Khanh Hoa Veterans’ Association welcomes Lao veterans

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PANO - A delegation of the Lao National War Veterans’ Association, led by Colonel Amphayvong Vitachit, Head of the Central Economic Board of the Association, paid a visit to the Khanh Hoa Provincial Veterans’ Association on August 7th. Previously, the Lao delegation visited historical relic sites and tourist areas in Nha Trang. … [Read more...]

Vietnam – Laos bilateral trade: US$2 billion by 2015.

President of the Confederation of the Overseas Vietnamese Associations in Laos Hoang Dieu on February 17 handed over US$50,000 as a gift to the Lao National War Veteran Association.(Photo VOV)

The target was planned at a meeting between Vietnamese Deputy Minister of Industry and Trade Nguyen Thanh Bien and his Lao counter part Khemmani Pholsena, in the Lao capital city of Vientiane yesterday (August 5th). According to the memoir, the two sides agreed to boost coordination with relevant ministries and branches to organize trade fairs in Laos in 2011 and the coming years. The two countries' businesses also contact regularly through seminars and conferences. They will continue granting tax incentives to their businesses and consider the expansion of the list of goods benefiting from tax incentives and implement projects on border trade development. In 2010, two-way trade between Vietnam and Laos reached US$490 million , up 17.2 percent over 2009. In the first half of this year, the figure stood at US$349.8 million, a year-on-year increase of 65.8 percent. … [Read more...]

Vietnam-Laos friendship enhanced

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President of the Confederation of the Overseas Vietnamese Associations in Laos Hoang Dieu on February 17 handed over US$50,000 as a gift to the Lao National War Veteran Association. The sum was contributed by Le Van Kiem, CEO of the Long Thanh Golf Investment and Business Joint Stock Company, who used to be a Vietnamese volunteer soldier in Laos during the past war. The money will be used to buy equipment for the Lao National War Veteran Association's sanatorium and build houses for some of its members. Earlier, Kiem donated US$100,000 to the construction of a cemetery in Vientiane province for 24 Vietnamese and Lao martyrs, who died in 1946 in Laos. Construction of the cemetery worth US$160,000 is almost completed. On February 16, Nguyen Trong Duc, Director of the 705 International Cooperation Company, handed over 33 billion Lao kips (over US$4 million) as non-refundable aid from Ho Chi Minh City to Houaphanh province of Laos. The donation will be used to build new … [Read more...]

Victory of Nui Thanh celebrated

Deputy Prime Minister Nguyen Xuan Phuc delivers a speech at the 50th anniversary of the Nui Thanh Victory in Quang Nam Province, May 26. 2015.

(VOVworld) – Deputy Prime Minister Nguyen Xuan Phuc attended a ceremony on Monday in Quang Nam province celebrating the 50th anniversary of the Nui Thanh Victory. Early on May 26, 1965, army soldiers and a militia of Quang Nam province attacked and captured a key US military post on Nui Thanh Hill. It was the first victory by the Vietnamese People’s Army against US troops on the southern front, paving the way for bankrupting the US war strategy in Vietnam. Today, the Chu Lai Open Economic Zone in Nui Thanh district has become an attractive destination for investors. Chu Lai airport has been a driving force for Quang Nam’s economic development. Addressing the ceremony, Deputy PM Phuc said: "We’re proud to review the glorious tradition of the Quang Nam Army and people in the Nui Thanh Victory 50 years ago which inspired a determination to overcome all difficulties and accomplish all set tasks. I call on the provincial Party Committee, authorities, and … [Read more...]

NA debates socio-economic tasks in 2015

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(VOVworld)- The 9th session of the 13th National Assembly focused on ways to complete socio-economic tasks set for 2015. Despite some positive changes, Vietnam faces numerous difficulties and challenges demanding that the whole political system, Party, people and army unite to reach the targets. According to a government report presented at the National Assembly, positive changes were reported in the early months of this year. CPI in the first four months increased just 0.04%, the lowest in several years. Total export value rose 8.2% while implemented FDI capital was up 5%, reaching a total of 4.2 billion USD. Vietnam has signed one Free Trade Agreement and is expected to sign another FTA with the Asia-Europe Union. Vietnam is negotiating FTAs with several other partners. Improving investment environment, supporting business and production The National Assembly tasked the government with continuing to improve Vietnam’s investment environment and solving problems for business … [Read more...]

