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Posts Tagged ‘sector’

Bank sector joins in to stabilize prices

In Uncategorized on December 16, 2010 at 10:04 am

The State Bank of Vietnam’s Governor Nguyen Van Giau, on Wednesday ordered that all the bank’s branches follow Prime Minister Nguyen Tan Dung’s instructions. That is to stabilize prices during the upcoming Tet holidays.

(Photo: VnExpress)

The governor asked them to ensure safe ratios in their operation, as sanction in two circulars issued in May and September this year.

Branches of the State Bank should effectively carry out currency and credit measures, that the bank instructed in November, to stabilize prices and the macro economy.

They should monitor interest rates and lending activities and make certain they are legal and in accordance with policies of the government, and the Vietnam Banking Association.

Additionally, the credit organizations’ loans should have priority for agricultural production, rural development, natural disaster recovery, exports and commodity stockpiling during the Tet holidays.

Moreover, they should sell foreign currencies to businesses, for the import of necessary goods, and implement other measures to stabilize the foreign exchange markets. They have also been asked to monitor and forecast changes in the international gold price and domestic supply to rationally import the metal.

The State Bank’s branches should monitor credit organizations to ensue their mobilization and the lending of gold, matches the criteria set out in the governor’s circular in October. Any violation from the guidelines will be monitored.

Source: SGGP

More incentives needed for private sector

In Uncategorized on October 27, 2010 at 2:40 pm

More incentives needed for private sector

QĐND – Wednesday, October 27, 2010, 20:39 (GMT+7)

The private business sector needs a greater effort and more favourable policies to see a stronger growth, both in quantity and quality.

Since the Business Law was introduced, the private sector has seen a significant growth in quantity. The number of private businesses has increased by 15 times from 31,000 in 2000 to the present figure of more than 400,000. The average chartered capital also rose from VND1.29 billion in 2001 to VND11.2 billion in 2009, 1.44 percent of businesses have a registered capital of more than VND200 billion and 0.6 percent have more than VND50 billion.

According to the 2008 index, while a state-run business needs VND436.5 million to create a new job, a private company needs only VND250 million. This shows how effective the private sector can be.

Le Duy Binh from Economica Company said there should be better policies for the sector to develop support industries for not only foreign but also Vietnamese state-run companies.

Economic expert Pham Chi Lan said that limited premises for business and production and a lack of capital are behind the sector’s low profits.

Private businesses find it hard to access bank loans because they do not have the premises to mortgage, she said, adding that their weaknesses in management and outdated technologies also prevent private businesses from developing.

It is estimated that only 2 percent of private businesses in Vietnam have access to modern technologies, much lower than Thai businesses (30 percent), Malaysia (51 percent), and Singapore (73 percent).

Phan Vinh Quang, Deputy Director of Star Vietnam, said that although the private sector has taken advantage of Vietnam’s cheap workforce, they can not develop as expected.

Poor business management and lack of and confidence also stand in their way of progress, said Vinh.

Nguyen Dinh Cung, Vice President of the Central Institute for Economic  Management, said the businesses environment has improved in recent time but the key to success depends on business themselves.

Source: VOV

Source: QDND

Intel helps Vietnam to develop IT sector

In Uncategorized on October 22, 2010 at 3:56 pm

Intel helps Vietnam to develop IT sector

QĐND – Friday, October 22, 2010, 22:35 (GMT+7)

Intel will help Vietnam to develop its information technology industry and train up the country’s human resources to increase internet use and people’s computer literacy.

A memorandum of understanding on the “Computers for Life” programme was signed by Deputy Minister of Information and Communications Nguyen Minh Hong and Intel Vietnam’s Director of Enterprise Solutions and the World Ahead Programme Chak Wong, in Hanoi on October 21.   

Under the deal, both will jointly implement programmes on policy consultation, strategies, assist development in the IT sector and domestic businesses manufacturing high-quality low-priced computers and providing useful digital services to people in Vietnam’s remote and mountainous areas.    

On addressing the signing ceremony, Chak Wong highlighted the Vietnamese Government’s attention to developing the IT sector to make Vietnam strong in IT and communications.

