Deputy PM: Don't get trapped by bad elements Deputy Prime Minister Vu Duc Dam late last week called for the public, particularly patriotic workers at industrial parks, to stay vigilant against ill-intentioned elements. "The people of Vietnam should be vigilant and carefully consider when and where they need to express patriotism to produce the best results," he told scientists at the Ministry of Science and Technology office in Hanoi on Saturday. "We should help workers and other ordinary people understand that they might get trapped by bad elements. Public order and safety must be guaranteed when they display their patriotism and more importantly, the image of a peace-loving country like Vietnam must be protected." … [Read more...] about Social News Headlines 20/5
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Social News Headlines 4/4
Strategy on marine environment protection announced A strategy for sustainable exploitation and use of natural resources and protection of the marine environment by 2020 with a vision to 2030 was officially announced at a ceremony in Hanoi on April 2. Speaking at the event, Deputy Minister of Natural Resources and Environment Tran Hong Ha said that the plan, approved by Prime Minister Nguyen Tan Dung last year, will act as an important foundation for Vietnam to effectively utilize its rich marine resources and environment. Ha also called on ministries and international organisations to contribute opinions to help reach targets set in the strategy, so as to turn Vietnam into a country with a strong sea-based economy while preserving the environment. From now to 2020, Vietnam strives to provide more timely and trusted predictions about disasters and climate change, minimize the degradation of natural resources and contain the increase of environmental pollution in coastal … [Read more...] about Social News Headlines 4/4
BUSINESS IN BRIEF 4/9
Major wood processing factory operational in Nghe An province A major wood processing factory of Vietnam’s TH Group was inaugurated in the industrial park of Nghia Dan district, central Nghe An province, on September 3. Politburo member and Deputy Prime Minister Vuong Dinh Hue attended the inaugural ceremony. The factory, constructed from February 2013 with the consultation of Bac A Bank, is part of a 300- million-USD project on building a wood processing factory and sustainably developing forests in Nghe An. During phase I of the project, about 100 million USD was spent on building wood slat and medium-density fibreboard (MDF) processing lines. They have a respective capacity of 12,000 cubic metres and 130,000 cubic metres per year. Phase II will have a total investment of 200 million USD to raise the lines’ output to 40,000 cubic metres and 400,000 cubic metres each year, respectively. The factory is equipped with advanced and “green” technologies which … [Read more...] about BUSINESS IN BRIEF 4/9
BUSINESS IN BRIEF 27/2
EVN pumps VND9.3 trillion into electric grid The National Power Transmission (NPT) said it has invested VND9.3 trillion to build a 500kV electric grid connecting five provinces and Ho Chi Minh City. The 437km network, which will spread across the provinces of Gia Lai, Dac Lak, Dak Nong, Binh Phuoc, Binh Duong and Ho Chi Minh City, will increase the electric back-up capacity in the southern part of the country for the 2014-2015 period, NPT said. It will also boost power connectivity within the country and throughout Viet Nam, Laos and Cambodia after 2015, the company, which is a subsidiary of Electricity of Viet Nam, said. Meanwhile, the Project Management Board of Central Power Projects (AMT), also a subsidiary of EVN, will act on behalf of NPT to implement the project. While the equipment side of the project will be funded by the Asia Development Bank (ADB), the installation and ground clearance will be financed by Viet Nam Bank for Industry and Trade (Vietinbank) and Viet … [Read more...] about BUSINESS IN BRIEF 27/2
BUSINESS IN BRIEF 30/1
Vietnam currency seen stable this yearStrong remittance inflows, rising foreign exchange reserves and anti-dollarization efforts will help stabilize the exchange rate between the U.S. dollar and the Vietnam dong this year, according to news website An Ninh Tien Te.In a report on the economic outlook in 2018, the National Financial Supervisory Commission (NFSC) said the weak U.S. dollar made the dollar-dong exchange rate relatively stable last year. In late 2017, the USD Index dropped by 9.1% compared to early 2017 although the U.S. Federal Reserve (Fed) had hiked interest rates several times.Besides, the interest rate differential between Vietnam dong and U.S. dollar was kept at a high level of 6-7% and foreign currency mobilization increased by only 4% compared to end-2016.According to NFSC, a large amount of foreign currency was sold or changed into Vietnam dong. Large trade surplus, rising foreign direct investment, consumer optimism and macroeconomic stability also helped the State … [Read more...] about BUSINESS IN BRIEF 30/1