Vice State President Nguyen Thi Doan made the commitment at the Vietnam-Angola Business Forum held in Hanoi on February 16, with the aim of further fostering trade and investment cooperation between the two countries. Ms Doan emphasized that both Vietnam and Angola are open markets with great potential, providing good opportunities for businesses from both countries to develop their markets in the coming years. Angolan Vice President Fernando Dias dos Santos said his country considers agriculture a key sector, producing cereals and livestock for the processing industry. Its economy is gradually rebounding, so the country is creating an attractive environment for public and private investments, as well as devising measures and legal tools for strong economic growth. Mr dos Santos expressed his hope that Angolan businesses will build a strong foundation for national economic development, and that bilateral economic cooperation will progress in the near future. Vu Tien Loc, Chairman of … [Read more...]

Restructuring of State-run firms faces challenges Restructuring of a number of State-owned enterprises has been delayed due to problems of redundant workers, collecting past-due debts and writing down losses, said deputy head of the Government Office and vice chairman of the Steering Committee on Business Renovation and Development, Pham Viet Muon. Muon told a meeting held here Wednesday by the Government Office and the World Bank that the process of equitising State-owned enterprises (SOEs) has slowed in the past five years. He said the Government has requested economic groups to submit restructuring plans by March of this year which would be focused on key lines business and plan for divestment from non-core business fields such as banking, real estate development, insurance and securities before 2015. Equitisation of companies was expected to be completed before 2020. Once operations were totally focused on key lines of business, with improved corporate governance, equitisation … [Read more...]

Restructuring of State-run firms faces challenges Restructuring of a number of State-owned enterprises has been delayed due to problems of redundant workers, collecting past-due debts and writing down losses, said deputy head of the Government Office and vice chairman of the Steering Committee on Business Renovation and Development, Pham Viet Muon. Muon told a meeting held here Wednesday by the Government Office and the World Bank that the process of equitising State-owned enterprises (SOEs) has slowed in the past five years. He said the Government has requested economic groups to submit restructuring plans by March of this year which would be focused on key lines business and plan for divestment from non-core business fields such as banking, real estate development, insurance and securities before 2015. Equitisation of companies was expected to be completed before 2020. Once operations were totally focused on key lines of business, with improved corporate governance, … [Read more...]

The Vietnam-Angola Business Forum, themed "New Partners for Development" took place at Media Hotel, Hanoi on February 16. The event was hosted by the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the Angolan Embassy in Vietnam. Vietnamese Vice President Nguyen Thi Doan and Angolan Vice President Fernando Dias Dos Santos chaired and delivered speeches to the meeting. Vice President Fernando Dias Dos Santos said Angola would do its best to promote the effective bilateral cooperation. Angola will create the most favourable conditions for Vietnamese companies to do business and for Vietnamese people to live and work. Meanwhile, Vice President Nguyen Thi Doan stressed that both Vietnam and Angola are open markets with great potential, providing good opportunities for businesses from both countries to develop their markets in the coming years. Vietnam will do its utmost to further promote political and economic relations with Angola. The forum witnessed an … [Read more...]

Vietnam and Angola are promising open markets and the Vietnam-Angola Business Forum is an opportunity for the two countries’ businesses to develop their markets in coming years, said Vice State President Nguyen Thi Doan. Addressing the forum, themed “New Partners for Development” that took place in Hanoi on Feb. 16, Vice President Doan said Vietnam will exert its utmost to beef up the two countries’ economic and political relations, facilitate cooperation between the two countries’ businesses and act as an efficient bridge for the two economies to bring their strengths into play. Angolan Vice President Fernando Dias Dos Santos said Angola defines agriculture as its key goal, with cereal and breeding and processing industries. Angola is creating an attractive investment environment for private and public investors, said the Angolan Vice President, expressing his belief that through the establishment of partnerships, cooperation between Vietnamese and … [Read more...]

Vietnam and Angola are promising open markets and the Vietnam-Angola Business Forum is an opportunity for the two countries' businesses to develop their markets in coming years, said Vice State President Nguyen Thi Doan. Addressing the forum, themed "New Partners for Development" that took place in Hanoi on Feb. 16, Vice President Doan said Vietnam will exert its utmost to beef up the two countries' economic and political relations, facilitate cooperation between the two countries' businesses and act as an efficient bridge for the two economies to bring their strengths into play. Angolan Vice President Fernando Dias Dos Santos said Angola defines agriculture as its key goal, with cereal and breeding and processing industries. Angola is creating an attractive investment environment for private and public investors, said the Angolan Vice President, expressing his belief that through the establishment of partnerships, cooperation between Vietnamese and Angolan businesses will see new … [Read more...]

