WB President backs Indonesia’s tax reform

The adjusted plan has been developed by Southern Institute for Spatial Planning (SISP) under the Ministry of Construction and German Insar Consulting Company. HCMC region comprises seven provinces and cities namely Dong Nai, Binh Duong, Binh Phuoc, Tay Ninh, Long An, Tien Giang and HCMC. The plan has been approved by the Prime Minister, determining the region to be a big urban area, the motive power of the country’s economic development, international traffic gateway with high adaptability toward sustainable and balanced development. The region is a modern intellectual, service and unique cultural center. Of these, HCMC is a nuclear urban area, multifunctional economic hub with synchronous and modern infrastructures on a level with modern cities in the Southeast Asia region. The Southern Institute for Spatial Planning says that compared to the plan approved in 2008, the new plan will be adjusted according to four principles comprising balanced development by changing economic structure to increase income for outskirt residents, centralizing local industry, balancing supplies of infrastructure and social services. The second is high adaptability in which the region will be elastic and closely connect local communities. The third is connectivity in traffic and information and communications between HCMC and provinces with a common information and management system for the entire region. Fourthly, sustainable places will intensify food security in localities and ensure self-supply of diversified services. The region will develop under concentration and multipolarity development model with four sub-regions, expand the central urban area to the east and north,…... [read more]

The adjusted plan has been developed by Southern Institute for Spatial Planning (SISP) under the Ministry of Construction and German Insar Consulting Company. HCMC region comprises seven provinces and cities namely Dong Nai, Binh Duong, Binh Phuoc, Tay Ninh, Long An, Tien Giang and HCMC. The plan has been approved by the Prime Minister, determining the region to be a big urban area, the motive power of the country’s economic development, international traffic gateway with high adaptability toward sustainable and balanced development. The region is a modern intellectual, service and unique cultural center. Of these, HCMC is a nuclear urban area, multifunctional economic hub with synchronous and modern infrastructures on a level with modern cities in the Southeast Asia region. The Southern Institute for Spatial Planning says that compared to the plan approved in 2008, the new plan will be adjusted according to four principles comprising balanced development by changing economic structure to increase income for outskirt residents, centralizing local industry, balancing supplies of infrastructure and social services. The second is high adaptability in which the region will be elastic and closely connect local communities. The third is connectivity in traffic and information and communications between HCMC and provinces with a common information and management system for the entire region. Fourthly, sustainable places will intensify food security in localities and ensure self-supply of diversified services. The region will develop under concentration and multipolarity development model with four sub-regions, expand the central urban area to the east and north,…... [read more]

VietNamNet Bridge - More and more investors have injected money into agriculture, even though the sector is believed to have many latent risks. In the first half of 2017, the major segments of agriculture such as cultivation, fisheries and forestry all prospered, with a 2.6 percent growth rate, contributing 0.43 percentage points to the growth of the economy. According to MARD, the total export turnover of the agriculture sector reached $17.1 billion, an increase of 13.1 percent over the same period last year. The export of key farm produce brought $9.1 billion, including $1.7 billion worth of vegetables and fruits, increasing by 44 percent. The outstanding loans disbursed under the government’s policies on supporting agricultural development had reached VND1.148 trillion by the end of May 2017, up by 9.9 percent over the end of 2016.  Agriculture, which is one of the five priority sectors for bank lending, now has a ceiling lending interest rate of 6.5 percent instead of 7 percent. Agriculture, which is one of the five priority sectors for bank lending, now has a ceiling lending interest rate of 6.5 percent instead of 7 percent. According to director of credit department Nguyen Quoc Hung, after the government released Resolution 30 on the VND100 trillion credit package for hi-tech agriculture development in March 2017, outstanding loans provided to the sector increased from VND3.7 trillion to VND32.3 trillion. As such, the loans to agriculture increased sharply by 8.7 times within half a year. Most of the credit package has been…... [read more]

