Road fee hike raises complaints

Transport enterprises oppose the Ministry of Transport's decision to raise fees on the HCM City–Trung Luong Highway by 50 per cent from June 1. Two flyovers on the highway have not been built due to a lack of capital. One flyover would run from provincial road No 10B and another from Tran Dai Nghia road to Tan Tao–Cho Dem. The new fees would be applied from June 1 to August 31, 2018. Fees for cars with less than 12 seats will increase from VND40,000 (US$2) to VND60,000 ($2.5). For 12-seat to 30-seat buses, the fee will rise from VND60,000 ($3) – VND90,000 ($4.5). Fees for trucks over 18 tonnes with 40-feet containers will increase from VND240,000 ($12) to VND360,000 ($18). According to estimates from the Ministry of Transport, the increased fee would bring VND620 billion ($30 million), along with VND325 billion ($15.5 million) from selling fee collection rights to the Yen Khanh Trade–Production–Service Ltd company. That would be enough to pay for … [Read more...]

Vietnam materials industry urged to reduce reliance

Pham Xuan Duong, deputy head of the Party's Central Committee’s Economic Commission, told Thoi Bao Kinh Te Viet Nam (Vietnam Economic Times) why the country spends so much on imports. Q: A lot has been said about the issue that Vietnam depends too much on imported materials for local production. There is no proper answer to the problem. Can you explain the situation? A: Studies indicate that sectors including energy and mechanics already have their own development plans and strategies. For instance the power sector has been able to satisfy the country's demand for local production and consumption, thanks to a resolution made by the Political Bureau and a scheme launched by the government. However, we don't have a specific development strategy for the materials manufacturing sector, but only a general strategy, mainly for the construction materials sector such as cement and steel. This is why we have to import a lot of materials. Our recent survey showed that factories … [Read more...]

Vietnam boosts labour exports

VietNamNet Bridge – Viet Nam aims to send 90,000 guest workers abroad in 2015, deputy director of the Overseas Labour Management Department Tong Hai Nam told Thoi Bao Kinh Te Viet Nam (Viet Nam Economic Times). Illustrative image -- File photo Last year was a successful year for Vietnam in sending guest workers abroad. Will you please explain why? In 2014, although the world's economy still faced many difficulties, the number of Vietnamese guest workers working abroad increased in a big way, particularly to Japan and Taiwan. Vietnamese guest workers have improved their skills considerably - and their knowledge of foreign languages and discipline. In addition, the Government has made some adjustments in policies to enable more guest workers go abroad. Due to the prolonged economic crisis, the demand for foreign guest workers in many countries in 2014 was low. This led to fierce competition among labour-export countries. Viet Nam also faced some problems with guest workers. … [Read more...]

Footwear sector takes steps into New Year

HA NOI (Biz Hub) — A successful 2014 and the promise of bigger export opportunities has given the domestic leather and footwear industry the confidence to set a US$14 billion export target for this year. Phan Thi Thanh Xuan, general secretary of the Viet Nam Leather and Footwear Association (Lefaso), told Viet Nam News that the new target marked a year-on-year increase of 15 per cent. She said last year was a successful year for the industry, with its presence in 47 global markets seeing the total leather, footwear and handbags exports rise 22.5 per cent over 2013 to $12.74 billion, accounting for 8.5 per cent of the nation's total export turnover. Impending Free Trade Agreements (FTAs) and the Trans-Pacific Partnership (TPP) will attract new investments into Viet Nam's leather and footwear industry, she said. "We think the agreements will create remarkable growth in export turnover in the coming years," Xuan said, explaining that the ensuing reduction in tariff barriers … [Read more...]

Tay Ninh plans 11 social housing projects

Low-income earners have chance to own their own flats thanks to social housing projects. (Photo: VNA) To meet the housing demand of low-income earners, the southern province of Tay Ninh will build seven social housing projects with 2,385 units to supply accommodation for nearly 10,000 people, and four others with over 2,000 rooms for nearly 20,000 workers at industrial parks. The 11 projects will cost nearly 2.13 trillion VND (99.9 million USD), of which 16 billion VND is from the provincial budget and the rest from investors, reported Thoi Bao Kinh Te Viet Nam (Vietnam Economic Times). The province will speed up detailed zoning plans for these projects, pay all costs for site clearance, and invest in infrastructure.-VNA … [Read more...]

