Vietnamese government

Construction company Becamex IDC Corp has been cautious about this year’s business targets. Photo batdongsan.com.vn   Compiled by Thiên Lý Construction company Becamex IDC Corp has been cautious about this year’s business targets. Its consolidated turnover target is only VNĐ1.226 trillion (US$53.3 million), or 96 per cent of last year’s figure, and after-tax profit target is VNĐ252 billion, only 8 per cent higher than last year. In a document already sent to the company’s shareholders ahead of the annual general meeting, its general director, Đỗ Quang Ngôn, explained the reasons for setting such moderate growth targets. He said the real estate market is facing an imbalance between supply and demand in certain segments, and credit to the property sector is drying up. Externally, the global economy is expected to see a lot of volatility this year and likely to have a strong impact on the Vietnamese economy, he said … [Read more...] about Companies follow Government lead, set cautious growth targets

The activities of Chinese vessels in Vietnam's waters have seriously violated international law and gone against agreements reached between senior leaders of the two countries. President of the Vietnam Society of International Law (VSIL) Dr. Nguyen Ba Son President of the Vietnam Society of International Law (VSIL) Dr. Nguyen Ba Son has sent an open letter to the President of Chinese Society of International Law (CSIL) Prof. Huang Jin. The letter stated that the activities of the HD8 and other Chinese vessels in Vietnam’s waters seriously violated international law, especially the 1982 UN Convention on the Law of the Sea (UNCLOS), and was contrary to agreements between the leaders of the two countries, negatively affecting the traditional friendship between the Vietnamese and Chinese people. Dr. Nguyen Ba Son wrote his open letter to his Chinese counterpart: “I will not talk about the sovereignty issue over Hoang Sa (Paracel Islands) and Truong Sa (Spratly Islands), … [Read more...] about Operations of Chinese vessels are against agreements between Chinese and Vietnamese leaders

Permanent Deputy Prime Minister Trương Hoà Bình delivered a keynote speech at a high-level session of the 10th Regional Conference of the Anti-Corruption Initiative for Asia-Pacific, themed “Preventing and Combating Corruption in Infrastructure Projects in Asia-Pacific”, in Hà Nội on Friday. — VNA/VNS Photo HÀ NỘI — Deputy Prime Minister Trương Hoà Bình has asked the Government Inspectorate to learn from international experience in combating graft, especially in infrastructure projects, in order to ensure the country's sustainable development. He made the remark on Friday at the closing ceremony of the four-day 10th Regional Conference of the Anti-Corruption Initiative for Asia-Pacific, which was started in 1999 by the Asian Development Bank (ADB) and the Organisation for Economic Co-operation and Development (OECD), and was hosted this year by the Government of Việt Nam … [Read more...] about Corruption-free infrastructure key to sustainable development: Deputy PM

The State Bank of Viet Nam (SBV) has instructed local banks to better control risks in corporate bond investment, especially bonds of real estate firms. According to the SBV, after reviewing the business performance of banks in the first half of this year, it saw the corporate bond investment of some banks facing risks as the ratio of such investment was high and is continuing to rise. Notably, the amount of bond investment in construction and real estate firms at some banks accounted for a large proportion of the banks’ total assets while the real estate market has not yet recovered firmly and the business performance of realty firms still faces many difficulties. In addition, some banks also invested in bonds with other purposes, such as to restructure debts of issuers, which have high risks. In order to ensure the safety of the banking system and limit risks in corporate bond investment, under the direction, SBV required banks to review their internal regulations related to … [Read more...] about VN banks warned about risks of real estate corporate bonds

Deputy PM Vuong Dinh Hue, head of the Steering Committee for international economic integration, will pay official visits to the U.S., Brazil and Chile from June 25-July 6.  Deputy PM Vuong Dinh Hue He will be accompanied by Minister of Transport Nguyen Van The, deputy head of the Central Economic Commission Tran Sy Thanh, Deputy Minister of Foreign Affairs Ha Kim Ngoc, Deputy Minister of Planning and Investment Vu Dai Thang, Deputy Minister of Industry and Trade Do Thang Hai, Deputy Minister of Finance Huynh Quang Hai, Deputy Minister of Agriculture and Rural Development Ha Cong Tuan, Deputy Governor of the State Bank of Viet Nam Nguyen Thi Hong and Vice Chairman of the Government Office Nguyen Sy Hiep. The Deputy PM’s official visit to the U.S. from June 25-27 aims to maintain and enhance the two countries’ diplomatic relations, affirming Viet Nam’s wish to accelerate cooperation with the U.S. within the Comprehensive Partnership, and seeking ways … [Read more...] about DPM Hue to visit U.S., Brazil, Chile next week