Promoting   Vietnam’s IT sector is of particular interest to Intel, said Chak Wong, noting that the MoU confirmed Intel’s pledge to expand its assistance to the Vietnamese market.

Deputy Minister Hong emphasised the significance of the MoU in promoting the nation’s IT industry. He said that he hoped Intel will actively help   Vietnam   in training hi-tech human resources in the future.    

Within the framework of the World IT Forum in   Vietnam   in 2009, the Ministry of Information and Communications launched the “Computers for Life” programme to donate computers to rural, remote and mountainous areas. Over the past year, more than 2,000 computers with Internet access and 300 printers, together with other equipment were presented to schools, disabled peoples centres and local people. 

The Ministry, along with Intel, will expand the programme to raise people’s knowledge through training activities to gradually bridge the digital gap.

Source: VNA

Source: QDND

Tourism sector needs to improve workforce quality: deputy PM

In Uncategorized on August 18, 2010 at 11:21 am

It is necessary to raise the quality of the tourism workforce to maintain the sector’s growth rate and ensure the sustainable development of the country’s tourism, said Deputy Prime Minister Nguyen Thien Nhan.

Deputy Prime Minister Nguyen Thien Nhan (L) at the tourism exhibition in Hanoi on August 17. (Photo:

With a long coastline and many beautiful beaches, Vietnam has rich potential to develop tourism, but the lack of professionalism of the industry as well as poor workforce have restrained the sector’s development, said Deputy PM Nhan at the second National Conference on Tourism Human Resource Training on August 17 in Hanoi.

According a report from the Ministry of Culture, Sports and Tourism, 30 % of the industry workforce has not yet graduated from senior high school. Only 43% of the people in the sector were trained professionally while 57% were trained in non-tourism fields.

The number of staff in the sector knowing at least one foreign language is greater than other sectors, at 48%, but the ratio is not high since it is an everyday thing to use foreign languages to serve international travellers.

Most Vietnamese tour guides mainly know English but for other languages, there is a minority of people having a good command of them.
Mai Tien Dung, deputy director of the Hanoi Department of Culture, Sports and Tourism said 45 percent of tour guides fail to meet the requirements of tour operations and standard in English.

The same situation also occurred in Ho Chi Minh City, which attracts 65 percent of total international tourism and holds 24 percent of the industry workforce nationwide.

Despite improvements in quality and quantity, the tourism industry workforce has not met the requirements of the market economy, especially in terms of professionalism and command of foreign languages, said Dung.

According to Can Tho Province’s Department of Culture, Sports and Tourism, of 17,000 laborers working in the industry, nearly 900 laborers have bachelor and master’s degrees.

Deputy PM Nhan said that to improve workforce quality, it is necessary to enhance training quality as well as strengthen cooperation between tourist agencies and schools. Schools provide basic knowledge, so tour guides have to improve themselves through practices in tourist agencies, he added.

La Quoc Khanh, deputy director of the Ho Chi Minh City Department of Culture, Sports and Tourism said laborers need to be trained both schools and tourist agencies.

Deputy PM Nhan suggested that each tourist agency needs to own at least one training center to help training and job skills improvement.

The country now has over 284 tourism training schools including 62 universities, 80 junior colleges and 117 vocational schools. Tourism schools mostly provide training in cooking and hotel room, table, bar and reception services, while tourism colleges have developed in recent years with teachers mostly coming from other subjects.

Expert forecasted that the tourism industry needs 1.5 to 2 million laborers by 2015. Hotel services alone need 185,632 people by 2010 and 250,000 by 2015 compared to 115,050 in 2005. Meanwhile, travel and transport services need several tens of thousands of laborers.

Between 2011 and 2015, tourism centers will be upgraded to meet international standards and international schools will be allowed to provide tourism training services in Vietnam.

However, experts said the strategy should be detailed to make it effective and suited to conditions in Vietnam.


Source: SGGP

Drug sector looks for high

In Uncategorized on August 8, 2010 at 7:20 pm

Drug sector looks for high

QĐND – Sunday, August 08, 2010, 21:3 (GMT+7)

Domestic and foreign investors are being called for medicine production paving the way for Vietnam’s drug production sector development.

