Moody’s: VN economy can absorb shocks better than Cambodia

Vietnam’s safety standards have improved backed by strong economic growth and recent regulatory reforms, according to a new safety index released by Underwriters Laboratories (UL) in HCM City on Tuesday. UL releases its safety index in HCM City on Tuesday.  Countries are assessed based on three measurable drivers of safety: institutional drivers like economics, education, governance and technology; safety frameworks including safety regulations and infrastructure; and safety outcomes including unintentional injuries. The report said Vietnam’s safety index value had steadily improved since 2000. “The country fared relatively well in safety frameworks compared to other ASEAN nations largely due to recent laws enacted to enhance occupational safety and health,” it said. The UL safety index places Vietnam sixth among the 10 ASEAN nations in terms of overall safety with a value of 62 out of 100. Vietnam exhibited comparatively moderate safety outcomes as the number of accidental injuries, while still at a low rate, have only marginally decreased over the years. Transport injures, falls, drowning and miscellaneous incidents continue to be the main challenge in Vietnam, making up the majority of unintentional injures, it said. UL is a global safety science company. Its index is the quantification of the relative state of safety in nearly 190 countries around the world. Based on societal drivers and outcomes related to unintentional injury, the index measures the contributions of national resources and institutions, safety systems and frameworks and safety outcomes. VNS... [read more]

Vietnam’s safety standards have improved backed by strong economic growth and recent regulatory reforms, according to a new safety index released by Underwriters Laboratories (UL) in HCM City on Tuesday. UL releases its safety index in HCM City on Tuesday.  Countries are assessed based on three measurable drivers of safety: institutional drivers like economics, education, governance and technology; safety frameworks including safety regulations and infrastructure; and safety outcomes including unintentional injuries. The report said Vietnam’s safety index value had steadily improved since 2000. “The country fared relatively well in safety frameworks compared to other ASEAN nations largely due to recent laws enacted to enhance occupational safety and health,” it said. The UL safety index places Vietnam sixth among the 10 ASEAN nations in terms of overall safety with a value of 62 out of 100. Vietnam exhibited comparatively moderate safety outcomes as the number of accidental injuries, while still at a low rate, have only marginally decreased over the years. Transport injures, falls, drowning and miscellaneous incidents continue to be the main challenge in Vietnam, making up the majority of unintentional injures, it said. UL is a global safety science company. Its index is the quantification of the relative state of safety in nearly 190 countries around the world. Based on societal drivers and outcomes related to unintentional injury, the index measures the contributions of national resources and institutions, safety systems and frameworks and safety outcomes. VNS... [read more]

UL releases its safety index in HCM City on Tuesday. — VNS Photo Viet Nam’s safety standards have improved backed by strong economic growth and recent regulatory reforms, according to a new safety index released by Underwriters Laboratories (UL) in HCM City on Tuesday. Countries are assessed based on three measurable drivers of safety: institutional drivers like economics, education, governance and technology; safety frameworks including safety regulations and infrastructure; and safety outcomes including unintentional injuries. The report said Viet Nam’s safety index value had steadily improved since 2000. “The country fared relatively well in safety frameworks compared to other ASEAN nations largely due to recent laws enacted to enhance occupational safety and health,” it said. The UL safety index places Viet Nam sixth among the 10 ASEAN nations in terms of overall safety with a value of 62 out of 100. Viet Nam exhibited comparatively moderate safety outcomes as the number of accidental injuries, while still at a low rate, have only marginally decreased over the years. Transport injures, falls, drowning and miscellaneous incidents continue to be the main challenge in Viet Nam, making up the majority of unintentional injures, it said. UL is a global safety science company. Its index is the quantification of the relative state of safety in nearly 190 countries around the world. Based on societal drivers and outcomes related to unintentional injury, the index measures the contributions of national resources and institutions, safety systems…... [read more]

