Vietnam, Laos strengthen coordination to promote renovation

NDO – Eighty students and young professionals from the ten ASEAN countries gathered at a four day workshop which opened in Hanoi on August 1 to discuss the most pressing issues facing economic growth in Southeast Asia. The “Young Southeast Asian Leaders Initiative (YSEALI) Generation: E-Community!” workshop, hosted by the US Mission in Vietnam in collaboration with Kenan Foundation Asia and the Centre for Sustainable Development Studies (CSDS), aims to give participants core knowledge about the ASEAN Economic Community (AEC) and its impact on trade and development, as well as enhancing the leadership and soft skills of youth to give them the necessary skills to make a greater impact in their communities. Over 2,200 applications were submitted throughout the region. The participating youth were selected out of the numerous applications for the prestigious workshop based on their outstanding track record and interest in economic engagement at the community, national, and regional levels. Over the next four days, the event will feature expert panel discussions, case study challenges, and several relevant site visits, targeting to inspire and support the youth’s ability to contribute to sustainable economic growth in their communities and in the region. Speaking at the opening ceremony, US Ambassador to Vietnam, Ted Osius, stressed the important role of youth relating to regional development, saying that there are nearly 410 million people under 35 in the ASEAN region and they are going to shape policy in their own countries and in the surrounding region in the times…... [read more]

Private enterprises should continuously reform and increase competitiveness to contribute 50-60 percent of the national gross domestic product GDP), Prime Minister Nguyen Xuan Phuc said while addressing the second Vietnam Private Sector Forum held in Hanoi on July 31. At the second Vietnam Private Sector Forum He reiterated the target of building a facilitating Government which accompanies businesses, and protects all legitimate rights and interests of investors, in accordance with principles of the World Trade Organisation, bilateral agreements and the Government’s commitments. The PM suggested focusing on the fields of global demand, such as agriculture, food, consumer products, and tourism instead of just concentrating on serving domestic companies as suppliers or subcontractors with low added value. It is necessary to expand international cooperation in trade, technological transfer, production and sales of products to the overseas markets, he recommended.  The Government pledges to create a transparent, safe and friendly business environment as well as create all favourable conditions for businesses, especially private and small-and medium-sized ones and startups to develop, he affirmed. He asked ministries and relevant departments to hold periodical dialogues with businesses to promptly remove their bottlenecks. The PM directed localities to prepare all necessary conditions such as land and particular policies to enable investors to do long-term business. He hoped private enterprises will embrace links and anticipate risks and difficulties to promote innovation and actively engage in international integration. The second Vietnam Private Sector Forum was organised by the Vietnam Young Entrepreneurs' Association and the Mekong Business Initiative.…... [read more]

At the second Vietnam Private Sector Forum (Photo: VNA) Hanoi (VNA) – Private enterprises should continuously reform and increase competitiveness to contribute 50-60 percent of the national gross domestic product GDP), Prime Minister Nguyen Xuan Phuc said while addressing the second Vietnam Private Sector Forum held in Hanoi on July 31. He reiterated the target of building a facilitating Government which accompanies businesses, and protects all legitimate rights and interests of investors, in accordance with principles of the World Trade Organisation, bilateral agreements and the Government’s commitments. The PM suggested focusing on the fields of global demand, such as agriculture, food, consumer products, and tourism instead of just concentrating on serving domestic companies as suppliers or subcontractors with low added value. It is necessary to expand international cooperation in trade, technological transfer, production and sales of products to the overseas markets, he recommended.   [Private sector vital to fuel economy: PM] The Government pledges to create a transparent, safe and friendly business environment as well as create all favourable conditions for businesses, especially private and small-and medium-sized ones and startups to develop, he affirmed. He asked ministries and relevant departments to hold periodical dialogues with businesses to promptly remove their bottlenecks. The PM directed localities to prepare all necessary conditions such as land and particular policies to enable investors to do long-term business. He hoped private enterprises will embrace links and anticipate risks and difficulties to promote innovation and actively engage …... [read more]

