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BUSINESS IN BRIEF 19/12
Teenagers with assets can open bank accounts on their own
Individuals aged between 15 and 18, who own separate assets,
will be allowed to independently open and operate bank accounts without
seeking approval from their parents or guardians.
A draft circular on the issuance, use and payment of bank
cards recently released by the State Bank of Viet Nam (SBV) states that these
individuals may be permitted to open and manage their own accounts in
commercial banks and foreign bank branches. Once approved, the circular will
replace Decision No 20/2007/QD-NHNN, issued in 2007, which only allows people
aged 18 and above to own bank cards.
The draft circular also proposes that individuals aged 11 to
14 may own bank cards, which will function as sub-cards of the primary cards
held by their parents or guardians.
The SBV disclosed that 77.3 million bank cards were issued by
50 card-issuing organisations until the end of October. Moreover, nearly
15,900 ATMs and more than 164,000 points of sale/electronic draft capture
(POS/EDC) are installed across the country.
MoF recommends fee, levy changes
The Ministry of Finance (MoF) proposed to omit or adjust 22
fees and four levies in the draft of the Law of Fees and Levies.
The MoF recommended the removal of three overlapping fees:
security and order fee; natural disaster prevention fee; and securities
equipment and infrastructure use.
Fees and levies that are listed under the law but have not
been utilised will also be deleted. This includes fees for verification of
import and export goods, waterway usage, domestic waterways' jets and canals
and electric radio frequency protection. Evaluation fees imposed on relics,
antiques and precious national objects were also recommended for deletion.
The MoF also suggests the amendment of five fees to become
service fees to attract investors. These are fees imposed for parking,
sanitation, ferry services and markets. Fees on roads under the
build-operate-transfer (BOT) stations were included as well.
The ministry also proposed to reposition some fees to focus on
price mechanisms, including fees on measure mean evaluation, judicial
evaluation, bids and hospital services. Examination fees are also included in
the proposal.
The current list includes 73 types of fees, which are categorised
under 12 groups, and 43 types of levies placed under five groups.
However, the MoF revealed that the management in charge of the
use of fees and levies failed to meet the requirements imposed on state
budget collection and spending, as well as the guidelines that aimed to
attract investment to public services.
The MoF asked the government to draft the law, which will
permit localities to decide on the fees and levies to be exempted or reduced
within the scope of their authority.
The Viet Nam Fashion Show 2014, which listed the participation
of 150 businesses, will take place in the capital from December 19 to 25, the
event's organisers announced on Tuesday.
The organisers shared that the unfavourable global and
domestic economic conditions have posed many challenges to domestic
businesses, especially in the garment and footwear sectors. These
difficulties typically involve the search for consumption markets, they said.
They described the upcoming event as a good opportunity for
local firms to effectively advertise their products and services to
customers.
Co.opmart outlet in Cao Lanh is 74th store nation-wide
Saigon Co.op yesterday opened a new Co.opmart store in Cao
Lanh city in
The 8,000sq.m store stocks more than 30,000 items, including
foods, cosmetics, fashion garments, electronic goods, and household utensils.
On the same day Saigon Co.op also opened a Co.op Food
convenience store on
On December 13 it had broken ground for construction of
Co.opmart Quang Binh in the province's Dong Hoi city. The store is expected
to open in November next year.
Microsoft Dynamics AX offers best solutions for e-commerce
Votiva-SAGlobal, Microsoft, HP and Solver BI today organised
“E-commerce and Business Intelligence Solution for Retailer and Distributor”
seminar in
“The online shopping has significantly changed the way of
interaction between customers and suppliers. The e-commerce and social media
are the key strategic tools that helps retailers and distributors reaching
and targeting a wide-ranging customers and consumers. Microsoft Dynamics AX
WebStore solution enables retailers and distributors to create and deploy a
powerful ecommerce presence that fits their target markets and delivers a
pleasant, competitive customer experience with a high probability of return
visits,” said Dinh Tien Dung, general director of Votiva-SAGlobal at the
seminar.
