In 2019, faced with difficulties and challenges, the industry and trade sector needs to continue accelerating reforms in order to surpass all targets set by the National Assembly, thus creating a long-term and firm foundation for national economic development. At the event This remark was made by Prime Minister Nguyen Xuan Phuc at a conference held by Ministry of Industry and Trade (MOIT) to outline its tasks for 2019, on January 17. PM Nguyen Xuan Phuc hailed its intensive administrative procedure reform with 72.1 percent of business conditions being cut down, which, he said, has helped facilitate production and the development of enterprises. However, he pointed out several shortcomings facing the sector, including the slow implementation of several plans and the asynchronous revision of some others that have knock-on effects for the country’s general development. The industrial sector has yet to meet national economic development requirements as there is currently no … [Read more...] about PM: Industry and trade sector must accelerate reform process
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PM: industry-trade sector must speed up reform process
Prime Minister Nguyen Xuan Phuc (third, from right) speaks at the event (Photo: VNA) Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc on January 17 urged the industry and trade sector to continue speeding up reforms so as to surpass all targets set by the National Assembly, thus creating a long-term and firm foundation for national economic development. Attending the sector’s conference to outline its tasks for 2019, PM Phuc hailed its intensive administrative procedure reform with 72.1 percent business conditions cut down, which, he said, has helped facilitate production and the development of enterprises. He also appreciated the Ministry of Industry and Trade’s efforts in contributing to the nation’s growth. However, he pointed out several shortcomings facing the sector, including the slow implementation of several plans and the asynchronous revision of some others that have knock-on effects for the country’s general development. The industrial sector … [Read more...] about PM: industry-trade sector must speed up reform process
PM: Industry 4.0 requires Government to change itself
PM Nguyen Xuan Phuc and delegates to the Viet Nam ICT Summit 2018. Photo: VGP The cabinet leader stated that the Fourth Industrial Revolution (Industry 4.0) has opened up a new era in the development process of the mankind, with the digital age expected to have strong impacts on all activities of the Government and the entire society. The Government has assigned its Office to compile the Government’s resolution on major tasks and solutions in e-Government development during the period of 2018-2020, with a vision towards 2025, he said. PM Nguyen Xuan Phuc visits technological products displayed at the Viet Nam ICT Summit 2018. Photo: VGP The PM asked ministries, agencies and localities to continue to improve the quality of legal institutions and policies, aiming to create a foundation for the building of the e-Government, including strengthening information technology (IT) application, data connection and sharing, protection of personal … [Read more...] about PM: Industry 4.0 requires Government to change itself
Deputy PM requests breakthrough in natural resources management
Deputy Prime Minister Trinh Dinh Dung speaks at the meeting of the Ministry of Natural Resources and Environment on January 8 (Photo: VNA)Hanoi (VNA) – Deputy PrimeMinister Trinh Dinh Dung asked the Ministry of Natural Resources andEnvironment to make breakthrough in management and use of land resources in2018 at the ministry’s conference in Hanoi on January 8. In his speech, he lauded the sector for itsassistance for the government in amending several policies and laws on naturalresources and environment, especially on land and environment protection. Planningand reserve assessment of natural resources and hydro-meteorological forecasthave also improved. The ministry proposed the government issueResolution No.120/NQ-CP detailing strategic and long-term solutions for thesustainable development of the Mekong Delta amid climate change, he said. He asked the sector to strengthenprotection and development of coastal protective, riverhead and special-purposeforests … [Read more...] about Deputy PM requests breakthrough in natural resources management
Financial sector asked to keep abreast with Industry 4.0
In his speech, PM Phuc acknowledged the financial sector’s efforts and also pointed out its shortcomings. Fast-changing financial policies, especially tax policies, have affected people and businesses, showing that policy making is yet to keep up with the socio-economic life. Tax and financial policies must keep pace with the country’s rapid changes and stay stable for a long term, about five to ten years, he said, noting that focus is still on raising tax rates in lieu of expanding the tax base to ensure State budget collection.The government leader stressed the necessity of stay updated with the development of Industry 4.0 seen in various economic sectors like e-commerce, online services and online games to expand the tax base. The sector's staff were also asked to raise their sense of responsibility towards the society, people and businesses so as to eradicate lubrication payments in the sector. According to a report released at the event, almost … [Read more...] about Financial sector asked to keep abreast with Industry 4.0
