Vietnam Business Summit 2018 to take place in HanoiThe Vietnam Business Summit (VBS) 2018 will take place in Hanoi on September 13, drawing the participation of representatives from about 1,200 domestic and foreign businesses. Press conference on the Vietnam Business SummitThe event is held within the framework of the World Economic Forum on ASEAN (WEF ASEAN 2018) from September 11-13. The Vietnam Chamber of Commerce and Industry (VCCI) held a press conference on the VBS 2018 in Hanoi on August 30. Delegates are able to exchange experiences in various spheres and be updated on new business trends in the region. Vietnam is considered a key connectivity point between ASEAN and the global economy, he said, adding that the country is also the heart of the Indo-Pacific region.
August 31, 2018 04:18 UTC
Credit growth expected to be 17 percent this year: officialCredit growth had stood at about 8.18 percent as of August 15, 2018 and is expected to be curbed at around 17 percent this year, said Minister-Chairman of the Government Office Mai Tien Dung. The official released the figures at a press conference in Hanoi on August 30 following the Cabinet’s regular meeting which took place earlier the same day.Despite controlled credit growth, loans for production and businesses with stable interest rates have still been ensured, Dung said, noting that in the first eight months of this year, the Government focused on economic restructuring and did not rely on oil exploitation and credit growth for growth.In this regard, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu further explained that the credit growth target of about 8.5 percent in the remaining months of this year matches the requirements for economic growth and inflation control.He highlighted the rosy economic growth with inflation tamed at below 4 percent over the past eight months.Tu, however, said although the inflation rate is below the target set by the Government, caution is still needed to control the rate in the remaining months of the year.For the goal of economic stabilisation and ensuring capital for priority areas, credit institutions have set forth their own plans, the official said.Minster-Chairman Dung emphasised that to ensure macro-economic stability, apart from controlling credit growth, the Government is resolute not to raise electricity price and think twice before increasing prices of other commodities.
August 31, 2018 03:22 UTC
Vietnamese Prime Minister hosts banquet on National DayPrime Minister Nguyen Xuan Phuc and his spouse hosted a banquet for ambassadors, charge d’affaires and heads of international organisations in Hanoi on August 30 on the occasion of the 73rd anniversary of Vietnam’s National Day (September 2). Prime Minister Nguyen Xuan Phuc and his spouse (R) host a banquet on National Day (September 2)On behalf of the Vietnamese Party, State, Government and people, the Prime Minister warmly welcomed the foreign diplomats and international friends to the celebration. “We always try our best to be a good friend and reliable partner of the international community for equal and win-win cooperation”, he said. The PM believed that the foreign diplomats and friends will make more contributions to the enhancement of friendship and cooperation between Vietnam and countries around the world. Prime Minister Nguyen Xuan Phuc and his spouse (R) warmly welcome foreign diplomats and international friends to the celebrationPrime Minister Nguyen Xuan Phuc and his spouse (R) welcome foreign delegatesPrime Minister Nguyen Xuan Phuc addresses the eventPrime Minister Nguyen Xuan PhucDomestic and foreign delegates at the celebrationDomestic and foreign delegates at the celebrationVenezuelan Ambassador to Vietnam Jorge Rondon Uzcategui addresses the celebrationVNA
August 31, 2018 02:48 UTC
Hanoi to auction unused resettlement apartmentsThe Department of Construction of Hanoi has proposed to recall and auction resettlement apartments if they are not used in two years to recoup investment. Sai Dong urban areaIn the past years, Hanoi authorities started receiving orders to build commercial resettlement apartment buildings. There are 44 apartments on Le Duc Tho Street and 110 apartments in the Nam Trung Yen urban area. Nguyen Dac Thao, deputy head of the Urban Management Office under the Department of Construction, said only 76 apartments didn't have usage plan. In most cases, the residents didn't want to move in because of the construction quality or they wanted to resell the apartments at higher prices.
