25 June 2017

Hang pagoda on Ly Son island

hang pagoda on ly son island hinh 0

Hang pagoda is in the north of Thoi Loi mountain where a crater helped form a large lake and is not far from the island’s downtown. The path winds around mountains giving visitors the unexpected experience of beautiful landscapes.

From the mountain, visitors can enjoy a panoramic view of Ly Son island. Hang pagoda was founded under the King Le Kinh Tong regime from the late 16th century to early 17th century. It is called Hang (Cave) pagoda because it is located in a large cave. 

Carvings on the limestone mountain show that the first visitors to Ly Son island founded An Hai and An Vinh village and built this pagoda. Tran Vy is a caretaker of Hang pagoda: “Hang pagoda which was founded nearly 400 years ago by first inhabitants worships Buddha and the founders of nearby villages. Local people come here to pray for good luck and prosperity.”

The pagoda has a large yard with a lotus lake at the center and a statue of the Goddess of Mercy looking out to the sea. Around the yard are ancient tropical almond trees creating an imposing scene. In front of the pagoda is a well called “Heaven well”. Visitors often try to get a little bit of water dripped from the mountain stalactite believing that it will help relieve them from tiredness. The pagoda is cool inside where there are two small, one is the way to heaven and the other is to hell, according to the locals. 

The main worshiping hall is in the center of the main cave. Altars were created by stalagmite and carved with unique patterns. In the pagoda, traces of the Champa culture are found. Huynh Thuc, an An Vinh villager said “There are relics of the Cham like stone worshiping altars and traces of the Champa Kingdom. These make the pagoda unique.”

A number of spiritual activities are held to mark Buddha’s birthday, All Souls’ Day, death anniversaries of predecessors, and commemoration of the Hoang Sa naval fleet. Ly Son islanders believe that they are blessed by the Goddess of Mercy during their voyages. 

Ngo Hien, a local tour guide, says the 10 square kilometer island is home to approximately 100 historical relics, one third of which have been ranked. Hang pagoda was recognized as a national relic in 1994. In recent years, the local administration has invested in upgrading the infrastructure and relic sites. Ly Son island is seeking for national recognition. 

Hien said “The effective preservation and promotion of these values have created more tourist products and attracted a lot of visitors.”

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Vietnam to catch up with Thailand in 15 years: tourism minister

vietnam to catch up with thailand in 15 years: tourism minister hinh 0

Thien spoke about the competitiveness of Vietnam’s tourism after an NA deputy’s question about making Vietnam’s tourism on par with neighboring countries such as Thailand and Singapore. 

In 2016, Vietnam received 10 million foreign travelers, while Thailand received 32 million and Malaysia 26 million. Meanwhile, 16 foreign travelers visited Singapore, 12 million in Indonesia, and less than 6 million in Philippines. 

The gap between Vietnam and Thailand is large, considering the number of foreign travelers. However, the number of travelers to Vietnam is only 6 million lower than  Singapore.

The number of foreign travelers to Vietnam has been increasing rapidly in the last two years, by 30%. The high growth rate is expected to be maintained in upcoming years as the government has created measures to lure travelers. 

Thien said the government has decided to target 3-5 million foreign travelers more this year, an increase of 30-50%.

Meanwhile, the growth rate of foreign travelers to Thailand was 7% and analysts believe it is not likely to increase sharply in upcoming years as it has already obtained a high number of travelers.

Comparing the competitiveness of Thailand and Vietnam as destinations, Thien said both Vietnam and Thailand have equal potential in tourism development and in natural and cultural heritage. 

However, Vietnam is inferior in service infrastructure and priority level, while Thailand is inferior in public security.

In order to catch up with neighboring countries, Vietnam needs to develop tourism rapidly. If Vietnam can maintain a 20% growth rate and Thailand a growth rate of 7%, Vietnam would catch up with Thailand in the number of travelers after 15 years.

As for Singapore, Vietnam would catch up with it in two years. Meanwhile, it’ll take 10 years to catch up with Malaysia.

However, Thien only mentioned the possibility of catching up with neighboring countries in terms of foreign travelers, and did not speak about the possibility of catching up in terms of revenue. He also did not say if the current high growth rate can be maintained once Vietnam reaches a high number of travelers.

