Showing posts with label vietnambreakingnews. Show all posts
Showing posts with label vietnambreakingnews. Show all posts

24 July 2017

NA Vice Chairman applauds VN-Japan audit cooperation

Chiang Mai Province will host the 50th Asian Organization of Supreme Audit Institutions' (ASOSAI) Governing Board Meeting and an international seminar on the occasion of the 100th anniversary of the Office of the Auditor General. The Auditor General Pisit Leelavachiropas on July 23 discussed with the Vice Governor of Chiang Mai Nawin Sinthusa-ard and head of the related agencies the preparations to host the 50th ASOSAI Governing Board Meeting and the international seminar on the occasion of the Office of the Auditor General’s (OAG) 100th anniversary in Chiang Mai. The meeting and seminar will take place during February 11-19, 2016 with participants from ASOSAI’s 42 Asian member countries. The event aims to strengthen cooperation of the OAG with domestic and international agencies. The OAG's staff will be promoted to enter an exchange programme to learn on organizational moralities, that will enhance officials' readiness to operate on the international stage. The Auditor General has said that Chiang Mai Province has been selected to host ASOSAI Governing Board Meeting, due to its beautiful natural scenery and traditions, values that are considered a great accommodate to this meeting.... [read more]

VGP – Viet Nam will host the 14th Assembly of the Asian Organisation of Supreme Audit Institutions (ASOSAI) in 2018, become a member of the ASOSAI Governing Board in the 2015-18 tenure, and chair the organisation from 2018-2021. The information was announced at the 13th Assembly of the ASOSAI held in Kuala Lumpur, Malaysia, on February 10, with the participation of 180 delegates from audit institutions across 40 countries. Delegates discussed several important reports at the event, including the 2012-2014 ASOSAI financial report and the approved 2016-2018 budgets. They also agreed on measures to tighten cooperation between the ASOSAI and the European Organisation of Supreme Audit Institutions (EUROSAI). The ASOSAI was founded in 1979 as a regional group of the International Organisation of Supreme Audit Courts. It holds meetings every three years to exchange views on careful and responsible monitoring of public fund spending. Deputy Auditor General of the State Audit Office of Vietnam Doan Xuan Tien said that Viet Nam was an active participant in the 13th Assembly. The delegation spoke at the 6th symposium on boosting technological application to raise audit efficiency. The delegation also attended the Supreme Audit Institutions Summit of ASEAN member states (ASEANSAI). The State Audit of Viet Nam, as Head of the Strategic Planning Committee of ASEANSAI, gave a report on the monitoring and evaluation systems of the ASEANSAI. The Supreme Audit Institutions of Viet Nam, Laos, and Cambodia also discussed and determined amendments to their agreement on cooperation and the sharing of information…... [read more]

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A delegation from the State Audit Office of Vietnam (SAV) led by Deputy Chief State Auditor Cao Tan Khong is on a working visit to Thailand from September 21-25 to strengthen bilateral ties. State Audit focuses on State budget for 2011 Khong held a working session with Deputy Head of the Office of the Auditor General of Thailand (OAG) Pisit Leelavachirropas on September 22, sharing information and experience in auditing public debts, making auditing plans, defining middle and long-term auditing targets and discussing opportunities for future cooperation. The two sides proposed boosting cooperation through the exchange of delegations, sending officials and experts to seminars and discussions held by each side, and actively supporting each other in the framework of the Asian Organisation of Supreme Audit Institutions (ASOSAI) and the ASEAN Supreme Audit Institution (ASEAN SAI). On September 23, the SAV delegation had a working session with Thailand’s Audit Region 8 in Chiang Mai. After the Thailand visit, the Vietnamese auditors will pay a working visit to Myanmar from September 26-29. Since it joined ASOSAI in 1997, the SAV has actively participated in the organisation’s activities, including the successful organisation of the 42nd session of the ASOSAI Governing Board in August, 2010. At present, the SAV is a member of the ASOSAI Governing Board in the 2009-2012 period. The SAV is one of the four founders of ASEAN SAI, which is expected to be established at a meeting on the Indonesian island of Bali this November.... [read more]

VGP - The 42nd meeting of the Governing Board of the Asian Organization of Supreme Audit Institutions (ASOSAI) opened on August 4 in Hà Nội with the participation of leaders from 11 ASOSAI members. The event will last for two days on August 4-5. At the opening session, delegates discussed issues relating to the 41st meeting, emerging issues, a financial report of 2009, budget, and training programs. Participants also took the occasion to talk about a draft strategic plan of ASOSAI for the period of 2011-2015 and other reports on the special magazine of ASOSAI, audit activities of the International Organization of Supreme Audit Institutions (INTOSAI), IT audit and coordination with donors. In his opening speech, Vietnamese General Auditor Vương Đình Huệ underlined that this was the first time Việt Nam has hosted such event which provided a good opportunity for the State Audit of Việt Nam to make more positive and substantial contribution to the ASOSAI community. Việt Nam will do her utmost to make the meeting a success, said Mr. Huệ. On August 5, the delegates are expected to continue their discussions on some reports on environment audit, preparation for the 12th ASOSAI Congress and cooperation between ASOSAI and the European Organization of Supreme Audit Institutions (EUROSAI)./. By Khánh Phương... [read more]

VGP - State Audit of Việt Nam (SAV)'s Chief Auditor Vương Đình Huệ and Comptroller and Auditor General of India Vinod Rai signed the cooperative agreement on August 3 in Hà Nội. It is one of the activities on the sidelines of the 42nd meeting of the Asian Organization of Supreme Audit Institutions (ASOSAI) Governing Board, which will be held from August 4-5 in Việt Nam. The agreement marks the long-term and close cooperation between the two countries' auditing agencies in the future. The two nations also committed to enforcing their own regulations on studying and exchanging experience of methods, standards, rules and procedures in State audit. The Vietnamese Chief Auditor also received leaders of audit delegations of the Republic of Korea, Turkey, India, Pakistan and Japan on the same day. He hoped that SAV will closely cooperate with other ASOSAI members in training, information technology audit and environmental audit.... [read more]

Vietnamese, Indian auditors join hands Vietnamese General Auditor Vuong Dinh Hue and Comptroller and Auditor General of India Vinod Rai yesterday signed a co-operation agreement between the two supreme audit institutions. This took place on the sidelines of the 42th annual meeting of the ASOSAI governing board, taking place in Ha Noi today and tomorrow. The signing confirms the tight and long term co-operation of the two supreme audit institutions in the future in the fields of training, professional standards, practices and processes. The two supreme audit institutions will also exchange high level delegations and research teams. Yesterday also on the sidelines of the ASOSAI Governing Board 42th meeting, General Auditor Vuong Dinh Hue held separate meetings with the heads of audit delegations from South Korea, Turkey, India, Pakistan and hosted the Japanese audit delegation. — VNS HA NOI — The 42th meeting of the Governing Board of the Asian Organisation of Supreme Audit Institutions, or ASOSAI, will take place in Ha Noi from today. The two-day meeting will see the participation of 11 supreme audit institutions (SAIs) that are members of the ASOSAI governing board, including China, Japan, India and South Korea and two SAIs from Saudi Arabia and Mongolia which are members of ASOSAI's Audit Committee and a representative from the International Organisation of Supreme Audit Institutions. The 42th meeting of ASOSAI Governing Board will review the operation of the governing board and the Secretariat from the last meeting which took place in October 2009, ASOSAI's 2009 finance…... [read more]

General Auditor of Vietnam Vuong Dinh Hue and Comptroller and Auditor General of India Vinod Rai signed a cooperation agreement between the state auditing agencies of the two countries in Hanoi on August 3. This is part of activities on the sidelines of the 42 nd meeting of the Asian Organisation of Supreme Audit Institutions (ASOSAI) Governing Board to be held in Hanoi from August 4-5. Under the agreement, the two state agencies will share experiences, exchange high-ranking delegations and experts and organise joint conferences and seminars. The same day, General Auditor Vuong Dinh Hue held separate talks with leaders of delegations from the Republic of Korea , Turkey and Pakistan and received the Japanese delegation. At the meetings, Hue expressed his hope for closer cooperation in training, and audits in environment and information technology with ASOSAI members. Vietnam also wants to exchange high-ranking delegations to expand relations with other members of ASOSAI, he said./.... [read more]

For the first time, Vietnam will host the 42 nd session of the Asian Organisation of Supreme Audit Institutions (AOSAI) Governing Board in August, said a state audit official. The country's host of the important event manifests the State Audit of Vietnam (SAV)'s rising prestige in the region, SAV chief Vuong Dinh Hue said, adding that this will be a chance for the country to play a larger role in designing ASOSAI's strategies as well as implementing measures for sustainable development set by the organisation. According to the official, the upcoming session will discuss methods of cooperation between ASOSAI and the European Organisation of Supreme Audit Institutions (EROSAI) as well as essential issues relating to auditing activities in the region. Also, the board members will share experiences and seek ways to boost cooperation in training of human resources within the organisation and with other countries. Established in 1979, ASOSAI boasts 45 members. Vietnam joined the organisation in January, 1997 and was elected to ASOSAI Governing Board at its 11 th Assembly in Pakistan in October, 2009./.... [read more]

The US Department of State on November 13 removed Vietnam from the list of “Countries of Particular Concern “(CPC) in recognition of the country’s constant efforts to improve its religious affairs. John Hanford, ambassador-at-large for religious freedom of the US Department of State said, “Vietnam has made significant improvements toward advancing religious freedom.” This is a recognition of the stark reality in Vietnam which has deliberately been denied for a long time by some hostile forces in the US. Re-visiting Vietnam recently, former US Ambassador to Vietnam Pete Peterson affirmed that all religions are recognised in Vietnam and that religious people are free to go to churches and pagodas to do religious activities. During a recent visit to the Central Highlands provinces, Prof. Bobby Gene Jv, member of the Institute for Global Engagement (IGE)said religious activities in the Central Highlands region in general and in Gia Lai in particular are conducted in a democratic manner. All local people are equally treated and are entitled to decide whether or not to follow a certain religion. They really enjoy living a free and happy life in great unity and seeing churches re-built or refurbished beautifully. US Ambassador to Vietnam Michael W.Marine noted that the US Government has highly praised religious freedom in Vietnam. There is no denying that apart from making great strides in socio-economic development, the Vietnamese Party and State has spared no effort to create favourable conditions for people to exercise freedom of belief and religion. Regrettably, in recent times,…... [read more]