Prime Minister Nguyen Xuan Phuc has called for an increase in credit growth to 21 per cent this year to help the country hit its economic growth target, potentially adding to concerns over the pace of new lending. The Prime Minister told a government meeting last weekend of the goal, emphasizing the importance of hitting the 6.7 per cent GDP growth target for the year. Data from the General Statistics Office showed that credit growth during the first half was 7.5 per cent compared to a year ago; the highest in six years. Meanwhile, State Bank of Vietnam (SBV) Governor Le Minh Hung said that credit growth at a pace of 9.06 per cent was seen as at June 30 compared to the end of 2016. In February, the central bank set a 2017 credit growth target of 18 per cent, and there has been no announcement that the official target has been increased. In July, the SBV sprang a surprise on markets by reducing the refinancing rate, rediscount rate, overnight electronic interbank rate, and the rate of loans to offset capital shortages in clearance between the central bank and domestic banks by 25 basis points. The cuts, which come three years after the previous move, reduced the refinancing rate to 6.25 per cent and the rediscount rate to 4.25 per cent and was aimed at stimulating the pace of economic growth towards the 6.7 per cent target for the year. Few would question whether there was room to cut…... [read more]

SonKim Land was honoured with the award of The Best Real Estate Deal of the Year 2016-2017 and The Company with Typical Public Disclosure of the Year 2016-2017 at the 9th Vietnam M&A Forum 2017 themed "Seeking a Big Push" on August 10 in Ho Chi Minh City. SonKim Land took home two prestigious awards at Vietnam M&A Forum 2017 RELATED CONTENTS: The winners of Vietnam M&A Forum 2017 Dazzling future of M&A activities M&A Forum 2017: second session on international investors' perspective Legal reforms to push M&A market forward Vietnam M&A Forum 2017 underway SonKim Land selects Hoa Binh for Serenity Sky Villas SonKim Land announces $100 million follow-up fundraising with EXS Capital and ACA Investments SonKim Land wins IAIR award for leadership The honour ceremony of M&A Deal Awards was one of the annual activities of Vietnam M&A Forum. A list of significant M&A deals selected by the Independent Appraisal Panel will help businesses and investors assess and review the development of the size and nature of the Vietnamese M&A market in the past year. This year, SonKim Land has successfully mobilised $100 million (the first round of this investment—$46 million—has already been disbursed) from EXS Capital and ACA Investments through the Lemongrass Master…... [read more]

VietNamNet Bridge – A massive influx of migrants from remote northern provinces to the Tay Nguyen (Central Highlands) region has put intense pressure on the local population and has hindered socio-economic development. The Ede ethnic minority in the Central Highlands province of Lam Dong. A massive influx of migrants from remote northern provinces to the Central Highlands region has put intense pressure on the local population and has hindered socio-economic development.  The Central Highlands is considered a promising destination for migrants because of favourable weather conditions and rich basalt soil. Such movement can be prompted by State policy or out of economic need. In Dak Nong Province, home to vast areas of land and forests, migrants move into natural and protected forests, encroaching on land for production or putting up tents illegally. Five years ago, some households moved into zones 1644 and 1645 of Hop Tien co-operative in Quang Son Commune, Dak Glong District to live and hunt. Now, up to 126 households are living in the area, causing increased damage to forest land. Nguyen Anh Duc, director of Hop Tien co-operative said that members of the households had damaged the vehicles of forest rangers and attacked them using homemade weapons, such as guns and spears. Faced with such an aggressive reaction, and severely outnumbered, forest rangers and local authorities felt the situation was hopeless. Meanwhile, in Dak Lak Province, local authorities are concerned about the pressure on the local population caused by free migration. During the 40 years from…... [read more]

There is a new sense of urgency in Vietnam to equitize state-owned enterprises (SOEs) and use the money raised from public offerings to alleviate the government’s fiscal burden, HSBC said in a new report on the country's economic prospects for August. Equitization is the term Vietnam uses to describe the process of issuing shares to partially privatize state-owned businesses in which the government will still hold the majority stake. Vietnam’s policymakers, in recent statements, have framed the sale of SOEs as a means to both increase fiscal revenue and reduce government expenditure, the London-based lender said. Late last year, Prime Minister Nguyen Xuan Phuc signed off on a decision which pushes for further divestment of state capital in existing SOEs by eliminating or reducing the minimum level of ownership that the government holds in certain industries. The decision provided a clearer roadmap for equitization by saying that the state will equitize 137 SOEs and sell its entire stakes in 103 firms. The Ministry of Finance said in June that the country’s public debt, which includes central government debt, government-backed loans and local government debt, may reach the ceiling set by the legislative National Assembly of 65 percent of gross domestic product (GDP) from 2017-2018. Assuming that economic growth hits 6.7-7 percent this year, public debt will account for 64.8 percent of GDP, the ministry projected. Vietnam has set an economic growth target of 6.7 percent this year, but many experts call it too ambitious. Deputy Prime Minister Vuong Dinh…... [read more]