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U.S. judge asked to expand order blocking Iraqis’ deportation

The American Civil Liberties Union asked a U.S. judge on Saturday to expand an order that temporarily blocks the deportation of 114 Iraqis in Michigan to cover Iraqis nationwide, according to a court filing.

The advocacy group filed an amended complaint seeking to keep Immigration and Customs Enforcement from deporting Iraqis from anywhere in the United States while a federal judge weighs the case of the Iraqis in Michigan.

U.S. District Judge Mark Goldsmith on Thursday ordered a stay in the Michigan Iraqis’ deportation for at least two weeks while he decides whether he has jurisdiction.

The ACLU, which had sued to block the Michigan deportations, asked Goldsmith to rule by Monday on expanding his order to cover the more than 1,400 Iraqis facing expulsion across the United States. The immigration agency has indicated it might start those deportations as soon as Tuesday, the ACLU said.

Those being deported could face persecution or torture because many are Chaldean Catholics or Iraqi Kurds, “both groups who are widely recognized as targets of brutal persecution in Iraq,” the civil rights group said in its filing.

The ACLU also filed a motion asking the judge to extend his order nationwide to ensure that people who could face persecution, torture or death in Iraq are not deported.


Protesters rally outside the federal court just before a hearing to consider a class-action lawsuit filed on behalf of Iraqi nationals facing deportation, in Detroit, Michigan, U.S., June 21, 2017. Photo by Reuters/Rebecca Cook

Spokesmen for the Department of Justice and Immigration and Customs Enforcement did not respond to requests for comment.

The Michigan arrests were part of a sweep by immigration authorities who detained about 199 Iraqi immigrants around the country. They had final deportation orders and convictions for serious crimes.

The roundup followed Iraq’s agreement to accept deportees as part of a deal that removed the country from President Donald Trump’s revised temporary travel ban.

The U.S. government has argued that the district court does not have jurisdiction over the case since only immigration courts can decide deportation issues.

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Billionaires vye for top “richest” spot

billionaires vye for top "richest" spot hinh 0

Quyet fell to the second spot as his stock assets dropped by VND20 trillion within one month.

Quyet is president of FLC and FLC Faros. His US$2 billion in stock assets began to fall when the day ROS shares of FLC Faros plunged in price. ROS make up 95% of Quyet’s stock assets. 

ROS price decreasing on May 17, when its market price stayed at VND160,600 per share. At that time, Quyet’s assets were worth VND47.5 trillion, or nearly VND20 trillion higher than the asset value of the second richest stock billionaire Pham Nhat Vuong.

Just after five trading sessions, ROS price decreased by VND27,000 per share, making Quyet’s assets decrease by VND8 trillion.

In the next trading sessions, though ROS price continued decreasing, foreign funds continued buying ROS with the net sale of hundreds of billions of dong. 

On June 16, when foreign investors’ net sale reached 3 million ROS, the market price of the share dropped to VND97,000, which meant a 40% decrease in value compared with one month ago. This was the deepest low of the share since November 2016.

By June 17, Quyet had lost VND20 trillion. His total stock assets have decreased to VND29 trillion, or VND1 trillion lower than Vuong’s assets. As a result, Vuong has once again jumped to the No 1 position in the list of the richest stock billionaire.

Vuong and Quyet have been in the No 1 position in turns in the last few years. 

Quyet became the richest stock billionaire in November 2016, when the position changed hands for the first time after seven years. 

Quyet, with total assets of VND30.9 trillion on November 11, 2016, replaced Vuong to become the richest billionaire. However, one hour later, the VIC share price increased, which increased Vuong’s assets rapidly and he rose to the No 1 position.

Quyet became the richest stock billionaire for the second time on November 14, 2016, with total assets of VND33.264 trillion. However,  Vuong on December 13, 2016 became number one.

Trinh Van Quyet, 42, was born into a poor civil servant family in Vinh Phuc province. After finishing high school, he went to HCM City where he practiced repairing electronic products and nurtured the dream of going to university.

