Day: June 19, 2023

The British University Vietnam (BUV) has launched the next phases of its 165-million-USD campus development plan, thus enhancing facilities to meet the needs of students.

On the occasion of the 50th founding anniversary of diplomatic relations between Vietnam and the United Kingdom, the British University Vietnam (BUV) held a ceremony on June 15 to introduce the expansion plan of its 165-million-USD campus, as part of a long-term investment strategy for Vietnamese education that aims to provide the young generation of Vietnam with the opportunity to access British higher education programmes in a world-class learning environment.

The ceremony took place at the Student Hub & Food Court, representing Phase 2A of BUV’s campus expansion plan, completed and officially put into operation in the first quarter of 2023, with the participation of British Deputy Ambassador to Vietnam Marcus Winsley, Vice Minister of Education and Training Nguyen Van Phuc, and other high-level representatives from the Vietnamese Ministry of Education and Training, the Office of the National Assembly, and Hung Yen province’s Department of Education and Training.

At the ceremony, Vice-Chancellor and President of BUV Prof. Dr. Raymond Gordon expressed his gratitude to governmental bodies, corporate partners, organisations and individuals for continuous support to BUV’s journey to the development of education in Vietnam. In particular, the investment in building facilities to meet the needs of learning, research and teaching is considered one of the key activities.

“This facility stands as a testament to BUV’s commitment to education in Vietnam and is indicative of the successful outcomes emanating from the bilateral relations between Vietnam and the United Kingdom. For half a century, our two nations have cultivated strong diplomatic ties and embarked on a journey of ongoing cooperation,” he said.

The campus, which is located in the Ecopark urban area, already has phase 1 and the first half of phase 2 completed, which includes learning theatres, a modern library with 24/7 classrooms, an academic building with administrative rooms, functional classrooms, a sports complex, and a Student Hub and Food Court. The second phase of development is scheduled to be finished in early 2025, with the entire campus completed in early 2028.

At BUV, along with academic knowledge, students are able to carry out project exercises and develop practical skills using modern equipment and technology. To do this, BUV focuses on developing a system of functioning classrooms for Game Design & Programming, Computer Science, and Tourism and Hospitality. Students are encouraged to actively participate in sharing knowledge and ideas, as well as in the discovery and enhancement of their learning and research capacities.

The classrooms for Computer Games Design and Programming are equipped with cutting-edge technology valued at up to 2 million USD, assuring the functionality and ease of use for students practising game production. In addition, the Motion Capture Studio has a lighting system, and a collection of cameras and devices that enable Chroma Key technology, serving as an “effective assistant” for students in the creation of creative and visual works.

Meanwhile, Tourism & Hospitality students have the opportunity to practice professional and business skills in functional learning rooms that imitate parts of a 5-star hotel, such as the Training Restaurant, Housekeeping Room, Learning Kitchen, and so on. The classroom, in particular, resembles the working environment of the reception department and is linked to hotel management software in order to optimise conventional learning techniques and online learning.

At BUV, many sections, such as Tea Corner and the outdoor fountain area, have been optimised to become event venues with capacities ranging from 100 to over 2,000 people. In particular, the Student Hub & Food Court building, which has a capacity of nearly 2,000 people and serves as an eating area and free living space for students, was completed and went into operation in 2023. The structure was designed to provide students with the experience of relaxing, eating, and chatting with friends after class, and it has a designated area equipped with a sound and lighting system, projection equipment, ready to host an indoor event.

Furthermore, BUV provides a gym, free yoga for students, and amenities such as an international standard football field, basketball and badminton courts to meet the demands of rest and relaxation after long hours of study.

Along with its educational mission, BUV is working to minimise CO2 emissions in all of its operations, with the goal of becoming one of Vietnam’s first “carbon neutral” institutions. This is consistent with the core value of “Sustainability and Responsibility” that BUV strives to uphold. The BUV architectural space is meant to maximise natural light and ventilation while reducing energy use by 20%. BUV staff and students are encouraged to use buses to travel to campus instead of personal automobiles to reduce emissions to the environment.

Professor Raymond shares the vision for the campus as “a testament to the University’s provision of a world-class educational environment that facilitates discovery-based pedagogy, collaborative problem-solving, and cross-cultural understanding. It represents a space where students from diverse backgrounds can come together, to both create and exchange ideas. It illustrates how at BUV the acquisition and creation of knowledge is not confined to classrooms, but rather, extends to every corner of this campus.”

