President Truong Tan Sang works with Ninh Binh military command

(VOVworld) – President Truong Tan Sang worked with the Army corps No.1 and the Military Command of Ninh Binh province on Sunday. He urged them to promote party building and mass mobilization work to improve the status of the Party and the military in society. President Truong Tan Sang visited the Army Corps No.1 in Ninh Binh province (photo: Hoang Dung) Sang urged the provincial military command to focus on training and building forces, improve mass mobilization work, evaluate the situation, and promptly make advice to the provincial Party Committee and administration to ensure national construction and defense. On Saturday, President Truong Tan Sang worked with the authority of Dac Nong province and visited Nhan Co Alumina plant. He urged Dac Nong province to successfully implement resolutions of the 12th Party Congress and prepare for the elections of the 14th National Assembly and People’s Councils for the 2016-2021 term. … [Read more...]

Transport ministry urged to move forward with new airports in central Vietnam

An undated photo of an aircraft at Phu Quoc Airport. Photo credit: Saigon Times Online Two provinces in central Vietnam are growing impatient and have decided to press the Ministry of Transport to speed up the development of their airport projects. News website Dau Tu reported on Friday that Dak Nong's government has recently sent a letter to the ministry, requesting it to start drafting a plan to build an airport for middle and small aircraft, including helicopters, in Nhan Co Commune. The plan should be finished by this June 30 so the airport can be ready in 2020, the province said in the letter, its second this year. Dak Nong expects Nhan Co airport to be a boost for investment, especially for its backbone sector of aluminum production, according to the news website. Meanwhile, Quang Tri has also asked the transport ministry to approve a plan to build a domestic airport, so it can move forward with the next steps, Dau Tu reported. According to the plan submitted in 2012, the … [Read more...]

National Road project fails scrutiny

State Audit of Vietnam (SAV) has found violations in almost all steps of the National Road 20 build-transfer (BT) project. According to SAV, the violations were identified in the preparation for investment, capital mobilisation, bidding, and receiving the finished components. To avoid stringent measures, the violations should be corrected before the whole project is received. The VND5.26 trillion ($236 million) project to renovate National Road 20 between Km0+00 and Km123 +105, spanning across Dongnai and Lam Dong provinces, is the first infrastructure project that borrows foreign capital to be carried out in the BT format. The equity put forward by investors is VND601 billion ($27 million), while the rest of the capital was borrowed by the project company from a group of foreign financial institutions represented by Goldman Sachs. According to Notice no. 65/TV-KTNN issued by SAV, dated January 25, 2016 on the results of the audit, the primary violation was an overestimation of … [Read more...]

Environment Ministry worried for mineral overexploitation in Mekong Delta

Plans to evaluate mineral reserves and marine natural resources and to help residents better adapt to climate change nationwide - especially in the Mekong Delta region, the area predicted to suffer the most from climate change – are high up on the Ministry of Natural Resources and Environment's agenda this year. Minister Nguyen Minh Quang announced the priorities at a recent press conference to outline the environment sector's targets this year. Quang said the country's natural resources were expected to be effectively managed when the detailed evaluation was released. At present, the country was facing many environmental issues triggered by the overexploitation of minerals. According to a report released at the fifth National Environment Conference last October, the environment is facing serious pollution due to mineral exploitation that discharged wastewater and solid waste. In the coastal central Binh Thuan Province, there are 67 sites exploiting titanium, however only … [Read more...]

Environment Ministry worried for mineral overexploitation in Delta

HA NOI (VNS) — Plans to evaluate mineral reserves and marine natural resources and to help residents better adapt to climate change nationwide - especially in the Cuu Long (Mekong) Delta region, the area predicted to suffer the most from climate change – are high up on the Ministry of Natural Resources and Environment's agenda this year. Minister Nguyen Minh Quang announced the priorities at a recent press conference to outline the environment sector's targets this year. Quang said the country's natural resources were expected to be effectively managed when the detailed evaluation was released. At present, the country was facing many environmental issues triggered by the overexploitation of minerals. According to a report released at the fifth National Environment Conference last October, the environment is facing serious pollution due to mineral exploitation that discharged wastewater and solid waste. In the coastal central Binh Thuan Province, there are 67 sites … [Read more...]

