Halt proposed to projects linked to forest land use change in Phu Yen

Stewart Beck, President and CEO of the Asia Pacific Foundation of Canada (Source: theglobeandmail.com) Toronto (VNA) - Policies that facilitate SMEs development are the most important topic of discussion at the third meeting of the APEC Business Advisory Council (ABAC), said Stewart Beck, President and CEO of the Asia Pacific Foundation of Canada. In an interview with the Vietnam News Agency on the sideline of the ABAC meeting in Toronto on July 26, Beck noted that 98 percent of companies in Asia-Pacific are classified as small- and medium-sized enterprises (SMEs), thus it is important to promote their operations and growth potential. Policies for SMEs growth include those on mechanisms for business establishment, startups, and recruitment at local level, he said. Meanwhile, looking for measures to diversify business categories in the region is also necessary, he added. Beck considered globalisation an important process, particularly with IT firms. He said he supports e-commerce, which, to him, is a platform for SMEs to trade without border. The point is governments’ understanding of online trading and issuance of policies that encourage its growth, said Beck, adding that the matter will be among ABAC’s recommendations to APEC leaders. The ABAC’s third meeting in 2017 took place in Toronto, Canada, from July 24-28. During the event, business leaders from APEC member economies gathered to build an agenda and make recommendations on business climate improvement across the APEC region, which will be submitted to the APEC Economic Leaders’…... [read more]

More than 100 workers of Wondo Vina Limited Company in the Mekong Delta Province of Tien Giang were hospitalised on Wednesday afternoon with suspected symptoms of food poisoning. Workers being treated at hospital for food poisoning.  According to the Vietnam News Agency reporter in Tien Giang Province, the total number of ill patients, so far, has reached 187. Over 130 patients were discharged from hospital on Thursday afternoon. The remaining 56 patients are still being treated.  Nguyen Van Be, director of the healthcare centre of Cho Gao District, said the patients developed symptoms of vomiting, dizziness and stomachache.  The hospital had to mobilise all its staff and equipment to treat such a large number of patients.  Four pregnant females and other seriously-ill patients were transferred to the provincial General Hospital for further treatment.  According to workers, on Wednesday, they had lunch consisting of chicken curry and bread.  Authorised agencies of Tien Giang Province have taken food samples for testing.  This is the third time workers of this company have suffered from food poisoning and been admitted to hospital.  In 2013, up to 1,200 workers fell ill due to food poisoning. In 2015, more than 100 workers suffered from the illness.  Wondo Vina Limited Company, located in Long Binh Dien Commune, Cho Gao District, specialises in textile manufacturing for export.  VNS... [read more]

Inaccessibility to bank loans is one of the main factors that has prevented private small and medium-sized businesses from further development, experts say. Customers make borrowings at a VPBank’s office in Khanh Hoa Province.  Private businesses have made significant developments in all fields, sectors and regions. According to 2016 data from the Statistics General Department, the private sector contributed 40 per cent of the total GDP and generated 51 per cent of jobs across the country. Though the Government, the State Bank of Viet Nam and local banks have made efforts and solutions to help private businesses access bank loans, there are still troubles for them to receive financial support. “About 70 per cent of private businesses cannot access bank loans, though there are many policies that allow local banks to increase their credit growth in the private sector,” said To Hoai Nam, Secretary General of the Viet Nam Association of Small and Medium Enterprises at an online conference held yesterday by the Government portal chinhphu.vn. SMEs and private companies have to look for other available sources of capital, such as relatives and the black market, which offers high interest rates and risks, according to Nam. Local banks are often cautious considering business plans of private companies and hardly change their policies to meet businesses’ requirements. On the other hand, private companies are unable to demonstrate the potential outcomes in their borrowing proposals and comply with bank requirements about the standard form of financial reports, and they often have low-valuated…... [read more]

