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Tax cut by up to 6 percent on 1,000 imports

In Uncategorized on January 8, 2011 at 4:10 am

Tax cut by up to 6 percent on 1,000 imports

QĐND – Thursday, January 06, 2011, 21:17 (GMT+7)

Nearly 1,000 goods items would enjoy an import tax cut of 1-6 percent in 2011, according to the Ministry of Finance’s Taxation Policy Department.

Director of the department Vu Van Truong said the items would mainly include agricultural produce, seafood, construction materials and electrical appliances.

The average drop for most items would be 2-3 percent, said Truong.

The cut, part of Vietnam’s commitment to the World Trade Organisation, was expected to benefit domestic consumers, giving them a wider choice of reasonably priced imported goods, Truong said.

However, he warned that the cut would also place pressure on Vietnamese goods that would face fierce competition from imported products.

Trade experts were also concerned about a predicted surge in the country’s trade deficit next year in the wake of the import tax cut.

The country imported 84 billion USD worth of goods last year, up 20 percent over the previous year with a trade deficit of 12.3 billion USD.

This year, the country plans on restricting the trade deficit to 14.18 billion USD with an import value of roughly 92 billion USD.

Last year, roughly 2,000 goods including food, animal feed, construction materials and steel also enjoyed an import tax cut of 1-6 percent, which cost the State budget roughly 1 trillion VND (51.28 million USD).

Source: VNA

Source: QDND

My Thuan-Can Tho highway needs over VND 6 trillion

In Uncategorized on November 6, 2010 at 1:49 am

BMI raises VN’s GDP growth forecast to 6 percent

In Uncategorized on August 12, 2010 at 7:23 pm

BMI raises VN’s GDP growth forecast to 6 percent

QĐND – Thursday, August 12, 2010, 20:32 (GMT+7)

With evidence of a consumer boom emerging, the Business Monitor International (BMI) boosted its GDP growth forecast for Vietnam this year to 6.0 percent, up from 4.4 percent earlier.

The BMI is predicting that the growth will come out at a vigorous annual average of 6.2 percent over the next five years.

In the “Vietnam Shipping Report Quarter 4 2010”, the BMI is projecting an increase in volume at the Port of Ho Chi Minh City (also known as SNP, SaigonNewPort), up by 6.2 percent, after the 5.2 percent contraction during the slump last year. At Da Nang Port (DNP) it sees this year’s volume gaining by 2.3 percent. Container throughput will also be in positive territory at both ports, up by 3.5 percent at SNP and by 6.2 percent at DNP (where container volumes are much smaller).

According to the BMI, Vietnam’s total imports and exports would see a recovery this year with 5.4 percent growth, followed by a slightly stronger pick-up in 2011, with 6.2 percent growth. Over the next five years, total foreign trade will expand at an annual average rate of 6.5 percent, the BMI calculated, adding that over this period, exports will grow at an average per annum rate of 7.3 percent, ahead of imports at 5.9 percent.

The BMI’s latest report on Vietnam wrote that though the possibility of the trade deficit and inflation both rising too sharply in the time to come, strong inflows of foreign direct investment would help as a counterweight on the foreign payments front, and also play a role in improving the country’s stretched infrastructure.

The BMI was in the opinion that in the second half of 2010 there are further signs of catch-up investment in Vietnam’s ports after a contract signed in June between the Gemalink Joint Stock Company and the Republic of Korea alliance Dealim-SAMWHA to develop the Gemalink Cai Mep Container Terminal and announcement in October 2009 by Japan’s largest shipping company, Mitsui OSK Line (MOL) of its plan to set up a terminal operation company to build and manage a new container terminal at Cai Mep.

Source: VNA

Photo: vinashinsoutheast

Source: QDND

Cap device contains 6,000 barrels from Gulf oil spill

In Uncategorized on June 6, 2010 at 10:18 am

GRAND ISLE, Louisiana (AFP) – Engineers searched for ways Sunday to capture more oil flowing from a ruptured well in the Gulf of Mexico after authorities reported that energy giant BP had succeeded in capturing 6,000 barrels of oil in 24 hours.

(AFP/BP) This still image from a live BP video feed shows oil gushing from a leaking BP oil well-pipe in the Gulf.

The figure is dwarfed by estimates that up to 19,000 barrels a day could be spewing from the leaking well, but was a rare note of success for the embattled British firm.

“In the first full 24-hour cycle, yesterday as they bring the production level up, they were able to bring up and produce 6,000 barrels of oil from the well,” said retired Coast Guard Admiral Thad Allen at a press briefing Saturday.

“The goal is to continue that production, and raise it up,” he added.

The latest containment effort involves a cap placed over the leak that gathers the oil, allowing it to be siphoned up via a pipe to a container ship.

