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Posts Tagged ‘urges’

Vietnam urges to remove obstacles in infrastructure

In Uncategorized on December 19, 2010 at 9:27 pm

Vietnam urges to remove obstacles in infrastructure

QĐND – Sunday, December 19, 2010, 22:38 (GMT+7)

In the next five to ten years, Vietnam will need around US$70-80 billion to upgrade its infrastructure which is considered one of the main tasks to improve its competitive edge in the region and to further integrate into the international economy.

In 2010, Vietnam has been successful in transitioning from a low-income country to a middle-income country by fullly tapping domestic advantages and improving business environment for both local and international investors. However, Vietnam still faces challenges in terms of infrastructure, which has a negative impact on businesses’ operations.

Hank Tomlinson, President of the American Chamber of Commerce in Vietnam said that there were still shortcomings to the development of Vietnam’s infrastructure, especially in building roads linking to provinces and cities, bridges as well as strategic roads near seaports. This has negative impact on direct foreign investment in the country as these limitations are the reason why many US investors do not want to invest in Vietnam due to these limitations.

One specific limitation is high transportation costs. According to businesses, transportation costs in Vietnam now accounts for a higher proportion of GDP than in other nations in the region. For example, these costs make up 13 percent of GDP in Indonesia and Malaysia, 18 percent in China while it is 25 percent in Vietnam.

Maersk Line Vietnam & Cambodia General Director Peter Smidt-Nielsen said that there are many reasons why transportation costs in Vietnam are higher. However, it is obvious that poor infrastructure is an important factor including traffic jams, lack of transparency and forecast, and backward means of transportation which often do not meet the regulations on weight limit.

To solve these issues, Vice President of the Australian Chamber of Commerce, Brian O’Reilly said that Vietnam should pay attention to the Public-Private Partnership model which will make important contribution to improving infrastructure in Vietnam. In addition, it is necessary to improve administrative formalities, especially those related to infrastructure projects and contracts.

Vietnam has been successful in improving access to infrastructure services over the past 20 years. However, many things need to be done to improve the country’s competitive edge and remove obstacles to the further growth of the national economy. As Vietnam continues to make progress in developing its economy, it is also necessary to continue to adjust policies and institutions accordingly, said deputy minister of Planning and Investment Dang Huy Dong.

According to international surveys, although Vietnam has made major development achievements, it has not resolved issues of infrastructure effectively. This has become the biggest hindrance in improving Vietnam’s business environment. Removing this obstacle will allow Vietnam to continue toward a positive and sustainable economic growth rate and the realization of its goals in the next decade.

Source: VOV

Source: QDND

VNA urges closer regional ties in multimedia

In Uncategorized on November 27, 2010 at 2:51 pm

Source: QDND

PM urges state-run businesses to improve operational effectiveness

In Uncategorized on November 19, 2010 at 1:58 pm

Senior official urges protecting people affected by floods

In Uncategorized on November 2, 2010 at 1:42 pm

Lebanese PM urges Iraqis to accept Saudi invitation

In Uncategorized on October 31, 2010 at 11:12 am

Tokyo urges Japan and China to avoid tit-for-tat claims

In Uncategorized on October 22, 2010 at 7:52 am

 Japan and China should focus on the big picture and avoid tit-for-tat recriminations, Japan’s chief cabinet secretary said on Friday, as public protests and sharp comments by senior officials suggested mounting tensions between Asia’s two biggest economies.

Messages on the Chinese Internet in recent days have called for protests in Chongqing, a sprawling city in China’s southwest, and a smaller city, Deyang, also in the southwest, after thousands of protesters marched last week in both countries.

A Shinto priest prepares for a visit by a group of Japanese lawmakers at the Yasukuni Shrine for war dead in Tokyo August 15, 2010, on the 65th anniversary of Japan’s surrender in World War Two

China’s distrust of Japan resurfaced on Thursday when Beijing refused to say whether the leaders of the two countries would meet at a regional summit this month and accused Tokyo’s foreign minister of rekindling ill-will.

“Neither side should be nitpicking over particular comments and then overreacting,” Yoshito Sengoku, the de facto No. 2 in Japan’s cabinet, told a news conference.

He said the two sides should take a broad, generous approach and give each other leeway as he reiterated calls for building mutually beneficial strategic ties.

Sino-Japanese relations deteriorated sharply last month after Japan detained a Chinese trawler captain whose boat collided with Japanese patrol ships near a chain of disputed islands in the East China Sea, called Senkaku in Japan and Diaoyu in China.

Concerns remain in Japan that Beijing is holding back shipments of rare earth minerals, vital for electronic goods and auto parts, following the dispute.

Thousands of protesters marched last week in both countries, venting anger and underscoring their fragile ties, strained by bitter Chinese memories of Japan’s wartime aggression and Japan’s worries about growing Chinese economic and military might.

The two governments are trying to arrange a meeting between Chinese Premier Wen Jiabao and Japanese Prime Minister Naoto Kan on the sidelines of the end-October gathering in Vietnam, but the outlook is unclear.

