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Archive for March 26th, 2010|Daily archive page

Increasing flights on the Can Tho-Hanoi route

In Uncategorized on March 26, 2010 at 3:56 pm




Increasing flights on the Can Tho-Hanoi route


QĐND – Friday, March 26, 2010, 20:45 (GMT+7)

Starting on March 28, the national flag carrier Vietnam Airlines will increase flights on its Can Tho-Hanoi route from 12 to 14 per week, said Luu Minh Chung, head of the airlines’ Can Tho branch.


On the same day, the airlines will open a Ho Chi Minh City-Can Tho-Phu Quoc route with 5 flights per week.


On this occasion, Vietnam Airlines has a special promotional programme at a price of VND304,000 per stop. The programme will be applied through late May, except for special days, from April 28 to May 4.


The window for booking tickets under the promotional programme is from March 22 to April 5.


Source: VOV


Source: QDND

Developing Vietnam’s trademarks in int’l arena

In Uncategorized on March 26, 2010 at 3:47 pm




Developing Vietnam’s trademarks in int’l arena


QĐND – Friday, March 26, 2010, 20:45 (GMT+7)

The European Chamber of Commerce in Vietnam (EuroCham) organized a seminar with Vietnamese businesses in Da Nang City on March 26, focusing on building and developing the country’s trademarks in the international arena.


The event belongs to a project to intensify the efficacy of trade policies for Vietnamese businesses supported by the European Union (EU), which is under the framework of EU-Vietnam MUTRAP III project.   


Five leading experts in Vietnam and the world and their representatives concentrated on discussing strategies for building trademarks in the market in the post-WTO period.


Director of EuroCham, Matthias Duhn, noted that to develop brand awareness, Vietnamese businesses need to build their trademarks with memorable, positive messages, unique to the sensibilities of their current and potential customers in domestic and foreign markets. He emphasized that developing individual trademarks for businesses is an important element to determine their success or failure.    


The seminar provided knowledge for Vietnamese businesses, especially small-and-medium sized ones, about the importance of building trademarks and measures to promote and consolidate them.


Source: VOV


Source: QDND

Monthly minimum salary to increase to 730,000 VND from May

In Uncategorized on March 26, 2010 at 3:40 pm




Monthly minimum salary to increase to 730,000 VND from May


QĐND – Friday, March 26, 2010, 20:44 (GMT+7)

The monthly minimum salary for State employees in Vietnam will increase to 730,000 VND (38.4 USD) from the present 650,000 VND as of May 1.


According to a Government decree issued on March 25, the new salary will be applied in State-owned agencies, armed forces, political and socio-political organisations and non-productive units.


Employees working at enterprises established under the Law on State-owned Enterprises, and one-member limited liability companies wholly owned by the State will also benefit from the change.


The minimum salary will serve as the base for calculating salaries, allowances and welfare benefits in line with the law.


Also the same day, the Government issued another decree to adjust pensions, welfare benefits and monthly allowances with an increase of 12.3 percent from May 1.


Source: VNA


Source: QDND

Street kid training centre lands in HCM City

In Uncategorized on March 26, 2010 at 3:12 pm




Street kid training centre lands in HCM City


QĐND – Friday, March 26, 2010, 20:44 (GMT+7)

KOTO Saigon Training Centre, which serves street and disadvantaged youth from the central and southern provinces, has opened in HCM City.


Attending the opening ceremony on March 23 in District 7 were Graeme Swift, the consul general of Australia, and representatives of the HCM City administration and the local business and non-government communities.


KOTO (Know One, Teach One) is a non-profit hospitality training organisation that has trained over 300 street and disadvantaged Vietnamese youth in Hanoi over the past 10 years.


Source: VNA


Source: QDND

Ho Chi Minh City hosts Asian Symposium in Rhinology

In Uncategorized on March 26, 2010 at 3:04 pm




Ho Chi Minh City hosts Asian Symposium in Rhinology


QĐND – Friday, March 26, 2010, 20:45 (GMT+7)

Five hundred physicians, including 200 leading otorhinolaryngologists from the US, France, Austria, Japan, Italy and Singapore, are attending the 14th Asian Research Symposium in Rhinology, which opened in Ho Chi Minh City on March 26.


The doctors will hear 84 reports on such topics as endoscopic sinus surgery, allergy and immunology treatment, cosmetic surgery, and curing problems of the ear, nose, or throat, said Dr Nguyen Thi Ngoc Dung, President of the Vietnam Otorhinolaryngology Society.


