State acts on housing projects

Thoi Bao Kinh Te Viet Nam (Viet Nam Economic Times) talks with Nguyen Chi Dung, vice director of the capital's Construction Department, about slow progress on new housing developments. Could you explain the purpose of re-viewing projects in new residential areas and housing development in the capital city? In the last few years, the real estate market has been facing many difficulties due to the world and domestic economic slowdown. The municipal People's Committee has asked relevant offices and district authorities to review projects on new residential areas and housing developments in the city. The review aims at evaluating the projects and strengthening State management of the housing and real estate market. At present, many projects are behind schedule. Do you know why? Many projects were suspended for re-planning after the capital city's administration boundaries were enlarged several years ago. After the master planning of the enlarged city was approved, several projects … [Read more...]

US companies want to export fiber to VN

Representatives of US enterprises who met in HCM City recently said they wanted to supply materials for the garment and textiles industry in Viet Nam. The Frontier Company, which has five fiber factories in US with a capacity of 10 million tonnes of fiber a week, exports to American and European markets. More than 80 per cent of Viet Nam's fiber used in the industry is imported from China and India. Sai Gon Giai Phong (Liberated Sai Gon) Thua Thien–Hue industry attracts investors During the first nine months of this year, industrial parks in Thua Thien–Hue attracted eight investment projects and 11 projects registered to increase their investment capital. The investment is estimated at VND3.3 trillion (US$146.6 million). The industrial parks have attracted 94 investment projects with total funds of VND22.9 trillion (over $1 billion). Three other projects worth VND700 billion ($31.1 million) are under consideration by the province. Thoi Bao Kinh Te Viet Nam (Viet Nam … [Read more...]

Dong Nai attracts $1.8b worth of FDI

According to the southern province of Dong Nai's Department of Planning and Investment, the province attracted $1.83 billion worth of foreign direct investment (FDI) in the first nine months of this year, a rise of 54 per cent over the same period last year and 183.5 per cent of the year's target. Of the figure, 78 new projects were licensed with total registered capital of more than $1.35 billion, and 77 projects have added capital of $483 million. THOI BAO KINH TE VIET NAM (VIETNAM ECONOMIC TIMES) Can Tho sets up tourism development centre Can Tho has opened a Tourism Development Centre separate from the Can Tho Investment Trade Tourism Promotion Centre, the city's vice chairman Le Van Tam said on Wednesday. The centre is located at 98 Phan Dinh Phung Street in Ninh Kieu District. It is under the management of the Mekong Delta city's Department of Culture, Sports and Tourism. According to Nguyen Hoang On, director of the centre, said travel firms in the city served more than … [Read more...]

HCM City has 24 gridlock-prone points

HCM City has 24 spots highly prone to traffic jams, the HCM City Traffic Safety Committee said on Tuesday. To resolve this, besides the Department of Transport and traffic police, district administrations should also prevent the encroachment of roads and pavements in front of public places like hospitals, schools and markets, Bui Xuan Cuong, director of the department, said. The department has been speeding up transport works like the Rach Chiec Bridge and Hong Ha and Bach Dang roads. Tuoi Tre (Youth) Ca Mau lifts Khmer homes out of poverty Nearly 1,200 poor Khmer households in the Cuu Long (Mekong) Delta province of Ca Mau have escaped poverty since 2011, according to the province's Ethnic Minority Affairs Committee. Local authorities have taken many measures like providing vocational training and soft loans to poor Khmer households and housing and farming land for more than 1,400 families. Ca Mau has more than 7,800 Khmer families. Nhan Dan (The People) Gov't projects help … [Read more...]

Buon Ma Thuot’s six-lane road begins

Construction started on Thursday (Sept 24) on the six-lane Dong Tay (East West) road, the most modern of its kind in Buon Ma Thuot in the Central Highlands province of Dak Lak. With a length of 6,900 metres, the road starts at the Le Duan – Dinh Tien Hoang intersection. The road connects with National Road 27, which leads to the Buon Ma Thuot airport. With total investment of VND998 billion (US$44 million), the road with a width of more than 58 metres, is invested in by Buon Ma Thuot City's People's Committee, which is expected to be finished after 32 months of construction. NHAN DAN (THE PEOPLE) Binh Dinh sets up coconut association The central province of Binh Dinh's People's Committee has issued a decision to establish the Hoai Nhon Coconut Association, which has been approved by the province's Department of Home Affairs. It will be under the management of Hoai Nhon District's People' Committee. The association aims to strengthen linkages among businesses, organisations … [Read more...]