Votiva-SAGlobal is the leading Microsoft Dynamics
implementation service provider in
Designed for easy deployment and low-overhead administration,
webstore is a comprehensive e-commerce resource that takes full advantage of
the existing instance of Microsoft Dynamics AX. Users can quickly build and
roll out multiple B2B and B2C sites, target them at the customer segments
they want to reach, and fully control them from within Microsoft Dynamics AX.
Inventory, product, customer accounts, and other data from the ERP system
feed into webstore, and transaction and customer details from webstore flow
directly into AX. For customers, the solution offers an efficient shopping
experience that keeps their information persistent.
According to Dung, BI360 Business Intelligence Suite gives
retailers and distributors the ability to forecast, track and analyse product
and store sales, plan more effective promotions, purchase merchandise that
matches customer regional buying preferences, and improve staffing plans to
better match store traffic. Current and accurate information is critical in
today’s retail industry. BI360 can provide the detailed information retailers
and distributors need to proactively run their business and improve store
performance and profitability.
With BI360 Business Intelligence Suite, retailers will be able
to budget and forecast revenues and expenses, predict buying trends and plan
more effective promotions, optimise staffing levels, track product, store and
region performance, combine data from the ERP system with other data sources,
produce operational and financial reports and establish and monitor benchmark
objectives.
A British firm on Tuesday began building a five-star resort
onPhu
[Officials host ceremonial groundbreaking for the Star Bay
resort project on Phu Quoc Island in Kien Giang Province, located in southern
Vietnam, on December 16, 2014.<br /><span>Tuoi Tre</span>]
The
Hoa Binh Construction and Real Estate Co. Ltd. is the design
and building contractor of the first phase of the resort, located to the
north of the island, which consists of a 250-room hotel and 50 bungalows.
This is the first project Hoa Binh, a Vietnamese firm, is in
charge of both designing and building, which will create convenience for the
developer and contractor during its implementation.
On December 6, Hoa Binh also started work on a JW Marriot
hotel project as part of the high-end Bai Khem Mat Troi Phu Quoc retreat.
The company had won a VND72 billion (US$3.39 million) contract
to build eight blocks of the JW Marriot hotel.
The 138-hectare Bai Khem Mat Troi Phu Quoc project will also
comprise hotels operated by other famous brands including InterContinental,
Sofitel, and
The project is expected to be one of the leading ecotourism
destinations in
Renowned globally as a paradise-like island, Phu Quoc covers
589.23 km² off the southern
Vietnamese Prime Minister Nguyen Tan Dung has approved a plan
to develop Phu Quoc into a special economic-administrative region
administered by the central government by 2020, according to the Phu Quoc
District website.
To that end, the government has created exclusive mechanisms
for Phu Quoc, and the island is also enjoying the highest-ever preferential
treatments to have its traffic, infrastructure, and energy systems developed
up to its potential.
The island, now a popular destination for retreats with its
white-sand beaches and high-quality seafood, is attracting increasing
investment as it transforms from a resort island into an economic hub.
Phu Quoc has lured around 200 investment projects spanning
8,768 hectares, the Vietnam News Agency said, citing the island’s project
management board.
State-owned infrastructure developer to IPO
Infastructure Development and Construction Corporation
(LICOGI) has announced its plan to sell a 25 per cent stake for its upcoming
initial public offering.
LICOGI has a registered capital of VND900 billion ($42.3
million). For the IPO the state intends to keep 36 million shares, a 40 per
cent stake, while 1.168 million shares or 1.3 per cent will be put up for
sale to employees, 63,000 shares, 0.07 per cent will be sold to the labour
union, 31.5 million shares, 35 per cent, are slated for sale to strategic
investors, and 21.27 million shares, 23.63 per cent, will go on sale to the
public.
The minister of construction has been authorised by the prime
minister to decide the initial price of the shares and choose the financial
firm that will advise LICOGI on its IPO and the strategic investors.
After the IPO, LICOGI will have to rent land from the
government and pay the necessary fees to transfer its ownership of land,
according to the Land Law. According to a recent report by the State Audit of
Vietnam, LICOGI’s property holdings total 3.4 million square metres, part of
which has been reportedly misused.
Contemporarily elegant and tastefully decorated, Sofitel Plaza
Hanoi is ideally located within walking distance to the city center and
showcases panoramic views of the charming lakes.