The Vietnamese participants hope to learn a lot from this event to eventually catch up with their counterparts elsewhere.

Source: VOV

Source: QDND

Seminar examines impact of international emigration

In Uncategorized on March 26, 2010 at 2:35 pm




Seminar examines impact of international emigration


QĐND – Friday, March 26, 2010, 20:45 (GMT+7)

Domestic and foreign researchers gathered at the Asia-Pacific Centre in Hanoi on March 26 to discuss the effect of international emigration on development in labour exporting countries.


They proposed some policies to optimize the development impact of international emigration for Vietnam. Current policies have not been effective, but resolving the problem will require close coordination by the countries involved.


International emigration has increased dramatically since the end of the US war in Vietnam. The latest statistics indicate that approximately 5 percent of Vietnamese families have one or more family members residing abroad ( about 1 million people). Vietnamese people have emigrated to almost 30 percent of the countries and territories of the world. The countries with the largest number of Vietnamese residents are the US, Taiwan, the Republic of Korea, Malaysia and Russia. Most emigrants are between the ages of 17 and 45 and have resided 1-5 years abroad.


Remittances from abroad are a significant factor in many families’ income and living standard. Remittances have increased significantly in recent years.


Seminar participants agreed that government agencies, local authorities, and communal organisations should work closely with each other to improve people’s awareness of the opportunities and risks brought by international emigration. The Vietnamese government should devise policies to encourage skilled workers and experts to return and put their know-how to use at home.

Source: VOV

Source: QDND

Thua Thien-Hue celebrates 35th liberation day

In Uncategorized on March 26, 2010 at 2:30 pm




Thua Thien-Hue celebrates 35th liberation day


QĐND – Friday, March 26, 2010, 20:44 (GMT+7)

The central province of Thua Thien-Hue organised a solemn meeting on March 26 to celebrate 35 years of its liberation.


Minister of National Defence Phung Quang Thanh, National Assembly Vice Chairman Uong Chu Luu, Deputy Prime Minister Hoang Trung Hai, and the former Party General Secretary, Le Kha Phieu joined more than 10,000 local officials, soldiers and people at the event.


Addressing the ceremony, Chairman of the provincial People’s Committee Nguyen Ngoc Thien said Thua Thien-Hue was one of the South’s pioneers in the resistance war against US aggressors.


During the struggle for national independence and reunification, the province saw more than 18,000 combatants lay down their lives, 11,000 others suffer from injuries, over 6,000 officials and Party members imprisoned and tens of thousands of people killed, Thien said.


Thirty-five years after its liberation, Thua Thien-Hue has recorded rapid and comprehensive economic growth, he said, citing its budget collection of 2.7 trillion VND and per capita GDP of over 1,000 USD in 2009.


Thua Thien-Hue is now striving to become a centrally-run city within the next few years, the chairman stressed.


On behalf of Party and State leaders, Minister Thanh praised contributions made by Thua Thien-Hue’s Party organisation, soldiers and people in the anti-US resistance war.


The minister urged the province to uphold the tradition of solidarity to reap greater achievements in economy, security and national defence, making it an economic, cultural, educational and health centre of the whole country.


Source: VNA


Source: QDND

Call to stamp out footpath vendors received with caution

In Uncategorized on March 26, 2010 at 2:23 pm




Call to stamp out footpath vendors received with caution


QĐND – Friday, March 26, 2010, 20:44 (GMT+7)

Whether Hanoi should stamp out footpath vendors and street markets and expand supermarkets topped the agenda at a Public Service conference in Hanoi this week.


Many conference delegates said supermarkets play an important role in urban life, but if small markets are stamped out, other temporary markets will spring up, making it difficult for authorities to keep control.


This was not to mention the number of people whose livelihood depend on selling produce at such markets.


Under a plan to upgrade and develop the city’s market system until 2020, Hanoi would have 489 markets, 162 commercial centres and 178 supermarkets.


Participants also argued that footpaths in Hanoi have gradually lost their function for pedestrians. They are now used foe business purposes such as extensions to shop showrooms and food stalls and for street vendors, parking motorbikes or repair services, they said.


Professor Ton Gia Huyen fron the Vietnam Land Science Association said the city’s development is outstripping its management.


Huyen said the city People’s Committee’s decision to allow traders to use footpaths wider than 3m to do their business from September 2007 had created open slather with more than 2 million metres of footpath under districts’ management.