Private businesses have made significant developments in all fields, sectors and regions. According to 2016 data from the Statistics General Department, the private sector contributed 40 percent of the total GDP and generated 51 percent of jobs across the country. Though the Government, the State Bank of Viet Nam and local banks have made efforts and solutions to help private businesses access bank loans, there are still troubles for them to receive financial support. “About 70 percent of private businesses cannot access bank loans, though there are many policies that allow local banks to increase their credit growth in the private sector,” said To Hoai Nam, Secretary General of the Vietnam Association of Small and Medium Enterprises at an online conference held yesterday by the Government portal chinhphu.vn. SMEs and private companies have to look for other available sources of capital, such as relatives and the black market, which offers high interest rates and risks, according to Nam. Local banks are often cautious considering business plans of private companies and hardly change their policies to meet businesses’ requirements. On the other hand, private companies are unable to demonstrate the potential outcomes in their borrowing proposals and comply with bank requirements about the standard form of financial reports, and they often have low-valuated guaranteed assets. According to economist Nguyen Minh Phong, there are a few main reasons that have kept SMEs from obtaining bank loans. First, private companies do not have long-term business strategies. Therefore, they prefer available financial loans to…... [read more]

Private businesses have made significant developments in all fields, sectors and regions.  According to 2016 data from the Statistics General Department, the private sector contributed 40% of the total GDP and generated 51% of jobs across the country. Though the Government, the State Bank of Vietnam and local banks have made efforts and solutions to help private businesses access bank loans, there are still troubles for them to receive financial support. “About 70% of private businesses cannot access bank loans, though there are many policies that allow local banks to increase their credit growth in the private sector,” said To Hoai Nam, Secretary General of the Vietnam Association of Small and Medium Enterprises at an online conference held yesterday by the Government portal chinhphu.vn. SMEs and private companies have to look for other available sources of capital, such as relatives and the black market, which offers high interest rates and risks, according to Nam. Local banks are often cautious considering business plans of private companies and hardly change their policies to meet businesses’ requirements. On the other hand, private companies are unable to demonstrate the potential outcomes in their borrowing proposals and comply with bank requirements about the standard form of financial reports, and they often have low-valuated guaranteed assets. According to economist Nguyen Minh Phong, there are a few main reasons that have kept SMEs from obtaining bank loans. First, private companies do not have long-term business strategies. Therefore, they…... [read more]

Customers make borrowings at a VPBank’s office in Khanh Hoa Province. — VNA/VNS Photo Tran Viet Inaccessibility to bank loans is one of the main factors that has prevented private small and medium-sized businesses from further development, experts say. Private businesses have made significant developments in all fields, sectors and regions. According to 2016 data from the Statistics General Department, the private sector contributed 40 per cent of the total GDP and generated 51 per cent of jobs across the country. Though the Government, the State Bank of Viet Nam and local banks have made efforts and solutions to help private businesses access bank loans, there are still troubles for them to receive financial support. “About 70 per cent of private businesses cannot access bank loans, though there are many policies that allow local banks to increase their credit growth in the private sector,” said To Hoai Nam, Secretary General of the Viet Nam Association of Small and Medium Enterprises at an online conference held yesterday by the Government portal chinhphu.vn. SMEs and private companies have to look for other available sources of capital, such as relatives and the black market, which offers high interest rates and risks, according to Nam. Local banks are often cautious considering business plans of private companies and hardly change their policies to meet businesses’ requirements. On the other hand, private companies are unable to demonstrate the potential outcomes in their borrowing proposals and comply…... [read more]

The event was meant to celebrate the 40th anniversary of the signing of Treaty of Amity and Cooperation and the 55th anniversary of bilateral diplomatic ties. An exchange highlighting the special ties between Vietnam and Laos held in Son La province in July 2017. Photo: baogialai.com.vn Speaking at the event, former Lao Deputy Prime Minister Somsavat Lengsavath reviewed milestones in bilateral ties and support that Vietnam has provided for Laos in the fields of politics, education, economy, transport, national defense and security. He lauded the Treaty of Amity and Cooperation for bringing benefits to Laos, helping the country stay on track of stability and development until now. The former leader asked students and lecturers to bear in mind the tradition of Laos-Vietnam special ties and continue fostering bilateral relationship. Lao Deputy Minister of Education and Sports Kongsy Sengmany said the Laos - Vietnam, Vietnam - Laos special relationship is a decisive factor for the victory of the two countries’ revolutions and a foundation for their strong development at present. In an interview granted to Vietnam News Agency correspondents in Laos, Sengmany said over the past years, the Lao and Vietnamese Party and government have stepped up popularizing the tradition of bilateral special ties among Party members and walks of life, particularly young generations. In the near future, the Lao Ministry of Education and Sports will continue partnering with educational establishments nationwide to hold similar talks and exchanges with students on the occasion of…... [read more]

