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Vietnam news in brief - January 23
Read the Hanoi Times for more updates about Vietnam.

Hanoi kindergarten and elementary kids take a day off in cold weather

Hanoi students go to school in cold weather. Photo: Hanoimoi newspaper

Kindergarten and primary school students in Hanoi took a day off today (January 23) due to extremely cold weather.If parents are unable to keep their children at home, schools are offering the option for kids to be supervised on-site. To ensure continuity in education, some schools have shifted to online teaching methods for the day.

Kindergarten and elementary schools will be closed if the temperature falls below 10oC while the secondary schools will halt operations if the temperature is below 6oC.

Transport Ministry eyes to complete 130km of highways in 2024

The Ministry of Transport targets to complete building and put into operation some 130km of highways in 2024. The ministry also plans to soon fulfill the construction and upgrade of waterways that lead into Thi Vai – Cai Mep and Nam Nghi Son ports.

In 2024, the ministry will take drastic measures to ensure the progress of key mass infrastructure projects such as the Ring Road No.4 – Capital Region, the Ring Road No.4 in Ho Chi Minh City, Long Thanh International Airport, and Terminal 3 of Tan Son Nhat International Airport.

Proposal to build six more parks in Ho Chi Minh City

The Department of Construction of Ho Chi Minh City has proposed the construction of six additional parks with a total area of nearly 800 hectares in Thu Duc City, Cu Chi District, District 12, Binh Tan District, and Binh Thanh District, according to a report sent by the department to the city's People's Committee regarding the development of parks and public green spaces in the area.

The city aims to increase the public parkland area by an additional 150 hectares, equivalent to 0.65 square meters per person, during the 2020-2025 period. At least 54 projects with an estimated total investment of over VND9 trillion ($364.6 million) need to be implemented. As of now, eight projects have been completed and proposed for investment approval.

Eleven low-carbon projects selected to join the CFA Program

On January 22, the Climate Finance Accelerator (CFA) Vietnam announced 11 innovative low-carbon projects selected to participate in the program’s second phase. These projects are seeking a total investment of US$436 million. The selected projects come from various sectors such as clean energy and energy transition, electric transportation, AFOLU (agriculture, forestry, and other land uses), circular economy, and waste management, which have the potential to benefit communities across Vietnam.

The CFA is a £11.8 million (US$15 million) technical assistance program, sponsored by the UK’s International Climate Finance (ICF).

ADB supports Vietnam in accessing loans with the highest incentives

The Asian Development Bank (ADB) intends to sponsor 23 projects in Vietnam during the period 2024-2026, with a total value of US$4 billion. These projects are aimed at promoting green and sustainable economic development. The Ministry of Finance is hopeful that ADB will support Vietnam in accessing the most preferential sources of capital. Deputy Minister of Finance Le Tan Can has requested ADB's assistance in finding non-refundable aid sources to mitigate the impact of fluctuating SOFR interest rates worldwide on the loans.

US$35 million needed for the Industrial Development Program until 2025

Deputy Prime Minister Tran Hong Ha has recently signed a decision to amend and supplement various aspects related to the industrial development support program for the period 2016-2025. The total anticipated capital for these activities is US$35 million, with the state budget contributing US$30 million and other sources providing US$5 million.

The objective of this program is to encourage supporting industry enterprises to evolve into product suppliers for both domestic and foreign customers, as well as to attract foreign investment in supporting industries.

China dominates Vietnam’s mobile phone and component market

The General Department of Customs reported that in 2023, China dominated the phone and component supply to Vietnam, valued at $7.2 billion (83% market share), while Vietnam's phone imports totaled over $8.7 billion, reflecting a 58.6% decrease from the previous year.

In 2022, South Korea was the leading supplier with $11.4 billion (54% market share), followed by China with $8 billion (38% market share). Vietnam also imported from Hong Kong (China) ($21 million), Taiwan (China) ($11.8 million), and the US ($9.8 million) last year.

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