CPI increased 3.85 percent year-on-year in the January-September period

The consumer price index (CPI) climbed 3.85 percent year-on-year between January and September, the highest nine-month CPI growth over the last five years, the General Statistics Office reported.

At a press conference in Hanoi on September 29, GSO General Director Nguyen Thi Huong said the September CPI increased 0.12 percent from last month, 0.01 percent from December 2019, and 2.98 percent from a year earlier.

Six of the 11 groups main consumer goods and services saw month-on-month price hikes in September: beverages and cigarettes (up 0.05 percent); garments, headwear and footwear (0.1 percent), housing and construction materials (0.62 percent), medicine and healthcare services (0.01 percent); education (2.08 percent); and other goods and services (0.02 percent).

Five other groups recorded price declines: food and restaurant services (down 0.31 percent), household appliances and goods (0.06 percent), transport (0.12 percent), postal and telecom services (0.02 percent); and culture, entertainment and tourism (0.2 percent).

Huong attributed the CPI growth in September partly to the scheduled increase of educational services, higher household electricity prices due to stronger demand caused by hot weather, and more expensive domestic rice prices as a result of export rice prices reaching the highest level since 2011.

The third quarter’s CPI grew 3.18 percent from the same period last year.

In the nine months, the index rose 3.4 percent year on year in urban areas and 4.3 percent in rural areas, she noted, adding that the core inflation (CPI excluding grain food, fresh food, energy, and State-managed medical and educational services) went up 2.59 percent.

Contributors to the CPI hike between January and September include higher food, beverage, cigarette and apparel prices due to strong demand in the run up to the Lunar New Year holiday and insufficient pork supply, along with higher prices of some medical supplies and medicine as a result of the COVID-19 outbreak, the GSO chief said.

Meanwhile, lower fuel prices, weaker travel demand due to the COVID-19 impact, and power price cuts to assist pandemic-hit people and businesses helped curb the CPI uptrend.

The official noted that facing complex COVID-19 developments, under the Government’s directions, sectors and all-level authorities have actively implemented a number of synchronous solutions to contain the pandemic and stabilise the market.

The nine-month overall inflation grew at a faster pace than core inflation, showing price fluctuations were mainly driven by higher food and petrol prices. Additionally, the core inflation’s gradual decline from 3.25 percent in January to 1.97 percent in September reflected the monetary policy’s effectiveness over the period./.

Ha Nam promoting centralised aquaculture areas

The northern province of Ha Nam has achieved positive results over the course of four years of implementing a project on developing centralised aquacultural production areas during 2017-2020, developing a new model of an aquacultural cooperative with high economic efficiency.

Ha Nam province has developed nine aquaculture cooperatives with a total area of nearly 110 hectares. Cooperatives supply feed, seedlings, and markets for farmers’ output, cutting feed costs by 10 percent and raising productivity to about 10 tons per hectare.

The formation of cooperatives associated with new aquaculture production has contributed to effectively promoting production. But there are still some obstacles hindering the growth of the model, such as a shortage of land.

Production links among cooperatives are not fully effective as production chains have not been completed, with most cooperatives only selling raw and unprocessed products. Added value, therefore, remains modest.

Ha Nam province is continuing to carry out solutions to expand its area of intensive farming in aquaculture zones to 500 hectares by 2025, with productivity of over 10 tons per hectare./.

Power transmission grid should be developed: insiders

As the country’s total power output will expand by 80,000 MW by 2030, while large sources are located far from centres, it is necessary to develop sufficient power transmission grid to ensure stable operation of the whole system, according to Deputy Minister of Industry and Trade Hoang Quoc Vuong.

At the conference “Vietnam Power Development Plan for the 2021-2030 Perioud with vision until 2045” held in Hanoi on September 28, Vuong said the large resources such as coal, gas and liquefied natural gas (LNG) power plants will increase their capacity by more than 30,000 MW, and onshore and offshore wind and solar power mills by nearly 30,000 MW.

The trend of power transmission is likely to change, which means instead of transmitting power from the north and central regions to the south like in the past, the direction will be in the opposite, Vuong said, stressing the transmission grid development plan should be studied meticulously in the power development Master Plan 8.

Deputy head of the Electrical System Development Department under the Institute of Energy Nguyen Manh Cuong said under Master Plan 8, the country needs to develop transformation stations with capacity totaling 81 GVA for the 12,000 kilometres of the 500 kV transmission line, and 83 GVA for some 20,000 kilometres of the 220 kV transmission line during 2021-2030.

In the next decade, 1,200 kilometres of 500 kV transmission line and 2,000 kilometres of 220 kV transmission line will be put into operation each year on average as compared to the current 400 kilometres and over 1,000 kilometres, respectively, he added.