Phu Quoc Airport to be leased to Vietnamese businesses only

VietNamNet Bridge - The Phu Quoc International Airport will be leased to Vietnamese businesses under operation and maintenance contracts for 30 years. The biggest change in the project on leasing the airport of ACV (Airports Corporation of Vietnam) is that the concept ‘commercial concession’ has been replaced by ‘leasing’, according to Thoi Bao Kinh Te Viet Nam. Phu Quoc Airport now ranks fifth of all airports in Vietnam in terms of revenue. Earlier this year, the Ministry of Transport (MOT) announced it was considering offering concessions to investors in Phu Quoc airport and part of Noi Bai airport in an aim to attract capital to other airport projects. This was part of a plan to call for public capital to develop airport infrastructure. Meanwhile, MOT, in a document to the Communist Party’s Politburo in May 2015, the word ‘commercial concession’ was still used. Explaining the change, an expert said that "leasing" was the right word … [Read more...]

Long An registers 660 new businesses

In the first eight months of this year, Long An Province registered 660 businesses, with total investment capital of VND7.5 trillion (US$330 million). It saw an increase of 193 businesses and VND4.4 trillion ($200 million) compared to the same period last year. During the same period, the province issued investment licences for 52 domestic projects with total capital of VND5.8 trillion ($263 million). Dau Tu (Viet Nam Investment Review) More than 27,000 join literacy classes In the 2014-15 academic year, as many as 27,000 people nationwide joined literacy classes and 12,786 people continue studies afterwards, according to meeting held by the Ministry of Education and Training and Viet Nam Study Encouragement Association on Tuesday in Ha Noi. The literacy rate for people aged 15-35 was 98.69 per cent; aged 15-60 was 97.73 per cent. In the coming time, the ministry will continue to ask localities to promote literacy in remote and disadvantaged areas. Nhan Dan … [Read more...]

Ha Noi opens waste treatment factory

A waste treatment plant opened on Thursday in Dan Phuong District's Phuong Dinh Commune in Ha Noi. The plant, which uses Martin technology from Germany, combusts waste to produce power. It has a total investment of VND270 billion (US$12.2 million) and a processing capacity of 300 tonnes of waste per day. The plant is expected to meet demand for waste treatment in Dan Phuong, Hoai Duc and Quoc Oai districts and in industrial parks and craft villages. NHAN DAN (THE PEOPLE) Number of tourists to city on the rise HCM City welcomed 334,353 tourists in August, an increase of 8 per cent over the same period last year. The number of foreign tourists to the city reached 2.83 million in the first eight months of the year, a rise of 8 per cent year-on-year, according to Thai Van Re, director of the city's Department of Planning and Investment. The city has earned VND60.7 trillion ($2.7 billion) from tourism since the beginning of the year, an increase of 4 per cent over the same period last … [Read more...]

The right wages are the key to satisfaction, development

Vice President of the Viet Nam Chamber of Commerce and Industry (VCCI), Hoang Quang Phong, talks with Thoi Bao Kinh Te Viet Nam (Vietnam Economic Times) about the effect of the minimum wage rise. Can you explain why the Viet Nam General Confederation of Labour, at the National Wage Council's first working session earlier this month, said that a regional minimum wage rise of 10 per cent proposed by VCCI could not meet the needs of labourers? The VCCI's first proposed wage increase was six to seven per cent. This is a reasonable rise, which properly demonstrates enterprises' competitiveness. However, after further discussions and after taking into account other factors affecting employ-ee's living standards, the VCCI decided to put forward a minimum wage increase of 10 per cent. A 10 per cent rise in the minimum wage will help enterprises ensure their survival and make sustainable development, thus creating more jobs. A recent survey by the VCCI shows that enterprises are facing many … [Read more...]

Import-export laws changed as VN adjusts to int’l rules

Pham Thanh Binh, a representative from USAID Governance for Inclusive Growth (USAID GIG) talks to Thoi Bao Kinh Te Viet Nam (Viet Nam Economic Times) about adjustments made to import and export laws. Are amendments to export and import tax laws necessary? After 10 years of implementation of the laws, amendments are truly essential if Vietnam is to meet requirements for development and international integration. Viet Nam has joined several free trade agreements (FTAs) in the past few years, which means the country will have to follow international rules in order to participate equally in the world market. Besides, the amendment could support the Government's resolutions on business and environmental reform, and increase our nation's competitiveness. Drafts of the two laws are up for public comment. Do you think the offered adjustments will work in reality? The adjustments generally seem like they will lift obstacles that have burdened businesses for a long time. However, the … [Read more...]

