Deputy Minister of Transport Nguyen Nhat said at a forum Friday that the public-private partnership (PPP) model would be adopted for them and global accounting companies Deloitte and Ernst & Young would help review the financial structure of the projects and prepare bid invitations and contracts. The forum attracted 100 local investors and 50 from South Korea, Japan, China and other countries. "The process of selecting investors has been researched thoroughly, complying with Vietnamese and foreign laws to guarantee fairness, competitiveness and transparency." Nguyen Viet Huy, deputy head of the Ministry of Transport’s public-private partnership department, said government funds for land acquisition have been allocated and local authorities would be responsible for acquiring land. Huy said 80 investors have collected bidding documents for the projects, many from Japan, South Korea and China, and more are likely to join them in the next two months. But the government has … [Read more...] about Vietnam seeks investment in North-South Expressway
North korea currency
The Hanoitimes - The sanctions leave direct impact on North Korean economy shown through a sharp decline in exports last year. What are visions for the denuclearization after second no-deal summit? The failure of the second Trump-Kim summit in Hanoi suggests sanctions remain a big issue between the US and North Korea, foreign media quoted international experts as saying. The UN Security Council votes to adopt a resolution imposing sanctions against North Korea. Photo: Getty Images North Korean nuclear negotiator Kim Yong Chol told Secretary of State Mike Pompeo in May 2018 that Pyongyang’s shift away from weapons was “not a result of sanctions that have been imposed from outside.” But in July 2018, Seoul-based Bank of Korea estimated the North Korean economy had seen its biggest decline in two decades, with the country’s real annual gross domestic product (GDP) falling by 3.5% in 2017 while exports declined 37.2% in 2017 alone. … [Read more...] about How much do US-led sanctions hurt North Korea economy?
The highly-anticipated meeting between the two leaders -- which will be the second time the pair have come together following their Singapore summit in June -- is scheduled for Hanoi, Vietnam, on February 27-28. Attention has been focused on whether the U.S. team will offer to lift some economic sanctions on North Korea, in return for Pyongyang taking concrete steps toward denuclearisation. "It is time for us to tighten our shoe strings and run fast, looking for a higher goal as we face this decisive moment," the Rodong Sinmun newspaper said in an editorial. "Our country is facing a significant, historic turning point," it added, without explicitly referencing the summit. Earlier this month, U.S. President Trump tweeted that North Korea will become a "great Economic Powerhouse" under Kim. "He may surprise some but he won't surprise me, because I have gotten to know him & fully understand how capable he is," said Trump. The Rodong Sinmun commentary called on North Koreans to make … [Read more...] about N. Korea faces ‘historic turning point,’ says state media ahead of summit
The North Koreans, including Kim Jong Un's de-facto chief of staff, had arrived in Beijing and were expected to board a plane bound for the Vietnamese capital Hanoi, South Korea's Yonhap news agency said, with the high-stakes meeting now less than two weeks away. "A group of 12 North Koreans, including Kim Chang Son, were on the boarding list," Yonhap said, citing a source in the capital. Kim Chang Son was part of the team overseeing protocol in the run up to the first Trump-Kim summit and Yonhap said the delegation was expected to have discussions with U.S. officials on the logistical preparations for the Hanoi meeting. The identities of the 11 other officials were not reported. Pyongyang has yet to provide any official confirmation of the Feb 27-28 summit, which will be the second time the two leaders come together following their June 12 Singapore meeting. That produced a vaguely-worded document in which Kim pledged to work towards denuclearisation -- with no hard timeline … [Read more...] about North Korea officials en-route to Vietnam ahead of Trump-Kim summit
The United States on Wednesday (Oct 17) again declined to call China a currency manipulator but said the yuan's fall and Beijing's exchange practices were of "particular concern." File photo of US Treasury Secretary Steven Mnuchin at the IMF/WB Annual meetings in Nusa Dua, Bali. (Goh Chai Hin/AFP) In putting Beijing and five other US trading partners on notice, the Treasury again refrained from escalating a fight over China's currency as US President Donald Trump had once pledged to do on the campaign trail. "Of particular concern are China's lack of currency transparency and the recent weakness in its currency," Mnuchin said in releasing a twice-yearly report to Congress on how country's manage exchange rates and trade. "These pose major challenges to achieving fairer and more balanced trade and we will continue to monitor and review China's currency practices, including through ongoing discussions with the People's Bank of China." In Wednesday's report, the Treasury also … [Read more...] about China not manipulating currency but lacks transparency: US