Deputy PM: coal sector must ensure national energy reserve

Deputy Prime Minister Hoang Trung Hai has asked the coal sector to prioritise coal production for domestic use, thereby ensuring the stability of national energy reserve. During a conference convened by the Vietnam National Coal and Mineral Industries Group (Vinacomin) in Hanoi on January 14 to review its 2015 activities and launch 2016 tasks, he requested Vinacomin increase exploration and mining using advanced and eco-friendly technologies. It was required to devise cost-effective business plans, and solutions to climate change, while further promoting personnel training and improving the livelihoods of workers. In order to extract 55 million tonnes of coal by 2020, the sector is expected to expand 10 mines and open 40 additional pits. Dang Thanh Hai, Vinacomin General Director, said Vinacomin plans to earn more than VND110 trillion from selling 38 million tonnes of coal, 1.2 million tonnes of which is for export. Imported coal is estimated at 1.5 million tonnes. Vinacomin … [Read more...]

Coal output for domestic use urged

HA NOI (VNS) — Deputy Prime Minister Hoang Trung Hai has asked the coal sector to prioritise coal production for domestic use, thereby ensuring the stability of the national energy reserve. During a conference convened by the Vietnam National Coal and Mineral Industries Group (Vinacomin) in Ha Noi yesterday to review its 2015 activities and launch 2016 tasks, he requested Vinacomin to increase exploration and mining using advanced and eco-friendly technologies. It was required to devise cost-effective business plans, and solutions to climate change, while further promoting personnel training and improving the livelihoods of workers. In order to extract 55 million tonnes of coal by 2020, the sector is expected to expand 10 mines and open 40 additional pits. Dang Thanh Hai, Vinacomin general director, said Vinacomin plans to earn more than VND110 trillion ($4.8 billion) from selling 38 million tonnes of coal, 1.2 million tonnes of which is for export. Imported coal is estimated … [Read more...]

Power switched on at hydropower plant

The Dong Nai 5 Hydropower Plant started operation on Sunday to help meet power demand of the coal and mineral sectors in the Central Highlands. — VNA/VNS Photo Trong Dat HCM CITY (Biz Hub) — The Dong Nai 5 Hydropower Plant, owned by a subsidiary of the Viet Nam National Coal and Mineral Industries Group, went on stream on Sunday in the Central Highlands province of Lam Dong. Vinacomin-Power Holding Corporation's VND6.11 trillion (US$271.6 million) facility includes two turbines of 150MW each. It is one of the key projects in the Government's Power Development Master Plan VII, which focuses on meeting the electricity needs of the Central Highlands' coal and mineral sectors, especially the Lam Dong Aluminium Bauxite Project and Nhan Co-Dak Nong Aluminium Project. The turbines were connected to the national grid on September 30 and November 13, both months ahead of schedule. Doan Van Viet, chairman of the province People's Committee, told the inauguration ceremony that … [Read more...]

Central Highlands province to revoke six project licences

Dray Sap waterfall. DAK NONG (Biz Hub) — The Central Highlands Dak Nong Province will revoke the investment licences of six tourism projects because of their slow commencement of work. Deputy Director of the provincial department of culture, sports and tourism Bui Quang Mich said the six ecotourism investment projects, with a total registered capital of VND1 trillion (US$47.6 million), were to cover an area of 900ha, but the investors were yet to start construction. Gia Long waterfall. He said Dray Sap-Gia Long and Fairy Fall Ecotour projects were the largest projects with total investments of VND700 billion ($33.3 million). He said the province has invited powerhouses to take the place of the delayed construction projects. According to the province's investment promotion centre, the Viet Nam National Coal and Mineral Industries Group has registered capital of VND722 billion ($34.4 million) for its Nhan Co bauxite project. Trinh Nu waterfall. — File Photos Last … [Read more...]

Conflicts of Interest in Resource Tax Hike

Giving justifications to the draft resolution on amendments and supplements to the Resolution 712 of the Standing Committee of the National Assembly on promulgation of resource tax rates, an official from the Ministry of Finance said the rationale is to guarantee State budget revenue when the realisation of AFTA commitments is approaching. Meanwhile, related businesses pointed out that the tax rise will negatively affect them. Mr Pham Dinh Thi, Director of Tax Policy Department under the Ministry of Finance, said, according to negotiation process and signing of free trade agreements (FTAs), the time that Vietnam has to abolish export taxes in line with FTA commitments is very close. As soon as export duties are scrapped to meet international promises, the State budget revenue will be undoubtedly affected while the exploitation of natural resources for export is likely to increase, thus giving rise to domestic material shortages. "Therefore, it is necessary to review and adjust … [Read more...]