Investment for the 500 kV and 220 kV transmission lines is a big challenge for the power sector, as the amount doubles the current capacity, he added.

The capacity of the whole system is expected to reach about 138,000MW by 2030 and 302,000MW by 2045, of which priority is given to the development of renewable energy sources in accordance with the potential of each region to ensure safety. Coal-fired thermal power will be reduced gradually, with an increase in gas thermal electricity to compensate.

Meanwhile, Le Thi Thu Ha, a representative from the Electricity Institute, said the power sector is desperate for 133.3 billion USD to develop the power source and grid system during 2021-2030, which means it needs 13.3 billion USD for power investment each year.

Since power development Master Plan 8 has a close link with other sectors like coal, oil and gas, renewable energy, transport, socio-economy and urban space, specific and rational mechanisms and policies must be outlined to successfully carry out all power projects under the master plan so as to ensure a stable supply of electricity, serving the socio-economic development in the coming time, Vuong said.

Vietnam’s economy expands 2.12 percent in nine months

The gross domestic product (GDP) of Vietnam grew 2.12 percent year-on-year in the first nine months of 2020, according to the General Statistics Office (GSO).

This is the lowest nine-month growth rate since 2011, GSO General Director Nguyen Thi Huong said at a press conference in Hanoi on September 29.

However, she noted, amid the COVID-19 pandemic’s serious impact on every socio-economic aspect of countries around the world, it is still a big success of Vietnam in the pandemic fight and economic recovery and development.

Between January and September, the agro-forestry-fishery sector increased 1.84 percent, industry-construction 3.08 percent, and services 1.37 percent. They respectively contributed 13.62 percent, 58.35 percent, and 28.03 percent to the overall growth.

The official said in the third quarter alone, GDP rose 2.62 percent compared to the same period last year, also the slowest Q3 growth pace since 2011.

Thanks to COVID-19 brought under control, economic activities have gradually been resumed in the new normal status, helping the Q3 GDP expand at a faster pace than in Q2 (0.39 percent).

Huong said the complex and unpredictable developments of COVID-19 led to growth slowdown in almost all sectors. Disruptions to international trade affected Vietnam’s production, export and import activities while resulting in high unemployment and job shortage.

Besides, drought and saltwater intrusion that occurred early have affected plant productivity and output.

Facing that fact, the Government and the Prime Minister have issued timely directions for ministries, sectors and localities to carry out concerted and effective solutions so as to concurrently fight against the pandemic, protect people’s health, prevent an economic recession, and maintain social stability, thereby helping to achieve as high as possible results in socio-economic development this year, according to the GSO General Director.

Vietnam, Netherlands seek to boost trading in fruits, vegetables

A virtual conference on trading in fruits and vegetables between Vietnam and the Netherlands was held on September 29 to match Vietnamese suppliers and potential Dutch importers, wholesalers and retailers.

The event was co-held by the Vietname Trade Promotion Agency (Vietrade) and the Department of European and American Markets under the Ministry of Industry and Trade, the Vietnamese Embassy in the Netherlands and the Vietnam Fruit and Vegetable Association in order to help Vietnamese producers take advantage of the EU-Vietnam Free Trade Agreement (EVFTA) which took effect on August 1.

It was participated by 22 Vietnamese exporters of fruits and vegetables and 10 importers from the Netherlands.

Speaking at the event, Vietrade Director Vu Ba Phu highlighted the Netherlands as a gateway for Vietnamese fruits and vegetables to enter the EU market and the global market at large. Meanwhile, Vietnam is Asia’s fifth largest producer of fruits and vegetables with its products available in more than 60 countries worldwide, he said.

The EVFTA will bring many opportunities for enterprises of both Vietnam and the Netherlands, he added, noting that Vietnam has mainly exported pineapple, dragon fruits, coconut, mango and rambutan to the EU countries.

The EU market accounted for about half of the world’s imports of fruits and vegetables, Phu continued, though it is very promising, it is a demanding market with strict requirements in terms of technical barriers and pesticide residue among others.

Therefore, it is mandatory for Vietnamese exporters to pursue safe production applying Good Agricultural Practices (GAP), he said.

Data from the Ministry of Industry and Trade revealed that Vietnam’s shipments of fruits and vegetables to the EU stood at 2.26 billion USD in the first eight months of this year, a decrease of 11.3 percent from a year earlier, due to COVID-19.

Singapore launches regional centre to prepare future of work

Singapore has launched a regional centre to help ASEAN member states prepare for the future of work.

The Regional Centre for the Future of Work will be advised by ASEAN Secretary-General Dato Lim Jock Hoi and relevant international experts.

