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Vietnam’s Binh Duong among world’s top seven intelligent communities

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Binh Duong smart city in the namesake southern Vietnamese province was listed in the world’s top seven intelligent communities for the second consecutive year.

The Intelligent Community Forum (ICF) and Binh Duong People’s Committee organized a ceremony in the southern province on Tuesday evening to announce the 2022 Top 7 Intelligent Communities of the Year.

Binh Duong smart city was named in the Smart21 Communities for the fourth year in a row and Top 7 Intelligent Communities for the second consecutive year in 2022.

In order to get recognized as one of the Smart21 Communities, Binh Duong smart city and other cities around the world had to meet strict criteria including broadband coverage, equality in digital access, innovative workforce, and support for sustainable development, said Louis Zacharilla, co-founder of the ICF.

The ICF gathers nearly 200 prosperous smart cities in the world, Zacharilla continued, adding that it offers a chance for organizations and businesses in Binh Duong and Vietnam in general to connect with the international community.

Many provinces and cities across Vietnam are building smart cities, but Binh Duong has its own approaches, said Mai Hung Dung, standing vice-chairman of the Binh Duong People’s Committee.

The Binh Duong smart city project, initiated in 2016, focuses on the interaction between the state, research institutes, and universities and businesses to create an innovation environment and find solutions to increase labor productivity and improve incomes of local residents.

It also highlights the cooperation with cities and major corporations around the world, creating an effective channel to attract investment, Dung elaborated.

Statistics from the Ministry of Planning and Investment showed that Binh Duong Province led the country in terms of foreign direct investment (FDI) in the first five months of 2022 with over US$2.5 billion, followed by Bac Ninh Province with $1.65 billion and Ho Chi Minh City with $1.3 billion.

The southern province recently started the construction of many new industrial parks and attracted major projects such as the $1 billion factory of LEGO Group.

On the sidelines of the ceremony, hundreds of Vietnamese and international delegates attended a conference on post-pandemic recovery, digital transformation, and innovation.

Tran Tuan Anh, Politburo member and head of the Central Economic Commission, and many officials of the Party and state were among the attendees.

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Source: https://tuoitrenews.vn/news/business/20220622/vietnams-binh-duong-among-worlds-top-seven-intelligent-communities/67744.html

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Vietnam’s 2022 economic growth projected at 7%

Vietnam’s GDP is likely to expand by around 7 percent in 2022, much higher than 2.58 percent growth of 2021.

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Minister of Planning and Investment Nguyen Chi Dung made the above statement at the Cabinet meeting in Hanoi on July 4.

With this scenario, the economy needs to expand 9 percent in the third quarter and 6.3 percent in the last quarter this year, the minister said.

In the first half, the Southeast Asian country’s GDP accelerated to 6.42 percent growth compared to the optimistic scenario of 5,1-5,7 percent as figured out in the Government’s Resolution No. 01/NQ-CP, dated January 01, 2021 on major tasks and solutions for implementation of socio – economic development plan and state budget estimate for 2022. 

Especially, the GDP grew 7.72 percent in the second quarter, which is the fastest growth pace for April-June period since 2011.

Earlier, the World Bank predicted Vietnam’s 2022 GDP growth at 5.5 percent if the COVID-19 pandemic is controlled.

The projection is lower than the Vietnamese Government’s predictions at 6.5-7 percent, HSBC at 6.5 percent and Standard Chartered at 6.7 percent.

Source: https://e.nhipcaudautu.vn/economy/vietnams-2022-economic-growth-projected-at-7-3346528/

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Dragon Capital buys 2.1 million shares of Sacombank

Asset management company Dragon Capital has bought 2.1 million shares of HCMC-based Sacombank, increasing its stake in the bank to 6.09 percent.

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On June 29, two affiliated funds, CTBC Vietnam Equity Fund and Norges Bank, bought 2.3 million shares of the lender while a third, Samsung Vietnam Securities Master Investment Trust, sold 200,000 shares.

The value of the deal is estimated at VND47.5 billion (US$2.03 million) based on the share’s closing price last Wednesday.

Funds under Dragon Capital own 114.8 million shares or a 6.09 percent stake in the bank.

In March, Dragon Capital had raised its stake from 4.98 percent to 5.05 percent, after its largest fund, Vietnam Enterprise Investment Limited, bought 1.25 million shares.

Source: VnExpress

Source: https://e.nhipcaudautu.vn/companies/dragon-capital-buys-21-million-shares-of-sacombank-3346515/

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Vietnam targets 7% GDP growth this year: minister

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HANOI — Vietnam is aiming for economic growth of 7% this year, the country’s planning and investment minister said on Monday, higher than an official target of 6.0%-6.5% set previously.

To achieve this, year-on-year economic growth in the third quarter needs to be 9.0% and in the fourth quarter 6.3%, minister Nguyen Chi Dung also said during a government meeting.

Dung said Vietnam’s budget was in surplus, giving scope for fiscal policy to be used to support businesses and residents.

“Credit institutions will need to further cut their lending interest rates to reduce input cost pressure for businesses and for the economy,” he said.

Vietnam, a regional manufacturing hub, started lifting its coronavirus curbs late last year, allowing factories to resume full operations.

The economy is recovering after growing only 2.58% last year, the slowest pace in decades.

The Southeast Asian country reported GDP growth of 7.72% in the second quarter, backed by strong export growth, but warned of upward inflation pressure for the rest of the year. 

Source: https://tuoitrenews.vn/news/business/20220704/vietnam-targets-7-gdp-growth-this-year-minister/67932.html

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