Credit growth rises over 8%

Nguyen Tien Dong, head of the Credit Department at the State Bank of Viet Nam talks with Thoi Bao Kinh Te Viet Nam (Vietnam Economic Times) about credit allocation. Could you explain more about credit growth? Total bank credit growth in Viet Nam reached 8.3 per cent in August compared to same period last year. The highest growth of 19 to 20 per cent was registered in lending to businesses applying hi-technology. This was followed by 10.9 per cent growth in the property sector and 8.6 per cent in the agricultural sector. Recently, some people said that the State Bank of Viet Nam had permitted commercial banks to expand total credit to try and reduce the ratio of non-performing loans. What is your comment? This is a baseless assumption. Under regulations, commercial banks whose ratio of non-performing loans exceeds three per cent of the total outstanding loan won't be permitted to increase credit. More credit was given to commercial banks having bad debts amounting to about one per … [Read more...]

Provinces to tackle dengue fever

The Ministry of Health has asked provincial health departments across the country to promote dengue fever control and prevention measures among households and businesses. More than 19,700 dengue fever cases in 47 cities and provinces have occurred this year, a year-on-year drop of 32.2 percent. Twelve people have died. The cities and provinces with the highest number of cases include Khanh Hoa, Dong Nai, Binh Duong, Ba Ria-Vung Tau, HCM City, Soc Trang, Long An, Dong Thap, An Giang and Dak Nong. Nhan Dan (The People) Viet Nam's export turnover rises 9.5 per cent Viet Nam's export turnover reached US$92.3 billion in the first seven months of this year, an increase of 9.5 per cent compared to the same period last year, according to the Ministry of Industry and Trade. Of the figure, domestic businesses earned $27.6 billion, a year-on-year fall of 1.7 per cent. The export revenue of seafood, coffee and rice fell by 15 per cent, 33 per cent, and 8.7 per cent, respectively. Nguoi Lao … [Read more...]

Ban lifted on Australian fruit

Viet Nam is set to resume import of oranges, mandarins and grapes from Australia on August 1, seven months after it stopped buying Australian fruits due to a fruit fly outbreak there. Hoang Trung, deputy head of the Plant Protection Department, said Vietnamese agencies, through inspection trips to Australia, had found that the three fruits met plant quarantine conditions. Another 35 Australian fruits remain in the black list and Viet Nam has yet to make a decision about allowing them in again, he said. Thanh Nien (Young People) Women's Union holds jobs fair The HCM City Women's Union on Wednesday inaugurated the Seventh Women's Job Festival and the 2015 Launching Viet Nam Products Festival at the Le Thi Rieng Cultural Park, District 10. The festivals have attracted nearly 30 companies, who are seeking to hire more than 4,000 workers in various fields and provide vocational training for poor women. The festivals will go on until July 26. Nguoi Lao Dong (Labourer) Local products … [Read more...]

VN students win gold at math Olympiad

Vu Xuan Trung and Nguyen The Hoan from high schools in Ha Noi and Thai Binh Province won gold medals at the International Mathematics Olympiad (IMO) in Chiang Mai, Thailand, yesterday, according to the Ministry of Education and Training. The ministry sent six students to the contest, and all of them have won top prizes. The IMO, a world mathematics competition for high school students, is held in a different country every year. The first IMO was held in 1959 in Romania, with seven countries participating. This year the event attracted countries like Australia, Canada, India, the UK, and the US. Thanh Nien (Young People) H1 trade deficit tops $3b The June trade deficit of US$140 million took Viet Nam's first half deficit to US$3 billion, the General Department of Viet Nam Customs reported on Wednesday (July 15). In the period imports rose 16.7 per cent year-on-year to $80.8 billion. In June exports rose by 4.6 per cent month-on-month to $14.3 billion even as imports edged down to … [Read more...]

Thua Thien-Hue supports ethnic groups

The Thua Thien- Hue Province People's Committee has approved a plan to support housing land, farming land and clean water for poor and near-poor ethnic households in especially difficult villages in 2015. Poor and near-poor ethnic households who have not provided with housing land, farming land and clean water will benefit from the plan. Under the plan, each household will be allotted a minimum of 200sq.m of housing land. Households that cannot access a water supply system will be given VND1.3 million (US$60) each to build a water tank and dig wells. Nhan Dan (The People) Illegal sand mining causes river erosion Eight newly eroded sites along rivers and canals have been identified in HCM City's outlying districts since May, according to the HCM City Inland Waterway Authority. Cu Chi District accounts for four of the eroded sites while Can Gio, Nha Be, Thu Duc and 2 districts each account for one site. Illegal sand mining was the cause of erosion. The city has a total of 45 … [Read more...]

