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Archive for August 18th, 2010|Daily archive page

Hanoi-Warsaw direct route to open in mid-November

In Uncategorized on August 18, 2010 at 3:24 pm

Hanoi-Warsaw direct route to open in mid-November

QĐND – Wednesday, August 18, 2010, 21:15 (GMT+7)

The LOT Polish Airlines will open a new Hanoi-Warsaw direct flight route in mid-November.

According to plan, a Boeing 767-300 will take off from Hanoi at 0.10am and arrive in Warsaw, Poland at 6.05am (local time) every Monday, Wednesday and Friday.

Another plane will leave Warsaw, Poland, at 10.40pm, and arrive in Hanoi at 3pm (local time) every Monday, Wednesday and Saturday.

“Ticket prices for Hanoi-Warsaw will cost at least US$380, not including tax and additional fees,” said Krzysztof Kolodziej, head of the representative office of LOT Polish Airlines in Vietnam.

The Polish national carrier was established in 1929 and is a member of Star Alliance. Currently, the airline possesses 55 airplanes and reaches 60 destinations in Europe, the Middle East and North America.   
Source: VOV

Source: QDND

Vietnam now has nearly 12,000 FDI projects

In Uncategorized on August 18, 2010 at 3:24 pm

Vietnam now has nearly 12,000 FDI projects

QĐND – Wednesday, August 18, 2010, 21:12 (GMT+7)

Vietnam has 11,807 foreign invested projects (FDI) with a total registered capital of US$188.4 billion, according to the Foreign Investment Agency under the Ministry of Planning and Investment.  

HCM City attracts most of the FDI projects with a total capitalization of US$28.7 billion, followed by Ba Ria-Vung Tau with nearly US$26 billion. Hanoi makes up 25.49 percent of the total projects and 17.6 percent of registered capital.

Four south-eastern provinces host 60.14 percent of total projects valued at 51.66 percent of registered capital, while the north-western region makes up barely 0.34 percent of the total projects and 0.11 percent of registered capital.

Currently, 91 countries and territories have invested in Vietnam. The Republic of Korea takes the lead with 2,570 projects capitalised at US$23 billion.

Source: VOV

Source: QDND

Vinashin committee works on restructuring group

In Uncategorized on August 18, 2010 at 3:23 pm

Vinashin committee works on restructuring group

QĐND – Wednesday, August 18, 2010, 21:12 (GMT+7)

Permanent Deputy Prime Minister Nguyen Sinh Hung has reiterated the need to consolidate the Vietnam Shipbuilding Industry Group (Vinashin)’s operations to help the group stabilise and develop into the key component of the country’s shipbuilding industry. 

Mr. Hung, who is also head of the steering committee for the restructuring of Vinashin Group, made the statement at a working session in Hanoi on August 17. 

The steering committee should make accurate assessments of the operational capacity of Vinashin’s holding company, subsidiary companies, joint ventures and investment projects as well as the group’s debts to find out the best solutions for restructuring, he said. 

In an instruction signed on August 16, Prime Minister Nguyen Tan Dung required that any development plan for Vinashin should focus on three main operations, which are shipbuilding and repair, support industries for shipbuilding and training a skilled workforce in this field. 

He asked the Ministry of Transport to present a plan on restructuring the group to him within the fourth quarter of this year. 

The PM assigned the Ministry of Finance to be responsible for dealing with the group’s debts and devising schemes to ensure capital sources for production. 

He requested Vinashin to assess the operational capacity of the holding company, subsidiary companies, joint ventures and investment projects and its finance, asset deficiency and debts. 

He also asked the group to focus its resources on implementing its production plan and existing shipbuilding contracts, devise a scheme on loan repayment to credit organisations and review the group’s investment projects in the mentioned-above fields and sell or equitise the remaining fields within the law.

Source: VOV

Source: QDND

SBV adjusts VND/USD exchange rate

In Uncategorized on August 18, 2010 at 3:23 pm

SBV adjusts VND/USD exchange rate

QĐND – Wednesday, August 18, 2010, 21:12 (GMT+7)

The State Bank of Vietnam (SBV) has adjusted the VND/USD exchange rate from 18,544 to 18,932, a rise of almost 2 percent.

The exchange rate remains in a range of around 3 percent, currently at between VND18,364 and 19,500 for a dollar.

According to the SBV, the adjustment will help to curb the import surplus. Before the SBV adjusted the rate, the foreign currency market had fluctuated sometimes at a rate of up to VND19,350 for a dollar.

The Deputy Director of the Asia Commercial Bank, Nguyen Thanh Toai, said that the exchange is governed by supply and demand in the domestic market. When the demand increases, the exchange rate will also rise.

