Minister addresses lawmakers’ concerns over budget, financial management
As a result, the State budget collection in 2016-2017 far exceeded estimates by 9.3 percent and 6.3 percent respectively. Budget revenues at central level accounted for 55-56 percent of the total revenues while localities contributed 44-45 percent. The State budget spending in 2016-2017 was strictly controlled with regular expenditures reaching about 62-63 percent. Relating to the execution of financial disciplines, Dung said the National Assembly has promulgated some laws stipulating responsibilities of each budget management units. The Minister said stronger measures should be taken to tighten financial disciplines while inspection work should be intensified and wrongdoings in financial, budget and State property management strictly punished to curb the above-mentioned problems.
Source:VietNamNet News
May 26, 2018 10:07 UTC
Minister stresses support for businesses to join supply chains
Minister stresses support for businesses to join supply chainsMinister of Industry and Trade Tran Tuan Anh has emphasised the need to change policies and mechanisms to encourage businesses to participate in national, regional and global supply chains. However, he said, there are only more than 1,800 businesses operating in the support industry, of which 0.32 percent of them are involved in the manufacturing and processing sector. Assistance should also be offered to domestic firms in joining supply chains, he said, adding that the quality of human resources needs to be improved to spur the support industry. Speaking on ineffective investment projects, Minister Anh said the steering committee for dealing with those projects have built plans to handle the 12 key projects. Minister Anh stressed that besides the economic aspect, another important issue is to handle law violations of individuals and units in those projects.
Source:VietNamNet News
May 26, 2018 09:45 UTC
Sugar industry needs reforms
Sugar industry needs reformsThe sugar industry needs to restructure to compete with rivals in other countries such as Thailand, according to the Viet Nam Sugar and Sugarcane Association. Pham Hong Duong, deputy chairman of the Viet Nam Sugar and Sugarcane Association, speaks at a meeting in HCM City on Friday. Duong said the association would call on the Government to make development plans for the sugar industry. Cheap sugar smuggled in from Thailand has caused difficulties for Viet Nam’s sugar and sugarcane industry in recent years. Talking about the prospects for the sugar industry this year, he said global sugar prices have increased significantly compared to a year ago, which is a positive signal.
Source:VietNamNet News
May 26, 2018 02:37 UTC
Vietnamese travelers making more trips to Japan, South Korea
Vietnamese travelers making more trips to Japan, South KoreaVietNamNet Bridge - Vietnam has become the fastest-growing market for Japan and South Korea’s tourism. The Japanese tourism promotion agency has not released a report about the number of Vietnamese travelers coming in April. In early 2017, the Japan Tourism Promotion Agency and the Vietnam National Administration of Tourism (VNAT) signed an MOU on cooperation in tourism promotion. But the final figure may be even higher,” Ha said, adding that Vietnamese mostly go to South Korea in summer. In 2017, South Korea received 323,000 Vietnamese travelers, an increase of 28.8 percent over 2016.
Source:VietNamNet News
May 26, 2018 02:03 UTC
High schools take advantage of application season
High schools take advantage of application seasonIn just two weeks, 9th grade students all over the country will take part in the high school entrance exam, which is considered by many to be as important as the university entrance exam. For Vũ Thị Hoa, a resident in Thanh Xuân District, studying at a public high school is the only option for her son. On top of private classes, the total cost of a high school exam can reach extortionate amounts. Such schools include those for gifted students such as the high schools for gifted students under the Hà Nội Foreign Language College and the Hà Nội University of Science. Meanwhile, many other schools set up mock high school exams which cost between VNĐ60,000-120,000 for each subject.
Source:VietNamNet News
May 26, 2018 02:03 UTC
Firms must know global trade policy
Firms must know global trade policyFirms are potentially missing out on key opportunities available beyond their immediate borders by focusing on trade policy developments on a regional scale, and showing lack of awareness when it comes to the broader global trade policy environment, according to an HSBC report. For companies in Viet Nam, only 31 per cent said the EU policy environment has had a positive impact on their business, while 66 per cent saw no impact. Similarly, 74 per cent of respondents said the North-American Free Trade Agreement (NAFTA) has had no impact on their business. The positive impact of initiatives that are ‘closer to home’, however, were more broadly recognised by the survey’s respondents. Meanwhile, 46 per cent of firms in Asia-Pacific said the CPTPP trade deal was relevant for them and 48 per cent expected it to have a positive impact on their business.
Source:VietNamNet News
May 26, 2018 01:41 UTC
Forest products surpasses seafood in export value
Forest products surpasses seafood in export valueThe export value of forest products from early this year until May 24 surpassed that of seafood products to become the leader in the agro, forests and seafood export group. In May, the export value stood at $663 million, reported Thoi bao Tai chinh Viet Nam (Vietnam Financial Times) newspaper. MARD also confirmed that forest product exports accounted for 22 per cent of the agricultural sector’s total export value. The forestry industry had high export value but low import value, which resulted in a trade surplus. To promote the export of forest products, MARD is currently promoting a programme of development and protection forestry.
Source:VietNamNet News
May 26, 2018 00:33 UTC
NAPAS completes set for domestic cards
NAPAS completes set for domestic cardsThe National Payment Corporation of Viet Nam (NAPAS) recently completed the building of a standard set for domestic cards, according to State Bank of Viet Nam (SBV). The new set is compatible with EMV standards as well as standards of international card organisations such as Visa, MasterCard, JCB and UnionPay. With the new set, SBV expects 70 million bank cards in Viet Nam, which are magnetic stripe ATM cards and can be easily hacked due to weak security features, to be replaced by chip cards with EMV standards by 2020 as planned. Earlier, international card-issuing organisations had recommended Vietnamese banks to use chip cards meeting EMV standards to increase safety amidst growing card information thefts. As a chip card costs some US$1.5-2.5, Viet Nam’s leading card-issuing banks, such as Vietcombank with 14 million cards, VietinBank (13.7 million cards), Agribank (11 million cards) and BIDV (10.4 million cards), will have to spend nearly $50 million to shift to chip cards.
