Van Don Special Economic Zone envisioned to be green, modern urban

Unsteady growth A Central Institute for Economic Management (CIEM) report showed that annual economic growth averaged 6.5 percent between 2007–2011, much lower than the 7.8 percent figure recorded between 2002–2006 and also far below the 7.5–8 percent target. Except for the agro-forestry and fishery sector, the construction-industry and service sectors failed to meet expectations. The industry-construction sector alone - the economic powerhouse that contributes up to 40 percent of the country’s total GDP – suffered a sharp fall in its growth compared to the pre-WTO period. Under its economic restructuring plan, Vietnam hoped to raise the agro-forestry-fishery sector’s revenue to 15–16 percent of total GDP by 2010, industry-construction revenue to 43–44 percent, and services revenue to 40–41 percent. Contrary to expectations, the country has not fulfilled these major targets. The disappointing results from these three major economic sectors slowed down the national economy in terms of both growth and quality. Many experts argued Vietnam was not well prepared for the challenges inherent in opening its economy to the world and thus suffered a number of shocks. Former CIEM official Dr Pham Lan Huong blamed economic inefficiency for the slow economic restructuring, listing obstacles including low productivity and values, and small scale and scattered production. In times of economic stagnation, Vietnam can usually rely on its traditional agricultural production. However, highly subsidised cotton planting and fruit and vegetable processing are revealing weaknesses. The country’s garment and footwear industries have yet to justify their leading industrial positions. Economic expert Pham Chi Lan…... [read more]

The task force, headed by Minister-Chairman of the Government Office Mai Tien Dung, comprises of Deputy Ministers of Finance, Planning and Investment, Justice, Home Affairs, Government Inspectorate, and the Government Office. The task force is mandated to submit monthly reports which include progresses, measures to fix shortcomings of ministries, agencies and localities, as well as sanctions. The move aims to tighten governance disciplines, foster transparency and accountability of inferior levels. In his swearing-in remarks last July, PM Phuc pledged to build a transparent and effective Government. The Government must try to streamline administrative apparatus at all levels while resources must be used transparently and effectively for the common benefits of the people. In order to achieve fast and sustainable development, there is a must to beef up institutional reform, make education, science and technology prosper, and pay special attention to environmental protection, the Government chief stressed. He also called for increased investment in education so that poor students could have chance to pursue studies or even to become future leaders as well as more active energies to cope with increasingly fiercer challenges caused by climate change. Following the environmental breakdown caused by Formosa, PM Phuc pledged to prevent similar incidents by reviewing big projects and strictly controlling commitments on environment and technology transfer. PM Phuc committed to improving the efficiency of State-owned enterprises, reforming administrative procedures, and creating an environment conducive to business development, especially private, small and medium enterprises./. By Thuy Dung... [read more]

The Hanoitimes - With 485 approval votes, or 98.18%, legislators of the newly-formed National Assembly on Tuesday re-elected Mr. Nguyen Xuan Phuc as Prime Minister of Vietnam in the tenure 2016-2021. Re-elected Prime Minister takes his oath PM Phuc was born in 1954 in Quang Nam Province. He gained Bachelor of Economics at Ha Noi National Economics University in 1978. PM Phuc was elected as PM on April 7, 2016 at the 11th working session of the 13th National Assembly.At the swearing-in ceremony which took place after the election, PM Nguyen Xuan Phuc pledged to be absolutely loyal to the Fatherland, the people, and the Constitution of the Socialist Republic of Viet Nam, and to make all-out efforts to fulfill the duties assigned by the Party, State and people. PM Phuc said that Viet Nam needs to double efforts to narrow development gap with the world as the country ranks 14th in terms of population but the GDP per capital ranks 133th. Higher growth is an urgent requirement as the country’s golden population will end in the next ten year, he said. The PM said that the Government must try to streamline administrative apparatus at all levels while resources must be used transparently and effectively for the common benefits of the people. In order to achieve fast and sustainable development, there is a must to accelerate institutional reform, make education, science and technology prosper , and pay special attention to environmental protection, the Government chief stressed. He also called for…... [read more]

