Capital disbursement

According to the Ministry of Finance, the disbursement of the state budget capital as of the end of July stood at nearly $8.1 billion, accounting for 34.47 per cent of the yearly plan and a slight on-year reduction. Of this, one centrally-run agency and 11 localities reported disbursement at more than 50 per cent, 17 ministries and agencies have reported less than 10 per cent, and the remaining met the national average. Some major infrastructure projects are delayed and costs are only going to go up in that case, Le Toan Specifically, in Ho Chi Minh City, the disbursement of public investment in the first seven months accounted for about 15 per cent of the total allocated capital or almost $1.4 billion. This figure includes $108 million from the central budget and $1.28 billion from local funds. Many important works in the city have yet to expense anything, including one project for green traffic development, a water improvement initiative in the Tau Hu-Ben Nghe-Doi-Te … [Read more...] about Direction for disbursement tightened after mixed results

A strong business community will build an independent and highly resilient economy. Localities are expected to further create a favorable environment for business operation, especially in simplifying administrative formalities and avoiding petty corruption. Prime Minister Pham Minh Chinh at the conference. Photos: Nhat Bac Prime Minister Pham Minh Chinh stressed the view during a conference between the Government’s leader and business community on August 11, which drew the participation of 1,200 delegates from a business association and local companies. According to Chinh, more than two years since the outbreak of the Covid-19 pandemic, Vietnam has now put the situation under control and maintained positive growth. Vietnam’s GDP  during the six months expanded by 6.42%, higher than the 5.74% rate in the same period last year, and equivalent to the growth rate recorded in the pre-pandemic period 2016-2019 (6.38%). In addition, Chinh also pointed out high … [Read more...] about PM urges favorable environment for businesses

Hanoian consumers can enjoy many specialties at No. 489 Hoang Quoc Viet Street, Cau Giay District. Chi Lang custard apple, a special fruit of the northern province of Lang Son, is the highlight of a trade promotion week being held at the Vietnam Agricultural Exhibition Center in Hanoi's Hoang Quoc Viet Street till August 16. Local consumers are shopping at the fair. Photo: moit.gov.vn Chi Lang custard apple has been granted a protection certificate by the National Office of Intellectual Property and is recognized in the Top 50 famous fruit specialties in Vietnam. The capital city’s consumers also have the opportunity to shop for many specialties and taste local cuisine with quality assurance, food hygiene and safety from localities nationwide. The event, organized by the Agricultural Trade Promotion Center under the Ministry of Agriculture and Rural Development (MARD) in collaboration with the People's Committees of Hanoi and Lang Son Province, features 30 … [Read more...] about Promotion week of Chi Lang custard apple opens

The virtual conference takes place in all cities and provinces According to the Ministry of Education and Training, the average teacher/class ratio has not met the requirements under the new education program initiated in 2018. Currently, the education sector still lacks teachers of English and Informatics for primary schools and Music and Fine Arts subjects for high schools when applying for the General Education Program 2018 from the school year 2022 - 2023. At the conference, leaders of the education sector in cities and provinces continued moaning about the problem of teacher shortage. Mr. Tran The Cuong, Director of the Hanoi Department of Education and Training in the capital city of Hanoi proposed that the Government should allow schools with large numbers of students to have three vice principals. He recommended that the government should allow schools to sign working contracts with professional teaching as well as to allow schools in Hanoi to raise the building block … [Read more...] about Places short of teachers due to low wages

The Hanoi event saw the participation of Dinh Tien Dung, Politburo member and Secretary of the Hanoi Party Committee, and Anouphap Tounalom, Secretary of the Lao People's Revolutionary Party (LPRP) Central Committee, and Secretary of the Party Committee and Chairman of the People’s Council of Vientiane. Nguyen Manh Quyen, Vice Chairman of Hanoi People’s Committee, said relations between Hanoi and Vientiane and other localities in Laos have been promoted across all channels, with effective projects in economy, healthcare, education, agriculture, military and people-to-people exchanges. In the first half of this year, Hanoi exported 74.8 million USD worth of goods to Laos, making up 0.9% of the city’s total export value, while importing 98.3 million USD worth of goods from the neighboring country, or 0.48% of Hanoi’s accumulative import revenue. Noting the all-round cooperation between Hanoi and Vientiane, the official said the two capital cities have supported each other in … [Read more...] about Hanoi, Vientiane promote cooperation in investment, trade, tourism