Source:VietNamNet News
May 26, 2018 00:33 UTC
Audio-visual performance 4DOORS in Hanoi tonight
Audio-visual performance 4DOORS in Hanoi tonightHeritage Space and DomDom will present “4DOORS”, the second concert of the experimental musical performance series “Beyond Sound 2018” on May 25. This time will be an audio-visual performance, a product of collaboration between Autonomicon - an international group represented by Denis Trusov, and new age artists from DomDom. The project tells about the gloomy borderline states of the human psyche, desperate situations, unbearable and existential loneliness inherent in every human being. A Hub for Experimental Music and Art, DomDom was created in 2012 as the first independent interdisciplinary center dedicated to Vietnamese experimental music and its collaboration with other art forms. Run by artist Kim Ngoc and her husband Xuan Son, DomDom has been playing an essential role in Vietnamese arts and music scenes.
Source:VietNamNet News
May 25, 2018 09:00 UTC
New show for tourists to open in Da Lat
New show for tourists to open in Da LatVietNamNet Bridge – The first ever entertainment show for tourists will open soon in the Central Highland city of Da Lat. Stage design of "Da Lat – A Miracle Night" show. — Photo thanhnien.vnThe new show, called “Da Lat – A Miracle Night”, is run by the CNT Company and can accommodate up to 400 people. It will be performed at the present location of April 3 Cinema, in Hoa Binh area, in downtown Da Lat. Da Lat, the capital of Lam Dong Province, is located 1,500m above sea level on the Langbian Plateau in the southern part of the Central Highlands region.
Source:VietNamNet News
May 25, 2018 08:15 UTC
Heritage, spiritual tour of central province launched
Heritage, spiritual tour of central province launchedVietNamNet Bridge – Saigontourist has launched a tour called Heritage and Spiritual Journey to the central province of Quang Tri. Con Co Island in Quang Tri Province. — VNS File PhotoThe province is renowned for its breathtaking landscapes, exotic culture, spiritual values, and friendly people. Travellers from HCM City will land in Hue City, visit the Imperial Citadel and enjoy Hue specialties before going to the neighbouring Quang Tri Province. On the first day in Quang Tri they will visit the ancient citadel built in 1827 by King Minh Mang.
Source:VietNamNet News
May 25, 2018 07:41 UTC
Illegal mineral exploitation challenge for island authority
Illegal mineral exploitation challenge for island authorityVietNamNet Bridge – Illegal mineral exploitation in Phu Quoc District in Kien Giang Province has defied the local government for many years, reported online newspaper vov.vn. Police are at the scene of an illegal sand exploitation on Phu Quoc Island. Referring to measures to counter illegal mineral exploitation, he said the police would cooperate with other authorities to supervise mineral exploitation in the district. He added that traffic police would enhance patrolling to monitor illegal exploitation and transportation of minerals. However, local people say that illegal exploitation activities are being carried out more discreetly and artfully to avoid the authorities.
Source:VietNamNet News
May 25, 2018 07:30 UTC
Dull future for Central Highland resettlers
Dull future for Central Highland resettlersVietNamNet Bridge – When authorities of the Central Highlands province of Gia Lai decided to build the Ayun Ha irrigation system in 2000, hundreds of local residents in Phu Thien District’s Chu A Thai Commune were relocated to a new resettlement area. Children play in a village in the Central Highland province of Gia Lai. The 70 residents of the Heg Village are among those who left the resettlement area to return to their hometown. They have three options: travelling 6km to neighbouring Chu Se District, 8km to the resettlement area, or 15km to the Mang Yang District to see the doctors there. “We will cling onto it as long as we can.”Located on top of the Cheng Leng Mountain is the Plei Cheng Leng Village of some 20 households; the oldest one has been there for over 20 years.
Source:VietNamNet News
May 25, 2018 07:30 UTC
BUSINESS IN BRIEF 25/5
Via close consultation with multinational corporations, the programme will also evaluate business opportunities and competitiveness of participating suppliers. Anh said there are only about 300 supporting industry firms in automobiles manufacturing nationwide. VASI Vice Chairwoman and General Secretary Truong Thi Chi Binh suggested support industry firms devise long-term strategies, enhance connectivity and actively join the global supply chain. The enterprises were chosen based on their interest in sourcing locally and assisting local companies in finding business opportunities. “Good corporate governance helps improve business performance and contributes to the prosperity of the economy in general,” Dien said.
Source:VietNamNet News
May 25, 2018 07:30 UTC
Circus performance, folk games promise excitement
Circus performance, folk games promise excitementVietNamNet Bridge – A new circus performance will be showcased promising to bring excitement and drama to audiences, especially children, according to artist Tong Toan Thang, deputy director of the Viet Nam Circus Federation. A new circus performance will be showcased promising an exciting show for audiences. — Photo courtesy of the Viet Nam Circus FederationEntitled ‘A Forest of Fairies’, the story is about a princess with miraculous hair. There are five shows a day performed at the Viet Nam Circus Federation, 67 Tran Nhan Tong Street, Hanoi. International folk games celebrated in museumResidents of Hanoi, particularly children, will have the chance to enjoy and learn about various folk games from around the world at the Viet Nam Museum of Ethnology in Cau Giay District.
Source:VietNamNet News
May 25, 2018 07:18 UTC