August 30, 2018 23:48 UTC
Pests to eat more crops in warmer worldInsects will be at the heart of worldwide crop losses as the climate warms up, predicts a US study. This is bound to put pressure on the world's leading cereal crops, says study co-author Curtis Deutsch. "Insect pests currently consume the equivalent of one out of every 12 loaves of bread (before they ever get made). "In many European countries we're predicting 50-100 % increases in the impact of pests on crops." Other adaptive solutions might include shifting planting dates, rotating crops more and planting crops that are more resilient to pests.
August 30, 2018 20:15 UTC
Long An Province insists on LPG-fired power plants to fight pollutionThe shift from coal to LPG is meant to protect the environment, but by insisting on such a move, the provincial government may risk losing the projects. In the latest petition to the ministry, Long An once again pleaded to authorities to maintain the scheme on developing the Can Duoc Power Complex and to develop LPG power plants there. Coal-fired power not cheapPECC2 has asserted to Long An authorities that coal-fired power generation is suitable for Long An since the cost will be lower while high-tech application will minimize impacts on the environment. In the past, in the wake of public protests against coal-fired power plants, Long An Province wanted to move such plants farther afield from residential areas, but in close proximity to HCMC. “That shows most people see coal-fired power plants as dumpsites, and no one want them to be built near their homes,” Tuan gave a comparison.
August 30, 2018 16:07 UTC
Paragliding festival to return to Yen Bai next monthThe annual paragliding festival themed “Flying in the yellow season” will return to the northern mountainous province of Yen Bai from September 21 to 23. The paragliding festival themed “Flying in the yellow season” will be held in Yen Bai from September 21 to 23Hoang Mong Long, head of the Vietwings Hanoi Paragliding Club, said the festival is held in Mu Cang Chai district during the ripe rice season every year. The “Flying in the yellow season” festival is part of a series of activities taking place in the Mu Cang Chai terraced rice fields. It was first held in Mu Cang Chai district in 2013 with the participation of over 30 paragliders. During the harvest in October, the golden rice fields stand out amidst green forests.–VNA
August 30, 2018 12:11 UTC
Statue of architect Kazik presented to Relics Preservation InstituteVietNamNet Bridge – A head statue of Polish archaeologist and architect Kazimierz Kwiatkowski, known as ‘Kazik’ (1944-1997), who significantly contributed to preserving many Vietnamese heritages, was presented to the Relics Preservation Institute of the Ministry of Culture, Sports and Tourism on Tuesday. Polish architet Kazik (centre) poses with his friends in Hoi An ancient town. According to director of the institute Hoang Dao Cuong, the event aims to commemorate Kasik’s contribution to Vietnam as a relics restoring specialist. The terra-cotta statue of Polish architet Kazik, created by renowned Vietnamese sculptor Pham Van Hang, was presented to Relics Preservation Institute, the Ministry of Culture, Sports and Tourism on Tuesday. A statue of Kazik was installed in a park named after him on Tran Phu Street, Hoi An in 2017 to mark his 20th death anniversary.
August 30, 2018 10:52 UTC
Museum accepts memorabilia relating to President HoVietNamNet Bridge – Dinh Ngoc Thi’s most prized souvenir is the red neckerchief President Ho Chi Minh gave him. Hearing the news, President Ho decided to honour the young pioneers, and Thi was summoned to represent the co-operative in Hanoi to meet President Ho in 1966. The objects also include a pistol President Ho granted to Minister of Health Hoang Tich Tri (1903 - 58), four letters President Ho sent to Minister Tri, and a painting of President Ho by Bulgarian painter Stefan Petrov in 1957. Last year, leaders of the Ho Chi Minh Museum attended an exhibition on the President in Bulgaria and met Petrov’s family. “We want to collect, preserve and promote the value of objects relating to President Ho at home and abroad.”Source: VNS
August 30, 2018 10:18 UTC
$58b for North-South high speed train: consultantsVietNamNet Bridge – Vietnam’s first-ever high speed train running from Hanoi to HCM City is projected to cost more than US$58 billion, project consultants unveiled on Tuesday. The consultants said that the high speed railway would best attract passengers and be able to compete with the soaring aviation sector if trains run at a maximum speed of 350km per hour. With such a high speed, travel time between Hanoi and HCM City will be cut dramatically to approximately 4.5 hours, compared to the current 30 hours on the train and about one hour and 40 minutes by air. ‘Huge risk’Viet Nam Bridge and Road Association vice president Nguyen Ngoc Long called the North-South high speed railway a mega-project at the same time as Vietnam is investing in other colossal projects like the North-South Expressway and the aviation development plan. “Speed proposals should also be considered carefully, but whatever is selected must guarantee the standard speed of 350kph,” he said.