Source: VOV

Source: QDND

Rubber-growing project in the northwest needs a boost

In Uncategorized on August 18, 2010 at 3:23 pm

Rubber-growing project in the northwest needs a boost

QĐND – Wednesday, August 18, 2010, 21:13 (GMT+7)

Rubber plantation which started in the northwestern provinces in 2007 has helped to change the region’s economic structure.

Over the past three years, rubber plantations in Dien Bien, Son La, and Lai Chau have continued to thrive, creating more jobs for local people.

As the project is still in its early stage, the local authorities and the Vietnam Rubber Association (VRA) need to have a long-term cooperation.

New model to reduce poverty

To promote the rubber development plan in the northwestern region, central and local governments and the VRA have introduced a variety of policies to encourage farmers to use their land to plant rubber trees. In return, farmers are being employed by rubber companies and receive a stock dividend corresponding to their area of land and levels of production.

In addition, each province also has their own policies to help farmers and rubber companies.

The total rubber plantation areas in the northwestern region have been expanded to 15,000 ha and most of the rubber trees are growing very well, according to VRA member businesses.

There has been a very close cooperation between local party executives with the authorities, between central and local governments, and between localities and businesses.

The new working model for businesses and farmers proves to be both creative and effective with clear regulations about each party’s duties and responsibilities.

The plan has also created more jobs, helping farmers increase their incomes. In provinces like Lai Chau, Dien Bien, and Son La, along with relocation and resettlement for the Son La Hydroelectric Power project and other programmes, the rubber-developing plan has helped to reduce poverty and provide stable employment.

More support is needed

However, there still remain some shortcomings in the implementation of the project. The sudden change in the form of investment has put many Lai Chau businesses in difficult position to go through complicated administrative procedures and solve other problems arising from land acquisition and compensation too slowly. Furthermore, the incomes of rubber workers in Dien Bien and Son La provinces are very low so they do not want to get involved in the project.

In Son La, the unemployment rate is rising, resulting in a poorer standard of living. Lo Van Khat, a resident of Bo Muoi commune, says that his family has ten members but only one of them has a job. Farmers can hardly earn enough from growing rubber trees for their living as it normally takes seven years before they reap a profit, he added.

For this reason, many farmers in Dien Bien cut down their rubber trees. Lau A So, from Thanh Nua commune, Dien Bien district, said: “Local farmers support rubber growing, but we need more financial support and commitment from the State.”

On June 3, 2009, the Government issued Decision No.750 on drawing up a rubber development plan until 2015 with a vision to 2020. Under the plan, the area under rubber trees will be expanded to about 50,000 hectares in the north-western region by 2020. The key task for the region is to plant rubber trees while ensuring food security and reducing the poverty rate in a sustainable manner.

A conference was held in Dien Bien province on August 18 to review the results of the ongoing rubber growing project in the north-western region.

The conference, chaired by Deputy Prime Minister Truong Vinh Trong, was attended by representatives from several ministries, central agencies and local authorities in the region.

The participants in the event evaluated rubber growing projects in Son La, Lao Chau, Dien Bien, Yen Bai, Thanh Hoa, Nghe An, Ha Giang and Phu Tho provinces. They pointed out the shortcomings in many of these projects over the past three years and discussed more effective measures to boost the shift of economic restructuring and sustainable poverty reduction in the north-western region.

Source: VOV

Source: QDND

How to manage FDI inflows effectively

In Uncategorized on August 18, 2010 at 3:22 pm

How to manage FDI inflows effectively

QĐND – Wednesday, August 18, 2010, 21:15 (GMT+7)

Over the past 22 years, nearly US$60 billion of foreign direct investment (FDI) has been disbursed. In 2009, FDI-funded businesses accounted for 18.33 percent of the country’s GDP, contributing US$2.5 billion to the State budget and providing jobs for 2 million workers.

However, management agencies still find it difficult to control the inflows of FDI effectively. Many experts have warned snags in attracting and implementing FDI-funded projects due to Vietnam’s failure to monitor and inspect the operational efficiency of those projects.

The story about Vedan Vietnam Enterprise Corp compensation for farmers suffering from pollution caused by Vedan in Dong Nai is a case in point, said Nguyen Van Bat, a consulting expert and General Director of Invest Consult Company in a recent interview granted to a Radio Voice of Vietnam (VOV) reporter.

Reporter: Vietnam has made headway towards attracting FDI. However, there is growing concern about the ineffective management and use of FDI. What is your opinion?

Mr Bat: In my subjective opinion, there are some problems in attracting FDI in Vietnam. The rise and fall of FDI depends on the development of the global economy. Therefore, we need to be continuously updated with this.