The initiative is especially timely amid COVID-19, Singaporean Minister for Manpower Josephine Teo said in her keynote address at the HR Tech Festival Asia 2020, a three-day online event for international executives and human resource (HR) practitioners.

The idea for the new centre was first mooted as a regional initiative to ASEAN leaders and International Labour Organisation (ILO) representatives last April, at the 2019 Singapore Conference on the Future of Work.

The centre will champion embracing technology for inclusive growth, workplace safety and health, and tripartite relations.

The COVID-19 pandemic has forced businesses to go digital and adopt remote working arrangements overnight, said Teo. It has also taken a heavy toll on livelihoods. The new centre is aimed at helping member states respond to these challenges.

Lockdown measures and the rapid worsening of economic conditions have led to heightened unemployment and temporary layoffs, she noted, in Asia and the Pacific alone, the total loss in working hours for the second quarter of 2020 was equivalent to 235 million full-time jobs."

She cited figures by ILO as by June 2020, 35 million of these full-time jobs were lost in Southeast Asia. In Singapore, unemployment rose to 2.8 percent in June, the highest in more than a decade.

The centre will be organising more conferences over the next few years, in collaboration with the National Trades Union Congress and the Singapore National Employers Federation.

CEO livestream - Marketing trend to leverage products

Livestream has become an essential tool in product marketing activities over recent years. Many companies previously cooperated with Key Opinion Leaders (KOL) to spread messages and images and attract community interest, but nowadays Chief Executive Officers (CEOs) - charged with running the business - are the main actors leveraging their products and services vie this marketing model.

It’s a livestream with the presence of the CEO of the The gioi di dong Joint Stock Company introducing new products. Following the livestream, sales revenue rose five-fold compared to normal, revealing the attractiveness of using the CEO in this online business model.

Livestream has become a leading marketing trend in terms of effectiveness, especially CEO livestreams.

When thinking about livestreams, many people may think of small retailers selling products such as clothes, cosmetics, or home appliances. The presence of CEOs, however, has helped consumers make new judgments about the effectiveness brought by this marketing model./.

Construction begins on big fruit processing complex in Son La

The Dong Giao Foodstuff Export JSC held a ceremony in the northern mountainous province of Son La on September 29 to launch the construction of its major fruit and vegetable processing complex.

Located in Hat Lot commune, Mai Son district, the Doveco Son La complex is the third of its kind in Son La with a designed capacity of over 50,000 tonnes of products each year and a total investment of around 400 billion VND. It has three production lines using modern technology imported from Italy, Japan and Germany.

Once operational, the centre could consume over 500,000 tonnes of fruits and vegetables of various kinds. It is also expected to generate jobs to hundreds of thousands workers in agriculture field.

Secretary of the provincial Party Committee Nguyen Huu Dong said Son La has planned to develop a farm produce material zone covering over 30,100ha with an output of more than 240,400 tonnes, mostly mango, banana and passion fruit.

Son La is now home to 147 safe food supply chains with 21farm produce receiving protection certificates and 16 others being exported. Its total food and farm produce export was estimated at 74.46 million USD in nine months of this year.

The province is expected to have over 80,500 ha of fruits by the end of this year, the second largest area among localities nationwide.

Singapore Airlines drops “flight to nowhere” plan

Singapore Airlines (SIA) has scrapped its plan for a "flight to nowhere" following a review of factors, including environmental implications and financial viability.

With the aviation industry in deep crisis, several carriers, including those in Australia, Japan and Taiwan, have been offering short flights that start and end at the same airport to raise cash.

They are designed for travel-starved people keen to fly at a time of virus-related restrictions, and have proved surprisingly popular.

However, environmental activists voiced opposition to Singapore Airlines’ launching "flights to nowhere", with group SG Climate Rally saying it is now an opportune moment to think seriously about transitions instead of yearning to return to a destructive status quo.

The airline said earlier this month that it was cutting about 4,300 jobs, or 20 percent of its workforce, becoming the latest carrier to make massive layoffs.

The International Air Transport Association estimates that airlines operating in the Asia-Pacific region stand to lose a combined 27.8 billion USD this year.

The group also forecasts that global air traffic is unlikely to return to pre-coronavirus levels until at least 2024./.

WB lowers Malaysia’s 2020 growth forecast to -4.9 pct

The World Bank (WB) has revised down Malaysia’s economic growth forecast this year to a contraction of 4.9 percent, from an early estimate of minus 3.1 percent, following a sharper than expected contraction in the second quarter of 2020.

According to the WB’s October 2020 Economic Update for East Asia and the Pacific published on September 29, the change in its GDP forecast for Malaysia reflects the heightened uncertainty surrounding the start and speed of the global recovery, which would weigh on investment decisions and external demand.