Mandarin Garden 2 flats to be handed over to buyers at the end of this year

The US Department of State on November 13 removed Vietnam from the list of “Countries of Particular Concern “(CPC) in recognition of the country’s constant efforts to improve its religious affairs. John Hanford, ambassador-at-large for religious freedom of the US Department of State said, “Vietnam has made significant improvements toward advancing religious freedom.” This is a recognition of the stark reality in Vietnam which has deliberately been denied for a long time by some hostile forces in the US. Re-visiting Vietnam recently, former US Ambassador to Vietnam Pete Peterson affirmed that all religions are recognised in Vietnam and that religious people are free to go to churches and pagodas to do religious activities. During a recent visit to the Central Highlands provinces, Prof. Bobby Gene Jv, member of the Institute for Global Engagement (IGE)said religious activities in the Central Highlands region in general and in Gia Lai in particular are conducted in a democratic manner. All local people are equally treated and are entitled to decide whether or not to follow a certain religion. They really enjoy living a free and happy life in great unity and seeing churches re-built or refurbished beautifully. US Ambassador to Vietnam Michael W.Marine noted that the US Government has highly praised religious freedom in Vietnam. There is no denying that apart from making great strides in socio-economic development, the Vietnamese Party and State has spared no effort to create favourable conditions for people to exercise freedom of belief and religion. Regrettably, in recent times,…... [read more]

In a recent interview granted to Vietnam News Agency, Deputy Prime Minister and Foreign Minister Pham Gia Khiem said the EWEC is one of the five economic corridors in the Greater Sub-Mekong Region (GMS), which was approved at the eighth GMS Ministerial Meeting in October 1998. With funding from the Asian Development Bank and the Japanese Government, major transport infrastructure facilities lying along the corridor have been upgraded, including Tien Sa and Da Nang ports, Hai Van tunnel and National Highway No 9 inside Vietnam. Notably, the second international bridge spanning the Mekong River was open to traffic in late 2006, linking Thailand's seven northeastern provinces, Laos' Savannakhet province and Vietnam's three central provinces. In addition to developing transport infrastructure facilities, relevant countries have coordinated closely in simplifying procedures, facilitating cross-border travel, enhancing cooperation in tourism and human resource development, and attracting investment for the sake of steady economic development and sustainable poverty reduction. The western part of the corridor, which runs from Thailand to Myanmar, will be under construction soon to turn the EWEC into an inland corridor connecting the Pacific and Indian Oceans. Once completed, the EWEC project will help millions of people living in the four countries escape poverty, narrow the development gap and strengthen linkages between the EWEC and other regions in Southeast Asia and the world. The project will enable the four countries to better tap their natural resources and potential, and expand their markets. It will also help them expand external economic ties, promote…... [read more]

Mr Trong told the Vietnam News Agency prior to his departure that various meetings, exchanges and trade and investment promotion activities will be held between a number of Vietnamese and European businesses during the visits. He said that Vietnam and the four European countries have specific potential and strengths that can complement and support each other. The European nations have strengths in the high-technology industries, such as shipbuilding, oil and gas, mechanical engineering, chemicals, pharmaceuticals, agriculture, biotechnology, education and health care. Meanwhile, with a population of more than 80 million and a dynamic economy, Vietnam is a big market and an attractive destination for European investors.During the tour, the Vietnamese legislative body and those of the four European countries will discuss measures to increase exchanges and cooperation and also share experiences in devising and applying legislation. Many agreements to expand cooperation in legislative affairs will be signed between the concerned nations. According to Mr Trong, his European tour is to further implement the Party and the State’s foreign policy of independence, self-reliance and openness as well as diversification and multilateralisation of international relations for the sake of peace, cooperation and development in the region and the rest of the world. The tour is a good chance for all parties to discuss measures to boost ties, particularly in legislation, at a time when Vietnam National Assembly was recently elected to the management board of the Inter-Parliamentary Union that boasts more than 150 members, including Hungary, Romania, Bulgaria and France.Vietnam established diplomatic…... [read more]

Senior Buddhist monk Thich Huyen Quang was admitted to Binh Dinh General Hospital on May 27 due to his breathing difficulties and heart failure. He had received medical treatment and good care from the doctors, his assistants and followers until he passed away on July 5 at the age of 90. While he was in hospital, representatives from the Government Committee for Religious Affairs, the Vietnam Buddhist Sangha, the Executive Councils of the Vietnam Buddhist Sangha chapters in Binh Dinh, Thua Thien-Hue and Khanh Hoa provinces and other localities visited to inquire into his health and they all wished him a quick recovery. However, several elements who claimed to represent the Paris-based International Buddhist Information Bureau made slanderous charges against the local authorities and the Vietnam Buddhist Sangha, saying that the administration is to blame for no religious freedom in Vietnam. In fact, they have recently worked in cahoots with other reactionaries wearing monk’s robes to besmirch and sabotage the Vietnamese State. This time, on the pretext of Thich Huyen Quang’s death, they tried to revitalise an outlawed organisation called the Unified Buddhist Church of Vietnam. The Vietnam News Agency (VNA) on July 5 quoted the Most Venerable Thich Thien Tanh, deputy head of the Executive Board of the Ho Chi Minh City Buddhist Sangha as saying “while the local authorities, Buddhist dignitaries, monks and nuns were worried about Thich Huyen Quang’s health and wished for his quick recovery, Thich Quang Do and some elements from the International Buddhist Information…... [read more]

Mr Khiem, who is also Minister of Foreign Affairs, made the remark in a recent interview granted to the Vietnam News Agency. He said that through meetings and high-level contacts, APEC has become an important channel for Vietnam to boost its ties with other regional economies and that cooperation within the 21-member forum has also helped enhance the nation’s image and position in the region. “Vietnam’s admission to APEC marked an important milestone during the course of implementation of the Party’s and the State’s foreign policy of openness, multilateralisation, diversification and integration into the world economy,” Mr Khiem said. According to the Deputy PM, since Vietnam became APEC’s official member in November 1998, the nation has made marked contributions to the forum. Vietnam has fully and responsibly participated in APEC cooperation programmes and actively joined other member economies in new areas of cooperation, such as human security, health care, education and tourism alongside traditional trade activities, he added. By sharing experiences and information, particularly with developing member economies, Vietnam has efficiently contributed to a number of areas of cooperation between APEC members, including fisheries, agriculture and the prevention of bird flu and other epidemics, the deputy PM said. The Southeast Asian nation has also participated in APEC committees for trade, investment and economics as well as its working groups regarding business travel, small- and medium-sized enterprises, health care, fight against terrorism, emergency preparedness and response. “One of Vietnam’s prominent and practical contributions to the forum was its successful organisation of…... [read more]

VOV in the front line of emulation A week after its establishment, two VOV news bulletins in English and French appeared in the first transmission of the Vietnam News Agency. In the following years VOV joined efforts with the Vietnamese people in the protracted resistance wars against French colonialists and US imperialists, as well as with its affiliates such as the Vocie of Southern Resistance, Saigon-Cho Lon, Interregion Five, Liberation CP90, Northwest-Northern Vietnam-Cao Bac Lang and Tram Cave broadcasting stations, Bach Mai, Me Tri and CK2 transmitting stations and others in the formation of a united voice of Vietnam. In the resistance war against French colonialists, VOV had to relocate its station for 14 times to ensure its broadcasts uninterrupted. After the US air blitz over Hanoi on the nights of Dec. 21 and 22, 1972, the technical facilities of VOV were badly damaged, but the Voice of Vietnam continued echoing over the country and some parts of the world. Hundreds of VOV’s reporters, singers and artists engaged in the two protracted resistance war. Dozens of them laid down their lives on the battlefield. The current archives of VOV still keeps 30,000 broadcasting hours or 50,000 programmes on tapes and discs which are of historical value. They have been digitalized for long-term maintenance and use such as real sound from the old battles, plants, construction sites, immortal songs, particularly Ho Chi Minh’s voice reading the Declaration of Independence and appealing for national resistance, and Saigon puppet generals’ statement of surrender.…... [read more]

Tran Duy Hai, Deputy Director of the National Boundary Commission (NBC) made the affirmation in an interview granted to the Vietnam News Agency after China illegally brought its oil rig into Vietnam’s waters, brazenly violating Vietnam’s sovereign right and jurisdiction in the East Sea. He affirmed that Vietnam has sufficient historical evidence to prove its sovereignty over the Hoang Sa (Paracel) and Truong Sa (Spratly) archipelagoes as well as its sovereign rights and jurisdiction over its waters in line with the 1982 United Nations Convention on the Law of the Sea (UNCLOS 1982). “In any circumstance and from any angle, China’s move of bringing the oil rig and dozens of vessels of all kinds into Vietnam’s waters is unlawful and runs counter to provisions of international law, and Vietnam strongly protests these acts,” Hai said. Asked about China’s statement at a press conference on May 8 that it would only sit down for negotiations when Vietnam withdraws ships from the area where China is attempting to position the oil rig, the official made clear that as the area is entirely in Vietnam’s sovereign right and jurisdiction, the presence of Vietnam’s law enforcement forces, which are the coast guard and the fisheries surveillance agency, at the site to exercise management measures is totally in line with international law. He stressed that the most important thing now is China must withdraw all its vessels and the oil rig from that area. In response to China’s allegation that Vietnamese ships intentionally crashed into…... [read more]

The one-day exhibition, which was organised by the Coalition for Asian-American Children and Families, is part of the Asian-Pacific American Heritage Month, introduced almost 100 photos taken by young photographers on the life, people and landscapes of countries in the Asia-Pacific. Although he was born in the US and travelled to many countries, he is impressed by Sa Pa’s beauty and people and the photos that were showcased at the exhibition were taken during his second visit to Sa Pa last April, Nguyen Bao told a New York-based Vietnam News Agency correspondent. Bao said that he would return to Vietnam to make a documentary on Sa Pa and a film on Vietnam. He hoped that the films will be completed early next year to be screened in the US and Vietnam. All photos displayed at the exhibition were auctioned to raise money for helping disadvantaged Asian American children and families in New York City.... [read more]

