The Provincial People's Committee has approved the instructions for intensifying the management of investment from the State capital and the governmental bond capital. Illustration photo - Source: Internet Accordingly, establishing schemes, plans, programs and projects invested from the State budget capital and governmental bond capital have to closely stick to the targets and orientation of plans to develop economy and society in the five years from 2011 to 2015 of the province, agencies and localities, gradually adjust investment structure in the directions of reducing the specific gravity of state investment, intensify methods to motivate sources of capital from domestic and foreign economic components to invest in economic- social infrastructure to be able to revoke the capital. While the government has not adjusted the regulations about decentralized investment administration, agencies, branches and district level People's Committee must observe the … [Read more...] about Intensifying the management of investment from the State capital and the governmental bond capital
Investment year method
Overcoming housing shortfall to cost $130 billion over the next 10 years
The nation is facing an estimated shortfall of 1.3 billion square metre of housing between now and 2020 and will require US$130 billion to overcome it, according to the Ministry of Construction. The market gobbles up VND160 trillion ($8.4 billion) in capital every year to build 100 million square metre on new housing, the ministry said. The State budget provides VND150-200 billion ($8.1-10.4 million) of this figure each year, while commercial banks finance the lions share, providing a whopping VND150 trillion ($8.1 billion). Tran Kim Chung from the Central Institute for Economic Management said banks played the decisive role in providing capital for real estate development, since most developers are firms with a charter capital of VND6 billion ($324,000) or less each. Outstanding debt in the real estate development sector has therefore increased from VND55 trillion ($2.9 billion) in 2007 to VND150 trillion ($8.1 billion) last year, accounting for over 10 per cent of all outstanding … [Read more...] about Overcoming housing shortfall to cost $130 billion over the next 10 years
1,000 years of Thang Long – Hanoi festival and National Tourism Year 2010: golden opportunity for Hanoi to promote tourism
"The 1,000th anniversary of Thang Long - Hanoi festival and the National Tourism Year 2010 in Hanoi is a golden opportunity for the tourism sector in the capital to affirm its position and promote its cultural and historic values and landscapes from the land of 1,000 years of civilization to domestic and international visitors," Mr. Tran Van Tuan, head of the Vietnam National Administration of Tourism (VNAT), said. Take advantage of golden opportunity Currently, Hanoi has 213 hotels with 9,968 rooms, including 36 hotels reaching 3 to 5 star standards. To meet the demands of visitors who come to the capital during the 1000th anniversary of Thang Long - Hanoi, it is important to develop the hotel system, especially high-quality hotels. Mr. Ta Minh Hung, General Director of Thang Long GTC Co. Ltd. under the VNAT, said the lack of hotels, especially luxury hotels, will largely affect the tourism growth. Therefore, his company has focused on effectively exploiting residential services by … [Read more...] about 1,000 years of Thang Long – Hanoi festival and National Tourism Year 2010: golden opportunity for Hanoi to promote tourism
Thai Nguyen strongly invests in industry promotion
(VEN) - From positive results of industry promotion in previous periods, Thai Nguyen Province People's Committee decided to double the funding for the local industry promotion in the 2013-2015 period. Capital sources efficiently allocated According to the Agency for Regional Industry Development (ARID) under the Ministry of Industry and Trade (MOIT), Thai Nguyen is one of the localities which have quite dynamic and efficient industry promotion activities across the country. Over the past years, Thai Nguyen has used a large power resource on the local industry promotion. From 2008-2012, the province spent VND17.489 billion on industry promotion activities, of which the national funding was VND6.631 billion and the local funding was VND10.858 billion. From these capital sources, the Thai Nguyen Industry Promotion and Development Consultancy Center coordinated with the beneficiaries to deploy 158 projects, focusing on vocational training for 4.660 local rural workers with total funding of … [Read more...] about Thai Nguyen strongly invests in industry promotion
Transport sector wraps up a successful year
The Hanoi Times - At the year-end summation of the traffic and transport sector held today in Hanoi, PM Nguyen Tan Dung praised the sector's efforts and achievements gained in capital construction, traffic management, transportation capacity, and reducing the number of fatal traffic accidents. The Government chief also lauded the prompt capital disbursement of transport infrastructure projects, stressing that this is the most effective method to stimulate investment. In 2009, the PM stated, the sector should closely collaborate with relevant ministries, agencies, social organizations and non-State enterprises to improve transport quality. The sector should further speed up the disbursement of key transport projects. Moreover, it is advised to facilitate domestic investors to upgrade the transport infrastructure system for better roads, bridges, and sea ports. Finally, the PM ordered the sector to keep maintaining traffic safety as well as spare no effort to put the Government's five … [Read more...] about Transport sector wraps up a successful year