Heavy trucks to be banned from 30 streets at rush hour

HA NOI (VNS) — Certain specific vehicles will be banned from entering 30 streets in Ha Noi at three rush-hour slots during the 12th National Congress of the Communist Party of Viet Nam. The congress is scheduled to take place between January 21 and January 28 at the National Convention Centre in Ha Noi. The three rush-hour slots are from 6am to 8:30am, from 11am to 2pm, and from 4pm to 6pm. Trucks with loading capacity of over 500kg, and coaches, will be banned from entering the streets of Pham Hung, Thang Long Boulevard, Do Duc Duc, and Tran Duy Hung, in addition to Nguyen Chi Thanh, Khuat Duy Tien, Nguyen Trai, and Tran Phu. The other streets that have banned access to those vehicles are To Huu, Le Van Luong, Hoang Minh Giam, and Hoang Quoc Viet, in addition to Kim Ma, Lieu Giai, Van Phuc, and Van Bao. Nguyen Thai Hoc, Tay Son, Le Truc, and Tran Phu, along with Hung Vuong, Chu Van An, Hoang Dieu, and Doc Lap, will also not allow access to trucks and coaches. Along with … [Read more...]

Hanoi issues travel ban on 30 streets for Party congress

Hanoi authorities on Wednesday announced that they would ban large vehicles from traveling on more than 30 streets between January 20 and 28, to ensure security for the 12th National Party Congress. The congress is scheduled to take place at the National Convention Center. According to the police, from 6 a.m. to 8:30 a.m., 11 a.m. to 2 p.m. and 4 p.m. to 6 p.m. from January 20-28, trucks carrying 500 kilograms of cargo or more and buses carrying at least 25 passengers will be banned from entering Pham Hung Street and part of Thang Long Boulevard near the center. Other streets included in the ban are Do Duc Duc, Tran Duy Hung, Nguyen Chi Thanh, Khuat Duy Tien, Nguyen Trai, and Tran Phu. The other streets that have banned access to those vehicles are To Huu, Le Van Luong, Hoang Minh Giam, Hoang Quoc Viet, Kim Ma, Lieu Giai, Van Phuc, and Van Bao. Nguyen Thai Hoc, Tay Son, Le Truc, and Tran Phu, along with Hung Vuong, Chu Van An, Hoang Dieu, and Doc Lap, will also not allow access to … [Read more...]

Public express beliefs in the success of upcoming Party Congress

Party leader Nguyen Phu Trong speaks at the closing ceremony. (Photo: VNA)

(VOVworld) - The 14th plenum of the 11th Party Central Committee closed in Hanoi on Wednesday. After three days of working, members of the Party Central Committee reached consensus on the signing and ratification of the Trans-pacific Partnership Agreement, continuing to complete personnel preparations for the 12th National Party Congress and a list of nominations for key leadership posts of the Party and State of the 12th tenure. The Central Committee generally agreed with the Politburo’s proposal on the tentative lists of the Presidium, the Secretarial Delegation, and the Commission for Investigating Eligibility of delegates attending the 12th Party Congress. Party leader Nguyen Phu Trong delivered a key note at the closing ceremony affirming that the meeting was a success and completed preparations for the 12th National Party Congress as scheduled. The plenum continued to receive great attention from the public nationwide. Nguyen Thanh Ly from Buon Ma Thuot City, Dak Lak … [Read more...]