In a recent interview granted to a Vietnam News Agency correspondent, Chan Chong Beng, chairman of Singapore’s Association of Small & Medium Enterprises, said the successful operation of the four Vietnam-Singapore Industrial Parks (VSIP) shows Vietnam is an ideal destination for Singapore’s small and medium businesses. Chan said Prime Minister Lee will attend a ground-breaking ceremony of the fifth VSIP in Vietnam during the visit. He said Singaporean companies have plenty of opportunities to tap the Vietnamese market, especially in the areas of tourism, food processing, or garment making. He quoted a recent survey, saying HCM City is an optimal choice for Singaporean small and medium businesses to carry out their investment strategies. The executive also suggested Vietnamese businesses use Singapore as a gateway to penetrate other countries in the world.... [read more]

Enterprises from Vietnam and Cuba also gathered in a workshop on the sidelines of the event to discuss their cooperation prospects. On the occasion, Deputy Head of the Ministry of Industry and Trade’s Trade Promotion Agency Bui Thi Thanh An and Director of the Cuban Foreign Trade and Investment Promotion Centre (ProCuba) Roberto Verrier inked a Memorandum of Understanding (MoU) to boost collaboration between the two organisations. Trade between the two countries will be facilitated by their strong political relations, the two governments’ support as well as mutual understanding between their people, An told the Vietnam News Agency (VNA)’s reporter. She said it is a good time for Vietnamese firms to do business in not only Cuba but also the Latin America. The FIHAV 2015 attracted more than 1,000 enterprises from 70 countries and territories worldwide, including 24 from Vietnam.... [read more]

PM asks Ha Tinh to become major industrial centre

Seafood service firms dominate Vietfish 2014 Ngoc Hung By Ngoc Hung - The Saigon Times Daily HCMC – The number of firms providing services and equipment for the seafood sector make up 65% of 173 corporate exhibitors at the ongoing Vietnam Fisheries International Exhibition 2014 (Vietfish 2014) in HCMC. The Vietnam Association of Seafood Exporters and Producers (VASEP), the organizer of Vietfish 2014, said there are more seafood service providers than in previous years. Seafood processors and exporters are other exhibitors at the event, which opened at the Saigon Exhibition and Convention Center (SECC) in District 7 on August 6. The 16th exhibition is attended by many big local and foreign companies, including from Japan, the United States, Belgium, China and South Korea. Truong Dinh Hoe, general secretary of VASEP, said Vietfish 2014 showcases various seafood products and services as well as equipment and technology for cold storage of seafood. Pham Anh Tuan, deputy head of the Vietnam Directorate of Fisheries, said the participating companies have the opportunity to learn about latest market trends and consumers’ needs so as to turn out appropriate products. During the show that lasts until August 8, there are workshops on Vietnam’s seafood industry, production of safe and sustainable seafood in line with the Global GAP (Good Agriculture Practices) standards, the ASC (Aquaculture Stewardship Council) certification for shrimp, and technologies for the seafood sector. In a related development, the Ministry of Agriculture and Rural Development has issued Circular 23/2014/TT-BNNPTNT guiding the implementation of farming, processing…... [read more]

With the high export turnover of US$3.1, US$3.4 and US$3.2 billion in January, March and April respectively, the possibility of achieving an export turnover of US$37-38 billion this year will be within reach. Among nine key export products, many have obtained export growth exceeding average levels, such as electric wire and cable (up 45 percent), garment and textile (up 38 percent), woodwork (up 32 percent) and plastics (up 33 percent). Notably, despite facing a lawsuit for dumping on the EU market, footwear exports still rose 20 percent over the same period last year thanks to effective market solutions. Import activities also made significant progress in reducing import surplus. In the past four months, import value reached more than US$12,330 billion, an increase of only US$200 million compared to exports, meaning that import surplus was just US$200 million. This was considered a success in regulating import activities to reduce import surplus, as, by comparison, the import surplus of the first fourth months of 2003 and that of 2004 stood at US$1.3 billion and US$1.94 billion respectively. In the reviewed period, domestic enterprises fetched an export turnover of US$1.2 billion while reducing import surplus by US$1 billion over the same period last year. However, the level of import surplus among domestic businesses remained high (US$2.35 billion). Therefore, more attention should be given to boosting export activities and regulating import activities to reduce import surplus. In addition, the inflow of foreign direct investment (FDI) has sharply increased, reaching nearly US$2.3 billion or 136…... [read more]

Many believe that Vietnam’s abundant source of labour will be an advantage to compete with China in attracting foreign investors. Professor Ho Duc Hung says at a round-table discussion on Vietnam’s human resources in the post-WTO period that cheap labour should not be considered an advantage, but rather a big concern for the economy. It is true that an abundant supply of low-cost labourers is an important factor in attracting foreign investors. However, cheap labour also means low quality to fit in with the growing trend towards modern production and management. Prof Ho Duc Hung says the labour productivity of a Japanese worker is 135 times higher than a Vietnamese, 30 times higher than a Thai, 20 times higher than a Malaysian and 10 times higher than an Indonesian. It is quite wrong to consider low-cost labour or low-quality labour as an advantage as low labour productivity in an enterprise will only lead to low profits. Experts say that enterprises may save money by hiring cheap labour, but, in fact, they have to pay more for training. Training fees for labourers in Vietnam are often 15-20 times higher than in other countries. Therefore, cheap labour should not be considered a positive advantage. Some people may be concerned by the fact that the total salaries of 20 Japanese experts at Nghi Son Cement Factory in northern Thanh Hoa province are equal to the salaries of nearly 2,000 Vietnamese labourers. The imbalance is not difficult to understand, as people who can earn…... [read more]

It is not by chance that US President George W. Bush called Vietnam a young tiger in Asia when he visited Vietnam last November. A New Year has begun and it is time for us to look back on Vietnam’s major achievements in 2006 – a year of bumper harvest figuratively and literally. Generally speaking, we have sown seeds, coped with erratic weather and reaped the best crops in more than 20 years. 2006 was a successful year for Vietnam as the country was admitted to the World Trade Organisation as the 150th member, marking its full integration into the world economy. The US Congress’ approval of permanent normal trade relations with Vietnam and the country’s successful organisation of the 14th APEC Economic Leaders’ Meeting helped elevate Vietnam’s position and prestige in the international arena. For the first time, Vietnam attracted US$10.2 billion worth of foreign direct investment in 2006, a record figure since 1987. Foreign donors at the recent Consultative Group Meeting pledged US$4.45 billion in official development assistance capital for the country – another record figure for a developing country like Vietnam. The country’s export value in 2006 also hit a record high of nearly US$40 billion. Notably, both crude oil and garment exports surpassed the US$5 billion mark. Proudly, Vietnam’s industrial products and traditional handicrafts are now available in almost all regional and global markets. In 2006, the establishment of the Vietnam Coal and Mining Industry Group, the Vietnam Garment and Textile Group, the Vietnam Post and…... [read more]

The success of the August 1945 Revolution and the establishment of the Democratic Republic of Vietnam, the first people’s democratic State in Southeast Asia, symbolised Vietnam’s strength, spirit, will and wisdom. Vietnam has overcome numerous difficulties to obtain achievements in different fields and affirmed its position in the Doi Moi (Renewal) process. At the recent first meeting of the 12th National Assembly, the Government worked out strong measures to further develop the national economy for international integration. Positive changes made in national development In recent years, national economic growth has been maintained at a high level. In the first half of this year, the economic growth rate reached a five-year record high of 7.87 percent. Industrial production increased by 16.9 percent; agro-forestry and aquaculture, 2.67 percent, and services, 8.41 percent. Export activities have contributed to 50 percent of GDP and developed in both turnover and market. In the first half of this year, export turnover hit more than US$22.4 billion, with six key products surpassing the US$1 billion mark each. From a rice importer, Vietnam has met domestic consumption and become the 2nd biggest rice exporter in the region. Coffee, pepper and cashew nut exports have also achieved a rather high growth, thereby affirming Vietnam’s position in the world export market. Financial and budget activities have been stable. Budget collection and spending has been maintained at a rather high growth rate. The establishment of the securities market has helped mobilise a great deal of capital sources for the national economy,…... [read more]

Deputy Minister of Agriculture and Rural Development (MARD) Ho Xuan Hung says that though the State devised a policy on agricultural mechanisation, farmers have almost never benefited from this policy. He recalls that many localities began using modern machines in agricultural production several years ago, receiving strong response from farmers. After a short period of time, industrial parks mushroomed in rural areas along with the development of the national economy, seeking super profit. Consequently, many farmers gave up agricultural production to work for industrial parks while localities no longer cared much about agricultural mechanisation. It was a great shock when MARD announced that post-harvest loss has made up 10-11 percent of total food output. “It is unbelievable in comparison with the development of the agricultural sector, which achieves a growth rate of only 3-4 percent annually,” Mr Hung says, adding that nothing has been done so far to improve the situation. According to Doan Xuan Hoa, deputy head of the Agro-Forestry Product Processing and Salt Production Department under MARD, Vietnam has only mechanised several processes of agricultural production such as soil preparation and transportation while the proportion of mechanisation in rice transplanting and harvesting and sugarcane harvesting is very low. In addition, he says the manufacturing and assembling of agricultural machines has not met the sector’s demand. Although Vietnam has up to 42 mechanical engineering plants, most of them focus on manufacturing and assembling motorcycles and automobiles for much larger profits. Mr Hoa says that the Vietnam Engine and Agricultural…... [read more]