Blending the French art de vivre with the grandeur of
Vietnamese heritage, the 273 newly renovated rooms offer a genuine experience
of sophistication and luxury.
The five star hotel has been chosen by guests, magazine
readers, and authoritative experts of the prestigious accolades: Trip Advisor
(Certificate of Excellence), Agoda.com (Gold Circle Awards), World Luxury
Hotel Awards (Luxury Serviced Apartments & Luxury Business Hotel),
Expedia, AsiaRooms, Zoover, HolidayCheck, Travellive (Golden List Hotels),
and The Guide Awards by Vietnam Economic Times.
“In recent years, those awards have grown in stature to become
among the most respected travel and hospitality honors. The dedicated team at
Sofitel Plaza Hanoi always strives to create memorable experience for all
guests by tailored service and personal touch in every detail. We
continuously maintain and upgrade its rooms and facilities to ensure the
ultimate comfort and luxury experience,” said the hotel general manager Guy
Poujoulat. “These awards are truly meaningful recognition for our constant
efforts and help demonstrate our success in continually upgrading products
and services to provide guests with the best experience possible.”
VAMC has bought bad debts worth $4.76 billion
The Viet Nam Asset Management Company (VAMC) has bought more
than VND100 trillion (US$4.76 billion) in bad debts so far.
The VAMC has bought $4.76 billion in bad loans so far. Photo
hanoimoi.com.vn
About VND65 trillion ($3.10 billion) of debts were purchased
this year alone.
According to the Tuoi tre (Youth) newspaper, the company sold
and recovered about VND4 trillion ($190.48 million) of the debts.
VAMC Chairman Nguyen Quoc Hung told the newspaper that the
biggest problem for the firm now is how the debts can be sold so that the
interests of both the banks and the borrowers are assured.
A complete mechanism for dealing with property mortgages has
not been put in place yet. Thus, speeding up of debt processing is still
difficult, he said.
"If VAMC sell debts at any cost, the damage for the banks
and the borrowers will be great. Besides, it is not easy to seek bad debt
buyers at a time when the market conditions are still tough," he added.
The State Bank of
In the draft, the central bank suggested that the charter
capital of the company be raised to VND2 trillion ($95.24 million) from the
current VND500 billion ($23.81 million).
The People's Committee of this southern city sought the
revision of the framework governing local land prices to be applied next year
during a working session on December 15.
A view of
The request of the committee to amend this framework was
submitted to the Department of Natural Resources and Environment and other
relevant agencies.
Decree No. 104/2014/ND-CP, which was issued by Prime Minister
Nguyen Tan Dung on November 14, states that the rates for residential urban
lands in the east-southern region of Viet Nam range between VND120,000 and
VND162 million (between US$5.7 and $7,710) per square metre.
The natural resources department had earlier presented a land
price table for 2015, which featured a few changes compared with the 2014
version that stipulated local land rates should range between VND110,000 and
VND81 million (between $5.2 and $3,850) per square metre.
The decree will take effect on December 29. The city will be
expected to present an amended land price table to be considered by the
municipal People's Council on December 30. The public announcement will be
done on January 1 next year.
Jeju Air launches direct Seoul-Ha Noi flight
Korean airline Jeju Air has announced that it will launch
direct flights between
Jeju Air crew wearing Vietnamese hats promote a new flight
between Incheon and
The Boeing 737-800 aircraft will depart from
Vietnamese visitors to RoK totalled 130,065 in the first 11
months of 2014, an increase of 19 per cent over the same period last year.
Jeju Air and four other airlines -- Vietnam Airlines,
VietJetair, Korean Air and Asiana Airlines -- provide direct flights between
the two countries.
Established in 2005, Jeju Air is a low-cost airline that
mainly carried passengers from other destinations in
Vietnamese auto producers work together
Five Vietnamese companies have decided to cooperate to produce
locally-made automobiles amid increased competition from foreign producers.
These companies, including the Vietnam Engine and Agricultural
Machinery Corporation (VEAM), Vietnam Motor Industry Corporation (Vinamotor),
Saigon Transportation Mechanical Corporation (SAMCO), THACO Group, Xuan Kien
Automobile JSC (Vinaxuki), Z179 Factory under the Ministry of National
Defense and Vietnam Mechanics Development Consultancy Centre (MDC), control
much of the major production and assembly capability in Vietnam and are
members of the Vietnam Association of Mechanical Industry (VAMI).