The WB said the Malaysian economy had been severely affected by the pandemic, leading to a double-digit GDP contraction of 17.1 percent in the second quarter of 2020.

The contraction was driven primarily by a decline in domestic demand due to the imposition of the movement control order (MCO) to stem the spread of COVID-19, as well as weak external conditions.

The WB’s revised 2020 GDP forecast for Malaysia is within Bank Negara Malaysia's (BNM) contraction forecast of between 3.5 percent and 5.5 percent for the year.

According to BNM's statement on August 14 on the economic and financial developments in Malaysia in the second quarter of 2020, the country's GDP is, however, expected to grow between 5.5 percent and 8 percent in 2021./

PM: Domestic macadamia sector needs strategy

Prime Minister Nguyen Xuan Phuc on September 29 assigned the Ministry of Agriculture and Rural Development to build a development strategy for the macadamia sector, with planning, varieties, markets, and investment capital to all be taken into account.

Very few crops post annual growth of 24 percent like macadamia nuts do, which contributes to poverty reduction in remote areas as well as environmental protection and national security, the PM told a conference in the Central Highlands province of Dak Lak.

Therefore, he continued, it is necessary to form a production chain for the nuts.

Domestic macadamia output has increased 24.5-fold over the past three years to reach 6,600 tonnes of raw nuts, he said, and revenue is three-times higher than for coffee. The figures would be even higher with the application of science and technology.

He called for growing areas to be expanded, saying that the northwest and Central Highlands regions could serve as stable production areas.

The PM asked the banking sector, along with businesses and associations, to help farmers with macadamia production, processing, and export.

It was reported at the conference that macadamia is being grown in 23 provinces nationwide, covering more than 16,500 ha, including 15,400 ha in nine provinces which are inside the areas designated for macadamia cultivation in the northwest and Central Highlands which .

Vietnam exports more than 2,400 tonnes of dried macadamia each year to markets such as Japan, China, the Republic of Korea (RoK), Singapore, the US, and France.

According to Minister of Agriculture and Rural Development Nguyen Xuan Cuong, the sector has generated jobs and raised the incomes of some 10,000 farming households, giving rural areas a much-needed facelift.

Global macadamia supply and demand are expected to rise 9 percent and 12 percent, respectively, in the time ahead, which is an important foundation for Vietnam to participate more deeply in the field, the PM said.

Geographical indication helps Binh Thuan dragon fruit conquer foreign markets

The geographical indication (GI) of dragon fruit grown in the south-central province of Binh Thuan has been protected by the European Union (EU), paving the way for the fruit to conquer major foreign markets.

The trademark “Binh Thuan DRAGON FRUIT” has also been registered and protected by 13 countries and territories, including the US, the UK, Germany, France, Japan, Thailand, and the Republic of Korea.

The GI allows Binh Thuan’s dragon fruit to enjoy better sales domestically and gain stronger footholds in foreign countries. Since 2016, the province has licensed 17 more local producers of dragon fruit to use the GI, raising the total number to 96 to date.

Many dragon fruit cooperatives, such as Thuan Tien, Hoa Le, Hong Son, and Ham Tinh, have been granted Collective Trademark by the National Office of Intellectual Property of Vietnam.

As of June this year, Binh Thuan was home to about 32,000 ha of dragon fruit that can generate more than 640,000 tonnes per year.

The province exported around 24,500 tonnes worth over 28 million USD between 2016 and 2019. The fruit has not only been shipped to traditional markets such as Taiwan (China), China, and Thailand, but also entered new markets like Germany, the Netherlands, the US, and New Zealand.

The provincial Department of Agriculture and Rural Development is coordinating with the Binh Thuan Dragon Fruit Association to register the GI with Japan to help the fruit obtain broader access to the Japanese market./.

Da Nang City begins 1 million ‘green’ house projects

Central Da Nang City’s Department of Industry and Trade has launched a pilot project on the development of a million green roof-top solar power houses.

Vice director of the department Nguyen Thi Thuy Mai said the first 45 households in the city would join the project on roof-top solar power with capacities from 1.8 kilowatt peak (Kwp) to 3KWp in 2020.

She said each household with under 3KWp solar power system would receive 2 million VND (87 USD) support for each KWp from the project.

The project, which was jointly developed with the centre for Green Innovation Development (Green ID), aims to raise potential solar power in the city and reduce carbon emissions.

According to the city’s power corporation, more than 1,000 roof-top solar power projects, of which 52 percent are residential buildings, have been built in the city, supplying 1.7 million KWh to the city’s grid each year.

It said more new projects with a total capacity of 5,000 KWp would be built in the city by the end of this year.

