Gov’t aims to reduce public debt

VietNamNet Bridge – Finance Minister Dinh Tien Dung told Ha Noi Moi (New Ha Noi) that achieving equitisation targets for State-owned enterprises and alleviating debt would be high priorities this year.Public debt is one of the issues that attracted the special attention of the public in 2014. What will the financial sector do to control the debt, thereby ensuring national financial security in 2015? Public debt is not only an issue of the National Assembly and the Government; the people are also very interested. Success has been achieved in the management of public debt, such as ensuring essential capital for development investment, job creation and poverty reduction. However, there are still some problems in debt management such as high public debt levels, risks of liquidity and difficulty in debt payment of some State projects. To strengthen public debt management and debt control, thereby ensuring national financial security, the ministry has proposed to the Prime Minister … [Read more...]

Vietnam sex worker gets 2 years for stealing from foreigner

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A Vietnam court has sentenced a woman to two years in prison for stealing assets including a luxury wristwatch, a cellphone, and cash from a foreign man after having sex with him in August last year, local media said. >> Ship captain held for stealing from foreign visitor in Vietnam's Ha Long Bay Tran Thi Thuy Trang, 35, a sex worker in Ho Chi Minh City, received the sentence on charges of stealing property at her trial opened by the municipal People’s Court on Thursday. According to the indictment, Trang often sought potential foreign customers at bars and restaurants in an area covering such streets as Bui Vien, Pham Ngu Lao, and De Tham in Pham Ngu Lao Ward in District 1. Local residents usually call this area the "Westerner’s zone" or "backpacker area" as it has long been home to a community of foreigners who visit the city. At 3:00 am on August 1, 2014, Robert John S., a 72-year-old man of Papua New Guinea nationality, was drinking beer at a bar on Bui … [Read more...]

Credit sector to witness a boom in 2015

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VietNamNet Bridge - Commercial banks have shown determination to increase lending in 2015, while businesses are believed to have better conditions to apply for loans. The information is "good news" in the eyes of economists. The recovery of Truong Thanh and others means that Vietnamese businesses will need capital to resume and expand their production, and they have become more eligible for bank loans. A recently released report by the Central Institute of Economic Management (CIEM) predicted a brighter prospect for Vietnam’s economy in 2015, which could be why businesses think that it is now the right time to borrow money after a long period of high lending interest rates. Commercial banks have eased lending interest rates over the last three consecutive years. A report by the State Bank showed that the bank loan interest rate in 2014 decreased by 1.5-2 percentage points compared with 2013 to rates lower than those in 2005-2006. Meanwhile, the State Bank in January 2015 … [Read more...]

American doctor made honorary citizen of Hanoi

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Hanoi Vice Chairman Le Hong Son confers the title of honorary citizen on American Professor Payam Nahid (L) on Wednesday. Photo credit: Ha Noi Moi Authorities in Hanoi on Wednesday awarded the honorary citizen title to an American doctor who has made great contributions to the capital city. Payam Nahid, a doctor of San Francisco General Hospital and Trauma Center, has developed a system for detecting and treating pulmonary tuberculosis which is applied at several local medical centers, including the National Lung Hospital in Hanoi. Nahid, who has worked in Vietnam since 2008, also donated a lot of health equipment to local clinics worth around US$300,000 in total. At the award ceremony, Le Hong Son, Hanoi' vice mayor, praised Nahid for his support for Vietnam's healthcare, asking the American doctor to continue his meaningful work in the city. Nahid is the first, among 12 expats, to be granted honorary citizenship by the city this year. The honor is symbolic and honorary citizens … [Read more...]

Venezuelan Vice President examines Hanoi agricultural models

Venezuelan Vice President Elias Jose Jaua Milano led a delegation to see rice farming and new-style rural area building models first-hand in Hanoi’s outlying Dan Phuong district on March 12 as part of his Vietnam tour. The Vice President lauded local attainments in agriculture and new-style rural area construction, particularly its scientific basis and creativity, reported the Ha Noi Moi daily. Through this visit, the delegation learned valuable experience in organising production activities and improving residents’ livelihoods, he said, adding that Venezuela has advantages in oil and gas production but that its agricultural production is still modest. Milano expressed his hope that similar agricultural models will appear in Venezuela in the near future. Dan Phuong is Hanoi’s leading district in the new-style rural area building programme, initiated by the Vietnamese Government in 2010 to boost rural development. Over the past four years, the district has … [Read more...]

Social News 28/2

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Route connecting Ky Sa Port and Ly Son Island opened The Ministry of Transport announced its plan to open a mixed river-sea route connecting the Ky Sa port and Ly Son Island in central Quang Ngai province on February 26. Vessels operating on the route must be river-sea compatible ships (VR-SB) under the National Technical Regulation on the Rule of Inland-Waterway Ships Classification and Construction. In addition, vessel crew members are required to have professional competence qualifications. Ly Son district lies 18 nautical miles off the Vietnamese coast and covers an area of 10km2. It includes three communes: An Hai, An Vinh and An Binh. The island district has a population of approximately 2,100. The majority of residents earn a living from fishing and farming garlics and spring onions. Ly Son is striving to become a maritime economic centre by 2025, with a focus on tourism and aquaculture. Archaeologists found relics of Sa Huynh culture on the island dating back to 3,000 … [Read more...]

