Since June 19, public-private-partnership (PPP) investment projects have been implemented according to Decree 63/2018/ND-CP (Decree 63). This decree, was signed by the Prime Minister on May 4, replaces Decree 15, which was in effect from April 10, 2015. Decree 63 prescribes the fields, conditions, order and procedures for investment in the form of PPP. Deputy Minister of Planning and Investment Vu Dai Thang talks with Thoi bao Kinh te Viet Nam (Vietnam Economic Times) about this issue. An important point of Decree 63 is that the proportion of investors’ equity capital required to move forward with PPP projects will be raised from 15 per cent to 20 per cent. Why were these figures selected? In fact, the implementation of Build-Operate-Transfer (BOT) projects in the past shows that the investment capital ratio of 15 per cent did not prove investors’ financial ability to complete the projects. Therefore, during the process of revising Decree 15, we decided to raise the cap to … [Read more...] about Gov’t to raise State contributions in PPP projects
Kinh te viet nam
Vietnamese banks boost IT use
Viet Nam has big potential in applying 4.0 technology to develop retail banks and payment utilities.– Photo vietnambiz Viet Nam has big potential in applying 4.0 technology to develop retail banks and payment utilities. The Industry 4.0 trend involves a wave of digitalisation, changing the business models and activities of many banks. Nguyen Dinh Tung, general director of Orient Commercial Bank (OCB), said the participation of digital banks would be helpful for domestic and international enterprises when doing business and investing in Viet Nam. Banking transactions could become quick and easy and could be done anywhere without needing to visit traditional branches, Tung told Thoi bao Kinh te Viet Nam (Viet Nam Economic Times). Investment in digital technology by Vietnamese banks would be a revolution for all customers, he added. The Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) was recently awarded SWIFT’s Global Payment Innovation Initiative … [Read more...] about Vietnamese banks boost IT use
Hanoi’s craft villages lack skilled labourers
Children visit a pottery workshop (Photo: tripi.vn) Hanoi (VNS/VNA) – Traditional craft villages of Hanoi are facing a shortage of labourers, especially skilled workers, reported Kinh te Viet Nam & The Gioi (Vietnam and World Economy) Magazine. Right now, the city has more than 1,350 traditional craft villages, 45 per cent of total villages nation-wide. The villages in Hanoi are staffed by 176,000 households creating stable jobs for 740,000 workers. However, there is a shortage of skilled workers. According to Nguyen Nhu Dien, owner of Son Linh Leather Footwear Workshop in Phu Xuyen district, he has a lack of workers. This, he says, is because many rural labourers have quit their jobs to work in industrial zones where they could earn more money and enjoy better social benefits. The shortage of skilled labourers is one of the main reasons the villages’ products are not selling well, due to low quality and poor designs. Phu Vinh Rattan and Bamboo Weaving … [Read more...] about Hanoi’s craft villages lack skilled labourers
Viet Nam spends $194 million on pesticides
Viet Nam spent US$194 million to import pesticides and raw materials in the first three months of this year. — Photo laodong.vn Viet Nam spent US$58 million to import pesticides and raw materials in March, lifting total imports of the commodities in the first three months of this year to $194 million. The imports mainly came from China, accounting for 54.2 per cent of the total value, Thoi bao Kinh te Viet Nam (Viet Nam Economic Times) reported. Imports of pesticides from the UK, Malaysia and India also increased sharply in the first months of the year, rising 80 per cent, 51.5 per cent and 26.3 per cent, respectively, from the same period last year. According to statistics from the Department of Plant Protection, Viet Nam currently has about 1,700 pesticide active ingredients with 4,080 goods. However, there are only about 2,000 products in the market, of which 20 per cent are bio and herbal remedies. The rest are still in the list but have little or no foothold in the market. … [Read more...] about Viet Nam spends $194 million on pesticides
Telecom revenues down in first quarter
MobiFone Corporation reported a year-on-year increase of 6.3 per cent in revenue in the first quarter of the year.— Photo MobiFone The revenue of Vietnamese network operators has suffered an uncharacteristic low in the first quarter of this year due to new legislation reducing top-up promotions for pre-paid subscribers from 50 per cent to 20 per cent. The reduction of the promotion was put into force last month. The country’s three biggest network operators reported their business results for the first quarter at a meeting held by the Ministry of Information and Communications on Wednesday. The Viet Nam Posts and Telecommunications Group (VNPT) said that its business plan for the first three months of the year has many changes from previous years. The group has altered promotions for its mobile services. Whereas before subscribers could claim back 50 per cent of their top up in the first three months of the year, that number is now just 20 per cent. As a result subscribers … [Read more...] about Telecom revenues down in first quarter