A senior official of the Vietnamese Communist Party will spend two days in China starting Tuesday trying to repair bilateral ties shattered by an oil rig crisis that sparked deadly anti-China riots in Vietnam several months ago. Le Hong Anh, a Politburo member who heads the Central Committee Secretariat, will travel to China as the special envoy of Party Chief Nguyen Phu Trong, according to a statement issued Monday by the country's Ministry of Foreign Affairs. The Central Committee is a powerful grouping of 175 senior Communist Party members; the 16-member Politburo is the Party's decision-making body. Anh will visit China at the invitation of the Chinese Communist Party. According to the foreign ministry release, the visit was organized to "defuse the situation and prevent tense incidents like the recent standoffs from recurring." The statement also said the trip would seek to bolster the healthy, stable and long-term development of relations between the two parties and states. On … [Read more...] about Vietnam Party official heads to China to defuse tensions
National party rental companies
Businesses Contribute to National Development Strategy
February 9, 2006 in Hanoi, several contributions were made to the socio-economic development to 2010. In addition to recommendations submitted earlier to the Prime Minister and related ministries, 17 views were presented at the meeting focusing on the capital market, tax, land, science and technology and competitiveness. Tax and capital: main problems In earlier recommendations as well as in presentations at the meeting, high tax rates have been raised such as 28 per cent for enterprise income tax. In reply, Mr Nguyen Sinh Hung, Finance Minister said that the policy of the Finance Ministry in the next five years to reduce taxes for instance, enterprise income tax will be down to 25 per cent or 23 per cent. However, added value tax on imports will remain at 8 per cent-10 per cent, for some protection is still needed to ensure successful accession to WTO - a process described by Trade Minister Truong Dinh Tuyen, as challenging when Vietnam reduces taxes, abolishes subsidy and opens the … [Read more...] about Businesses Contribute to National Development Strategy
For the environment and the community
For the environment and the community By Binh Nguyen in HCMC The success of businesses is now judged through the way they make profits as well as care for the environment and the community. These criteria are clear, but are not easy for the business in Vietnam to meet if they are let alone to walk on the new path to green production. The role of the Government Chau, who has almost 10 years of experiences in social compliance monitoring and sustainability advisory services at manufacturers in Vietnam, China, Laos and Cambodia, says that the business also needed the Government's assistance with technology and expertise to turn their green production ideas and plans into reality. Actually, there have existed supporting policies for clean producers and investors of green projects though the concept of green production has been introduced in Vietnam for just several years. Deputy Minister of Natural Resources and Environment Nguyen Thai Lai says that the Government has issued various … [Read more...] about For the environment and the community
BUSINESS IN BRIEF 20/7
Toyo Ink Group still on look out for power plant partners According to VIR's source, Toyo Ink has been approached by a number of utility firms and independent power producers for equity partnership in the $3.5 billion project. However, no movement has yet been reported. A memorandum of understanding (MoU) was signed by Toyo Ink for the 2,000 megawatt Song Hau 2 coal-fired power plant under a build-operate-transfer (BOT) agreement in 2013. The plant is part of the 5,200 megawatt Song Hau power centre in Hau Giang industrial park. The power centre will be home to three separate power plants, including the 600MW Song Hau 1, operated by Vietnam's state-run oil and gas group PetroVietnam. Toyo Ink's Vietnam representative office head, Nguyen Hung Viet, shared with VIR that the first phase would have a capacity of 1,000MW by 2021 with the second phase generating 2,000MW by 2022. Last year, Toyo Ink's managing director Steven KC Song said that "By inviting other parties to join the … [Read more...] about BUSINESS IN BRIEF 20/7
Ho Chi Minh City to pilot rental of state-owned cars
Ho Chi Minh City is set to pilot the rental of state-owned cars in a bid to offset their overall cost to the state budget.The southern metropolis is expected to begin the pilot program in January 2018 following a proposal by the Ministry of Finance.Once the plan is rolled out nationwide, it is expected to reduce the number of state-owned cars by 10,000, saving the state some VND3.4 trillion (US$149.6 million).According to Le Minh Khoa, head of the Ho Chi Minh City Youth Volunteer Force, the unit in charge of the project, the rental of state-owned automobiles has not been done before, but the potential results are encouraging.Each state entity currently manages five cars, with the state spending VND15 million ($660.8) per vehicle per month on drivers’ salaries and vehicle maintenance, Khoa said.If the program is rolled out, each agency will only be responsible for two cars, with monthly expenditure of around VND20 million ($880.5) per vehicle, saving about VND35 million ($1,540) … [Read more...] about Ho Chi Minh City to pilot rental of state-owned cars