Long term investments accounting

An overview of the meeting (Photo: VNA) Hanoi (VNA) – The impressive economic growth in the first seven months of this year reflects the efficiency of the policies that have been applied recently, stated Minister of Planning and Investment Nguyen Chi Dung at the meeting between the Prime Minister and businesses that opened in Hanoi on August 11. The minister said that international organisations have shown optimism about the Vietnamese economy, rating the country’s long-term credit as "stable" and "positive". Many economists held that the Vietnamese economic resilience is relatively good currently, he added. The official cited a recent survey as showing that in the second quarter of this year, 70-80% of total businesses highly valued the effectiveness of the Government’s support to businesses amid the COVID-19 pandemic , especially those in taxation. As of the end of July, the country had 871,000 companies, up nearly 13% over 2019. In July alone, more than 130,000 … [Read more...] about Government’s economic stimulation policies prove effective: Minister

Chairing at a Government to Business (G2B) conference on August 11, PM Chinh said thanks to tireless efforts over the last two years, Vietnam has managed to contain the COVID-19 pandemic, with stable macro-economy, inflation under control and positive economic growth. He asked for more efforts to improve the business and investment environment and accelerate the reform of administrative procedures; build industry strategy and planning; and develop socio-economic infrastructure, towards creating favorable for businesses to build long-term and sustainable business, production and investment orientations. Attention should be paid to renewing business and production models, restructuring enterprises in association with digital transformation and innovation in order to find new opportunities for businesses, he said. Business associations must uphold their role in supporting their member enterprises, especially promoting connection activities to help businesses overcome difficulties, … [Read more...] about PM asks for greater efforts to promote sustainable recovery

A view of DEEP C Quang Ninh Industrial Park in the north-eastern province of Quang Ninh. — Photo courtesy of the firm The Ministry of Planning and Investment (MPI) is drafting a Government resolution on measures to increase the efficiency of IPs and EZs. It said IPs and EZs account for 50 per cent of the country’s total export value. However, the ministry pointed to a number of problems related to the IPs and EZs, including their unsustainable development in different aspects. Living conditions of local communities where the zones are located have not seen remarkable improvements. In the draft resolution, the MPI suggested the building of a Law on IPs and EZs in 2022, and the issuance of a Prime Minister’s decision on the co-ordination mechanism among ministries, sectors and localities in managing IPs and EZs. The draft also looked to stipulate the maximum acreage of an IP and an EZ, as well as define orientations in investment attraction to match the advantages of each … [Read more...] about Resolution on IPs and EZs management drafted

Police officers on May 18, 2009 announced a decision to deport Viet Tan member Nguyen Van Be, a Vietnamese in Australia. (Photo: VNA) Hanoi (VNA) – The Viet Tan terrorist organization has made use of the internet, especially social media, to conduct propaganda and entice people to join its disguised groups on the internet. Under the cover of making social criticism and struggling for democracy, national sovereignty and territorial integrity, those groups in fact spread distorted information on the Party and State’s policies and guidelines in order to spur the hostile attitude among a part of the people. Making use of East Sea situation to undermine the administration Recently, using the complicated developments in the East Sea after China brought its survey vessels into Vietnam’s exclusive economic zone, Viet Tan coordinated with other reactionary groups and associations to hold a series of demonstrations in many countries in order to incite its members and political … [Read more...] about What’s new in Viet Tan’s schemes?

Illustrative image (Source: VNA) HCM City (VNS/VNA) - As tourism continues to revive, the hotel and tourism industry is suffering from challenges in recruiting qualified human resources post pandemic, industry players warned. Speaking at a seminar on August 9 in HCM City, Dr Nguyen Anh Tuan, director of the Institute for Tourism Development Research, said there was a lack of high-quality staff in the industry. Vu The Binh, chairman of the Vietnam Tourism Association , said that human resources were a weak point for the industry even before the pandemic. “Efficient, hard-working, and resourceful human resources are the backbone of any successful business. It is even more so in the case of the hotel industry.” Successful hotel operations are sustained by customer-oriented and hard-working employees who have adequate competencies, he added. A large number of hotels and resorts stopped operation during the two-year pandemic, and coming back could prove challenging, he … [Read more...] about High-quality human resources key to sustainable tourism industry