They have agreed to set up the Automobile Department under
VAMI in order to help local producers to produce and assemble automobiles and
foster local supporting industries.
Dao Phan Long, VAMI’s general secretary and vice chairman,
said the group plans to focus on four fields: trucks, passenger vehicles,
sepecialised vehicles and four-seat cars.
“Domestic production could meet half
Bui Ngoc Huyen, general director if Vinaxuki, said, “This
cooperation proves our determination to increase the capacity of local auto
industry.”
Huyen went on to say that local auto firms are facing fierce
competition from FDI firms, as they lack capital, experience in branding and
access to technology. Meanwhile, FDI firms are provided with numerous
incentives.
“In order to support local producers, I’ve proposed cutting
down the special consumption tax for cars to 50% if local car production
meets half the demand. Even though the Ministry of Industry and Trade agreed,
the Ministry of Finance did not,” he said.
He added that with a population of nearly 100 million,
domestic auto demand will be on the rise; however, it’s important to work out
more incentive policies for local production.
Power tariffs seen rising
Though input costs are stable or even down, electricity
tariffs may go up in the coming time, heard a recent meeting of the Ministry
of Industry and Trade.
The average electricity price has been kept stable at
VND1,508.85 per kWh since August last year. At various meetings with the
media, the ministry rejected questions about the possibility of power price
hikes.
The ministry said at a meeting early this month that it had
told the Electricity Regulatory Authority of Vietnam, the General
Department of Energy and Vietnam Electricity Group (EVN) to
draw up a price adjustment plan for submission to the Prime Minister for
consideration. However, the ministry did not clarify whether power prices
would move up or down.
News site Vietnamnet cited a source as saying EVN had proposed
increasing the average electricity price 9.5% this year, from VND1,508.85 per
kWh to VND1,652.19. A leader of EVN declined to comment on this information.
Under the Prime Minister’s Decision 24, power prices can be
adjusted only when input costs change compared to the ones used to calculate
current prices.
However, cost parameters are quite stable, with the coal price
unchanged and oil prices falling in line with declining oil prices on global
markets.
EVN is allowed to increase the power price by 5% if input
costs fluctuate higher than 5%. A rise of over 5% needs approval of the
ministry and the Government.
The General Department of Energy and EVN are told to consider
and prepare a road map for next year’s power tariffs adjustments in line with
the market mechanism. In addition, it is likely that the increase in the
power transmission could be a decisive factor behind the power price hike.
According to the Electricity Regulatory Authority of Vietnam,
the mechanism used to set the transmission cost will be adjusted up and
account for 10-12% of the average electricity price like in many other
countries, instead of 5.7%, to balance the financial capacity of National
Power Transmission Corporation.
Tax, fee make up one-third of petrol prices
Fuel retail prices are still higher than other markets
although crude oil prices have kept falling on global markets in recent days
as taxes and fees account for one-third of the domestic fuel prices.
For each barrel of fuel imported into
The respective figures are VND5,000 per liter of diesel,
VND5,200 per liter of kerosene and VND4,000 per kilo of heavy fuel oil, as
the special consumption tax and environmental fee are not imposed on those
products.
Retail prices of A92 gasoline, diesel and kerosene have been
at VND19,930 per liter, VND18,410 per liter and VND18,360 per liter
respectively on the domestic market from December 6.
The Ministry of Finance also adjusted fuel import duties on the
same day, raising tax rate of petrol imports by nine percentage points to
27%, diesel 0.05S to 23% from 14%, and kerosene to 26% from 16%.
A fuel wholesaler said the current retail prices of fuel
products are almost equivalent to the levels on the market on February 2,
2011, which were VND19,300 per liter for A92 petrol and VND18,250 per liter
for diesel.
However, fuel import prices at the two periods are completely
different.
In 2011, traders paid more than US$105 to import one barrel of
petrol, over US$115 for one barrel of diesel 0.05S and the same cost for
kerosene, and enjoyed free import tariffs.
