PM Phuc highlights cooperation with Tokyo Gas

Prime Minister Nguyen Xuan Phuc (R) receives visiting President of the National Legislative Assembly of Thailand Pornpetch Wichitcholchai (Photo: VNA) Hanoi (VNA) – The official visit to Thailand by Prime Minister Nguyen Xuan Phuc from August 17-19 is expected to deepen the two countries’ relations in various fields such as politics, security, defence, economics and trade. Vietnam and Thailand established diplomatic ties in 1976. Since 1991, the bilateral rapports have strongly developed, especially after Vietnam’s engagement in the Association of Southeast Asian Nations (ASEAN) in 1995. Particularly, Vietnam and Thailand elevated their relations to “strategic partnership” during the visit to Thailand by Party General Secretary Nguyen Phu Trong in June 2013, becoming the first two nations in ASEAN to set up “strategic partnership”.   [Prime Minister welcomes Thailand’s top legislator] The two countries later signed an action programme to implement their strategic partnership in the 2014-2018 period on the occasion of the official visit to Vietnam by Thai Prime Minister Prayut Chan-o-cha in November 2014. Through regular delegation exchanges, Vietnam and Thailand have approved and carried out a number of bilateral cooperation mechanisms, notably the joint cabinet meeting, the joint committee on bilateral cooperation, and the deputy foreign ministerial-level political consultation. Given the establishment of the ASEAN Community in December 2015, the countries’ leaders agreed to enhance coordination to strengthen ASEAN solidarity and cooperation as well as promote the central role of the bloc in addressing regional and global issues. Trade and investment…... [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]

NDO/VNA – Prime Minister Nguyen Xuan Phuc stated that cooperation with Tokyo Gas Co Ltd is very important as oil and gas cooperation is one of the top priorities in Vietnam-Japan economic ties. He called on Tokyo Gas to run long-term business in Vietnam during his reception for the company’s President Michiaki Hirose in Hanoi on August 15. The leader noted that the Vietnamese Government always pays attention to and protects legitimate rights of foreign investors. He also highlighted that the Vietnamese Government’s views on developing the gas industry comprehensively and effectively by maximizing domestic resources and intensifying international cooperation. He lauded Tokyo Gas’s opening of its representative office in Vietnam and congratulated the company and PetroVietnam Gas Joint Stock Corporation (PV Gas) on the establishment of a liquefied natural gas (LNG) joint venture in Vietnam. Emphasing the large demand for environmentally friendly LNG in Vietnam and many other countries, PM Phuc expressed his belief that with good partners and with a favourable business environment, Tokyo Gas will gain successes in Vietnam. He suggested that Tokyo Gas should have working sessions with PV Gas and the Vietnamese Ministry of Industry and Trade if the company encounters any difficulty while investing in LNG, especially the Thi Vai LNG warehouse project in Cai Mep Industrial Zone in the southern province of Ba Ria-Vung Tau. In reply, Michiaki Hirose stated that both Vietnam and Japan have favorable conditions to develop the LNG market. Vietnam is an…... [read more]

NDO/VNA – Prime Minister Nguyen Xuan Phuc stated that cooperation with Tokyo Gas Co Ltd is very important as oil and gas cooperation is one of the top priorities in Vietnam-Japan economic ties. He called on Tokyo Gas to run long-term business in Vietnam during his reception for the company’s President Michiaki Hirose in Hanoi on August 15. The leader noted that the Vietnamese Government always pays attention to and protects legitimate rights of foreign investors. He also highlighted that the Vietnamese Government’s views on developing the gas industry comprehensively and effectively by maximizing domestic resources and intensifying international cooperation. He lauded Tokyo Gas’s opening of its representative office in Vietnam and congratulated the company and PetroVietnam Gas Joint Stock Corporation (PV Gas) on the establishment of a liquefied natural gas (LNG) joint venture in Vietnam. Emphasing the large demand for environmentally friendly LNG in Vietnam and many other countries, PM Phuc expressed his belief that with good partners and with a favourable business environment, Tokyo Gas will gain successes in Vietnam. He suggested that Tokyo Gas should have working sessions with PV Gas and the Vietnamese Ministry of Industry and Trade if the company encounters any difficulty while investing in LNG, especially the Thi Vai LNG warehouse project in Cai Mep Industrial Zone in the southern province of Ba Ria-Vung Tau. In reply, Michiaki Hirose stated that both Vietnam and Japan have favorable conditions to develop the LNG market. Vietnam is an…... [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 Ministry of Information and Communications (MIC) directed MobiFone Corporation and VTC Multimedia Corporation to finish their equitisation in 2018, while Vietnam Posts and Telecommunications Group (VNPT) should be equitised in 2019. International and domestic investors are eyeing MobiFone's equitisation Restructuring plans It is planned that before August 31, 2017, MIC will assess and consider approving the restructuring plans of MobiFone, VTC, and Corporation of Vietnam Post Office (VNPost). Also, during this period, the telecom provider VNPT’s restructuring plan will be submitted to the prime minster. Previously, on August 8, MIC established a Steering Committee for Enterprise Innovation and Development, with the aim of supporting enterprises under MIC’s management during the period of 2016-2020. Meanwhile, MIC published the equitisation routes for MobiFone, VNPT, and VTC. MIC’s Department of Enterprise Management said MIC had revised and reported to the PM about the equitisation routes of enterprises under MIC management. Based on this report, the PM has approved an enterprise portfolio specifying deadlines for the equitisation plans of each enterprise in the period of 2017-2020. In particular, MobiFone and VTC will be equitised in 2018, VNPT in 2019, and VNPost will not have to be equitised. In the first meeting of the MIC Steering Committee for Enterprise Innovation and Development, Minister Truong Minh Tuan, head of the Committee, required enterprises to stick to their restructuring schedules. “Two noticeable things that enterprises carrying out restructuring…... [read more]