It is a modified version of an effort tried earlier in BP’s six-week effort to stem the crude gushing from a ruptured underwater pipe after the Deepwater Horizon rig it leased exploded before sinking into the sea on April 22.

The earlier attempt failed because cold temperatures and high pressure at the leak site, some 5,000 meters down, caused the oil to form a sludge that could not be siphoned.

The cap has been redesigned with valves that can be slowly shut down to help prevent the buildup of gas hydrates — similar to ice crystals — that doomed the first attempt.

“What they’re slowly doing is increasing production to the well bore and up to the ship,” Allen said.

“They want to raise that up to the maximum extent possible on a daily rate basis, and then slowly start turning off those vents where the oil is coming out of right now when they’re sure they don’t have sea water coming in.”

BP has said it will provide daily updates on how much oil is being captured by the containment device.

During the night, all was not smooth sailing with the oil collection. “The flow of oil and gas to the Enterprise was shut down for three hours overnight,” said Coast Guard spokesman First Class Petty Officer Zach Zubricki.

News of any successful effort to contain the disastrous spill will be welcomed by the four states so far affected by what is now the worst environmental disaster in US history.

On Saturday, US President Barack Obama pledged in his weekly radio address to use “every resource” to help those affected.

“We will continue to leverage every resource at our disposal to protect coastlines, to clean up the oil, to hold BP and other companies accountable for damages,” he said.

An estimated 20 million gallons of crude has poured into the Gulf since the Deepwater Horizon sank April 22, 50 miles (80 kilometers) off Louisiana.

Eleven workers were killed in the blast, and Obama will meet their families in a White House ceremony next week.

Citing new government and BP documents and testimony by witnesses, The New York Times reported Sunday that a hodgepodge of oversight agencies granted rig operators exceptions to rules, allowed risks to accumulate and made the disaster more likely.

The president said the spill had “upended whole communities,” and local residents were angry not just about lost income, but because of “the wrenching recognition that this time their lives may never be the same.”

The scale of the disaster forced Obama to postpone a trip to Australia and Indonesia for the second time, as images of seabirds writhing in oil along the Louisiana coast blanketed US television networks and the front pages of newspapers, underscoring the rising environmental toll.

Spreading in oily ribbons, the slick is now threatening Alabama, Mississippi and Florida after contaminating more than 125 miles (200 kilometers) of Louisiana coastline.

Amid criticism over his handling of the crisis, BP chief executive Tony Hayward has announced the formation of a team to work with locals and officials in the aftermath of the cleanup.

The team will be led by one of the oil giant’s managing directors, Bob Dudley, a US citizen, and was seen as a sign that the cleanup and looming legal battles will likely last for years.

BP said Saturday it has paid out 46 million dollars in more than 17,000 claims checks since the disaster began and expected to pay the same amount in June,

“It’ll be 84 million plus… at least what it was in May if not more,” BP’s lead claims coordinator Darryl Willis told reporters in a conference call from Orange Beach, Alabama.

BP has not set aside any budget for compensations, “we’ll do this until it’s finished… We’ll stay with it until people are able to return to their normal way of life on the Gulf Coast,” Willis added.

Source: SGGP

HCMC not to lack power if consumption saved by 6 percent

In Uncategorized on April 22, 2010 at 4:12 pm

HCMC not to lack power if consumption saved by 6 percent

QĐND – Thursday, April 22, 2010, 21:43 (GMT+7)

The Ho Chi Minh City Power Corporation has taken essential measures to ease power shortage in this dry season, the Corp’s head said, adding that the city will not suffer such a shortage if administrative agencies and households can reduce their power use by six percent.

In a recent interview with SGGP, Le Van Phuoc, general director of the HCMC Power Corporation, said the firm has set up teams to streamline the power supply source to maintain a stable supply to customers, especially producers of goods for export.

The corporation has stepped up the repair, maintenance and upgrade of the power grid to improve its supply capacity and arranged those works in better ways to minimize their impacts on power users, Mr. Phuoc said.

The firm has also called on large companies to use their own diesel-run generators in case of power supply shortage.  

However, he emphasized that an efficient, economical use of power is one of the key measures to ease power shortage.

With a total power consumption of 44.6 million kWh per day, the city now faces a daily shortage of about 1.1 million kWh. Meanwhile, the administrative sector and households account for about 40 percent, or 17.84 million kWh, of the total consumption. Therefore, if they can reduce their use by 6 percent, or 1.07 million kWh, the city will see no lack of electricity, he said.

Asked about recent power cuts, he explained they were made because of regular maintenance services or incidents, including cases in which power was automatically cut off as a result of an overload of the grid. “Such power cuts often lasted a short time,” he added.

“We never randomly cut power supply to customers, and in case a cut is needed, it cannot be made without a prior notice,” he asserted.

