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Foreign ship arrivals down 6 percent in first two months Vietnam’s sea ports have berthed some 4,900 foreign vessels over the last two months, a decline of 6 percent year-on-year, according to the Vietnam Marine Administration. The fall was due largely to the impact of COVID-19, which is resulting in major fluctuations in the transport sector, a representative of the administration said. Despite the lower number of foreign ships, the volume of import and export goods through ports grew. In January and February, 35.3 million tonnes of imports and 26 million tonnes of exports were handled at ports nationwide. The former represented an annual increase of 14 percent while the latter was as same as that last year. In particular, nearly 1.3 million TEUs for exports and 1.2 million for imports were handled during the period, up 32 and 16 percent, respectively, year-on-year; the highest growth since the pandemic began. Meanwhile, the arrival of domestic vessels totalled … [Read more...] about VIETNAM BUSINESS NEWS MARCH 3

The Hanoitimes - In 2019, nine state firms were supposed to proceed with privatization, but only three in the prime minister-approved list for privatization completed the process. In the 2016 – 2019 period, only 36 out of 128 state-owned enterprises (SOEs) subject to privatization under the instruction of Prime Minister Nguyen Xuan Phuc completed the process, meeting 28% of the plan, according to Dang Quyet Tien, director of the Corporate Finance Department under the Ministry of Finance (MoF). Dang Quyet Tien (standing), director of the Corporate Finance Department under the Ministry of Finance (MoF). Source: MoF. The authority approved privatization schemes for 168 SOEs during the period with total asset value of VND443.05 trillion (US$19.03 billion), of which state capital makes up VND206.69 trillion (US$8.92 billion). In 2019, nine SOEs were supposed to proceed with privatization, but only three in the PM-approved list for privatization completed the … [Read more...] about Vietnam’s SOE privatization meets just 28% of target

With export turnover of $2.04 billion, the US surpassed China to become the largest consumer of Vietnamese agricultural products in the first two months of 2021. The latest report of the Ministry of Agriculture and Rural Development shows that the total import and export turnover of agricultural, forestry and fishery products in the first two months of this year is estimated at nearly $11 billion, of which exports are estimated at $6.17 billion, an increase of 16.6% year on year. Imports are estimated at $4.8 billion, up 13.6%. The trade surplus is about $1.37 billion, up 28.4% over the same period of 2020. Export turnover of many key export agricultural products grew strongly during this time. For example, rubber export value reached about $516 million (up 9.9%); tea $29 million (up 11.1%); cashew nuts $442 million (up 21.5%), vegetables $610 million (up 14.6%); wood and wood products about $2.44 billion (up 51.0%); and rattan and bamboo products $128 million (up … [Read more...] about US surpasses China to become largest importer of Vietnam’s agricultural products

Consultant proposes not adding new airports by 2030 The Saigon Times A view of the Tan Son Nhat International Airport - PHOTO: LE ANH HCMC – The consultant of the national airport development plan in the 2021-2030 period with a vision to 2050 has proposed that new airport projects should not be added to the airport system by 2030 already approved by the prime minister as too many provinces have proposed developing airports. By 2050, the consultant proposed developing only Cao Bang airport, the local media reported. Based on the economic efficiency of the operational airports and the experience of other countries, the consultant has listed out six main criteria for the necessity and feasibility of new airports, comprising demand, contribution to socioeconomic development, national defense and emergency, natural conditions and their distance to central urban areas and adjacent airports. Based on these criteria, the consultant concluded that with 28 airports … [Read more...] about Consultant proposes not adding new airports by 2030

The Hanoitimes - Vietnam currently pursues building a startup nation based on innovation, but there are remaining many difficulties challenging the country. Assoc.Prof.Dr. Bui Hoai Son talks with Hanoitimes about this issue. In your opinion, why do cities want to participate in the world's Creative Cities Network? The new trend of the world today is to tap into creativity as the most important resource for development, because creative resources are unlimited, compared to natural ones. So that people should exploit resources to enrich themselves and the society. Doan Mon Gate - Thang Long Imperial Citadel. Photo: Pham Hung Countries that make good use of the creativity potential of human have a better advantage than others. It is evident that many countries with limited natural resources are among the most developed ones, such as Israel, Singapore, Japan, South Korea. Moreover, innovative products play a more important role in life and economic … [Read more...] about Culture makes creativity: expert