However, head of the Ministry of Construction’s urban development management department’s planning office Tran Lan Anh said many countries permit multiple uses for footpaths, just that they needed to be kept under strict control to ensure order and security.


Source: VNA


Source: QDND

Former Politburo member dies at 72

In Uncategorized on March 26, 2010 at 2:18 pm




Former Politburo member dies at 72


QĐND – Friday, March 26, 2010, 20:44 (GMT+7)

Tran Dinh Hoan, former Politburo and Secretariat member of the Communist Party of Vietnam’s Central Committee and head of its Commission for Organisation and Personnel, passed away on March 25 at the age of 72.


The announcement, made on behalf of the Party Central Committee, the National Assembly, the President, the Government, and the Vietnam Fatherland Front Central Committee, said that the deceased would be given a State funeral.


The memorial service will begin at 7am on March 27 at the State Funeral Hall at 5 Tran Thanh Tong Street , Hanoi.


He will be buried at the Mai Dich National Cemetery in the capital.


Source: VNA


Source: QDND

Businesses lament high negotiable interest rates

In Uncategorized on March 26, 2010 at 11:49 am

Negotiable lending rates in Vietnam have soared to as much as 18 percent per year, causing great anxiety for local businesses, especially small ones.


The State Bank of Vietnam’s policy on applying negotiable interest rates for medium- and long-term loans states the aim of creating a fair credit environment for all businesses. However, many businesses said that in fact, they cannot afford the current lending rates.
 
High interest, yet hard to get loans


Due to rising input expenses, which are now much higher than in late 2009, many enterprises are trying to lower production costs by renovating technology and equipment to reduce energy and increase efficiency, said Cao Tien Vi, chairman of the HCMC Young Business People Association.


Tran Quoc Manh, deputy chairman of HCMC Handicrafts and Wood Industry Association and also general director of Saigon-Dak Lak Company (Sadaco), said wood processing has now entered its peak business period and the industry is receiving numerous orders. “To fill these orders, companies rely mainly on bank loans,” said Mr. Manh.


“However, the problem is that the sector currently gains a profit rate of only around 10 percent; so how can they afford loans at negotiable interest rates of as much as 18 percent per year?” he asked.

Customers at VIBank in Hanoi. Many businesses say they cannot afford negotiable lending rates that have increased to as much as 18 percent. (Photo: SGGP)

Meanwhile, businesses are facing increased production costs as the price of packaging, paint and materials has surged by 15-20 percent, Mr. Manh added.


Nguyen Duc Tien, director of Tay Nguyen Coffee Investment and Import-Export JSC, said capital flow in the market has showed signs of slowdown. “In previous years, our company could get bank loans of as much as VND500 billion (US$26.3 million), but presently, we can get only VND100 billion total from banks,” he said.


“Banks say they are facing difficulties in capital mobilization,” Mr. Tien added.


Without enough capital, many businesses have no other choice but to sell products at lower prices in hopes of seeing a faster return to repay bank loans, he said.


Experts forecast that this year the country could see $1 billion in cashew exports for the first time. To realize this, however, exporters need around VND14.82 trillion ($780 million) to carry out their export strategies, Mr. Tien said.


“Given the current situation, the mobilization of so much capital is not easy at all,” he said.


Lending rate suggested at 13-14 percent


Many enterprises said their sales this year were initially predicted to climb by 5-7 percent, but now, there may be no growth at all for some due to increased input costs.


Several businesses have also seen their investment plans come to a standstill, as they cannot afford the high lending rates, said Mr. Vi. “According to calculations by some experts, only when a company gains a profit rate of 25 percent per year can it survive such high interest rates.”


Mr. Manh pointed out that “loan interest is allowed to be negotiable but requirements for businesses to access bank loans have yet to be loosened. As a result, many companies, especially small ones, have not been able to get loans since they have no assets to use as mortgages, although they agree to borrow money at high interest.”


Negotiable interest rates should be a maximum of 13-14 percent per year, most businesses have suggested. At this rate, companies can restrain production costs, make their business profitable, and maintain the competitiveness of their products on the market, they said.


The high interest rates have also recently undermined the competitiveness of the country’s exports, they added.


In related news, on March 25 the State Bank of Vietnam’s Governor Nguyen Van Giau issued a decision to maintain the prime rate in VND at 8 percent per year, effective from April 1.


As such, the prime rate has been kept unchanged for four consecutive months.

Source: SGGP

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