Wind Of Change In The Air Reported by Tu Giang Nguyen Dinh Cung, vice director of the Central Institute for Economic ManagementVietnam’s policymakers have designed an economic restructuring plan aimed to tackle the current problems of the economy. In the following interview, Nguyen Dinh Cung, vice director of the Central Institute for Economic Management, who is the lead author of the blueprint, elaborated on his work. Q: What are the main goals of the economic restructuring? A: The main target is to redistribute resources in the entire economy to vie for an economic structure which achieves higher growth and is more competitive as well as more sustainable. In such a view, we have redefined the role of the State, the market and the corporate sector plus other stakeholders. It should be made clear that the State will only build institutions and policies so as to help the market work more efficiently, which will pave the way for economic restructuring. The State won’t … [Read more...]
Parliamentary elections: winds of change in Iran? Current Affairs
Tuesday, March 01, 2016 - 16:42:12 (VOVworld) – Preliminary results of the February 26 parliamentary elections in Iran were leaning in favor of reformist and moderate forces in both the parliament and the Assembly of Experts. Analysts are sensing winds of change in Iran. With 90% of the votes counted, radical and moderate candidates were winning all 30 seats in the Tehran constituency. Reformists have been increasing their presence in parliament since 2004 and this election could reshape Iran’s future. Future directions The election is being considered a vote of confidence for the reformist government of President Hassan Rouhani and a measure of Iranians’ satisfaction with the recent nuclear deal, social changes and the changing balance of power in Iran. It will also affect the future direction of Iran’s external relations, particularly with the US, the West, Saudi Arabia, and Israel. With decades-long economic and diplomatic sanctions on Iran lifted, … [Read more...]
Science, technology seen as motive force of development
The 90 meter jack-up drilling rig, one of the scientific and technological achievements of the industry and trade sectorIn terms of scientific and technological research and development, in the 2011-2013 period, the groups and corporations under MOIT actively conducted scientific and technological research at state, ministry and group-corporation levels. The results of the research provided many foundations to for each sector and business to work out specific strategies and development plans and made a positive contribution to designing policies of the state. Many research projects on new products brought high economic efficiency and contributed to production and business activities such as the scientific and technological works “Searching, detecting and efficiently exploiting oil in Granite foundation stone in the Mekong Delta, Vietnam continental shelf; the research on the 90 meter jack-up drilling rig; the research on new varieties of cotton with high yield, … [Read more...]
HCMC, driving force of economic growth
In 2014, Ho Chi Minh City contributed 21.7 percent to Vietnam’s GDP High and sustainable growth From 1976-1985, the city’s gross domestic product (GDP) grew an average 2.7 percent annually, but from 1991-2010, Ho Chi Minh City was one of the few localities to achieve a double-digit growth throughout these two decades. Since 2011, the city’s economy has grown approximately 10 percent per year - 1.6 times higher than the average economic growth of the whole country. In 2014, the city contributed 21.7 percent to Vietnam’s GDP and 30.3 percent to the total revenue of the state budget; and city per-capita income reached US$5,131, 2.5 times higher than the national figure. The city has achieved positive results in curbing and controlling inflation. From 2001-2014, despite price changes, the consumer price index (CPI) in the city was lower than the average CPI for the whole country. These results were achieved thanks greatly to the market stabilization program. … [Read more...]
Vietnamese theatre in 2016: good signal of changes
VietNamNet Bridge – Trying to attract more audiences, experimenting with new plays and genres, applying many creations in technology and arts in plays, and engaging with foreign theatres, are among orientations that Vietnamese theatrical units implemented in 2016, creating strong signals of the benefits of international cooperation. One of these pioneering and proactive theatres that found ways to touch the audience's hearts was the Youth Theatre. In 2016, it enhanced co-operation with foreign theatres, including Japan and Republic of Korea (RoK). In addition to sending its actors, actresses and technicians to attend training and refresher courses abroad, the theatre and its partners in Japan and the RoK jointly arranged plays in three different genres of drama, music and experimental theatre. Director of the Youth Theatre Truong Nhuan said that through co-operative projects, the unit had chances to approach new technical and technological achievements and new stage trends as … [Read more...]
