VNR to keep divesting its subsidiaries Vietnam Railway Corporation (VNR) wants to continue the divestment of its subsidiaries, aiming to improve competitiveness and attract investors to enhance efficiency after three years on a downward spiral. A report on the results of the first six months of 2018 from VNR shows that all of its business indicators are on the rise, with revenue amounting to some VND4,000 billion, up 17.8% year-on-year, and with profit reaching VND106 billion. According to the report, the growth in revenue results from a series of renovation solutions for railway services, including replacing new cars, flexibly increasing and decreasing ticket prices depending on the market demand and linking to the tourism sector to attract passengers in groups. As railway transport models are still facing challenges, VNR has been forced to continue rearranging and restructuring its mechanisms and activities to sustain its operations and develop further. Besides this, the corporation … [Read more...] about BUSINESS NEWS IN BRIEF 5/8
India vietnam defence deal
VN-India defence policy dialogue concretises joint commitments
Vietnamese Deputy Defence Minister Sen. Lieut. Gen. Nguyen Chi Vinh (Source: VNA) New Delhi (VNA) – The 11th Vietnam-India defence policy dialogue, which took place in New Delhi, India on August 1, demonstrated India’s high political trust and wish to enhance defence ties with Vietnam, said Vietnamese Deputy Defence Minister Sen. Lieut. Gen. Nguyen Chi Vinh. The official, who co-chaired the dialogue, told the Vietnam News Agency that he is pleased with results of the event, which, he said, is to concretise commitments reached by high-ranking leaders of the two countries, especially those between the two defence ministries aiming to intensify defence cooperation, mutual political trust and national defence of both countries. According to the deputy minister, Vietnam and India have agreed to organise high-level visits and delegation exchanges, and cooperate in training, defence industry and high-technology as well as between armed services. To that end, it requires … [Read more...] about VN-India defence policy dialogue concretises joint commitments
ASEAN, partners meet in Singapore to strengthen defence ties
Vietnamese Deputy Defence Minister Nguyen Chi Vinh and other ASEAN officials at the ASEAN Defence Ministers' Meeting Retreat in Singapore last February (Photo: VNA) Singapore (VNA) – The ASEAN Defence Senior Officials’ Meeting (ADSOM) and ASEAN Defence Senior Officials’ Meeting Plus (ADSOM+) took place in Singapore from July 11 to 13 to enhance defence cooperation in ASEAN as well as between the bloc and partner countries. The two meetings also aimed to prepare for the ASEAN Defence Ministers’ Meeting (ADMM) and the ASEAN Defence Ministers’ Meeting Plus (ADMM+) slated for this October. At the ADSOM, heads of the delegations discussed reports on the outcomes of defence cooperation among ASEAN nations, the meetings of ASEAN militaries’ research agencies, and the preparations for the ADMM and the ADMM+. They reaffirmed the importance of solidarity and solidarity in the bloc to effectively respond to common security challenges. Amid the swiftly … [Read more...] about ASEAN, partners meet in Singapore to strengthen defence ties
Vietnam’s export turnover to hit 236.6 billion USD in 2018
Illustrative photo (Photo: http://customsnews.vn) Hanoi (VNA) – Vietnam’s export turnover is likely to reach 236.6 billion USD in 2018, an increase of 10 percent against the previous year, amid favourable domestic and foreign economic conditions, say analysts. The first half of this year ended with positive export outcomes, creating a good momentum for the country to enjoy trade surplus for the rest of the year, they said, adding that more orders in the remaining quarters of the year will give a boost to exports. According to Tran Thanh Hai, deputy head of the Import-Export Department under the Ministry of Industry and Trade (MoIT), Vietnam earned 113.93 billion USD from exports in the first six months of 2018, up 16 percent year-on-year. Of the sum, more than 33.1 billion USD came from the shipment of domestic enterprises, an annual rise of 19.9 percent, while the remaining came from the foreign invested sector (including crude oil), up 14.5 percent. As many as … [Read more...] about Vietnam’s export turnover to hit 236.6 billion USD in 2018
BUSINESS IN BRIEF 23/6
Brussels workshop focusses on EU-Viet Nam FTA The Vietnamese Embassy in Belgium held a workshop in Brussels on June 20 to speed up the signing and ratification of the European Union (EU)-Viet Nam Free Trade Agreement (EVFTA). The workshop was held in collaboration with the European Union, EU-Viet Nam Friendship Parliamentarians’ Group and European Institute for Asian Studies. Speaking at the event, Vietnamese ambassador to Brussels Vu Anh Quang highlighted the positive results of economic, trade and investment cooperation between Viet Nam and the European Union and called for the Union’s strengthened collaboration with Viet Nam and the Association of Southeast Asian Nations. According to him, EVFTA is a balanced document that benefits both Viet Nam and the European Union and has large influences on bilateral political, economic, trade and investment ties. The agreement will help EU companies access the 90-million-strong Vietnamese market, contributing to … [Read more...] about BUSINESS IN BRIEF 23/6
