VietNamNet Bridge - Vietnam is economically lagging behind other countries in the region and in the world. There is a big gap in GDP per capita between Vietnam and other countries, which makes it difficult for Vietnam to catch up with them. The core of the doi moi (renovation) in Vietnam is the shift from single-ownership into a multi-ownership economy, where the central planned regime no longer exists. The 1987 Law on Foreign Investment, the 1990 Corporate Law & the Law on Private Enterprises, and the 1999 Enterprise Law have encouraged the development of Vietnam’s private economic sector. One of the revolutionary viewpoints of the 1999 Enterprise Law was that ‘people can do anything that are not prohibited by the laws’, rather than ‘people can only do the things allowed by the laws’, which was one of the major reasons hindering economic development in many decades before. Soon after the Enterprise Law took effect, the then PM Phan Van Khai set … [Read more...] about Why does Vietnam lag behind?
Why does bradley cooper not promote guardians
On December 11 the State Bank of Viet Nam reduced the value of the dong against the US dollar by VND9 from the previous day to VND22,775 (US$1). The selling price of the greenback at the central bank’s transaction offices was also adjusted to VND23,408 though the buying price was kept unchanged at VND22,700. At commercial banks, the price of the greenback did not see strong fluctuations. Vietcombank still kept its selling and buying prices at VND23,265 and 23,355. Similarly, BIDV kept its rates unchanged at VND23,260 and 23,350. Market observers said the central bank has been adjusting its daily reference rate for the dong against the dollar constantly since early December though the adjustments have been minor. Why does the central bank continue to devalue the Vietnamese currency when globally the dollar is weakening after the US and China agreed to halt their trade war for 90 days? For instance, in the Asian dollar market, the dollar index, which tracks the greenback against … [Read more...] about Why SBV keeps dong weak against US dollar
Participants at the signing ceremony The aim is improving VWU’s capacity in promoting development and delivery of financial and non-financial services in response to the needs of local women. Accordingly, JICA and VWU will work together to provide training to financial service providers such as microfinance organisations and commercial banks on the basis of gender-responsive financial inclusion and good practices from other countries. The project also support selected financial service providers to develop new products which respond to the diversified needs of women at different stages of life. Lessons learnt and hands-on experience from the project will be shared with Vietnamese policymakers as references for advocacy in promoting financial inclusion. The technical cooperation project is expected to be implemented from March 2019 to March 2021 . By Vien Nhu … [Read more...] about Japan, VN cooperate to promote financial service for women
The technical cooperation project is expected to be implemented from March 2019 to March 2021 with the aim of improving VWU’s capacity in promoting development and delivery of financial and non-financial services in response to the needs of local women. Participants at the signing ceremony Under the project, JICA and VWU will closely cooperate to provide training activities for financial service providers such as micro-finance organizations and commercial banks, and basic knowledge of gender-responsive financial inclusion and good practices from other countries. At the same time, the project will support some financial service providers for developing new products in response to the diversified needs of women at different stages of life. Lessons learnt and experiences from the project will be shared with Vietnamese policymakers as references for advocacy in promoting financial inclusion. Gender responsive financial inclusion requires the development of services … [Read more...] about Vietnam, Japan cooperate to promote financial service for women
VietNamNet Bridge – Tran Ngoc Hung, chairman of the Viet Nam Construction Association, speaks to Viet Nam News Agency about key reasons for the delays in the renovation of old living quarters in Hanoi. How do you evaluate the national programme to renovate old living quarters? The national programme to renovate old living quarters was launched more than 10 years ago, but its implementation has been very slow. As a consequence, its results have been limited. According to the latest report, some 25 percent of the old living quarters have been described as “very dangerous.” They could collapse at any time and the lives of people living in these building are at risk. What are the main factors preventing the programme from following its approved plan? The Government’s policy is totally right, yet specific guidelines and solutions to implement the policy have not been translated into real life. I should say the implementation of the national programme so far has … [Read more...] about Why does renovation of old living quarters proceed so slowly?