In 2008, Truong Phu Fortune Investment Company Ltd was established with investment capital of VND18 billion, which was later changed to FLC Group.

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Competition heats up as convenience stores race for dominance in Vietnam

competition heats up as convenience stores race for dominance in vietnam hinh 0

Thousands of people lined up and squeezed into the small shop in downtown Ho Chi Minh City, trying to buy snacks and light meals.

The chain has said it will open around 20 outlets in Vietnam by the end of this year and 100 in the next three years.

The important question here is not about whether similarly big crowds will be coming to its stores in the future. It’s where to put these stores.

7-Eleven is entering a market that has become increasingly packed in recent years. Its arrival is intensifying the heated competition for both customers and for retail space.

After all, the choice of location can make or break a convenience store. In big cities, many of the best spots are either too expensive or already taken.

Crowded market

The A.T. Kearney’s Global Retail Development Index this month named Vietnam the sixth most attractive retail market. The country made headlines worldwide when it topped this list in 2008.

The market has drawn a lot of foreign players who are now occupying 70 percent of the convenience store segment.

The American chain Circle K is operating around 250 stores, mostly in the country’s two biggest cities Ho Chi Minh and Hanoi.

FamilyMart, Japan’s second largest convenience store chain, now has 130 stores in Ho Chi Minh City, the nearby resort town of Vung Tau and in Binh Duong Province. It aims to expand the network to 150 locations by the end of this year.

Southeast Asian chains Shop&Go and B’s mart are running another 300 stores.

The dominant local player VinMart+, an offshoot of conglomerate Vingroup, has quickly expanded its network from 500 outlets in 2015 to around 900 last year. The chain plans to round up the number to 1,000 this year or next.

According to industry insiders, setting up a convenience store is much simpler than a supermarket but in order to launch a profitable chain, it takes a lot of money and efforts.

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Amazing coffee shops in Saigon

VietNamNet Bridge – The Vietnamese have a love of coffee that is bordering on obsession – and for good reason. Preparation and delivery of the hallowed, roasted bean is unique and the taste is the best in the world. Whether you drink it over ice or steaming hot; sweet and milky or bitter and black, the many, many coffee shops dotted around Saigon have got you covered. Below are popular coffee shops in HCM City.

ID Cafe 

Image result for id cafe thủ khoa huân

ID Cafe has an unassuming frontage, but once inside this two storey coffee shop the modern-retro theme is really funky.

 The 70s style armchairs are comfy as well as stylish and the decor of vinyl records and stencils lining the walls, and period radios and typewriters positioned here and there mean there’s always something to catch your eye. 

Located just one block north of Ben Thanh Market, Id Cafe offers shoppers the perfect respite from the frenzy of the market. 

Location: 34D Thu Khoa Huan Street, District 1

Hideaway Cafe 

Image result for hideaway cafe pham ngoc thach

Housed in a canary yellow French villa, Hideaway Cafe is one of the most attractive coffee shops in HCM Ciy.  

As the name suggests, Hideaway Cafe is located down a small alley. You enter through a gate and into a central courtyard. Either side there are period buildings with high ceilings and small opulent touches redolent of the French colonial period. 

You are advised to take tables in the house at the front as it is far more attractive inside, with art hanging on both floors and bare floorboards. If you don’t mind the heat, take a seat on the second floor balcony for a lovely tête-à-tête. 

In case you fancy a bite to eat, their breakfast menu is excellent and the seafood rocket pasta is an enjoyable lunchtime dish.

Location: 41/1 Pham Ngoc Thach, District 3


Image result for L’usine le loi

L’usine is at the forefront of the part coffee shop, part fashion boutique establishments that are springing up all over the city. Downstairs there is a clothing store with both male and female fashion, and on the first floor there is a minimalist and extremely cool coffee shop. 

The whitewashed brick walls, brushed concrete and antique lighting create a bohemian vibe that suits the clientele of the city’s scenesters. 

Alongside their excellent range Vietnamese style coffees, and European style cappuccinos and lattes, there is a cute little deli with croissants, quiches, cupcakes and macarons. There is also a large balcony for looking out onto Le Loi, one of the main thoroughfares of the city.