BUSINESS IN BRIEF 13/6
Da Nang sets economic goals towards 2030 The central city of Da Nang aims to have the GRDP growth of 9 – 11 percent and GRDP per capita ranging between 7,000 USD and 9,000 USD for 2018 – 2030. The goals were mentioned at a workshop held by the municipal People’s Committee on June 11 to discuss the city’s development by 2030 with a vision towards 2045. The workshop gathered urban planners, economists and policy makers both at home and abroad. These experts shared hands-on experience from a number of local and foreign cities to give leaders of Da Nang a broader view of the city’s advantages, competitiveness, capacity to expand urban spaces in tandem with development of public transport, and how to build policies and raise capital for infrastructure development and develop the city sustainably. To meet the achievements, Da Nang plans to achieve strong economic growth with breakthroughs by promoting Industry 4.0 and international integration; develop a … [Read more...] about BUSINESS IN BRIEF 13/6
17th Shangri-La Dialogue officially opens in Singapore
The Vietnamese delegation to the event is led by Defense Minister General Ngo Xuan Lich. Gen. Lich speaks at the 17th Shangri-La Dialogue Addressing the opening session, Indian Prime Minister (PM) Narendra Modi emphasized that the trade in the region is growing significantly and that competition is normal in the international trade and economic playground but it should not turn into dispute or conflict. Regarding the importance of maritime transportation routes in the region, particularly those in the East Sea (South China Sea), to international trade he said, “Global transit routes should remain peaceful and free for all.” He said, India attaches much importance to promoting relations with ASEAN, and highly values the bloc’s central role in regional multilateral mechanisms. “I see ASEAN as an inspiration,” he said. He underscored that ASEAN’s unity is essential for this region to prosper, so ASEAN’s unity must be supported. … [Read more...] about 17th Shangri-La Dialogue officially opens in Singapore
Social News 5/2
Tra Vinh: 6.2 mln USD to be spent on climate adaptation A rural road project in Tra Vinh (Source: http://bdkhtravinh.vn/site/633)Nearly 143 billion VND (6.2 million USD) will be spent to help farmers in the Mekong Delta province of Tra Vinh promote production models against climate change in 2018 in the framework of the on-going project Adaptation to Climate Change in the Mekong Delta (AMD). According to the project’s provincial coordination board, over 34.2 billion VND (1.5 million USD) of the amount will be the non-refundable aid from the International Fund for Agricultural Development (IFAD) and over 64.7 billion VND (2.8 million USD) is sourced by IFAD loans, while the provincial budget pays more than 23 billion VND (over 1 million USD). Huynh Nghia Tho, Director of the AMD Tra Vinh, said over 97 billion VND (4.2 million USD) out of the total will be used to improve livelihoods and build small-scale infrastructure facilities in adaptation to climate change; support … [Read more...] about Social News 5/2
Social News 26/12
WB funds water supply projects in Red River Delta Three out of water supply projects using loans from the World Bank (WB) have been put into operation in Hanoi (Illustrative image. Source: VNA)Three out of water supply projects using loans from the World Bank (WB) have been put into operation in Hanoi.The waterworks are built in Co Do and Phong Van communes (Ba Vi district), Hiep Thuan and Lien Hiep communes (Phuc Tho district), and Huong Son commune (My Duc district).The remaining projects in Tam Hung and Thanh Thuy communes (Thanh Oai district) Lien Phuong, Van Tao, Ha Hoi, Hong Van and Thu Phu communes (Thuong Tin district), Trung Hoa and Truong Yen communes (Chuong My district) are expected to be put into operation soon.The facilities have also supplied water to more than 22,000 households of communes adjacent to the targeted localities.The Ministry of Agriculture and Rural Development has coordinated with the WB to carry out a programme on clean water and rural sanitation in … [Read more...] about Social News 26/12
Social News 23/12
Vietnam’s air force marks US Christmas bombing of HanoiThe air force of Vietnam held a ceremony on December 21 to mark the 45th anniversary of the victory over the US Christmas bombing of Hanoi in 1972, known in Vietnamese as the Dien Bien Phu Victory in the air.The function is attended by Prime Minister Nguyen Xuan Phuc, Minister of Defence General Ngo Xuan Lich and Secretary of the Hanoi Party Committee Hoang Trung Hai.In a celebratory speech, Lt General Le Huy Vinh, commander of the air force, recalled the force’s resounding triumphs during the war against the US, notably the victory against US Operation Linebacker II in December of 1972.During the 12-day operation, Vietnamese soldiers and people fought heroically and shot down 34 B-52 aircraft and other strategic bombers, forcing the US to return to the negotiation table and sign the Paris agreement on ending the war and restoring peace in Vietnam.The victory provided a significant momentum for Vietnam to step up its … [Read more...] about Social News 23/12