Hai Duong Newspaper awarded A prize at National Spring Press Festival

"The cover of the Hai Duong Newspaper's At Mui Spring edition is very beautiful and meaningful," assessed Standing Vice Chairman of the Vietnam Journalists Association Ha Minh Hue.

The Festival Organizing Board has awarded an A prize to the beautiful cover of the Hai Duong Newspaper's Spring edition. The Organizing Board of the 2015 At Mui Spring Press Festival on February 10 awarded an A prize, the highest one, to the beautiful cover of the Hai Duong Newspaper's Spring edition. "The cover of the Hai Duong Newspaper's At Mui Spring edition is very beautiful and meaningful," assessed Standing Vice Chairman of the Vietnam Journalists Association Ha Minh Hue. Also receiving A prizes were nine other newspapers of Nhan Dan (People), Quan Doi Nhan Dan (People's Army), Dai Doan Ket (Great Unity), Cong Thuong (Industry and Trade), Nong Thon Ngay Nay (Countryside Today), Ha Noi Moi (New Ha Noi), Sai Gon Giai Phong (Liberated Sai Gon), Ho Chi Minh City Youth, and Ca Mau. The Organizing Board also awarded 28 B prizes and 37 C prizes to other beautiful Spring edition covers. Regarding beautiful display booths, two special prizes were awarded to the Vietnam Press … [Read more...]

Press digest – February 5

PM chairs teleconference on sustainable poverty reduction PM Nguyen Tan Dung chaired a national teleconference on sustainable poverty reductionto review the work in 2014 and devise a plan for 2015 for the Central Steering Committee on Sustainable Poverty Reduction (CSCR) in the 2011-2020 period. In 2015, the CSCR will strive to reduce the rate of poor households nationwide below 5% and 30% in disadvantaged districts. The targeted rate of poor households in the 2016-2020 period is 1-1.5% per year nationwide and 3-4% per year in disadvantaged districts and communes. Disadvantaged people will have better access to social services and incomes of poor households in the 2016-2020 period are expected to be doubled compared to 2015. Businesses can become strategic investors in Viet Nam: DPM Deputy PM Vu Van Ninh has stressed that such businesses as the AIA Group can become strategic or finance investors in Viet Nam when the country has great demand for infrastructure development through … [Read more...]

Funds not wasted: Hanoi authorities

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A Ha Noi Transport Department official denied a report in Ha Noi Moi (New Ha Noi) newspaper that the department wasted VND24 billion (US$120,000) on removing concrete dividers from streets. Nguyen Xuan Tan, the department's vice director, affirmed that all the median strips would be used again on other streets. "The removed median strips will be prioritised for use on streets that are crowded and are wide enough to install them," Tan said, adding that the use of median strips was one of the city's seven solutions to traffic congestion and that its positive impact had been recognised by the Government and the National Traffic Safety Committee. Tan also said that median strips played a role in shaping the public's driving habits. Before 2010 when median strips were built on Hue, Hang Bai and Ba Trieu streets, traffic congestion and fatal traffic accidents were reported annually, but none were seen after that, he said. Tan went further to say on the online newspaper Vnexpress: … [Read more...]

Social News 30/1

Canadian man arrested for drug Customs officials at the Tan Son Nhat International Airport in Ho Chi Minh City January 28 released that they arrested a Canadian man for drug trafficking. He was found hiding nearly 50,000 tablets of methamphetamine at the bottom of his suitcases when he was checked upon arriving in the country. The drug is estimated to sell for over VND20 billion (US$952,000) in the Vietnamese market. Project launched to support high-quality vocational training in Vietnam The British Council will co-ordinate with the General Directorate of Vocational Training (GDVT) to implement a programme starting this March to improve the quality of vocational training at nine high-quality vocational training colleges across Vietnam. The above goal is part of the content of a Memorandum of Understanding signed between the two sides in Hanoi on January 28, aiming to develop vocational training quality assurance in vocational training facilities in Vietnam that are being … [Read more...]

VN lags behind in R&D growth

VietNamNet Bridge – R&D firms need sound business strategies and more skilled researchers to overcome current challenges, Pham Hong Quat, an official with the Ministry of Science and Technology, tells Ha Noi Moi (New Ha Noi).As of November, 132 R&D enterprises were licenced in Viet Nam. How have these companies been developing? For R&D enterprises, researching and developing science and technology is a must. To do this, most of them focus on investing in infrastructure and human resource training. They must also create a special unit for R&D and applying new technologies in production. There are many successful models in this field with high turnover and profits, such as Viet Nam National Seed Joint Stock Company, Southern Seed Company, ACH Construction Consulting Company and Thien Duoc Company. According to reports from 63 science and technology departments nationwide, no R&D enterprises have been dissolved since the beginning of the year. They have … [Read more...]

Gov’t car buying should be curbed

Public debt and waste in public spending have become a hot topic in Viet Nam these days. Do you think it is time for stricter controls on public spending?

