Authorities under land laws

Japan is now the largest ODA partner to Vietnam. Vietnam and Japan on May 21 signed three agreements worth 61 billion yen (US$442 million) to finance official development assistance (ODA) projects in Vietnam. The meeting between Prime Minister Pham Minh Chinh and his Japanese counterpart Kishida Fumio on May 21. Photo: VGP The ODA projects aimed at socio-economic development and recovery in the post-pandemic stage, worth 50 billion yen (US$362.4 million), development of public transport in the southern province of Binh Duong, and development of agricultural facilities in Tay Nguyen (Central Highlands) province of Lam Dong. At the signing ceremony, Vietnamese and Japanese prime ministers agreed to discuss the potential of new-generation Japan-funded ODA projects. Accordingly, Vietnam will receive flexible concessional loans with more incentives to serve the nation’s mass infrastructure development projects in urban railroad construction, green … [Read more...] about Vietnam, Japan ink ODA deals worth US$442 million

Do Van Su, deputy director general of the Foreign Investment Agency under the Ministry of Planning and Investment Last week, Do Van Su, deputy director general of the Foreign Investment Agency under the Ministry of Planning and Investment, said the quality and quantity of foreign-headed projects have improved in recent years. “Although the number of large-scale projects has decreased due to the impact of many factors, the quantity of projects overall sees an average increase of 16-19 per cent per year. The average capital of projects is $16 million,” he said. Statistics published by Su’s agency showed that in the first four months of 2023, Vietnam attracted 750 newly registered projects, 386 added-capital projects, and 1,044 paid-in capital, signifying increases of 65.2, 19.5, and 1.8 per cent on-year, respectively. The results are deemed positive in the context that global foreign investment capital inflow is forecasted to dip this year. In addition, these positive … [Read more...] about Quality and quantity advances sought

Since last October, Pham Manh Hung has been struggling to feed his five-member family. Hung has been forced into a reduction of working hours, while his wife last worked for an apparel company in Hanoi almost a year ago. For most of 2022, all 1,500 workers at Hung’s company in Hanoi’s Quang Minh Industrial Park (IP), producing furniture products exported to Europe and Japan, operated at full speed with many export orders coming from foreign partners. Prolonged economic difficulties will inevitably mean that some people will be squeezed out of work, photo Le Toan “However, over the past seven months, the company has landed only several orders. So its leadership has been seeking more markets for its products in order to create employment and retain workers,” Hung said. “They don’t want to let go of workers and instead reduce the working hours by two hours a day.” Meanwhile, his wife, Nguyen Thi Mo, had been working for a Japanese firm in the capital’s Thang Long IP … [Read more...] about Nation braced for dim job prospects

Under a draft report submitted to the National Assembly (NA) Standing Committee, the government has suggested that more new fiscal policies, especially on taxes and fees, be soon designed and enacted to assist enterprises and labourers, therefrom helping to ensure macroeconomic stability and social security. The report will be discussed by the NA over the next few weeks before specific solutions are crafted. Short-term policy support complementing 2025 targets, Photo Le Toan “There will be more solutions to help the public and enterprises have access to bank loans at favourable rates,” the report stated. “In addition, the government will continue to drastically and effectively implement already-promulgated solutions to support enterprises and production and business activities such as Resolution No.58/NQ-CP on policies and solutions to support enterprises to adapt, recover, and develop sustainably towards 2025.” Under Resolution 58, the government requested the … [Read more...] about Short-term policy support complementing 2025 targets

