The government has approved the establishment of a credit guarantee fund for small- and medium-sized enterprises (SMEs). — Photo baotintuc.vn The Government has approved the establishment of credit guarantee funds for small- and medium-sized enterprises (SMEs) to facilitate higher chances for them to get credit for production and business. Under Decree 34/2018/ND-CP issued recently, the funds are set up by the people’s committees of provinces and cities. It will operate for non-profit purposes and under the model of one-member limited company with 100 per cent charter capital from the State. The fund must have a minimum charter capital at VND100 billion. The funds will provide credit guarantee for SMEs to get loans from lenders according to the provisions of the decree and relevant laws. According to the decree, the eligible firms are SMEs with the potential for development but are not eligible for loans in credit priority areas as stipulated in the decree. The funds will … [Read more...] about Government agrees to set up credit guarantee funds
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Government reclaims bonds used for Deo Ca tunnel project
Government bonds used for the construction of the Deo Ca tunnel project are to be reclaimed under a decision by Prime Minister Nguyen Xuan Phuc. The southern exit of the Deo Ca tunnel on National Highway 1A linking the two central provinces of Phu Yen and Khanh Hoa - VNA/VNS Photo The Lap Under the decision, VNĐ1.180 trillion (US$51.7 million) of the total VNĐ4.958 trillion ($217.2 million) in Government bonds allocated during the period of 2014-2016 by the Transport Ministry for the Deo Ca Tunnel Project, including those used to build the Co Ma Tunnel, will be collected by the Ministry of Finance. The money claimed included VNĐ716.4 billion ($31.3 million) allocated for 2016 only. The reclaimed capital will be reserved for mid-term investment for the period of 2016-2020 under the authority of a resolution passed by the National Assembly Standing Committee. The Ministry of Transport had to refund the money allocated in 2016 including the money which was not yet … [Read more...] about Government reclaims bonds used for Deo Ca tunnel project
Hanoi cracks down on fancy weddings for government employees
By Vo Hai  April 4, 2018 | 07:39 am GMT+7 A couple lie on ground as they pose for their wedding photo in Da Nang, Vietnam, March 14, 2018. Photo by Reuters/Kham Civil servants will have to celebrate their special day in relative obscurity in order to set a good example. Government employees in Hanoi have been told that they are no longer allowed to organize expensive and extravagant weddings. The new decree, issued by Hanoi's People's Committee, has sparked public attention. “How can civil servants afford fancy weddings?” one VnExpress reader commented, while another said: “It [the decision] doesn’t seem right because people should have their personal rights and freedom.” The original directive, issued in October 2012, states that government employees and Communist Party members need to set a good example when they host weddings by not going over the top. Civil servants should not host weddings with more than 600 … [Read more...] about Hanoi cracks down on fancy weddings for government employees
Aim for GDP growth of 6.7%: Government
People shop at a night market in Hang Dao Street, Hoan Kiem District in Ha Noi. Viet Nam gained decade-high GDP growth of 7.38 per cent in the first quarter of this year. — VNA/VNS Photo Vu Sinh The decade-high GDP growth of 7.38 per cent achieved in the first quarter may not be easy to replicate for the rest of the year. The government, however, will strive towards a year-on-year growth rate of 6.7 per cent. Prime Minister Nguyen Xuan Phuc said this during the monthly government meeting on Monday in Ha Noi. He asked the Cabinet to “contribute constructively” to the 2018 economic growth scenario to achieve this target, which is higher than the 6.5 per cent growth rate set by the National Assembly last year. The morning session was also amongst the rare ones, with socio-economic affairs, especially the development of growth scenarios, were discussed first instead of the usual law issues. In his opening speech, Phuc also lauded the growth of several sectors in the … [Read more...] about Aim for GDP growth of 6.7%: Government
US government seeks end to Supreme Court privacy fight with Microsoft
By Reuters  April 1, 2018 | 09:19 am GMT+7 The Microsoft logo is shown on the Microsoft Theatre in Los Angeles, California, U.S., June 13, 2017. Photo by Reuters/Mike Blake The two parties had been locked in a dispute over how U.S. prosecutors seek access to data held on overseas computer servers owned by American companies. The U.S. government's Supreme Court battle with Microsoft Corp over whether technology companies can be forced to hand over data stored overseas could be nearing its end, after federal prosecutors asked that the case be dismissed. President Donald Trump on March 22 signed a provision into law making it clear that U.S. judges can issue warrants for such data, while giving companies an avenue to object if the request conflicts with foreign law. "This case is now moot," the U.S. Department of Justice said, citing the newly passed legislation, in a 16-page court filing on Friday that requested the dismissal. The Supreme Court on … [Read more...] about US government seeks end to Supreme Court privacy fight with Microsoft