The Ministry of Health (MoH) is calling for domestic and foreign investors to back eight medicine projects. Those include two projects to produce antibiotic materials- one with Mekophar and one worth $70 million with Ampharco USA.

Others are a packing project with Vipaco and Tan Thanh Phat Company, natural compound extraction with VCP Company, vaccine production with Vabiotech Company and a project for medical equipment production

Cao Minh Quang, Deputy Minister of Health, said foreign investment in the sector was limited as 90 per cent of production materials were imported and pharmaceutical production required large volumes of investment.

The MoH is compiling a detailed Vietnam pharmaceutical industry zoning plan to 2015 with a vision to 2020 focusing on zoning, allocating pharmaceutical factories toward specification and encouraging generic medicine production to reduce local market product prices.

“We will target domestic medicine production to meet 70 per cent of demand by 2015 and 80 per cent by 2020,” said Quang. EuroCham in Vietnam reported that Vietnam had made good progress in the clarity and quality of registration process for drug production.

However, a fast track registration process for medicines answering urgent needs could be considered and general pharmacy practice standard applications for retail pharmacies should be executed by 2011.

“Since January 2009, in line with the World Trade Organization agreement, 100 per cent foreign-owned pharmaceutical companies can be set up. However, the limited scope of licenced activity is still restricting foreign investments and granting import rights to pharmacy companies to allow accelerated investment in foreign-invested enterprises in Vietnam,” said a EuroCham official.

Keshav Dayalani, vice chairman of the Indian Business Chamber (Incham), said Vietnam should encourage hi-tech products, export incentives and develop infrastructure for drug development. “Our proposals for investment in Vietnam are a move from mass selling to quality production, set up high-end ailments and growth of specialised segments,” said Dayalani.

The country reportedly had 39 pharmaceutical foreign-invested projects by the end of 2009 including 26 operating projects with total registered capital of $302.6 million. Of these 23 projects are medicine production while others focus on medicine maintenance.

Foreign-invested factories’ production value accounted for 28 per cent of the country’s total medicine production. However, there are no foreign-invested projects in pharmaceutical chemistry and drug materials.

“We are asking the government to supplement packing production, medicines and natural compound extraction in the list of projects enjoying special incentives of investment in Vietnam,” said Quang.

Domestic medicine production met just nearly half of demand in Vietnam. The drug consumption per capita of Vietnam was $19.7 in 2009, a year-on-year increase of 20.1 per cent. The IMS Meridian Research Vietnam forecast drug consumption per capita in Vietnam will double after five years and the medicine production value in Vietnam will reach $1.9 billion in 2011 from $1.6 billion this year and $1.1 billion in 2009. 

Source: VIR/VietnamNet


Source: QDND

Education sector told to improve standards through management

In Uncategorized on July 31, 2010 at 7:18 pm

Education sector told to improve standards through management

QĐND – Saturday, July 31, 2010, 21:21 (GMT+7)

Vietnam’s education sector must improve its management if it is to raise standards, Deputy Prime Minister Nguyen Thien Nhan said on July 29 at a meeting in Hanoi.

In the 2009-10 academic year, about 92.57 percent of high school students passed the graduation exam – 8.97 percent higher than in the previous school year.

Nhan attributed the improvement to management programmes that had been introduced that academic year.

High school principals around the country underwent re-training courses that focused on leadership, while education managers learned how to adapt to being financially independent.

They were also told how to best promote their school’s achievements in terms of training quality, finance, infrastructure facilities and teaching/learning conditions.

Nhan said the Ministry of Education and Training should continue to implement programmes designed to boost educational management.

He said the focus should be on implementing new programmes for pre-schools that included a combination of different teaching methods, the application of e-learning, extra-training for students who were performing badly and boosting the management skills of staff.

Nhan also urged the ministry to work with provincial authorities on developing schools for gifted students to provide high-quality human resources for the country’s development, and said greater emphasis should be placed on foreign-language learning.