Trucks, coaches banned from 30 Hanoi streets

A traffic police is on duty in a street of Ha Noi. — Photo hanoimoi.com.vn

Certain specific vehicles will be banned from entering 30 streets in Ha Noi at three rush-hour slots during the 12th National Congress of the Communist Party of Viet Nam. The congress is scheduled to take place between January 21 and January 28 at the National Convention Centre in Ha Noi. The three rush-hour slots are from 6am to 8:30am, from 11am to 2pm, and from 4pm to 6pm. Trucks with loading capacity of over 500 kilogrammes, and coaches, will be banned from entering the streets of Pham Hung, Thang Long Boulevard, Do Duc Duc, and Tran Duy Hung, in addition to Nguyen Chi Thanh, Khuat Duy Tien, Nguyen Trai, and Tran Phu. The other streets that have banned access to those vehicles are To Huu, Le Van Luong, Hoang Minh Giam, and Hoang Quoc Viet, in addition to Kim Ma, Lieu Giai, Van Phuc, and Van Bao. Nguyen Thai Hoc, Tay Son, Le Truc, and Tran Phu, along with Hung Vuong, Chu Van An, Hoang Dieu, and Doc Lap, will also not allow access to trucks and coaches. Along with those … [Read more...]

Trucks, coaches banned from 30 streets

A traffic police is on duty in a street of Ha Noi. — Photo hanoimoi.com.vn

Party Central Committee to finalise 12th Congress preparationsMore young people will be in the Party Central Committee HA NOI (VNS) — Certain specific vehicles will be banned from entering 30 streets in Ha Noi at three rush-hour slots during the 12th National Congress of the Communist Party of Viet Nam. The congress is scheduled to take place between January 21 and January 28 at the National Convention Centre in Ha Noi. The three rush-hour slots are from 6am to 8:30am, from 11am to 2pm, and from 4pm to 6pm. Trucks with loading capacity of over 500 kilogrammes, and coaches, will be banned from entering the streets of Pham Hung, Thang Long Boulevard, Do Duc Duc, and Tran Duy Hung, in addition to Nguyen Chi Thanh, Khuat Duy Tien, Nguyen Trai, and Tran Phu. The other streets that have banned access to those vehicles are To Huu, Le Van Luong, Hoang Minh Giam, and Hoang Quoc Viet, in addition to Kim Ma, Lieu Giai, Van Phuc, and Van Bao. Nguyen Thai Hoc, Tay Son, Le Truc, and … [Read more...]

Flexible fx rate mechanism stabilises market

Le Duc Tho,

On Monday, the State Bank of Viet Nam (SBV) began applying a daily-adjusted "central rate" instead of maintaining a fixed reference rate for a long period of time. This was the first time the central bank had done so and Le Duc Tho, General Director of the Viet Nam Bank for Industry and Trade (VietinBank), talked to Vietnam News Agency reporter Thuy Ha about the change. What is the difference between the new central rate and the old one? The central rate is defined based on three factors: average exchange rate moves in the inter-bank foreign currency market; exchange rate developments related to the currencies of countries that are involved in Viet Nam's trade, investment and financing to a major extent; and macroeconomic balances and the goals of monetary policies. The fluctuations of one or all these elements will affect everyday operations of the central rate. Formerly, when we used an average inter-bank rate which stayed relatively stable during a period of time, the pressure … [Read more...]

Objectives of daily exchange rate policy

VGP – The State Bank of Viet Nam said on Monday its daily exchange rate, applicable the same day, aims to elevate the VND value and prevent USD hoarding. It will also facilitate VND/USD transactions and encourage people to bank their savings in VND, said Vice Governor of the State Bank of Viet Nam Nguyen Thi Hong. The central bank also said it will still maintain the trading band for VND/USD transaction of -/+ 3%. The new mechanism will provide basis for credit organizations and branches of foreign banks to decide buying and selling rate between VND and USD in stead of fixing a rate for a period of time. VietinBank General Director Le Duc Tho said the new exchange rate mechanism is a necessary step conducive to the market and international integration process./. By Quang Minh … [Read more...]

