low-lying areas.

The unseasonal rain can cause sudden landslides and floods, weather experts warned, calling on local administrations in areas vulnerable to landslides and flooding to develop evacuation plans on hand.

Vietnamese men expected to move up two places in FIFA ranking after drawing Japan

The national men’s football team of Vietnam is expected to move up two spots in the FIFA rankings after the 1-1 draw match with Japan as part of the final round of World Cup 2022 qualifiers on March 29.

The FIFA has yet to update its rankings. The team is likely to jump to the 96th place in March, according to the Football Ranking website.

The national men’s football team of Vietnam is expected to move up two spots in the FIFA rankings. Photo: VNP

In March, Vietnam played two games within the third qualification round of World Cup 2022. The team lost 10.54 points after losing 0-1 to Oman, and then gained additional 7.37 points after drawing 1-1 against Japan,

By advancing to the 96th position, Vietnam will rank 16th in Asia and first in Southeast Asia, reported VNA.

After the World Cup 2022 final qualification rounds, Japan earned 3.63 points, jumping to the top in Asia and the 22nd in the world.

Increase in FDI opens up opportunity to develop local supporting industries

Disbursed foreign capital reached over US$1.6 billion in January, up 6.8% year on year. This is a good sign for Vietnam as it has received more attention from foreign investors, with the expectation of becoming the world's new production center.

In January 2022, disbursed foreign capital reached over US$1.6 billion, up 6.8% over the same period last year. This is a good sign for Vietnam as it has received more attention from foreign investors, with the expectation of becoming a new production center of the world.

The supporting industry will also have many favorable factors to help the field develop more strongly.

For example, Apple has moved production lines to Vietnam while investing in more factories or expanding production at existing facilities such as Foxconn, Luxshare, Pegatron, Wistron.

Samsung has decided to develop in Vietnam by building the largest Research and Development Center in Southeast Asia, worth US$220 million in Hanoi, and has plans to expand many factories. Most recently, Samsung invested an additional US$920 million in a new manufacturing project in Thai Nguyen province.

Photo: VNN

Some US businesses are looking for more than 300 domestic supporting industry suppliers to supply thousands of details and components. Recently, Panasonic has moved its refrigerator and washing machine factory from Thailand to Vietnam.

The signals partly show that Vietnam's economy has been regaining strong growth momentum.

Great opportunity for local supporting industry

According to Bui Minh Hai, Chairman of Hanoi Plastics Joint Stock Company, the fact that foreign firms find sources of supply in the domestic market is an opportunity for local enterprises to participate in the supply chain of high value.

Hanoi Plastics JSC is a supporting industry enterprise specializing in providing plastic components for foreign firms such as Honda, Toyota, Samsung, Panasonic, LG, Daikin. In recent years, the company has participated in various cooperation consulting program of foreign partners, in order to improve its production capacity, and reduce the error rate in the production process.

This is one of the effective solutions to help the firm improve its competitiveness. The company also offers new development strategies to attract customers, cited VNN.

By changing strategies, flexibly responding, and quickly recovering during the pandemic, Hanoi Plastics JSC is expected to anticipate market demand and grow strongly in 2022.

It is predicted that in 2022 exports in general and exports of phones and components will continue to grow strongly when the world economy recovers. This is good news for the electronics industry and the electronics supporting industry.

Vietnam projects impress int’l community at Binance Blockchain Week

Vietnamese blockchain games, including Axie Infinity and finance apps such as Coin98 Finance, made a positive impression on the international community at the Binance Blockchain Week held recently in Dubai.

The event saw representatives from Vietnamese blockchain projects invited as guests and give speeches to participants. These projects were warmly welcomed by both the game guilds and the wider international blockchain developer community.

Speaking on the sidelines of the event, a representative of Coin98 Finance said that Blockchain, crypto, and DeFi are all in their finishing stages and are now ready to serve the mass market.

He added that each individual and organization participating in the market, apart from making profitable investments, is obliged to contribute to the development of the entire industry, VOV reported.

Vietnamese projects impress int’l community at Binance Blockchain Week 2022 in Dubai. Photo: VOV

The representative of Coin98 went on to stress that he is proud to be involved in one of the Vietnamese projects that has significantly contributed to the new technology industry.

Other Vietnamese invested projects introduced at the event were Thetan Arena, an esport game based on blockchain technology, and Elemon, a creative and innovative game project which features a combination of NFT technology. These projects have become famous around in the world and also attracted the attention of attendees.

The Binance Blockchain Week 2022 is an annual event that gathers together the brightest and most influential minds from within the blockchain ecosystem.

The three-day event represents an opportunity for participants to discuss blockchain topics and seek investment opportunities.

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