Criminal proceedings launched against regulation violation at PetroVietnam

VietNamNet Bridge – Viet Nam is deeply concerned about the Chinese announcement that it plans to hold a military drill in the waters off the mouth of the Gulf of Tonkin, the Foreign Ministry’s spokesperson Le Thi Thu Hang said on Thursday. Viet Nam is deeply concerned about the Chinese announcement that it plans to hold a military drill in the waters off the mouth of the Gulf of Tonkin, the Foreign Ministry’s spokesperson Le Thi Thu Hang said on Thursday. — VNA/VNS Photo  In response to reporters’ queries about China’s move, Hang asserted Viet Nam’s stance that all activities by foreign countries in waters belonging to Viet Nam’s sovereign right and jurisdiction should comply with Vietnamese legal regulations and international law, especially the 1982 United Nations Convention on the Law of the Sea. Viet Nam asks China to end and not repeat actions that complicate the situation in the East Sea, she said. Yesterday, a representative from the Vietnamese Foreign Ministry met a counterpart from the Embassy of China in Ha Noi to make clear Viet Nam’s stance on the issue, she said. In response to reporters’ queries about the shooting of a missile over Japan by the Democratic Republic of Korea (DPRK) on Tuesday, Hang said the shooting is a serious violation of United Nations Security Council resolutions and increases tensions in the region. “Viet Nam is deeply concerned about the DPRK’s missile launch over Japan,” Hằng said. “Viet Nam consistently supports all efforts to step up dialogues…... [read more]

Talking about the issue, Commercial Councilor Dao Tran Nhan, head of Vietnam Trade Office in Washington D.C, said that three months ago, the office advised food and beverage companies to reexamine their business codes before exporting to the US to suit FDA’s regulations. According to the recommendation, since 2017 FDA has changed verification method to grant new business codes and stipulated that after being chosen, representatives of Vietnamese production establishments in the US must send the administration a letter or document confirming that they agree to be the representatives. If FDA does not receive the letter or the document, representatives’ registration to the administration will be considered to be incomplete and business codes will be destroyed. Previously, the Vietnam Trade Office in the US continued advising Vietnamese businesses to re-register production establishments and representatives in the US with FDA in September 2012, September 2014 and August 2016 in accordance with the FDA Food Safety Modernization Act. Mr. Dao Tran Nhan affirmed that the act is not new as former US President Obama signed a decree to issue it on January 4, 2011. Right after the US issued the act, the office has sent all relevant regulations and reports to Vietnamese authorized agencies including the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development. In addition, the office proposed the later ministry to carefully study the act to guide Vietnamese firms, invite experts from the US to attend forums and training courses about new regulations of the…... [read more]

With public funding only able to meet a fifth of the VND1.8 quadrillion (US$80 billion) required for development works in HCM City’s in 2016 – 20, authorities are striving to involve the private sector. — Photo chinhphu.vn With public funding only able to meet a fifth of the VND1.8 quadrillion (US$80 billion) required for development works in HCM City’s in 2016 – 20, authorities are striving to involve the private sector. According to Su Ngoc Anh, director of the city Department of Planning and Investment, many new measures and policies have been put in place to mobilise private resources, but challenges remain. He explained that investors must bring in 15-20 per cent of the funding required for a project, with loans from banks and other credit organisations making up the rest. Nguyen Hoang Minh, deputy director of the State Bank of Viet Nam, HCM City branch, said bank funding for socio-economic projects, especially in infrastructure, is linked to their effectiveness. Therefore, investors and relevant authorities must ensure the effectiveness of projects when they are completed, he said. Pham Manh Thang, deputy director general of Vietcombank, said the bank has provided loans of over VND100 trillion for 61 projects, including 23 in the education sector, 16 for transport infrastructure (roads, bridges), nine for urban development, and seven for hospitals. In the context of inadequate public funding, making use of public-private-partnerships (PPP) is vital, he said, but admitted the PPP form faces legal…... [read more]