At least 7 billion VND (304,000 USD) had been paid for local solar roof-top systems, including residential and public buildings, as well as factories at industrial parks following solar power contracts between power corporations and households.

Statistics from the department showed that Da Nang has great renewable energy potential, with 2,000 hours of sunlight per year and an estimated 1,140 MW (Megawatts) of solar power.

About 30 percent of the city’s population use solar power for water heaters, while about 20 five-star hotels and resorts are using a solar power water heating system.

Da Nang, in cooperation with the European Union, launched a pilot project to develop solar energy at two hospitals, two schools and six households and build a database of solar power capacity in the city as well as a policy framework for clean energy development.

The city plans to build a 4.4MW solar farm on the closed Khanh Son Landfill to supply 7.7 million kWh per year to the city’s power grid, while reducing 5,000 tonnes of carbon emissions each year.

The development of renewable energy projects from ocean waves, tides and biogas from rural areas is planned for 2025./.

Indonesia looks to attract more investment from RoK

Head of the Investment Coordinating Board (ICB) of Indonesia said he and Minister of State-owned Enterprises Erick Thohir made a visit to the Republic of Korea on September 23 and 24 to call for more RoK investment to Indonesia.

Lahadalia said on September 28 that RoK investment in Indonesia in the second quarter of 2020 surged to 552.6 million USD, noting that this is a positive sign.

ICB statistics showed RoK investment in Indonesia in the first half of 2020 reached 683 million USD, a year-on-year increase of 25 percent.

Since 2015, the RoK has been the seventh biggest investor in Indonesia, after Singapore, Japan, China, Hong Kong (China), Malaysia and the Netherlands.

RoK investment in Indonesia during the period from 2016 to early 2020 focused on electricity, gas and water (944.3 millioin USD), machinery, electronics, medical equipment, electric and optical equipment (902.5 million USD), chemicals and pharmaceuticals (749.6 million USD), leather-footwear (552 million USD), and other industries absorbed 528.7 million USD.

Java is the top destination for RoK investors, attracting 4.5 billion USD, followed by Kalimantan with 1 billion USD, and Sumatra with 372.4 million USD./.

Malaysia: Shopping malls step up measures to curb COVID-19 pandemic

Malaysia Shopping Mall Association (PPK) has emphasised the protection and well-being of shoppers as a top priority at all times, and have taken all possible steps to avoid COVID-19 infections.

In a statement on September 28, the PPK said complete sanitation, proper disinfection and deep cleaning of areas visited by those infected with COVID-19 had been carried out in strict accordance with the guidelines laid down by the Ministry of Health.

Safety for all staff, tenants, patrons, visitors and shoppers is of primary concern and shopping malls are following the accepted Standard Operating Procedures (SOPs). These include contract tracing, monitoring temperature, wearing of masks, providing hand sanitisers at mall entrances and other strategic spots for shoppers and also for staff.

The PPK said once shoppers passed through the entrances, retailers again conduct the same procedure with contact tracing and hand sanitisation at their outlet entrances (with temperature checks being optional as the implementation of QR Code scanning would enable effective contact tracing to be conducted).

The statement was issued as a number of COVID-19 cases involving the staff at five shopping malls in the Klang Valley had been reported in the last 10 days.

The COVID-19 outbreak in Malaysia has become more serious with three-digit number of new infections recorded each day. The country imposed strict movement restrictions in four districts of Lahad Datu, Tawau, Kunak and Semporna in Sabah states after reporting more than 1,000 COVID-19 cases from the beginning of September. Accordingly, non-essential businesses will be required to shut down for 14 days, from September 29./.

Nearly 99,000 businesses established in nine months

Nearly 99,000 new enterprises were established in the first nine months of this year, a year-on-year fall of 3.2 percent, according to the General Statistics Office (GSO).

The firms registered to invest a total capital of more than 1.4 quadrillion VND (60.56 billion USD), and hire 778,000 labourers, up 10.7 percent and down 16.3 percent as compared to the same time last year.

The average registered capital of each new business was at 14.4 billion VND, a year-on-year surge of 14.4 percent.

Meanwhile, 29,500 operating enterprises registered to increase capital by 2.1 quadrillion in total for their business. As a result, the domestic economy received a total capital of more than 3.6 quadrillion VND from newly established and existing businesses this year, expanding 19.2 percent year on year.

In three quarters, 34,600 companies resumed operation, up 25.5 percent from the same time in 2019.

Additionally, there were 38,600 businesses temporarily suspending operations, a surge of 81.8 percent compared to the previous year; while about 27,600 enterprises were waiting for dissolution procedures and nearly 12,100 completed dissolution procedures, down 2.4 percent and up 0.1 percent, respectively.