Viet Nam News Dr Đào Ngọc Nghiêm, vice chairman of the Hà Nội Urban Planning and Development Association discussed with Kinh tế & Đô thị (Economic and Urban Affairs) newspaper the future metro station located near the Hoàn Kiếm Lake in the centre of Hà Nội. The underground station on Hà Nội’s urban railway line connecting the district of Bắc Từ Liêm and the city centre was planned to go next to the historic Hoàn Kiếm (Returned Sword) Lake. In your opinion, why does Hà Nội need this? Since 1954, Hà Nội has adjusted and approved its master planning seven times. In 1992, when the 5th master planning was approved, Hà Nội first proposed the urban railway and sent a delegation to European countries to learn from their experiences. Fieldtrips to Germany helped them to recognise a combination of underground and elevated parts was … [Read more...] about Underground railway station will not harm historic Hoàn Kiếm Lake area
Toyota Việt Nam has asked the Vĩnh Phúc Province People’s Committee to lease 9.1 hectares of land in Phúc Yên city to expand its plant and increase its annual capacity from the current 50,000 units to 90,000 by 2023. — Photo vietnamfinance.vn Toyota Việt Nam has asked the Vĩnh Phúc Province People’s Committee to lease 9.1 hectares of land in Phúc Yên city to expand its plant and increase its annual capacity from the current 50,000 units to 90,000 by 2023. It plans to invest around US$40 million. Earlier Hyundai announced it would build a second plant in Việt Nam in the northern province of Ninh Bình. Mitsubishi Motors expects its second factory in the country to start production later this year. The sharp increase in foreign direct investment in the automobile industry has also been indicated in the latest report by the Ministry of Planning and Investment’s Foreign Investment Department. It … [Read more...] about Foreign auto makers’ U-turn: not just not quitting VN, expanding
Participants at the workshop on June 28 to announce the report (Source: VNA) Hanoi (VNA) - Increasing value-added tax (VAT) does not help boost economic growth, but it can increase the poverty rate, said a report announced by the Vietnam Institute for Economic and Policy Research (VEPR) under the University of Economics and Business - Vietnam National University in Hanoi on June 28. According to the report “Impacts of value-added tax on Vietnam’s economy and household welfare”, VAT plays an important role in Vietnam's economy. Under a draft law proposed recently by the Ministry of Finance (MoF), the VAT rate will be doubled to 20 percent. Ass. Prof., PhD. Nguyen Duc Thanh, Director of VEPR, said raising taxes is always a controversial issue in every country worldwide. Vietnam is no different. The report points to a number of findings that contribute more viewpoints to this debate, he said. Thanh said the report predicts the impact of VAT increase on household … [Read more...] about VAT increase not promote economic growth: report
To date, Viet Nam has more than 20,000 cooperatives, 93,266 cooperative groups and 59 cooperative unions in all sectors of agriculture, industry, commerce, service, construction, transport and credit. — Photo thoibaotaichinhvietnam.vn Cooperatives play an important role in improving the capacity and position of the economy. However, statistics of the Viet Nam Cooperative Alliance (VCA) show that only some 2 per cent of cooperatives have access to loans, while most still manage by themselves, VCA chairman Nguyen Ngoc Bao said. According to a report of VCA, cooperative economy and cooperatives have rapidly developed in both quantity and quality, with turnover and profits increasing each year. However, many Vietnamese cooperatives still have internal problems, especially in the new period with the national start-up movement and the application of high technologies in agricultural development launched by the government. To date, Viet Nam has more than 20,000 cooperatives, 93,266 … [Read more...] about Only 2% cooperatives have access to loans
Professor Nguyễn Ngọc Kính, former director of the Department of Science and Technology and Product Quality under the Ministry of Agricultural and Rural Development (MARD), speaks to Khoa học & Đời sống (Science and Life) on why organic farming should not be applied to mass agricultural production in Việt Nam. Lately we have been talking about organic farming as the salvation for Việt Nam’s agricultural sector. As a scientist, what do you think about that? I support the development of organic farming in Việt Nam, but there are many misunderstandings and misapprehensions about it. People consider it to be an agricultural system and start using words like “high-tech agriculture”, “organic agriculture”. But in fact “high-tech” and “organic” are only the methods of production and do not represent our entire agricultural sector. So what kind of agriculture are we … [Read more...] about Organic farming is not for mass production: expert