The State Capital Management Committee for State-owned enterprises (SOEs) should be empowered to take close watch of the SOEs in order to improve the management of State capital in those companies, according to economist Pham Chi Lan.—Photo ndh.vn The State Capital Management Committee for State-owned enterprises (SOEs) should be empowered to take close watch of the SOEs in order to improve the management of State capital in those companies, according to economist Pham Chi Lan. The committee was founded on February 3 after the Government’s Resolution 09/2018/NQ-CP, which represents the Government’s move to take control of State capital in SOEs. The committee is expected to administrate VND5 quadrillion (US$222 billion) worth of State capital and assets in SOEs. The Government needs to reduce the number of government agencies that manage the State capital in SOEs because those agencies have demonstrated poor operation efficiency, thus leading to State capital losses … [Read more...] about SOE governance needs improvement
Local governments not permitted to receive direct foreign loansBy Lan Nhi A bank teller handles dollar bills in this file photo. A new decree by the Government prohibits local governments from directly borrowing from international lenders - PHOTO: UYEN VIEN HANOI - A new decree by the Government prohibits local governments from directly borrowing from international lenders, or to guarantee the borrowing of organizations and individuals, along with the issuance of bonds. Under Decree 93/2018/ND-CP on management of debts of local governments, local governments can receive loans to cover their overspending with projects in medium-term public investment plans to pay off original debts, if approved by municipal People’s Councils. Local governments’ borrowing must follow regulations as set by the laws on State budget and public debt management. Also, governments needs to ensure a five-year borrowing plan, a three-year debt management program and an annual borrowing plan … [Read more...] about Local governments not permitted to receive direct foreign loans
A view of the coastal district of Van Don in the northern province of Quang Ninh. — Photo zing.vn The Government plans to develop three special economic zones, which it hopes will spearhead the country’s growth. They will be located in the coastal district of Van Don in the northern province of Quang Ninh, Bac Van Phong in the central province of Khanh Hoa and Phu Quoc Island. Currently there are no special economic zones in the country though it has 18 coastal economic zones, 27 border economic zones and 325 industrial zones. Viet Nam had established the Vung Tau–Con Dao Special Economic Zone in 1979 but shut it down in 1991. The Ministry of Planning and Investment expects the three special economic zones to contribute billions of dollars to the economy each year from 2020 onwards. The Government has agreed in principle that the special economic zones will enjoy special regulations and fewer limitations to enable them to woo investors. The draft Law on Special … [Read more...] about Government vacillates on special economic zones
Viet Nam News Translator Nguyễn Tùng received the Phan Châu Trinh Awards 2018. Launched 10 years ago by Phan Châu Trinh Culture Foundation, it honours individuals and groups for their contributions to culture, translation, research and studies. Translator Tùng won the prize for his work in anthropology including the book Essai sur le don. Forme et raison de l’échange dans les sociétés archaïques (An essay on the gift: the form and reason of exchange in archaic societies) by Marcell Mauss and Claude Levi Strauss’s Le Totémisme aujourd’ hui (Mythes et Religions). Born in Bảo An Village, Điện Quang Commune, Điện Bàn District in central province of Quảng Nam, Tùng had a scholarship for studying history in France in 1963. After graduating from Sorbonne University he taught at Paris Diderot University, also known as Paris 7. He has worked at … [Read more...] about It needs national policy for translation
VietNamNet Bridge - The government needs to continue its efforts to reform the business environment in order to have more billionaires, experts say. Chair of Hoa Phat Group Tran Dinh Long Four Vietnamese are on Forbes’ 2018 list of the world’s billionaires. These include two familiar names – Pham Nhat Vuong and Nguyen Thi Phuong Thao, and two new names – Tran Ba Duong, chair of Truong Hai Automobile and Tran Dinh Long, chair of Hoa Phat Group. Four Vietnamese are on Forbes’ 2018 list of the world’s billionaires. These include two familiar names – Pham Nhat Vuong and Nguyen Thi Phuong Thao, and two new names – Tran Ba Duong, chair of Truong Hai Automobile and Tran Dinh Long, chair of Hoa Phat Group. Dang Dinh Dao, former head of the Institute for Economic & Development Studies, said the appearance of billionaires reflects the country’s high and stable economic growth in recent years. RELATED NEWS Tran Dinh … [Read more...] about What does Vietnam need to do to produce more billionaires?