Press digest – January 4

Transport sector urged to strengthen state management

PM Nguyen Tan Dung has asked the transport sector to continue improving the capacity, validity and efficiency of its state management as this is a decisive factor for the sector’s better regional and international integration.

Attending a conference in Ha Noi on January 4, to review the sector’s four-year implementation of Resolution No.13-NQ/TW on building a synchronous infrastructure system to turn Vietnam into a modern industrialised nation by 2020 and put forth 2016 tasks, the PM suggested the sector better mechanisms, policies, and strategies relating to transport, and speed up administrative reform, especially in procedures involved in people and businesses.

Ceremony for first election anniversary slated for January 6

A ceremony celebrating the 70th anniversary of Viet Nam’s first General Election Day (January 6) is scheduled for January 6 at the National Assembly Hall in Ha Noi, deputy head of the NA Office Nguyen Si Dung told a press conference on January 4.

Attending the event will be leaders of the Party, State, NA, Viet Nam Fatherland Front, cities and provinces nationwide, former senior officials, heroic Vietnamese mothers as well as foreign guests such as top legislators of Laos and Cambodia , and representatives from diplomatic missions.

DPM inspects anti-smuggling in An Giang

Deputy PM Nguyen Xuan Phuc who is also the Head of the Central Steering Committee 389 for Anti-Smuggling, Counterfeit Goods and Trade Fraud tasked Tinh Bien border guard, customs, public security forces, and market management agencies to step up inspections to counter trade fraud and prevent tax evasion.

The Government leader also called on competent agencies to encourage local residents not to aid and abet smugglers; strictly punish corrupt staff who tolerated illegal trafficking.  

Mr. Phuc also asked anti-smuggling forces to do more to combat trafficking.

SBV sets daily rate for VND-USD transactions

The State Bank of Viet Nam (SBV) on January 3 announced that it would apply a daily reference rate for VND/USD transactions starting from Monday to allow more flexibility.

The policy will allow the foreign exchange rate to be (more) flexible in accordance with the demand and supply of foreign currency within Viet Nam and global market developments while still maintaining the SBV’s management role.

Margin limit for exchange rates remains at /-3

The margin limit for exchange rates remains at /-3, Deputy Governor of the State Bank of Viet Nam Nguyen Thi Hong told a press conference in Ha Noi on January 4.

The margin is subject to the Vietnamese dong exchange rate to the US dollar, the Euro, the Chinese yuan, the Thai baht, the Singapore dollar, the Japanese yen, the Republic of Korea won and the Taiwan dollar, according to Director of the State Bank of Viet Nam (SBV)’s Monetary Policy Department Bui Quoc Dung.

VN’s manufacturing returns to growth in December: PMI survey

Viet Nam’s factory activity saw a return to growth in December last year with output, new orders and employment all rising

The Nikkei Viet Nam Manufacturing Purchasing Managers’ Index (PMI) in the final month of 2015 rose to 51.3 from 49.4 in November. A reading above 50 indicates growth in the sector.

The Nikkei said the sector’s growth was helped by the first rise in new orders in four months thanks to improving client demand

Insurance market enjoys highest revenue

The domestic insurance market pocketed around VND 68 trillion (US$3.1 billion), up 21.43% against 2014, the highest level over the last five years, according to the Ministry of Finance (MoF).

The MoF reported that insurers had risen their capital by VND152 trillion, a year-on-year surge of 16%.

Tra fish export forecast to drop 5% this year

Officials expect Viet Nam’s tra fish (pangasius) export value to continue falling this year, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP). The decrease is due to anti-dumping tariffs, the US programme on monitoring catfish, and pressure from competition selling other types of white-meat fish, the association said.

Officials anticipate that the value of the tra fish export will see a year-on-year drop of 5% to US$1.5 billion this year. To regain its value, the domestic fishery industry should seek to sell in more export markets and increase its market shares in existing ones.

Bac Ninh attractive to foreign investors

The northern province of Bac Ninh has become a magnet for foreign investors thanks to its attractive investment environment and synchronous infrastructure system with a series of modern industrial zones (IZ).

In the 2011-2015 period, the province attracted more than US$12.13 billion in investment, of which foreign direct investment (FDI) was US$10.74 billion.

In 2015, Bac Ninh led the nation in investment attraction with a total of over US$3.68 billion. 

Foreign tourists flock to Sa Pa and Hue for New Year

The central province of Thua Thien – Hue received roughly 90,000 travellers, including 40,000 foreigners, from December 24-January 2, up 12% from the same period last year.

The northern mountainous town of Sa Pa in Lao Cai province received around 30,000 holiday-makers during the New Year holiday, soaring 45% compared to the same period last year.

(Source: VGP/VNA/VOV/Nhandan)