Meanwhile, fuel prices on December 10 stood at US$71.39 per
barrel of A92 petrol, US$79.56 per barrel of diesel 0.05S and US$80.71 per
barrel of kerosene in Singapore, falling by US$5-7 per barrel against the
previous week, according to the Ministry of Industry and Trade.
The current import prices of fuel are even lower than on June
11, 2010, which were US$79.42 per barrel of A92 petrol, US$84.63 per barrel
of diesel 0.05S and US$84.43 per barrel of kerosene as listed on the website
of Vietnam National Petroleum Group (Petrolimex).
The import tax rates on A92 petrol, diesel 0.05S and kerosene
were 17%, 10% and 15% respectively at that time.
Fuel wholesale traders said with the current fuel import
prices, the base price, which is constituted by the world’s average 30-day
price plus taxes and costs and used to set local retail prices, is lower than
the current fuel retail prices by around VND400 per liter. So the retail fuel
prices may fall further in the next few days.
Five fisheries centres to be built nationwide
The Ministry of Agriculture and Rural Development plans to
build five fisheries centres across the country between 2015-2020, heard a
conference held in Rach Gia city, the Mekong Delta
Located in northern Hai Phong city, central
The ministry will also invest nearly 6.4 trillion VND (299.4
million USD) in building storm shelters for fishing vessels. A report
delivered at the conference showed that between 2010 and 2014, the country
invested in 70 storm shelters, mainly in the
According to the ministry’s General Department of Fisheries,
during the above-said period, around 244 billion VND (11.4 million USD) from
the State budget was poured into upgrading and expanding Quy Nhon, Phan
Thiet, Binh Dai, Lach Bang and
In addition, another 17 fishing ports in the country were also
upgraded thanks to a 30 million USD loan from the World Bank.
Can Tho promotes economic cooperation with RoK
The Republic of Korea (RoK) wishes to cooperate with Can Tho
city in infrastructure development and science technology application into
high-tech industry, said Kim Kyong Soo, Vice Chairman of the Korea Display
Industry Association.
During a working session with leaders of the Can Tho People’s
Committee on December 16 in the Mekong Delta city, Kim introduced the RoK’s
potential, stressing that the country focuses on building high-tech
industrial parks in a bid to helping the city transform its industry
structure.
He added that the city’s infrastructure including bridges,
roads and airports will help shorten geographic distance between Can Tho and
other localities, attracting more investors.
On his part, Tran Thanh Man, Secretary of the Can Tho Party
Committee, spoke highly of the recent cooperation between the countries,
especially the Vietnam-RoK Incubator Park (KVIP) in the city which has
directly benefited millions of workers in the Mekong Delta.
He pledged that the city will provide best conditions for the
RoK investors.
Real estate market warms up
The real estate market has seen positive changes in the first
11 months of 2014, with the number of successful transactions increasing
considerably, the Vietnam Economic News cited the Ministry of Construction as
saying.
Deputy Minister of Construction Nguyen Tran
About 293 trillion VND in investment was poured into the real
estate market in the first three quarters of 2014, up 12 percent from the
same time in 2013, while the country’s credit growth was only six percent during
the same period.
The deputy minister also attributed the real estate market’s
recovery to the securities market’s improvement. Experts have predicted that
the real estate market will finish 2014 in a better shape.
Tran Kim Chung from the Central Institute for Economic
Management (CIEM) was quoted as saying that house prices remained stable and
had stopped decreasing. Housing prices ropped by more than 30 percent in
2011-2013 but recently became stable and had stopped falling. Meanwhile, the
projects with good locations, which have been completed or will be completed
soon, increased by just 1-2 percent compared to 2013.
Dr. Hoang Kim Huyen from the National Financial Supervisory
Commission said that investment in the real estate market has tended to increase
again.
Dat Xanh Mien Bac Real Estate and Services Joint Stock Company
(Dat Xanh Mien Bac) General Director Vu Cuong Quyet said that most of
investors have offered products with reasonable prices so few projects were
suffering losses.
CEN Group Deputy Chairman Pham Thanh Hung said that there will
be no wave of projects experiencing losses as many believed.