Since April 30, 1975, which marked the liberation of South Vietnam, the country has been entering a new era of building a civilized and modern nation with its economy developing strongly in the process of international integration.Vietnam’s entry to the World Trade Organisation (WTO) in 2007 is testimony to the Vietnamese economy’s participation in the global playing field on an equal footing with other countries.After 20 years of implementing the Doi Moi (Renewal) process, Vietnam has made a breakthrough to become an economy with an average annual growth rate of between 7-8 percent without relying on foreign aid.From a planned economy, Vietnam has gradually developed a market economy along with the formation of key economic sectors such as mechanical engineering, shipbuilding, telecommunications, metallurgy and crude oil production and the establishment of many industrial parks and export processing and high-tech zones in provinces and cities across the country.After the eventful day of April 30, 1975, HCM City has emerged as the country’s biggest industrial city, with an average annual economic growth rate of more than 13 percent over the past decade. So far, HCM City has set up more than 40,000 industrial enterprises employing 1 million workers with their output value accounting for 30 percent of the country’s total industrial production value and 50 percent of the southern region’s.Over the last four months, despite facing a lot of difficulties, HCM City has newly established another 6,400 enterprises while more than 10,200 enterprises have increased their investment capital.In the meantime, after 33…... [read more]

State President Nguyen Minh Triet and his wife will officially visit Russia from October 27 to 29 and Mongolia from October 30-31 at the invitation of Russia’s President Dmitry Medvedev and Mongolia’s President Nambaryn Enkhbayar. The visits come at a time when Vietnam is successfully implementing the renewal process, consistently pursuing foreign policy of independence, openness, multi-lateralisation and diversification, achieving a high economic growth rate and deeply integrating into the region and the world elevating the position of the country in the international arena. Despite socio-economic difficulties in 2008, Vietnam is still a potential destination for foreign investors. President Triet’s visits to Russia and Mongolia affirmed that the Vietnamese Party, State and people always attach great importance to consolidating and strengthening the comprehensive strategic partnership with Russia and traditional relations of friendship with Mongolia and raising these relations to new heights for mutual benefit. Vietnam welcomes Russia’s great achievements in development. Since 2000, under the leadership of former President Vladimir Putin, Russia has covered and developed strongly. Mr Putin implemented a series of measures to stabilise society, consolidate power and State sanctions, reform the political system, ensure territorial integrity and restore order in Kavkaz. Handing over power took place in a peaceful and constitutional manner. D. Medvedev’s becoming President and Mr Putin’s undertaking the Prime Minister position have created stability for Russia in its internal and external policies as well as economic policies. Regarding the economy, after serious difficulties due to a crisis in the 90s, since 2001 the Russian…... [read more]

On the theme of ASEAN Charter for ASEAN People, ASEAN leaders will discuss measures to increase regional cooperation, speed up the establishment of an ASEAN Community, weather the global financial storm, ensure food and energy security, mitigate the consequences of natural disasters, and expand the external relations of the bloc. The summit takes place at a time when ASEAN is preparing to build a united community by 2015 based on the ASEAN Charter which was enforced on December 15, 2008. In addition, the bloc is coping with countless challenges arising from the fallout of the current global financial crisis. Besides official meetings, Prime Minister Nguyen Tan Dung and other ASEAN leaders will attend dialogue and informal meetings with the ASEAN Inter-Parliamentary Assembly (AIPA), and representatives of ASEAN Youth and other civil social organisations. PM Dung and Deputy PM and Foreign Minister Pham Gia Khiem will have bilateral meetings with the heads of State and FMs of several countries. By attending the regional meeting, Vietnam wants to lift its role and position within ASEAN, helping to strengthen regional solidarity, cooperation and integration, ensure the association’s leading role in maintaining peace, stability and development, increase cooperation between ASEAN and its dialogue partners and make full use of international assistance for realising its goals. ASEAN was founded on August 8, 1967, marking a milestone in its regional development. From just five founders at the beginning, namely Indonesia, Malaysia, the Philippines, Singapore and Thailand, ASEAN later admitted Brunei in 1984, Vietnam in 1995, Laos…... [read more]

On the morning of May 23 (Hanoi time), State President Nguyen Minh Triet returned to Hanoi, successfully concluding his tour of Belarus, Switzerland and Finland, ushering a new period in friendship and cooperation between Vietnam and all the three European nations. Belarus, Switzerland and Finland - Vietnam's important partners in Europe gave their valuable support to Vietnam’s past struggle for national liberation and its current process of national construction. However, economic, trade and investment cooperation between Vietnam and these three countries has yet to match their fine political relations. For example, last year's two-way trade turnover with Belarus and Finland reached only US$120 million and US$230 million, respectively. Mr Triet's visits were successful in the following results: Leaders and people of Balarus, Switzerland and Finland attached great importance to enhancing their traditional friendship with Vietnam and affirmed their determination to develope their friendly relations and reliable partnership with the country. Mr Triet and the three countries' leaders agreed on major solutions to strengthen multi-faceted cooperation through the signing of joint statements and important agreements during the visit. Belarus, Switzerland and Finland highlighted Vietnam's role in the region and the world and expressed their willingness to act as a bridge to the promotion of relations between Vietnam and Europe and Vietnam is also ready to do the same to help the three countries to expand their relations with South East Asia. During the visit, Vietnam reached many specific agreements to step up economic, trade and investment cooperation with the three countries…... [read more]

Vietnam’s first ultra-clear float glass factory built

Those who seek employment are required to register at Hanoi’s Job Generation Centres and those who want to apprentice can register directly with the Hanoi Department of Labour, Invalids and Social Affairs. Hanoi has asked banks to create the best possible conditions for workers returning home from Libya to clear their debts within two years. Many domestic businesses have employed a large number of workers coming back from Libya. The Khang Thong Group has recruited 10,000 workers and VIGLACERA Corporation approximately 1,000 workers to work for its member companies. The Toan Phat Industry and Construction Joint Stock Company Topaco in Hanoi has also accepted around 40 engineers and project managers from Libya with monthly income from US$350-1,000, and 350 construction workers and welders with a monthly salary of US$200-250 each.... [read more]

The ship carrying the last group of 1,100 Vietnamese workers from Libya is scheduled to dock at Cai Lan port, Quang Ninh province, on April 4. 70 percent of the total 10,000 workers are aged 21-30 and half of them had worked in Libya for over one year. There are some 10 businesses in need of workers and the Department for Management of Overseas Workers has met with these companies and discussed recruitment procedures. Minister of Labour, Invalids and Social Affairs Nguyen Thi Kim Ngan said on March 9 that her ministry will ask labour supplying companies to create favourable conditions for workers from Libya to seek employment in different areas. Viglacera Corporation has recruited a number of guest workers from Libya. Phan Son Tung, aged 23, from Thai Nguyen province, is one of the lucky guest workers recruited by Viglacera. Tung said his parents had borrowed VND30 million and saved another VND10 million to send Tung to work in Libya as an electrical worker. However, after only two days in the ‘promising land’, he had to evacuate together with 400 other Vietnamese workers to Tunisia to avoid conflicts in Libya. When landing at Noi Bai International Airport in Hanoi, Tung was contacted by Viglacera staff, who later accepted him on two months’ probation with a monthly salary of VND2.6 million plus VND200,000 allowance for his accommodation. He also has free lunch at the company. Once becoming an official worker for Viglacera, Tung can earn a minimum wage of VND5…... [read more]

The five-day event was co-organised by the Ministry of Construction and the Vietbuild Construction International Exhibition Organisation Corporation. On display are a wide range of construction materials, interior design models, smart home systems, electronic equipment, sanitation solutions, and glass products. The Viglacera Corporation, Lotus Group, Hung Phu Thanh Aluminum Technology Co. Ltd, Phuc Khang Construction and Investment Corporation, and Eurowindow Joint Stock Company all number among the exhibition’s participants. A series of seminars relating to the building sector will also be held within the framework of the exhibition.... [read more]

Omar Mehsas, president of the chamber of commerce and industry of Constantine region, made the recommendation at a working session with Vietnamese Ambassador to Algeria Do Trong Cuong and Trade Counsellor Nguyen Van Mui in Constantine city on April 20. He said Algerian businesses want to learn from Vietnam’s experience in developing its strong areas such as construction, farm produce and seafood processing, garment, and oriental medicine manufacturing. Ambassador Cuong spoke of Vietnam’s strengths in construction, construction materials and labour, and asked the Algerian side for consideration. Representatives of the Algerian employers at the meeting said they will discuss the proposal in detail with the Vietnam’s Viglacera Corporation when this corporation is to attend an international construction exhibition in Algiers in May. At a meeting with the mayor of Constantine, Noureddine Bedoui, Cuong thanked the Algerians for supporting Vietnamese labourers in the city and asked the local administration to continue this assistance so as to contribute to enhancing the traditional friendship between the two nations. The ambassador later went to a construction site on the east-west highway to encourage the Vietnamese labourers working there. Constantine is 430 kilometres from the Algerian capital Algiers and it has significant economic relations with Vietnam, which attracts many Vietnamese labourers.... [read more]

Among the honoured enterprises, 20 were awarded gold, while the remainder received silver, revealed Tran Van Vinh, Deputy Director of Directorate for Standards, Metrology and Quality (STAMEQ). Many businesses have developed their trademark in the market by providing high quality products to consumers including Viglacera Corporation, Bac Giang Chemical And Fertilizer Co Ltd, Binh Dien Fertilizer Joint Stock Company, and Military Joint Stock Commercial Bank (MB). In addition, Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) and Traphaco Joint Stock Company were presented with the Global Performance Excellence Award (GPEA) by the Asia-Pacific Quality Organisation (APQO). The National Quality Awards aim to honour outstanding enterprises and organisations for their significant achievements in product quality, business operations and services. The event also provided an excellent opportunity for Vietnamese companies to sharpen their competitive edge, strengthen capacity and boost international integration.... [read more]

Hanoi (VNA) – Construction material manufacturer Viglacera Corporation on December 22 listed more than 65 million shares worth over 650 billion VND (28.2 million USD) on the Hanoi Stock Exchange (HNX), under the code VGC. The reference price of each share was 15,600 VND. Chairman of Viglacera’s board of directors Luyen Cong Minh said after making the initial public offering (IPO) more than one year ago, Viglacera listed shares on the Unlisted Public Company Market (UPCoM). On December 13, VGC shares were traded at 15,900 VND (0.69 USD). Viglacera, operating in construction materials and real estate, currently has 3.07 trillion VND (133.4 million USD) in charter capital, of which 78.82 percent is owned by the State, 9.16 percent by foreign stakeholders and 12.02 percent by domestic individuals and units. Throughout 42 years of operation, Viglacera has become the leading construction material maker in the domestic market and shipped products to more than 40 countries and territories worldwide. It is also the largest investor in industrial parks in the northern region.. Between 2015 and 2020, the corporation aims for an annual growth of 10-20 percent in major production lines. Nguyen Thanh Long, Chairman of the HNX Board of Directors, said one year since the successful listing on UPCoM, Viglacera’s capitalization has surged 75 percent. VGC is the 167th listed on the HNX this year, he said.-VNA... [read more]

