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BUSINESS IN
BRIEF
CP TPP expected to boost Vietnam-Chile economic ties
The
newly-signed Comprehensive and Progressive Agreement for Trans-Pacific
Partnership (CP TPP), of which
In
an interview granted to the Vietnam News Agency, the diplomat noted that
since
They
have signed many deals facilitating their affiliation, including a free trade
agreement in 2012. Two-way trade grew impressively to 1.3 billion USD in 2017
from only under 200 million USD in 2005.
They
have set up dialogue mechanisms in politics and economy, along with annual
meetings to review cooperation outcomes and map out collaboration plans for
following years.
Son
stressed that the two sides are open economies, holding that the CP TPP will
help further expand and develop bilateral economic, trade and investment
partnerships.
The
ambassador said that almost all Presidents of Chile have visited
At
the same time,
However,
he said that bilateral investment remains modest, citing they are yet to have
any project in each other' territory.
The
diplomat also pledged that the Vietnamese Embassy in
Deputy
Foreign Minister Bui Thanh Son spoke highly of
Son
congratulated
He
asked
He
expressed his hope that
Iwao
Horii spoke highly of
He
showed his delight at the signing of the CPTPP between
He
expressed his hope that
He
affirmed that his country supports efforts to maintain peace, stability, and
maritime and aviation freedom in the
Both
host and guest agreed to coordinate closely to prepare for visits made by the
two countries’ leaders this year when they are celebrating the 45th
anniversary of bilateral diplomatic ties.
Nghe An asked to double economic scale by 2025
Prime
Minister Nguyen Xuan Phuc has asked the central
The
Government leader made the request while addressing the 10th annual meeting
with investors conference in Nghe An on March 10, which drew a large number
of domestic firms and foreign businesses from various countries such as
Lauding
the local government's efforts and strong determination to attract
investment, the PM said that Nghe An's experience is helpful for other
localities in investment promotion.
He
held that the joint determination of local government and investors has made
Nghe An an attractive destination for businesses with large projects, showing
the good combination between domestic and foreign-invested capital resources.
The
PM noted that Nghe An has various favourable conditions for development in
all fields, including its location as a transit point of northern and
southern economic regions, as well as a population of nearly 4 million.
The
province ranked 25th out of 63 localities in the 2016 provincial
competitiveness index, seven spaces higher than 2015, he noted, adding that
many other indications, including those on market engagement and labour
training, also increased.
However,
the province's performance in unofficial costs and land use remained modest,
he said, asking the locality to continue improving its investment and
business environment to lure more investors.
The
PM urged Nghe An to continue building a dynamic, action-oriented and
dialogue-willing government with better services for investors, while fully
implementing commitments with investors and staying ready to respond to their
requests.
Nghe
An should join neighbouring Thanh Hoa and Ha Tinh provinces to form a growth
with modern industry and smart agriculture and play the role as the driving
force for the inclusive growth of the northern central region and the country
as a whole in the near future.
He
underlined that the province needs to tap its advantages in location to draw
more investment, technology and high quality human resources, while
encouraging and creating favourable conditions for the growth of support
industries and other related sectors.
Although
industry and services play a more important role in the economy, Nghe An
province should develop agriculture comprehensively, with the focus on
biological, organic and hi-tech agriculture, considering it a firm basis to
for the locality to grow sustainably and strongly, PM Phuc said.
The
province should pay attention to early upgrading the Thanh Thuy border gate
and Vinh airport to international ones, attract investment from the private
sector, especially in infrastructure of industrial zones, seaports and
airports, and work to hasten the progress of a highway project which will
help reduce the travel time from Hanoi to Nghe An to 2.5 hours.
The
Government leader stressed the need for the locality to improve the quality
of education and carry out policies to draw investment in high-quality
universities and vocational schools in the fields of information technology,
bio-technology, and manufacturing technology, as well as encourage the
involvement of both domestic and foreign intellectuals in the local economic
development.
