Can van luc

The land will be handed over to the Van Don Infrastructure Investment and Development Limited Liability Company – the investor of the project, according to Vu Van Hop, Chief of the Office of the National Assembly delegation, the provincial People’s Council and People’s Committee. The 80.2-km highway is designed with four lanes and a maximum speed of 100 kilometres per hour for vehicles, running through Van Don, Tien Yen, Dam Ha and Hai Ha districts and Mong Cai city, with total investment of over 11.1 trillion VND (477.3 million USD). Work on the route began in April 2019, but earlier in March 2018, Quang Ninh had begun land clearance, aiming to clear nearly 527 hectares of land. A total of 326 households and 320 tombs had to be relocated to make way for the road. The total land clearance cost was nearly 1.5 trillion VND (64.5 million USD) sourced from the province’s corresponding capital. The compensation for land clearance was implemented publicly and … [Read more...] about Quang Ninh completes land clearance for Van Don – Mong Cai highway

Instead of borrowing foreign currency from banks, firms have to buy it from banks from October 1 this year (Photo: VNA) Hanoi (VNS/VNA) - Experts suggested firms use more derivative instruments, such as futures and forward contracts, to minimise exchange rate risks when they can no longer borrow the US dollar from commercial banks, starting early this month. According the central bank’s new regulation, banks have been banned from lending in foreign currency to pay for imports since October 1 this year in a bid to limit dollarisation in the local economy. From that date, instead of borrowing foreign currency from banks, firms have to buy it from banks. The regulation applies to both domestic banks and branches of foreign banks in Vietnam’s lending to anyone who is a Vietnamese resident. Previously, importers were allowed to take out loans in foreign currencies to pay for imports if they could prove they can generate enough foreign currency from their production and … [Read more...] about Derivative instruments recommended to minimise exchange rate risks

Instead of borrowing foreign currency from banks, firms have to buy it from banks from October 1 this year (Photo: VNA) According the central bank’s new regulation, banks have been banned from lending in foreign currency to pay for imports since October 1 this year in a bid to limit dollarisation in the local economy. From that date, instead of borrowing foreign currency from banks, firms have to buy it from banks. … [Read more...] about Firms advised to use derivative instruments to minimise exchange rate risks

Pilgrims offer incense to General Tran Hung Dao. (Photo: VNA) Thousands of local residents and tourists attend the event to learn about Vietnam’s culture and history. Two festivals are held each year at the Con Son-Kiep Bac relic site – one in the spring and one on the autumn. The autumn festival commemorates the death anniversary of 13th century national hero General Tran Hung Dao, who led Vietnam to victories over Mongol invaders, and the death anniversary of 15th century national hero and strategist Nguyen Trai. Since 2006, the festival has reenacted all the original rituals and performances and become a major spiritual event in Hai Duong province. Nguyen Thi Thuy Lien described the rituals: “An incense offering occurs on the 10th day of the eighth lunar month at Van and Kiep village, whose villagers worship General Tran Hung Dao and ask for his permission to start the autumn festival. Pilgrims are welcomed to pay tribute to the General on … [Read more...] about Con Son-Kiep Bac Autumn Festival honors national heroes

Illustrative image (Photo: VNA)     Hanoi (VNA) – Experts from the Vietnam Institute for Economic and Policy Research (VEPR) have forecast that economic growth will reach 7.26 percent for the fourth quarter and 7.05 percent for 2019, compared to 6.6 – 6.8 percent as assigned by the National Assembly. During a conference on October 10 to announce the macro-economic report, the VEPR reviewed the second-quarter macro-economic performance and quoted statistics from the General Statistics Office as saying that the Vietnamese economy grew by 7.31 percent in the third quarter. Economist Can Van Luc highlighted bright spots in exports, improved competitiveness and lesser reliance on banking credit. According to Luc, credit contributed to 57 percent of the total social investment during the 2016 – 2017 period, which was reduced to about 46 percent in 2018 and in the first nine months of 2019, proving that private capital and foreign direct investment have … [Read more...] about Vietnam’s economic growth predicted to be higher than target