Drug firms spend huge sums to drive growth
Drug firms spend huge sums to drive growthAfter making an entry into the automobile manufacturing industry, Vingroup, the country’s leading property company, has set its sights on the US$5.3 billion pharmaceutical sector. In March Vietnam Dairy Products Joint Stock Company (Vinamilk) and Hau Giang Pharmaceutical Joint Stock Company (DHG Pharma) had signed a deal to collaborate in pharmaceutical research and development. Some smaller joint stock banks are also paying large dividends. Saigon Commercial Joint Stock Bank has also made its shareholders be happy by deciding to use VNĐ600 billion from its profits to issue bonus shares. Besides these State-owned banks, many other joint stock lenders have also reported surpassing their targets for 2017.
Source:VietNamNet News
April 23, 2018 06:33 UTC
Climate change: Michael Bloomberg pledges $4.5m for Paris deal
Climate change: Michael Bloomberg pledges $4.5m for Paris dealFormer New York City Mayor Michael Bloomberg says he will pay $4.5m (£3.2m) to cover some of the lapsed US commitment to the Paris climate accord. The money promised by Mr Bloomberg does not aim to cover this, but the US contribution to the UN's climate change secretariat. Mr Bloomberg said he hoped that by next year Mr Trump will have reconsidered his position on the deal. What is in the Paris climate agreement? The deal unites all the world's nations in a single agreement on tackling climate change for the first time in history.
Source:VietNamNet News
April 23, 2018 06:22 UTC
VN’s waterway logistics in deep trouble
VN’s waterway logistics in deep troubleViet Nam’s maritime and inland waterway transport continue to suffer from the lack of sustainable inland ports and planning for container depots. He acknowledged that Viet Nam’s inland waterway infrastructure in all 63 provinces and cities is still undeveloped, with only 15 planned provincial inland waterway systems. Mai Le Loi, Vinalines Logistics Vietnam Jsc’s General Director, mentioned inefficient, deteriorating and non-uniform seaports systems and equipment as chief concerns for the national logistics industry. Loi stressed the waterway shipping sector’s inability to connect with land routes as another major weakness. Quan Dinh Gang, Director of Vinacam Transport Jsc, said that overlapping waterway management authority has also undermined foreign investment in waterway infrastructure.
Source:VietNamNet News
April 23, 2018 06:11 UTC
More outbound Reunification Day tours booked
More outbound Reunification Day tours bookedVietnamese people are opting for holidays overseas for Reunification Day on April 30 and International Labour Day on May 1 because of unattractive domestic tour prices. Nguyen Van Khanh, head of Vietravel's Public Relation Department, said many people had booked tours. Outbound tours to Thailand, Cambodia, Singapore, Japan and South Korea are attracting a huge number of customers. Most of outbound tours to Japan, South Korea or to Europe at TST Tourist have also fully booked. Nguyen Minh Man from TST Tourist, said, "Inbound tour prices including ticket prices to attractions, accommodation or restaurant fees, are already less competitive than outbound tour packages.
Source:VietNamNet News
April 23, 2018 06:11 UTC
New expressway proposed to connect Hoa Binh and Son La
New expressway proposed to connect Hoa Binh and Son LaVietNamNet Bridge – The northern province of Son La People’s Committee has proposed the Government approve the Hoa Binh-Moc Chau Expressway project to better connect two northern provinces of Hoa Binh and Son La as well as Hanoi and northwestern provinces. The four-lane expressway is designed to start in Trung Minh Commune in Hoa Binh City and end in Phieng Luong Commune, Moc Chau District in Son La Province. The construction of the expressway will require land clearance over an area of about 870ha, including 503ha in Hoa Binh Province and 367ha in Son La Province. Once the Hoa Binh-Moc Chau expressway is opened, traveling time from Hanoi to Moc Chau will be reduced to two hours by coaches instead of over three hours as currently. The expressway will also make National Highway No 6 no longer the only road from Hanoi to Moc Chau, thus is expected to help boost development of Moc Chau National Tourism Area and Hoa Binh Lake Tourism Area.