The Tan Vu - Lach Huyen Highway in the northern port city of Hai Phong. The project has investment of almost VND11.85 trillion (US$525.3 million), of which the majority was funded with Japanese official development assistance. — VNA/VNS Photo Huy Hung A delegation of lawmakers will supervise the implementation of laws and policies on the management and use of foreign loans. The delegation was set up under a resolution issued by the National Assembly Standing Committee. It will evaluate the issuance of legal documents and the implementation of policies and regulations relevant to the management and use of foreign loans. Nguyen Duc Hai, a member of the NA Standing Committee and chairman of the NA’s Financial and Budget Committee, is leading the delegation. The lawmakers will review results, shortcomings and difficulties as well as defining the responsibilities of agencies, organisations and individuals. After that, they will issue measures to organise the implementation on laws and policies on the management and use of foreign loans in the future and relevant policies and regulations as well. Regarding the subject of supervision, the resolution states that the Government and the Prime Minister will have to report the issuance of legal documents, the implementation of policies and regulations, and the management and use of foreign loans. Meanwhile, ministries, sectors, agencies, organisations and individuals, who are relevant to this area, are also on the list. In localities, people’s councils, the people’s committees and major…... [read more]

The Japan-Vietnam Medical Instrument JSC (JVC) targets VND630 billion (US$28 million) in net revenue for 2017, an increase of 26 per cent from last year’s number, the management board said at the company’s annual shareholder meeting on Thursday.— Photo baodautu.vn The Japan-Vietnam Medical Instrument JSC (JVC) targets VND630 billion (US$28 million) in net revenue for 2017, an increase of 26 per cent from last year’s number, the management board said at the company’s annual shareholder meeting on Thursday. JVC also aims to earn VND19 billion in post-tax profit, which would be a huge improvement compared to a loss of VND31.7 billion made in 2016. Last year, the company managed to reduce its losses to VND31.7 billion from VND1.36 trillion in 2015 and cut its bad debt provision to VND23 billion from VND1.3 trillion in 2015. However, the management board said that JVC will not make dividend payout for 2017 if the company still records accumulated loss by the end of the year. In 2016, JVC managed to reclaim the market shares in 14 southern provinces and became the authorised dealer of the Japan-based technology conglomerate Hitachi. It also plans to participate in new hospital projects, make stronger investment in private healthcare sector and reduce its inventory to help improve its performance. To achieve such results, the management board said that JVC could be divided into two units, with one keeping all “bad” assets and the other one keeping “good” assets. …... [read more]

The Ministry of Agriculture and Rural Development (MARD) should coordinate with relevant ministries to promulgate a decree on organic agriculture.— Photo zing.vn The Ministry of Agriculture and Rural Development (MARD) should coordinate with relevant ministries to promulgate a decree on organic agriculture. This was said by Nguyen Xuan Hong, former director of the ministry’s Plant Protection Department, at a conference on organic farming held in Ha Noi on Thursday. The event is designed to get opinions from experts, producers and enterprises to finalise a decree on organic farming before submitting it to ministries and departments for comments. Then, it will be sent to the Government for approval. Once issued, the decree will contribute to developing Viet Nam’s organic agriculture sector, meeting the needs of domestic and international consumers, increasing income for farmers and businesses, and creating biodiversity and sustainable landscape. At the conference, delegates revised the TCVN 11041: 2015 national standard for the producing, processing, labeling and marketing of organic food. Participants spoke about the strict management of production, business and the certification of organic products. Experts encouraged enterprises to invest in producing and trading organic products, investing in the production of organic fertilisers, biological fertilisers and biological plant protection products. Hong said it was necessary to invest in scientific and technical research, create a favourable business environment for organic enterprises, and support cooperative groups who wanted to take up organic agriculture. MARD deputy minister Tran Thanh Nam said…... [read more]

With public funding only able to meet a fifth of the VNĐ1.8 quadrillion (US$80 billion) required for development works in HCM City’s in 2016 – 20, authorities are striving to involve the private sector. HCM City needs to mobilise more investments for infrastructure development projects. - VNS File Photo. According to Sử Ngọc Anh, director of the city Department of Planning and Investment, many new measures and policies have been put in place to mobilise private resources, but challenges remain. He explained that investors must bring in 15-20 per cent of the funding required for a project, with loans from banks and other credit organisations making up the rest. Nguyễn Hoàng Minh, deputy director of the State Bank of Việt Nam, HCM City branch, said bank funding for socio-economic projects, especially in infrastructure, is linked to their effectiveness. Therefore, investors and relevant authorities must ensure the effectiveness of projects when they are completed, he said. Phạm Mạnh Thắng, deputy director general of Vietcombank, said the bank has provided loans of over VNĐ100 trillion for 61 projects, including 23 in the education sector, 16 for transport infrastructure (roads, bridges), nine for urban development, and seven for hospitals. In the context of inadequate public funding, making use of public-private-partnerships (PPP) is vital, he said, but admitted the PPP form faces legal hurdles. Thắng said another problem is that most local banks are small,…... [read more]