Cutting power must comply with the Electricity Law and must be informed in advance to customers via broadcast stations and newspapers, he said.

The corporation has yet to consider a power-cutting plan, since the National Power System Moderation Center has streamlined the power allocation on a daily basis to each power corporation to make the use of electricity more proper, balanced and efficient, he confirmed.

Source: SGGP

Source: QDND

Economy to post first-quarter growth of nearly 6 pct

In Uncategorized on March 24, 2010 at 4:45 am

It is estimated that Vietnam’s economy will grow by 5.7-5.9 percent in the first quarter of this year—or nearly double the rate for the same quarter last year–according to the General Statistics Office (GSO).

The GSO based the projection on the national economy’s performance in the first two months, taking into account possible ups and downs it may face in the future.

According to the office, retail sales and service revenues will surge 24 percent over the first quarter of 2009.

Also, industrial production value is projected to grow by 13.5-13.8 percent, and agriculture, forestry and fisheries production value by 5.6-5.8 percent.

The GSO has estimated an import value of US$16.8 billion with the majority of imports being input materials due to the strong recovery of domestic production and exports of US$14.2 billion in the reviewed period.

As the first quarter has nearly a month to go, the GSO proposed that sectors and branches take prompt measures and appropriate and flexible financial and monetary policies to manage the market and prices of essential commodities which already spiked after the traditional Lunar New Year festival.

Source: SGGP Bookmark & Share

6 victims still missing after boat capsizes in north

In Uncategorized on March 24, 2010 at 4:38 am

Six victims, missing since March 3 when their fishing boat sunk off the coast of north-central Quang Binh Province, have yet to be found, an official from Duc Trach Ward said March 16.

The boat, belonging to local fisherman Nguyen Minh Trung, set out early on March 3.
Six days later, the local marine management center reported it had lost all contact with the boat, which was carrying six local fishermen in addition to Mr. Trung.
A search for the crew was then initiated and on March 15, local residents found the body of Ho Van Long, one of the victims.
Authorities say no other information about the boat or the fate of those onboard has yet turned up.

Source: SGGP Bookmark & Share

Israel kills 6 Palestinians in surge of violence

In World on December 27, 2009 at 12:23 pm

Israeli troops blasted their way into the homes of three wanted Palestinians on Saturday, killing each in a hail of bullets and straining an uneasy security arrangement with Palestinian President Mahmoud Abbas.

Israel’s military said the three, affiliated with a violent offshoot of Abbas’ Fatah movement, were targeted for killing an Israeli settler in a roadside ambush earlier in the week and had turned down a chance to surrender.

In the Gaza Strip, three young men approaching Israel’s southern border were killed by shots from an Israeli helicopter gunship. Saturday’s deaths made it one of the deadliest days in the Israeli-Palestinian conflict since Israel waged war on Gaza’s Islamic militant Hamas rulers a year ago.

The violent Nablus raids, after months of relative quiet, embarrassed Western-backed Abbas, whose security forces have been coordinating some of their moves with their Israeli counterparts and share a common foe, Hamas.

Israeli soldiers are seen during an army operation in the West Bank city of Nablus, Saturday, Dec. 26, 2009.

At the funeral for the slain men, Abbas’ security policy was denounced by thousands of mourners, who chanted: “Why the coordination while we are under the bullets of the army?”

Abbas’ prime minister, Salam Fayyad, rushed to Nablus in an apparent attempt at damage control, paying his respects at a large communal wake and condeming Israel. “This attack was a clear assassination, and I believe it is targeting our security and stability,” Fayyad told The Associated Press.

Israel did not let Abbas know of the raid in advance, said Maj. Peter Lerner, an Israeli army spokesman.

Saturday’s killings put to the test an often strained relationship between Israel’s military and Abbas’ security.

Since the violent takeover of Gaza by Hamas in 2007, Abbas has gradually strengthened his control in West Bank towns to keep the Islamists there in check.

Palestinian leaders frequently complain that Israel is undermining these efforts by carrying out arrest raids in areas under Palestinian control. Israel counters that while the performance of the Palestinian security forces is improving, its military will step in when necessary.

The target of Saturday’s predawn raids were three longtime members of Fatah’s violent offshoot, the Al Aqsa Martyrs’ Brigades. The army said the three — Anan Subeh, 36; Ghassan Abu Sharah, 40; and Raed Suragji, 40 — were involved in Thursday’s deadly roadside shooting of an Israeli settler, and that Israeli forces entered Nablus to try to arrest them.

