The government has grand designs for agriculture In addition to Decree No.57/2018/ND-CP of the government on the mechanisms and policies required to attract investment into agricultural and rural development issued on April 17, 2018, the government has assigned the Ministry of Planning and Investment (MPI) to formulate a Draft Circular on guiding the implementation of the decree to guide private sector investment into the agricultural sector and rural development. According to the draft circular, the portfolio of projects investing into agricultural and rural development will prioritise projects using local materials or employing a staff of more than 100. Projects producing environmentally friendly mechanical products, agricultural equipment, spare parts and auxiliary products will also be prioritised. The state will allocate at least 5 per cent of its annual investment development capital to implement this policy. Local budgets will also set aside at least 5 per cent for the … [Read more...] about New policy to lure investment into agricultural and rural development
Policy formulation
Cement exports surge due to China policy change
(VEN) - Vietnam has exported more than 15 million tonnes of cement in the first six months of 2018, a sharp increase of 50 percent over the corresponding period last year. Strong increase According to the Building Materials Department under the Ministry of Construction, Vietnam consumed a total of 8.71 million tonnes of cement in June this year, up 30 percent over the same period in 2017. Of that figure, approximately 6.91 million tonnes of cement were sold domestically, up 29 percent over the same period in 2017 and 1.8 million tonnes of cement were shipped abroad, an increase of 35 percent over the same period in 2018. In the January-June period, Vietnam was estimated to consume 51.42 million tonnes of cement, up 25 percent over the same period last year, equivalent to 61 percent of the yearly target. Notably, cement exports continued to advance with 15.42 million tonnes shipped abroad in the six-month period, meeting 85.6 percent of the year's plan and up 30 percent over the … [Read more...] about Cement exports surge due to China policy change
Improved rules, policies needed to protect marine resources
Deputy Minister of Natural Resources and Environment Tran Quy Kien speaks at a conference in Hanoi on July 11 to review the performance of the Vietnam Administration of Seas and Island in the first half of 2018. (Photo: baotainguyenmoitruong.vn) Hanoi (VNA) – Deputy Minister of Natural Resources and Environment Tran Quy Kien has stressed the need to continue reviewing, evaluating and improving policies, regulations, strategies and planning schemes involving the management of natural resources and protection of marine environment. There must be special attention paid to formulating legal documents on this matter, said Kien at a conference in Hanoi on July 11 to review the performance of the Vietnam Administration of Seas and Island (VASI) in the first half of 2018. Speaking at the event, VASI Director General Ta Dinh Thi said from January – June, the VASI directed its member units to promptly build legal documents and planning schemes on use of marine resources; and … [Read more...] about Improved rules, policies needed to protect marine resources
Support industry development needs policy boost
(VEN) - Despite the many incentives and other policy tools adopted by the government to boost support industries over the past decade, domestic enterprises have met only10-15 percent of the demand for parts and components for Vietnam’s manufacturers. Support industry enterprises should be assisted in market access and initial investment Support industry manufacturers serving the engineering industry have to import 70 percent of materials they need. According to the Vietnam Association of Mechanical Industry (VAMI), there are about 3,100 engineering enterprises with 53,000 manufacturing facilities nationwide, but they are unable to meet the domestic market need. Although Vietnam annually spends tens of billions of dollars on importing machinery and equipment, domestically made mechanical products have reached a domestic market share of only seven percent. In 2007, the Ministry of Industry (now the Ministry of Industry and Trade) approved a master plan for … [Read more...] about Support industry development needs policy boost
MoIT prepares to forge industrial development policy
(VEN) - Top officials met recently in Hanoi to discuss implementation of a Politburo resolution designed to turn Vietnam into a leading industrial nation. Resolution 23-NQ/TW issued in March 2018 pertains to the formulation of a national policy for industrial development until 2030, with a vision towards 2045. The resolution’s general objective for 2030 is for Vietnam to accomplish its industrialization and modernization goals and stand among the top three ASEAN countries in terms of industrial development, with some industries achieving global competitiveness and deep involvement in global value chains. The vision for 2045 is to turn Vietnam into a modern industrial nation. Under the resolution, the industrial sector is expected to create more than 40 percent of Vietnam’s gross domestic product (GDP) by 2030, about 30 percent of which is expected to be created by processing and manufacturing industries. High-tech products are set to account for at least 45 … [Read more...] about MoIT prepares to forge industrial development policy