In a move to attract new investment capital, the Viglacera Corporation will change its listing from the Unlisted Public Company Market (UPCoM) to the Hanoi Stock Exchange (HNX) on December 22 and trade under the code VGC. With a par value of VND10,000 ($0.44) per share, its more than 65 million shares will be valued at VND650 billion ($28.56 million). The starting price will be VND15,600 ($0.69) on the first day of trade on HNX. Last July the Ministry of Construction (MoC), which holds 91.49 per cent of Viglacera, auctioned 11.34 per cent of its shares for VND418 billion ($19 million). The divestment attracted much attention from foreign investors, who purchased 15.5 million shares out of the total of 30 million floated on July 28, according to HNX. The average bid price was VND13,923 ($0.63) against an initial price of VND11,700 ($0.53). As of now, the State, via MoC, remains a majority shareholder in Viglacera, with 78.82 per cent, while foreign shareholders have 9.16 per cent and domestic shareholders 12.02 per cent. Its charter capital is registered at VND3.07 trillion ($134.9 million). On December 13 Viglacera’s shares closed at VND15,900 ($0.7), up VND5,300 ($0.23) since being first traded on UPCoM. With 42 years in business, Viglacera operates in two major sectors: construction materials and real estate. It has been the leading enterprise in the domestic construction materials market and the biggest investor of industrial zones in Vietnam’s northern region. Despite being known for products such as sanitary ware, ceramic and…... [read more]

The joint venture of Viglacera Corporation-JSC (Viglacera) and Cuban El Grupo Empresarial Industrial de la Construccion (Geicon) is expected to start operation in early 2017 with the chartered capital of $39.86 million. The two parties will contribute 50 per cent each. Once the joint venture is established, it will produce ceramics, sanitary wares, and tiles to meet the demand for construction materials in Cuba and Latin America. Viglacera and Geicon are now working on completing the feasibility study that has to be submitted to both governments for approval. Geicon will be in charge of building raw material exploitation plans to ensure smooth operations as well as the consumption plan in its domestic market. According to the plan, 70 per cent of the joint venture’s output will be consumed on Cuba and the rest will be exported. In October 2014, the two sides signed a Memorandum of Understanding (MOU) to set up the joint venture to produce bathroom fixtures and tiles in San Jose and Santa Cruz. The Cuban market has a high demand for construction materials as the country is encouraging investment in housing and tourism infrastructure. Since early 2014, Viglacera has sent two groups of technology specialists to work with construction material factories in the country. Geicon, under the Cuban Ministry of Construction, is comprised of 24 companies with a combined workforce of 16,000 people and annual sales revenue of more than 220 million pesos ($8.3 million). Regarding Viglacera, established in 1974, the company has developed from a traditional…... [read more]

Viet Nam News HÀ NỘI - Viglacera Corporation, a construction materials producer in Việt Nam, is entering into a joint venture partnership with Cuban giant developer Geicon, to manufacture building materials in the Caribbean island nation. The joint venture will have a charter capital of US$39.86 million, and capital contribution will be 1:1. The two sides are now working on completing a feasibility study report that has to be submitted to both governments for approval. Geicon will be in charge of raw materials exploitation and transportation plans to ensure smooth operations and sales in the domestic market, which is estimated to buy 70 per cent of output; the rest will be exported. Viglacera will upgrade its two existing ceramics and sanitary ware plants and invest in building two more, four years after the joint venture is operational. - VNS... [read more]

The Hanoitimes - Making his speech at a meeting on the social housing development in Hanoi on December 7, Prime Minister Nguyen Xuan Phuc highly appreciated the achievements of Hanoi in developing social housing projects for workers. Prime Minister (PM) Nguyen Xuan Phuc chaired an national online meeting on social housing development in Hanoi on December 7. Prime Minister Nguyen Xuan Phuc chairs the conference. Deputy PMs Trinh Dinh Dung and Vu Duc Dam attended the conference. Addressing the meeting, the PM stressed that the social housing development is the responsibility of the State, the society and people. The Government stressed the need to develop low-cost housing for workers, an urgent problem today, and shared the Government’s worry about the issue when 1.5 million workers, especially those working in industrial parks (IPs), are in need of housing. He said besides investment from the State budget, owners of IPs are also responsible for building houses for their workers. Successful social housing development models should be multiplied across the country, he noted. PM Phuc urged all localities to soon devise specific policies on social housing development. The project is accompanied by synchronous support facilities such as nurseries, kindergartens, sporting areas, restaurants, and supermarkets, along with greenery. Delivering his speech at the conference, Vice Chairman of Hanoi People's Committee Nguyen The Hung said the city has implemented sucessfully the social housing project of Dang Xa in Gia Lam district. The Vice Chairman noted that the social housing project of Dang Xa which was…... [read more]

PM inspects Formosa’s waste treatment system

The Hanoitimes - The Directorate of Fisheries under the Ministry of Agriculture and Rural Development (MARD) has set a goal of 7.1 billion USD in seafood export revenue in 2017. It targets total fishery production output of 6.85 million tonnes for the whole year, including 3.05 million tonnes of sea catch and 3.8 million tonnes from aquaculture, said Nguyen Ngoc Oai, deputy head of the agency at a recent conference. Vietnam’s export turnover of aquatic products reached 7 billion USD in 2016, an increase of 6.6 percent over 2015, reported the Ministry of Agriculture and Rural Development. According to the Directorate of Fisheries, in the first half of this year, drought and saltwater intrusion in south central provinces and the Mekong Delta region, as well as the maritime environmental incident in four central provinces have caused severe impacts on aquaculture and seafood catching. However, thanks to the drastic instructions of administrations at all levels, the sector saw improvements in the second half. In 2016, the total output of aquatic products exceeded 6.7 million tonnes, a year-on-year increase of 2.5 percent. It included 3.1 million tonnes from fishing, and 3.6 million tonnes from aquaculture, up 1.7 percent and 3.3 percent, respectively. The total farming area reached 1.3 million hectares. In 2016, the total area of tra farming was 5,050 hectares, producing 1.15 million tonnes, fulfilling the annual target. Meanwhile, the tilapia breeding area was 25,000 hectares, churning out 200,000 tonnes. The major importers of the product were the US, Spain and…... [read more]

Top 10 domestic events in 2016 selected by Voice of Vietnam 1. Success of the 12th National Party Congress The 12th National Party Congress from January 20 to 28 was a political event of paramount importance. It defined the six key tasks for the 2016-2021 period to enhance Party building and rectification and boost socio-economic development, turning Vietnam into an industrial country and safeguard national independence, sovereignty and territorial integrity. Mr. Nguyen Phu Trong was reelected General Secretary of the Communist Paty of Vietnam. 2. National Assembly and People's Council Elections 67 million voters cast their ballots on May 22 to elect deputies to the 14th National Assembly and People’s Councils at all levels for the 2016-2021 tenure. The success of the elections was a major step in the process of building a socialist State governed by law. Mr. Tran Dai Quang was elected President, Mr. Nguyen Xuan Phuc Prime Minister and Ms. Nguyen Thi Kim Ngan National Assembly Chairwoman. The new leaders vowed to build an integral, transparent and strong State. 3. Party determination to fight corruption The 4th plenum of the 12th Party Central Committee adopted a resolution that defines strong measures to enhance Party building and rectification and prevent degradation of political ideology, morality and lifestyle and signs of “self-evolution” and “self-transformation”. 3 former Party Central Committee members and several senior officials involved in corruption were disciplined. 4. Record number of new businesses The national year of startup 2016 resulted in the establishment of more than 103,000…... [read more]

Viet Nam News The Vietnam News Agency (VNA) has selected Việt Nam's 10 most outstanding events of 2016 as follows: 1. The 12th National Party Congress. With the spirit of "Solidarity - Democracy - Discipline - Renewal", the 12th National Party Congress was successfully held from January 20-28, 2016. The congress reviewed 30 years of renewal (đổi mới) and set out development orientations of the nation in the new period. The congress defined six key tasks in a bid to enhance the Party's building and rectifying work and continue implementing reforms comprehensively and synchronously to build Việt Nam into a strong country with prosperous people, and a democratic, fair and civilised society. 2. The election of deputies to the 14th National Assembly and People's Councils at all levels for the 2016-21 tenure. The election of deputies to the 14th National Assembly and People's Councils at all levels was organised publicly, democratically, legally, safely and economically, becoming a festival of the entire people. The success of the election laid a foundation for strengthening the organisational and personnel structure of the State apparatus and continuing to build a socialist law-governed State of the people, by the people and for the people, with the resolve to build an upright, active and serviceable government. 3. Overcoming difficulties, the economy continues to record fairly high growth. Under the leadership and direction of the Government, the determination of the entire political system and the active participation of the business community, Việt Nam's economy has continued to…... [read more]

The Hanoitimes - On December 28, Prime Minister Nguyen Xuan Phuc presided over the online conference with the task of implementing socio-economic plan and State budget in 2017. At the point of Hanoi, the conference saw the attendance of Member of the Politburo, Party Secretary Hoang Trung Hai, Chairman of Hanoi People's Committee Nguyen Duc Chung, Chairman of the Hanoi People's Council Nguyen Thi Bich Ngoc and the leaders of the city's departments and branches. Addressing the conference, PM Nguyen Xuan Phuc has directly pointed out ten positive achievements and nine weaknesses in the socio-economic performance in 2016. Firstly, the macro-economy was basically stable with major balances ensured. The economy expanded relatively with CPI hiting 4.74%, and GDP grwoing 6.21%, which was higher than the average rates of other Asian developing country with 5.5% and ASEAN member states of 4.5%. The outcomes were encouraging amidst difficulties facing mining and agricultural production (due to maritime environmental incident, natural disasters, and crude oil output drop around 1 million tone). Credit growth was around 17%. Foreign reserve hit US$ 41 billion, the ever record high. State budget collection met set target. Total social investment accounted for 33% of GDP. Export picked up 8.6%. Trade surplus valued at US$ 2.68 billion. Secondly, business performance was thriving. For the first time in history, over 110,000 firms were founded in 2016 with a total registered capital of over VND 891 trillion, up 16.2% in number and 48.1% in value. Nearly 27,000 firms resumed operation. Thirdly, FDI…... [read more]