Social News 22/5

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Jetstar Pacific offers 7,000 cheap tickets Budget airline Jetstar Pacific will offer 7,000 tickets at only VND7,000 a ticket on its international and domestic routes, from 11am to 12:59pm on July 22. Tickets (excluding tax and other additional fees) are available on the airline’s website at www.jetstar.com. The promotion is being launched to celebrate Jetstar Pacific’s seventh anniversary. The airline will also kick off two other promotions from May 27: "Everyday Low Fare" and "Super Promotion Weekend". Vietnam Airlines started selling Jetstar Pacific’s tickets on its ticket booking system as of May 21. The co-operation between Vietnam Airlines and Jetstar Pacific aims to offer the best service to passengers. General Director of Jetstar Pacific Le Hong Ha has expressed his hope that Jetstar Pacific can change passengers’ experience of using a budget airline. Mekong Delta province prosecute 40 for cigarette smuggling Authorities in the Mekong Delta's … [Read more...]

Gov’t report: GDP growth high despite oil price volatility

Despite concerns over the negative impact of the world oil price plunge, gross domestic product (GDP) growth last year and in the first quarter was higher than targeted. Last year’s GDP expansion was 5.98%, well above the 5.42% in 2013 and the 5.25% in 2012, according to the Government’s updated report on 2014 socio-economic development presented by Deputy Prime Minister Nguyen Xuan Phuc at the opening of the ninth session of the 13th National Assembly (NA) in Hanoi yesterday. There were grave concerns that declining oil prices on global markets would hit budget collections, exports and the country’s economic growth. But budget revenue was still ensured that year. According to the Government’s report, revenue from crude oil reached VND100 trillion last year, or VND14.88 trillion (17.5%) higher than the target but nearly VND7 trillion lower than the figure reported to the NA. The reason was the world oil price dropped sharply in the final quarter of last … [Read more...]

Foreign investors make Vietnam’s economy bigger, but not stronger: legislators

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Traffic drives past commercial buildings in Hanoi, Vietnam. Photo: Bloomberg Foreign investors have contributed a lot to Vietnam's economy, but at the same time they have done very little to help the country in terms of technology, legislators said Wednesday. Nguyen Van Giau, chairman of the National Assembly’s Economic Committee said that the foreign direct investment (FDI) sector has accounted for 65-67 percent of Vietnam’s total export revenues in recent years. In 2014, the sector saw a trade surplus of $6.1 billion, creating an ample foreign currency supply for the country, and making contribution to macroeconomic stabilization, Giau told other legislators at the opening session of the national legislature on Wednesday. Vietnam saw a total FDI disbursement of $4.2 billion between January and April, up 5 percent from the same period last year, according to the Ministry of Planning and Investment. However, new pledges in the first four months fell 17.1 percent from a … [Read more...]

GDP sees biggest increase in five years as NA’s ninth session opens

An overview of the opening ceremony of the 13 th National Assembly's ninth session in Ha Noi yesterday. — VNA/VNS Photo Phuong Hoa

Gross Domestic Product (GDP) rose by 6.03 per cent in the first quarter of this year, the highest level in five years, the National Assembly was told yesterday on the first day of its ninth session. However, delegates were told socio-economic development had been handicapped by the search for new markets for farm products, environmental pollution and the quality of labour force. The NA Chairman Nguyen Sinh Hung confirmed the stability of the macro-economy, and the maintenance of low inflation and social security. He said bilateral and multilateral relations had been strengthened, especially during the 132nd Inter-Parliamentary Union Assembly. Deputy Prime Minister Nguyen Xuan Phuc reported that the Consumer Price Index (CPI) in the first four months rose by 0.04 per cent compared with the same period last year. Export turnover surged 8.2 per cent. The index of industrial production grew by 9.4 per cent year-on-year in the same period. Many important traffic projects have been … [Read more...]

Deputy PM: Foundation in place to achieve 6.2% growth target

Vietnam enjoyed an encouraging socio-economic performance in 2014 and the first few months of 2015, creating a foundation for the country to achieve its 6.2% economic growth target this year, read a report delivered at the opening session of the 13th National Assembly (NA)’s ninth sitting on May 20. The Government’s supplementary report on the implementation of socio-economic development and State budget plans was presented by Deputy Prime Minister Nguyen Xuan Phuc, who said 13 out of the 14 key targets for 2014 were fulfilled or exceeded. The one target missed was for the rate of trained workers. The GDP growth of 5.98% last year, the highest since 2011, surpassed the set target while the CPI expansion was at a record low of 1.84%. Export turnover rose by 13.7%, helping the country see a trade surplus of US$2.1 billion in 2014, the third year of surplus in a row, the official said, adding that Vietnam succeeded in stabilising exchange rates and reducing bad debt. … [Read more...]