At the swearing-in ceremony which took place after the election, PM Nguyen Xuan Phuc pledged to be absolutely loyal to the Fatherland, the people, and the Constitution of the Socialist Republic of Viet Nam, and to make all-out efforts to fulfill the duties assigned by the Party, State and people. PM Phuc said that Viet Nam needs to double efforts to narrow development gap with the world as the country ranks 14th in terms of population but the GDP per capital ranks 133th. Higher growth is an urgent requirement as the country’s golden population will end in the next ten year, he said. The PM said that the Government must try to streamline administrative apparatus at all levels while resources must be used transparently and effectively for the common benefits of the people. In order to achieve fast and sustainable development, there is a must to accelerate institutional reform, make education, science and technology prosper , and pay special attention to environmental protection, the Government chief stressed. He also called for increased investment in education so that poor students could have chance to pursue studies or even to be become future leaders as well as more active energies to cope with increasingly fiercer challenges caused by climate change. Following the environmental breakdown caused by Formosa, PM Phuc pledged not to repeat the similar incidents by reviewing big projects and strictly controlling commitments on environment and technology transfer. PM Phuc committed to improving the efficiency of State-owned enterprises, reforming administrative procedures,…... [read more]

After five years of implementing the Resolution of the 9th Party Congress of Tra Vinh (2010-2015 term), Tra Vinh province has witnessed a lot of changes, featured by higher proportion of industry and more developed urban and rural areas. Mr Dong Van Lam, Chairman of the Tra Vinh Provincial People's Committee, said, "From these successes, Tra Vinh is focusing its efforts on economic restructuring, with emphasis placed on the development of key economic sectors to spur breakthrough growth and enhance economic competitiveness." Minh Kiet reports. Could you tell us the outstanding achievements Tra Vinh province has attained in the 2010 - 2015 term? The Resolution of the 9th Provincial Party Congress was enforced when domestic and world economies are volatile. However, the Party, the government, army and people of Tra Vinh province have promoted unity and initiative to overcome difficulties to realise the Resolution and achieve very important results like good economic growth and right-track economic restructuring. The province’s policies and mechanisms have been gradually perfected and generated effective effects. Local potential has been unlocked to meet socioeconomic development requirements. Specifically, the annual economic growth rate averaged 12.21 percent in the 2010 - 2015 period. Agriculture, forestry and fisheries contributed a decreased proportion to the local economy, while industry and services accounted for higher proportions. GDP per capita was VND25 million in 2013 and estimated VND30.7 million in 2015. All locally advantageous sectors witnessed steady growth. Total production was estimated at 6.313 million tonnes in five years. Fishery sector was…... [read more]

Since Vietnam joined the World Trade Organisation (WTO) five years ago, it has enjoyed many benefits, such as better import-export market access and increasing foreign direct investment. However, the country has faced numerous challenges, said economic experts. The country's economic growth rate reached an average of 6.5 percent per annum between 2007 and 2011, or the post-WTO period. The figure was much lower than the 7.8 percent level recorded from 2002-2006 and far below the 7.5-8 percent target, according to a report by the Central Institute for Economic Management (CIEM). A slowdown in the industrial, agricultural and services sectors was blamed for the below-target growth in the post-WTO period. In the reviewed period, except for the agro-forestry and fishery sectors, the construction-industry and services sectors failed to meet expectations. The industry-construction sector alone - the country's economic spearhead contributing up to 40 percent of national GDP - showed a sharp fall in growth compared to the pre-WTO period. The country did not fulfil its 2010 economic restructuring plan as the set goals of the agro-forestry-fishery sector contributing 15-16 percent, industry-construction, 43-44 percent, and services 40-41 percent to GDP were unsuccessful. It was argued that Vietnam was not well prepared for the challenges and therefore suffered a number of shocks. Former CIEM official Dr. Pham Lan Huong blamed economic inefficiency for the slow economic restructuring, small scale and scattered production, and poor productivity and values. Economic expert Pham Chi Lan wondered whether Vietnam used every opportunity that the WTO brought, adding…... [read more]

Banks and businesses need mutual trustCommercial banks are bearing the brunt of the economic slowdown, putting them in a paradoxical situation: they have an oversupply of money, but cannot lend it to businesses. Like many other economic sectors, the banking industry is struggling to weather the storm and support the national economy. Commercial banks are tipped to lower interest rates and reschedule debts, making it easier for businesses to access loans. Despite their continued efforts to restructure, the banks' operations have yet to meet expectations. Commercial banks experienced 'negative' credit growth in the first two months of 2013, and only recovered in March with a slight increase of 0.1 percent. While credit growth is yet to recover, deposits rose sharply by between 22-36 percent. This means money continues to pour in, and as a result, the banks now have a huge amount of cash in stock. However, they are now in a tight spot. On the one hand, they have to pay interest on these deposits, while on the other hand, they are required to establish reserve funds to guarantee unpaid bad debts owed by businesses. Banks rely on clients' deposits; they cannot refuse deposits or lower deposit interest rates far below the central bank's benchmark in order to maintain their regular big clients. Purchasing Government bonds with an annual interest rate of 8 percent is considered a solution to get over this stumbling block. Yet, all Government bonds have a maturity date of over five years while most bank…... [read more]