Teacher shortage clouds school yearVietNamNet Bridge – With the new school year approaching, 43 cities and provinces across the country are facing a shortage of teachers. Crowded classrooms: The new school year is approaching but the country is still lacking nearly 76,000 teachers at different education levels. The most serious shortage is seen at the kindergarten education level, which lacks 40,000 teachers, said Nguyen Thi Nghia, deputy minister of education. Nghia said the shortage is seen in many localities, especially Dien Bien Province and the Mekong Delta region. Meanwhile, there are shortage and surplus of teachers at various secondary and high schools.
Taxi stands piloted in HCM CityVietNamNet Bridge – In an effort to prevent taxis from driving around to pick up passengers and causing traffic congestion, at the beginning of this month the HCM City authorities launched a pilot programme placing five taxi stands at five locations in the downtown area of District 1. And putting up taxi stands is one of the sensible measures, in my opinion. Citizens should be given some incentives to actually go hail taxis at taxi stands when they can do it anywhere else. Some people said the five current stands in HCM City were not really accessible to most passengers. Like any other new idea, it will take a while for taxi stands to earn their stripes in HCM City, and later on across the country.
Bad debts landscape at small banksThere has been great variations in small-scale banks’ bad debts performance in the first half of the year, with some showing great improvements, while others struggle to cope. Apart from banks that saw positive developments in their bad debts, several other banks reported a worsening situation. A typical case of sharply rising bad debts among banks of modest size was Saigon Bank whose bad debts ratio surpassed 6 per cent at the end of June 2018, while the limit set by the state is 3 per cent. Since its establishment in October 2013 to the end of 2017, VAMC, dubbed as Vietnam’s bad debt bank, succeeded in recouping about VND81.5 trillion ($3.6 billion) of bad debts out of the VND307.9 trillion ($13.6 billion) total principal bad debt volume. Apart from banks that saw positive developments in their bad debts, several other banks reported a worsening situation.
August 30, 2018 09:22 UTC
Ministry of Finance tops Vietnam ICT Index for six consecutive yearsThe Ministry of Finance has topped 19 governmental agencies with public services in the Vietnam ICT Index for six years in a row after earning 0.926 points this year. The ministry has topped Vietnam ICT Index for six consecutive years. The ministry ranks first in ICT human infrastructure (1.000 points), ICT applications (0.900), and internal ICT applications (1.000 points). The Vietnam ICT Index 2018 was compiled by the Ministry of Information and Communications based on the United Nations’ criteria. The survey gathered data from 63 provinces and cities; 19 governmental agencies with public services and five without public services.
August 30, 2018 09:00 UTC
Mekong Delta provinces take action to ensure safety during flood seasonVietNamNet Bridge – Provinces in low-lying areas in the Mekong Delta are at risk of heavy flooding due to water from upstream coupled with quickly rising tides, especially in Kien Giang, An Giang, Dong Thap and Long An. — VNS PhotoThe National Centre for Hydro-Meteorological Forecasting, which said that water levels in the Mekong Delta are rising at alarming levels, has issued a warning level of 2 and 3. However, by August 31, floods are expected to rise to 4.2m at Tan Chau Station and 3.7m at Chau Doc Station, surpassing the warning level 2 by 0.2m. Meanwhile, downstream areas could reach warning levels of two and three, and some places surpassing level 3. Kim Ngoc Thai, vice chairman of Tra Vinh Province’s People’s Committee, said since the beginning of the year, high tides have damaged several roads in Tra Vinh City and Tieu Can District’s Tan Hung Commune.
August 30, 2018 08:37 UTC