Japanese Foreign Minister Seiji Maehara said last week that there was no need to rush into holding a meeting. Chinese Assistant Foreign Minister Hu Zhengyue said on Thursday that whether the meeting will take place depends on whether Tokyo can create a “suitable atmosphere.”

Source: SGGP

ADB urges multi-national effort against “Dollarisation”

In Uncategorized on October 17, 2010 at 10:25 pm

ADB urges multi-national effort against “Dollarisation”

QĐND – Sunday, October 17, 2010, 20:41 (GMT+7)

The Asian Development Bank (ADB) has pointed out a need for regional cooperation in monetary and financial issues, particularly to deal with the issues of multiple currencies within domestic economies.

The region’s biggest development bank made the statement in the latest study, which was published on October 15. 

The study, Dealing with Multiple Currencies in Transitional Economies: the Scope for Cooperation in Cambodia , Laos , and Vietnam , is a pioneering work on the multiple-currency phenomenon with important recommendations for promoting regional monetary and financial cooperation. 

In the three target countries, other countries’ currencies, particulary the US dollar, are found in broad use. The share of foreign currencies ranges from around 20 percent of all currency in circulation in Vietnam , about 50 percent in Laos , and more than 90 percent in Cambodia . 

In this regard, the ADB Country Director for Vietnam , Ayumi Konishi, recognised progress made by the country in de-dollarisation. 

“Yet, authorities, especially the State Bank of Vietnam , are fully aware that administrative measures alone cannot be effective”, said the ADB residential chief. 

He explained that in order to de-dollarise the Vietnamese economy, it is essential to enhance people’s confidence in Vietnamese dong through sustainable and high economic growth, stabilisation of the foreign exchange rate, reforms in monetary policies, and strengthening of the capacity of financial institutions. 

Jayant Menon, Principal Economist in ADB’s Office of Regional Economic Integration, a co-editor of the study, remarked “Dollarisation blunts the tools for macroeconomic stabilisation, especially monetary and exchange rate policy, that a country like Vietnam needs in order to tackle a variety of economic and developmental challenges, such as rising inflation”. 

He warned Vietnam , where the US dollar makes up 20 percent of the total money circulation, for its partial dollarisation which may lead to some limitations especially in deploying policies for macroeconomic stabilisation. 

Solutions such as official dollarisation, compulsory de-dollarisation and mono currency are all infeasible, said the ADB expert. 

Experts recommended three solutions, including the short-term solution which highlights strengthening the momentum for depositing savings in the Vietnamese dong instead of the US dollar or gold. They also urged banks to encourage long-term saving deposits in the Vietnamese dong and reduce sudden changes or any instability in the short-term saving deposit interest rates.

Their recommendations for a medium-term solution included a currency-bound mechanism and reserving the right to mould or print currency. 

For a long-term solution, experts recommended the economy be prepared for the de-dollarisation process, building financial institutions and speeding up reforms in the State-owned enterprise sector for sustainable development. 

The other co-editor of the study, Giovanni Capannelli, Principal Economist in the ADB Institute, urged monetary authorities of Cambodia , Laos and Vietnam to share information and experiences in order to find a solution to the dollarisation issue. 

“The three countries have a lot to gain from closer cooperation, both among themselves and with the rest of the members of the Association of Southeast Asian Nations”, said the ADB expert. 

ADB, based in Manila , is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. 

In 2009, it approved a total of US$16.1 billion in financing operations through loans, grants, guarantees, a trade finance facilitation programme, equity investments, and technical assistance projects. 

Vietnam will host ADB’s 44th annual meeting in Hanoi in May 2011.

Source: VNA

Source: QDND

PM urges Tay Ninh to create competitive investment climate

In Uncategorized on August 11, 2010 at 3:20 pm

PM urges Tay Ninh to create competitive investment climate

QĐND – Wednesday, August 11, 2010, 21:18 (GMT+7)

Prime Minister Nguyen Tan Dung has asked Tay Ninh province to review its infrastructure works and mobilize all sources of investment, take better care of human resources, especially farmers, and boost public administration reforms to attract more investors.

Mr Dung made this request while working with authorities from the southern province on August 11 for the implementation of socio-economic plans in the 2006-2010 period and orientations for the next five years.

He said Tay Ninh has made many achievements in various fields and ensured better living conditions for the people but can do more to ensure sustainability of the local economy, orientations for agriculture, and phase out obsolete technologies that cause pollution.

The PM requested the province specify each of its future development targets, including seeking investors for its eight industrial zones, and the ongoing cement project, and to quickly introduce the pharmaceutical chemistry to hi-tech industrial parks.

Tay Ninh province needs to apply modern technology and expedite the application of new varieties in agriculture and aquaculture, said Mr Dung.

At the same time, he suggested that the local officials better deal with social issues, with a particular focus on forest plantation and protection and maintaining social order.

During the working session, PM Dung and some senior government officials in his delegation discussed provincial proposals to build a 55km expressway connecting HCM City and Moc Bai border gate, to expand National Highway 22B, its border routes and build roads between districts and communes.

Over the past five years, Tay Ninh has recorded an average annual GDP growth rate of 14 percent and raised its per capita income to US$1,390. The province’s industrial and service values rose by 16.8 percent and 21.5 percent respectively over the reviewed period and the rate of poor households fell to just 1.5 percent.

