Former Prime Minister Phan Van Khai was commemorated in South Africa. (Source: VNA) Hanoi (VNA) – Embassies and representative offices of Vietnam in foreign countries have held ceremonies to pay tribute to former Politburo member and former Prime Minister Phan Van Khai, who passed away on March 17 at the age of 85. At a memorial service in the US on March 20, Vietnamese Ambassador Pham Quang Vinh highlighted PM Khai’s contributions to the Vietnam-US relationship through his visit to the US in June 2005. This is the first visit to the US by a senior Vietnamese leader, he said, adding that it took place on the occasion of the tenth anniversary of bilateral ties and 20 years of Vietnam’s Doi Moi (Renewal) cause. During the trip, the former leader emphasised leaving the past behind and looking towards the future in Vietnam-US relations, and painted the picture of a Vietnam on the path of renewal, and regional and international integration, Vinh said. … [Read more...] about Ceremonies held abroad to commemorate late PM Phan Van Khai
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$3.2 billion Vung Ro refinery and petrochemical complex revoked
$3.2 billion Vung Ro Refinery and petrochemical complex The Phu Yen People’s Committee has asked the Management Board of Phu Yen Economic Zone in collaboration with the province’s Department of Planning and Investment to consider the decision to revoke the project invested by Vung Ro Petroleum Company Limited (VRP), the developer of the Vung Ro project. The Vung Ro project was granted an investment certificate in 2008, with a total investment capital sum of nearly $3.2 billion and annual capacity of eight million tonnes of crude oil. The refinery is going to be constructed on an area of 538 hectares. Of the total, 404ha will be used for the construction of the refinery, and 134ha, excluding the areas of sea encroachment, will be used for the construction of Bai Goc Seaport. Besides, this project is allowed to use 500-1,300ha of sea surface area. In 2014, VRP held the ground-breaking ceremony for the refinery. The complex was slated to start commercial operations by 2016 … [Read more...] about $3.2 billion Vung Ro refinery and petrochemical complex revoked
Meeting talks sustainable development of agricultural material areas
World Bank Country Director for Vietnam Ousmane Dione addresses the meeting in Hanoi on December 5 (Photo: VNA) Hanoi (VNA) – The Ministry of Agriculture and Rural Development (MARD) held a meeting in Hanoi on December 5 to discuss ways to sustainably develop raw material areas and improve processing capacity and market access for agro-products of Vietnam. MARD Minister Nguyen Xuan Cuong said though the agricultural sector of Vietnam has obtained major achievements, it cannot rest on its laurels due to three challenges, which are the small production scale, climate change impacts and economic integration into the world. He admitted that the country has good agricultural production capacity but the production remains ineffective due to the small scale. Besides, deep processing has just developed for only some commodities like shrimp, tra fish and milk to create products with higher added value. Most of other agricultural products have very short value chains. Vietnamese … [Read more...] about Meeting talks sustainable development of agricultural material areas
Foreign groups grasp more aviation control
Buoyed by the upcoming increase in foreign ownership limit, international investors will be offered expanded opportunities to explore the lucrative Vietnamese aviation industry. Newer airlines such as Bamboo continue to pop up in Vietnam However, concerns have been raised that the amendments will not fully meet the expectations of interested parties, preventing aviation in the country from truly thriving. The government has agreed to raise the foreign ownership limit (FOL) in Vietnamese air carriage enterprises to 34 per cent from the current 30 per cent from the start of next year, according to Decree No.89/2019/ND-CP promulgated on November 15, amending some regulations of 2016’s Decree No.92/2016/ND-CP, covering the conditional business lines in the aviation sector, and Decree No.30/2013/ND-CP from 2013 on the air carriage business and common aviation activities. Decree 89 will take effect on January 1, 2020. Industry insiders say that the changes are … [Read more...] about Foreign groups grasp more aviation control
E-commerce set for strong 2018
Logistics is expected to be a game changer for the Vietnamese e-commerce market in 2018. — Photo vietnamnet.vnViet Nam News HCM CITY — The e-commerce market has taken off in Việt Nam thanks to booming internet usage and smartphone ownership, along with massive investments from key retail players, local media reported. Việt Nam is one of the world’s fastest growing e-commerce countries, according to Lại Việt Anh, deputy director of Việt Nam E-commerce and Information Technology Agency (Vecita) under the Ministry of Industry and Trade. “The country’s e-commerce is growing 35 per cent per year, 2.5 times faster than Japan,” Anh said. The number of Vietnamese businesses capable of taking advantage of the internet and technology has grown 2.1 times faster than those with less use of the internet. Small- and medium-sized enterprises (SMEs) that spend more than 30 per cent of their budget on technological … [Read more...] about E-commerce set for strong 2018