He
requested ministries, sectors to soon study and submit to the Government
appropriate policies and mechanisms to connect the north central and central
economic regions and Nghe An in particular to mobilise maximum resources and
improve the business and investment environment in order to help Nghe An and
its neighbouring Ha Tinh grow stronger in the time to come.
He
also asked investors to realise their commitments, combine economic
development with environmental protection, and ensure the interests of
labourers.
This
year’s conference continued to attract numerous big investment projects in
Nghe An. The province granted investment licences to nine projects, and
signed 16 memoranda of understanding on investment cooperation with a total
registered capital of 13.1 trillion VND (576.4 million USD).
The
Bank for Investment and Development of Vietnam (BIDV) and the Sai Gon-Hanoi
Commercial Joint Stock Bank (SHB) handed over three agreements providing
credits worth 800 billion VND (35.2 million USD).
On
the same day, the Government leader offered incense at the Dong Loc
T-junction Relic Site to commemorate the 10 female youth volunteers who died
on duty at the T-junction during wartime in Can Loc district, Ha Tinh
province.
He
also paid tribute to late President Ho Chi Minh at Nghe An’s Kim Lien relic
site.
Growth boosts demand for industrial land
Demand
for industrial land around the country is expected to increase thanks to
significant growth in terms of both industrial production and FDI.
Last
year
FDI
flows into
At
HCM City IPs, according to real estate service consultant Colliers
International, at the end of 2017 the average annual rent was 142.2 USD per
square metre, an increase of 0.9 percent from the previous year.
By
2025 it is expected that more 2,300ha in eight new industrial parks will come
into the market with a promise of better infrastructure and services.
From
now through 2025 rents are expected to increase sharply.
Authorities
around the country continue to offer incentives to promote supporting
industries.
The
Around
200 hectares in the Hiep Phuoc and Le Minh Xuan 3 Industrial Parks will be
earmarked for supporting industries.
Rents
in
By
2020,
“With
a business-friendly environment and high demand from customers, we hope the
trend will continue through 2018,” David Jackson, General Director of
Colliers International Vietnam, told the Thoi bao Kinh te
“
In
other cities too, demand for industrial land has increased as many
enterprises have expanded their production since the beginning of this year.
For
instance, HTMP Ltd signed a contract with TNI Holdings Vietnam to expand its
production at the
Industrial
production has recovered and is expected to expand, and the occupancy ratio
at industrial parks has significantly increased, especially this year.
Lack of funds hinders MSMEs’ growth
Micro-,
small- and medium-sized enterprises (MSMEs) account for nearly 97 percent of
the total number of businesses in
But
despite being the backbone of the city and country’s economy, MSMEs facing
many challenges in accessing funding to upgrade technology to boost
productivity and competitiveness.
According
to a survey by the HCM City Business Association, of the number of original
brand manufacturers (OBM) – enterprises that design their own products, buy
components produced by others and sell products under their own brands –
operating in city’s six key industries of mechanical engineering, food processing,
chemical-plastics-rubber, electronics-information, textile-garment and
footwear, only 48 percent are MSMEs.
Moreover,
MSMEs that operate as OBM in mechanical engineering, chemical-plastics-rubber
and electronics-information use limited or out-of-date technologies.
Do
Phuoc Tong, chairman of the HCM City Association of Mechanical Electrical
Enterprises, said that most mechanical enterprises are MSMEs or household
businesses.
Since
they lack new technologies and research and development capacity, MSMEs,
usually working as sub-contractors for big companies or second- and
third-class suppliers, mainly handle raw materials and assemble products with
very low value addition, he said.
Besides,
Vietnamese consumers’ preference for “foreign brands” is also a big challenge
for MSMEs.
Tong
said there are Vietnamese products that match the quality of foreign-made
items, but they are not accepted in local markets until they are exported to
overseas markets like
Export-import
enterprises claimed it is because Vietnamese export products are “better”
than local ones though local manufacturers said they are of the same quality.
Whatever
the reason is, the fact remains that enterprises have to bear the logistics
costs of sending their products overseas to sell them at home.