A survey on business trends of enterprises in the processing and manufacturing sector in the third quarter showed that 32.2 percent of businesses had better business performance than the previous quarter. About 32 percent of surveyed firms had difficulties in production and business, and 36 percent had stable operation.

Up to 45.6 percent of enterprises felt upbeat about their business in the quarter, 19 percent forecast difficulties, and 35.4 percent believed they would have stable business and operation./.

Malaysia: Shopping malls step up measures to curb COVID-19 pandemic

Malaysia Shopping Mall Association (PPK) has emphasised the protection and well-being of shoppers as a top priority at all times, and have taken all possible steps to avoid COVID-19 infections.

In a statement on September 28, the PPK said complete sanitation, proper disinfection and deep cleaning of areas visited by those infected with COVID-19 had been carried out in strict accordance with the guidelines laid down by the Ministry of Health.

Safety for all staff, tenants, patrons, visitors and shoppers is of primary concern and shopping malls are following the accepted Standard Operating Procedures (SOPs). These include contract tracing, monitoring temperature, wearing of masks, providing hand sanitisers at mall entrances and other strategic spots for shoppers and also for staff.

The PPK said once shoppers passed through the entrances, retailers again conduct the same procedure with contact tracing and hand sanitisation at their outlet entrances (with temperature checks being optional as the implementation of QR Code scanning would enable effective contact tracing to be conducted).

The statement was issued as a number of COVID-19 cases involving the staff at five shopping malls in the Klang Valley had been reported in the last 10 days.

The COVID-19 outbreak in Malaysia has become more serious with three-digit number of new infections recorded each day. The country imposed strict movement restrictions in four districts of Lahad Datu, Tawau, Kunak and Semporna in Sabah states after reporting more than 1,000 COVID-19 cases from the beginning of September. Accordingly, non-essential businesses will be required to shut down for 14 days, from September 29./.

Expansion of HCMC's largest wastewater pumping station completed

Work to expand the capacity of the Đồng Diều wastewater transfer pumping station in HCM City’s District 8 has been completed.

The station capacity was expanded by 192,000 cubic metres to 640,000 cubic metres per day to meet demand caused by urbanisation.

The pumping station is the city’s largest one for wastewater treatment, according to the city's Management Board for Traffic Works Construction and Investment.

The station has added pumps with a capacity of 122.1 cubic metres per minute each, two sand sedimentation chambers, one 2,500kVA transformer and 1,100kVA backup generator.

A 3.6km-long double box culvert was also built to transfer water from the pumping station to the wastewater treatment facility.

The pumping station will collect and move all wastewater from residential areas in the basins of Tàu Hủ - Bến Nghé and Đôi and Tẻ canals to the Bình Hưng Wastewater Treatment Plant in District 8.

It will improve the rainwater drainage system, and reduce pollution and reduce flood risks on 2,510ha in districts 4, 5, 6, 8, 10 and 11 where about two million people live.

The pumping station is part of a number of construction packages in the city’s water environmental improvement project for the basins of Tàu Hủ - Bến Nghé, and Đôi and Tẻ canals. 

One of the construction packages will increase the daily capacity of the Bình Hưng Wastewater Treatment Plant from 141,000 cubic metres to 469,000 cubic metres. Construction began in 2015. And it is slated to be put into use in the second quarter of next year.

Another package will renovate the water drainage system and build secondary water drainage lines and pumping stations in the basin of Hàng Bàng Canal in order to solve flooding.

A 33.7km-long sewer system to collect wastewater will also be built. In addition, canals and drainage pumping systems at Tàu Hủ - Bến Nghé Canal will be renovated. This will improve the rainwater drainage system by increasing the capacity of Mễ Cốc 1 pumping station in District 8 from 0.7 cubic metres to 1.5 cubic metres per second. 

Cambodia to export beef to China for first time

Cambodia is preparing for its first shipment of beef to the Chinese market, according to the Cambodian Ministry of Agriculture, Forestry and Fisheries (MAFF).

The ministry said Cambodia will benefit from the US-China trade war and trade tension between China and Australia – the country that exports most beef to China.

Speaking at a contract signing ceremony involving 58 farming communities and exporters at MAFF on September 29, Minister of Agriculture, Forestry and Fisheries Veng Sakhon said the government is diversifying agricultural products and beef is one of the potential foods to export to China.

In the near future, the Southeast Asian nation will expand markets, especially for agricultural products for export.

Cambodia and China expect to sign a free-trade agreement soon, Sakhon said, expressing his hope that with the largest population in the world, China will be a huge market for Cambodia’s farm produce.

Currently, Cambodia mainly exports live cattle to Vietnam and Thailand. The country will also import cows from Australia for domestic farming./.