The Ede ethnic minority in the Central Highlands province of Lam Dong (Photo: VNA) Hanoi (VNA) - A massive influx of migrants from remote northern provinces to the Tay Nguyen (Central Highlands) region has put intense pressure on the local population and has hindered socio-economic development. The Central Highlands is considered a promising destination for migrants because of favourable weather conditions and rich basalt soil. Such movement can be prompted by State policy or out of economic need. In Dak Nong province, home to vast areas of land and forests, migrants move into natural and protected forests, encroaching on land for production or putting up tents illegally. Five years ago, some households moved into zones 1644 and 1645 of Hop Tien cooperative in Quang Son commune, Dak Glong district to live and hunt. Now, up to 126 households are living in the area, causing increased damage to forest land. Nguyen Anh Duc, director of Hop Tien cooperative said that members of the households had damaged the vehicles of forest rangers and attacked them using homemade weapons, such as guns and spears. Faced with such an aggressive reaction, and severely outnumbered, forest rangers and local authorities felt the situation was hopeless. Meanwhile, in Dak Lak province, local authorities are concerned about the pressure on the local population caused by free migration. During the 40 years from 1976 to 2016, more than 59,000 households with some 290,000 inhabitants of 60 provinces…... [read more]

The development of Vietnam-Singapore Industrial Park Joint Venture Company (VSIP) is a prime example of the success of Singaporean investors in Vietnam for many years. Most Singaporean investment projects in Vietnam are considered to be effective and greatly contribute to job creation, export growth and economic growth in Vietnam. VSIP, a joint venture between Becamex IDC Corporation and Sembcorp Group, has been active in Vietnam for more than 20 years, a typical example of successful Singaporean investors in Vietnam. Set up in 1996 from a landmark agreement between the two governments, VSIP has grown and rapidly expanded to become a leading industrial developer in Vietnam and is operating seven modern projects all over the country. VSIP is seen as one of the symbols of friendly relationship and good economic cooperation between the two countries. VSIP has to date attracted a total investment of US$9 billion from over 630 multinational corporations, including the world's leading corporations such as Microsoft, Pepsi and Unilever. While promoting the transition process and enhancing economic value from contributions of foreign business customers, VSIP has also succeeded in creating positive impacts on society and improving livelihoods of local people. It has created over 174,000 jobs in the service industry. To continue its growth momentum and provide more diversified services to investors, VSIP also has announced the signing of memorandums of understanding (MoUs) on project expansion studies in Binh Duong and Bac Ninh provinces. These two expansion projects are likely to…... [read more]

A massive influx of migrants from remote northern provinces to the Tay Nguyen (Central Highlands) region has put intense pressure on the local population and has hindered socio-economic development. The Ede ethnic minority in the Central Highlands province of Lam Dong. A massive influx of migrants from remote northern provinces to the Central Highlands region has put intense pressure on the local population and has hindered socio-economic development. The Central Highlands is considered a promising destination for migrants because of favourable weather conditions and rich basalt soil. Such movement can be prompted by State policy or out of economic need. In Dak Nong Province, home to vast areas of land and forests, migrants move into natural and protected forests, encroaching on land for production or putting up tents illegally. Five years ago, some households moved into zones 1644 and 1645 of Hop Tien co-operative in Quang Son Commune, Dak Glong District to live and hunt. Now, up to 126 households are living in the area, causing increased damage to forest land. Nguyen Anh Duc, director of Hop Tien co-operative said that members of the households had damaged the vehicles of forest rangers and attacked them using homemade weapons, such as guns and spears. Faced with such an aggressive reaction, and severely outnumbered, forest rangers and local authorities felt the situation was hopeless. Meanwhile, in Dak Lak Province, local authorities are concerned about…... [read more]




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