Vietnam's central city of Da Nang has been chosen to host the first World Performing Arts Festival in 2018. The decision was made by the International Theatre Institute (ITI) at its 35th World Congress held recently in Spain. The festival will help raise the position of Vietnam’s performing arts. A 'tuong' (traditional opera) performance by artists from Nguyen Hien Dinh Tuong Theatre in Da Nang city  At the congress, Vietnamese director Le Quy Duong was elected to the ITI Executive Council and Vice President of the International Festival Forum’s Executive Board. Vietnam possesses a diverse repertoire of traditional cultural stage performing arts many of which have been recognised as treasured cultural heritages of mankind, including Nha Nhac (Hue royal court music), Ca Tru (ceremonial singing), Xoan (Spring) singing, water puppetry, and Don Ca Tai Tu (Southern amateur folk music). However, the country’s performing arts sector is facing numerous questions in regards to further developing traditional art forms in today’s context, such as how to blend traditional stage features with creativity in order to produce more stage works which can be performed on the world stage? How to enhance the qualification of Vietnam’s stage artists so that they are qualified to attend international stage projects? In this context, the ITI and the International Festival Forum have proposed many practical action plans in the 2017-2020 period which increase the presence of people in stage activities and international stage festivals, and encourage stage artists to become bridges linking countries worldwide. The first World…... [read more]

He reiterated the target of building a facilitating government which accompanies businesses and protects all legitimate rights and interests of investors, in accordance with principles of the World Trade Organization, bilateral agreements and the government’s commitments. The PM suggested focusing on the fields of global demand, such as agriculture, food, consumer products, and tourism instead of just concentrating on serving domestic companies as suppliers or subcontractors with low added value. PM Nguyen Xuan Phuc starts the forum. Photo: vneconomy.vn  It is necessary to expand international cooperation in trade, technological transfer, production and sales of products to the overseas markets, he recommended. The government pledges to create a transparent, safe and friendly business environment as well as create all favorable conditions for businesses, especially private and small- and medium-sized ones and startups to develop, he affirmed. He asked ministries and relevant departments to hold periodical dialogues with businesses to promptly remove their bottlenecks. The PM directed localities to prepare all necessary conditions such as land and particular policies to enable investors to do long-term business. He hoped private enterprises will embrace links and anticipate risks and difficulties to promote innovation and actively engage in international integration. The second Vietnam Private Sector Forum was organized by the Vietnam Young Entrepreneurs' Association and the Mekong Business Initiative. A survey launched before the forum opened indicates that 65 percent of businesses questioned expressed their hope for a government of action. The…... [read more]

NDO/VNA – Private enterprises should continuously reform and increase their competitiveness in order to contribute 50%-60% of the national gross domestic product GDP), Prime Minister Nguyen Xuan Phuc said while addressing the second Vietnam Private Sector Forum, held in Hanoi on July 31. He reiterated the target of building a facilitating Government which accompanies businesses and protects all the legitimate rights and interests of investors, in accordance with the principles of the World Trade Organisation, bilateral agreements and the Government’s commitments. The PM suggested focusing on the fields of global demand, such as agriculture, food, consumer products and tourism instead of concentrating solely on serving domestic companies as suppliers or subcontractors with low added value. It is necessary to expand international cooperation in trade, technological transfer, production and sales of products to overseas markets, he recommended. The Government pledges to create a transparent, safe and friendly business environment, as well as creating all favourable conditions for businesses to develop, especially private and small and medium-sized enterprises and startups, he affirmed. He asked the ministries and relevant departments to hold periodical dialogues with businesses to promptly remove any bottlenecks. The PM directed localities to prepare all the necessary conditions such as land and particular policies to enable investors to conduct long-term business. He hoped that private enterprises will embrace the links and anticipate any risks or difficulties to promote innovation and actively engage in international integration. The second Vietnam Private Sector Forum was organised…... [read more]

Gen. Vinh, who is a member of the Party Central Committee, permanent member of the Central Military Commission and Deputy Minister of National Defense, made that commend while chairing a conference to review the service implementation in the first six months of this year, held on July 27 at the headquarters of the Ministry of National Defense (MND). The conference assessed that despites complicated developments and increasing unstable situations, tense disputes and conflicts in the region and the world, terrorism- a threat to the world’s security, and globally non-traditional security challenges, the service has been carried out actively, proactively with practical outcomes.  During the conference  Among achievements, bilateral defense ties between Vietnam and other countries have been developing intensively, actively contributing to enhancing trust and maintaining friendship with Vietnam’s partners and to firmly defending national security and territorial integrity. Besides, bilateral defense cooperation have concentrated on training and improving professionalism of personnel engaged in United National peacekeeping operations, overcoming war consequences, humanitarian aid and disaster relief, military technical cooperation, maritime security and defense ties and more. Attentively, due attention has been paid to the defense ties with countries with shared borders and border external affairs are defined as part of the missions of safeguarding the borderline, territorial sovereignty and of strengthening friendship with neighboring countries. Defense external service has well handled the relationship with powerful countries on the basis of mutual benefits, creating strategic balance status and contributing to strengthening the…... [read more]