MSMEs
are unlikely to grow rapidly in the near future due to shortcomings in
Government policies, one of which is the tax regime, according to experts.
To
attract foreign investment, the Government waives tax on import of machinery,
equipment and tools by foreign direct investment (FDI) companies for use in
manufacture. But local enterprises have to pay 10 percent import tariff on
the same stuff.
The
cumbersome procedures involved in getting loans also make it harder for MSMEs
to operate. Most lenders demand mortgage of assets which is a big problem for
MSMEs.
Nguyen
Dinh Tue, director of the Centre for Supporting Small and Medium sized
Enterprises, said because of financial constraints, MSMEs cannot upgrade
their technologies or improve productivity to compete on price.
To
support MSMEs, the Government needs to create a healthy business environment
and reduce issues like red tape and harassment. Besides, to help them access
credit, the Government should share their risks to reduce their mortgage
burden, Tue said.
Director
of the city’s Department of Trade and Industry, Pham Thanh Kien, said his
department is considering a lending rate cut in preferential loans for
enterprises to below 7 percent.
The
municipal Department of Trade and Industry recently said it would continue to
work with the State Bank of
They
are agriculture and rural development, exports, MSMEs, supporting industries,
and enterprises that adopt new technology.
Under
the programme, credit institutions in the city can sign up to lend to
enterprises at a preferential interest rate of 6.5 percent for short-term
loans and 8–9 percent for medium- and long-term loans.
Moreover
this year, banks will consider further cut interest rates for enterprises
that borrow a second or a third time through the programme.
The
link-up programme, initiated by the SBV, began in 2012. Last year, banks
provided loans worth more than 300 trillion VND (13 billion USD) to 15,778
enterprises participating in the programme.
Up
to 291 million USD was poured into Vietnamese start-ups last year, a
year-on-year increase of 42 percent, according to a recent report by Topica
Founder Institute (TFI).
Ninety-two
start-ups received investment last year, almost a double from 2016.
Domestic
investors accounted for 64 deals, while foreign investors made 28.
For
the first time, local venture capitalists and angels bypassed foreigners in
deal count. However, foreign investors still generated higher deal value.
The
amount domestic investors poured into Vietnamese start-ups in the past year
was only 46 million USD, relatively modest compared with the 245 million USD
from foreign investors.
Among
investors, 500 Startups led in successful investment deals, with 11 acquisitions,
followed by ESP Capital, a new homegrown venture capital firm.
With
20 million USD in establishing funds, ESP Capital is focused on technology
start-up companies in their beginning stages (pre-seed and seed funding
stages), with investment funds from 50,000 USD to 300,000 USD.
Thanks
to the rise of domestic investment funds, Vietnamese firms like VIISA, ESP,
VSV, 500 Startups
Formerly
known as a "unicorn" startup in Asia, Sea Group (formerly Garena)
topped the list of investors pouring capital into Vietnamese start-ups last
year.
The
report said that Sea paid 64 million USD to acquire an 82 percent of stake in
Foody, a restaurant review start-up.
Besides,
Sea also acquired two top Fintech and logistic players. The details are
undisclosed but the value is estimated at up to 50 million USD.
CyberAgent
Ventures, a venture capital fund from
The
fund successfully exited four deals this year with Foody, CleverAds, Tiki and
Vexere.
In
addition, the Norwegian telecommunication company Telenor’s acquisition of
701Search, regional holding of Chotot.vn, a local classified site, for 109
million USD was one of the notable deals to watch within the Vietnamese
start-up ecosystem.
According
to observers, with a growth rate of about 22 percent a year, the Vietnamese
e-commerce market is a lucrative slice for businesses with investments from
many domestic and foreign tech giants.
Specifically,
there are 21 e-commerce investment deals conducted with a total value of 83
million USD last year.
In
particular, Tiki has received a Series C investment up to 54 million USD from
investors JD.com and STC Investment.
Meanwhile,
Sea, which is well-known for managing and operating popular games, is taking
over two Vietnamese start-ups in this field.
