China defence industry

To encourage the development of specialised ships, he said the ministry had requested enterprises to build or buy ships to replace foreign-nationality vessels, because Viet Nam would only license foreign-nationality ships until the end of 2023 to operate on domestic routes. … [Read more...] about Shipping industry needs State support to develop: ministry

Therefore, the ministry has proposed the Prime Minister consider and adjust financial mechanisms to support the development of the fleet, including loans with preferential interest rates. Investment in a fleet of ships requires huge and long-term capital, while local enterprises are unlikely to be able to invest in high-quality fleets, according to Deputy Minister of Transport Nguyễn Nhật. The shipping companies have received very little financial support from the Government in the past few years to carry out fleet development. Interest rates on bank loans in Việt Nam are from 8-10 per cent per year, higher than interest rates in other countries such as Japan (1-2 per cent), Singapore (3 per cent) and China (4.5 per cent). At the same time, when registering a ship to fly the Vietnamese flag, the enterprise must carry out procedures on importing ships and have to pay taxes and fees such as registration fee, value-added tax and import tax on ships. Some ship owners … [Read more...] about Shipping industry needs State support to develop: ministry

The Covid-19 crisis continues to represent an immediate threat to both individual safety and businesses, reflecting why pandemic outbreak has rocketed 15 positions up to #2 in the global rankings at the expense of other risks. Prior to 2021, it had never finished higher than #16 in 10 years of the Allianz Risk Barometer, a clearly underestimated risk. However, in 2021, it's the number one risk in 16 countries and among the three biggest risks across all continents and in 35 out of the 38 countries which qualify for a top 10 risks analysis. Japan, South Korea and Ghana are the only exceptions. China is the only country in Asia Pacific where Pandemic outbreak is not a new risk as it was ranked #7 in 2020. … [Read more...] about Allianz Risk Barometer 2021: Pandemic outbreak overtakes Business Interruption as top business risk in China

Hanoi (VNA) - Party General Secretary and State President Nguyen Phu Trong, head of the document sub-committee, has delivered the 12th-tenure Party Central Committee’s report on documents submitted to the 13th National Party Congress, pointing out many new and outstanding issues in the orientations for the next 10 years. He presented the report at the opening session of the congress, in Hanoi on January 26. The overall development goal for the 2021-2025 tenure and subsequent years is to improve the Party’s leadership capacity, ruling capacity, and combatant strength; build a clean and comprehensively strong Party and political system; enhance the people’s trust in the Party, State, and the socialist regime; inspire aspirations for a prosperous and happy country and bring into play the will and strength of the great national solidarity in combination with the strength of the era; comprehensively and concertedly promote reforms, industrialisation, and modernisation; … [Read more...] about New, outstanding issues in national development orientations for next decade

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