Illustrative image (Photo: VNA) - The limit for foreign investors’ ownership in Vietnamese air transport businesses will be increased to 34 percent from the current level of 30 percent, according to the Prime Minister’s decree signed last week. Decree 89/2019/ND–CP, revised from Decree 92/2016/ND–CP issued in 2016, includes regulations relating to conditional business lines in the fields of air transport and general aviation activities.Ministry of Transport, which drafted the decree, the foreign investors' new ownership cap does not only ensure the attraction of foreign investment capital into enterprises but also the interests of domestic investors. With the goal of reducing and simplifying business conditions and creating favourable conditions for investors to access the aviation market, the new decree regulates that an air transport business operating 10 aircraft or fewer will need to have a minimum capital, including ownership capital and loan, of 300 … [Read more...] about Foreign investors permitted to hold 34 percent stake at Vietnamese airlines
Saarc foreign ministers
Vietnam’s average disbursement rate is much lower than that of other recipients of the Asian Development Bank’s ODA loans, largely due to cumbersome and time-consuming procedures, said Eric Sidgwick, ADB country director for Vietnam. Minister of Finance Dinh Tien Dung speaks at a teleconference in Hanoi on June 26. Red tape is one of the main reasons for slow loan disbursement – PHOTO: THOI BAO TAI CHINH Speaking at a teleconference in Hanoi on Wednesday, Sidgwick said Vietnam had a good rate of disbursement in the past. However, the rate has been on the decline since 2014, and it is currently very slow, reported the local media. Vietnam’s average disbursement rate in 2018 reached 11.2%, or half of the rate in the 2011-2014 period, at 21.7%, and half the rates of other countries, according to the director. He pointed out that even minor changes in projects such as increases in scale, six-month loan extensions, cost structure changes or the use of … [Read more...] about Red tape results in low ODA disbursement in Vietnam: ADB
Deputy Minister of Labour, Invalids and Social Affairs Doan Mau Diep (Photo: VietnamPlus) Hanoi (VNA) – Deputy Minister of Labour, Invalids and Social Affairs Doan Mau Diep has shared foreign nations’ experiences in keeping elderly employees to work in schools and factories, and even leadership positions. The draft revised Labour Code was submitted to the National Assembly for comments, under which the retirement age will be raised in accordance to the roadmap. Many lawmakers voiced their concerns over the increase in the retirement age as many young people have found it hard to seek jobs and the healthy longevity of Vietnamese people is not high. Deputy Minister of Labour, Invalids and Social Affairs Doan Mau Diep, deputy head of the draft revised Labour Code compilation board, cleared up several concerns over the issue while talking with the press. Reporter: Some voiced their concerns that the life-span of Vietnamese people is high but the number of their healthy life … [Read more...] about MoLISA puts forth solutions to ease impacts of retirement age hike
A workshop on technological solutions for the North-South high-speed railway took place in Hanoi. “We are still not ready enough. When will carriage factories be able to build the carriages for high-speed 200-300 kilometers per hour trains?” Deputy Minister of Planning and Investment Vu Dai Thang asked recently. The $58.71 billion project has estimated investment rate of $38 million per kilometer. It will be implemented in two phases: the first one with estimated capital of $24.714 billion and the second $33.998 billion. MPI Deputy Minister Thang commented that it is necessary to clarify development scenarios, while it is not possible to immediately develop a high-speed development plan. Thanh Lich North-south express railway: how much money is enough? Experts say the north-south expressway project worth tens of billions of dollars raises big questions in the context of ‘every locality has one airport’ race. North-south expressway: … [Read more...] about High-speed railway: Vietnam still needs to import technology
Teleconference on raising retirement age roadmap (Source: Vietnam+) Hanoi (VNA) - Themed "Choosing a suitable roadmap for raising retirement age," a tele meeting organized by the Vietnam Social Security and Nhan Dan newspaper was held in Hanoi on May 21 to answer questions about the roadmap of raising retirement age, the specific time to start applying this roadmap, the right to retirement and provisions to create conditions for employees to exercise this right ... Finding the right route Resolution No. 28-NQ/TW states: "From 2021, adjusting the retirement age according to the goal of increasing the general retirement age, narrowing the gender gap in the retirement age regulations; to special occupations, employees are entitled to retire 5 years earlier or later than the general retirement age." In this spirit, the adjustment of raising the retirement age also needs to match the size, structure, quality, health status and longevity of Vietnamese workers, avoiding sudden adjustments to … [Read more...] about Raising retirement age: which roadmap is suitable?