Phan Van Mai, Chairman of the HCMC People's Committee (right) hands over a souvenir to Tan See Leng, Singapore’s Minister for Manpower and Second Minister for Trade and Industry. (Photo: VNA) Chairman of the HCMC People's Committee Phan Van Mai hosted a reception for Tan See Leng, Singapore’s Minister for Manpower and Second Minister for Trade and Industry on August 11. He affirmed that the cooperation between HCMC and Singapore not only brings benefits to the city but also is an important factor contributing to the common development of Vietnam-Singapore relations. At the event (Photo: VNA) Along with potential fields such as smart city building, urban management and green economy, the city expects to strengthen collaboration and share experience in startup development, helping the city become an innovative start-up center of the country and the region, the official said. He hoped that Singapore will share experience to improve the dialogue mechanism between the … [Read more...] about HCMC, Singapore enhance cooperation on human resources development

At the 14th session of the NA Standing Committee (Photo: VNA) Hanoi (VNA) – The National Assembly (NA) Standing Committee looked into the inclusion of the draft Law on Management and Use of State Capital Invested in Production and Business at Enterprises (amended) into the law and ordinance building programme in 2023, during its 14th session in Hanoi on August 11. The amendment aims to perfect institutions and ensure the stability of the legal environment for the investment of state capital in production and business at enterprises, as well as the management work, said Minister of Justice Le Thanh Long . It is also intended to raise the operational efficiency of State-owned enterprises, promoting their key role in the national economy, he continued. The committee agreed with the proposals to amend the law and include the bill into the 2023 programme. However, it asked the government  to quickly complete the proposal dossier to be submitted to upcoming meetings. … [Read more...] about NA Standing Committee debates use of state capital at enterprises

Foreign tourists visit the Independence Palace in HCM City on August 8. (Photo: VNA) HCM City (VNS/VNA) - Strict visa policies and a shortage of human resources and infrastructure in the tourism sector have stymied recovery of the travel industry, and the target of five million international arrivals this year could be out of reach, industry players have warned. Domestic travel has seen a strong rebound whereas international tourism, with a target of five million arrivals this year, remains in a slump, said Vu The Binh, Chairman of the Vietnam Tourism Association. Domestic visitor numbers topped 71.1 million in just the first seven months of this year against a full-year target of 60 million, he said. In the same period there were only 733,000 international visitors, or 8% of pre-pandemic numbers, he told a two-day programme titled ‘Lien Ket Suc Manh Du Lich Vietnam Nam 2022’ (Power of Vietnam Tourism Linkages) that ended in Ho Chi Minh City on August 9. Though … [Read more...] about Vietnam mulls ways to boost inbound travel

Over the past time, in the spirit of “forgetting the past, looking to the future,” Vietnam and the U.S. have taken various effective and practical measures to heal the wounds of war. However, experts have evaluated that those efforts are not enough as around 3 million Vietnamese people are still being affected by AO/dioxin, and next generations of the Vietnamese people are being affected by the consequences of the disaster. In recent article posted on usip.org, Dr. Andrew Wells-Dang, who leads the Vietnam War Legacies and Reconciliation Initiative at United States Institute of Peace (USIP), evaluated that AO and other toxic chemicals that the U.S. sprayed over Southern Vietnam have left long-term and severe consequences on the Vietnamese people. From 1961 to 1971, the U.S. troops sprayed 80 million liters of AO, which contained about 400 kg of dioxin, over more than 3 million hectares of forest in South Vietnam. More than 4,8 million people were directly exposed to toxic chemicals, … [Read more...] about Overcoming war legacy by practical deeds

Accordingly, at the end of 2021, the People's Committee of HCMC issued a decision to recognize the auction-winning results for the Dream Republic Joint Stock Company (lot No.3-5), Sheen Mega Joint Stock Company (lot No.3-8), Binh Minh Investment and Trade Company Limited (lot No.3-9), and Viet Star Real Estate Investment Company Limited (lot No.3-12). The Tax Department of HCMC also issued notices of land-use fees and registration fees for four companies to pay to the State budget. Binh Minh Investment and Trading Company Limited paid VND145.7 billion, and Viet Star Real Estate Investment Company Limited paid VND588.5 billion, or a 20 percent deposit. However, after that, they sent written requests to stop and terminate the purchase contract of the auctioned land. Sheen Mega Joint Stock Company paid a deposit of VND203.7 billion and was forced to deduct money from its bank account because its outstanding amount was VND3.79 trillion; the Dream Republic Joint Stock Company paid a … [Read more...] about Thu Thiem land auction results proposed to be canceled