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The disbursed public investment capital last year was equivalent to 96.13 percent of the target set by the Prime Minister (Photo: VNA) Hanoi (VNA) - Public investment disbursement has been accelerated since the opening days of the year as it continues to be seen as an important driving force of economic growth this year, the Dau tu (Vietnam Investment Review) newspaper reported. In a report to the Government in early February, Minister of Planning and Investment Nguyen Chi Dung said that an estimated 452.41 trillion VND (19.6 billion USD) in investment capital was disbursed last year from the State budget, equivalent to 96.13 percent of the target set by the Prime Minister. 2019 disbursement, meanwhile, was equal to just 73.7 percent and 76.75 percent of the figures targeted by the National Assembly and the Prime Minister. The 2020 rate was the highest for many years, he said, describing it as the “sweet fruit” of breakthrough efforts by the Government, ministries, sectors, and localities to promote the disbursement of public funds . Disbursed capital was about 15 trillion VND in January, or 3.25 percent of the 461.3 trillion VND planned for the year by the Prime Minister. The disbursement pace was slower than expected but still much higher than the 0.95 percent recorded in January last year, according to the Ministry of Planning and Investment (MPI). It noted that, to accelerate disbursement, the allocation of State budget-sourced investment capital has been promoted since late 2020. As a result, over 412 trillion VND of planned capital had been assigned as of the end of January, equivalent to 89 percent of the PM’s target, the MPI said. While this is considered a positive figure, MPI is still concerned that the sum unallocated is relatively large, at more than 101 trillion VND. It pointed out that the 2021 public investment plan has been carried out while the medium-term public investment plan for 2021-2025 has yet to be approved. …

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HCM City eyes 10 percent growth in export in 2021 Shrimps processed for export Ho Chi Minh City’s Department of Industry and Trade has set the target to export 48.19 billion USD worth of products in 2021, a year-on-year surge of 10 percent. Under its development plan for 2021 recently submitted to the municipal People’s Committee, the sector said import revenue is estimated at 56.47 billion USD for the whole year, up 11 percent against the previous year. Besides, it eyed to reel in more than 835.68 trillion VND (36.29 billion USD) from retail sales and services revenues in the year, up 10 percent year-on-year. The department said it will carry out necessary measures in a comprehensive fashion to branch out industry and trade, contributing to promoting economic recovery of the southern hub. Earlier, HCM City set a goal of boosting the export of its key products this year and beyond via trade promotion activities and assistance to enterprises. Head of the statistics office Huynh Van Hung said COVID-19 has been largely brought under control around Vietnam, resulting in the production sector exhibiting signs of recovery. Local enterprises, however, continue to face difficulties as many major trading nations are yet to open their markets. He noted that enterprises are in need of diverse and long-term support relating to information on importers of materials and fuel, new markets and partners, and domestic consumption stimulus measures. According to Nguyen Phuong Dong, Director of the municipal Department of Industry and Trade, despite facing myriad challenges, last year the city still saw five goods post export turnover in excess of 1 billion USD: computers-electronic products and components, with 17.8 billion USD; garment-textile 4.3 billion USD; footwear 2.2 billion USD; machinery-equipment-spare parts 2.2 billion USD; and other goods 6.9 billion USD. Together their export value accounted for 83.5 percent of the city’s total. Key export …

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In some industrial parks in the southern provinces of Dong Nai and Binh Duong, hundreds of companies have put up hiring notices this week. South Korean textile firm Taekwang Vina in Dong Nai is looking for 3,000 workers as it plans to establish four more production chains this year. The company offers a minimum monthly salary of minimum VND7 million ($304). Anyone with basic literacy can apply. Another South Korean textile firm in the province, the Chang Shin Vietnam Company, which has 35,000 workers, is also recruiting an unspecified number of new workers as the number of orders received by the end of this year has already exceeded capacity, prompting it to build two new workshops. In Binh Duong, official data shows local companies are looking for nearly 40,000 workers in several sectors including textiles, wood processing and household products manufacturing. Companies are sending recruiters to sit near main roads to increase chances of contacting candidates. "Businesses are struggling to find workers even though they are offering high salaries of VND7-13 million a month plus benefits," Nguyen Kim Loan, chairwoman of the Binh Duong Labor Federation, told local media. In the northern province of Bac Ninh, where many multinational manufacturers have set up plants, the demand for workers is estimated at 15,000. Foxconn, a major supplier for Apple, is hiring 1,000 workers in Bac Ninh and the neighboring province of Bac Giang. It received a license in January to build a $270-million plant produce laptops and tablets in Bac Giang. Nguyen The Quyet, chairman of the union of workers at industrial parks in Bac Ninh, said that many companies were unable to complete orders last year due to disruptions caused by the Covid-19 pandemic and were seeking to make up now. Another reason is a surge in new orders this year from many countries, pushing factories to expand production and employ more people, he added. Recruitment demand was highest among …

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