A view of the National Assembly discussions on Monday. — VNA/VNS Photo HÀ NỘI — The National Assembly continued their working session on Monday, with discussions centred on the amendments to the Law on Criminal Procedures which is set to be voted on for adoption in this session. The amendments are mostly about realising Việt Nam’s commitments when it acceded to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and making changes to adapt to the COVID-19 era. The CPTPP said member countries’ relevant authorities could initiate legal action against violations of industrial property rights or trademarks without the need for a lawsuit from a third-party or from the infringed rights' holder. This is in conflict with the current law on criminal proceedings. Most agreed that changes to the law are needed to fit CPTPP provisions, but the handling of violations of geographical indications (as part of the industrial property rights category) – …
15th national assembly
New financial support package to create new momentum for business recovery
Passenger buses at Giáp Bát station in Hà Nội. The transport companies are planning to operate at their maximum capacity to compensate for the sales lost in the last three months. — VNA/VNS Photo Hoàng Hiếu By Mai Hương HÀ NỘI — As the COVID-19 pandemic has seriously impacted the implementation of Việt Nam’s economic development plans, the National Assembly (NA) and Government have been proactively and urgently deploying stimulus packages to quickly restore the economy and leverage growth. The latest Resolution 406/NQ-UBTVQH15, issued by the National Assembly on October 19, is regarded as a correct and timely policy, and was well received by enterprises. The Resolution offers support for enterprises and individuals affected by COVID-19 through tax reductions with a total value of up to VNĐ21.3 trillion (US$926 million). The beneficiaries will enjoy direct tax reductions which is considered more practical than the extension of tax payments in previous support packages. …
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Ministry of Construction proposes credit package to build homes for workers
A housing project built for workers in Kim Chung commune of Dong Anh District. — Photo courtersy of HNM The Ministry of Construction has proposed a VND30 trillion (US$ 1.3 billion) credit package to build low-cost homes for workers. According to the Ministry of Construction (MoC), the package will help ensure social welfare for vulnerable people, enhance economic recovery and development, remove the difficulties plaguing enterprises and support the development of the housing and real estate market. Although the Government has issued multiple solutions to develop affordable housing for workers, the supply of homes for workers at industrial parks have yet to meet the demand. Across the country, there are 266 social housing projects with more than 142,000 units totalling more than 7.1 million square metres. Another 278 projects including 276,000 units with a total area of 13.8 million square metres are under development. Cities and provinces have completed 121 social housing …
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Inflation expected to be reined in for 2021
In a bid to continue successfully controlling inflation this year amid a rise in local consumption, the government is taking drastic action, with the stabilisation of prices of key items in the market a priority. The government has ordered localities to use sound solutions to bring inflation under control. Although the four-month consumer price index (CPI) remains low, at 0.89% as compared to that of the same period last year, the Ministry of Finance (MoF) has just sent a document to leaders of localities nationwide requiring them to apply sound solutions to keep prices in the market on the right track. Close control Specifically, the MoF has asked the people’s committees of provinces and centrally-ruled cities to increase their management, monitoring, and stabilisation of prices, and take the initiative in calculating and formulating pricing schemes for items whose prices are determined by the government. The MoF’s fresh move is aimed at supporting the …
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Việt Nam highlights significance of UN peacekeeping at Fourth Committee’s debate
Ambassador Phạm Hải Anh, Deputy Permanent Representative of Việt Nam to the UN, spoke at a general debate of the Special Political and Decolonisation Committee (Fourth Committee). — VNA/VNS Photo HÀ NỘI — Việt Nam has called on the United Nations and other countries to pay greater attention to ensuring security and safety for UN peacekeeping forces, strengthening the application of information technology in operations, and defining tasks and resources for missions. Addressing a general debate of the Special Political and Decolonisation Committee (Fourth Committee) on Monday (US time), Ambassador Phạm Hải Anh, Deputy Permanent Representative of Việt Nam to the UN, underlined that peacekeeping operations were one of the important tools of the UN in maintaining peace and international security. Mentioning Việt Nam’s contributions to UN missions in Central Africa and South Sudan recently, he said that the ratio of Vietnamese female peacekeepers in the missions now stood at 20.6 per …
Tesla zooms past $1 trillion market cap on bet that the EV future is now
Tesla Inc surpassed $1 trillion in market value on Monday after landing its biggest-ever order from rental car company Hertz, a deal that reinforced the electric car leader's ambitions to top the entire auto industry in sales over the next decade. Tesla shares surged as much as 14.9% to $1,045.02, making it the world's most valuable automaker according to Reuters calculations based on its latest filing. Even Tesla Chief Executive Elon Musk expressed surprise at the velocity of the surge. "Strange that moved valuation, as Tesla is very much a production ramp problem, not a demand problem," Musk tweeted in reply to a comment by Ross Gerber, co-founder of the investment fund Gerber Kawasaki and a Tesla shareholder. "Wild $T1mes!" Musk wrote in a separate tweet. Tesla is the first carmaker to join the elite club of trillion-dollar companies that includes Apple Inc, Amazon.com Inc, Microsoft Corp and Alphabet Inc. Most automakers do not boast about sales to rental car companies, …
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