January CPI seen edging down

Buyers shop at Co.op Mart in HCM City. The CPI in January will fluctuate slightly and see a minor reduction. — VNA/VNS Photo Thanh Vu HA NOI (Biz Hub) — The Consumer Price Index (CPI) in January will fluctuate slightly and see a minor reduction, the Price Management Department under the Ministry of Finance, forecast. January is the month before the Tet holiday, so prices in the local market are affected by some factors, including production demand, processing and consumption of goods for the Tet festival, while purchasing power experiences solvency at the end of the year, which pressures prices, the department pointed out. However, there will be some positive factors supporting the stability of the local market and price increases will be controlled, including a slight decrease in prices of essential goods and materials in the global market, the department said. In the domestic market, ministries, provinces/cities and enterprises will collaborate in preparation for … [Read more...]

HN aims to ensure stable Tet prices

Customers browse products at a Hapromart in Gia Lam District, Ha Noi. — VNA/VNS Photo Tran Viet HA NOI (Biz Hub) — Ha Noi businesses have stocked up and developed trade promotions to stabilise the market and boost consumption during the Tet holiday, a Ha Noi Industry and Trade Department official said. At a meeting of the industry and trade sector of Ha Noi on Tuesday, Tran Phuong Lan, deputy director of the department, said most enterprises in the capital city have actively planned to increase their goods inventory by 10 to 15 per cent or VND16 trillion (US$774.2 million) for the Tet holiday, the Thoi bao Kinh te Viet Nam (Viet Nam Economic Times) newspaper revealed. The supply will meet up to 70 per cent of the city's demand, and will include 4,000 tonnes of rice, 900 tonnes of pork, 450 tonnes of poultry, along with 200 tonnes of seafood, 1.5 million litres of cooking oil and 1,500 tonnes of vegetables. Supermarkets, such as Big C, Metro, Citimart, Le's market, Coop … [Read more...]

FDI expected to surge in 2015

An electronics spare part production line at Tenma Company in the northern province of Bac Ninh's Que Vo Industrial Park. — VNA/VNS Photo Thai Hung HA NOI (Biz Hub) — Foreign direct investment (FDI) in Viet Nam is forecast to increase significantly this year, as many large FDI projects are expected to be issued licences in the next few months. The Thoi bao Kinh te Viet Nam (Vietnam Economic Times) newspaper quoted a source from the Economic Zone Management Authority (EZMA) of Binh Dinh as saying that the central province is scrutinising the Nhon Hoi oil refinery complex (also known as Victory Project). The project is expected to be issued an investment licence before the Lunar New Year (falling on February 19). If the licence is issued as per EZMA's plan, the FDI capital in Binh Dinh this year will far exceed the capital that the province attracted last year, as the investment capital of the Nhon Hoi project alone is estimated at US$22 billion. Also, Nhon Hoi is not … [Read more...]

SBV to persist with exchange rate policy

The State Bank of Vietnam (SBV) is expected to continue its current exchange rate stabilisation policy next year following the hefty benefits it derived from the strategy this year. The present exchange rate stabilisation policy has amassed a considerable surplus of US$8 billion in the general balance. To date, the detailed policy for next year has yet to be revealed. However, SBV Governor Nguyen Van Binh has thus far affirmed that the exchange rate of the Vietnamese dong against the US dollar next year will be managed flexibly to ensure the value of dong and increase the national foreign currency reserves. A source from the central bank told the Thoi Bao Kinh Te Viet Nam that dong depreciation, if it occurs, will not be higher than 2% next year. The exchange rate policy next year will have insignificant changes compared with that of the past four years, the source said. The central bank employee added that the rate will accordingly fluctuate within 2%, which also occurred in … [Read more...]