Prime Minister Nguyen Xuan Phuc receives President of the National Legislative Assembly of Thailand Pornpetch Wichitcholchai (Photo: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc hosted a reception for President of the National Legislative Assembly of Thailand Pornpetch Wichitcholchai in Hanoi on August 14. The PM said he will lead a high-level Government delegation to visit Thailand from August 17-19 to exchange measures to promote bilateral friendship and cooperation, and increase the two countries’ strategic partnership. Vietnam and Thailand have enhanced coordination in various fields from politics, security, and defense to economics, trade, tourism, culture and society in recent times, Phuc said.   [Vietnam, Thailand should keep mutual support at int’l parliamentary forums] Thailand is the biggest trade partner of Vietnam in ASEAN with two-way trade reaching 12.5 billion USD in 2016. However, as Vietnam ran a trade deficit of 5 billion USD with Thailand, Phuc hoped the two countries will seek measures to balance trade and increase the bilateral trade to 20 billion USD by 2020. The tourism cooperation also developed with about 800,000 Vietnamese tourists visiting Thailand in 2016 while over 200,000 Thais travelling to Vietnam, he noted. The PM proposed Thailand open its market for Vietnamese goods and create more favourable conditions for Vietnamese workers to work in the country as well as encourage Thai businesses to boost investment in Vietnam. Vietnam will address difficulties and create conditions for Thai investors to do business, he affirmed. For his…... [read more]

Hanoi, August 14 (VNA) - The third open mathematics festival was launched on August 13 at the Hanoi University of Technology by the Vietnam Institute for Advanced Study in Mathematics.  The festival, which included a photo exhibition about mathematics application in daily life, seeks to create opportunities for students, teachers, parents and mathematicians from around the country to share their views and experiences related to mathematics.  Festival organisers also hope it will inspire lovers of mathematics and help promote the development of this field in Vietnam.  In another development, the Ministry of Education and Training awarded scholarships of 7.29 billion VND (324,000 USD) to 185 students from 12 universities and 297 high school students for excellence in mathematics.  In addition, 85 math projects were awarded 2.57 billion VND (114,200 USD).  Professor Tran Van Nhung, secretary general of the State Council for Professor Titles, said the award and scholarships would motivate teachers and students to continue striving for the country’s mathematics development.  The awards event is a part of the national target programme on mathematics development in the period 2010-20, which was approved by Prime Minister Nguyen Xuan Phuc.  Mathematics projects receiving the award must have been published on international magazines and must include one lecturer in addition to students.  Students awarded scholarships all had a grade of at least 9 in maths or had achievements in domestic and international contests for gifted students. VNA/VNP  ... [read more]

VietNamNet Bridge – The third open mathematics festival was launched yesterday at the Ha Noi University of Technology by the Viet Nam Institute for Advanced Study in Mathematics. The third open mathematics festival was launched yesterday at the Ha Noi University of Technology by the Viet Nam Institute for Advanced Study in Mathematics. — Photo tuoitrethudo.vn The festival, which included a photo exhibition about mathematics application in daily life, seeks to create opportunities for students, teachers, parents and mathematicians from around the country to share their views and experiences related to mathematics. Festival organisers also hope it will inspire lovers of mathematics and help promote the development of this field in Viet Nam. In another development, the Ministry of Education and Training awarded scholarships of VND7.29 billion ($324,000) to 185 students from 12 universities and 297 high school students for excellence in mathematics. In addition, 85 math projects were awarded VND2.57 billion (US$114,200). Professor Tran Van Nhung, general secretary of the State Council for Professor Titles, said the award and scholarships would motivate teachers and students to continue striving for the country’s mathematics development. The awards event is a part of the national target programme on mathematics development in the period 2010-20, which was approved by Prime Minister Nguyen Xuan Phuc. Mathematics projects receiving the award must have been published on international magazines and must include one lecturer in addition to students. Students awarded scholarships all had a grade of at least 9 in maths or had achievements in domestic…... [read more]

Illustrative photo (Photo: tuoitrethudo.vn)   Hanoi (VNA) - The third open mathematics festival was launched on August 13 at the Hanoi University of Technology by the Vietnam Institute for Advanced Study in Mathematics. The festival, which included a photo exhibition about mathematics application in daily life, seeks to create opportunities for students, teachers, parents and mathematicians from around the country to share their views and experiences related to mathematics. Festival organisers also hope it will inspire lovers of mathematics and help promote the development of this field in Vietnam. In another development, the Ministry of Education and Training awarded scholarships of 7.29 billion VND (324,000 USD) to 185 students from 12 universities and 297 high school students for excellence in mathematics. In addition, 85 math projects were awarded 2.57 billion VND (114,200 USD). Professor Tran Van Nhung, secretary general of the State Council for Professor Titles, said the award and scholarships would motivate teachers and students to continue striving for the country’s mathematics development. The awards event is a part of the national target programme on mathematics development in the period 2010-20, which was approved by Prime Minister Nguyen Xuan Phuc. Mathematics projects receiving the award must have been published on international magazines and must include one lecturer in addition to students. Students awarded scholarships all had a grade of at least 9 in maths or had achievements in domestic and international contests for gifted students.-VNA ... [read more]




Links Topics : http://news.c10mt.com/2017/08/pm-phuc-highlights-cooperation-with.html