VGP - Việt Nam-Angola Business Forum was held in Hà Nội on February 16 to boost trade and investment cooperation between the two countries. Việt Nam will do its utmost to further promote political and economic relations with Angola and create the best conditions for businesses from the two countries to cooperate with each other, said Vice State President Nguyễn Thị Doan. Ms. Doan emphasized that both Việt Nam and Angola are open markets with great potential, providing good opportunities for businesses from both countries to develop their markets in the coming years. Angolan Vice President Fernando Dias dos Santos said his country considers agriculture a key sector, producing cereals and livestock for the processing industry. Its economy is gradually rebounding, so the country is creating an attractive environment for public and private investments, as well as devising measures and legal tools for strong economic growth. Mr. dos Santos expressed his hope that Angolan businesses will … [Read more...]

Customs tariff case ruled in favor of business By Minh Tam - The Saigon Times Daily HCMC – The Supreme People’s Court in HCMC has announced a local enterprise won a two-year case against the customs over a controversial tariff levy on camera tripods. Phuoc Camera Joint Stock Company filed the case against the Tan Cang unit of the HCMC Department of Customs over a 15% tax slapped on Phuoc Camera’s imported tripods. According to the court decision, the Tan Cang customs is ordered to return the earlier-collected VND140 million to Phuoc Camera. The Tan Cang customs on September 2 and November 2, 2010 issued two separate decisions imposing a 15% tax on the tripods imported by Phuoc Camera as they put the product into the group of uncategorized aluminum goods coded 7616. Meanwhile, Phuoc Camera cited Document 7501 of the General Customs Office as saying the tripods could enjoy a tax exemption, so it listed the tripods in the group of tax-free items. Later, the Tan Cang … [Read more...]

Perenco upstages giants Independent oil and gas company Perenco has snapped up the Vietnam-based assets of ConocoPhillips, beating heavy-duty competitors including PetroVietnam and TNK-BP to the punch. US-backed ConocoPhillips announced that it had reached a billion-dollar plus agreement to offload its assets in Vietnam to Perenco, an oil and gas company with operations in 16 countries across the globe. In its statement, ConocoPhillips said the sale of assets in Vietnam was a part of ConocoPhillips’s ongoing strategy to create shareholder value. The company said that the Vietnam business unit was sold at a total of $1.29 billion plus customary working capital adjustments. However, previously ConocoPhillips expected that those assets would have total valued at up to $1.5 billion. ConocoPhillips will now sell its three wholly-owned subsidiaries that separately hold a 23.25 per cent participating interest in Block 15-1, a 36 per cent participating interest in Block 15-2, and a … [Read more...]

Perenco upstages giants Independent oil and gas company Perenco has snapped up the Vietnam-based assets of ConocoPhillips, beating heavy-duty competitors including PetroVietnam and TNK-BP to the punch. US-backed ConocoPhillips announced that it had reached a billion-dollar plus agreement to offload its assets in Vietnam to Perenco, an oil and gas company with operations in 16 countries across the globe. In its statement, ConocoPhillips said the sale of assets in Vietnam was a part of ConocoPhillips's ongoing strategy to create shareholder value. The company said that the Vietnam business unit was sold at a total of $1.29 billion plus customary working capital adjustments. However, previously ConocoPhillips expected that those assets would have total valued at up to $1.5 billion. ConocoPhillips will now sell its three wholly-owned subsidiaries that separately hold a 23.25 per cent participating interest in Block 15-1, a 36 per cent participating interest in Block 15-2, and a … [Read more...]

Ho Chi Minh City rejects demand for waste imports The Ho Chi Minh City People's Committee yesterday officially rejected a waste treatment company's demand to import 10,000 tons of waste from the US. The city's government has ordered the municipal Department of Natural Resources and Environment not to approve the demand from Vietnam Waste Solution Company (VWS) to import uncategorized waste for a trial operation of its waste separating plant. Early this week, VWS, investor of the Da Phuoc Waste Treatment Complex in Binh Chanh District that receives 3,000 tons of trash every day, had shocked the public by refusing to use the huge amount of garbage discharged to Da Phuoc but insisting on using the imported waste for their separation test. … [Read more...]

Based on the reality and experience of the reform process, as well as the requirements of the new stage, international trends and prospects for our country, the theoretical think tank circle of our country should focus their research on the following key issues: Firstly, creatively applying and developing Marxist-Leninism, HoChiMinh ideology on socialism in the current era in which globalization and international integration are the main stream. Secondly, promoting theoretical studies and review the practice of developing a socialist-oriented market economy, of which importance is given to market factors and types of productivity, business entities and the self-motivated stance of enterprises in the market economy. In addition, promoting various types of markets, building institutions of a market economy in line with requirements of active international economic integration. Thirdly, studying political and social theoretical matters, social policies and management, of which the … [Read more...]

Construction of the Deo Ca project is expected to start in September, 2012 and it is scheduled to complete within four years - Nghiem Sy Minh Deo Ca Investment Joint Stock Company (DCIC) management board chairman Nguyen Chung (vir.com.vn) … [Read more...]