Vietnam-Laos: A special relationship

Vietnamese Deputy Prime Minister Nguyen Xuan Phuc (R) and General Sisavath Keobounphanh, former Prime Minister of Laos. Photo: chinhphu.vn

PANO – Deputy Prime Minister Nguyen Xuan Phuc on May 19th received the visiting General Sisavath Keobounphanh, former Prime Minister of Laos. The Vietnamese Deputy Prime Minister stressed that the Party, State and people of Vietnam have always highly valued the special relationship and comprehensive cooperation with Laos, and believed that under the leadership of the Lao People’s Revolutionary Party, the country would earn greater achievements to build Laos into a country of peace, independence, democracy, and prosperity. For his part, General Sisavath Keobounphanh believed that Vietnam would steadily develop under the leadership of the Communist Party of Vietnam. He stressed that Laos and Vietnam should promote delegation exchange, cooperation, and experience sharing in all fields, so as to effectively implement agreements reached by leaders of the parties and governments of the two countries. Translated by Huu Duong … [Read more...]

Deputy Prime Minister: Foundation in place to achieve 6.2 percent growth target

Deputy PM Nguyen Xuan Phuc reading the report at the opening session of the 13th National Assembly's ninth sitting

Vietnam enjoyed an encouraging socio-economic performance in 2014 and the first few months of 2015, creating a foundation for the country to achieve its 6.2 percent economic growth target this year, read a report delivered at the opening session of the 13th National Assembly (NA)’s ninth sitting on May 20. The Government’s supplementary report on the implementation of socio-economic development and State budget plans was presented by Deputy Prime Minister Nguyen Xuan Phuc, who said 13 out of the 14 key targets for 2014 were fulfilled or exceeded. The one target missed was for the rate of trained workers. The GDP growth of 5.98 percent last year, the highest since 2011, surpassed the set target while the CPI expansion was at a record low of 1.84 percent. Export turnover rose by 13.7 percent, helping the country see a trade surplus of 2.1 billion USD in 2014, the third year of surplus in a row, the official said, adding that Vietnam succeeded in stabilising exchange … [Read more...]

National Assembly convenes 9th sitting

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(VOVworld) – The ninth sitting of the 13th National Assembly (NA) opened in Hanoi on Wednesday, seeking ways to implement the 2013 Constitution and inspect key national socio-economic issues. Attending the opening session were Party General Secretary Nguyen Phu Trong, State President Truong Tan Sang, Prime Minister Nguyen Tan Dung, NA Chairman Nguyen Sinh Hung, former leaders, and representatives from international organizations. Top legislator Nguyen Sinh Hung highlighted the importance of the sitting which will review Vietnam’s recent development, from economics and social affairs to defense, security, external and judicial matters while defining urgent tasks to be fulfilled this year. He said: "Eleven draft laws are expected to be approved and 16 others will be scrutinized during this meeting in a bid to implement the 2013 Constitution more effectively. Among the bills set to be approved, some are on the organization and functions of administrative agencies at … [Read more...]

Vietnam aims at greater socio-economic growth

Deputy Prime Minister Nguyen Xuan Phuc delivered the government supplementary report at the9th session of the 13th National Assembly   (photo: VGP)

(VOVworld) – The government’s supplementary report on socio-economic development in 2014 and the situation since the beginning of this year said all set targets have been fulfilled. The report, delivered by Deputy Prime Minister Nguyen Xuan Phuc at the 9th session of the 13th National Assembly which opened on May 20, also identified the government’s principal tasks in the remaining months of this year to ensure better and more sustainable socio-economic outcomes than last year. VOV has some excerpts from the report: Last year’s socio-economic targets attained The report showed that Vietnam attained almost all the socio-economic targets set for 2014. Of 14 key criteria, 13 criteria were fulfilled and 1 criterion on the rate of trained workers was nearly reached. Deputy Prime Minister Phuc said: "Last year’s GDP growth was 5.98%, which was higher than the set target and the highest rate since 2011.The macro-economy was stable with the CPI increasing … [Read more...]