Location: 70B Le Loi St, (1st floor), Dist. 1

42 Cafe 

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One of several cafes located around Turtle Pond roundabout on the boarder of District 1 and 3. It won’t win any awards for its fairly nondescript furnishings, but for our money this is the best iced coffee in Saigon. 

Coffee is served in a traditional Vietnamese drip filter with a glass of fragrant green tea on the side. 

There is a small courtyard usually full of elder Vietnamese gentlemen, a downstairs area with air conditioning, and plenty more comfy armchairs upstairs, scattered behind large windows looking out at the centrepiece of Turtle Lake and the endless motorbikes zipping around the wide-arcing roundabout. 

The upstairs is a smoking room which might be off-putting for some; however, for the quality of their brew and the intriguing view, it’s worth a coffee…or two.

Location: 4 Cong Truong Quoc Te, District 3


Image result for mof cafe lê lợi

MOF – or Ministry of Food, to give it its full name – is a Japanese sweets and coffee shop, meaning you can get a delicious afternoon snack to go with your coffee, or even a full meal as they have several savoury dishes on the menu as well. 

The theme at MOF is health conscious treats that spare the calories but not the taste. The menu of desserts, chocolates, smoothies, gelatos contain classic Japanese options such as mochi sprinkled with green tea powder as well as European staples like crème brulee. 

Location: 30 Le Loi, District 1


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Speech by NA Chairwoman at 50th anniversary of Vietnam-Cambodia diplomatic ties

Hanoi, June 24 (VNA) – National Assembly Chairwoman Nguyen Thi Kim Ngan delivered a speech at the 50th anniversary of the Vietnam-Cambodia diplomatic ties held in Hanoi on June 24.

Following is the full text of the speech translated by VNA.

Exellency Samdech Heng Samrin, Honorary President of the Cambodian People’s Party, President of the National Assembly of the Kingdom of Cambodia, Chairman of the Solidarity Front for the Development of Cambodian Motherland National Council,

Exellency Leaders, former Leaders of the Party and State of Vietnam,

Ladies and Gentlemen,

Dear Cambodian and Vietnamese friends,

In the celebration of the 50th year of the Vietnam – Cambodia diplomatic ties, we are happy to be here today in this ceremony, with pride in the bright future of the “good neighbourliness, traditional friendship, comprehensive cooperation and long-term sustainability” between Vietnam and Cambodia.

On behalf of the leaders of the Party and Government and the people of Vietnam, I would like to warmly welcome to the high-ranking delegation from the Kingdom of Cambodia led by Samdech Heng Samrin, President of the National Assembly of Cambodia, Honorary President of the Cambodian People’s Party and Chairman of the Solidarity Front for Development of the Cabodian Motherland; delegates from the Cambodian Embassy; and Cambodian officials and students who are working and studying in Vietnam to the ceremony today.

The presence of Mr. President and ladies and gentlemen has brought us the feelings of close friendship with the people of Cambodia. On behalf of the Party, State, National Assembly and people of Vietnam, I would like to extend my warm greetings to Mr. President Heng Samrin and Cambodian delegates here as well as through Mr. President to King Norodom Sihamoni, leaders and people of Cambodia on our anniversary day.

I would also like to extend my sincere greetings to leaders and former leaders of the Party and State; representatives from ministries, departments and organisations at central and local levels; former Vietnamese experts and voluntary soldiers in Cambodia; relatives of war martyrs and invalids and people from all walks of life who are attending the event.

Ladies and Gentlemen,

Vietnam and Cambodia are the two neighbouring countries with the traditional, long-standing relations. The relationship has been nurtured by generations of leaders and people of the two countries, and is our priceless estate.

On this day 50 years ago, the two countries officially set up diplomatic relations. This was a great event that marked a new chapter in the two countries’ relations. In a message sent to Head of State of Cambodia Norodom Sihanouk on June 23, 1967, President Ho Chi Minh said: “The establishment of diplomatic relations between our countries is a bright manifestation of the close friendship and solidarity in combat. It is a historic event in the relationship between Vietnam and Cambodia, a positive factor in the maintenance of peace in Indochina and Southeast Asia.”

