Former executives of Sacombank kept in custody for investigation

Vietnam’s National Assembly supports stronger economic ties with US (Illustrative image. Source: VNA) Hanoi (VNA) – The National Assembly (NA) of Vietnam always backs stronger economic and trade cooperation with the US and facilitates the adoption of legal regulations to create a transparent and favourable business environment for foreign businesses, including those from the US. NA Vice Chairman Phung Quoc Hien made the statement at a reception for Calin Dragan, Region Director ASEAN & Middle East for Bottling Investment Group at the Coca-Cola Company, in Hanoi on August 1. The comprehensive cooperative partnership between Vietnam and the US has seen positive developments, he said, adding that the US is one of the leading trade partners and a major investor in Vietnam. He congratulated the company on its accomplishments in Vietnam over the past 20 years, noting Coca-Cola products have become popular among Vietnamese customers. The legislator expressed his belief that the success of the group will boost the cooperation prospects between the two countries, especially in the fields of trade and economy. The Vietnamese government has offered a lot of incentives to the group since its operation in the Southeast Asian country. In 2014, Coca-Cola started reporting its profits and paying tax to the Vietnamese State budget.  This not only illustrates the company’s legal responsibility and business ethics but also reinforce customers’ trust, Hien said. He hoped the company would continue making more contributions to the State budget and social activities…... [read more]

At the meeting (Source: VNA) Hanoi (VNA) – Deputy Prime Minister Vuong Dinh Hue requested the Ministry of Labour, Invalids and Social Affairs to carefully review poor districts in accordance with Resolution 30a while chairing a meeting of the Central Steering Committee on National Target Programmes in 2016-2020 in Hanoi on August 1. The meeting was meant to review the progress of the national target programmes on sustainable poverty reduction and new rural development and set the committee’s tasks to accomplish the targets of this year. Speaking at the event, Hue said public capital disbursement remained slow, equivalent to over 30 percent in seven months. He asked the Ministry of Planning and Investment (MoPI) to review resources allocation in the two national target programmes to devise proposals to add into the Government’s resolution on speeding up the progress and quality of public investment disbursement. The MoPI must coordinate with the ministries of Finance and Agriculture and Rural Development to promptly issue a detailed guideline on criteria for basic construction debts in the national target programmes on new rural development. Hailing the efficiency of credit for new rural development, Hue required the Vietnam Bank for Social Policies (VBSC) to study resources to increase credit for the campaign. The Deputy PM also called for special attention to be paid to “soft criteria” of poverty reduction, like cultural values, living environment, social safety and order, and livelihoods. According …... [read more]

Prime Minister Nguyen Xuan Phuc (R) and Mozambique’s Prime Minister Carlos Agostinho do Rosario meet with the press after their talks (Photo: VNA) Hanoi (VNA) – Mozambique’s Prime Minister Carlos Agostinho do Rosario has called upon Vietnamese businesses to engage more in trade, oil and gas, marine transport, and processing farm produce and seafood to soon realise the trade target set by the two countries’ leaders. Rosario, who is paying an official visit to Vietnam for the first time from July 31 to August 3, made the appeal during his talks with Prime Minister Nguyen Xuan Phuc in Hanoi on August 1. The host described the visit as an important milestone in the bilateral relations after the visit to Mozambique by former President Truong Tan Sang in March 2016. The two Government leaders expressed their satisfaction at the growing traditional friendship between Vietnam and Mozambique. Regarding political ties, they agreed to maintain delegation exchanges at all levels while coordinating and supporting each other at international forums. They discussed challenges in security, politics and economics along with regional and global issues of mutual concerns.   [Mozambican PM’s Vietnam visit to enhance bilateral ties] The two sides pledged to contribute to the maintenance of peace and cooperation in the region and beyond on the basis of respecting international law and addressing any disputes via peaceful means and in line with international law. PM Phuc proposed Mozambique support Vietnam to become a non-permanent member…... [read more]