Hanoi roads to be closed off for Party congress drill

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The grey line indicates the road part to be closed in Hanoi on January 5, 7 and 9 for the Party congress preparation. Photo credit: VnExpress Hanoi will close off some streets in Tu Liem District on January 5, 7 and 9 as security drills continue for the national Party congress to be held at the end of the month. A statement from the city traffic police said parts of Le Duc Tho and Le Quang Dao Streets from the Le Duc Tho – Nguyen Hoang Circle to Me Tri – Le Quang Dao intersection will be closed to traffic from 6 a.m. to noon. This section runs in front of the My Dinh National Convention Center where the drill will be performed. On nearby roads too vehicles will have to stop to make way for military and police vehicles, it said. A similar drill was held Sunday morning with around 5,200 officers from the military and the Ministry of Public Security taking part with more than 200 armored and other specialized vehicles. The 12th Party congress, a quinquennial event, will … [Read more...]

Phu Tho Investment Promotion Conference: Connecting Government with Investors

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The Phu Tho Provincial People’s Committee in cooperation with the State Bank of Vietnam (SBV) recently held Conference on Investment Promotion of Phu Tho Province 2015. Under the chairmanship of Politburo Member, Deputy Prime Minister Nguyen Xuan Phuc, Head of the Northwest Steering Committee, the conference attracted more than 500 delegates who were government officials, representatives from central agencies, embassies, international trade organisations, economic experts, entrepreneurs and investors in Vietnam and the world. Addressing the opening session, Mr Hoang Dan Mac, Secretary of the Phu Tho Provincial Party Committee and Chairman of Phu Tho Provincial People’s Council, said, situated in the heart of the region, standing in the northwest gateway to Hanoi, serving as a bridge for Northwest provinces and Red Delta provinces, and lying on Haiphong - Hanoi - Kunming Economic Corridor, Phu Tho province gathers all favourable conditions for economic and commercial … [Read more...]

Master plan to preserve and upgrade the Con Dao historical relic

Con Dao island. Photo:Internet

(Cinet)- Prime Minister Nguyen Tan Dung has approved the revision of a master plan to preserve, upgrade and promote the Con Dao historical relic in the southern Ba Ria-Vung Tau Province. The master plan has been revised across 110.69ha, comprising 41ha of protected zone 1 and nearly 70ha of protected zone 2. The revision will be made in areas such as the relic zone of Nguyen Thi Minh Khai Street, Le Duc Tho Street, Tran Phu Street and Ton Duc Thang Street, as well as the relic groups in Hang Duong Cemetery, and some relic sites such as Ma Thien Lanh Bridge, Mot Mountain Pagoda, Ba Phi Yen Temple and Tay Cemetery. The relics that have been completely destroyed will only be restored in case they have special historical value and there are enough scientific materials to refer to. In the protected zone 2, new construction projects must complement the surrounding landscape. The revision plan is aimed at preserving and restoring the Con Dao Relic that honours soldiers for their … [Read more...]

Top of luxurious hotels in Hanoi (Part 2)

Sofitel Plaza

(Cinet)- As the capital of thousands of years of civilization and the cultural and political center of Vietnam, Hanoi annually welcomes millions of tourists to visit and go business. Hanoi hotel system not only comes up to the world’s standard but it also creates a good impression for visitors coming to the capital. The list of top 5-star hotels in Hanoi is following. 7. Hilton Opera Hotel, 1 Le Thanh Tong Street, Hoan Kiem District, Hanoi. Owned by famous corporation- Hilton, the world class hotel received an award for "The Best Hanoi Business Hotel in 2010" and was voted in favor of "Vietnam's Leading Hotel 'for five consecutive years at the ceremony of World Travel Awards. 8. Sofitel Plaza, 1 Thanh Nien Road, Ba Dinh District, Hanoi. Hotel owned a conference center is equipped with modern facilities to accommodate over 500 people. In addition, the hotel combines leisure complex, including bars, restaurants, clubs, health, swimming pools, professional spa services, … [Read more...]

