Vietnam listed among Top Asian countries for best quality of life

Wednesday, 22/11/2023 17:15
The nation was ranked in the list of the 12 Asian countries with the best quality of life, as compiled by Insider Monkey, a finance website focusing on financial markets, hedge funds, and insider trading, according to VOV News.

The country duly ranked 12th among Asian countries with the best quality of life, reporting a Human Development Index (HDI) of 0.703 as of 2021.

Photo for illustration. (Source: VOV)

According to details given by the World Bank (WB), the nation reported a Government Effectiveness rating of 59.43% in 2022. The Economic Freedom Index rating of the county stood at 61.80 as of 2023.

Insider Monkey’s rating for Vietnam is therefore 60.615 out of 100.

Singapore took the lead with Insider Monkey rating it 91.95 out of 100. The Top 5 of the list consists of Japan, the Republic of Korea, the United Arab Emirates, Brunei, and Qatar.

Elsewhere, Malaysia, Bahrain, Indonesia, Saudi Arabia, Bhutan, and Vietnam make up the list of 12 Asian countries with the best quality of life.

According to information given by Insider Monkey, Asia is a diverse region with some of its countries showing significant progress in terms of enhancing the quality of life.

However, Asian countries must increase their investments, efforts for appropriate demographic planning, and launch initiatives for gender equality to transition from poverty and underdevelopment to a state of security, well-being, and enhanced quality of life.

The website noted that although these challenges withstand the progress of Asia, many countries throughout the region have implemented progressive strategies in a bid to enhance the quality of life by making efforts for increased GDP; enhanced public purchasing power; and improved access to economic, welfare, and service resources.

Ca Mau province to host first-ever shrimp festival

At the press conference to announce the Ca Mau shrimp festival (Photo: VNA)

Vietnam News Agency has reported that the southernmost province of Ca Mau will organise the first-ever shrimp festival and One Commune, One Product (OCOP) connection forum from December 10-13, said Director of the provincial Department of Agriculture and Rural Development Phan Hoang Vu.

At a press conference on November 21, he highlighted that an array of activities will be held to promote the images and brands of local shrimp and OCOP products.

The opening ceremony will take place on December 10, with a stellar art programme that spotlights the beauty of Ca Mau and its and people.

Besides, the festival will feature around 400 booths showcasing shrimp and OCOP products.

Other events held within the framework of the festival include a trade, investment and tourism promotion forum, a conference to promote the trade of OCOP products in the Mekong Delta, and a workshop to seek measures for sustainable shrimp development.

Workers are packaging shrimps. (Photo: VNA)

Ca Mau is now home to 280,000 hectares of shrimp breeding, accounting for 40% of the country’s shrimp farming area. The shrimp output reaches more than 220,000 tonnes per year, equivalent to 22% of the country’s total.

The shrimp industry provides livelihoods for more than 600,000 people, or half the province’s population.

Garment sector sees signs of recovery

Garment and textile firms are urged to flexibly implement measures to bring into full play market opportunities and promote growth, so as to fulfil the set goal of over 40 billion USD in export revenue this year, according to Vietnam News Agency.

In the first 10 months of this year, total value of garment and textile exports reaches more than 33 billion USD (Photo: VNA)

In the first 10 months of this year, total value of garment and textile exports reached more than 33 billion USD, down 12.45% year-on-year. In October, the sector saw a sign of recovery when earning 3.2 billion USD from exports, up 5.28% month-on-month, and 2.96% year-on-year.

The US is currently Vietnam’s biggest apparel importer, accounting for over 40% of the market share, followed by Japan, the EU, the Republic of Korea, and China.

According to insiders, in the gloomy picture of the market over the past 10 months, the only silver lining is high growth from countries participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) such as Japan, Canada, Australia, and New Zealand.

In addition, the country has gained access to several new markets in Africa and the Middle East, which is expected to help keep the industry's export turnover from decreasing deeply in the context of sharp reductions in global market demand.

Illustrative image (Photo: VNA)

General Director of Vietnam Textile and Garment Group (Vinatex) Cao Huu Hieu said that in the fourth quarter, market signs become more positive when the frequency of customers coming to learn about the source of goods and production capacity is the driving force for garment firms to introduce their products and offer suitable prices to win orders for the coming period.

Regarding tasks for the last month of 2023, experts advised businesses to re-organise production to increase labour productivity, meet small orders, and arrange appropriate human resources to optimise labour costs.

Chairman of Vietnam Textile and Apparel Association (Vitas) Vu Duc Giang emphasised that businesses must quickly change themselves and adapt to market fluctuations.

He stressed the need to organise vocational skills classes and human resources training for green and digital transformation, in order to improve labour productivity and competitiveness.

In addition, it is necessary to retain customers by accepting small orders, while promoting the exploitation of new markets and reducing costs to step up production and business activities, and boost growth, added Giang./.