The Hanoitimes - Senior government officials said that electricity and gasoline are items leaving impacts on the economy and catching public attention. PM orders checking of power price hike following social outcry Vietnamese media has questioned the Ministry of Industry and Trade (MOIT) about labeling “secret” the plans for raising electricity and gasoline prices. Government April meeting with the chairmanship of Chairman Mai Tien Dung. Photo: VGP VnExpress asked the MOIT at the government’s regular meeting last weekend why it tagged the adjustment of power and gasoline prices as “state secret” and basing on what ground. In response, Deputy Minister of MOIT Do Thang Hai said that the ministry keeps the plans unrevealed before the official announcement with an aim to avoid any unexpected impacts on the society due to the crucial role of electricity and petroleum in the economy. Hai attributed the Law on Protecting State … [Read more...] about Why does Vietnam label plans on energy price hike “secret”?
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The Hanoitimes - One of the reasons making Vietnam a key partner of the US is its well-equipped army with the import of advanced weapons over the past years. Washington looks to send second aircraft carrier to Vietnam this year How Vietnam, US heal wounds of war to build up comprehensive partnership? Vietnam, US look to advance maritime security ties Vietnam, US share views on regional peace maintenance Vietnam, US discuss settlement of disputes in East Sea US Assistant Defense Secretary for Indo-Pacific Security Affairs Randall G. Schriver once affirmed that Vietnam has appeared to be a valued partner for Washington in the Indo-Pacific region. Vietnamese Defense Minister Ngo Xuan Lich and US Defense Secretary James Mattis on the sidelines of Shangri-La Dialogue 2018 in Singapore in June 2018. Photo: AP The senior official discussed the US-Vietnam strategic cooperation during a panel at the Center for Strategic and International Studies (CSIS) in … [Read more...] about Why does the US consider Vietnam an important Indo-Pacific partner?
VietNamNet Bridge - Vietnam is economically lagging behind other countries in the region and in the world. There is a big gap in GDP per capita between Vietnam and other countries, which makes it difficult for Vietnam to catch up with them. The core of the doi moi (renovation) in Vietnam is the shift from single-ownership into a multi-ownership economy, where the central planned regime no longer exists. The 1987 Law on Foreign Investment, the 1990 Corporate Law & the Law on Private Enterprises, and the 1999 Enterprise Law have encouraged the development of Vietnam’s private economic sector. One of the revolutionary viewpoints of the 1999 Enterprise Law was that ‘people can do anything that are not prohibited by the laws’, rather than ‘people can only do the things allowed by the laws’, which was one of the major reasons hindering economic development in many decades before. Soon after the Enterprise Law took effect, the then PM Phan Van Khai set … [Read more...] about Why does Vietnam lag behind?
On December 11 the State Bank of Viet Nam reduced the value of the dong against the US dollar by VND9 from the previous day to VND22,775 (US$1). The selling price of the greenback at the central bank’s transaction offices was also adjusted to VND23,408 though the buying price was kept unchanged at VND22,700. At commercial banks, the price of the greenback did not see strong fluctuations. Vietcombank still kept its selling and buying prices at VND23,265 and 23,355. Similarly, BIDV kept its rates unchanged at VND23,260 and 23,350. Market observers said the central bank has been adjusting its daily reference rate for the dong against the dollar constantly since early December though the adjustments have been minor. Why does the central bank continue to devalue the Vietnamese currency when globally the dollar is weakening after the US and China agreed to halt their trade war for 90 days? For instance, in the Asian dollar market, the dollar index, which tracks the greenback against … [Read more...] about Why SBV keeps dong weak against US dollar
Viet Nam News Trần Ngọc Hùng, chairman of the Việt Nam Construction Association, speaks to Việt Nam News Agency about key reasons for the delays in the renovation of old living quarters in Hà Nội. How do you evaluate the national programme to renovate old living quarters? The national programme to renovate old living quarters was launched more than 10 years ago, but its implementation has been very slow. As a consequence, its results have been limited. According to the latest report, some 25 percent of the old living quarters have been described as “very dangerous.” They could collapse at any time and the lives of people living in these building are at risk. What are the main factors preventing the programme from following its approved plan? The Government’s policy is totally right, yet specific guidelines and solutions to implement the policy have not been translated into real life. I should say the implementation of the … [Read more...] about Why does renovation of old living quarters proceed so slowly?