Roadmap for Natural Resource Tax Hike Needed to Avoid Investment Environment Instability

"Rapidly changing resource tax and charge policies are attributively destabilising operations of enterprises and blemishing the investment climate. As the reduction in a series of import tariffs affects budget revenue, the hike in natural resource tax is necessary to ensure budget revenue. However, a clear roadmap needs to be gradually carried out and extended to avoid disorder and instability on the investment environment." This is the remark by Ms Huong Vu, a representative of Tax Working Group of Vietnam Business Forum, at a meeting in Hanoi that collected business opinions for the completion of a resolution on natural resource tax rates drafted by the Standing Committee of the National Assembly. Royalty rates hiked on most minerals Pham Dinh Thi, Director of Tax Policy Department under the Ministry of Finance, said although Resolution 712/2013/UBTVQH13 dated December 16, 2013 effectively discourages the exploitation of non-renewable resources and ensures effective exploitation … [Read more...]

Firms, ministry at odds over proposed resource tax hike

Tu Giang Mineral mining in northern Vietnam. Mining companies criticize the Ministry of Finance’s proposal for a higher natural resource tax at a conference in Hanoi on September 8 - PHOTO: TTXVN The conference was held by the Vietnam Chamber of Commerce and Industry after the ministry proposed higher and wider ranges of taxes for natural resources. The ministry said it had asked relevant ministries and localities to comment on a draft resolution on natural resources which would replace Resolution 712/2013/UBTVQH13 issued by the National Assembly Standing Committee on December 16, 2013. In the draft resolution, most tax rates on mineral exploitation are revised up 2-12%. In particular, the tax for iron is proposed at 7-20% compared to the current 12%. The proposed and current tax for titanium, gold, wolfram and antimony, copper, and nickel are 7-20% and 16%, 9-25% and 15%, 7-25% and 18%, 7-25% and 13%, 7-25% and 10% respectively. Meanwhile, the tax for aluminum and … [Read more...]

Breakfast @ Tuoi Tre News – September 9

Good morning from Vietnam, readers! Check out what is in the news today: Society -- Hoang Duc Hanh, deputy head of the Hanoi Department of Health, told a meeting on Tuesday that the number of patients contracting dengue fever in the capital has soared in the past two months. The mosquito-borne tropical disease caused by the dengue virus had affected 1,537 residents as of September 6. Meanwhile, doctors have observed an unusually sharp rise in dengue fever cases in Ho Chi Minh City and several southern provinces, with multiple casualties recorded. -- Transport Minister Dinh La Thang has just signed a decision to form three inspector teams tasked with monitoring the management and listing of fares among local transport firms and airlines. -- Colonel Duong Thanh Hai, head of the Road and Railway Traffic Police Office in the southern province of Dong Nai, confirmed to Tuoi Tre (Youth) newspaper on Tuesday that he had suspended three police officers from work. On Friday last week, … [Read more...]

Deputy PM reviews socio-economic development of Dak Nong

Deputy PM Nguyen Xuan Phuc addressing the working session (Photo: VNA). NDO – Deputy Prime Minister Nguyen Xuan Phuc held a working session with key leaders of Dak Nong province on August 3 to review socio-economic development as well as defence and security maintenance in the locality over the first eight months of the year. According to a report released by the provincial People’s Committee, Dak Nong has gained positive achievements in socio-economic growth since the beginning of this year with a budget collection of VND 994 billion (US$ 44.2 million), an increase of 11% over the same period last year. The implementations of major projects throughout the province, including the expansion and upgrading of Ho Chi Minh road, the construction of Nhan Co aluminum plant and the Dak Nong aluminium smelting plant, which are expected to boost economic development, are still on track. Infrastructure for education and rural areas has been improved whilst administrative … [Read more...]

Dak Nong: Hundreds of homes lose main-road access

Hundreds of homes lose main-road access More than 400 households in Nhan Co commune in the Dak R'Lap District of Dak Nong Province are complaining that their main road has been incorporated into the Nhan Co industrial complex. Illustrative image -- File photo Truong Dinh, a commune resident, said that the industrial complex had made the life of his family and others difficult. "It is now hard for us to move around and transport goods. We are disturbed by the dust when it is windy and by muddy road when it rains. Many people have fallen because the road surface is rough", Dinh says. Many households have sent a request to the Nhan Co commune's People's Committee to ask for financial compensation and a new way to approach their homes. This has become a pressing need as the new school year has approached and hundreds of children have to go to and from school daily. The communal People's Committee has asked Dak Nong's Urban zone managing board to resolve difficulties for … [Read more...]

