Memorial complex commemorates late Politburo member

The ribbon-cutting ceremony for the memorial complex

NDO - A memorial complex commemorating late Politburo member and Secretary of the Communist Party of Vietnam Central Committee (CPVCC), Le Duc Tho, was inaugurated in Nam Dinh city's Nam Van commune, Nam Dinh province on October 5 on the occasion of his 103rd birthday (October 10, 1911-2014). Present at the ribbon-cutting ceremony were Le Hong Anh, Politburo member and standing member of the CPVCC's Secretariat; Dinh The Huynh, Politburo member and Head of the CPVCC's Commission for … [Read more...]

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More credit needed to stop closures: experts

HCM CITY (VNS) - Experts have urged the government to set up a centre for credit services for struggling small- and medium-sized enterprises (SMEs). The number of enterprises that have suspended or closed operations in the first seven months of the year was 37,612, an increase of 9.8 per cent year-on-year. Most of the companies that closed were SMEs, according to the General Statistics Office. The number of newly established enterprises totalled 42,398, with total registered capital of … [Read more...]

New artifacts collected for Thang Long Imperial Citadel

Chèn TLHCC Director Nguyen Van Son presents recognition papers to the delegates' relatives.

VGP - The Thang Long-Ha Noi Heritage Conservation Center (TLHCC) has organized a ceremony to receive documents and artifacts from the attendants at the expanded meeting of the Politburo of the Party Central Committee held at D67 House and Tunnel in Thang Long Imperial Citadel from December 18, 1974 to January 8, 1975. The ceremony saw the presence of families of 18 attendants, including Truong Chinh, Pham Van Dong, Le Duc Tho, Vo Nguyen Giap, Nguyen Duy Trinh, Le Van Luong, Le Thanh Nghi, Van … [Read more...]

VietinBank to sell VND1.5-trillion of bad debt to VAMC

Hong Phuc VietinBank is the last among the four State-owned banks to sell debt to VAMC. The other three are Agribank, BIDV and Vietcombank. Pham Huy Hung, who used to serve as a leader at VietinBank for over 25 years, once said that VietinBank had no plans to sell bad debt as it would settle it on its own. The situation has been different after Hung's retirement. Le Duc Tho, new general director of the bank, recently told the Daily that selling debt to VAMC is a good move. As the economic … [Read more...]

State capital’s representatives at banks – who are they?

Though the State has equitized most of its banks, it continues to hold controlling stakes them. The state's capital at the institutions is managed by its representatives - in most cases, officials from the State Bank of Vietnam.

VietNamNet Bridge - Individuals who represent the state's capital at commercial banks are also officials working for state management agencies. This practice is causing concern among those who believe it to create unfair competition among banks. In general, the State Bank dispatches more than one official to each commercial bank. Each official is responsible for a certain percentage of the state's capital. This allows for dispersing risk, as power is not concentrated in anyone individual, and … [Read more...]

Vietnam retailers charge card users despite central bank prohibition

The State Bank of Vietnam imposed a strict regulation on May 13 that imposes hefty fines on retailers who charge additional fees on credit card transactions. PHOTO COURTESY OF TUOI TRE.

On Thursday afternoon, Minh Dung went to a cell phone shop on Le Van Sy street in Ho Chi Minh City's District 3, looking for a mobile phone. He chose an iPhone priced at VND 14.5 millions (US$686). … [Read more...]

Vietnamese people applaud PM Nguyen Tan Dung’s speech at the ASEAN Summit

(VOVworld) - The people of Da Nang liked Prime Minister Nguyen Tan Dung's speech at the 2014 ASEAN Summit. Ngo Tuan Anh, a lecturer at Da Nang University said: "The speech was frank and reflected the stance of the Vietnamese state in resolving disputes in the East Sea. It called on the international community to pay attention to this issue and pointed out China's wrongdoing. It also expresses the hope that international friends will criticize China's move and demand that China withdraw its … [Read more...]

Vietnamese people continue to protest China’s violation of Vietnam’s sovereignty

Vietnamese people march in Japan to protest China's violation of Vietnam's sovereignty

(VOVworld) - The people of Da Nang have agreed with Prime Minister Nguyen Tan Dung's speech at the 2014 ASEAN Summit. Ngo Tuan Anh, a lecturer at the Da Nang University says: "The speech is frank, reflecting the stance of the Vietnamese state in resolving disputes in the East Sea. It calls on the international community to pay attention to this issue and points out China's wrongdoings. It also expresses the hope that international friends will criticize China's move and demand that China … [Read more...]

Reunification Day

The liberation army on a street of Saigon

VGP - In the hearts and minds of Vietnamese people, April 30, 1975 holds a special place as it marks the ending of the Viet Nam War and the national reunification. At the end of March 1973, comrade Le Duc Tho came from the North to the South and joined comrade Pham Hung and General Van Tien Dung to direct the Ho Chi Minh Campaign on behalf of the Politburo An American fighter was shot down in Sai Gon Hubert Van Es' "Fall of Saigon" Photograph (April 29, 1975) A tank of the liberation … [Read more...]

Vietnam to cut refinance rate to 6.5 pct to support GDP growth

Vietnam will cut its refinance rate and other policy rates as the government tries to support businesses and bolster a struggling economy. Stocks rose.

The refinancing rate will be lowered to 6.5 percent from 7 percent from March 18, said Le Duc Tho, chief administrator at the State Bank of Vietnam. The monetary authority will make an announcement on cuts to "some other" policy interest rates later today, Tho said by phone in Hanoi. Policy makers are trying to bolster an economy that the World Bank estimates will grow 5.4 percent this year, slower than a government target of 5.8 percent. Prime Minister Nguyen Tan Dung last month asked the … [Read more...]