WB forecasts uncertain economic outlook for Cambodia

The World Bank East Asia and Pacific Economic Update October 2020, released on September 29, forecast the Cambodian economy will contract 2 percent this year.

Cambodia’s unfavourable growth outlook alongside disruptions to jobs and lower household incomes means poverty is likely to increase, it said.

The bank added that “significant uncertainty” remains for Cambodia’s economic growth outlook with downside risks including a local COVID-19 outbreak, deeper and prolonged decline in tourist arrivals as well as increased global trade tensions and protectionism.

“Cambodia’s economy and its key growth drivers – namely construction, tourism and merchandise exports – continue to be severely affected by the global crisis unleashed by the COVID-19 pandemic,” the World Bank said.

On a positive note, the WB said Cambodia’s domestic demand had been gradually returning, as well as having good prospects with current bilateral trade negotiations, forecasting economic growth of 4.3 percent in 2021 and 5.2 percent in 2022.

Last week, the Asian Development Bank (ADB) revised its 2020 growth forecast for Cambodia, with a 4.0 percent contraction for the country’s gross domestic product this year, compared to its June projection of a 5.5 percent decrease.

The Asian Development Outlook (ADO) 2020 Update also expected Cambodia’s economic growth to rebound to 5.9 percent in 2021 but stressed that this prediction is uncertain./.

Cambodia wins rice battle at EU Court

The European General Court has rejected the European Commission’s (EC) request to reject a complaint submitted by Cambodia and the Cambodian Rice Federation (CRF) regarding the EU’s reintroduction of tariffs on Indica rice exports from Cambodia, according to the Phnom Penh Post.

A court order uploaded to the European Law Journal on September 10 said the EC had submitted a plea requesting the court to dismiss Cambodia’s complaint and regard it as inadmissible.

But Cambodia and the CRF argued that the court should reject the EC’s plea of inadmissibility and annul the contested regulation on the rice exports. The court decided that the plea of inadmissibility is rejected.

Cambodia and the CRF last April took the EC to court for the commission’s decision to reintroduce import duties for Indica rice from Cambodia for three years.

The reintroduction of import duties required Cambodia to pay 175 EUR (201 USD) per tonne in the first year, 150 EUR per tonne in year two, and 125 EUR per tonne in year three, effective from January 18, last year.

The EC said Cambodia and the CRF did not satisfy the standing requirements to bring proceedings as stated in Article 263 TFEU (Treaty on the Functioning of the European Union).

The commission said the re-introduced regulations did not apply to the territory of Cambodia and therefore had no binding legal effect on Cambodia or the CRF.

It said the decision did not prevent the export of Indica rice from Cambodia to the EU. At most, the regulations may bring about a possible decline in sales, the EC said. The regulation did not cause any personal damage to the Kingdom of Cambodia or the CRF, it said.

But the court chamber objected to the EC’s claim. It said the contested regulation thus has direct legal effects on the Cambodia since by means of that regulation; the commission has changed the legal situation of the Kingdom of Cambodia as a country benefiting from the full suspension of Common Customs Tariff duties./.

Over 623 million USD mobilized from Government bonds

The State Treasury mobilised over 14.4 trillion VND (over 623 million USD) through Government bond auctions on the Hanoi Stock Exchange (HNX) on September 30.

As many as 11 trillion VND worth of G-bonds were offered, including five-year bonds valued at 1 trillion VND, 10-year bonds worth 4 trillion VND, 15-year bonds worth 3 trillion VND, and 20-year and 30-year bonds, each valued at 1.5 trillion VND.

The State Treasury raised 300 billion VND worth of five -year bonds with an annual average yield rate of 1.35 percent, down 0.29 percent from the previous auction on September 9.

A total of 4 trillion VND was mobilised from 10-year bonds with an annual interest rate of 2.75 percent, down 0.04 percent from the auction on September 23. The sub-auction for the 10-year bonds on the same day raised another 2 trillion VND

Bonds with 15-year maturity raised 3 trillion VND with an annual interest rate of 2.96 percent, down 0.04 percent as compared to the September 23 auction. The sub-auction for the 15-year bonds on the same day raised an additional 1.5 trillion VND.

Meanwhile, 1.5 trillion VND was collected via 20-year bonds with a yield rate of 3.26 percent, down 0.01 percent from the auction on September 23. . The sub-auction for this kind of bond raised another 750 billion VND.

Over 1.39 trillion VND was mobilised from 30-year bonds with an annual interest rate of 3.48 percent.

So far this year, the State Treasury has collected nearly 228.7 trillion VND from G-bond auctions at the HNX./

Hanoi targets Q4 growth of at least 5 percent

Hanoi has targeted economic growth of at least 5 percent in the fourth quarter of this year, to ensure its annual growth is 1.3 times higher than in the country’s average, Vice Chairman of the municipal People’s Committee Nguyen Doan Toan has said.