Source:VietNamNet News
April 23, 2018 06:11 UTC
Da Nang city to host In’tl photo exhibition
Da Nang city to host In’tl photo exhibitionAn international photo exhibition marking the country’s Reunification Day (April 30) and Labour Day (May 1) will take place in the city from April 24th to May 3rd at the Da Nang Museum. A photo of Da Nang is shown at an exhibition in the city. The exhibition will officially open at 3.30pm on April 24th at the museum, located at 24 Tran Phu Street. Last year, the city also hosted the ASEAN Community Exhibition to mark the 50th anniversary of the foundation of ASEAN. The Museum, which covers 3,000sq.m, is home to 2,500 objects, photos and documents on the culture of Da Nang and neighbouring central provinces.
Source:VietNamNet News
April 23, 2018 06:11 UTC
Electrical store fire kills 3 in Nam Dinh
Electrical store fire kills 3 in Nam DinhA blaze killed a woman and her two children, including a 10-year-old girl and a 6-year-old boy, early yesterday in the northern province of Nam Dinh’s Yen Tien Commune. The scene of the fire that killed three in the northern province of Nam Dinh yesterday. The blaze reportedly occurred in an electrical store while the three victims were sleeping at about 2am yesterday. A local fire-fighting team extinguished the fire within one hour. A local fire-fighting team took nearly three hours to control the fire.
Source:VietNamNet News
April 23, 2018 06:00 UTC
Vice President flies to Australia for Global Summit of Women
Vice President flies to Australia for Global Summit of WomenVice President Dang Thi Ngoc Thinh left Hanoi on April 22 evening for Australia to attend the 28th Global Summit of Women Summit (GSW) in Sydney, New South Wales state and conduct several bilateral activities from April 23-28. Vice President Dang Thi Ngoc ThinhThe GSW, scheduled for April 26-28, will take the theme “Creating Economies of Shared Value”. During the event, Vietnam will continue affirming its active role and stature at international forums, the importance of strengthening connectivity with female government leaders and businesses to expand economic opportunities for women. The Vice President’s trip to Australia takes place at a time when the two countries celebrate the 45th anniversary of bilateral diplomatic ties, especially following the recent establishment of strategic partnership. Her bilateral activities aim to maintain all-level exchanges, promote ties at local level and boosting partnership across economy, trade, education, climate change response and environment protection.-VNA
Source:VietNamNet News
April 23, 2018 05:15 UTC
Cryptocurrency under supervision
Cryptocurrency under supervisionViet Nam has intensified inspections on cryptocurrency transactions as trading and investments using this payment system are on the rise in the country. Viet Nam has intensified inspections on cryptocurrency transactions as trading and investments using this payment system are on the rise in the country.— Photo genk.vnTransactions in cryptocurrency can threaten the stability of the financial market and social order due to the high risks involved. They were ordered to set up plans to prevent illegal transactions and report to the SBV’s Payment Department before June 30. Local branches of the SBV across the nation are required to raise public awareness about the risks involved in cryptocurrency investment and trading, as well as the legal regulations on cryptocurrency. Earlier, Prime Minister Nguyen Xuan Phuc asked SBV, financial institutions and other organisations providing payment brokerage services to intensify inspections and promptly report suspicious cryptocurrency transactions.
Source:VietNamNet News
April 23, 2018 05:03 UTC
3 SEZs to cost Vietnam whopping $70 billion
3 SEZs to cost Vietnam whopping $70 billionVietNamNet Bridge - Experts have voiced concern about the huge amount of capital, VND1,570 trillion, needed to develop three special economic zones (SEZs), saying this will put a heavy burden on the economy. Vietnam needs huge amount of capital to develop three SEZsThe Ministry of Finance (MOF) estimates Vietnam will need capital, equal to US$70 billion, to develop the three SEZs – Van Don, Bac Van Phong and Phu Quoc. The Ministry of Finance (MOF) estimates Vietnam will need capital, equal to US$70 billion, to develop the three SEZs – Van Don, Bac Van Phong and Phu Quoc. According to Du, Phu Quoc SEZ can develop tourism, while Van Don would have great development opportunities if it links with the Chinese economy. Quang Ninh, where Van Don SEZ is located, for example, has proposed retaining 100 percent of local tax collections until 2030.