In the article, Deputy PM Minh recalled the formation of ASEAN in Bangkok, Thailand, on August 8, 1967 with Indonesia, Malaysia, Singapore, Thailand and the Philippines as its founding members.  “ASEAN was born to create a firm foundation for common actions in order to enhance cooperation in Southeast Asia in the spirit of equality and partnership, contributing to peace and progress in the region,” he wrote.  After admitting Brunei in 1984, Vietnam in 1995, Laos and Myanmar in 1997, and Cambodia in 1999, ASEAN now brings together ten members. The first ASEAN Summit in 1976 demonstrated the group’s greater attention and stronger political commitments to regional cooperation.  The ASEAN Free Trade Area (AFTA), which was established in 1992 as the outcome of the first 25 years of economic cooperation of the group, has created an important foundation for the establishment of the ASEAN Economic Community.  Formed in 1994 in the spirit of promoting peace and security through dialogue and cooperation in Asia-Pacific, the ASEAN Regional Forum (ARF) initiated dialogue and consultation mechanisms on security and political issues in the region, the Deputy PM added.  He also recalled the signing of the ASEAN Charter in 2007, turning ASEAN from a merely cooperation organisation into a legal entity.  Despite close geographical locations, the ASEAN member countries have different political systems, cultures, languages and development levels. However, the gaps have been narrowed and the establishment of the ASEAN Community on December 31,…... [read more]

ASEAN was formed in Bangkok, Thailand, on August 8, 1967 (Source: asean.org)   Hanoi (VNA) – With its goodwill, endeavours, enthusiasm and responsibility, Vietnam has significantly contributed to the common achievements of the Association of Southeast Asian Nations (ASEAN), Deputy Prime Minister, Foreign Minister Pham Binh Minh has written in an article marking the group’s 50th founding anniversary. In the article, Deputy PM Minh recalled the formation of ASEAN in Bangkok, Thailand, on August 8, 1967 with Indonesia, Malaysia, Singapore, Thailand and the Philippines as its founding members. “ASEAN was born to create a firm foundation for common actions in order to enhance cooperation in Southeast Asia in the spirit of equality and partnership, contributing to peace and progress in the region,” he wrote. After admitting Brunei in 1984, Vietnam in 1995, Laos and Myanmar in 1997, and Cambodia in 1999, ASEAN now brings together ten members. The first ASEAN Summit in 1976 demonstrated the group’s greater attention and stronger political commitments to regional cooperation. The ASEAN Free Trade Area (AFTA), which was established in 1992 as the outcome of the first 25 years of economic cooperation of the group, has created an important foundation for the establishment of the ASEAN Economic Community. Formed in 1994 in the spirit of promoting peace and security through dialogue and cooperation in Asia-Pacific, the ASEAN Regional Forum (ARF) initiated dialogue and consultation mechanisms on security and political issues in the region, the…... [read more]

NDO/VNA – Deputy Prime Minister Vuong Dinh Hue requested the Ministry of Labour, Invalids and Social Affairs to carefully review poor districts in accordance with Resolution 30a while chairing a meeting of the Central Steering Committee on National Target Programmes in 2016-2020 in Hanoi on August 1. The meeting was meant to review the progress of the national target programmes on sustainable poverty reduction and new rural development and set the committee’s tasks to accomplish the targets of this year. Speaking at the event, Hue stated that public capital disbursement remained slow, equivalent to over 30% in seven months. He asked the Ministry of Planning and Investment (MoPI) to review resources allocation in the two national target programmes to devise proposals to add into the Government’s resolution on speeding up the progress and quality of public investment disbursement. The MoPI must coordinate with the ministries of Finance and Agriculture and Rural Development to promptly issue a detailed guideline on criteria for basic construction debts in the national target programmes on new rural development. Hailing the efficiency of credit for new rural development, Hue required the Vietnam Bank for Social Policies (VBSC) to study resources to increase credit for the campaign. The Deputy PM also called for special attention to be paid to “soft criteria” of poverty reduction, like cultural values, living environment, social safety and order, and livelihoods. According to Deputy Minister of Planning and Investment Nguyen Van Hieu, the total State funding for…... [read more]