The news was announced on December 28 in Ha Noi at a press briefing on socio-economic performance in 2016. Director General of the GSO Nguyen Bich Lam reported that GDP growth was estimated at 6.21% against 2015, lower than the preset goal of 6.7%. In December, CPI went up 0.23% against the previous month and saw a year-on-year growth of 2.66%. Basic inflation rate in December picked up 1.87% against last December and 1.83% against 2015. Accordingly, GDP and CPI were lower than the preset goals. The agro-forestry-fishery sector experienced the lowest growth pace of 1.36% since 2011. Forestry production expanded 6.11%. The mining industry suffered from a sharp drop of 4%, the lowest rate since 2011 due to sharp falls of crude oil (about 1.67 tons) against last year. Coal exploitation also decreased 1.26 million tons against last year. The industrial and construction sector also grew 7.57%, lower than the rate of 9.64% last year. The service sector expanded 6.98%. In the context of difficult weather, complicated maritime environmental incident, and disadvantageous global economy, the growth rates were successful thanks to timely and effective measures of the Government, said Director General of GSO Nguyen Bich Lam./. By Khanh Phuong... [read more]

In 2016, the macro-economy was stable and major economic balances were ensured. Consumer price index (CPI) picked up 4.74%, lower than the National Assembly’s preset goal of under 5%. GDP growth rate was estimated at 6.21% amidst difficulties in mining and agricultural production (including 1% GDP loss from agricultural damage, 0.3% from the maritime environmental incident, and 1 million tons of crude oil output). Despite unexpected natural disasters and serious consequences of the maritime environmental incident, the agro-forestry-fishery sector gained the growth pace of 1.36% from minus in the first half (-0.18%). Noticeably, foreign reserve hit US$ 41 billion, setting a record high. For the first time in Viet Nam’s economic history, over 110,000 enterprises were set up with a total registered capital of over VND 891 billion, up 16.2% in number and 48.1% in value. As many as 27,000 enterprises resumed operation in 2016. FDI attraction also made a new record. As of December 26, 2,556 FDI projects got US$ 15.18 billion of registered capital. Total newly-registered and additional capital valued at US$ 24.4 billion, representing a year-on-year surge of 7%. About US$ 15.8 billion of FDI was disbursed. In tourism, Viet Nam welcomed an unprecedented high number of foreign tourists with over 10 million, up 26% against 2015. The business environment was also improved. According to the latest ranking of the World Bank, Viet Nam was placed at 82th out of 190 countries and territories in the business environment, up 9 steps against the previous year. This marked…... [read more]

PM Phuc was presiding over a Government conference with local leaders on socio-economic performance and State budget in 2016 on December 28 in Ha Noi. Top 10 outstanding achievements Firstly, the macro-economy was basically stable with major balances ensured. The economy expanded relatively with CPI hiting 4.74%, and GDP grwoing 6.21%, which was higher than the average rates of other Asian developing country with 5.5% and ASEAN member states of 4.5%. The outcomes were encouraging amidst difficulties facing mining and agricultural production (due to maritime environmental incident, natural disasters, and crude oil output drop around 1 million tone). Credit growth was around 17%. Foreign reserve hit US$ 41 billion, the ever record high. State budget collection met set target. Total social investment accounted for 33% of GDP. Export picked up 8.6%. Trade surplus valued at US$ 2.68 billion. Secondly, business performance was thriving. For the first time in history, over 110,000 firms were founded in 2016 with a total registered capital of over VND 891 trillion, up 16.2% in number and 48.1% in value. Nearly 27,000 firms resumed operation. Thirdly, FDI attraction also set a new record. As of December 26, Viet Nam had 2,556 new FDI projects with US$ 15.18 billion of registered capital. Generally, the amount of newly-registered and additional capital fetched US$ 24.4 billion, up 7%. Meanwhile, US$ 15.8 billion of FDI was disbursed, up 9% against the same period last year, making a record high. Fourthly, the service and tourism sector progressed positively. The service sector…... [read more]

Hanoi (VNA) - Vietnam’s export turnover of aquatic products reached 7 billion USD in 2016, an increase of 6.6 percent over 2015, reported the Ministry of Agriculture and Rural Development. According to the Directorate of Fisheries, in the first half of this year, drought and saltwater intrusion in south central provinces and the Mekong Delta region, as well as the maritime environmental incident in four central provinces have caused severe impacts on aquaculture and seafood catching. However, thanks to the drastic instructions of administrations at all levels, the sector saw improvements in the second half. In 2016, the total output of aquatic products exceeded 6.7 million tonnes, a year-on-year increase of 2.5 percent. It included 3.1 million tonnes from fishing, and 3.6 million tonnes from aquaculture, up 1.7 percent and 3.3 percent, respectively. The total farming area reached 1.3 million hectares. In 2016, the total area of tra farming was 5,050 hectares, producing 1.15 million tonnes, fulfilling the annual target. Meanwhile, the tilapia breeding area was 25,000 hectares, churning out 200,000 tonnes. The major importers of the product were the US, Spain and Colombia. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the tilapia export value hit 45 million USD, a year-on-year increase of 32 percent. In 2017, the sector strives to produce 6.85 million tonnes, including 3.05 million tonnes from fishing and 3.8 million tonnes from farming, and earn 7.3 billion USD from exports.-VNA... [read more]

Hanoi (VNA) - The Vietnam News Agency (VNA) has selected the 10 most outstanding events of Vietnam in 2016 as follows: 1. The 12th National Party Congress With the spirit of “Solidarity – Democracy – Discipline – Renovation”, the 12th National Party Congress was successfully held from January 20-28, 2016. The congress reviewed 30 years of reform (Doi Moi) and set out development orientations of the nation in the new period. The congress defined six key tasks in a bid to enhance the Party building and rectifying wok and continue stepping up reform comprehensively and synchronously to build Vietnam into a strong country with prosperous people, and democratic, fair and civilised society. 2. The election of deputies to the 14th National Assembly and People's Councils at all levels for the 2016-2021 tenure The election of deputies to the 14th National Assembly and People’s Councils at all levels was organised publicly, democratically, legally, safely and economically, becoming a festival of the entire people. The success of the election laid a foundation for strengthening the organisational and personnel structure of the State apparatus and continuing to build a socialist law-governed State of the people, by the people and for the people, with the resolve to build an upright, tectonic, active and serviceable government. 3. Overcoming difficulties, the economy continues to record fairly high growth Under the leadership and drastic direction of the Government, the determination of the entire political system and the active participation of the business community, Vietnam’s economy has continued…... [read more]

According to the Directorate of Fisheries, in the first half of this year, drought and saltwater intrusion in south central provinces and the Mekong Delta region, as well as the maritime environmental incident in four central provinces have caused severe impacts on aquaculture and seafood catching. However, thanks to the drastic instructions of administrations at all levels, the sector saw improvements in the second half. In 2016, the total output of aquatic products exceeded 6.7 million tonnes, a year-on-year increase of 2.5%. It included 3.1 million tonnes from fishing, and 3.6 million tonnes from aquaculture, up 1.7% and 3.3%, respectively. The total farming area reached 1.3 million hectares. In 2016, the total area of tra farming was 5,050 hectares, producing 1.15 million tonnes, fulfilling the annual target. Meanwhile, the tilapia breeding area was 25,000 hectares, churning out 200,000 tonnes. The major importers of the product were the US, Spain and Colombia. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the tilapia export value hit US$45 million, a year-on-year increase of 32%. In 2017, the sector strives to produce 6.85 million tonnes, including 3.05 million tonnes from fishing and 3.8 million tonnes from farming, and earn US$7.3 billion from exports.-... [read more]

Vietnam News Agency marks Day of Invalids, Martyrs

The US Department of State on November 13 removed Vietnam from the list of “Countries of Particular Concern “(CPC) in recognition of the country’s constant efforts to improve its religious affairs. John Hanford, ambassador-at-large for religious freedom of the US Department of State said, “Vietnam has made significant improvements toward advancing religious freedom.” This is a recognition of the stark reality in Vietnam which has deliberately been denied for a long time by some hostile forces in the US. Re-visiting Vietnam recently, former US Ambassador to Vietnam Pete Peterson affirmed that all religions are recognised in Vietnam and that religious people are free to go to churches and pagodas to do religious activities. During a recent visit to the Central Highlands provinces, Prof. Bobby Gene Jv, member of the Institute for Global Engagement (IGE)said religious activities in the Central Highlands region in general and in Gia Lai in particular are conducted in a democratic manner. All local people are equally treated and are entitled to decide whether or not to follow a certain religion. They really enjoy living a free and happy life in great unity and seeing churches re-built or refurbished beautifully. US Ambassador to Vietnam Michael W.Marine noted that the US Government has highly praised religious freedom in Vietnam. There is no denying that apart from making great strides in socio-economic development, the Vietnamese Party and State has spared no effort to create favourable conditions for people to exercise freedom of belief and religion. Regrettably, in recent times,…... [read more]

In a recent interview granted to Vietnam News Agency, Deputy Prime Minister and Foreign Minister Pham Gia Khiem said the EWEC is one of the five economic corridors in the Greater Sub-Mekong Region (GMS), which was approved at the eighth GMS Ministerial Meeting in October 1998. With funding from the Asian Development Bank and the Japanese Government, major transport infrastructure facilities lying along the corridor have been upgraded, including Tien Sa and Da Nang ports, Hai Van tunnel and National Highway No 9 inside Vietnam. Notably, the second international bridge spanning the Mekong River was open to traffic in late 2006, linking Thailand's seven northeastern provinces, Laos' Savannakhet province and Vietnam's three central provinces. In addition to developing transport infrastructure facilities, relevant countries have coordinated closely in simplifying procedures, facilitating cross-border travel, enhancing cooperation in tourism and human resource development, and attracting investment for the sake of steady economic development and sustainable poverty reduction. The western part of the corridor, which runs from Thailand to Myanmar, will be under construction soon to turn the EWEC into an inland corridor connecting the Pacific and Indian Oceans. Once completed, the EWEC project will help millions of people living in the four countries escape poverty, narrow the development gap and strengthen linkages between the EWEC and other regions in Southeast Asia and the world. The project will enable the four countries to better tap their natural resources and potential, and expand their markets. It will also help them expand external economic ties, promote…... [read more]

