A total of VND104.2 trillion (US$4.46 billion) has been raised this year as of August 22 by the State Treasury of Viet Nam via auctions of Government bonds at the Ha Noi Stock Exchange. At an auction last week, the State Treasury mobilised VND4.1 trillion worth of 10-year and 15-year Government bonds. Bonds with 10-year maturity raised VND1.5 trillion with annual interest rate of 4.6 per cent, up 0.03 per cent from the previous auction on August 15. A sub-session auction of 10-year bonds drew VND600 billion with yearly interest rate of 4.6 per cent. Those with a 15-year term attracted VND1.4 trillion with an annual interest rate of 4.87 per cent, up 0.03 per cent in comparison with the rate of the previous auction. As much as VND600 billion was mobilised from 15-year bonds at the sub-session auction with an interest rate of 4.87 per cent per year. No bonds of five-year, seven-year and 30-year terms were sold at this auction. Last year, Vietnam sold some VND159.9 trillion worth of … [Read more...] about Nearly $4.5 billion worth of G-bonds raised so far this year
5 billion years of solitude
Vietnam posts nearly US$5 billion worth of wood exports in seven months
The export revenue of wood and wooden products was estimated at US$4.8 billion in the first seven months of this year, an increase of 11.6% compared to the same period in 2017, the Ministry of Agriculture and Rural Development has announced. Vinanet forecast that Vietnam's exports of wood and wooden products will increase by 13-15 pct in the second half of 2018 - illustrative image According to the Vietnam Industry and Trade Information Center (Vinanet), FDI firms reported over US$1.78 billion worth of export revenue from wood and wooden products in the first six months of this year, up 4.8% over the same period last year and equivalent to 43.2 pct of the total export revenue of wood and wooden products. The US, China, Japan and the Republic of Korea (RoK) were the largest wood importers of Vietnam in the first half of this year, accounting for 78.5 pct of the total export value of wood and wooden products. During the six-month period, Vietnam earned US$1.6 billion from the … [Read more...] about Vietnam posts nearly US$5 billion worth of wood exports in seven months
$5 billion ‘wrongly spent’ each year: where has the money gone?
VietNamNet Bridge - The Government Inspectors’ conclusion that $5 billion worth of state’s money is “wrongly spent”’ a year has stirred up the public, reported Dat Viet. Vietnam needs huge capital for infrastructure development “$5 billion means 2-3 percent of Vietnam’s annual GDP ($200 billion). This is an unacceptably high level,” said Nguyen Van Ngai from the HCM City Agriculture & Forestry University. He noted that this is the official figure released by the Government’s Inspector and he is not sure if there are unreported figures. “I am afraid that if taking unreported figures into consideration, the real figure would be even higher,” he said. Dinh The Hien, an economist, said it is necessary to clarify what “wrongly spent” means. “Does ‘wrongly spent’ include expense items which don’t come in line with the laws, ineffective expense items and expenses in embezzlement … [Read more...] about $5 billion ‘wrongly spent’ each year: where has the money gone?