Prices of essential goods to be stabilised: ministry

Prices of essential goods, including rice, sugar, milk and fertilizer, are expected to be stable in the future due to high supply. — Photo Vietpress HA NOI (Biz Hub) — Prices of essential goods will be stable by the end of this year and beyond, according to the Finance Ministry's Price Management Department. The department said this month that many factors could contribute to the reduction of the pressure on prices, reported the Thoi bao Kinh te Viet Nam (Viet Nam Economic Times) newspaper. Price reduction of some essential goods in the world market and the recent declines of domestic petrol prices on November 22 and December 6 would also contribute to the decrease of the prices of other goods, it said. Some goods also saw a decreasing trend in prices, including transport fees, food, sugar and milk products for children under six. Cement rates have declined as well. However, the department said that prices might go up by the end of December and early 2015 due to high … [Read more...]

Long An to build irrigation works

Under a long-term programme upgrading local irrigational systems, the southern province of Long An's People's Committee will spend more than VND13 trillion (US$565 million) from different capital sources, including VND3 trillion ($130 million) from ODA (official development assistance) capital, to build and upgrade irrigation works in the Dong Thap Muoi area. The programme aims to benefit local farmers who use 298,000 hectare of cultivated land. Thoi Bao Kinh Te Viet Nam (Vietnam Economic Times) Quang Binh supports people in flooded areas More than 3,880 households living in flooded areas of Quang Binh Province will receive loans as part of a preferential loans programme worth VND220 billion (US$9 million) from the local government from now to 2016. Under the project, each family will receive VND12 million-16 million ($520-$690) in loans with the interest rate of 3 per cent a year for 10 years to upgrade or build a house. Sai Gon Giai Phong (Liberated Sai Gon) HCM City launches … [Read more...]

Moc Chau moves to boost tourism

The Prime Minister has approved a plan to develop the Moc Chau Tourism Area in the northern mountainous province of Son La by 2020. Under the plan, the tourism area targets visitors from the Hong (Red) River Delta and Northern midland and mountainous region. Its foreign markets include Western Europe, North America and Northeast and Southeast Asia. The area is also expected to welcome 1.2 million tourists by 2020, and 3 million by 2030, including 50,000 foreign visitors. Its revenue is targeted at VND1.5 trillion (US$71.4 million) by 2020, and VND6 trillion ($272 million) by 2030. THOI BAO KINH TE VIET NAM (VIETNAM ECONOMIC TIMES) MARD expects produce export growth The Ministry of Agriculture and Rural Development said fruit and vegetable exports were expected to reach $1.4 billion for the year. The biggest importers of Vietnamese fruits and vegetable are China, Japan and South Korea. The export turnover to China is expected to total $321.48 million, a year-on-year increase of … [Read more...]

240,000 City workers uninsured

Around 40,000 enterprises in HCM City failed to offer compulsory social insurance and health insurance to their employees, leaving nearly 240,000 workers uninsured, according to the city's Social Insurance Agency. Cao Van Sang, director of the agency, said that local authorities and social insurance offices at district and ward levels were responsible for inspection of small enterprises who employ only several workers. Sang said that local authorities should compile a list of enterprises that did not comply with regulations and send it to the city's People's Committee. The companies should be fined, he said. Tuoi Tre (Youth) State employees to enjoy nine-day Tet holiday The Ministry of Labour, Invalids and Social Affairs has proposed a four-day New Year holiday for State employees between January 1 and 4. State employees will also enjoy a nine-day holiday to celebrate Tet (Lunar) New Year between February 15 and 23 if the proposal is approved. Sai Gon Giai Phong (Liberated Sai … [Read more...]

Tay Nguyen needs culture preservation policy

The Tay Nguyen (Central Highlands) region should have proper policies to preserve its written language, gongs, festivals and costumes, said experts at a seminar held in Phu Yen Province on Monday. The region needs to focus on protecting the living environment and teaching ethnic culture in schools, they said. The seminar was held by the Central Committee for Publicity and Education, the Tay Nguyen Region Steering Committee, the Oriental Research Development Institute and the Phu Yen Province People's Committee. Nhan Dan (The People) Many consumers wary of online purchases Forty-four per cent of internet users in Viet Nam have never bought goods online because they are afraid of possible risks or low quality, heard a seminar held by the Ministry of Industry and Trade's Electronic Commerce and Information Technology Department and the Viet Nam Electronic Commerce Association. Consumers buy clothes the most, followed by mobile phones, electronic products and books. Tin Tuc … [Read more...]