Mr Trong told the Vietnam News Agency prior to his departure that various meetings, exchanges and trade and investment promotion activities will be held between a number of Vietnamese and European businesses during the visits. He said that Vietnam and the four European countries have specific potential and strengths that can complement and support each other. The European nations have strengths in the high-technology industries, such as shipbuilding, oil and gas, mechanical engineering, chemicals, pharmaceuticals, agriculture, biotechnology, education and health care. Meanwhile, with a population of more than 80 million and a dynamic economy, Vietnam is a big market and an attractive destination for European investors.During the tour, the Vietnamese legislative body and those of the four European countries will discuss measures to increase exchanges and cooperation and also share experiences in devising and applying legislation. Many agreements to expand cooperation in legislative affairs will be signed between the concerned nations. According to Mr Trong, his European tour is to further implement the Party and the State’s foreign policy of independence, self-reliance and openness as well as diversification and multilateralisation of international relations for the sake of peace, cooperation and development in the region and the rest of the world. The tour is a good chance for all parties to discuss measures to boost ties, particularly in legislation, at a time when Vietnam National Assembly was recently elected to the management board of the Inter-Parliamentary Union that boasts more than 150 members, including Hungary, Romania, Bulgaria and France.Vietnam established diplomatic…... [read more]

Senior Buddhist monk Thich Huyen Quang was admitted to Binh Dinh General Hospital on May 27 due to his breathing difficulties and heart failure. He had received medical treatment and good care from the doctors, his assistants and followers until he passed away on July 5 at the age of 90. While he was in hospital, representatives from the Government Committee for Religious Affairs, the Vietnam Buddhist Sangha, the Executive Councils of the Vietnam Buddhist Sangha chapters in Binh Dinh, Thua Thien-Hue and Khanh Hoa provinces and other localities visited to inquire into his health and they all wished him a quick recovery. However, several elements who claimed to represent the Paris-based International Buddhist Information Bureau made slanderous charges against the local authorities and the Vietnam Buddhist Sangha, saying that the administration is to blame for no religious freedom in Vietnam. In fact, they have recently worked in cahoots with other reactionaries wearing monk’s robes to besmirch and sabotage the Vietnamese State. This time, on the pretext of Thich Huyen Quang’s death, they tried to revitalise an outlawed organisation called the Unified Buddhist Church of Vietnam. The Vietnam News Agency (VNA) on July 5 quoted the Most Venerable Thich Thien Tanh, deputy head of the Executive Board of the Ho Chi Minh City Buddhist Sangha as saying “while the local authorities, Buddhist dignitaries, monks and nuns were worried about Thich Huyen Quang’s health and wished for his quick recovery, Thich Quang Do and some elements from the International Buddhist Information…... [read more]

Mr Khiem, who is also Minister of Foreign Affairs, made the remark in a recent interview granted to the Vietnam News Agency. He said that through meetings and high-level contacts, APEC has become an important channel for Vietnam to boost its ties with other regional economies and that cooperation within the 21-member forum has also helped enhance the nation’s image and position in the region. “Vietnam’s admission to APEC marked an important milestone during the course of implementation of the Party’s and the State’s foreign policy of openness, multilateralisation, diversification and integration into the world economy,” Mr Khiem said. According to the Deputy PM, since Vietnam became APEC’s official member in November 1998, the nation has made marked contributions to the forum. Vietnam has fully and responsibly participated in APEC cooperation programmes and actively joined other member economies in new areas of cooperation, such as human security, health care, education and tourism alongside traditional trade activities, he added. By sharing experiences and information, particularly with developing member economies, Vietnam has efficiently contributed to a number of areas of cooperation between APEC members, including fisheries, agriculture and the prevention of bird flu and other epidemics, the deputy PM said. The Southeast Asian nation has also participated in APEC committees for trade, investment and economics as well as its working groups regarding business travel, small- and medium-sized enterprises, health care, fight against terrorism, emergency preparedness and response. “One of Vietnam’s prominent and practical contributions to the forum was its successful organisation of…... [read more]

VOV in the front line of emulation A week after its establishment, two VOV news bulletins in English and French appeared in the first transmission of the Vietnam News Agency. In the following years VOV joined efforts with the Vietnamese people in the protracted resistance wars against French colonialists and US imperialists, as well as with its affiliates such as the Vocie of Southern Resistance, Saigon-Cho Lon, Interregion Five, Liberation CP90, Northwest-Northern Vietnam-Cao Bac Lang and Tram Cave broadcasting stations, Bach Mai, Me Tri and CK2 transmitting stations and others in the formation of a united voice of Vietnam. In the resistance war against French colonialists, VOV had to relocate its station for 14 times to ensure its broadcasts uninterrupted. After the US air blitz over Hanoi on the nights of Dec. 21 and 22, 1972, the technical facilities of VOV were badly damaged, but the Voice of Vietnam continued echoing over the country and some parts of the world. Hundreds of VOV’s reporters, singers and artists engaged in the two protracted resistance war. Dozens of them laid down their lives on the battlefield. The current archives of VOV still keeps 30,000 broadcasting hours or 50,000 programmes on tapes and discs which are of historical value. They have been digitalized for long-term maintenance and use such as real sound from the old battles, plants, construction sites, immortal songs, particularly Ho Chi Minh’s voice reading the Declaration of Independence and appealing for national resistance, and Saigon puppet generals’ statement of surrender.…... [read more]

Tran Duy Hai, Deputy Director of the National Boundary Commission (NBC) made the affirmation in an interview granted to the Vietnam News Agency after China illegally brought its oil rig into Vietnam’s waters, brazenly violating Vietnam’s sovereign right and jurisdiction in the East Sea. He affirmed that Vietnam has sufficient historical evidence to prove its sovereignty over the Hoang Sa (Paracel) and Truong Sa (Spratly) archipelagoes as well as its sovereign rights and jurisdiction over its waters in line with the 1982 United Nations Convention on the Law of the Sea (UNCLOS 1982). “In any circumstance and from any angle, China’s move of bringing the oil rig and dozens of vessels of all kinds into Vietnam’s waters is unlawful and runs counter to provisions of international law, and Vietnam strongly protests these acts,” Hai said. Asked about China’s statement at a press conference on May 8 that it would only sit down for negotiations when Vietnam withdraws ships from the area where China is attempting to position the oil rig, the official made clear that as the area is entirely in Vietnam’s sovereign right and jurisdiction, the presence of Vietnam’s law enforcement forces, which are the coast guard and the fisheries surveillance agency, at the site to exercise management measures is totally in line with international law. He stressed that the most important thing now is China must withdraw all its vessels and the oil rig from that area. In response to China’s allegation that Vietnamese ships intentionally crashed into…... [read more]

The one-day exhibition, which was organised by the Coalition for Asian-American Children and Families, is part of the Asian-Pacific American Heritage Month, introduced almost 100 photos taken by young photographers on the life, people and landscapes of countries in the Asia-Pacific. Although he was born in the US and travelled to many countries, he is impressed by Sa Pa’s beauty and people and the photos that were showcased at the exhibition were taken during his second visit to Sa Pa last April, Nguyen Bao told a New York-based Vietnam News Agency correspondent. Bao said that he would return to Vietnam to make a documentary on Sa Pa and a film on Vietnam. He hoped that the films will be completed early next year to be screened in the US and Vietnam. All photos displayed at the exhibition were auctioned to raise money for helping disadvantaged Asian American children and families in New York City.... [read more]

In a recent interview granted to a Vietnam News Agency correspondent, Chan Chong Beng, chairman of Singapore’s Association of Small & Medium Enterprises, said the successful operation of the four Vietnam-Singapore Industrial Parks (VSIP) shows Vietnam is an ideal destination for Singapore’s small and medium businesses. Chan said Prime Minister Lee will attend a ground-breaking ceremony of the fifth VSIP in Vietnam during the visit. He said Singaporean companies have plenty of opportunities to tap the Vietnamese market, especially in the areas of tourism, food processing, or garment making. He quoted a recent survey, saying HCM City is an optimal choice for Singaporean small and medium businesses to carry out their investment strategies. The executive also suggested Vietnamese businesses use Singapore as a gateway to penetrate other countries in the world.... [read more]

Enterprises from Vietnam and Cuba also gathered in a workshop on the sidelines of the event to discuss their cooperation prospects. On the occasion, Deputy Head of the Ministry of Industry and Trade’s Trade Promotion Agency Bui Thi Thanh An and Director of the Cuban Foreign Trade and Investment Promotion Centre (ProCuba) Roberto Verrier inked a Memorandum of Understanding (MoU) to boost collaboration between the two organisations. Trade between the two countries will be facilitated by their strong political relations, the two governments’ support as well as mutual understanding between their people, An told the Vietnam News Agency (VNA)’s reporter. She said it is a good time for Vietnamese firms to do business in not only Cuba but also the Latin America. The FIHAV 2015 attracted more than 1,000 enterprises from 70 countries and territories worldwide, including 24 from Vietnam.... [read more]

