Four satellite cities ploddingly implemented in HCM CityAccording to HCMC’s master construction plan by 2025 approved by the Prime Minister, the city will have four satellite cities. They comprise south, northwest, Hiep Phuoc seaport complex and hi-tech urban areas. Approved projects are small scaled as the city has yet chosen large urban projects and delivered to qualified investors. Of the four urban cities, the most sluggish one is the northwest urban area without investors so far. The Department of Planning and Architecture has proposed to review the plan to attract more investors to the four satellite cities.
June 26, 2017 06:22 UTC
Building traditional houses become new hobby of the rich in VietnamMany Vietnamese people have paid billions of VND to build and buy traditional houses. Ke truyen wooden houses are most popular and favoured in Hanoi, Vinh Phuc, Thai Binh and Nam Dinh provinces. A traditional wooden house with all the pillars and brick roof costs at least VND10bn (USD440,000), Manh added. But he quit to become a carpenter and renovated old houses that were at risk of disappearing during the urbanisation. Architect Nguyen Giang said many people favour traditional houses because of the closeness with traditional cultural values.
June 26, 2017 05:37 UTC
Vinafood 1 and Vinafood 2 want to be exclusive bidders for government-to-government (G2G) rice export contracts, but analysts warn of the dangers of a monopoly. If many businesses can export rice in large quantities, this will encourage domestic production and benefit farmers. He said that Vinafood 1 and Vinafood 2 were given too many rights, including the right to export rice under G2G contracts. He said MOIT had its reasons when appointing Vinafood 1 and Vinafood 2 to represent Vietnam in negotiating for G2G rice export contracts several years ago. RELATED NEWSRice exports expected to face tough competition$20,000 for a rice export license - fact or fiction?
June 26, 2017 05:26 UTC
SYDNEY — Australia’s under-pressure Great Barrier Reef is an asset worth Aus$56 billion (US$42 billion) and as an ecosystem and economic driver is "too big to fail", a study said on Monday. The World Heritage-listed reef is the largest living structure on Earth and its economic and social value was calculated for the first time in the Deloitte Access Economics report commissioned by the Great Barrier Reef Foundation. Using economic modelling, it said the reef was worth Aus$29 billion to tourism, supporting 64,000 jobs. Great Barrier Reef Foundation director Steve Sargent said the study showed that no single Australian asset contributed as much to international perceptions of "Brand Australia". "This report sends a clear message that the Great Barrier Reef -- as an ecosystem, as an economic driver, as a global treasure -- is too big to fail."
June 26, 2017 05:12 UTC
Chairman of the municipal People’s Committee Nguyen Duc Chung said that Ha Noi lead in implementing Government instructions and in building a service administration. “Ha Noi always welcomes and wants to co-operate with all investors, businesses, associations and localities inside and outside Viet Nam,” he said. Continuing to improve the business and investment environment to earn more trust from investors, businesses and citizens is also necessary, he said. Chairman of the Ha Noi Young Business Association Tran Anh Vuong said Ha Noi should be pioneer of the country in start-ups with a focus on human resources training. In the year, nearly VND440 trillion (US$19.36 billion) was poured into investment projects in the locality.
June 26, 2017 04:30 UTC
Shortage of local raw rubber materialAlthough Viet Nam is the world’s third largest exporter of natural rubber, businesses still have to import rubber raw material to meet the demand for production and processing. According to the Viet Nam Rubber Association (VRA), most of the materials are imported for re-export and only partly meet the needs of local tyre manufacturers. “This is also the reason we import TSR10 and TSR20 to produce steel belted tyres.”On the other hand, most rubber raw material factories in Viet Nam have low capacity and do not meet the requirements of quality uniformity. Thai Hong Khang, director of the Rubber Technology Centre at the Viet Nam Rubber Research Institute, attributed the shortage to the way domestic raw material producers do business. Realising the trend, some enterprises have started to invest in new SVR 10, SVR 20 rubber production lines instead of SVR 3L.
June 26, 2017 04:30 UTC
Travel to Australia to learn unique experiencesVietNamNet Bridge - Known to some as the “Lucky Country” or to most as just “Down Under”, Australia is the world’s largest island, yet its smallest continent. As the largest city in Australia, Sydney is most often the first city that comes to mind thanks to the iconic Sydney Harbor Bridge and Sydney Opera House. Singapore Airlines serves all of Australia’s major cities including Sydney, Melbourne, Canberra, Adelaide, Perth and Brisbane with convenient flight schedules and seamless connecting times. Codeshare agreements with the renowned Virgin Australia expand Singapore Airlines’ network to more destinations such as Hobart, Gold Coast, Launceston, Mackay, Newcastle, Townsville, providing countless travel options for visitors to Australia. One journey to Australia is accompanied by too many great experiences on the way, let’s grab the deal and visit Australia!