Dat Xanh Mien Bac General Director Vu Cuong Quyet said that
projects that are being completed have the potential to increase prices but
investors who have entered the market for a short period of time will be
careful in increasing prices as demand remains lower than supply on the real
estate market. Therefore, real estate prices are expected to remain stable.
FTAs to bolster up
More new opportunities will be opened up for Vietnam on
economics, trade and investment once the country’s free trade agreements
(FTA) with its partners are reached, said Minister of Industry and Trade Vu
Huy Hoang.
Hoang granted an interview to Vietnam News Agency reporters on
the context that
According to the minister, under the pact, the Customs Unions
provides Vietnam with preferential tariffs in order to facilitate the export
of the country’s staples such as farm produce, seafood, garments and
textiles, footwear and wood furniture.
Meanwhile,
The Customs Union, with a combined population of approximately
170 million and total GDP of 2.5 trillion USD, is not a choosy market, while
its demand for imports is increasing.
He also expressed his belief that direct investment from the
union into
He also stated that in the last months of 2014, the country
basically finished negotiations on other free trade agreements with the
European Union and the
According to the ministry, all of the three agreements,
expected to be signed by the first half of 2015, cover a wide range of
contents, including trade in goods, trade in services, investment, rules of
origin, trade remedy, customs facilitation, technical barriers to trade,
intellectual property, food hygiene, animal and plant quarantine, and legal
and institutional issues.
Vietnam firms urged to boost trade, investment with Chile
The business circle needs to exert more efforts to foster
trade and investment between Vietnam and Chile, particularly when the
bilateral free trade agreement has been enforced since January 1, 2014, said
Nguyen The Hung, Deputy Director of the Ho Chi Minh City branch of the
Vietnam Chamber of Commerce and Industry.
At a workshop introducing the Chilean market on December 16,
Hung further said the enforcement of the FTA with
The stable growth in two-way trade has also laid a firm
foundation for their investors, exporters, and importers to make further
inroads into each other’s market, he added.
Nguyen Thanh Quang, a representative from the Chilean
Consulate General’s Trade Office in HCM City, said Chile with a stable
political system and a transparent investment climate will be a gateway for
Vietnamese goods to enter other markets since the Latin American nation
currently ships commodities to the US, China, and Japan, among others.
Vietnamese firms can pour money into potential fields in
Two-way trade has balanced over the last three years with the
turnover topping 530 million USD in 2013, including nearly 220 million USD of
Vietnamese exports.
In the first ten months of 2014, bilateral trade surged to
over 710 million USD, including nearly 420 million USD of Vietnamese
shipments.-
Addressing a workshop on December 15 in Mexico City, where
local enterprises seek opportunities for investment and tourism promotion in
Vietnam, the ambassador noted that bilateral trade exchange is likely to
surpass 1.8 billion USD in 2014, but the figure is small compared with the
total foreign trade values of 780 billion USD and 280 billion USD of Mexico
and Vietnam, respectively.
During the event, Mexican business representatives said a lack
of knowledge and accurate information about
They put many questions on
A photo exhibition was also held in the framework of the
workshop to introduce to the Mexican friends about
Nova Group to invest over $50m in baby formula production
Nova Group and Ireland-based Kerry Group, a global supplier of
infant formula ingredients, have signed an agreement to develop high-quality
affordable milk formula in
Nova Group and Ireland-based Kerry Group, a global supplier of
infant formula ingredients, sign on December 15 an agreement to develop
high-quality affordable milk formula in
Nova, which has interests in real estate, veterinary
medicines, and food, will invest over US$50 million in developing modern
dairy cattle farms in Ireland and product distribution systems, Nguyen Hieu
Liem, its vice chairman, said.
The two will also focus on developing a system for tracing
product origins - from raw materials to final product - to ensure their best
quality and the absolute safety of children, he said.
Vo Thuy Anh, CEO of Anova Milk Joint Stock Company, an
affiliate of Nova, said the two sides would inaugurate the Anka product line
for children in late March or early April before beginning research to
develop other nutritional products for the Vietnamese market.
Anka milk products would be of high quality but 20 per cent
cheaper than similar products in the market, she said.
