Reforms needed in unsc

Therefore, the ministry has proposed the Prime Minister consider and adjust financial mechanisms to support the development of the fleet, including loans with preferential interest rates. Investment in a fleet of ships requires huge and long-term capital, while local enterprises are unlikely to be able to invest in high-quality fleets, according to Deputy Minister of Transport Nguyễn Nhật. The shipping companies have received very little financial support from the Government in the past few years to carry out fleet development. Interest rates on bank loans in Việt Nam are from 8-10 per cent per year, higher than interest rates in other countries such as Japan (1-2 per cent), Singapore (3 per cent) and China (4.5 per cent). At the same time, when registering a ship to fly the Vietnamese flag, the enterprise must carry out procedures on importing ships and have to pay taxes and fees such as registration fee, value-added tax and import tax on ships. Some ship owners … [Read more...] about Shipping industry needs State support to develop: ministry

Vietnamese enterprises have delivered and received goods at Vietnamese ports, so the right to hire vehicles is undertaken by foreign partners, Vietnamese shippers depend entirely on foreign shipping companies and are forced to pay surcharges implemented by those shipping companies, according to Nhat. … [Read more...] about Shipping industry needs State support to develop: ministry

13th National Party Congress – new milestone in Vietnam’s development process The 13th National Party Congress will mark a new milestone in the development process of Vietnam and its Party, as it will shape the country’s future and propel its international integration,  … [Read more...] about Seventh National Party Congress: Comprehensive reform, leading nation on the way towards socialism

Hanoi (VNA) – The Vietnamese Ministry of Industry and Trade is actively implementing a lot of supporting industry development programmes, given the great importance of supporting industries. Thanks to these programmes, Vietnamese businesses have been facilitated to apply modern quality management standards and systems, increase the quality of their products, and gradually participate in global supply chains. However, deputy head of the Science Institute on Small-and-Medium Enterprises Management (SISME) Nguyen Kim Hung said that businesses are facing difficulties in approaching credit, due to specific characteristics of supporting industrial production as well as the low starting point of small- and medium-sized enterprises. In this context, Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc stressed the need for mechanisms and policies to develop supporting industries, strengthen connectivity, take advantage of new markets, and expand supply channels and … [Read more...] about Vietnam’s supporting industries receive push to develop further

To improve the fund’s effectiveness, UNDP Resident Representative in Vietnam Caitlin Wiesen stressed the need to have a better understanding of the financial ecosystem for SMEs in Vietnam and a strategic role for a new lending channel to boost existing domestic funding. … [Read more...] about Gov’t urged to develop legal framework for direct lending for SME development