Sea
CEO Forrest Li shared with the media that the company is moving toward
e-commerce. The acquisition of the two start-ups in
Following
e-commerce is foodtech with the presence of Foody, Cooky and an undisclosed
platform and social community related to food and restaurants, at a total
deal size of 65 million USD.
Fintech
ranked third, with eight investment deals, worth 57 million USD.
Media
is also one of the hot areas with nine deals and more than 18 million USD in
deal value.
Logistics
and online travel are also included in the list with five deals in total,
valued at 18 million USD and 10 million USD, respectively, with some big
names including Vntrip and Inspitrip.
Nghe An lures investments
Nghe
An Province has emerged as a hot investment destination when many areas in
the North and South have shown signs of saturation with increasing capital
flowing in the province in recent years, attendees told a workshop on
investment attraction and support in the province held on March 9.
According
to Do Nhat Hoang, director of the Foreign Investment Agency, the region
should take the initiative to develop its infrastructure and quality of human
resources in order to take advantage of the Comprehensive and Progressive
Trans-Pacific Partnership (CPTPP) Agreement which
Meanwhile,
Nghe An Province has enjoyed significant growth in investment inflow in the
past 10 years thanks to its enormous efforts in building infrastructure and
improving the investment climate and business conditions.
The
north central coastal province has drawn 980 investment projects (927
domestic and 53 foreign direct investment projects) with total registered
capital of VND276 trillion (US$12.1 billion) in the last 10 years, a record
high compared to the previous periods, a provincial People’s Committee’s
report showed.
In
2017 alone, the province inaugurated 176 new projects with combined
registered capital of over VND14.5 trillion.
Dairy
firm TH Group has invested a total of VND65 trillion in this region,
including a $1.2-billion hi-tech concentrated dairy and fresh milk production
project. Sabeco has two projects worth a combined VND2.4 trillion.
PetroVietnam has four projects with total investment capital of VND7.5
trillion. Hoa Sen Group has two steel projects worth VND7.3 trillion.
Vingroup invested in a resort complex worth VND900 billion.
Many
foreign companies have also opted to invest in Nghe An, such as WHA Group’s
$1 billion industrial park construction, the $30 million Hitech BSE
telecommunications electronic equipment factory and Mavin AustFeed’s VND325
billion cattle feed plant.
Increasing
investment has helped the province shift its economic structure towards
modernity, contributing to the growth in local budget revenue, from VND4.44
trillion in 2009 to VND12.03 trillion in 2017, creating tens of thousands of
jobs for local workers. The province’s per capita income has increased to
VND29 million ($1,272) per year.
Nghe
An is one of the few provinces which have established an investment promotion
and support centre under the provincial People’s Committee. This one-stop
agency has helped reduce procedures for investors. The authority has also
actively engaged in direct dialogue with the business community to listen to
solve problems quickly.
In
2009, the province initiated the first investment promotion conference with
the participation of three parties (authority, investors and creditors) which
aimed to resolve problems for businesses, enhancing the business environment
and attracting more investment.
The
“Meeting Investors”, with the participation of the Prime Minister and
representatives of leaders of central and local ministries and sectors, has
become Nghe An’s iconic annual event with entrants increasing from 200 to
about 1,000 visitors this year.
Along
with attracting investment by the red carpet and support policies, the
provincial authority has been accelerating the planning for infrastructure
development, especially transportation, to ensure the favorable movement of
goods and services. – VNS
PM attends the 10th investment conference in Nghe An
Prime
Minister Nguyen Xuan Phuc will attend the 10th investment promotion
conference in Nghe An Province on March 10.
The
provincial authority will present its achievements in investment attraction
in the province in the past 10 years, as well as introduce its socio-economic
issues and investment environment and policy. The Government leader will
deliver a speech, giving direction for the province’s investment and
socio-economic development in the coming years.
The
conference opens investment opportunities for businesses in the region. It is
expected to draw 1,000 delegates this year, including state management
agencies, embassies, international financial organisations, big domestic and
foreign corporations and potential investors.
