Describe about hcm city

Cargo being handled at Cat Lai Port in HCM City’s District 2 (Photo: VNA) HCM City (VNS/VNA) - Ho Chi Minh City should draft a master plan to develop its logistics sector, said Pham Thanh Kien, Director of the municipal Department of Trade and Industry. Speaking at a conference held to discuss the development of the industry from now through 2025 recently, he said the city should learn from experiences in other countries and to develop the industry into one of its major sectors. HCM City should be developed into a logistics hub for the region, and the cost of logistics in Vietnam should be reduced to 16 percent of the country’s GDP (gross domestic product) by 2025, he said. Ho Thi Thu Hoa, Head of the Vietnam Logistics Research and Development Institute (VLI), said researchers for a project to develop the city’s logistics industry have carried out fact-finding tours of eight locations where the city’s logistics centres would come up. They include the Dong … [Read more...] about HCM City to build eight new logistic centres

Resolution No 10/2017 of the municipal People’s Council, which seeks to encourage investment to transform the farm sector into a modern, efficient and sustainable one in 2017-20, provides for the subsidy. The loan amount entitled to the support will be based on the investment scale and the regulations of the lending organisation.  The subsidy will be equal to the average VND12 month deposit interest rate at four State-owned banks - Agribank, BIDV, Vietcombank, Vietinbank - plus 2%. If the lending interest rate is lower than the subsidy rate, the subsidy provided will be equal to the former. The subsidy will cover the following components: basic construction, machinery and equipment for agricultural production and processing, harvesting birds’ nest, buying new fishing vessels and upgrading machine capacity, replacing existing unproductive dairy cows, and seed and hi-tech agricultural production. The term of support will depend on the approved production cycle but not … [Read more...] about HCM City to pay interest for hi-tech farms

In a letter, it said all commercial banks must review and amend their internal regulations if needed to improve safety. “Banks must ensure all their staff fully understand and implement all regulations and regularly provide them with training.” The State Bank of Vietnam has instructed all banks to improve safety of their money transactions after the Ministry of Public Security issued an international warrant for a fugitive bank executive for allegedly misappropriating nearly 11 million USD from a customer (Photo: vietnamnet.vn) The central bank also called on lenders to upgrade their technologies to improve security and work closely with authorities to provide and receive information related to frauds. “Education on money transaction should be improved for customers. Oversight and rotation of staff are very important.” It said banks must immediately report to the SBV and other related authorities when they detect a fraud or security violation, it … [Read more...] about SBV tells banks to up security after US$11-million fraud

Air quality in Hanoi worsened this morning as the northern region has had dry weather over recent days. Pollution on December 11 The air quality index at Tay Ho District's Phu Thuong Station at 5 am was 380. The data measured at the US Embassy in Hanoi was 269. Vietnam Environment Administration reported that data measured by their air quality monitoring system on Nguyen Van Cu Street at 7 am was 199. Over 60 monitoring spots of PAM air quality monitoring system also showed alarming data. Old people, children and people with respiratory diseases have been advised to stay indoors and Hanoians have been told not to go out for morning exercises. Residents are also advised to close the windows and wear masks when they have to go out. In several countries like Thailand, China and Singapore, schools are often closed and outdoor activities are halted during polluted days. The authorities also ban straw burning activities and construction work for a few days. Change Organisation is … [Read more...] about Hanoi air quality worsens as dry weather continues

Vietnam’s M&A market is forecast is expected to touch $6.5-$6.9 billion in 2018 (Photo: baodautu.vn) Hanoi (VNS/VNA) – Vietnam’s M&A market is forecast to reach 6.5-6.9 billion USD in 2018, which is lower than the 2017’s record of 10.2 billion USD. “We expect the M&A value in 2018 to decline from 2017, as this year may not have as big deal as Sabeco,” said Dang Xuan Minh, AVM Vietnam’s CEO. Vietnam’s merger and acquisition (M&A) market hit over the 10-billion-dollar landmark for the first time last year and is at the turning point to reach a new era of opportunities in the next decade. M&A value continued to rise 55 percent year-on-year to reach 3.55 billion USD in the first six months of this year. “One year ago, even very optimistic forecasts hardly envisaged the M&A boom in 2017 which thrust Vietnam’s M&A value to 10.2 billion USD, a growth of 175 percent over 2016. This is a record number, … [Read more...] about Vietnam’s M&A market declines in 2018