Toan told an online meeting between the municipal administration and district-level authorities on September 30 that despite the strong impact of COVID-19, thanks to directions from all-level Party Committees and authorities as well as efforts by enterprises and citizens, production and business difficulties have gradually been tackled and the economy is in recovery.

The capital’s gross regional domestic product (GRDP) rose 3.05 percent in Q3, compared to 2.41 percent in Q2, resulting in nine-month growth of 3.27 percent, or 1.54 times higher than the country’s 2.12 percent.

More than 50 trillion VND (2.1 billion USD) was collected for the State budget in the July-September period, for a nine-month figure of over 176.93 trillion VND, representing 63.5 percent of this year’s target and 92.8 percent of the figure in the same period last year, he noted.

Toan also highlighted the city’s positive performance in agriculture, industrial production, construction, wholesale and retail, and banking.

For Q4, Hanoi will push ahead with drastic action to realise the twin targets of fighting the pandemic and recovering the economy, to record the best possible results in socio-economic development and the financial and budgetary situation this year, the Vice Chairman added.

In his remarks, Secretary of the municipal Party Committee Vuong Dinh Hue emphasised Hanoi’s growth target of 4-4.5 percent for the full year.

He ordered the continued implementation of outcomes from the city’s investment promotion conference in June, along with the facilitation of innovation and entrepreneurship.

Departments, sectors, and authorities also need to accelerate key transport projects, step up administration reform, and continue to guarantee social security, especially for the poor, Hue said./.

WB: Indonesia’s economy to contract faster than expected

Indonesia’s economy could contract more than expected if the coronavirus pandemic remains uncontrolled, as Southeast Asia’s largest economy faces an “uneven and volatile” economic recovery, according to the World Bank (WB).

The bank’s East Asia and Pacific Economic Update published on September 29 showed that Indonesia’s economy will fall by 1.6 percent this year under the baseline scenario. In June, it had projected zero growth. However, the economy may contract even by 2 percent if the country fails to control the pandemic.

“It is in countries like Indonesia and the Philippines that recovery will be much slower, because they have not succeeded in controlling the disease,” said Aaditya Mattoo, WB Chief Economist for East Asia and the Pacific.

It is expected that the Indonesian economy will recover next year with a growth of between 3 and 4.4 percent, he said.

Febrio Kacaribu, head of the fiscal policy office at Indonesia’s finance ministry, stated that in general, the WB forecast is still in line with the latest government assessment which estimates that Indonesia’ economic growth will be in the range of -1.7 to -0.6 percent.”

Previously, the Asian Development Bank (ADB) and the Organisation for Economic Cooperation and Development (OECD) predicted respective contractions of 1 percent and 3.3 percent for the Indonesian economy this year./.

Forum promotes digital transformation in tourism industry amid COVID-19

The Vietnam Tourism Association (VITA) in conjunction with the Vietnam E-Commerce Association (VECOM) on September 30 organised an online forum on digital transformation to promote Vietnam's tourism development in the context of global COVID-19 outbreak.

The event offered a good chance for travel agencies to approach the theory and practice of applying new technologies in tourism business, especially getting more information on technologies supplied by leading technology corporations in the world such as Google, Booking.com, and Facebook.

Addressing the forum, Deputy Minister of Culture, Sports and Tourism Nguyen Van Hung said the event is an important solution to help restore and promote the country's tourism development sustainably, adding that digital transformation is an inevitable development trend of tourism and it needs to be accelerated after heavy impacts of the COVID-19 pandemic.

According to VITA Vice Chairman Vu The Binh, international visitors to Vietnam in 2020 is likely to decrease by at least 70 percent compared to 2019, while the number of domestic visitors will be reduced by 50 percent, and the revenue from tourism activities will fall over 61 percent.

This extremely difficult situation requires tourism businesses to adjust their strategies to quickly recover and gain growth again when the pandemic is under control, he said, adding that comprehensive digital transformation is part of these strategies.

Through digital transformation, travel agencies can reach more travellers, provide better care to customers, reduce costs and increase business efficiency, he said.

Digital transformation is an inevitable trend which helps businesses improve their competitiveness, he added.

Participants to the event were updated on demand, trends and digital transformation capability.

In the framework of the forum, a showroom of technological products was arranged for a number of technology businesses to introduce their products.

VITA has planned to organise other events to help Vietnamese tourism firms access new technological solutions towards recovering and further promoting their business amid the COVID-19 pandemic./.

Source: VNA/VNN/VNS/VIR/VOV/SGT/NDO/Dtinews