"As one of the global suppliers of infant formula
ingredients for established multinational brands, we are delighted to play a
key role in delivering nutritious milk to infants in Viet Nam through this
partnership," Edmond Scanlon, president of Kerry Group in the
Asia-Pacific region, said.
Kerry has invested 100 million euro (over $125 million) in its
Global Nutrition Application Centre with over 800 scientists and
nutritionists to support ongoing research and development of infant and
follow-on formula for growing infants, he said.
Milk consumption in
Hospital autonomy and experience for Vietnam
A consultative workshop on hospital autonomy, the quality of
hospital services and management took place in
Prior to 1989, all public hospitals in
As the country entered the renovation (doi moi) stage,
hospitals were allowed to charge patients a portion of treatment expenses and
spend it on improving operations. Later, hospitals gradually shifted from
merely performing the tasks assigned by the State to providing services in
order to exist.
In line with this trend, the government issued a decree in
April 2006 providing for the autonomy and self-responsibility in terms of
task performance, organisational apparatus, payroll and finance of public
non-business units, including hospitals.
According to head of the Health Ministry’s Planning and
Finance Department Nguyen Nam Lien, eight years after the decree’s
promulgation, 8 out of 39 hospitals under the management of the Health
Ministry have become self-reliant financially while 5 others are still
relying on the State budget for regular activities.
Thanks to autonomy, many public hospitals have restructured
their apparatus, mobilised capital for human resources development and
equipment procurement.
However, it also exposes drawbacks, including the unnecessary
use of hi-tech equipment that costs patients a lot of expenses.
A representative from the Policy and Health Care Management
Faculty at
Participants also examined lessons from
The workshop was co-hosted by the Health Ministry and the
World Health Organisation.
Son La calls for investment in Moc Chau tourism zone
Son La province is calling for investment in its Moc Chau
National Tourism Zone, which is expected to become a driving force for the
tourism development of the locality as well as the whole northern midland and
mountainous region.
At a seminar highlighting Moc Chau in
Under the plan, the zone, covering 206,000 hectares in Moc
Chau and Van Ho districts, will feature diversified and unique tourism
products with high competitiveness along with natural landscapes and ethnic
cultural identities.
The zone is expected to welcome 1.2 million holidaymakers by
2020 and 3 million by 2030, generating revenues of 1.5 trillion VND (71.4
million USD) and 6 trillion VND (285.7 million USD) respectively.
It will target visitors from the Red River Delta and the
northern midland and mountainous region as well as those from foreign markets
such as Western Europe, Northern America, Northeast Asia and
The zone will include three key tourism centres, namely the
Moc Chau relaxation centre, the Moc Chau eco-tourism centre and the Moc Chau
recreational centre.
Community-based tourism villages will be formed in Dong Sang,
Muong Sang, Tan Lap communes in Moc Chau district and Chieng Khoa commune in
Van Ho district.
The province also plans to establish a transnational tourist
route connecting Moc Chau and
According to the local Department of Culture, Sports and
Tourism, Moc Chau has enjoyed a continuous increase in the number of
tourists, from 288,000 arrivals in 2010, to 600,000 in 2013 and about 850,000
in 2014, mainly during holidays, winters and springs when plum and peach
flowers blossom, and in Mong ethnics’ New Year festival in September.
Vinacafé records The National Brand for four consecutive years
Vinacafé, an affiliate of Masan Consumer, is recognised The
National Brand at an event held by the Ministry of Industry and Trade today.
It is also the only Vietnamese coffee brand given the title
for four consecutive years. The title is part of government’s programme to
promote
In a separate event, Vinacafé has announced that it is
accompanying the Vietnamese youth delegation in "The Ship for Southeast
Asian Youth Program 2014" from October 29 tp December 18, 2014.
This is an important diplomatic activity with the aim of
strengthening solidarity and friendship among the youth in ASEAN countries
and
Thereby, Vinacafé contributes to promote Vietnamese coffee
culture, and to build image of the Youth in
Dong Nai assists local firms accelerate exports
Southern Dong Nai province authorities had a dialogue with
over 100 local enterprises on December 16 to figure out their difficulties
and seek ways to raise their production and expand export markets.
Nguyen Tri Cong, Chairman of the Dong Nai Livestock
Association, proposed local credit organisations allow greater access to
preferential credit packages for farmers and accept livestock products as
security for their loans.
