The Hanoitimes - Being ranked at the 15th position, Phong Nha- Ke Bang National Park is the only national park in Southeast Asia to appear on the list compiled by TripAdvisor. The UNESCO-recognized global heritage site of Phong Nha- Ke Bang National Park has recently been voted as one among 25 best national parks of the world in 2021 by TripAdvisor by travelers. "The karst formation of Phong Nha-Ke Bang National Park has evolved since the Paleozoic (some 400 million years ago) and so is the oldest major karst area in Asia,” the renown website for traveling advises wrote. Hang Ken River, Son Doong Cave- Phong Nha-Ke Bang National Park. Photo: Oxalis Adventure Tours. According to TripAdvisor, subject to massive tectonic changes, the park’s karst landscape is extremely complex with many geomorphic features of considerable significance. The vast area, extending to the border of the Lao People’s Democratic Republic, contains spectacular formations including 65 kilometers of caves and underground rivers. Being ranked at the 15th position, Phong Nha- Ke Bang National Park is the only national park in Southeast Asia to appear on the list compiled by TripAdvisor. The Phong Nha – Ke Bang National Park in Quang Binh province was recognized as a World Natural Heritage Site by the United Nations Educational, Scientific and Cultural Organization (UNESCO) in 2003 for its significant geological and geomorphic features. Covering 85,754 hectares, Phong Nha-Ke Bang National Park consists of 300 different caves and grottos with limestone structures and the oldest karst formation in Asia, dating back to some 400 million years. Son Doong Cave. Photo: Google Arts & Culture It is also home to Son Doong, which is credited as world’s biggest cave. In the cave, tourists will be stunned at varied forms of rocks and colors of stalactites. As many as 39 grottoes with combined length of 17 kilometers was discovered in Phong Nha-Ke …
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Vietnam faces difficulty in raising funds for infrastructure
The Hanoitimes - Taking into account the size of the Vietnamese economy, a large proportion of the state budget allocated for infrastructure development would affect the balance of payment and the economy. Vietnam is currently struggling to mobilize funds for infrastructure development, evidenced by the country’s state budget allocation of 5.7% of the GDP for such projects, the highest ratio in Southeast Asia, according to Lynn Tho, representative of Ernst & Young. Overview of the conference. Source: VGP. As funding from state budget remains limited, mobilizing private funds for infrastructure projects is a viable option for Vietnam, said Tho at a conference discussing the public-private partnership (PPP) mechanism in Vietnam’s context on January 15, the governmental portal reported. According to the Global Competitiveness Report 2017 – 2018 of the World Economic Forum, Vietnam ranked 79 th out of 137 countries and territories in terms of quality of the infrastructure system. Additionally, only 20% of Vietnam’s roads are asphalted, significantly lower than other countries such as Malaysia, India and Indonesia. The Asian Development Bank (ADB) estimated Vietnam would need around US$480 billion for infrastructure development in the 2017 – 2030 period. However, given the fact that Vietnam's modest economic size is restricting capital accumulation capacity, a large proportion of state budget allocated for infrastructure development would affect the balance of payments and cause public debt to swell. Addressing the conference, Country Director of the World Bank in Vietnam Ousmane Dione said the PPP mechanism would bring benefits for Vietnam, but fiscal risk remains the most challenging issue. Dione said some think the PPP investment is a way to have free infrastructure, or a solution to overcome financial difficulties. Moreover, most PPP projects in Vietnam are direct contracting, posing potential risks of losses to the state …
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VIETNAM BUSINESS NEWS FEB. 27
MPI proposes a draft decree on procurement bidding under CPTTP MPI proposes a draft decree on procurement bidding under CPTTP The Ministry of Planning and Investment (MPI) has summited to the Government a draft decree on amending Decree 95/2020/ND-CP providing guidelines on procurement bidding under the Comprehensive and Progressive Trans-pacific Partnership Agreement (CPTTP). According to the MPI, the draft decree will amend and supplement some articles of Decree No 95. It aims to guide State companies to execute bidding packages under the CPTTP agreement and EU-Việt Nam Free Trade Agreement (EVFTA). However, per the Government's Resolution No 190/NQ-CP on the provisional application of the UK-Việt Nam FTA (UKVFTA), Việt Nam agreed to temporarily apply the UKVFTA from January 1, 2021. The agreement was negotiated based on the principle of inheriting commitments in the EVFTA with necessary adjustments to ensure compliance with the bilateral trade framework between Việt Nam and UK. By doing so, the draft decree will avoid amending Decree 95/2020/NĐ-CP many times. The MPI has asked the Government to revise Decree No 95 as follows. The first option aims to implement international treaties on bidding and the second option is to execute the bid for public procurement of goods under the CPTTP, EVFTA and UKVFTA. To boost competitiveness in bidding, the draft decree has stipulated the implementation of bidding related to consultancy services, non-consultancy services and construction services. In the draft decree, bidding packages specified in Appendix II of the Decree No 95 show State companies will decide to allow intra-regional contractors or contractors from member countries of CPTTP to attend only. For bidding packages specified in Appendix III of Decree No 95, State companies can allow intra-regional contractors or contractors from member states of the EU and UK to bid. Regarding the intra-regional procurement bidding for the supply of goods …