Private Sector – Driving Force of Economy
Private Sector - Driving Force of Economy To create a driving force for the private economic sector to develop, it is vital to carry out consistent solutions to improve the investment and business environment for enterprises, mainly for private businesses enterprises, including SMEs. Such solutions range from administrative procedure reform in tax, customs, social security and land-related measures, construction permits, investment procedures, access to loans and business establishment, among others. This was confirmed by Dr Vu Dinh Hoe, Deputy Editor-in-Chief of Vietnam Economic Times in the Workshop on "Motivations for private economic development” which was held in Hanoi by the Vietnam Young Entrepreneurs Association in collaboration with Vietnam Economic Times. Business is a vanguard on integration front He said that Vietnamese businesses, most of which are private, have greatly contributed to the nation’s economic development in 2011-2015. The private sector has … [Read more...]
Dung Quat EZ, Quang Ngai IZs: Driving Force of Industrialisation and Modernisation
Dung Quat EZ, Quang Ngai IZs: Driving Force of Industrialisation and Modernisation With their high investment attraction results and important contributions to export growth and economic growth, Dung Quat Economic Zone and Quang Ngai province-based industrial parks have quickly become driving forces for accelerating the province’s industrialisation and modernisation process. The following interview with Mr Dam Minh Le, Deputy Director of Dung Quat Economic Zone and Quang Ngai Industrial Zones Authority, will explore the new face and the new stature that economic and economic zones have brought to Quang Ngai province, particularly Dung Quat Economic Zone. Duy Anh reports. It is clear that economic and industrial zones have brought substantial changes to Quang Ngai, especially Dung Quat Economic Zone. Could you please tell us more about these changes? After many years of construction and development, Dung Quat Economic Zone is the first economic zone in the country to take the … [Read more...]
Dak Lak Province – Driving Force of Central Highlands Economy
Dak Lak Province - Driving Force of Central Highlands Economy Visitors can easily notice the new changes in the Highlands: Gone forever the image of a poor and backward province and replaced by a rich and beautiful land. The achievement recorded since its establishment has confirmed the synergy of the province. Vietnam Business Forum reporter Lam Xung interviewed Mr. Lu Ngoc Cu, Chairman of Dak Lak People’s Committee on the success story of the province. How do you evaluate socio-economic development of Dak Lak in 2010? In view of difficult conditions of all provinces in Vietnam, the achievement of Dak Lak in socio-economic development is most encouraging. The province could maintained high economic growth rates with production value of VND12,813 billion (of 1994 price), 12.2 % more than 2009; budget revenue of VND3,058 billion exceeding the plan; increased investment for development together with progresses in capital mobilization and disbursement. The service sector has … [Read more...]
Mai Son Industrial Zone: Driving Force of Local Economy
Mai Son Industrial Zone: Driving Force of Local Economy The Mai Son Industrial Zone Project was approved by the Prime Minister in Document 1909/ CP-CN dated 16 December, 2004 and Document 1604/TTg-CN dated 10th Oct, 2006. And on 8th Nov, 2006, Son La People’s Committee issued Decision 2732/ QD-UBND for approval of investment projects on Mai Son Industrial Zone, whose investor is the management board of industrial parks of the province. The project was implemented with the aim of forming multi-sector industrial parks with clean, environment-friendly technology in order to meet province's needs for socioeconomic development, creating products for construction of Son La hydropower plant, meeting domestic demands and export; transforming production structure and labour structure, arranging workforce appropriate with their abilities, local conditions; creating jobs for people resettled for Son La hydropower plant project and the focused production business models in Mai Son … [Read more...]
Driving Force of the Property Market in 2014
Driving Force of the Property Market in 2014 The real estate market in 2013 ended with a bass note. Particularly, the market went down, while a series of fluctuations made some businesses close or transfer their projects. The majority of forecasts both at home and abroad note that the possibility for a real estate market recovery in Vietnam in 2014 is quite good. Three economic factors having a strong impact on market resilience include economic growth, external resources and the driving force of low-income housing. Macroeconomic growth adding force The economy is gradually regaining stability and growth, which will have a huge impact on the real estate market. The Government's efforts during the past time have resulted in positive effects as inflation continues to remain low, interest rates remain unchanged, which is the basis for real estate experts' prediction that the market will start to recover from the third quarter of 2014, accordingly the economy will receive a direct as … [Read more...]