Representatives from local firms suggested that Dong Nai and
credit institutions loosen lending procedures and create preferential loans
to help enterprises, especially small and medium-sized ones, access capital
sources to expand their business.
The authorities pledged to exert every effort to remove
administrative difficulties for enterprises promptly. Meanwhile, the State
Bank of
In 2015, Dong Nai plans to back local firms to explore new
export markets besides traditional ones of Asia, the
According to the provincial Department of Industry and Trade,
the locality earned over 1.2 billion USD from exports in November, up 0.3
percent over the previous month, pushing the turnover in January-November to
11.55 billion USD, a year-on-year rise of 16.8 percent.
In 2015, Dong Nai targets 14.4 billion USD in exports, up 15
percent year on year.
Dong Nai, together with Binh Duong, Tay Ninh, Ba Ria-Vung Tau,
Binh Phuoc, Long An and Tien Giang provinces and Ho Chi Minh City, form
Vietnam’s southern key economic region.
The province,
Rice export in the Mekong Delta is likely to reach 5.85
million tonnes of rice in 2014 worth 2.9 billion USD, equal to the last
year’s value, according to the Steering Committee for the Southwestern
Region.
The region shipped abroad 5.6 million tonnes of rice as of
December 15, and is going to export an additional 250,000 tonnes in the
remaining days of the year.
Asia and Africa are the region’s main rice export markets,
accounting for 83 percent with the rest coming to markets in
Major expressway project to soon be back on track
Work is expected to start on another landmark expressway in
the southwest in the near future following a recent policy move.
The government has just given the green-light to the Ministry
of Transport (MoT) to appoint investors to build the important highway
project.
The prime minister moved to decide the MoT to select the
investors based on the state of urgency facing the project.
In an earlier development in mid-October, the prime minister
gave in-principle approval to the 55km Trung Luong-My Thuan expressway
project under the Build-Operate-Transfer (BOT) model with the state
supporting the investment process by allowing investors to collect tolls on
the Ho Chi Minh City-Trung Luong highway.
According to Cuu Long Corporation for Investment, Development
and Infrastructure Project Management (Cuu Long CIPM), which is in charge of
managing the project – the move means the highway’s biggest bottleneck has
been nearly pushed through.
The Trung Luong-My Thuan expressway project was once in the
hands of the Bank for Investment and Development of Vietnam (BIDV), as
developer of the four-lane motorway.
But BIDV reneged on its plans to execute the project two years
later due to its inability to raise the needed capital.
To ensure the project’s feasibility and reduce costs, the
expressway will be scaled down from four lanes to two main lanes with a
designed velocity of 80km per hour and two subordinate lanes with a designed
velocity of 40km per hour.
The project also envisages building approach roads to National
Highway 1 and the main lanes.
As proposed by the project consultant, total investment for
the first phase is around VND14.6 trillion ($698 million), including VND6.75
trillion ($321 million) for construction and equipment and VND2.55 trillion
($121 million) for land compensation and resettlement.
According to Deputy Minister of Transport Nguyen Van The,
construction is slated to kick-off before the end of the first quarter next
year.
Cuu Long CIPM estimates show that current traffic volume on
National Highway 1’s Trung Luong-My Thuan section amounts to 45,000 standard
vehicle equivalents per day, which is expected to reach 100,000 units by
2030.
The timeline for collecting tolls to recoup investment is
slated to begin on January 1, 2019 when the highway opens to traffic and will
continue for 11 years for the Ho Chi Minh City-Trung Luong section and 20
years for the Trung Luong-My Thuan section.
Initial fares will be VND1,700/standard vehicle unit/km for
the former section and VND1,200/standard vehicle unit/km for the latter.
These fare rates are subject to revision every three years
with an expected hike of 18 per cent each time.
A raft of both domestic and foreign investors have revealed interest
in the project, such as the Tuan Loc-Yen Khanh-BMT-Thang Loi-Hoang An
consortium, Metro Pacific Tollway Corp from the Philippines, and local firms
Cienco 1, Cienco 5 and Cienco 6.
Source:
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Năm, 18 tháng 12, 2014
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