Over the years, BUV has been recognised as a successful educational collaboration model between the Vietnamese and UK governments. BUV received a 5-star recognition from the QS organisation (Quacquarelli Symonds) and accreditation from the Quality Assurance Agency for Higher Education (QAA), demonstrating its steadfast dedication to its goal./.

Source: Vietnam News Agency

The number of enterprises exporting goods to China via Mong Cai International Border gate in the northeastern province of Quang Ninh increased to 694 in the first half of this year, 70% higher than that of the same period last year.

According to the head of the border gate management board Tran Bich Ngoc, import-export activities via the border gate stay stable with trade turnover from the beginning of this year to June 15 reaching nearly 1.5 billion USD, a year-on-year increase of 8.24%.

Specially, export turnover topped 1 billion USD, and import turnover 460.8 million USD. State budget revenue reached 667.77 billion VND (28.4 million USD), marking a year-on-year increase of 35%.

Ngoc said that as of June 15, the total volume of import and export goods traversing the border gate neared 753,000 tonnes, an increase of 265% over the same period in 2022.

It is estimated that by June 30, it will reach 833,000 tonnes, up 198% over the same period last year.

Particularly, Bac Luan II Bridge Border Gate will see the entries and exits of 21,534 vehicles with nearly 360,000 tonnes, an increase of 147% in goods volume over the same period in 2022. On average, there are 160 vehicles carrying 2,662 tonnes of goods daily.

Crossing Km3+4 Hai Yen will see 22,704 vehicles carrying nearly 372.5 tonnes of import and export goods. On average, 143 vehicles with 2,343 tonnes of goods traverse the crossing daily, an increase of 585% over the same period in 2022.

Vietnam’s exports to the Chinese market are mainly fruits, tapioca, frozen seafood, shrimp, crabs, fish, and other dried goods. Imports from China to China are mainly groceries and fabrics./.

Source: Vietnam News Agency

The Vietnam Trade Office in Algeria on June 18 held a trading conference in a hybrid format, with the aim of boosting trade cooperation between the two countries.

The event attracted the participation of 13 Vietnamese businesses and 25 Algerian firms operating in the import and export of agricultural products, food, industrial products, fishing tools, and cosmetics.

Vietnamese Trade Counsellor in Algeria Hoang Duc Nhuan introduced to participants the trade and investment cooperation situation between the two countries and promising business opportunities.

Besides the need to import agricultural products, solar panels, auto parts, footwear, powdered milk, and fabrics from Vietnam, Algerian businesses showed their hope to export dates, olive oil, flavourings, chicken feet, lobsters, sea cucumbers.

They also called for Vietnamese businesses to cooperate and invest in Algeria in poultry farming, aquaculture, and construction.

On this occasion, the Vietnam Trade Office also invited Algerian firms to visit a booth introducing Vietnamese goods at the 54th Algiers International Fair (FIA 54) scheduled to be held from June 20-25 at the Exhibition Palace Pins Maritimes, as well as participating in the Vietnam International Sourcing 2023 to be organised by the Ministry of Industry and Trade from September 13-15 in Ho Chi Minh City.

According to data of the General Department of Vietnam Customs, in the first five months of 2023, two-way trade reached about 116 million USD, up more than 80% year-on-year./.

Source: Vietnam News Agency

The 2023 ASEAN Family Day has been held in New York with the participation of nearly 1,000 staff members of permanent representative mission of ASEAN nations and their families as well as the ambassadors of China, Japan and the Republic of Korea to the United Nations as honourary guests.

The festival comprised sports competitions and art performances of ASEAN member countries. Each country also introduced their traditional dishes, with the Vietnamese embassy offering Pho (noodles with chicken or beef), Nem (fried spring rolls), Banh mi (Vietnamese style baguette with fillings) and coffee.

ASEAN Family Day is an annual event that aims to promote solidarity and friendship between ASEAN members through cultural, sport and culinary exchanges. It is organised in many cities all over the world by ASEAN diplomatic missions.

The Association of Southeast Asian Nations (ASEAN) groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam./.