DOC ends anti-dumping investigation against VN polyester fibre

NDO - A Nhan Dan Online selection of notable events that made headlines over the past week. 1. Party General Secretary pays State visit to Cambodia Party General Secretary Nguyen Phu Trong and a delegation of high-ranking Vietnamese officials paid a State visit to Cambodia from July 20-22 at the invitation of Cambodian King Norodom Sihamoni. During his stay in Cambodia, Party General Secretary Nguyen Phu Trong held talks with Cambodian King Nodorom Sihamoni, meetings with Vice President of the ruling Cambodian People’s Party (CPP) and President of the Senate of Cambodia Samdech Say Chhum, Honorary President of the Cambodian People’s Party (CPP) and President of the National Assembly Heng Samrin, and Cambodia’s Prime Minister Samdech Hun Sen. He also attended an inauguration ceremony of the Vietnam-Cambodia Friendship Monument in Preah Sihanouk province. 2. Laos Vice President visits Vietnam General Secretary Nguyen Phu Trong (R) receives Lao Vice President Phankham Viphavanh, July 18, 2017 - Photo: VNA Vice President of Laos, Phankham Viphavanh, visited Vietnam to attend the 55th anniversary of Vietnam-Laos diplomatic ties and the ceremony marking 40 years since the signing of the Vietnam-Laos Treaty of Amity and Cooperation. The Vice President of Laos attended meetings with top Vietnamese leaders including Party Chief Nguyen Phu Trong, President Tran Dai Quang, National Assembly Chairwoman Nguyen Thi Kim Ngan, and PM Nguyen Xuan Phuc. 3. Vietnam, Thailand boost political-security cooperation A Vietnamese delegation, led by Deputy Minister of Public Security, Senior Lieutenant General Bui Van Nam, participated in the…... [read more]

Vietnam is due to officially join the World Trade Organisation (WTO) on November 7. However, what is next after that? In fact, all information collected from bilateral and multi-lateral negotiations so far is too common to be of much help to Vietnamese enterprises in building their own business strategies. If Vietnamese management agencies and enterprises only rely on basic WTO rules, they will have to make a drastic change in their operations and competitive activities, which requires not only their concerted efforts but also great support from international organisations. Currently, there are 20 donors with some 50 projects which provide different forms of trade support for Vietnam in its WTO accession process. The team leader of the Multilateral Trade Assistance Project, Dr Peter Naray, says the first challenge for Vietnam in its post WTO accession period is that the country will have to fully implement its commitments. Some areas which are considered to be difficult for Vietnam to implement are services, intellectual property, agriculture and fair trade. Therefore, Vietnam needs to make a drastic change in the management of trade activities, budget allocation andhuman resource development. It is rather difficult for not only Vietnam but also most countries to abide by WTO rules. The crux of the matter is that Vietnam needs to grasp good opportunities after it enters the world trade body and make the best of these opportunities to achieve greater market penetration, particularly for export products such as leather footwear, garments and textiles and home utensils. The…... [read more]

The ITC said that the US steel sector has been damaged by imported Vietnamese steel pipes, prompting the lodging of the initial anti-dumping lawsuit. Following US Government procedure, the Department of Commerce (DOC) will now continue with preliminary investigations into Certain Oil Country Tubular Goods imported from Vietnam. The preliminary anti-subsidy duty rate will be unveiled on September 13 with the preliminary anti-dumping duties following later on December 9. Eight nations—the Republic of Korea, India, Taiwan (China), Turkey, and Ukraine—are facing similar investigations. Dao Tran Nhan, head of Vietnam’s trade office in the US, said the investigations are themselves anti-competitive and protectionist. The office noted the majority of Vietnamese Certain Oil Country Tubular Goods are produced by joint ventures or foreign-invested companies. The DOC launched its largest ever anti-dumping investigation into Asian steel pipes on July 23. Vietnam’s US trade office said the DOC slashed its preliminary 103.43–111.47 percent anti-dumping duty imposed on Vietnamese steel pipes during the investigation.... [read more]

Vietnamese shoemakers do not dump their products in the European Union (EU) market, said Vice Chairman of the Vietnam Leather and Footwear Association (LEFASO) Nguyen Ngoc Lam at a press conference held in Hanoi on December 21. Mr Lam said the petition filed by the European Confederation of the Footwear Industry (ECFI) was based only on pure statistics, saying that Vietnam’s leather shoes enterprises had dumped their products by 130 percent in the EU market. In fact, up to 80 per cent of shoemakers in Vietnam worked under sub-contract for international conglomerates. These enterprises are not involved in the major production stages, so they have no power to set prices for their products. Therefore, they should be eliminated from the dumping lawsuit. LEFASO asked the European Commission (EC) to consider the possibility of suspending the anti-dumping investigation against Vietnamese enterprises. It also asked the EC to consider its decision on market economy status for eight investigated enterprises.... [read more]

While receiving Belgian Foreign Minister Karel De Gucht in Hanoi on June 12, Mr Dung said that despite the global economic slowdown, Vietnam’s economy has still achieved good results over the past five months. He said that the Government has adopted major measures to control inflation, stabilise the macro-economy, ensure social welfare and create favourable conditions for foreign investors. He expressed the hope that Belgium will continue to support Vietnam in negotiating an investment cooperation deal with the European Union. Minister De Gucht praised Vietnam’s achievements in poverty reduction and healthcare development. He said Belgian businesses want to invest in high-tech industries and medical equipment manufacturing in Vietnam. At another reception for the guest the same day, Deputy Prime Minister and Foreign Minister Pham Gia Khiem proposed Belgium continue its official development assistance programme for Vietnam and support the country’s leather shoe industry in anti-dumping investigations. He also asked Belgium to allow Vietnam to benefit from the Generalised System of Preferences (GSP) and recognise its market economy status. The Belgian minister said his country will continue to assist Vietnam in its ongoing renewal and expressed his belief in the bright prospects for the two countries’ future cooperation.... [read more]

The decision was made on July 2 targeting imported steel products coded HS 7219.32.00; 7219.33.00; 7219.34.00; 7219.35.00; 7219.90.00; 7220.20.10; 7220.20.90; and 7220.90.10; 7220.90.90. On June 5, the Vietnam Competition Authority (VCA) received legal dossiers from local steel producers Posco VST Co. Ltd and Hoa Binh Inox Joint Stock Company arguing the above products should be liable to between 20–40 percent anti-dumping taxes. Some steel importers voiced concern over the anti-dumping investigation, noting comparable Posco steel products are more expensive than their imported equivalents. The VCA said that relevant investigation agencies will carry out legal proceedings against the imported products according to Vietnam’s anti-dumping legislation. The investigation’s concerned parties can register for updates regarding the case until 30 days after the MoIT’s decision takes effect.... [read more]

The proposal was made after Brazil's Trade Protection Agency got the results of its investigation of Vietnamese shoemakers. Currently, China is the only defendant in the lawsuit. The Abicalcados’s move is expected to offer an opportunity for Vietnam’s footwear enterprises to increase their share and improve their competitive edge in the Brazilian market. The Abicalcados submitted the anti-dumping petition to the agency on October 30, 2008, asking for a probe into the imports from Vietnam, China and several other countries. Investigations were launched on December 15 and the agency found that Vietnamese shoemakers did not damage the Brazilian shoe market. The Vietnam Leather and Footwear Association said the volume of footwear exported to Brazil was relatively small, reaching almost US$40 million between January-November 2008.... [read more]

The signing took place on February 27 in Hua Hin, Thailand, where the leaders of the 10 Association of Southeast Asian nations (ASEAN) will gather for their 14th summit on February 28-March 1. According to Mr Crean, the recognition means that in any future anti-dumping investigations by Australia in relation to imports from Vietnam – a WTO member, Vietnam will be subject to the same assessment process as other WTO members. The recognition is of great significance to the friendship and multifaceted cooperation between Vietnam and Australia and New Zealand, offering new opportunities for these countries to expand their economic and trade ties. It also testifies to the Vietnamese Government’s consistent policy of developing a healthy market economy, meeting international norms. In a statement released the same day, the ASEAN Economic Ministers welcomed the decisions by Australia and New Zealand and asked other ASEAN partners to follow suit. To date, 18 countries have recognised Vietnam’s full market economy status.... [read more]

Part 1: Overcoming barriers in international trade relations In fact, international trade shows that the higher the export growth, the bigger the danger of encountering trade barriers. According to the Competition Administration Department under the Ministry of Industry and Trade (MoIT), in early July, the Directorate-General for Trade at the European Commission (EC) informed Vietnamese agencies that the anti-dumping duty of 34.5 percent the EC imposed on Vietnam's bicycle exports since July 14, 2005 has been abolished as from July 15, 2010. This is thanks to the effective coordination of associations, businesses, the media and state management agencies in collecting information about the difficulties that Vietnam's bicycle industry is facing. They then informed the European anti-dumping investigation agency that it can come to an unbiased and fair conclusion on the incident. This indicates that if there is a close and active coordination by anti-dumping investigation agencies, Vietnamese businesses can overcome trade barriers. The Deputy Head of the Competition Control Department, Vu Ba Phu, said that to cope with investigations on anti-dumping and subsidies, exporting businesses need to cooperate with foreign investigation agencies. Regarding investigations into whether or not Vietnam's PE plastic bags exported to the US market receive subsidies, Mr Phu said two of the investigated companies were foreign and one Vietnamese. From the beginning, Vietnam’s Tien Thinh Company has been a voluntary defendant and worked closely with lawyers. Meanwhile, the two foreign companies have failed to work with investigation agencies and even moved their factories to another country. As…... [read more]

Steel import surplus hits US$2.65 billion The MoIT said that the country’s import-export activities have achieved significant results over the past nine months. Exports increased by 35.4 percent while imports were up 26.9 percent. The import surplus just accounted for 9.8 percent of the total exports, which is lower than the target set by the Government. Although, industrial production rose by 7.8 percent in the review period, it is still facing a number of difficulties, such as rising input costs, a decrease in credit capital and high interest rates for loans. Pham Chi Cuong, President of the Vietnam Steel Association, said steel consumption fell drastically sharply over the past three quarters due to public investment cuts and tightened fiscal policies. To ease their difficulties, businesses accelerated exports, and the sharp rise in export volume and cheap prices has resulted in some countries, including the US, listing Vietnamese steel for anti-dumping investigation. Despite achieving 32 percent growth, the garment and textile sector was also facing numerous difficulties. Textile and garment exports to the US and Europe began to fall due to the debt crisis and economic downturn in these markets. Some businesses expressed their concern that the difficult situation will make US importers reduce their import volume, even for signed contracts. It is forecast that it will be more difficult to export in the remaining months of this year. Deputy Minister of Industry and Trade Le Xuan Quang pointed out some solutions for the sector in the remainder of 2011, including…... [read more]