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Prime Minister Phan Van Khai on April 1, the second day of the government's monthly meeting, said that the whole country should concentrate on developing the macro-economy, stabilising prices and foreign exchange rates, promoting investment in infrastructure construction and accelerating exports. He pointed out advantages and disadvantages in socio-economic development in the second quarter of this year, particularly difficulties caused by the war in Iraq. The country needs to mobilise capital from the people and enterprises, disburse official development assistance (ODA) capital and create favourable conditions for foreign entrepreneurs to invest in Vietnam, the government leader stressed. He expressed his satisfaction at the fact that investment capital poured into the country has not been reduced despite impacts of the war in Iraq. Management should be focused on promoting investment in infrastructure construction, Prime Minister Khai said, adding prices of some items saw increases … [Read more...]

Party General Secretary Nong Duc Manh has stressed that the staff of Nhan Dan newspaper, the voice of the Party, State and people of Vietnam, should make greater efforts to promote the role of a pacesetter in the political and ideological front. He said this while visiting Nhan Dan newspaper in Hanoi on March 28. Editor-in-chief Dinh The Huynh reported to Party leader Nong Duc Manh the efforts of Nhan Dan newspaper in implementing political tasks and strengthening working capability. After two years of implementing the resolution of the Ninth Party Congress and under the close leadership of the Politburo and the Party Secretariat, together with the effective co-operation and support from agencies, sectors, organisations and readers, the editorial board and staff of Nhan Dan newspaper have seen significant achievements in improving the quality of different publications and fulfilling the function of a central organ of the Communist Party of Vietnam and the voice of the Party, State and … [Read more...]

To bring about a proactive shift in information dissemination and the movement of studying Ho Chi Minh Minh thought among Party members, the people, and soldiers. The speech of Mr. Nguyen Khoa Diem(1) at the opening ceremony of the Contest for Excellent Reporters and Disseminators of Ho Chi Minh Thought held in Cong Vi Ward, Ba Dinh District, Hanoi. Today, 19 May 2003, is the 113th anniversary of our beloved Uncle Ho's birthday. We are all here to carry out a work of great significance and practicality—to open the Contest for Excellent Reporters and Disseminators of Ho Chi Minh Thought. More importantly, the contest is held in a Party establishment where Uncle Ho lived and worked, and now rests in peace. It helps pave the way for the nationwide Contest of Disseminating Ho Chi Minh Thought. The contest has attracted a vast number of cadres, veteran revolutionaries, students, and youths in the ward. This shows the President's great influence and his close touch with the population; … [Read more...]

In the morning of 14 June 2003, in the Governmental Office, Prime Minister Phan Van Khai received visiting Chinese Foreign Minister Li Zhaoxing and other delegates. Welcoming the Chinese delegation headed by Minister Li Zhaoxing, the Prime Minister stressed: the two countries Vietnam and China have a long-standing friendly relationship which has been developed by President Ho Chi Minh and Chinese leaders. Khai also delightedly praised that the bilateral comprehensive friendly cooperation between the two countries is increasingly intensified and promoted. Over the past time, the two countries have gained some considerable achievements in economic field, especially trade, investment and cooperation. They have made great efforts to take proper measures to maintain the growth of commercial turnover, striving to reach US$5 billion in two-way trade by 2005. The Prime Minister hoped a bilateral trade agreement could be signed soon to provide a legal frame for the expansion of commercial ties … [Read more...]

Dear leaders of the Party, State and Vietnam Fatherland Front, Dear distinguished guests, Dear National Assembly deputies, After a month and a half, in the spirit of intensive work, high sense of responsibility and democracy the third session of the 11th Legislature of the Vietnam National Assembly has come to a close. At this session, the NA discussed and gave more evaluations about the implementation of socio-economic tasks and State budget plan set for 2002; the implementation of socio-economic and State budget plan in early 2003; approved 8 laws; advised on 9 draft laws; guaranteed the rights to inquiry to and the rights to response; discussed and approved the Resolution on exemption and reduction of the tax on the use of agricultural land, the Resolution on the pilot implementation of the organization of management of, providing vocational training and creation of jobs for rehabilitated drug in Ho Chi Minh City and a number of centrally-run cities and provinces. Through … [Read more...]

Nong Duc Manh, General Secretary of the Central Committee of the Communist Party of Vietnam On the occasion of the 113th anniversary of President Ho Chi Minh's birthday, in the morning of 15 May 2003, General Secretary Nong Duc Manh paid a visit to the Ho Chi Minh National Politics Institution. He gave an important speech on promoting research, education and popularization of Ho Chi Minh Thought. Dear comrades, Today, on the occasion of the 113th anniversary of President Ho Chi Minh's birthday (19 May 1890- 19 May 2003), I would like to present here in the Ho Chi Minh National Politics Institution. During this period, the entire Party is implementing the Direction of the Secretariat on "Promoting research, education and popularization of Ho Chi Minh Thought in the new era" to further put into reality the Resolutions of the Party Congress and of the 5th Central Committee (9th Tenure) on ideology and theory. The Institution has been also preparing to sum up over 10 years of researching … [Read more...]