Source: Vietnam News Agency

The State Bank of Vietnam (SBV) is cutting down a series of key interest rates by 0.25%-0.5% from June 19, which is expected to make a double impact on the economy thanks to stronger credit activities and higher liquidity.

According to experts, the four major reasons behind the SBV’s decision are Fed’s ending of interest rate hike after 10 consecutive increases, a downturn trend of inflation since February, the stable domestic currency demand and stronger liquidity of the banking system, and a drop in exports and investment in industrial production in May.

In the domestic market, the pressure on interest rates and exchange rates has been significantly eased. In fact, the interest rate level in Vietnam has decreased by 1%-1.5% and the USD/VND exchange rate even slightly decreased by 0.57% compared to the beginning of the year.

Dr. Nguyen Huu Huan from the Ho Chi Minh City University of Economics said that the SBV’s decision will create a boost to the economy, providing favourable conditions for the people and businesses to access capital at lower interest rates.

Associate Prof. Dr. Dinh Trong Thinh held that the SBV’s reduction of interest rates for four times in a row within only four months will enable commercial banks to cut their deposit interest and lending rates.

Thinh underlined that there is a high hope that the rates in the economy will return to the 2019 level by the end of this year, but with the reduction speed recorded recently, the scenario may happen by the end of the third quarter.

The reduction of the ceiling lending interest rate was also welcomed by businesses. Tran Duc Nghia, General Director of Delta International Company, said that the SBV’s move to reduce interest rates for the fourth time in a row will certainly bring down the lending interest rates, thereby reducing the loan cost for business. In particular, this is a reduction in operating interest rates, not a single interest rate reduction by a few banks, which means all businesses will benefit. More over, not only businesses, individual customers will also benefit from the reduced lending interest rates, which is expected to encourage consumption, production and business activities, resulting in a double impact on the economy, Nghia underlined.

SBV leaders said that the cut in interest rate ceiling for short-term VND loans will create favourable conditions for businesses and people to access low-cost loans for production and business in priority areas and key areas playing the role as a driving force for economic growth in accordance with the Government’s policy.

Nguyen Xuan Thanh, a senior lecturer of Fulbright University, said that although the operating rate has been reduced four times, it has yet to be enough to make an impact on the economy as the capital expenditures of banks are still high, while many firms have still had no access to capital.

Economist Can Van Luc held that inflation is not a really big problem now as world inflation and prices are falling, while the exchange rate has remained stable, along with weak demands and slow money cycle. But he still stressed the need to enhance the coordination efficiency among the policies, especially monetary, fiscal, price policies and other macro-economic ones to actively rein in inflation and ensuring macroeconomic stability.

Leaders of the SBV affirmed that the bank will continue to pay attention to dealing with the inflation pressure, while keeping a close eye on the domestic and global situation to direct credit organisations to cut cost and reduce lending interest rates so as to support businesses during the recovery and development process.

However, experts held that interest rate cut is not the “universal key” to “unlock” credit, promote cash flow, recover consumption, and boost economic growth. They pointed to the need for the stronger fiscal policies to encourage consumption and production, as well as the speeding up of public investment to support businesses and the economy./.

Source: Vietnam News Agency

Officials of Salavan province of Laos and central Thua Thien-Hue province of Vietnam have signed a Memorandum of Understanding (MoU) on cooperation in protecting forests, forest products and wildlife in the border areas of the two localities in the 2023-2028 period.

Under the document, the two sides will coordinate to prevent and control illegal logging, mining, wildlife hunting, and timber and wildlife trade along the shared border areas.

The localities will work on inspecting and supervising the import and export of forest products and wildlife, and educating local communities on the importance of forest management and protection, and wildlife conservation.

They are seeking funding from international organisations to restore wildlife populations that are on the verge of extinction.

According to Lao media, the two nations have had long-lasting cooperation in many development areas of Laos, especially in ago-forestry collaboration.

Last year, Vietnam and Laos agreed to strengthen comprehensive cooperation in agriculture, forestry, and rural development, focusing on applying technologies, training human resources and investing in trade development.

They have cooperated in a series of agro-forestry projects, including those to support agricultural and rural development and poverty reduction models in Houaphanh and Xiengkhuang provinces of Laos.

Vietnamese and Lao authorities are also developing a master plan for flood prevention and drainage to ensure food security in central Khammouane and Savannakhet provinces of Laos./.

Source: Vietnam News Agency