In some cases, we still lack experience in properly assessing investors or partners who play a key role in carrying out projects, particularly major project worth billions of US dollars. Therefore, we should have a critical evaluation of different aspects of FDI-funded projects.

Reporter:  All FDI-funded projects are examined by State agencies before they are licensed to operate in Vietnam. But why are there problems with the appraisal of those projects?

Mr Bat: Project appraisal is a difficult process that should be carried out in a scientific way. Previously, the granting of investment licenses to major projects belonged to the Ministry of Planning and Investment. Now that, this task has been assigned to local authorities, we are unable to help them appraise large-scale projects.

Reporter: Many provinces tend to offer incentives to investors, especially after being allowed by the government to grant investment licences. Do you think decentralisation works? And how to deal with the existing problems?

Mr Bat: I think that the Government and the Ministry of Planning and Investment (MoPI) should set up a centre to appraise investment projects in each region, instead of each province. The centre will be responsible for assessing levels of capital, partners, technologies, socio-economic consequences, and even security and defence.

I think that the Government and the MoIP should research and rationalise the appraisal process for major projects. They must also help improve appraisal skills.

Reporter: Does FDI attraction have any hidden “traps”?

Mr Bat: I think it has. We have to be wary of high-tech fraud or traders who sell fake products. These are big problems.

Generally speaking, the world is friendly and safe. However, we are not quite clear about what should be done to fulfill our integration commitments in a flexibly and proper manner. For example, we did not have a far-sighted policy when accepting VEDAN’s requirements too easily in the 80s and we are now suffering from its consequences. This shows that we were not good at foreseeing marcoeconomic issues, including those related to the environment.

Reporter: FDI is sometimes limited. For instance, some projects are carried out very slowly, even given concessions. Some foreign investors registered to invest in Vietnam and then sought to attract domestic capital. Is it high time we chose the projects carefully?

Mr Bat: We need to balance the macroeconomy and come up with proper plans to foreign investment. It is the Government’s duty, especially the Prime Minister’s, not the provinces’. Provincial leaders will assist the Prime Minister to deal with macroeconomic issues. As a researcher, I propose that the Prime Minister balance the additional source of FDI funding and allocate it properly to different localities to help them achieve a suitable growth rate.

Reporter: The Government is planning to restructure the economy. So does FDI need restructuring?

Mr Bat: FDI merely adds impetus to the national economy to develop. How much of funding is enough or when and where it is needed – all depends on the Government’s plans.

I think we simply consider foreign investment as normal funding, not a magic bullet. It is the inevitable result of developing commerce, no more than it deserves to be.

Reporter: Thank you very much.

Source: VOV

Source: QDND

Computers for Farmers

In Uncategorized on August 18, 2010 at 3:22 pm

Computers for Farmers

QĐND – Wednesday, August 18, 2010, 21:14 (GMT+7)

The Vietnam Food Association has donated VND 30 billion to equip computer systems for farmers in Melkong River Delta to help them access the latest information on prices of agricultural products and fertilizer in both domestic and international markets.

So far they have turned out a large quantity of rice for domestic and foreign markets but have always run short of such essential information.

The program will be carried out in three phases from now to 2012. In the first phase, a pilot commune in every district will be equipped with a computer system managed by the local farmers’ association.

In the second phase, computers will be equipped in 1,388 communes in 2011 and finally all communes in the provinces will be provided with computers by the end of the project.


Source: NLD

Translated by Duy Minh

Source: QDND

Three strategic breakthroughs for socio-economic development

In Uncategorized on August 18, 2010 at 3:22 pm

Three strategic breakthroughs for socio-economic development

QĐND – Wednesday, August 18, 2010, 21:15 (GMT+7)

The strategy aims to step up industrialization, modernization, rapid and sustainable development, promote the whole nation’s strength and develop Vietnam into a socialist-orientated industrialized country.

A seminar on Vietnam: Looking towards the new decade and following period was held in Hanoi on August 18 by the Vietnam Institute of Social Sciences and the World Bank.

Participants focused their discussions on the world’s development trend and Vietnam’s development policies in the context of global endeavours for rapid and sustainable development target.

They discussed what Vietnam‘s prospect for the next decade and later future, as well as industrial policies to help developing countries catch up with the more developed countries.

Speaking at the seminar, Prime Minister Nguyen Tan Dung outlined Vietnam’s socio-economic development strategy for the 2011-2010: to step up industrialization, modernization, rapid and sustainable development, promote the whole nation’s strength and develop Vietnam into a socialistorientated industrialised country. Vietnam will become an industrialised country by 2020, Mr Dung said.