Dozens of Israeli soldiers, some of wearing black masks, poured into Nablus’ casbah, or old city, at about 2 a.m. They were backed by sniffer dogs and dozens of jeeps, bulldozers and other military vehicles

The forces surrounded the homes of the three. Lerner, the army major, said all three turned down a chance to surrender. However, relatives of Abu Sharah and Suragji said they were killed without warning. Lerner confirmed that none of the wanted men returned fire, including Subeh, who had two pistols and two assault rifles on him.

Soldiers used explosives to blow open the door of the Abu Sharah’s three-story apartment building, said Ghassan Abu Sharah’s brother, Jihad. The brother said that when Ghassan came downstairs, one of the soldiers opened fire and killed him.

Troops also used explosives at the home of Raed Suragji, said his wife, Tehani.

She said her husband opened the bedroom door. “Suddenly, shots were fired at us,” she said. “He fell down. I started shouting. I held his head in my lap and sat on the ground.”

In the third raid, troops ordered everyone to come out of the Subeh home, said Subeh’s brother, Jamal. The family evacuated, but Anan Subeh stayed behind.

Lerner said Subeh was hiding in a small crawl space in his home when he was killed. He said soldiers heard him shout “Allahu Akbar,” Arabic for God is great.

Asked why soldiers opened fire, Lerner said troops “had to operate under the assumption that they (the suspects) are dangerous.”

Subeh had recently been accepted in Israel’s amnesty program for Fatah gunmen, according to Nablus’ deputy governor, Anan Attireh. Subeh’s family said he had also joined the Preventive Security Service, a branch of the Palestinian security forces.

Suragji was released from an Israeli prison in January, after a seven-year term for involvement in shooting attacks. Abu Sharah was also held by Israel in the past, the military said.

The Al Aqsa Martyrs’ Brigades carried out scores of shooting attacks and suicide bombings during the second Palestinian uprising, which erupted in 2000. Since then, the militia has been largely dismantled.

In Israel, right-wing critics of Prime Minister Benjamin Netanyahu said his policy of easing travel restrictions in the West Bank was to blame for the shooting attack. Lerner said Israel did not plan to set up new roadblocks.

Also Saturday, an Israeli helicopter gunship killed three Gazans, ages 19 and 20, as they approached the border barrier with Israel. The army said the three were hit after they ignored warning shots.

Relatives of the three had tried to sneak into Israel for work and were not affiliated with political groups.

Israel does not allow Palestinians to approach its border area with Gaza, fearing militants will stage attacks there.


Source: SGGP Bookmark & Share

6,000 unsafe milk products still for sale: VFA

In Vietnam Health on November 30, 2009 at 4:12 am

An advertisement for Dutch Lady Vivinal GOS milk

FrieslandCampina Vietnam has recalled around 96 percent of its Dutch Lady Vivinal GOS milk which reportedly caused allergic reactions in some children who consumed the product, said the Vietnam Food Administration (VFA). However, some 6,000 products remain in the market.

The VFA recently ordered the company to withdraw the remaining products and publicize warnings about the milk in the media.

Vivinal GOS is advertised as containing GOS (Galacto Oligosacharide), a natural fiber in dairy that helps enhance absorption of nutrients and stimulate healthy growth.

Some 21 toddlers in Ho Chi Minh City and Hanoi were hospitalized in recent weeks with rashes, breathing problems, and stomach upset, allegedly after drinking Dutch Lady Vivinal GOS milk.

Related articles:
Dutch Lady Vivinal GOS milk recalled over allergy scare
HCMC health officials investigate Dutch Lady’s dodgy milk

Source: SGGP Bookmark & Share

Vietnam swine-flu death toll rises to 6

In Vietnam Health on September 14, 2009 at 12:14 pm

The Ministry of Health confirmed Sept. 13 the sixth A/H1N1 flu death in the country, that of a 19-year-old girl in Cho Lach District in the southern province of Ben Tre. 

Students with swine flu being examined at HCMC’s Pham Ngoc Thach Hospital. Vietnam announced its sixth death from the disease on September 13.

The girl fell ill on September 3 with symptoms like tiredness and breathing difficulty. She bought some medicines herself and took them but made no recovery. 
Her family admitted her to the Cu Lao Minh General Hospital on September 5.
Two days later she developed a fever and doctors treated her with Tamiflu.
On September 11 tests done by Ho Chi Minh’ s Pasteur Institute showed her to have swine flu.
She died on September 12.
Her death followed three others in HCMC and one each in the southern provinces of Dong Nai and Khanh Hoa.

On September 13 alone 220 more A/H1N1 cases were reported, 150 in the south, 35 in the north, 24 in the central region, and 11 in the Central Highlands.

The total number of A/H1N1 cases in Vietnam has gone up to 4,464, of which 3,350 people have been discharged from hospitals.

Meanwhile, the World Health Organization in Vietnam announced that a total of 3,200 people have died of the disease worldwide.

Source: SGGP