Developers should lead planning: experts
The
Government should acknowledge the significant role developers play in the
real estate market and in city planning, experts have said.
Dr
Huynh The Du of Fulbright University Viet Nam, speaking at a workshop on
March 9 on the role of developers in HCM City’s real estate market
development programme, said the Government has a limited role to play in
setting the scene and developers should be the ones to lead the market as
they know what projects need to be built and where.
One
developer said: “The city’s urban planning is not done in an effective way at
the moment. Even the person who approves [housing] projects does not really
have a clear idea of what they are doing.”
Yet
to some extent developers have to rely on the master plan, she added.
Du
said the Government has the role of regulating the market.
Prof
Richard Peiser from the Graduate School of Design at
“Often
city leaders think they are the ones that lead the market and can set the
context and the playing field, but developers are the ones who take the risk
and someone has to take the risk.
“Developers
are the key because they are the ones who tidy up the land, bring the capital
and have the responsibility of having the project built.
“They
are at the centre of making it happen.”
But
he also said one of the key ingredients for a vibrant and competitive real
estate market is proper regulation by the Government.
To
promote the development of the real estate market, the Government should also
try not to limit the participation of FDI investors since they bring capital,
promote competition and improve design standards in the market, he said.
Asked
how local developers can compete with international players who are from more
developed markets if the Government opens the doors wide to FDI investors, he
said: “Real estate is a very local business and local developers always have
better information and certain natural advantages.”
Maybe
in big projects local developers would be somewhat at a disadvantage, so it
is appropriate that the Government requires a certain amount of legislation
to better monitor the market, he said.
Some
protection is good but in general it should not keep out foreign investors,
he added.
Last
year foreign investment in real estate amounted to 8.5 per cent of the city’s
total FDI of $3.05 billion.
FLC to build resort complex in Quang Ngai
The
People’s Committee of central
The
FLC Binh Chau – Ly Son complex would cover four coastal communes including
Binh Chau, Binh Phu, Binh Hoa and Binh Hai in the province’s Binh Son
District and 20ha in Ly Son and An Binh islands.
The
complex would include a five or six star hotel, beach resort, villas, golf
courses, a 1,500-seat international convention centre, entertainment area,
trade centre and a boat cruise connecting Binh Chau and Ly Son Island.
FLC
Group asked the province to hand over clean land for them to start the
project’s first phase in the second quarter of the year.
The
two sides also discussed building a 16ha twin tower in the province or
hi-tech agriculture projects.
FLC’s
chairman Trinh Van Quyet expected that the province would support the
investor in launching the project as soon as possible.
The
province said tourism and service development are considered a key task in
its 2016-20 development plan. Quang Ngai has the potential of diversified
landscapes and local distinctive culture. However, it has not seen big
tourism projects which could improve the sector.
It
added that it would facilitate FLC in completing the necessary procedures for
the project.
The
Nawaplastic Industries, an affiliate of Thailand’s SCG Group, on Friday
successfully bought 29.51 per cent of stake of Binh Minh Plastics Company
(BMP), or 24,159,906 shares worth more than VND2.33 trillion (US$102.35
million).
The
shares have a reference price of VND96,500 each.
The
trading has bought the Nawaplastic Industries’ total ownership at BMP to
49.91 per cent of the stake.
The
auction was held by the State Capital Investment Corporation (SCIC), which
owns over 29.5 per cent of stake at BMP.
At
the auction, there were two participants including the Nawaplastic Industries
and an individual.
The
Nawaplastic Industries has ordered the lot at the reference price, but gave
away 20,000 BMP shares to an individual.
Vinachem announces equitisation plan for 2018
The
Viet Nam National Chemical Group (Vinachem) has announced its equitisation
and divestment plans for its member companies in 2018.
Regarding
the plan, Vinachem will seek the approval of the Prime Minister and Ministry
of Industry and Trade to issue a decision on the corporation’s equitisation
of its three member companies in the first and second quarter of 2018.
The
three companies are the Viet Nam Apatite One Member Limited Company, the Viet
Nam Institute of Industrial Chemistry and the parent company of Vinachem.