Education and Training Deputy Minister Nguyen Vinh Hien said at the meeting that up to 96.4 percent of pre-schools now apply information technology, while 82.8 percent are connected to the internet.

Secondary schools now meet universal standards, while more than half of all pre-schools have adopted educational programmes.

However, despite improvements in education, Hien said schools had yet to meet national development demand. He also said there was a teacher shortage, a lack of infrastructure, a high drop-out rate and too much emphasis placed on passive learning.

Source: VNA

Source: QDND

Tourism sector sees big increases

In Uncategorized on July 29, 2010 at 11:19 am

Vietnam welcomed around 410,000 foreign tourists in July, bringing the total number of foreign visitors to the nation in the first seven months of the country to more than 2.9 million, a year-on-year rise of almost 35 percent.

A volunteer (R) of the Tourist Information Center helps foreign visitors cross a street in the heart of HCM City. (Photo: KK)

The Vietnam National Administration of Tourism said the number of foreigners coming to Vietnam for work increased by 46 percent, followed by those for vacation, up by more than 44 percent.

The number of foreign tourists from China recorded an impressive growth of 95.4 percent; followed by Cambodia, up 93 percent, Thailand, up 32 percent and the Republic of Korea, up over 31 percent.

HCM City was the leading locality in attracting foreign tourists in the first seven months with over 1.6 million, a year-on-year rise of 13 percent.

The increase in foreign holiday makers to Vietnam was attributable to the world’s economic recovery that helped boost tourism demand, said experts.

Vietnam has organised tourism promotion programmes and cultural exchanges in China, Japan, Korea and Cambodia in addition to roadshows in Australia, Norway and West European countries, they added.

The nation has targeted 4.5-4.6 million foreign tourists this year, a year-on-year increase of more than 17 percent.

Travel agencies will continue with tourism promotion and sales discount programmes in August and September in a number of key tourism cities and provinces.

Hanoi plans to organise tours to a number of ancient Vietnamese capitals, museums and homestays to attract more tourists to the city on the celebrations of its 1,000th birthday.

Source: SGGP

Vietnam wants to boost public-private cooperation in health sector

In Uncategorized on May 29, 2010 at 9:13 am

To boost public-private cooperation in health sector, a conference was held by two ministries of Health and Planning and Investment, the Ho Chi Minh City People’s Committee and World Bank in the city on May 26 and 27.

Patients and relatives sit and lie down in a small hospital room. The government should call for investments in the health sector  to reduce pressure on major hospitals

The symposium played a role as a forum where domestic and foreign investors could share their views on state policies and experiences in implementing public-private health cooperation.

The workshop also opens a chance for investors to meet and discuss investment possibility with local governments.

In recent years, Vietnamese government has spent much on the health sector; for instance, its investment increased from one per cent to six per cent in 2007 and 2009 respectively. However, the government’s effort was unrewarded, overloaded work has still seen in many hospitals and quality is low compared to that of other countries in the region.

Meanwhile, Vietnam’s pharmaceutical industry has not developed much; the country demands over 40,000 tons of medical materials yearly but the homegrown firms can’t satisfy, according to Dr. Truong Quoc Cuong, chief of the Vietnam Drug Administration(VDA). Likewise, Vietnam spent US$59 million on buying vaccines in 2009.

Meeting participants said it needs to encourage all sectors to invest in the sector. Limited governmental budget can not satisfy the huge demands to upgrade of state-run hospitals; it leads to slowing implementation of hospital development projects.

Financial experts proposed the government should continue to support the sector by giving special treatment on land and paper procedure, encourage private medical clinics’ quality improvement to reduce pressure on central hospitals as well as call on social contribution to the sector.

VDA called for investments of foreign companies since very few overseas firms spend much on the pharmaceutical industry. Of 39 projects in the pharmaceutical industry so far, 25 have been operated with the total of US$302.6 million.

Source: SGGP

HCM City stimulates tourism sector

In Uncategorized on May 27, 2010 at 5:18 pm

Discussion on public-private cooperation in health sector

In Uncategorized on May 27, 2010 at 5:14 pm