Vietnam’s resources are scarce and are not being used efficiently, experts say. Addressing the mobilization and use of resources in economic reform in Vietnam, Nguyen Dinh Cung, former head of the Central Institute of Economic Management (CIEM), said if Vietnam can use resources effectively, it would be able to gain GDP growth rates of 9-10 percent per annum, the rates that Japan and South Korea gained in their economic take-off period. In 2000-2015, FIEs enjoyed a trade surplus, while the domestic sector witnessed z trade deficit. FIEs’ export proportion increased rapidly from 57 percent to 67 percent, but its contribution to the added value in GDP has only risen by 3 percent over the last 10 years. In 2000-2015, FIEs enjoyed a trade surplus, while the domestic sector witnessed z trade deficit. FIEs’ export proportion increased rapidly from 57 percent to 67 percent, but its contribution to the added value in GDP has only risen by 3 percent over the last 10 … [Read more...] about Vietnam needs to use resources more effectively
Balancing business and personal needs
CSR Promoting environment-minded business By Thanh Ha Monday, Sep 2, 2019,09:40 (GMT+7) Promoting environment-minded business By Thanh Ha Nestlé Vietnam cooperates with mGreen to help students collect and classify waste at source For Nestlé Vietnam, environmental protection has become imperative, at least in its recent agenda of activities. The company, better known for its coffee processing and trading businesses, including its corporate social responsibility program to support coffee farmers across the country, has strongly shifted its community-related focus to the environment recently. Numerous initiatives have been taken by Nestlé Vietnam to do away with waste, especially plastic waste, as the company has vigorously collaborated with all stakeholders for a common goal of keeping the environment clean, green and beautiful, says Ganesan Ampalavanar, managing director of Nestlé Vietnam. “We … [Read more...] about Promoting environment-minded business
Prime Minister Nguyen Xuan Phuc (R) and USABC Chairman Keith Williams (Photo: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has affirmed the Vietnamese government’s determination to reform the country’s business environment and provide all possible support for foreign enterprises, including those from the US, to do business in Vietnam. During a reception in Hanoi on December 12 for a delegation from the US-ASEAN Business Council (USABC) led by its Chairman Keith Williams, PM Phuc said he himself and ministers have always paid attention to approving and accelerating the implementation of major US projects in Vietnam. Lauding the US as one of the most important partners of Vietnam in various areas, he said Vietnam is always sincere, straightforward and open with US enterprises. Mentioning Vietnam’s goal of achieving a balanced trade with the US, the PM suggested that the USABC should play a greater role in promoting bilateral ties and the … [Read more...] about PM promises to create optimal conditions for US enterprises
Minister of Planning and Investment Nguyen Chi Dung (Photo: VNA) Hanoi (VNS/VNA) - Minister of Planning and Investment Nguyen Chi Dung talks to the Vietnam News Agency on the Government’s resolve to help private enterprises become a mainstay in the national economy. A: What has the Ministry of Planning and Investment advised the Government regarding the private sector? Q: The 5th Resolution of the 12th Party Central Committee considers the private sector an important driving force in the national economy. More recently, the Government has listed the task as an important motivation for the nation to advance in 2019. To achieve this goal, the Ministry of Planning and Investment has advised the Government to issue Resolution 02 on the improvement of the investment environment and slash many more business conditions. We hope Resolution 02 will be strictly implemented by all ministries, sectors and localities. We should also raise our awareness on the role of the private … [Read more...] about Minister: Private economy a driving force in Vietnam
Hanoi (VNA) - Resolution No.27-NQ / TW 2018 states that by 2020,the minimum wage must ensure minimum living standard of employees. Will the results of the National Wage Council’s meeting make this goal reachable? The National Wage Council convenes the first meeting, discussing regional minimum salary hike 2020 (Photo: VietnamPlus) On June 14, the National Wage Council will convene its first 2019 meeting to discuss raising the minimum wage. 7-8 percent wage hike proposal Talking with reporters at the beginning of the meeting, deputy head of the Vietnam General Confederation of Labour (VGCL)’s Department of Labour Relations Le Dinh Quang said the 2018 minimum wage negotiations helped raise 2019’s minimum wage, meeting about 95 percent of the minimum living standard for employees. “The economic landscape for 2019 is favourable for a minimum wage hike by 2020. 'Filling' the gap between the minimum wage and the minimum living standard is VGCL’s … [Read more...] about National Wage Council’s meeting: Is salary hike 2020 ‘reachable’?