Property sales up in first half

The Housing and Real Estate Market Management Department said there were 14,000 successful housing transactions in the country in the first half of the year. Ha Noi saw some 1,650 transactions in May, up 5 per cent from April, and that rose to 1,750 in June. The capital should thus record around 7,500 transactions in the first half, a 2.5-fold increase from the first half of 2014. In HCM City, there were more than 1,600 transactions in May, nearly 6 per cent higher than in April, and June numbers are estimated at 1,700. Thoi Bao Kinh Te Viet Nam (Viet Nam Economic Times) HCM City hosts seminar on treating anemia A seminar on the latest advances in treatment of anaemia due to chronic kidney disease was held recently in HCM City by the HCM City Nephrology Association in co-operation with Hoffmann – La Roche. Doctors pointed out the importance of anaemia management in the early stages of chronic kidney disease and diabetic nephropathy and said anemia should be treated early … [Read more...]

Cooking gas price drops by VND3,500

The Southern Gas Branch has announced that its business members have reduced the retail price of gas by VND3,500 per 12-kilo container from July 1, due to the global gas price dropping by US$12.5 per tonne. The highest retail price of common cooking gas is H-gas, selling for VND268,500; Saigon Petro VND285,000; PetroVietnam Gas VND287,000; Petrolimex VND292,500; and VT-Gas 295,500. Nguoi Lao Dong (Labourer) Bac Giang sells 85 per cent of litchi output Tran Van Loc, director of Bac Giang Province's Department of Industrial and Trade, said the province had sold 159,500 tonnes of litchi, accounting for 85 per cent of the total output. Of the amount, 84,000 tonnes were bought in the domestic market, the remaining was exported, including to markets in China, the US, France, Australia, England, Malaysia, and Laos. Luc Ngan District, the largest litchi area of the province, is still in the harvest season. Its production is estimated to reach 118,500 tonnes. Tin Tuc (News) Mega-project … [Read more...]

New law aims to protect best interests of children: official

Dao Hong Lan, Deputy Minister of Labour, Invalids and Social Affairs explained to the newspaper "Thoi bao Kinh te Viet Nam" (Vietnam Economic Times) the process of revising the Law on Child Protection. * What are the most important points contained in the draft revised law? It is proposed that the name of the law be changed to the Law for Children. It will have five chapters, one more than the current law. A major change in the draft law is the definition of a child as a person under 18, not 16 as defined in the 2014 law. In the 2014 Law on Child Protection, Care and Education, neither the participation rights of a child is comprehensively or specifically covered, nor solutions or measures to ensure their rights are implemented. But the draft law dedicates one chapter on the child's rights and measures to ensure rights are respected and implemented. The chapter is a step to institutionalise the words in the 2013 Constitution: "Children have the right to participate in children's … [Read more...]

Korean firms eye Thanh Hoa investment

Representatives of the Korea Chamber of Commerce and Industry, Korea Trade Centre, and Korean businesses held a meeting with Vietnamese business executives in Thanh Hoa Province on Wednesday. It was aimed at helping businesses from the two countries find partners and explore investment opportunities in the province for Korean businesses. The two sides also signed a memorandum for developing bilateral trade co-operation. DAU TU (VIET NAM INVESTMENT REVIEW) City to reward outstanding young citizens The HCM City Communist Youth Union has announced its annual Young Citizen Award for people with outstanding achievements in the fields of education, technology, arts and culture, military, and social work. People under 30 who work and live in the city are eligible for the awards. Candidates can send their nominations to the union in District 1 by October 9. TUOI TRE (YOUTH) More than 1m people get free healthcare More than 1 million people across the country have received free health … [Read more...]

Authorities adopt an ‘iron fist’ in effort to tackle smuggling

Minister of Public Security Tran Dai Quang talks with Thoi Bao Kinh Te Viet Nam (Viet Nam Economic Times) about anti-smuggling activities. In recent years, police, army and customs have been fighting smuggling, trade fraud, and fake products. But results have not been as good as expected. How do you evaluate the situation? Fights against smuggling, trade fraud and fake goods are considered one of the Government's most important tasks. In recent years, they have made some achievements. However, the trade in smuggled and copied goods - especially petrol, coal, cigarettes, sugar, diet supplements and electronic products - is still rampant. Criminals have become more and more artful. They set up big organisations in key regions that are difficult to root out. I believe that to make more progress, the fight should be strengthened with well-trained anti-smuggling forces using high technology equipment. Do you think police have performed their role well? Our priority is to complete … [Read more...]