Hundreds of millions of bank shares put on sale

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VietNamNet Bridge - Commercial banks are sprinting to sell shares of other banks they are holding, so they will not be fined as warned by the State Bank (SBV). SBV, in Circular No 36, stated that commercial banks must divest the shares of other banks prior to February 1, 2016 to reduce their ownership ratios in the banks to below five percent of chartered capital. One commercial bank is allowed to hold shares in more than two banks. As such, banks only have three banks ahead to withdraw capital from other credit institutions. A report showed that Vietcombank holds 7.1 percent of Military Bank’s stakes, 8.2 percent of Eximbank, 5 percent of OCB and 4.3 percent of Saigonbank. Meanwhile, Eximbank holds 8.76 percent of stakes of Sacombank and Maritime Bank holds 8.9 percent of Military Bank’s stakes. Under Circular No 36, commercial banks will be allowed to hold more shares than stipulated by legal documents in case the banks have to implement the task of assisting … [Read more...]

More SBV policies to help SMEs

HA NOI (VNS) — State Bank of Viet Nam would further formulate policies to support efficient small- and medium-sized enterprises and those manufacturing and exporting products, Director of SBV's credit department Nguyen Tien Dong said. Seeing the significant role being played by small- and medium-sized enterprises (SMEs) in the economy, which account for 97 per cent of the existing enterprises, Viet Nam has already issued policies offering preferential loans to SMEs. Lending to SMEs accounts for roughly 25 per cent of the economy's total outstanding loans. Still, SMEs found it difficult to access credit from banks. A recent survey by the Viet Nam Chamber of Commerce and Industry found that high interest rates, no assets available for mortgage, complicated procedures and bad debts, besides unfeasible business plans were among the reasons that caused difficulties in accessing credit. Dong said policies would be issued to direct capital flow to SMEs that are run efficiently and … [Read more...]

Rubbish collection causing pollution, odours in Hanoi

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VietNamNet Bridge – Trash collection in Ha Noi has become a nuisance and caused serious pollution, according to residents who have complained about the trash collection schedule and its proximity to their homes. In Long Bien District's Sai Dong Ward, 27 households have been suffering from terrible odour for months due to the location of the trash collection site about 15 metres from their houses. Le Van Kiem, a resident of Sai Dong Ward, said his household and others have asked many times for the garbage truck to be relocated, but the situation has not improved. "The collection site is too close to us," he said. "The worst thing is that wastewater always leaks onto the road, and most of the trash trolleys have no lids, leaving an unbearable smell even after the truck has left." Kiem said there is an abandoned area at the end of the road. He asked the local authorities to move the collection site there, but he has not received a reply. Households along Thuy Khue Road in Ba … [Read more...]

Banks rush to meet SBV ownership limits rules

HA NOI (VNS) — Some commercial banks are racing to withdraw invested capital from other banks to ensure compliance with the State Bank of Viet Nam (SBV)'s regulations on ownership limits in early 2016. Under the SBV's Circular No 36, which will take effect on February 1, 2016, one commercial bank can hold a stake in no more than two other banks, unless the other banks are its subsidiaries. The proportion of shares of other credit institutions must not be higher than 5 per cent of the shares with voting rights. Only some banks will sigh with relief after buying finance companies to which they had contributed capital. For example, Techcombank bought Vinachem Finance Company, VPBank bought Vinacomin Finance Company, and HDBank bought SGVF. Vinaconex Viettel Finance Company was also taken over by SHB, and Maritime Bank merged with both MDB and Vinatex Finance Company, in which it holds 10 and 11 per cent of stake, respectively. However, some other banks have not successfully … [Read more...]

Rubbish collection causing pollution, odours in Ha Noi

HA NOI (VNS) — Trash collection in Ha Noi has become a nuisance and caused serious pollution, according to residents who have complained about the trash collection schedule and its proximity to their homes. In Long Bien District's Sai Dong Ward, 27 households have been suffering from terrible odour for months due to the location of the trash collection site about 15 metres from their houses. Le Van Kiem, a resident of Sai Dong Ward, said his household and others have asked many times for the garbage truck to be relocated, but the situation has not improved. "The collection site is too close to us," he said. "The worst thing is that wastewater always leaks onto the road, and most of the trash trolleys have no lids, leaving an unbearable smell even after the truck has left." Kiem said there is an abandoned area at the end of the road. He asked the local authorities to move the collection site there, but he has not received a reply. Households along Thuy Khue Road in Ba Dinh … [Read more...]