VietNamNet Bridge – Participants at a conference about developing transport infrastructure in the northwest region on Thursday in Ha Noi agreed that transport infrastructure construction has not met demand and thus has not yet created strong foundations for economic and social development. The highways connecting Ha Noi with Yen Bai and Lao Cai, Thai Nguyen and Bac Giang have been completed and put into operation. — Photo: VNA/VNS Nguyen Van Binh, head of the Party Central Committee’s Economic Commission, underscored the significance of the effort to complete important transport projects in the past, saying that such work will fuel socio-economic development and ensure national defence-security in the region and the country.  However, he said there were still a number of shortcomings regarding the region’s transport infrastructure, with many becoming degraded and not yet proven to be socially and economically efficient. Many projects are lagging in terms of progress, causing difficulties for localities. Deputy head of the Steering Committee for the Northwestern Region Nguyen Canh Viet said due to its geographical characteristics, the northwest region often experienced heavy rains and landslides. Thus it is often difficult to conduct construction work and maintain transport infrastructure. He said road transportation plays the most important role in the region with 3,718 out of 6,730km of national highway completed.  The highways connecting Ha Noi with Yen Bai and Lao Cai, Thai Nguyen and Bac Giang have been completed and put into operation while projects on the construction of Hoa Lac – Hoa Binh and Thai…... [read more]

Despite a slowdown dating from the second half of 2016, the pace of the merger-and-acquisition market is expected to pick up in the months to come with many potential deals ahead. Bich Thuy reports. Banking will continue to be among the sectors most appealing to foreign investors for M&A, Photo: Le Toan The Japan-invested Daiwa-SSI Fund is on the way to acquire a 20 per cent stake in Hanoi-based CVI Cosmetic & Pharmaceutical Co. for an undisclosed sum. “We are working on necessary procedures to complete the acquisition by the end of July. The Japanese investment will enable us to develop a factory in the Hoa Lac Hi-Tech Park,” Phan Van Hieu, chairman of CVI, told VIR. Daiwa-SSI’s bid is among the new potential deals for the second half of 2017, while many others are being negotiated. At last week’s press conference on the M&A Vietnam Forum 2017 organised by Vietnam Investment Review and AVM Vietnam, experts said  pharma and healthcare will be among sectors that hold the biggest appeal for mergers and acquisitions (M&A) in 2017 and 2018, driven by the increasing population and growing middle class. “Increasingly deep global integration, through the signing of free trade agreements and the establishment of the ASEAN Economic Community, has contributed to making Vietnam more attractive to international groups and M&A is an effective investment channel,” said Tran Thanh Tam, director of KPMG’s Markets Group. …... [read more]

NDO – To achieve the objective of rapid and sustainable development, the central coastal province of Quang Ngai should focus on improving the implementation of ethnic minority support policies, with a priority on poverty reduction, Deputy Prime Minister Truong Hoa Binh has said. The deputy PM, who is also a Politburo member, held a working session with the key leaders of Quang Ngai province on Monday to discuss the implementation of ethnic affairs in the locality. At the working session, Chairman of Quang Ngai People's Committee Tran Ngoc Cang said that ethnic minority work has received special attention from Quang Ngai leaders across all levels, especially in poverty reduction in ethnic minorities and mountainous areas. The province has effectively implemented programmes and policies, which have resulted in positive achievements in reducing the rate of poor households. By the end of 2016, the rate of poor households in the whole province decreased to 13.5%, of which mountainous districts decreased by 4.83% (from 46.7% to 41.9%). However, the Quang Ngai leader also pointed out several weaknesses that need to be overcome, such as unsustainable results in poverty reduction, with a range of newly emerging poor and near poor households, investment resources for poverty reduction programmes has not met the set target and the limited effectiveness of several projects to reduce poverty. In the last six months of 2017, Quang Ngai strives to reduce the rate of poor households in mountainous districts by 5.54% per year, in accordance with…... [read more]