This
is part of Decision No.16/QD-TTg dated January 5, 2018, signed by Deputy
Prime Minister Vuong Dinh Hue, approving the restructuring plan for Vinachem.
The
decision, designated for 2018-2020, aims to improve Vinachem’s structure,
capacity, production efficiency and business competitiveness.
While
signing the decision, the deputy prime minister stated the need for
streamlined and compact business models after the equitisation and divestment
process at Vinachem and its member companies.
Regarding
the divestment plan, the key focus of Vinachem is State divestment from a
number of its subsidiaries.
For
seven companies that Vinachem is holding 50-plus per cent to less than 65 per
cent stake, Vinachem will maintain a 51 per cent stake at Ninh Binh Phosphate
Fertiliser Joint Stock Company and Viet Nam Pesticide Joint Stock Company.
At
the same time, it will sell a part of its stake in the other five companies,
which are Industrial Gas and Welding Electrode Joint Stock Company, Viet Tri
Chemical Joint Stock Company, South Basic Chemicals JSC, Lam Thao Fertilisers
and Chemicals Join-Stock Company and VanDien Fused Magnesium Phosphate
Fertiliser Joint Stock Company.
For
nine companies that Vinachem is holding less than 50 per cent stake, it will
reduce the portion to 36 per cent. The nine companies are Southern Rubber
Industry Joint Stock Company, Da Nang Rubber Joint Stock Company, Yellow Star
Rubber Joint Stock Company, Binh Dien Fertiliser Joint Stock Company, Can Tho
Fertiliser and Chemicals Joint Stock Company, Southern Fertiliser Joint Stock
Company, Net Detergent Joint Stock Company, Lix Detergent Joint Stock Company
and Dry Cell and Storage Battery Joint Stock Company.
Vinachem
will also divest completely in 15 other companies, including Hanoi Soap Joint
Stock Company, Vinh Phu Storage Batteries & Dry Cells Joint Stock
Company, Inoue Rubber Viet Nam Co Ltd, TPC VINA Plastic and Chemical
Corporation Limited and Southern Chemical Import and Export Joint Stock
Company.
"Vinachem
has clearly defined its restructure roadmap. However, in order to overcome
challenges and difficulties, in addition to the efforts of leaders and staff,
Vinachem hopes to receive support from the Government, related ministries and
agencies,” Vinachem said.
Vinachem’s
main businesses are production and trading of basic chemicals, and mining and
processing of raw material for fertilisers, pesticides and chemical
production.
VP Bank stock permitted for margin trading
The
HCM City Stock Exchange (HoSE) has removed the shares of Viet Nam Prosperity
Joint Stock Commercial Bank (VPB) from the list of securities not eligible
for margin trading.
Six
months have expired since the first trading date on August 7, 2017.
On
the stock market, the price of VPB was VND65,100 (US$2.9) per share on
Thursday, and the average liquidity was nearly 4.3 million shares per
session.
In
2017, VPB posted a pre-tax profit of more than VND8.1 trillion, registering a
65 per cent year-on-year increase.
The
bank’s total assets reached nearly VND278 trillion last year, increasing 21
per cent from the previous year.
Customer
lending rose by 24 per cent to VND196 trillion in 2017, and the deposit was
VND200 trillion, up 16 per cent from the previous year.
Its
turnover growth rate in 2017 was VND25 trillion, posting a 48 per cent
year-on-year rise. The net profit rose by 36 per cent and net services by 70
per cent. It used more than VND8 trillion for its risk prevention fund.
The
bank’s growth quality was also seen through the return on equity (ROE) of
27.47 per cent and the return on assets (ROA) of 2.54 per cent.
Rong Viet Securities profit doubles
Rang
Viet Securities Company has reported that its profits more than doubled
year-on-year in the first two months.
Its
pre-tax profit in the period was VND30 billion (US$1.3 million), on revenues
of VND75 billion ($3.3 million).
Revenues
from margin trading rose by over 48 per cent while income from brokerage saw
a whopping 179 per cent jump.