Deputy PM: Foundation in place to achieve 6.2 percent growth target

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Deputy Prime Minister Nguyen Xuan Phuc delivers the report (Photo: VNA) Vietnam enjoyed an encouraging socio-economic performance in 2014 and the first few months of 2015, creating a foundation for the country to achieve its 6.2 percent economic growth target this year, read a report delivered at the opening session of the 13th National Assembly (NA)’s ninth sitting on May 20. The Government’s supplementary report on the implementation of socio-economic development and State budget plans was presented by Deputy Prime Minister Nguyen Xuan Phuc, who said 13 out of the 14 key targets for 2014 were fulfilled or exceeded. The one target missed was for the rate of trained workers. The GDP growth of 5.98 percent last year, the highest since 2011, surpassed the set target while the CPI expansion was at a record low of 1.84 percent. Export turnover rose by 13.7 percent, helping the country see a trade surplus of 2.1 billion USD in 2014, the third year of surplus in a row, the … [Read more...]

Vietnam traffic fatalities down nationwide

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(VOV) - Traffic deaths totalled less than 9,000 in 2014 with a concurrent decline in the total number of reported crashes, according to a recent National Traffic Safety Committee (NTSC) report. Deputy Prime Minister Nguyen Xuan Phuc made the details of the report public on May 20 at the opening ceremony for the 9th plenary session of the 13th National Assembly (NA) in Hanoi. "We made significant progress in reducing traffic accidents and fatalities in 2014 compared to the previous year," Phuc said, noting especially high reductions during the Lunar New Year holiday. Last year, the number of reported traffic accidents dropped 13.8% to 25,322 resulting in a contemporaneous decrease in traffic deaths of 4% to 8,996, while the number of serious injuries fell 17.2% to 24,417. Phuc also revealed that in the four months leading up to May this year the number of people killed in traffic accidents dipped 4.6% compared to the corresponding period in 2014 with an accompanying decrease in … [Read more...]

President Sang chairs 20th session on judicial reform

Delegates discuss two schemes on allocation of the State budget for the Supreme People’s Court and the Supreme People’s Procuracy.

NDO - The Central Steering Committee for Judicial Reform (CSCJR) convened the 20th session in Hanoi on May 19 under the chairmanship of Politburo member and State President Truong Tan Sang to comment and give feedback on two schemes on allocation of the State budget for the Supreme People’s Court and the Supreme People’s Procuracy. The session saw the presence of Politburo member and Deputy Prime Minister Nguyen Xuan Phuc, Party Central Committee’s member and Deputy Head of the CSCJR, representatives from central agencies and ministries and the committee’s members. Adressing the session, President Sang praised preparations for the schemes despite several limitations regarding the improvement of current regulations on allocating, managing and using the State budget and suggesting specific solutions to build new regulations. He stressed that the schemes’ construction should be renewed in accordance with the 2013 Constitution, laws adopted by the National … [Read more...]

Vietnam’s bad debt ratio eases to 3.59 pct in Feb

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Bad debts in Vietnam's banking system eased to 3.59 percent of loans in February 2015, the government said on Wednesday, from 4.75 percent the previous month. The lower bad debt ratio followed the restructuring of several banks and improved liquidity, Deputy Prime Minister Nguyen Xuan Phuc cited State Bank of Vietnam (SBV) data in his speech at the opening session of the National Assembly. Phuc did not give the total value of the debt. Vietnam is recovering from a toxic debt headache and real estate slump caused by unrestrained lending and costly investments by state-run firms in non-core areas. Its non performing loans ratios have been among Asia's highest. The SBV has allowed banks to increase credit growth and approved five mergers and acquisitions so far this year, with aims to cut the NPLs ratio to below 3 percent by the end of 2015. The banking sector posted credit growth of 3.97 percent in the first four months of 2015, up from a rise of 0.53 percent in the same period last … [Read more...]

Deputy PM meets with former Lao leader

Deputy Prime Minister Nguyen Xuan Phuc hosted a reception in Hanoi on May 19 for former Lao Prime Minister Sisavath Keobounphan during his visit to Vietnam. The Vietnamese official said his country treasures its time-honoured relations and comprehensive cooperation with Laos. He voiced his belief that under the leadership of the Lao People’s Revolutionary Party, the country’s people would build a nation of peace, independence, democracy and prosperity. General Sisavath Keobounphan said he expects substantial strides in Vietnam’s national development under the leadership of the Communist Party of Vietnam. He suggested both countries increase senior leader visits and exchanges of Party building experience. Their localities need to bolster cooperation in defence, security, economics, education and culture while continuing to implement agreements between the two Parties and Governments in a results-oriented manner, he noted.-VNA … [Read more...]