Viet Nam must practice thrift and fight waste, Le Hong Son, director general of the Bureau of Legal Nominative Documents Post Review under the Ministry of Justice, told Ha Noi Moi (New Ha Noi). Our budgetary and financial situation is already in the red. So public spending, particularly public procurement, has to be looked at. And when we talk about public procurement, we cannot fail to mention the buying of luxurious cars by many government offices. I feel it is high time Viet Nam put a cap on buying cars by government offices. If this is doe, we can save a huge sum of money for other important activities. So you are suggesting a policy specifically targeting the purchase and use of cars by public officials? There are more than 37,000 public cars nation-wide, excluding those belonging to the armed forces or State-owned enterprises. In 2013 alone, nearly 1,500 cars were bought for VND1,400 billion ($66.6 million). The number of new cars bought is important, but it is perhaps more … [Read more...]

Vietnam aims to foster space technology

Vietnam hopes to lead ASEAN in satellite development in the coming decades, Dr. Pham Anh Tuan, Director of the Vietnam Satellite Centre, told the Ha Noi Moi (New Hanoi) newspaper. *Will the Vietnam Satellite Centre (VNSC) function like USA's NASA or Japan's JAXA when its construction is completed? The Vietnam Academy of Science and Technology (VAST) thought of establishing the VNSC in 2007 after the Prime Minister approved a national research and development for space technology. Work on the centre is underway at the Lang Hoa Lac Hi-Tech Park, some 40km from Hanoi. Fund for the centre's construction comes from two main sources: Japanese ODA (over 600 million USD) and government's counterpart contribution. The centre is expected to open in 2020 as scheduled. … [Read more...]

VN aims to advance satellite, space technology

Viet Nam hopes to lead ASEAN in satellite development in the coming decades, Dr Pham Anh Tuan, director of the Viet Nam Satellite Centre, told the Ha Noi Moi (New Ha Noi) newspaper. Will the Viet Nam Satellite Centre (VNSC) function like USA's NASA or Japan's JAXA when its construction is completed? The Viet Nam Academy of Science and Technology (VAST) thought of establishing the VNSC in 2007 after the Prime Minister approved a national research and development for space technology. Work on the centre is underway at the Lang Hoa Lac Hi-Tech Park, some 40km from Ha Noi. Funds for the centre's construction comes from two main sources: Japanese ODA (over US$600 million) and government's counterpart contribution. We expect the centre to open in 2020 as scheduled. … [Read more...]

Ha Noi road plan to be reviewed

HA NOI (VNS)- A 1.5km road connecting Nguyen Van Cu Street in Ha Noi's Long Bien District to the left bank of the Red River would waste millions of dollars if built according to plan, Viet Nam Television reported on Wednesday. Local citizens said the project was designed to cross over a residential area in a U-shape instead of cutting through a patch of nearby agricultural land, even though the latter plan would save the State millions of dollars in compensation and relocation costs. "Moving one household costs between US$100,000 and US$250,000. Moving a hundred households would cost the State millions of dollars," said local resident Vo Van Ba. … [Read more...]

SMEs continue to struggle in improving economy

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VietNamNet Bridge - Small- and medium-sized enterprises (SMEs) still face "special difficulties" even though the national economy has improved in the last 10 months, according to a National Finance Supervisory Council's report submitted to the government. … [Read more...]

Policies need to be put into practice

Cao Si Kiem, president of the Viet Nam Small and Medium Enterprises Association, talks to Ha Noi Moi (New Ha Noi) newspaper about incentive policies Some reports say that the Government's policy to support Vietnamese enterprises has had a positive impact on the nation's economic recovery. Would you agree? Generally speaking, there are several factors behind some of the economic successes seen since early 2014: the restructuring of weak banks, helping them avert bankruptcy and reduce the deposit interest rate; stabilisation of the gold market and the exchange rate; and restoring demand-supply balance in foreign currencies. … [Read more...]

Authorities play significant role in ensuring quality helmet production

Hoang Lam, director of the Quality Assurance and Safety Centre (Quatest 3), discusses the importance of the Mandatory Motorcycle Helmet Law with Ha Noi Moi (New Ha Noi) newspaper. Numerous low-quality motorcycle helmets are sold in the market that have quality stamps (CR) from the Quatest 3. What is your response to that? I don't deny that fact. But let me just focus on two factors. First, it is the fake helmets themselves. They don't have the stamps of manufacturing companies but have the CR stamps, or verification stamps that indicate that the helmets conform to regulations. … [Read more...]

E-tickets a must for a modern public transportation system

Smartcards and e-tickets are set to become the norm, Nguyen Hoang Hai, Director of the Ha Noi Urban Transport Management and Operation Centre (TRAMOC) tells the Ha Noi Moi (New Ha Noi) Newspaper. The pilot project on using e-tickets in buses began on October 6. What is the significance of this project? The increase in commuter numbers and bus routes in the capital city indicates a clear need to improve service quality for passengers. It can also be seen that the number of people using monthly tickets accounts for 70 per cent of total commuters. … [Read more...]