Financial sector told to stay updated with Industry 4.0 to expand tax base
PM Nguyen Xuan Phuc addressing the teleconference He attended the sector’s teleconference on January 8 with the 63 provinces and cities. The event aimed to review the sector’s performance in 2017 and set tasks for this year. A report at the event read that by the end of December 31, 2017, total state budget balancing revenues are estimated at more than 1.283 quadrillion VND (56.3 billion USD), about 71 trillion VND (3.1 billion USD) or 5.9 percent higher than the estimates. Nearly 624,000 or 100 percent of businesses had used online tax declaration services while almost 98 percent of them had registered e-tax payment by the end of last year. Addressing the meeting, PM Phuc recognized the financial sector’s efforts while also pointing out its shortcomings. He said financial policies, especially tax policies, have changed too fast and too much, affecting people and businesses. Such vagaries show that the making of policies has yet to keep up with the … [Read more...] about Financial sector told to stay updated with Industry 4.0 to expand tax base
Deputy PM approves VNPT restructuring plan
Deputy Prime Minister Vuong Dinh Hue signs Decision approving plan to restructure Vietnam Posts and Telecommunications Group in the 2018-2020 period. Deputy Prime Minister Vuong Dinh Hue has signed Decision No. 2129/QD-TTg approving the plan to restructure the Vietnam Posts and Telecommunications Group (VNPT) in the 2018-2020 period, to build and develop VNPT into a State economic group and the leading digital service provider in Vietnam and a digital trading center in East Asia and Asia.VNPT targets average revenue growth of 6.5 per cent each year by 2020 and average profit growth of 10.8 per cent per year, and average revenue growth of 7.7 per cent per year in the 2021-2025 period and average profit growth of 11 per cent per year. By 2022, its return on equity is to be equal that of other enterprises in the same industry.Under the restructuring plan, VNPT’s main business lines are telecommunications, information technology, multimedia and other digital products and services, … [Read more...] about Deputy PM approves VNPT restructuring plan
Deputy PM wants Samsung support Vietnamese part suppliers
HÀ NỘI — The Vietnamese Government expects Samsung to further support human resource training and technology transfer in the country, helping Vietnamese parts suppliers take part in value chains and become suppliers of materials and parts for Samsung, said Deputy Prime Minister Trịnh Đình Dũng. Speaking at a meeting with president of Samsung Việt Nam Complex Shim Won Hwan in Hà Nội yesterday, Dũng said he hoped Samsung and South Korean investors would continue increasing output and export value, generating jobs and boosting people’s living standards. Shim Won Hwan said there were 160,000 people working for Samsung factories in Việt Nam. The firm had carried out development policies and ensured social security. Along with that, he said enterprises are also promoting other fields such as household electronics, electronic parts and accessories. Up to now, 20 Vietnamese enterprises have become level-1 suppliers … [Read more...] about Deputy PM wants Samsung support Vietnamese part suppliers
Deputy PM calls for Samsung’s support in training, developing auxiliary industry
Deputy Prime Minister Trinh Dinh Dung (R) shakes hands with General Director of Samsung Vietnam Complex, Shim Won Hwan (Photo: VGP/Nhat Bac) Mr. Dung said the good relations have demonstrated the trust of high-ranking leaders of the two countries and are reflected in effective cooperation between enterprises from both sides. He called on Samsung to continue providing practical support in training and technology transfer to enable Vietnamese auxiliary industry firms to join Samsung’s value chains. Mr Hwan congratulated the Vietnamese government for achieving growth targets and stabilizing the macro-economy, saying that this is a positive sign for Vietnam and creates opportunities for foreign investors including the Samsung Vietnam Complex. … [Read more...] about Deputy PM calls for Samsung’s support in training, developing auxiliary industry
PM assigns socio-economic development targets to ministries
The Ministry of Agriculture and Rural Development was asked to achieve nearly 41.6 percent forest coverage. Meanwhile, the Ministry of Industry and Trade must record an 8-10 percent export increase. For the Health Ministry, there should be 26 beds (exclusive of those in communal medical stations) per 10,000 people and 88.5 percent of the population in the health insurance scheme.The Ministry of Labour, Invalids and Social Affairs was assigned to reduce multi-dimensional poverty by 1-1.5 percent and the rate of poor households in poor districts by 4 percent. It was also told to keep the rate of unemployment in urban areas below 4 percent and push the rate of skilled workforce to 58-60 percent. The PM authorised the Minister of Planning and Investment (MoPI) to assign socio-economic development targets regarding information and communications, education-training to ministries, ministry-level and government agencies, as well as business targets for State-owned groups and … [Read more...] about PM assigns socio-economic development targets to ministries