VietNamNet Bridge – Vietnam plans to cut 97 trillion dong worth of public investments in 2011, which is equal to 10 percent of the total investment capital of the whole society, in an effort to help curb inflation. According to the latest report by the Ministry of Planning and Investment (MPI) to the Prime Minister, 96,888.3 billion dong worth of public investments will be cut by ministries, branches and general corporations in order to help reduce the total demand of the national economy. Of this amount, 50 trillion dong worth of investments will be cut because the disbursement period for the 2011 plan will not be extended, while the capital for the 2012 investment plan will not be advanced. Also, 32 percent of the capital from government bonds and 10 percent of the state’s investment credit will be cut. Vietnam plans to cut 5128 billion dong worth of investment from the state budget, 2547.5 billion dong worth of government bonds and 39,212.2 … [Read more...] about Vietnam to cut VND97 trillion worth of public investments
Public investment companies
How to Invest for the Future? Nowadays, sustainable development is not confined to the scope of country or a big corporation. This concern has spread all over the world and this is also the concern of Vietnamese companies in general and Vietnamese businesspeople in particular. Especially, in the context of global competition, sustainable development is seen as an investment for the future of a company. Mr Tran Phu Son, Deputy General Manager of Ernst & Young Vietnam, said sustainable development and corporate social responsibility (CSR) are two integral activities and they are mutually complemented. Simply looking, when a company operates only for profit and compensates social expenses by means of tax payment and disregard CSR in each activity, it is certain that social expenses in consideration of environmental pollution it causes are much greater than interests it generates. As consumers increasingly understand impacts [of its operations] on environment and public health, … [Read more...] about How to Invest for the Future?
Nguyen Hieu, chief executive of a Hanoi construction company, last year was turned down by several banks for a $800,000 loan for a project the company had won and had already invested nearly half a million dollars. "It’s very difficult for small, private companies like us to get bank lending," said Hieu, whose company employs a few dozen. "They prefer to lend to big businesses and state-owned companies. We’ve had to trim down operations due to a lack of capital." Vietnam’s ruling Communist Party says it recognizes the challenges companies like Hieu’s face and is setting a stronger tone to support private businesses over the next five years, as frustration grows over the slow reforms at state companies. The nation is set to be one of the fastest-growing economies in the world, yet local firms have struggled to benefit while foreign manufacturers reap the export boom. In his opening address January 21 at the most important Communist Party conclave that occurs … [Read more...] about Vietnam’s communist party leaders urge policies to support private sector, challenge state companies
VietNamNet Bridge – Secretary of the Ho Chi Minh City Party Committee Dinh La Thang on February 15 instructed to set up a hotline so that residents can directly contact him, in an effort to listen to genuine opinions and confidential suggestions for the city’s development. “HCMC leaders are willing to receive opinions and talk to local residents about things related to the city’s development and their lives,” said Mr. Thang at a meeting by the city Party Standing Committee on works during the last Tet holidays and missions this year. He proposed the Party Committee’s Propaganda and Education Department and related agencies to create the most advantageous conditions for the press, to convey information about activities of the Party and People's Committees so that they can supervise the city’s leaders. Relevant agencies must provide more transparent and public information to the press and citizens, he instructed. Mr. Thang asked public … [Read more...] about HCM City sets up hotline for public
For the past 30 years since the Law on Foreign Investment took effect, Vietnam has attracted 24,580 foreign direct investment (FDI) projects with a total registered capital of US$316.91 billion. A recent report showed that FDI companies have played an increasingly important part in Vietnam’s economic development for the past 30 years. Foreign-invested companies account for over 70 per cent of the country’s export value and over 50 per cent of industrial production value. FDI - integral and important part in Vietnam economic development The FDI sector has invested in 19 out of 21 sectors and operated in 63 provinces and cities across the country. Investors from 128 countries and territories have invested in Vietnam. Over the past 30 years, FDI has brought positive values to the economy. Its contributions are expressed with very specific figures such as tax value. It paid US$5.43 billion in 2014, US$5.8 billion in 2015 (up 6.8 per cent) and US$7.1 billion in 2016 … [Read more...] about Vietnam Investment and Business Environment: Open, Transparent in Line with World Standards