Bank assists Hanoi Fund for the poor with VND35 billion

VietinBank General Director Le Duc Tho presents the assistance to Hanoi Fund for the poor. (Photo: vietinbank.vn)

During the launch ceremony of the month for the poor held on October 13th, agencies, organizations, individuals and sponsors contributed over VND41 billion to the Hanoi Fund for the poor, with VND35 billion coming from the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank). Speaking during the ceremony, President of the Hanoi Fatherland Front, Dao Van Binh said that the fund had made important contributions to reduce the city’s poverty rate to below 1.2% in 2015. Since 2014, the fund has received over VND50 billion, with over VND4 billion having spent on building 807 houses for poor families and VND3.5 billion having been used to repaired 506 houses for others. There are currently over 34,400 poor and 44,600 nearly-poor families in the city who are in need of support. "In the future, the assistance for the poor will focus on providing them methods of production, giving support for seedlings, capital and materials as energy for production and for … [Read more...]

Bank supports local needy households

Handing over the financial support

PANO - The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) handed over VND 35 billion to disadvantaged Hanoi people on October 13th. Head of the Hanoi Fatherland Front Committee Dao Van Binh said that the city’s "For the poor" fund received VND 50 billion last year to construct and repair over 1,300 houses, contributing to reducing the number of local poor households to under 1.2 per cent in 2015. Meanwhile, VietinBank General Director Le Duc Tho said that the bank’s activity showed its staff’s care and sentiment for impoverished people in Hanoi. To date, the bank has spent VND 700 billion on gifts for policy beneficiaries, and on building houses, schools, roads and other public facilities in Hanoi. Translated by Van Hieu … [Read more...]

Yet another Vietnamese teacher accused of abusing toddler

A teacher at a private nursery school in Hanoi has been suspended after a couple accused her of violently shaking their 16-month-old daughter and slapping her in the face. Nu Cuoi Xinh Nursery School on Le Duc Tho Street in Nam Tu Liem District also ordered teacher Mai Bich Ngoc, 34, to write a report on the case. Tran Bich Ngoc, the mother of the toddler, on Friday posted a video on her Facebook page. In the two-minute video, the teacher violently shakes and slaps the child for refusing to eat lunch last Tuesday (October 6). Ngoc and her husband discovered the horrifying incident after checking the class camera. Thanh Nien could not reach the authorities for comments as of press time. On Thursday authorities in the central province of Quang Binh shut down Son Ca Nursery School after a couple alleged that three babysitters at the unlicensed school had tied up their 14-month-old son and stuffed rags in his mouth. Police arrested the three, aged between 20 and 22, the next … [Read more...]

When will the flooding end in HCM City?

Tracing the causes of flooding: urbanization and illegal encroachment on canals

VietNamNet Bridge – When will HCM City’s flooding end? It is a big question raised for the municipal authorities. After 1975, the number of migrants to HCM City skyrocketed and along with this, slums formed everywhere. Houses were built arbitrarily, breaking the designed planning. Land became gold. The canals, ponds and gardens, and grass covers quickly filled up. In 2005, during a meeting with investors from the US, who wanted to restructure residential areas along the Saigon River, lawyer Xuan Lee Tan said that the highest land prices in the world are beautiful, quiet islands, followed by coastal land, riverside land and suburban land. The lowest price is for urban land. Only poor and undeveloped countries, including Vietnam, are "fond" of urban land. The reasons are very clear. People need clean and comfortable accommodations. Distance is not an issue if public transport is well organized and roads are good. The lower the density of urban residents, the less pressure … [Read more...]