NDO - Minister and Chairman of the Government Office Mai Tien Dung conveyed the Prime Minister's criticism of ministers and chairmen from People's Committees of 13 ministries and provinces in relation to the slow disbursement of public investment in 2017. Minister Dung, who led the PM Working Group to meet with heads of 13 ministries, provinces and cities on July 25, named the list of ministries and localities reporting slow disbursement including the Ministry of Planning and Investment, the Ministry of Foreign Affairs, the Ministry of Health, and the cities of Hanoi, Da Nang and Ho Chi Minh City, among others. The report showed that over VND357 trillion (US$15.71 billion) was to be allocated for development investment purposes in 2017 including VND307 trillion (US$13.5 billion) sourced from the State budget and VND50 trillion (US$2.2 billion) from Government bonds. However, only VND85 trillion (US$3.74 billion) had been disbursed by June 15, equivalent to 23.9% of the year's plan and 27.6% of the plan set by the National Assembly and the Prime Minister. In particular, 13 ministries, agencies and localities have disbursed less than 20% of the set plan, namely the Ministry of Planning and Investment, the Ministry of Foreign Affairs, the Ministry of Health, the State Bank of Vietnam, the Committee for Ethnic Minority Affairs, Vietnam News Agency, the Veterans Association of Vietnam, and the cities of Hanoi, Ho Chi Minh City, Da Nang, Binh Duong, Binh Phuoc, and Tay Ninh. The PM Working Group said that…... [read more]

Le Ha of Hanoi, who has been selling clothes on Facebook, is stressed and worried after receiving a message from tax authorities inviting her to come and declare her income. Ha is one of over 13,400 Facebook account holders in Hanoi who’ve been identified by the Hanoi Taxation Department as online traders. “I have been selling clothes through Facebook for years, getting about 10 orders each day with maximum daily sales of around VND5 million (US$220),” Ha told Vietnam News, admitting that unlike other shop owners, she doesn’t have to declare her business or pay taxes. She was satisfied with her earnings and not having to bother about any intervention from State management agencies. The promise of attractive profits has prompted many people to jump on the bandwagon, catching the attention of authorities trying to reduce tax losses from State budget collection. A tax administration project for e-commerce business has been drawn up, with the two taxation departments of Hanoi and HCM City functioning as pioneers in bringing business owners selling merchandise on social media, especially Facebook, into the tax bracket. Vien Viet Hung, deputy director of Hanoi Taxation Department, told Vietnam News that the department had collected information on the identity and telephone numbers of the 13,422 Facebook traders. Since late June, the department has been sending SMS messages to these traders, encouraging and instructing them to voluntarily register their operations, declare income and pay taxes. However, after sending messages twice, only 1,000 of the 13,422 phone numbers have…... [read more]

NDO – Storm Sonca, the fourth large-scale storm to hit the East Sea this year, made landfall in the northern part of the central province of Quang Tri on July 25 afternoon and downgraded to a tropical depression, according to the latest information from the National Centre for Hydro-Meteorological Forecasting (NCHMF). >>> Localities brace for fourth storm in East Sea As of 4pm on Tuesday, the storm’s centre was located at approximately 17 degrees north latitude and 106.8 degrees east longitude, right on the areas of Quang Binh-Quang Tri provinces, with strongest winds in the eye of the storm recorded at 50-60kph. The State meteorological agency forecast that in the next 12 hours, the typhoon will move mainly to the west-north west at about 15kph and weaken into a tropical depression. By 1am on July 26, the tropical depression will be centred at about 17.5 degrees north latitude and 105.3 degrees east longitude, in Central Laos. The strongest wind of the tropical low pressure will be at about 40-50kph. To deal with the storm, the Central Steering Committee on Disaster Prevention and Control this morning held an online meeting with six central provinces, including Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri and Thua Thien-Hue, to discuss specific measures. At the meeting, Minister of Agriculture and Rural Development Nguyen Xuan Cuong, who is also head of the Central Steering Committee for Disaster Prevention and Control, proposed mobilising all forces to respond to Sonca and…... [read more]




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