The
company said 2018 is the first year since its restructuring.
This
year it targets after-tax profit of VND144 billion ($6.3 million).
It
plans to increase its registered capital to VND1 trillion ($43 million) by
issuing shares and invest in human resources and IT.
Vinacapital, Maybank Kim Eng host VN Corporate Day in London
VinaCapital
and Maybank Kim Eng Securities hosted the Viet Nam Corporate Day in
The
event, featuring large cap companies like Coteccons, FPT Retail, HDBank, Phu
Nhuan Jewelry, Eximbank, and Vietjet Air, was attended by around 100 institutional
investors with combined assets in excess of US$7 trillion.
“Viet
Nam’s stock market has become one of the most attractive destinations for
international investors thanks to solid progress in the SOE privatisation
programme and the Government’s focus on foreign investments,” Kim Thien
Quang, CEO of Maybank Kim Eng Viet Nam, said.
Don
Lam, CEO of VinaCapital, said the event was in line with his fund’s efforts
over the last 14 years to promote
“From
the success of Viet Nam Corporate Day, I believe more investors will take
notice that
In
the first two months of 2018,
Deputy
Minister of Agriculture and Rural Development Ha Cong Tuan said his Ministry
will seek to raise growth targets.
“We
have reviewed measures toward higher growth targets. Next week, we will meet
and then submit to the government our revised solutions. This year, we aim to
achieve a growth rate of 3.05% against the set target of 3% and earn US$40.5
billion from export instead of previous target of US$38 billion”, said Mr
Tuan.
The
Ministry is working to eliminate the “yellow card” imposed on Vietnam’s
fisheries by the European Commission before the deadline April 23rd. Nguyen
Thi Phuong Dung, Deputy Director of the International Cooperation Department
of the Directorate of Fisheries said that the revised Law on Fisheries has
integrated the EC’s recommendations on preventing and fighting illegal,
unreported and unregulated fishing (IUU).
Ms
Dung said, “The Ministry of Agriculture and Rural Development has sent
dispatches to the Ministry of Public Security and Ministry of National
Defense requesting close coordination in implementing the Prime Minister’s Decree
45 on urgent measures to deal with the EC’s warnings on fighting illegal,
unreported, and unregulated fishing.
The
Ministry has asked the fisheries surveillance force to increase patrols and
monitoring at sea. It updates list of illegal fishing vessels on a monthly
basis, increases the local administrations’ responsibilities, and cooperates
with other countries which claim violations of fishing vessels.”
The
Ministry is undertaking drastic solutions including promoting incentives to
lure more investment in agriculture, and strengthening the value chain in
production, processing and consumption of agricultural products to achieve
set targets.
New prospects for
Tran
Tuan Long, President of Thiet Thach Construction Investment JS Company, said,
“I hope that Vietnam and HCM City will achieve even more outstanding economic
achievements than last year, a stellar year for the Vietnamese economy. I
hope the business community will thrive and help
Returning
to
According
to Lam, “in order to build a smart city and a qualified team of leaders,
policies are needed to support human resource training. To attract talent we
need a good salary mechanism. Cadres need to be professionally trained for
the long term.”
In
response to the government motto “Disciplined, incorruptible, active,
creative, and effective”, the city will implement 7 breakthrough programs to
improve growth and economic competitiveness in combination with comprehensive
economic restructuring.
Nguyen
Thien Nhan, a Politburo member and Secretary of the municipal Party
Committee, said that this year HCMC has adopted 3 new breakthrough solutions
to create motivation in addition to the 7 breakthrough programs to exploit
the new mechanisms.
He
said, “The first solution is to fine-tune the management mechanism. Second is
building a smart city. And the third solution is to mobilize domestic and
foreign consultants to design an innovative urban center which comprises
district 9, home to high-tech zones, district 2 with new urban areas and a
financial center, and Thu Duc district with 12 universities with more than
1,500 doctorates and lecturers, and 70,000 students.”
VNN
|
Thứ Hai, 12 tháng 3, 2018
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