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The inside of a passenger train carriage for Metro Line No.1 in HCM City. The city is seeking more private investment to build its metro lines. — VNA/VNS Photo Tiến Lực HCM CITY — HCM City wants to attract more private investment instead of relying on official development assistance (ODA) to build its remaining metro lines, but experts have said that it faces a difficult challenge. Dr. Vũ Anh Tuấn, director of Việt Đức Transport Research Centre, said the city was facing hurdles finding private investors for the metro lines. “Investors are hesitant because these metro projects are all done on a massive scale and require a huge amount of capital, while revenue from ticket sales is not enough to cover operating costs,” he said. Moreover, a lack of a legal framework on private-public partnership (PPP) investment in traffic and railway projects has added to the problem, according to Tuấn. Dr. Huỳnh Thế Du, lecturer at Fulbright University, said it was important to learn from the experience of other countries such as South Korea and China, which initially relied on advanced technology and foreign loans for their first railway lines. Later, they focused on domestic private investment and technology, which lowered the costs greatly. Most of the metro lines in HCM City are being funded by ODA loans. For example, the first metro line with a total investment of VNĐ43.757 trillion (US$1.9 billion) is being built with an ODA loan from Japan of VNĐ38.265 trillion, and reciprocal capital of VNĐ5.492 trillion. Total investment for metro line 2 is VNĐ47.891 trillion, of which ODA is VNĐ37.487 trillion from the Asian Development Bank (ADB), German KfW Development Bank (KfW) and European Investment Bank (EIB). The reciprocal capital is VNĐ10.404 trillion. The first phase of metro line No 5 will be funded by ODA loans from the ADB, KfW, EIB and the Spanish government. “The problem with the use of ODA loans is the delay in disbursement procedures, …

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Workers operate machines at a steel mill in northern Việt Nam. — VNA/VNS Photo HÀ NỘI — Fifteen types of export commodities will be put under strict scrutiny by Vietnamese customs authorities starting this year as part of a campaign to fight origin fraud, illegal transhipment and unfair trade practices, according to the General Department of Vietnam Customs. The general department said the campaign would play an important role in helping Vietnamese firms avoid potential trade protective measures and in protecting their rights and interests. For the campaign, it has proposed a list of commodities including wood and wood furniture, sporting equipment, interior decorative items, steel products, electronics, solar battery, tires, footwear and handbags among others. The department will continue scanning for other commodities with high-risk of origin fraud, illegal transhipment and unfair trade practices, which may soon be added to the list. It has instructed its branch offices across the country to conduct additional investigations and issue severe fines to violators. A major focus of the campaign is to monitor exports to markets like the US, the EU and India, which have seen rapid development in recent years. Investigators will look into products that are assembled and processed in Viêt Nam with almost all their raw materials brought in from abroad. Firms established since 2018 that have reported abnormally high export volume within a short period of time or abnormally high production volume compared to their infrastructure should expect greater scrutiny as the campaign moves on. In a recent report, the general department said it issued fines to the tune of VND77 billion (US$3.3 million) last year for origin fraud, illegal transhipment and intellectual property rights violations. More than 100 firms were investigated with 43 origin fraud cases brought to light. Product origin remains a thorny issue between Việt Nam and a number of its …

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The Hanoitimes - With a projected contraction of the nation’s labor force by 5% by 2040 due to an aging population, the challenge for manufacturers will be to attract and retain quality workers. Providing childcare for employees has a positive impact on Vietnamese businesses, improving recruitment, retention, and worker productivity, according to a report released today by IFC, a member of the World Bank Group. The export-oriented manufacturing sector has been a key driver of economic growth and job creation in Vietnam, particularly for women who make up over 80% of the sector’s labor force. The business benefits of employer-supported care in Vietnam. Source: IFC. While the global Covid-19 pandemic has impacted demand, the manufacturing industry is well-positioned for the recovery and further growth. With a projected contraction of the nation’s labor force by 5% by 2040 due to an aging population, the challenge for manufacturers will be to attract and retain quality workers. Offering childcare support to working parents can be part of the solution to attracting and retaining workers in Vietnam’s tightening labor market, according to a new IFC report Tackling Childcare: The Business Case for Employer-Supported Childcare in Vietnam. Many employees interviewed in this study consider employer-supported childcare — especially on-site facilities — among the decisive factors in choosing a job. “IFC research reveals a gap between the need for and the supply of childcare in Vietnam. Employers can play a role in addressing this gap, not just by directly providing care, but by creating family-friendly workplaces that help employees combine productive work with parenting,” said Kyle Kelhofer, IFC Country Manager for Vietnam, Cambodia, and Lao PDR. “When schools and daycares closed during the Covid-19 pandemic, it became clear how closely linked productivity is to childcare. We cannot forget that as we head into recovery from the Covid-19 …

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