NDO/VNA – Deputy Prime Minister Vuong Dinh Hue requested the Ministry of Labour, Invalids and Social Affairs to carefully review poor districts in accordance with Resolution 30a while chairing a meeting of the Central Steering Committee on National Target Programmes in 2016-2020 in Hanoi on August 1. The meeting was meant to review the progress of the national target programmes on sustainable poverty reduction and new rural development and set the committee’s tasks to accomplish the targets of this year. Speaking at the event, Hue stated that public capital disbursement remained slow, equivalent to over 30% in seven months. He asked the Ministry of Planning and Investment (MoPI) to review resources allocation in the two national target programmes to devise proposals to add into the Government’s resolution on speeding up the progress and quality of public investment disbursement. The MoPI must coordinate with the ministries of Finance and Agriculture and Rural Development to promptly issue a detailed guideline on criteria for basic construction debts in the national target programmes on new rural development. Hailing the efficiency of credit for new rural development, Hue required the Vietnam Bank for Social Policies (VBSC) to study resources to increase credit for the campaign. The Deputy PM also called for special attention to be paid to “soft criteria” of poverty reduction, like cultural values, living environment, social safety and order, and livelihoods. According to Deputy Minister of Planning and Investment Nguyen Van Hieu, the total State funding for…... [read more]

Bitcoin's underlying software code could be split on Tuesday to create a clone called "Bitcoin Cash," potentially providing a windfall for holders of the digital currency. A Bitcoin (virtual currency) coin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. The initiative is being led by a small group of mostly China-based bitcoin miners - who get paid in the currency for contributing computing power to the bitcoin network - who are not happy with proposed improvements to the currency's technology. They have initiated what is known as a "fork" - where blockchain, a public ledger of all bitcoin transactions, splits into two potential paths - that is set to be activated on Aug. 1. A fork, if it goes ahead, would be significant as it could create a new competitor for bitcoin, which remains the oldest and most valuable digital currency. It is not clear if the fork will happen and how much the new coin would be worth. If the fork goes ahead on Tuesday, anyone owning bitcoins before the split will have access to an equal amount of Bitcoin Cash for free, which they will then be able to trade for fiat currencies - legal tender backed by an issuing government - or other digital currencies. "This is somewhat like a stock split," said Jeff Garzik, chief executive and co-founder of Bloq, a blockchain company. "You go to sleep with 100 bitcoins and wake up in the morning…... [read more]

Prime Minister Nguyen Xuan Phuc has approved the establishment of the Vietnam Press Museum run by the Vietnam Journalists’ Association. The museum will be located on Duong Dinh Nghe street, Yen Hoa ward, Cau Giay district of Hanoi, as part of the national museum system. It is tasked to collect, preserve and exhibit cultural heritage showing the development of Vietnam’s press, and will conduct research serving the protection of Vietnamese press’s cultural heritage value. The PM also okayed the adjustment of the planning scheme for the development of industrial parks (IPs) in the Central Highlands province of Dak Lak until 2020. The Government leader agreed on the expansion of the Hoa Phu IP with additional area of 150 hectares, and the addition of a new project of Phu Xuan IP in Ea Drong commune, Cu M’gar district with an area of 325.6 hectares. The PM assigned the provincial People’s Committee to work with the Ministry of Natural Resources and Environment to adjust the land use plan and submit it to the Government for approval. The provincial People’s Committee was also asked to conduct procedures to form the IPs in different periods to suit the investment attraction of the province, while supervising the observation of legal regulations on environmental protection, and transforming the land use purpose and design measures to stablise the lives of locals whose land is revoked for the IP construction. The PM also asked the province to build houses and other utilities for workers at the IPs. VNA... [read more]

Formula 1 officials are looking at the possibility of adding Vietnam to its schedule as a replacement for Malaysia, which will end a 19-year relationship with the sport next year, The Sun reported. The report said that the American Liberty Media Corporation, which owns the racing company, and F1 Chief Executive Chase Carey are both open to the new market. F1, officially known as the FIA Formula One World Championship, currently holds races in China, Malaysia and Singapore each season. The 2017 season has 20 races that started in Australia in March and end in Abu Dhabi in November. Several sponsors are keen to increase their market share in Asia-Pacific, and with Malaysia leaving the track after 19 years, there’s space for a replacement. Vietnam opened its first professional racetrack for cars and motorcycles in Long An Province, around 30 kilometers from Ho Chi Minh City, last year, but the circuit currently does not meet all the requirements set out for the sport. Former F1 chief Bernie Ecclestone told The Sun that he was offered the opportunity to meet Vietnam’s president last year to discuss holding a race in Vietnam, but he turned it down. He said the country had no “racing history”, which is true if he was referring to official car and motorbike races. Nevertheless, the country has a big interest in racing and many F1 fans travel to Malaysia to watch the spectacle live. A new government decree in February legalized betting on horse and greyhound…... [read more]




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