Dak Lak spends 21.5 billion VND on books and textbooks for pupils
The Central Highlands province of Dak Lak decided to spend 21.5 billion VND to provide free books and textbooks for more than 165,000 ethnic, orphaned and handicapped pupils in disadvantaged areas in the province. Each pupil will be provided with one set of textbooks and from six to twelve books. (According to TTXVN) … [Read more...] about Dak Lak spends 21.5 billion VND on books and textbooks for pupils
Pagoda conservation to take in VND 35.5 billion
The northern province of Bac Ninh has decided on a VND 35.5 billion project to conserve the Phat Tich pagoda for the period up to 2010. The project will focus on restoring key parts of the pagoda to original such as its bell tower and four main pillars. In addition, several pagoda facilities will be built or upgraded to meet demand by pagoda goers and promote the national cultural heritage site’s value. Source: ND … [Read more...] about Pagoda conservation to take in VND 35.5 billion
Dac Lac: VND 5 billion granted for cultural houses
VND 5 billion has been granted for the construction of an additional 104 cultural centres by Dac Lac province in 2008. Dac Lac has so far constructed 430 cultural centres in 534 communes for ethnic residents in the locality to hold cultural activities. With the additional 104 centres in 2008, it is expected that every commune will have its own cultural centre. Source: QDND … [Read more...] about Dac Lac: VND 5 billion granted for cultural houses
Traditional New Year of Vietnamese ethnic minority groups
(Cinet)- Vietnam is the home to 54 ethnic minority groups. Each ethnic minority group has its own festivals, customs, beliefs and farming practice. For some ethnic minority groups, New Year lasts about half a month, during which time many exciting cultural and community activities will take place. Following are traditional New Year customs of some ethnic minority groups in Vietnam. 1. New Year of Muong ethnic minority In term of sequence and customs, the New Year of Muong ethnic minority people is quite similar to the New Year of Kinh people. There is a unique tradition of “sac bua” singing that is being preserved. This is a kind of singing to wish Happy New Year. On the first and second days of the first month of the Lunar New Year, Muong children gather together to beat gongs and sing “sac bua”. They go through any household, which opens its doors to give children some money or cake.The popular games during the New Year of the Nung ethnic … [Read more...] about Traditional New Year of Vietnamese ethnic minority groups
Hanoi spends 67.5 billion to restore historical – cultural relic sites
Hanoi last year raised a fund of VND 67.5 billion from social sources to restore 108 historical and cultural relic sites in the city. Of the total, Cau Giay district has raised VND 13.58 billion, Long Bien district, VND 12.7 billion and Tu Liem district 12.5 billion. The culture sector has co-oridinated with district authorities to organise symposiums and training on restoration and preservation of relics in the capital city such as the Sai Dong temple, Tinh Quang temple and Thanh Am temple in Long Bien district, Tay Tuu temple in Tu Liem district. District authorities of Tay Ho, Hoan Kiem, Ba Dinh have co-operated with relevant sectors to list objects and artifacts of relics in need of preservation. Source: ND … [Read more...] about Hanoi spends 67.5 billion to restore historical – cultural relic sites
100 Years of Solitude turns 50
VietNamNet Bridge – A photo exhibition marking the 50th publishing anniversary of the Nobel Prize winning One Hundred Years of Solitude by Colombian author Garbriel Garcia Marquez (1927-2014), will be held at the Da Nang Fine Arts Museum on December 18-30.The exhibition, held for the first time in the city in a collaboration between the museum and the Colombian embassy, will display 27 photographs featuring the life of Marquez taken by documentary photographer Nereo Lopez (1920-2015).The novel was first published in Spanish in 1967 in Buenos Aires by Editorial Sudamericana. An English translation by Gregory Rabassa released in New York in 1970 by Harper and Row.The book is considered Marquez’s masterpiece, metaphorically encompassing the history of Colombia and Latin America.Considered one of the most significant authors of the 20th century and one of the best in the Spanish language, Marquez was awarded the 1972 Neustadt International Prize for Literature and the 1982 … [Read more...] about 100 Years of Solitude turns 50
Textile-garment trade surplus may hit US$15.5 billion this year
Vietnam’s textile and garment sector may have a trade surplus of US$15.5 billion on total export revenue of US$31 billion this year, said Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (VITAS). The Vietnam Textile and Apparel Association forecasts that Vietnam’s textile and garment export revenue might reach US$31 billion this year and the number is expected to increase to US$33.5-34 billion next year At a press conference in HCMC on December 11, Giang said the sector has gained strong export growth this year, at 10.23% versus 2016, and the momentum is to continue into next year with export earnings expected at US$33.5-34 billion.The sector has faced multiple challenges early this year, but the situation has changed for the better since the second quarter of this year, Giang said.Of the total export revenue of this year estimated at US$31 billion, textiles and garments contribute an estimated US$25.91 billion, fabrics US$1.07 billion and cotton … [Read more...] about Textile-garment trade surplus may hit US$15.5 billion this year