Hundreds of homes lose main-road access

DAK NONG (VNS) — More than 400 households in Nhan Co commune in the Dak R'Lap district of Dak Nong province are complaining that their main road has been incorporated into the Nhan Co industrial complex. Truong Dinh, a commune resident, said that the industrial complex had made the life of his family and others difficult. "It is now hard for us to move around and transport goods. We are disturbed by the dust when it is windy and by muddy road when it rains. Many people have fallen because the road surface is rough", Dinh says. Many households have sent a request to the Nhan Co commune's People's Committee to ask for financial compensation and a new way to approach their homes. This has become a pressing need as the new school year has approached and hundreds of children have to go to and from school daily. The communal People's Committee has asked Dak Nong's Urban zone managing board to resolve difficulties for inhabitants. Ho Si Diep, deputy director of the managing board … [Read more...]

Test run begins at Nhan Co

DAK NONG (VNS)— The Nhan Co bauxite refinery plant in the Central Highlands province of Dak Nong is running test productions through the end of September, said Project Management Board Head Nguyen Thanh Liem said on Thursday. Constructed within a 65-ha mine, the plant is designed to process more than 1.8 tonnes of ore each year. The mine has ore reserves of about 60 million tonnes, which are capable of supplying bauxite for the aluminium production plant for 30 years. Viet Nam National Coal and Mineral Industries Holding Corporation Limited (Vinacomin) started building the plant in 2013 at a total cost of VND900 billion (US$41.2 million). It consists of an ore refinery plant and a 5km conveyor belt covered by corrugated iron to protect the environment. Once fully operational, the plant will offer about 150 jobs. — VNA … [Read more...]

Test run underway at Nhan Co bauxite ore plant

Nhan Co bauxite plant in the central highlands province of Dak Nong. (Photo: VNA) The Nhan Co bauxite refinery plant in the Central Highlands province of Dak Nong is running test productions through the end of September, said Head of the project’s management board Nguyen Thanh Liem on July 30. Constructed within a 65-hectare mine, the plant is designed to process more than 1.8 tonnes of ore each year. Ore reserves at the mine are estimated at around 60 million tonnes, capable of supplying bauxite for the aluminium production plant for 30 years. The bauxite plant was initiated by the Vietnam National Coal and Mineral Industries Holding Corporation Limited (Vinacomin) on September 15, 2013 at a total cost of 900 billion VND (41.2 million USD). It consists of an ore refinery plant and a 5-kilometre conveyor belt covered by corrugated iron to protect the environment. Once fully operational, the plant will offer about 150 employment opportunities for local residents, … [Read more...]

Vinacomin wants environment fee on bauxite projects slashed

Lan Nhi Bauxite is exploited for processing at Nhan Co alumina plant in Dak Nong Province - PHOTO: THAO NGUYEN Vinacomin made the proposal at a meeting held in Quang Ninh Province last week to discuss new regulations on the environmental protection fee for mining activities though the ministry turned down such a proposal for several times in the past. The current environmental protection fee on bauxite projects varies from VND30,000 to VND50,000 a ton at different localities but Vinacomin wants it to be cut to VND4,000 a ton. However, the ministry said the fee of VND4,000 per ton is equal to that for projects exploiting soil and sand for production of building materials. Earlier, Vinacomin asked the ministry and the government of Lam Dong Province to reduce the environmental protection fee on Tan Rai alumina plant but its proposal was denied. Vinacomin bemoaned the current environmental protection fee applicable to its projects is too high as bauxite mining leaves little … [Read more...]

State budget cannot bear debt burden of SOEs

VietNamNet Bridge - The Ministry of Finance (MOF) has to advance $1 billion to pay debts for state-owned enterprises (SOEs) which cannot pay debts because of big losses. While public debts have increased rapidly, SOEs are still asking the government to guarantee their commercial loans worth billions of dollars. The latest MOF report to the National Assembly on the government use of loans showed that foreign debts guaranteed by the government reached $2.44 billion in 2014, up by 22 percent. This means that the government-guaranteed foreign debts have reached VND234.939 trillion, accounting for 52 percent of the government-guaranteed total debts and 10 percent of total public debts. Of the eight projects which borrowed foreign loans with the government’s guarantee, there are six power projects, including the Thai Binh 2 thermal power plant developed by PetroVietnam ($937 million) and the Lai Chau hydropower plant ($300 million). The first private invested power project … [Read more...]