The Hanoitimes - The World Bank (WB) Board of Executive Directors on August 8 approved a loan of US$500 million to the Vietnamese Government to improve the capacity, efficiency and reliability of electricity transmission. The project will finance transmission lines and substations at voltage levels of 220 and 500 kilovolts to increase the transport capacity and reliability of the electric grid. It will finance about 15% of Vietnam’s transmission network growth from 2015 to 2020, targeting key investment needs in major economic development areas where transmission overloads are already present or will happen in the very short term. In addition, the project will support Smart Grid technologies for monitoring, control, and protection equipment to improve reliability and reduce electricity outages. At the same time, the project will also help build the capacity of the National Power Transmission Company by supporting its operational and financial independence, in line with the … [Read more...] about Vietnamese Government to improve electricity transmission
Vietnamese government
Vietnamese government seeks legislative nod to issue $3bn in sovereign bonds in 2017
The government is seeking the permission of the law-making National Assembly to issue US$3 billion in sovereign bonds in 2017, local media reported. The government is seeking the permission of the law-making National Assembly to issue US$3 billion in sovereign bonds in 2017, local media reported. The bid to secure the approval from the legislature was announced by Minister of Finance Dinh Tien Dung at a National Assembly Standing Committee meeting on Monday. The future bond offering aims at restructuring domestic debts incurred during 2015-16, following a successful $1 billion sovereign bond issuance last year. In November 2014, Vietnam sold $1 billion worth of sovereign bonds with a ten-year maturity term and a yield of 4.8 percent – the first in nearly five years and the third in its history – in the U.S., according to the Ministry of Finance. The terms of the proposed new bonds will be longer, from 10 to 30 years, and the interest rates will be set depending on … [Read more...] about Vietnamese government seeks legislative nod to issue $3bn in sovereign bonds in 2017
Vietnamese government works to ensure social equality for ethnic minority people
A conference on the rights of ethnic minority groups in Vietnam’s northwestern region took place in Yen Bai province on Thursday. Delegates discussed law and policy for ethnic minority groups, major achievements in ensuring their human rights, and the human rights situation of ethnic minority communities in European and ASEAN countries. Ha Hung, Deputy Chairman of the Committee for Ethnic Minorities, said: “The Vietnamese government has implemented various measures and national target programs to ensure social equality for ethnic minority people. The Northwestern region has the most ethnic minority groups in Vietnam. The local authorities have gained important achievements in implementing the government’s ethnic minority policies, especially in poverty reduction, socio-economic development, and human rights”. The conference was part of the government’s cooperative program with the EU Delegation in Vietnam. … [Read more...] about Vietnamese government works to ensure social equality for ethnic minority people
Vietnamese government will support people if electricity rate increases
(VOVworld) – The Minister-Chairman of the Government Office says that the Government will design support policies for poor and low-income people while managing the price of electricity under the market mechanism. At the monthly Government press conference for July in Hanoi on July 30, Vu Duc Dam said if a rate rise occurs immediately, it will affect the competitiveness of the national economy. This is why any adjustment of electricity prices has to be made in accordance with a roadmap. The Electricity of Vietnam needs a specific plan for communications, explanations, and the gathering of public opinions before making adjustments. Mr. Dam said “we believe that if the public is given enough information about Party and government policies, they will respond positively. We should base electricity prices on market prices with support mechanisms for poor and low-income people. The government should also apply financial and tax incentives to encourage businesses to invest more … [Read more...] about Vietnamese government will support people if electricity rate increases
Vietnamese government cares about the elderly
(VOVworld) – The Vietnamese Party and state will pay more attention to the elderly, said Deputy Prime Minister Nguyen Xuan Phuc while receiving a delegation of Tam Ki City’s Elderly Association from Quang Nam province on Sunday in Hanoi. He added that taking care of the elderly is a fine cultural tradition of Vietnam, noting that the Party and State will build more nursing homes and offer policies to better support the elderly. He acknowledged recommendations made by the delegation and said he hopes the delegates will continue to contribute to their family and homeland. … [Read more...] about Vietnamese government cares about the elderly