The province has set plans for the next five years to increase its GDP by over 14 percent annually and reach more than US$2,970 in per capita income. It also plans to make 100 percent of its business and production establishments meet environmental standards.

Source: VOV

Source: QDND

Political Bureau urges restructuring of Vinashin

In Uncategorized on August 9, 2010 at 3:20 pm

Political Bureau urges restructuring of Vinashin

QĐND – Monday, August 09, 2010, 21:37 (GMT+7)

The Political Bureau of the Communist Party of Vietnam Central Committee has decided to set up a steering committee in charge of assisting the country’s largest shipbuilder Vinashin to settle its operation and financial problems as soon as possible.

This was part of the Political Bureau’s conclusion on Vinashin on July 31 after hearing the Party Delegation of the Government reporting the group’s situation and opinions from the Party Central Committee Office, the Party Central Committee’s Inspection Commission, the National Assembly’s Economics Committee, the Ministry of Public Security and other central ministries and agencies.

The Steering Committee consisting of representatives of relevant ministries, sectors, branches of the Government and a number of Party units, is headed by Nguyen Sinh Hung, a Politburo member and Permanent Deputy Prime Minister.

It is tasked to work out policies and measures to help Vinashin develop its business line after getting stabilised.

In the conclusion, the Political Bureau recognised the wide-ranging and fast developments Vinashin has made since its foundation in 1996.

It cited the group’s important infrastructural facilities that enabled the ship building industry to grow at an annual average growth rate of 35-40 percent during 1996-2006 and its contingent of 70,000 experts and technicians capable of building various types of ships for economic, defence, security purposes and for export.

However, Vinashin is currently facing a lot of difficulties and due to management, weaknesses and some serious wrongdoings, the Political Bureau said.

It referred to the group’s reckless expansion and scattering investment, financial problems that made it end up on the brink of bankruptcy and come to a standstill in business and its investment projects, as well as its internal troubles that caused 17,000 of its workforce to leave the group.

The Political Bureau pointed out objective and subjective reasons behind the Vinashin case, underscoring subjective causes as the main ones.

It said direct responsibility in the case must be held by the group’s Management Board and its leadership, including the Chairman of the Management Board while laying stress on the lack of responsibilities among number of concerned State management agencies at the central and grassroots levels.

To remedy Vinashin’s weaknesses and fix its wrongdoings, the Political Bureau assigned the Party Delegation of the Government to take the lead in instructing such works as follows:

– Promoting what Vinashin has achieved in the past years, continuing to affirm the mechanical engineering industry as the major sector in the national strategy on industrialisation and modernisation and the ship building and repairing industry as the spearhead sector for the development of maritime economy and the country’s sea strategy through 2020 and the following years.

– Quickly restructuring Vinashin to stabilize its production and business and step by step strengthening its trademark to prevent it from going bankruptcy and collapsing as it will have adverse effects on the ship building industry’s development confidence rate and international debt payment as well as the country’s investment environment. 

– Urgently re-evaluating the performance of Vinashin’s parent company, its affiliates, integrated companies and invested projects in an accurate, objective, and honest manner to take specific and appropriate rearrangements.

In dealing with Vinashin’s debts and its increase of charter capital, especially those relating to the State budget, the Political Bureau asked the Government to work out feasible measures in line with Vietnam’s laws and international rules.

It asked the Government to ensure the harmony of interests of concerned parties and not to cause difficulties for other groups, corporations as well as credit organisations.

Besides, the Political Bureau requested that other economic groups and corporations are examined, inspected and evaluated accurately and their financial situation and production and business performance are disclosed publicly and transparently. 

It also urged the Government to promptly keep a close watch on these groups and corporations when they expand their investment into other fields out of their main business line.

Source: VOV

Source: QDND

VFA urges swift action to help farmers sue Vedan

In Uncategorized on August 6, 2010 at 11:20 am

The Vietnam Farmers Association has asked Farmers Associations of HCM City, Dong Nai and Ba Ria – Vung Tau provinces to support farmers in completing legal procedures necessary to bring Vedan to court.

According to the Vietnam Farmers Association, the offer of VND130 billion (US$6.8 million) from Taiwanese MSG producer Vedan as compensation is far too low compared with the economic damage the company caused farmers in HCM City, Dong Nai and Ba Ria – Vung Tau provinces.

The Vietnam Farmers Association has asked the local farmer associations and relevant departments to cooperate closely with each other to protect ther rights of affected farmers and help them acquire funds requisite to file their lawsuit against Vedan.

According to Tran Van Cuong, deputy chairman of Ba Ria – Vung Tau Province’s Department of Agriculture and Rural Development, the Tan Thanh District People’s Court has received 800 of 1,255 petitions of affected farmers requesting that Vedan pay damages.

On the same day, lawyers, acting on behalf of farmers, brought 57 petitions of farmers in Long Thanh and Nhon Trach districts of Dong Nai Province to local courts of respective districts.

To date, 58 legal petitions to bring Vedan to court have been filed in Dong Nai Province.



Source: SGGP