On the basis of the long-standing relationship and the fight against colonialism, the foundation of the diplomatic ties created favourable conditions for people of Vietnam and Cambodia to continue standing side by side in the struggle for national liberation, and together, they won a historic victory in the spring of 1975. Unfortunately, Pol Pot’s forces betrayed the victory of the Cambodian people with an ambition of setting up a genocidal model named “Democratic Kampuchea” which killed millions of Cambodian people. In response to the pressing call of the Kampuchean United Front for National Salvation, the army and people of Vietnam once again continue to be on the side of the patriotic forces and people of Cambodia to liberate the country and save the Cambodian people from the Pol Pot genocidal regime, prevent the return of the genocidal regime and bring the recovery to Cambodia, for peace and stability in the region. The history of the humankind and the people of Vietnam and Cambodia is forever engraved with the victory on January 7, 1979.

On this special occasion, we express our sincere gratitude to the two peoples for their efforts and sacrifice in that lofty fight, particularly of heroic martyrs, war invalids, formers experts, former volunteer soldiers of Vietnam who did not spare their blood and bones and sacrificed themselves to consolidate the traditional solidarity and friendship between the two nations and peoples of Vietnam and Cambodia.

Ladies and Gentlemen,

After the general election in 1993, relations between Vietnam and Cambodia entered a new period which was in accordance with each country’s situation. Leaders and people of the two countries continued making efforts to solidify and promote the “good neighbourliness, traditional friendship, comprehensive cooperation, long-term sustainability.”

With that direction, the two countries’ relations have continually been reinforced and developed in all fields, bringing about practical benefits for the two peoples and actively contributing to peace, stability and cooperation in the region and the world. We satisfactorily realise that the two countries’ political relations have continued developing soundly. Senior leaders of the two countries have regularly made mutual visits and affirmed the resolve to together nurture the two countries’ solidarity, traditional friendship and comprehensive cooperation. Cooperation between the two countries’ ministries, sectors and localities, with the establishment and increasingly effective implementation of cooperation mechanisms, has intensified cooperation in various areas in a more and more substantive manner. The cooperation between the two National Assemblies has continued to be strengthened and fostered in the fields of lawmaking and supervision, and in coordination at multilateral parliamentary forums. People-to-people diplomatic activities of the Vietnam Fatherland Front, the Parliamentary Friendship Groups, the Friendship Associations, and organisations of the public of the two countries have been carried out with numerous and diverse contents and forms, helping to improve the awareness of people, especially younger generations, of the traditional solidarity, friendship, cooperation and mutual assistance between the two nations and peoples.

Bilateral cooperation in security and national defence has been strengthened. The two sides pledged to implement policies not allowing any hostile forces to use the territory of one country to threaten security of the other country. On the basis of the treaties agreements and deals between the two nations’senior leaders, relevant agencies, authorities and people of the two countries’ border areas are working together to implement border demarcation and landmarker planting. The two sides have so far completed over 84 percent of the border demarcation and land marker planting work, and are determined to complete the work as soon as possible to build the two countries’ shared border line into one of peace, friendship, cooperation and sustainable development. The two nations’ leaders also pledged to continue facilitating the two countries’ people to live in each other’s territory, in line with the respective law.

The economic, trade and investment relations between the two countries have seen fast development and encouraging achievements. Currently, Vietnam has 190 investment projects in Cambodia, with a total registered capital of 2.89 billion USD, mostly in agriculture and forestry. Meanwhile, Cambodia runs 18 projects worth 58.125 million USD in Vietnam. Trade between the two nations has reached three billion USD a year in recent years. The two sides aim to raise the trade to five billions USD in the coming years.

Over the past years, Vietnam has continuously been the biggest tourists source of Cambodia, with 960,000 people in 2016 or 19 percent of the total international visitors to Cambodia. In 2016, Vietnam welcomed 210,000 Cambodian visitors, ranking 13th among Vietnam’s source markets. Cambodian leaders highly valued investment, and business activities of Vietnamese enterprises in the country, which have contributed significantly to social welfare, development and prosperity of Cambodia.

