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Vietnam's Mekong Delta to receive nearly $400 million to combat climate change
The World Bank has pledged $310 million to help nine provinces in the Mekong Delta to combat adverse weather conditions that have led to saltwater intrusion, coastal erosion and flooding.
“Recent extreme weather in the Mekong River Delta, including drought and salinity intrusion, are negatively affecting the lives of the farmers – most of them are poor,” said Achim Fock, acting country director for the World Bank in Vietnam.
The project will work on a reciprocal basis with the Vietnamese government committing $72.5 million while sourcing $2.4 million from the private sector. It is expected to build climate resilience and ensure sustainable livelihoods for 1.2 million people living in nine Mekong Delta provinces.
Vietnam’s annual rice exports of $4 billion account for more than one fifth of the global total. The Mekong Delta alone contributes half of Vietnam’s rice output, 70 percent of its aquaculture products and one-third of Vietnam’s gross domestic product.
However, the region has also been identified as one of the deltas most vulnerable to the impacts of climate change as well as upstream development.
The Ministry of Planning and Investment forecasts that about 45 percent of the Mekong Delta will be affected by saltwater intrusion by 2030 if hydropower dams and reservoirs continue to stop water from flowing downstream.
Vietnam, ROK promote trade and investment
The meetings between the Vietnamese delegation, headed by Minister Tran Tuan Anh, and the ROK delegation, led by Minister Joo Hyung-hwan, aimed to discuss and handle the unresolved issues in an effort to promote bilateral trade and investment relations on the basis of equality and mutual benefits, taking into account the differences in development level between the two countries. Concluding the meetings, the two sides signed the minutes and issued a joint statement. In the minutes of the… chat_bubble_outline Read More...
Nha Trang tourism services worried about sudden rise in Chinese tourists
VietNamNet Bridge – The need for hotel rooms by Chinese in Nha Trang, a famous tourist destination in Vietnam, has soared, causing concern among service providers."The situation is very tense. Chinese visitors occupy almost all rooms of 3 star or more hotels. The room occupancy rate in Nha Trang is sometimes up to 100%. Where will Vietnamese tourists stay? This is a situation that has never happened here," manager of a travel firm in Nha Trang said.Some hotels are not opened yet but are fully… chat_bubble_outline Read More...
Seoul plans to restart talks on military pact with Tokyo
SEOUL, South Korea (AP) — South Korea plans to restart talks with Japan over a military intelligence sharing agreement to better cope with threats from North Korea, an official said Thursday.Information from Japan's network of satellites and other intelligence-gathering systems would be critical in monitoring and preparing against North Korea's fast developing nuclear weapons and missile programs, the official from Seoul's Defense Ministry said. He didn't want to be named, citing office… chat_bubble_outline Read More...
Vietnam’s planning minister says growth target challenging but attainable
Construction workers ride on a motorized concrete-mixing machine vehicle as they make way to a construction site in the outskirts of Hanoi on June 9, 2017. Photo by AFP/Hoang Dinh Nam Minister of Planning and Investor Nguyen Chi Dung has said the economic growth target of 6.7 percent for this year is a tough goal but it can still be achieved. Addressing skeptical lawmakers in Hanoi on Friday, the minister said it's important for the Vietnamese economy to keep expanding at a fast pace, or it… chat_bubble_outline Read More...
Eurozone agrees debt relief for Greece amid IMF row
Brussels (AFP) - Eurozone finance ministers on Monday approved new debt relief measures to alleviate Greece's colossal debt mountain in the wake of its huge 86-billion-euro bailout, but at levels far short of those demanded by the IMF."The Eurogroup endorsed today the full set of short-term measures," including extending the repayment period and an adjustment to interest rates, the eurozone's 19 finance ministers said in a statement.The ministers accorded Athens the small measures to reduce… chat_bubble_outline Read More...