(VOVworld) Vietnam is gearing up work on amendments to its 1992 Constitution. The Committee for Constitutional Amendment Drafting convened its 4th meeting on Wednesday in Hanoi to discuss the implementation of the 1992 Constitution and major amendments. It's a widely-heard opinion that, constitutional reform is necessary to create momentum for the development of Vietnam's economy, culture, education and society in line with the existing national renewal goals. The ultimate goal of the constitutional amendments is to build a unified, efficient and streamlined administrative apparatus. In its 2001 revision, the Constitution acknowledges the principle of building a socialist state governed by laws. But this principle is not reflected fully and consistently in specific provisions. The Constitution does not specify which agency exercises executive authority or judicial authority. The role, functions and relationship between state agencies are not clearly defined. Such restrictions hamper the operation of the state apparatus. Nguyen Dinh Quyen, a National Assembly deputy from Hanoi, told VOV: "The 1992 Constitution stipulates the comprehensive reform of our economic, cultural and social status as well as citizens' fundamental rights, but retains the basic models of state agencies, which were stated in the previous version. So we need a basic direction for state apparatus reforms. The Constitution should clarify the principle of state power belonging to the people and the coordination of state agencies in exercising legislative, executive, and judicial powers". The 1992 Constitution recognizes basic human rights which conform to international practice and treaties to which Vietnam is a signatory. But,…... [read more]

VNGOP - The Government's regular meeting for July 2007 was presided on July 16 by PM Nguyễn Tấn Dũng and his deputies Nguyễn Sinh Hùng, Phạm Gia Khiêm and Trương Vĩnh Trọng. The PM asked ministers and heads of ministerial-level agencies to fulfill socio-economic goals set for 2007.   The PM and his deputies preside the meeting - Photo: VNGOP The Cabinet considered and discussed the Plan to reform the policies on salary, social insurance and allowances in 2008-2010; draft decree instructing the implementation of some articles in the Law on Enterprise; draft decree amending and supplementing Decree 188/2004/NĐ-CP on methods to value land of all kinds proposed by the ministries of Internal Affairs, Planning and Investment, and Finance respectively. About the Plan to reform the policies on salary, social insurance and allowances in 2008-2010, PM Nguyễn Tấn Dũng ordered the compilers to make the plan closer to the realities, so that it is possible to maintain budget balance. The Government head urged to speed up administrative reforms, engage the whole society in building schools and hospitals, streamline administrative apparatus, encourage the development of all economic sectors, and increase budget collection. Referring to the draft decree amending and supplementing Decree 188/2004/NĐ-CP on methods to value land of all kinds, PM Nguyễn Tấn Dũng asked the Government Office and competent ministries and sectors to accelerate the drafting of this decree to help local authorities promulgate proper prices for various kinds of land. "We should quicken the process of compiling the document and…... [read more]

VietNamNet Bridge – Nguyen Thi Phuong and her friends were invited to a party at the newly opened restaurant of Mon Ngon Sai Thanh last week. Mouth-watering: A plate of Bong snails fried with tamarind sauce. Phuong, a Quang Ninh native, said they were keen on trying something different. When she saw the snails section on the menu, Phuong remembered the time she enjoyed the famous boiled and steamed snails cooked with lemon leaves and citronella on Luong Van Can Street in Ha Noi’s Old Quarter. “I can never forget the fragrance and taste of the dish, particularly its nuoc cham (dipping sauce) with ginger, chili and garlic. “These ingredients help warm up the body, my herbalist father told me. He said the warmth was needed because the snail was cold, although it is nutritious and full of protein, it could cause stomach aches, dyspepsia or diarrhea.” But Phuong and her friends had never tried snail dishes from erstwhile Sai Gon, although they’d heard others praise them. So when they saw dishes like oc bong xao me (bong snail fried with tamarind sauce) and oc ca na xao bo cay (Ca Na snail fried with peppery butter) on the menu, they just had to try them. Soft and crisp: Ca Na snails fried with peppery butter. When the oc bong xao me was brought to the table, “my mouth watered. The bong snails were covered with a red and brown tamarind sauce and coconut juliennes. It was topped with red…... [read more]




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