Priorities have been given to cooperation in education, culture, health care, telecommunication, among others.  Vietnam offers hundreds of long-term scholarships to Cambodian students to study in Vietnam each year, while Cambodia also helps train Vietnamese students at the request of Vietnam’s ministries, sectors and localities. They are expected to be the future owners of each nation and to serve as bridges connecting the solidarity, friendship and comprehensive cooperation between the two nations in the future.

Numerous cultural and art exchanges have been constantly organised, particularly in border localities. With the humanitarian spirit, Vietnam has regularly organised delegations of voluntary doctors to Cambodia to provide free health check-ups and medicines for local people. Cambodian patients enjoy the same fees for health examination and treatment in Vietnam as locals.

As from January 1, 2017, subcribers of Vietnam’s mobile network Viettel enjoy domestic telecom charges (without internaitonal roaming fees) when making phone calls to subscribers of Cambodia’s Metfone and vice versa, thus facilitating communications for the two countries’ people.

In implementing the foreign policy of multilateralisation and diversification of international relations, the two nations have coordinated closely at international and regional forums, such as the Cambodia – Laos – Vietnam (CLV), the Cambodia – Laos – Myanmar – Vietnam (CLMV), the Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS), ASEAN, ASEM, the United Nations, among others, contributing to enhancing the reputation and status of each nations in the region and the world. 

Ladies and Gentlemen,

The Party, State and people of Vietnam warmly welcome great achievements that the fraternal Cambodian people, under the sound rule of King Norodom Sihamoni and leadership of the Senate, National Assembly and Royal Government of Cambodia in which the Cambodian People’s Party plays a crucial role, has scored in the recent years.

As a close neighbour of Cambodian people, the Vietnamese fellows firmly believe that the Cambodian people will continue achieving greater successes for the Kingdom of Cambodia of peace, stability, development and prosperity.

For their part, over the past 50 years of the establishment of Vietnam-Cambodia relations, the Vietnamese people are very proud of victory in the national liberation and reunification cause and delivery of international commitments, which were of historical significance to the renovation process initiated and led by the Communist Party of Vietnam. Over the past years, Vietnam’s political-social climate has been stable while the economy has recorded high growth, culture and education has progressed in many aspects. Lives of people from all walks of life have improved significantly, national defence and security have been strengthened, external relations have seen new leaps, thereby increasingly improving Vietnam’s prestige and role on international arena.

Ladies and Gentlemen,

Looking back the past 50-year path, in defiance of ups and downs in history, the traditional solidarity, friendship and comprehensive cooperation between Vietnam and Cambodia have been ceaselessly reinforced and developed, becoming an invaluable, sacred and sustainable asset of the two nations.

We believe that how the global and regional developments have changed, Vietnam and Cambodia will further intensify bilateral solidarity, traditional friendship and comprehensive cooperation, make such relationship everlasting for the benefit of the Cambodian and Vietnamese people. It is not only a noble responsibility and obligation of ours today but also generations of leaders and people of the two nations in the future.

On the occasion, on behalf of the leaders of the Party, State, National Assembly and people of Vietnam, I would like to express my deepest and sincere gratitude for valuable support that former King Norodom Sihanouk and incumbent King Norodom Sihamoni, generations of leaders and people of Cambodia have provided for the Vietnamese people in the past national liberation cause as well as the national construction and defence at present.

Ladies and Gentlemen,

The Creator blesses the two countries with the Mekong River with alluvia cherishing immense paddy fields on the two banks, and fishes and shrimps enriching the two peoples. That river has also incessantly witnessed close-knit relationship between our two nations. On this formal occasion, I wish that the solidarity, traditional friendship and comprehensive cooperation between Vietnam and Cambodia would flow like the great Mekong Delta and forever be the root of peace and prosperity of our two nations.

Thank you very much.

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Ciel Rouge: French film set in Vietnam to premiere in July

NDO – French director Oliver Lorelle’s ‘Ciel Rouge’ (Red Sky), which is set in Vietnam in the early years of the Indochina War and shot entirely in Vietnam’s northern mountainous areas, will be shown in mid-July in France and in October in Vietnam.