June 26, 2017 04:18 UTC
President’s tour to Belarus, Russia fuels comprehensive cooperationThe official visit to Belarus and Russia by President Tran Dai Quang from June 26 to July 1 aims to implement Vietnam’s external policy of diversification, multilateralisation, reinforcement and enhancement of relations with friends and create new momentum for cooperation. Bilateral economic and trade relations are thriving, with an inter-governmental committee for economic, trade, scientific and technological cooperation having been established in 1992. Meanwhile, Vietnam and Belarus have sound traditional relations, with Belarus attaching much importance to enhancing ties in various fields. The visit to Belarus and Russia by President Tran Dai Quang is a significant event, affirming that Vietnam treasures relations with Russia and Belarus. It will also create momentum to further cooperation relations in various fields.
June 26, 2017 04:07 UTC
HCM City to thaw suspended building renovationsVietNamNet Bridge – The HCM City People’s Committee will issue temporary construction permits to allow owners to renovate old houses or build new houses in areas where construction projects have been suspended. Owners of houses in HCM City’s District 12 are waiting for temporary construction permits to renovate their houses. The city has about 570 suspended projects with a total area of over 20,000 hectares, according to the city’s Department of Natural Resources and Environment. People living in the area of suspended construction projects previously were not allowed to transfer, trade or change the use of the land. The infrastructure around suspended projects is rarely upgraded, affecting thousands of people’s lives.
June 26, 2017 03:56 UTC
FDI in Hanoi lifts city to new highsWith its great economic and geographic potential, Hanoi has increasingly become more critical to the investment strategy of foreign investors, many of whom are planning large-scale operations in the city. Last year, the city lured US$3.12 billion in FDI volume, up 2.9-fold compared to 2015, and 2.2 times more than the projection. The figure is expected to increase sharply in the coming time, as a number of large-scale FDI projects now await investment certificates. Hanoi has also been Vietnam’s second-largest awardee in terms of number of FDI projects, second only to Ho Chi Minh City (at 6,954). Administrative reform has also been a major focus in Hanoi, with regards to the promotion, management, and implementation of FDI projects.
June 26, 2017 03:45 UTC
Việt Nam and Laos convened the fourth meeting of their Scientific and Technological Co-operation Committee in Cửa Lò town, the central province of Nghệ An, yesterday. — VNA/VNS Photo Tá ChuyênNGHỆ AN – Việt Nam and Laos convened the fourth meeting of their Scientific and Technological Co-operation Committee in Cửa Lò town, the central province of Nghệ An, yesterday. Việt Nam will also support Laos in increasing information and statistical capacities of Lao scientific and technological officials. The two sides will also boost investment activities and technology transfers between the two countries, and cooperate in intellectual property fields. The experience Việt Nam has shared through the implementation of projects is valuable for Laos in stepping up its scientific and technological development, he added.
In July 2015 the State Bank of Việt Nam issued Circular No.09/2015/TT-NHNN on debt trading by credit institutions and foreign banks. Thanks to this stability on the foreign exchange market, the central bank bought a large volume of foreign currencies to increase the country’s foreign exchange reserves to a record level. This is because the zero policy is “bleeding” foreign exchange and hitting inward remittances. Meanwhile, the US has consistently been hiking its rates, widening the gap between the two countries’ interest rates. Some want the central bank to hike the interest rate on the greenback to 0.25- 0.5 per cent.
The lack of incentive, initiative and willingness to change is holding back the nation’s labour productivity, Thọ said. Labour productivity measures the goods and services produced per unit of labour; more specifically, it measures the GDP produced per unit of labour. Based on each country’s productivity growth target, it would take Việt Nam 97 years to catch up with Malaysian productivity,” Tuấn told the Việt Nam News. It is the low labour productivity of the agriculture-forestry-aquaculture (VNĐ33 million per labourer) sector that has dragged down the overall national productivity, he said. Such activities have already been in place but the Government should “make them national activities for boosting labour productivity,” Thọ said.
The Presidents of the front organisations of Cambodia, Laos and Việt Nam signed a trilateral co-operation agreement covering the period 2017-20 at their third conference, held in Hà Nội yesterday. — VNA/VNS Photo Văn ĐiệpHÀ NỘI – The Presidents of the front organisations of Cambodia, Laos and Việt Nam signed a trilateral co-operation agreement covering the period 2017-20 at their third conference, held in Hà Nội yesterday. Samrin also suggested encouraging shared border localities to establish twinning ties and friendship associations to tighten their solidarity, friendship and cooperation along the borders. He noted that guidance should be provided to border localities in implementing the MoU, thus building a border of peace and friendship. The next conference of front organisation presidents of Cambodia, Laos and Việt Nam will be held in Cambodia in 2020 to review the trilateral co-operation programme in 2017-20 and sign a new agreement for 2020-23.
President Trần Đại Quang leaves Hà Nội this morning for a six-day trip that will take him to Belarus and Russia. — VNA/VNS Photo Nhan SángHÀ NỘI – President Trần Đại Quang leaves Hà Nội this morning for a six-day trip that will take him to Belarus and Russia. The three day visit to the Republic of Belarus, his first stop, comes at the invitation of the President of Belarus, Alexander Lukashenko, the Vietnam News Agency reported. Việt Nam and Belarus are working closely within the framework of the Free Trade Agreement between the Eurasian Economic Union and Việt Nam. After wrapping up the Belarus visit, President Quang and the delegation will pay an official visit to Russia from Wednesday to Saturday at the invitation of President Vladimir Putin.