Scientists are compiling a crop structure map for the Mekong Delta to counter growing climate change impact in the region known as the country’s food granary. Farmers till a field in the southern city of Cần Thơ. Scientists are compiling a crop map for the Mekong Delta to counter the growing climate change impact in the region. - VNA/VNS Photo Duy Khương The plan will determine which crops would be cultivated and on what scale based on annual weather and natural disaster predictions, said Nguyễn Hồng Sơn head of the Department of Cultivation under the Ministry of Agriculture and Rural Development. "The map will help authorities and farmers prepare appropriate production plans," he told a seminar in Cần Thơ Province last week. However, Sơn cautioned that the plan cannot cover the entire region, just the large sub-regions of the Đồng Tháp Mười and Long Xuyên quadrilateral, Cà Mau Peninsula, coastal areas, and alluvial zones. Bùi Tân Yên, a scientist from the Research Programme on Climate Change, Agriculture, and Food Security (CCAFS), explained the vulnerability of the Mekong Delta region to adverse climate change impact, especially extreme drought, flooding, and salt intrusion. Yên said a wealth of research on natural disaster risks has not been “utilised well” to devise early warning systems and plans for coping with disaster. Since there are varying natural characteristics, production practices and infrastructure development levels in the sub regions…... [read more]

Lower land rent for wastewater treatment projects Van Nam By Van Nam - The Saigon Times Daily HCMC - The investors of concentrated drainage and wastewater treatment projects in urban and residential sites in rural areas will be allowed to enjoy lower land rent and land use fees. The investors will also get financial support from local budgets for infrastructure development serving their water drainage and wastewater treatment projects, according to the Government’s Decree 80/2014/ND-CP which will take effect on January 1 next year. The decree clarifies such incentives will apply to the drainage and wastewater treatment projects meeting requirements for efficient use of land, energy saving, processing and treating wastewater and sludge for reuse, and being environment-friendly. The new decree also rules out price differences for local and foreign individuals and organizations, and the charges will be collected based on the amount of waste discharge and pollutants in it. The decree stipulates that the suppliers of water services should be responsible for collecting charges for drainage services via water usage bills paid by households.... [read more]

Government wants higher budget limit, more bonds Tu Hoang By Tu Hoang - The Saigon Times Daily HANOI – The Government, facing a lack of capital for half-done infrastructure projects, on Wednesday made formal bids at the National Assembly (NA) sitting to tap more financial sources to make up for the shortfall. The ministers of Finance and Planning and Investment, on behalf of the Government, proposed the NA to loosen the purse string by raising the budget deficit to 5.3% of gross domestic product on one hand and issuing an additional VND170 trillion of Government bonds. Minister of Finance Dinh Tien Dung proposed in the afternoon session that the NA allow for raising the budget deficit to 5.3% of GDP instead of 4.8% approved earlier by the law-making body. If the proposal is approved, the Government will have an additional VND20 trillion, or nearly US$1 billion, for its spending. The Finance Minister also suggested that the Government make use of other financial sources, including 75% of profits from oil and gas, and all dividends generated from State stakes in enterprises that have not been transferred back to the State Capital Investment Corporation. Such financial sources are expected to help cover the shortfall in State budget revenue this year. According to a report of the Government, the total budget revenue this year is estimated at VND752 trillion, or nearly US$36 billion, which is some VND64 trillion lower than targeted. This would be the first time in as many years the budget…... [read more]

The 9th Party Central Committee, in the report on documents of the 10th National Party Congress, affirmed, “Our Party has always considered ethnic issues and ethnic unity a strategic, fundamental and long-term concern of our revolution.”Vietnam consists of many ethnic groups. In thousands of years of national construction and defence, they have stood shoulder to shoulder in the common struggle against foreign invaders and natural calamities to work towards national construction. Ethnic groups in Vietnam constitute a richly diverse but unified Vietnamese civilisation. Ethnic unity is the guideline that our Party adhered to immediately after its establishment and throughout the revolutionary process. This assessment proceeded from a profound analysis of major characteristics of all ethnic groups in Vietnam: (1) Ethnic groups in Vietnam have experienced a long-term history together in the national building and defence process. (2) Ethnic groups nationwide have mingled with each other, and most of minority people live in mountainous, highland and border areas, which have political, economic and defensive importance. (3) The historical development process has created a socio-economic development gap among ethnic groups. (4) Although the size of ethnic groups is not equal, their unique cultural identities have added to the diversity of the Vietnamese culture. (5) Ethnic groups have shared a national history, and are closely connected to the establishment and development of a unified Vietnam.Early in the 20th century, ethnic issues in Vietnam emerged from different ideologies. After the Can Vuong movement, patriotic scholars launched a struggle against colonialist rule to wrest back…... [read more]




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