The Ministry of Finance (MoF) is working on perfecting governmental Decree No.153/2020/ND-CP which regulates privately-placed corporate bond issuances. One of the highlights of the amended decree is gearing individual professional investors’ attention to bond products of better quality, mandating enhanced conditions from service providers, and adding regulations about the rights and responsibilities of market supervisory bodies. The MoF is working on perfecting regulations on corporate bond issuance and trading Accordingly, in light of the proposed amended Decree, individual professional investors need to possess a bond value touching VND1 billion ($43,470), stock investment value reaching VND2 billion ($86,950), and an account value (not using margins) maintained at least six months. In addition, investors must clearly understand the conditions, clauses, and risks associated with the bond investment, and ensure to fully abide by regulations before engaging in … [Read more...] about Constituting a healthy corporate bond market

At the conference on August 11, MPI Minister Dung said that thanks to the control of the pandemic and the maintenance of macroeconomic stability, the business sector has reported a positive recovery recently. As of July, the whole country had about 871,000 operating enterprises with tax incurred, an increase of nearly 13 per cent compared to 2021. In the first seven months of 2022, the number of enterprises entering and returning to the market, as well as additionally registered capital into the economy, increased sharply. The number of enterprises entering and re-entering the market was over 130,000 enterprises, an increase of 26.8 per cent on-year, 1.4 times higher than the number of enterprises withdrawing from the market. The total registered capital added to the economy in the first seven months of 2022 reached over $143 billion, an increase of over 37 per cent on-year. According to reports from business associations, the market has recovered over 75-85 per cent compared … [Read more...] about Utilising every opportunity to grow and overcome challenges

Many streets in Hanoi were turned into 'rivers' as a heavy downpour battered the Vietnamese capital city on Friday morning. The torrential rain started at around 5:20 am on Friday, according to the National Center for Hydro-meteorological Forecasting. Thuy Khe Street in Hanoi is turned into a 'river,' August 12, 2022. Photo: Nam Tran / Tuoi Tre The downpour resulted in serious flooding on Thang Long Avenue, Le Trong Tan Street, and Thuy Khe Street, among others. Knee-high rainwater was also recorded on such roads as Pham Hung, Nguyen Hoang, and Ton That Thuyet. The situation posed a lot of challenges for local residents during the morning commute as multiple vehicles broke down. Serious flooding on Thang Long Avenue in Hanoi, August 12, 2022. Photo: Thanh Chung / Tuoi Tre According to the National Center for Hydro-meteorological Forecasting, rainfall of 20-60 millimeters dampened northern localities as well as north-central Thanh Hoa … [Read more...] about Heavy downpour turns Hanoi streets into ‘rivers’

Bitexco Group’s Chairman Vu Quang Hoi and Representative of The Dwight Schools, Chancellor Stephen Spahn, signed an agreement to establish the international Dwight School Hanoi. Photo: Bitexco Group Bitexco, one of the leading multidisciplinary economic groups in Viet Nam, with a history of 37 years operating in the fields of real estate, hydropower, construction, financial investment, mining, oil and gas, has expanded its activities to education. On August 11, the Bitexco Group and The Dwight Schools, a leading global network of International Baccalaureate (IB) World Schools, officially formed a partnership to establish the international Dwight School Hanoi, which the group says will realise its ambition to enhance the quality of education and educate the future generation of Viet Nam. The future school will combine the 150-year legacy of excellence from Dwight, a pioneer in the International Baccalaureate program, to deliver the most advanced co-educational program from … [Read more...] about Bitexco develops international school in Ha Noi

Knowhow of a perfect Vietnamese traditional ‘ao dai’ comes to the tailors in Hanoi's suburb village almost naturally, contributing to enhancing the beauty of the Vietnamese women. For hundreds years, many generations of tailors in Trach Xa village have contributed to preserving and promoting the charm of the traditional Vietnamese costume. Hundreds-years-old craft village Charming Vietnamese girls in ao dai dress. Photo: Thanh Hai Legend has it that Emperor Dinh Tien Hoang fell in love with a beautiful girl of Trach Xa during his visit to the village. She became his wife and used her creativity to make outfits for the royal court. Trach Xa Village in Ung Hoa District, 60km away from Hanoi’s center, has been well known for hundreds of years for specializing in traditional ao dai making. But artisan Nghiem Van Dat says that the mother of this trade is Nguyen Thi Sen, who was very young when her sewing skills were put at the service of the royal family … [Read more...] about [Uniqueness of Hanoi’s craft villages] Trach Xa villagers: Born to be skillful ‘ao dai’ tailors