Quang Ninh to plant medicinal garden

The Ministry of Health on Sunday set up a steering committee for the project "Yen Tu national garden for preserving and developing medicinal plants". The garden will stretch from Dong Trieu District, Yen Tu Mountain, Ba Che and Binh Lieu districts. Yen Tu, which will be the centre of the national park, has many medicinal plant gardens with hundreds of indigenous plants. The northern province has more than 600 precious medicinal plants. Lao Dong (Labour) Binh Duong opens worker support centre The Binh Duong Province Communist Youth Union on Sunday opened a centre to support young workers in Ben Cat Town's My Phuoc Industrial Park. The 15,400-sq.m centre, which cost VND95.7 billion (US$4.6 million), has a kindergarten and facilities for consulting services, art performances, sport activities. Of the province's nearly 900,000 workers, most are young and are natives of other provinces. Tuoi Tre (Youth) Prices of essential goods fall in HCM City The prices of many essential goods … [Read more...]

Quang Ninh receives farming assistance

The Ministry of Agriculture and Rural Development will provide 50 tonnes of chlorine to help the northern province of Quang Ninh fight disease outbreaks among shrimp. According to the provincial animal health office, diseases last month destroyed more than 26 hectares of white-legged shrimp farmed in Tien Yen, Uong Bi and Quang Yen districts. THE SAIGON TIMES DAILY Dong Nai attracts $1.2b worth of FDI The southern province of Dong Nai this year has attracted US$1.27 billion worth of foreign direct investment (FDI), or over $400 million higher than the year's target, according to the province's Department of Planning and Investment. This includes 66 new projects with an investment of $546.7 million and 65 projects with added capital, for a total added investment of $725.7 million, according to the department. THOI BAO KINH TE VIET NAM (VIET NAM ECONOMIC TIMES) VN, Cambodia, Thailand to open sea tours A delegation of travel firms from Thailand and Cambodia visited Ha Tien Commune … [Read more...]

Children, teachers get quality helmets

Quality helmets have been provided to more than 4,000 students and teachers at eight elementary schools in HCM City's Districts 12, Binh Thanh, and Binh Chanh under a road safety campaign. The campaign is organised by the National Traffic Safety Committee, Ministry of Education and Training, and Asia Injury Prevention Foundation. Thoi Bao Kinh Te Viet Nam (Viet Nam Economic Times) More workers sent abroad this year According to the Overseas Labour Management Department, the number of workers sent abroad reached 91,143 in the first 10 months of this year, or 4.76 per cent higher than the full-year target. It said 7,774 workers left in October, with the largest numbers going to Taiwan (3,878) and Japan (1,784). Nguoi Lao Dong (Labourer) Quang Tri approves resettlement project The central province of Quang Tri has approved the first phase of a project to build a resettlement area for people requiring to be moved immediately out of storm- and landslide-prone areas in Ta Rut … [Read more...]

No easy fix for overloading

Dealing with overloaded trucks requires balancing the interests of many, General Secretary of Viet Nam Logistics Business Association Tran Huy Hien told Thoi Bao Kinh Te Viet Nam (Vietnam Economic Times) There has been rising concern about overloaded vehicles on the roads and their possible impacts, but several people have said that the problem cannot be solved soon. What is your opinion? I think that the management of overloaded vehicles should be improved soon in order to better maintain traffic infrastructure and make businesses comply with the law. One of the impacts frequently mentioned is the downgrading of traffic infrastructure by overloaded vehicles. How would you respond to that? It would not be a fair assessment to hold overloaded vehicles as the only reason or main reason responsible for the downgrading of traffic infrastructure. Road maintenance and construction quality are other factors that have to be considered. Transport companies pay a lot to the traffic … [Read more...]