Source:VietNamNet News
April 23, 2018 05:03 UTC
VN teams win big at US lego event
VN teams win big at US lego eventVietNamNet Bridge – A Vietnamese student team from the Wellspring School in Hanoi has won the Innovative Poster Award of the First Lego League Jr. World Festival Expo, part of the three-day 2018 First Lego League event held in Houston, the United States, which wrapped up on Saturday. First Lego League Jr. World Festival Expo introduces children ages 6 to 9 to the world of science and technology. Team 14536, the student team from Hai Ba Trung Primary School, won the Building and Discovery Award. The Western Australian International School of HCM City also attended the First Lego League World Festival but did not win any awards. The four Vietnamese teams beat almost 200 teams from 120 schools nationwide at the First Lego League Viet Nam 2018, which took place in HCM City on January 27-28.
Source:VietNamNet News
April 23, 2018 04:41 UTC
Quang Nam seized 2 tonnes smuggled timber
Quang Nam seized 2 tonnes smuggled timberVietNamNet Bridge – The Market Management Department of the central province of Quang Nam yesterday seized two tonnes of rosewood (Dalbergia cochinchinensis) without clear origin from a truck. The smuggled rose wood.— Illustrative Photo VNA/VNSThe department stopped the truck when it was travelling in Nguyen Hoang Street in the province’s Tam Ky City. Hoang Van Tung, 36, the truck driver, failed to show legal documents to prove the origin of the timber to the department. He also admitted that he was on the way to transport the timber from HCM City to Hanoi for sale. Local police co-operated with the local forest management department to further investigate the case.
Source:VietNamNet News
April 23, 2018 04:41 UTC
Vietnam to keep sugarcane area at 300,000ha by 2030
Vietnam to keep sugarcane area at 300,000ha by 2030Vietnam will keep its sugarcane growing area stable at 300,000 hectares until 2030 in parallel with increasing sugar output and quality, according to a plan on the sugar industry’s development until 2020 with a vision to 2030. Accordingly, from now to 2020, the country will ensure sugarcane production at more than 20 million tonnes and sugar output at 2 million tonnes, including 1.3 million tonnes of refined sugar. About 5.5 million tonnes or 90 percent of bagasse will be used to produce 1.1 million kWh of electricity every year. By 2030, sugarcane and sugar output will be respectively increased to 24 million tonnes and 2.5 million tonnes, and more than 90 percent of factories will process at least 4,000 tonnes of sugarcane each day. The industry is expected to recycle 7 million tonnes or 91 percent of bagasse annually to produce 1.5 – 1.6 billion kWh of electricity.
Source:VietNamNet News
April 23, 2018 04:18 UTC
Vietnam accounts for 6 pct of world’s timber, wooden furniture market
Vietnam accounts for 6 pct of world’s timber, wooden furniture marketVietnam’s exports account just 6 percent of the global timber and wooden furniture market which is estimated at 120 billion USD, said a local official. A wood processing firm in Binh Duong provincePham Hong Luong, Head of the Planning-Finance under the Ministry of Agriculture and Rural Development’s Vietnam Administration of Forestry, said Vietnam holds huge potential for wood processing and production. Currently, there are nearly 4,000 timber processing firms, with 1,500 wood export companies. With these favourable conditions, Vietnam’s exports of forestry products are expected to bring home some 9 billion USD this year. Last year, forestry exports hit a record growth of 10 percent in recent five years to reach more than 8 billion USD, which surpasses the target of 7.8 billion USD set for 2020.-VNA
Source:VietNamNet News
April 23, 2018 04:07 UTC
Vietnam is big winner of free trade deals
Vietnam is big winner of free trade dealsThe clinched free trade agreements (FTAs) has opened the door wider for Vietnamese goods to enter foreign markets, helping the country improve trade balance with its trade partners. The clinched free trade agreements (FTAs) has opened the door wider for Vietnamese goods to enter foreign markets. Before 2007, Vietnam was involved in only two free trade deals as member of the Association of Southeast Asian Nations (ASEAN): the ASEAN-China and the ASEAN- Republic of Korea (RoK) pacts. Particularly, in 2015, Vietnam concluded negotiations with the US in the Trans-Pacific Partnership, with the EU on the Vietnam-EU free trade agreement and with Russia on the Vietnam- Eurasia Economic Union free trade agreement. While Vietnam exported only 5.4 billion USD worth of products in 1995, it gained 48 billion USD from shipments in 2007 and the figure hit 213 billion USD in 2017.
Source:VietNamNet News
April 23, 2018 03:45 UTC