Mr Dung referred to five major points of the strategy: developing rapidly and sustainably; renovating comprehensively in line with economics and politics; practicing democracy and promoting human factors; strongly developing labour force with technology; and building an independent economy for the in-depth international integration process.

He affirmed the strategy will include three breakthroughs: completing socialist-oriented market economy institution, rapidly developing human resources and building infrastructure comprehensively. The strategy will also propose 12 other major tasks including:

Completing the market economy with socialist orientation and ensuring the stability of the macro economy by mobilising and effectively using available resources.

Developing modern industry with high competitive edge.

Comprehensively developing a modern, efficient and sustainable agriculture system.

Developing the services sector, especially those generating high value, potential and competitiveness.

Rapidly upgrading the infrastructure, especially for transportation.

Harmonically and sustainably develop regions and build new urban and rural areas.

Effectively developing the healthcare system to care for people’s health.

Improving the quality of human resources and totally renovating education and training.

Developing science and technology to make it the core of the rapid and sustainable growth.

Improving the quality of the environment and actively dealing with climate change.

Defending the sovereignty and unity of territory, ensure political and social security.

Expand external affairs and actively integrating and raising the position of Vietnam in the international arena.

To successfully complete these tasks, the PM stressed the importance of improving the effectiveness of State administration with a focus on implementing its functions, solving the complex relationship between State and market, improve the State’s apparatus and making a remarkable change in administrative reform, fighting against waste and corruption, strengthening the leadership of the Party and encouraging the strong role of the people in building the State’s apparatus.

He confirmed that along with the domestic efforts, Vietnam will pay close attention to international cooperation to share experiences, improve available resources and provide preferable conditions for the country’s development.

“It is of great necessity to work out a development strategy for the new period and mobilise all the resources to implement that strategy,” he said.

Mr Dung praised the Vietnamese Academy of Social Sciences and the World Bank for organising the summit, which drew the participation of many domestic and foreign scientists, administrators and specialists, as well as organisations to discuss practical issues and contribute to the complement and improvement of the Draft on Vietnam’s Socio-Economic Development Strategy (2011-2020).

Source: VOV

Source: QDND

President Triet commends southern provinces

In Uncategorized on August 18, 2010 at 3:21 pm

President Triet commends southern provinces

QĐND – Wednesday, August 18, 2010, 21:12 (GMT+7)

President Nguyen Minh Triet, who is also Party Politburo member, has commended the Party’s Committees and people of six southern provinces on their important achievements in socio-cultural development, education, health care, security-defence, Party building work and other fields.

President Triet made the appraisals during working sessions between the Politburo and Secretariat of the Party Central Committee and the provinces of Binh Duong, Ba Ria-Vung Tau, Tay Ninh, Binh Thuan, Dong Nai and Binh Phuoc in Hanoi on August 14, 16 and 17. 

The people’s lives continue to improve together with a drop in the number of poor households, he said, adding that their GDP growth has surpassed the set targets, with a higher proportion of industries and services and a greater focus on staples of high economic value. 

All investment sources have been mobilized to develop sea tourism, services, industries and the border economy to full advantage, he said. 

President Triet highlighted the six provinces’ efforts to draft documents and personnel schemes prepared for the provincial Party Congresses in the 2010-2015 term. 

Despite certain difficulties, the rates of female, young and ethnic cadres in the congresses have been ensured, he said. 

The President also asked the Party’s Committees to increase their leadership capability, bring into play Party members’ exemplary roles and expand the movement “Study and follow President Ho Chi Minh’s moral example” with the aim of consolidating the people’s confidence in the Party leadership. 

Source: VNA

Source: QDND

Le Anh Xuan, a star of revolutionary literature

In Uncategorized on August 18, 2010 at 11:23 am

A seminar on the life and career of martyr and poet Le Anh Xuan was held by the Ho Chi Minh City Writers’ Association on August 17.

Poet Le Anh Xuan (L) and writer Anh Duc.

The meeting attracted many writers, poets, critics and poet lovers.

Le Anh Xuan, whose real name is Ca Le Hien, was born in a traditional cultural family with a revolutionary orientation in 1940. His father is Professor Ca Van Thinh.

He devoted all his short life for poetry and revolutionary. After graduating from the faculty of history, he was invited to teach at the university and selected to study abroad. However he chose the hardest way. He came back to the South and took part in the resistance war.

Critic Hoai Thanh said that Ca Le Hien is one of the excellent poets in the country.

Although he spent only 10 years in writing poetry, he left immortal works about the land and people to readers.

The martyr died in an attack by the American troops in 1968. He was granted the title of “Hero of the People’s Armed Forces”.

Source: SGGP