When she started working, the now 32-year-old woman from Nghe An thought her salary as a teacher was "fine" even though it wasn’t high. But after she got married and gave birth, unprecedented costs appeared. Things got even harder after Thu and her husband took out a mortgage from the bank to buy a new house. Their accumulated income, which was around VND 15 million, was not even enough for their monthly living costs. At the start of this year, Thu applied for work in Japan. Her parents and parents-in-law were initially against the idea, however, when Thu persuaded them that her family’s financial situation could get even worse with a second child, they agreed. Ngoc Lien, 25, from Bac Giang Province, has just completed her documents to apply to work in Taiwan. She is expected to be a food processor for a monthly salary equivalent to VND 30 million. Lien graduated from a university in Hanoi and majored in English. Over the past three years since graduation, she hasn’t been able to … [Read more...] about Graduates put degrees aside for migrant work overseas

Nguyen Thien Nghia - Deputy director, Authority of IT and Communications Industry, Ministry of Information and Communications Foreign-invested enterprises in phones, computers, and components are dominating major export groups. In the last five years, the electronics industry has contributed greatly to the country’s total export turnover of electronics, making a great contribution to the balance of foreign exchange and trade balance of the country. In 2021, the export of electronic hardware for the first time exceeded the level of $100 billion when it achieved export revenue of $121.8 billion, a growth of 27.4 per cent, the highest level in the recent five years. Foreign investment has also contributed to enabling Vietnam to become one of the world’s major electronics industry development centres. Vietnam’s electronics industry has lured in large groups such as Samsung, Foxconn, LG, Panasonic, Intel, Electronics, Nokia, and others. Vietnam is ranked second in the world in … [Read more...] about Great opportunities for investment in Vietnam’s ICT

SINGAPORE - Singapore Prime Minister Lee Hsien Loong has ordered an investigation into the circumstances around the rental of state-owned homes in an exclusive location to two cabinet ministers following questions from the opposition. The matter has prompted comment in the wealthy city-state, which has long prided itself on a government free from corruption, with the annual salaries of many cabinet ministers exceeding S$1 million ($755,000) to discourage graft. Lee said the review by a senior minister, whose results will be made public before lawmakers take up the issue in July, would establish whether "proper process" was followed in the rental of the colonial-era bungalows and if there was wrongdoing. "This must be done to ensure that this government maintains the highest standards of integrity," Lee said in a statement. This month, opposition politician Kenneth Jeyaretnam questioned how the law and home affairs minister, K Shanmugam, and the foreign minister, Vivian … [Read more...] about Singapore PM orders probe into ministers’ homes amid public anger

Deputy Defense Minister cum Chairman of the MND’s Committee for Population, Family and Children Senior Lieutenant General Le Huy Vinh chaired the event. The ceremony was also attended by Deputy Chief of the General Department of Political Affairs (GDP) Lieutenant General Nguyen Van Gau, and Deputy Chief of the General Staff (GS) Senior Lieutenant General Phung Si Tan. Addressing the ceremony, General Vinh affirmed that over the past year, the Central Military Commission, MND leaders and chains-of-command in the military have actively taken care of the family protection and children education work with good results. Annually, thousands of children with disabilities, children in extremely difficult circumstances, children who are martyrs’ relatives and orphans have received meaningful support from the MND’s Children Protection Fund. Meanwhile, thousands of troops’ households in difficult circumstances and policy families have been supported to develop economy, among others. In order … [Read more...] about Activities of defense leaders at military units

The corporate bond market is a big source of capital for the economy. — Photo vietnamplus.vn Several measures have been suggested at an online seminar held by the Government Portal on Sunday to help the corporate bond market maintain its stability and operate in line with law to aid economic growth. The corporate bond market is a big source of capital for the economy. In the latter half of 2022, a “psychological” shock was recorded in the private placement segment following many violations uncovered by authorities. The Government, the Prime Minister and management agencies have made many important decisions to stabilise the market, ensure its compliance with law, and enhance people’s trust to support the economy. Speaking via videoconference, Assoc. Prof. Dr Vu Minh Khuong, a lecturer at the Singapore-based Lee Kuan Yew School of Public Policy, said to help enterprises avoid committing violations, their leaders should gain a thorough understanding of corporate governance, … [Read more...] about Measures suggested to guarantee corporate bond market’s stability