Deputy Foreign Minister Ha Kim Ngoc (Source: VNA)   Seoul (VNA) – Deputy Foreign Minister Ha Kim Ngoc and a Vietnamese delegation attended the eighth Foreign Ministerial Meeting (FMM-8) of the Forum for East Asia – Latin America Cooperation (FEALAC), which took place in Busan city, the Republic of Korea (RoK) on August 31. The event, themed “One Vision, New Action”, attracted the participation of 36 member countries from the two regions. Speaking at the event, Ngoc said Vietnam supports measures and action plans to strengthen regulations and improve the operation efficiency of FEALAC. In the near future, the forum should prioritise strengthening internal connectivity via raising responsibility of member states, expanding cooperation with regional and global financial – banking organisations, increasing the scale and number of regional and inter-regional-scale projects, especially those regarding sustainable development, food and energy security, climate change response and water resources management, he said. The participants adopted the Busan Declaration which described the forum as the only inter-governmental cooperation mechanism connecting East Asia and Latin America together which account for 38 percent of the global gross domestic product and one third of the global trade. Participants agreed to establish a key group comprising six coordinating countries from the two regions and the FEALAC Trust Fund which will be run by the United Nations Economic and Social Commission for Asia (ESCAP) and the Pacific and the Economic Commission for Latin America and the Caribbean (ECLAC).…... [read more]

The event was organised by the Ministry of Agriculture and Rural Development and the European Trade Policy and Investment Support Project (EU-MUTRAP). Participants discussed the revision and modification of the set of standards TCVN 11041:2005 guiding the manufacturing, processing, labeling and marketing of organic food products.  They also mentioned the strict management of manufacturing and business activities and certification of organic farm produce to ensure food safety, quality and origin of products. Incentives for businesses to invest in producing organic fertilisers, bio-fertilisers, microorganisms, and biological botanical products were another issue on the agenda, along with the development of brands and market for Vietnamese organic products. Former head of the Plant Protection Department under the Ministry of Agriculture and Rural Development Nghiem Xuan Hong said international treaties do not have particular regulations for organic products. Therefore, it is necessary to build a new set of high standards for Vietnamese organic products. He suggested investing in technical scientific research and supporting cooperative groups and cooperatives to switch to organic production.  Dao The Anh, deputy director of the Institute for Food Plants, said in the near future it is essential to improve policies and legal regulations to boost the development of organic farming. He recommended promulgating and implementing policies to encourage organisations and individuals to join organic agricultural production such as exempting or reducing income taxes and providing incentives in land lease. Legal regulations on the management of production, certification and labelling must ensure…... [read more]

Director of the provincial Department of Industry and Trade (DoIT) Vo Van Chieu briefed the delegates on the province’s socio-economic development, its real situation and potentials for biomass power development with the availability of sugarcane bagasse, rice husk, straw and wood. In 2016, the Soc Trang sugar plant produced 130,000 tonnes of sugarcane bagasse which was enough to supply for a local thermo power plant. The province’s rice output in 2016 reached 2.4 million tonnes, equivalent to 312,000 tonnes of husk per year. With 140,000 hectares of rice, each crop generates around 280,000 tonnes of straw. Soc Trang has nearly 11,360 hectares of forests, mainly cajuput, cypress, mangrove, nipa, in the districts of Long Phu, My Tu and Cu Lao Dung, and Vinh Chau town.   Around 9,436 tonnes of wood are expected to be produced by natural forests, 8,150 tonnes from production forests, 3,786 tonnes of scattered planted forests, 17,000 tonnes from long-term industrial crops, and 33,000 tonnes of waste wood. The DoIT proposed to build a 20 MW husk-to-energy plants in Nga Nam town and another in Soc Trang city with a capacity of 10MW. Straw-fueled power plants with capacity ranging from 5-10 MW are planned in Nga Nam town and Long Phu, My Tu and Tran De districts, while wood-fired energy plants will be built in Long Phu and My Tu districts, with capacity of between 5-10 MW. Local authorities asked the General Directorate of Energy and…... [read more]




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