The film tells the story of a French soldier committed to pacifying an unknown country made up of dense forests and spectacular mountains. His ideals collapse when he is forced to torture and kill a young Vietnamese woman, who is fighting for national independence.

In order to escape carrying out his orders he decides to flee with her on an unpredictable journey to the heart of the jungle. Crossing the forests and hiding in breath-taking natural surroundings, the two unlikely partners distance themselves from the world and the war. Left to their own devices, they discover who they really are.

Ciel Rouge’s filming locations include Ba Be Lake in Bac Kan province and the spectacular mountains of Ha Giang.

Unlike previous French films about the war in Vietnam such as ‘L’Amant’, ‘Dien Bien Phu’ and ‘Indochine’, Vietnam’s striking nature is a major theme and the war is only a background story to accentuate the tale of love between the two main characters.

The film crew, including director Oliver Lorelle, main actress Audre Giacomini and well-known Vietnamese actress Nguyen Thi Chieu Xuan, will hold a talk with the audience in Hanoi on June 28 at the French cultural centre L’Espace.

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Government adopts action plan to restructure budget and manage public debt

NDO – The government has issued an action plan on measures to restructure the State budget and manage public debt in an effort to keep spending deficit in check and guarantee national financial security.

Under the programme, the government aims to gradually reduce budget deficit to 3.5% of gross domestic product (GDP) or lower by 2020.

Vietnam’s budget deficit in the last four years has continuously exceeded 5% of GDP, specifically 5.4% in 2012, 6.6% in 2013, 5.64% in 2014 and 6.11% in 2015.

During the 2016-2020 period, the government aims for the ratio of public debt to be at 65% of GDP or lower, of which government debt will not exceed 55% of GDP and national foreign debt 50% of GDP.

The government also aims to keep the ratio of regular spending under 64% while spending on development investment will account for about 25-26% of total expenditure.

Regarding sources of income, domestic tax revenues will make up about 84-85% while the ratio of revenues from crude oil and export-import activities will decrease to about 14-16% of total revenue.

In order to achieve the above-mentioned goals, the government has outlined a number of measures including implementing economic reforms aligned with enhancing the productivity and competitiveness of the Vietnamese economy.

The government will also take action to enforce budgetary discipline and step up the management of public debt, in which government budget will not be used to restructure State-owned enterprises or tackle bad debt at State-owned commercial banks.

In addition, new loans will only be approved once their impact on Vietnam’s public debt size and ability to cover debt repayment is fully assessed.

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Hanoi FC 2-0 Hai Phong: Hanoi maintain pressure on Thanh Hoa

NDO – Hanoi FC continued to maintain pressure on leaders FLC Thanh Hoa after brilliantly downing Hai Phong 2-0 in the 14th round of the V-League 2017 on June 24.

Loris Arnaud opened the scoring for Hanoi in the 24th minute following an accurate right-wing cross by Hung Dung.

Four minutes later, Hanoi was forced to play with ten men after Ngoc Duc was given a red card and sent off.

However, Hai Phong failed to make use of the advantage to overwhelm the home team, solely relying on long passes or long-range strikes for opportunities, with only one of them concretised by Fagan with a header at post.

The match was already decided by first-half stoppage time when Van Quyet beat goalkeeper Dang Van Lam on the spot for Hanoi’s second goal.

The convincing victory helps reigning champions Hanoi FC maintain their second place with away from leaders FLC Thanh Hoa, who edged out SHB Da Nang 3-2.

In other matches, Hoang Anh Gia Lai and Saigon recorded a respective 2-1 win over Becamex Binh Duong and XSKT Can Tho, while Song Lam Nghe An were held to a 1-1 draw by Quang Ninh Coal.

QNK Quang Nam climbed to third position in the V-League standings following their straight victory (3-0) against Sanna Khanh Hoa BVN.

Long An remained stuck at the bottom after losing 2-3 to Ho Chi Minh City.

Hanoi players celebrate the opening goal by Loris Arnaud. Photo: NDO/Tran Hai

Players of the two teams fight for the ball. Photo: NDO/Tran Hai

Hai Phong perform poorly despite crazy support from fans. Photo: NDO/Tran Hai

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