State budget revenues falling short of the half-way mark in the first six months of the year is a normal feature of the domestic economy and does not preclude meeting the annual target, Finance Minister Dinh Tien Dung tells Vietnam News. Finance Minister Dinh Tien Dung Q: In the first half this year, the total State budget collection met just 46.5 percent of the annual target.  How do you assess this result? Does this make the target set by the National Assembly (NA) for 2017 difficult to reach? A: This has to be put in perspective. Budget revenues for the first six  months present an increase of nearly 13 percent over the same period in 2016, even though it fulfills only 46.5 percent of the annual target. Domestic collection rose 12.4 percent year-on-year, or 45.5 percent of the annual plan. If we take out land use taxes, income from lottery sales, revenues from selling the State’s stake in enterprises, dividend revenues and profits after tax, domestic revenues rose by more than 10.5 percent, which is basically in line with the economic growth rate of 5.73 percent as well as the inflation rate of 4.15 percent in the first six months. A majority of the localities, 54 of 63, have done well in budget collection, including Hanoi, HCM City, Quang Ninh, Hai Phong and Quang Ngai. We should also keep in mind that budget revenues in the first six months of the year usually falls short of 50 percent of the…... [read more]

In January, 1995, Vietnam applied for its entry to the World Trade Organisation (WTO) after which the organisation set up a working board on Vietnam, that included members from 38 nations and territories around the world. After 10 years of negotiations, the working board has so far voiced its support for Vietnam’s bid to enter the WTO. However, integrating into the WTO will provide many opportunities while posing a lot of difficulties and challenges to Vietnam that will require full efforts to overcome. The-148 member WTO is the world’s largest trade body, accounting for 85 percent of total global commodities and around 90 percent of total global trade and service. National weaknesses Vietnam is considered a country with an almost complete legal system prior to WTO membership. However, the system is unspecific, unsynchronized and restricted by principled regulations, and thus has a large impact on the implementation process. Towards implementing global commitments, in the initial period, State budget collection has been sharply reduced while the State had to handle payment balance deficits, provide employment, improve labour standards and boost business reforms. These activities require huge capital resources, high technical standards and significant human capacity. Most Vietnamese enterprises operate on a small scale with little capital and low labour productivity. In addition, low technological levels are considered the largest barriers to increase businesses’ competitive capacity. Domestic enterprises have not yet seized good opportunities to gain access to markets and are weak in settling international trade disputes. When Vietnam joins the WTO,…... [read more]

Preferences for 130 industrial parks to be abolishedIn the eyes of US negotiators, Vietnam has provided quite a lot of subsidies for enterprises, particularly export subsidies through incentive policies to attract investment to industrial parks (IPs) and export processing zones (EPZs) Immediately after Vietnam officially announces its entry to the WTO, the country will have to abolish many kinds of subsidies such as export bonuses, preferential interest rate policies, debt clearance and a series of incentive policies to call for foreign investment in industrial and export processing zones within five years from Vietnam’s admission to the organisation. According to the Ministry of Planning and Investment, by the end of the first quarter of 2006, Vietnam had 130 open economic zones, IPs and EPZs. In 2004, 31 provinces removed legal barriers by implementing incentive policies comprising lower business income tax and land tax rates than the common incentive tax rates set by the State in a bid to call for more investment from enterprises. The State has asked for early removal of these policies while the US has also demanded that Vietnam abolish its incentive policies and tax preferences for enterprises operating in the 130 IPs and EPZs. Economic experts said that this will pose huge challenges for businesses operating in the 130 IPs and EPZs as there will no longer be State subsidies for enterprises to help them dominate export markets and run joint-ventures with foreign partners to produce products on a large scale. Deputy head of the Foreign Investment…... [read more]




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