Press digest – July 17
11:16 | 18/07/2014

WB pledges US$4 billion loan to VN

WB President Jim Yong Kim confirmed that the World Bank (WB) has committed to providing a preferential loan worth nearly US$4 billion from the International Development Association (IDA) for Viet Nam within three years from 2014-2017.

Mr. Jim Yong Kim expected to strengthen cooperation with Viet Nam in the restructuring of State businesses, Public-Private Partnership, climate change response, new energy, health services and social security.

PM Nguyen Tan Dung proposed the WB assisting Viet Nam in reducing poverty in ethnic minority groups, afforesting to serve as coastal breakwaters, upgrading fishing boats, reducing overload in hospitals, improving people’s lives and fulfilling the Millennium Goal on poverty reduction.

Government discusses five laws

PM Nguyen Tan Dung, who chaired the meeting on law building, highlighted the Government’s tasks on establishing institutions, laws, mechanisms and policies.

The draft laws brought up for discussion included the Law on the Organization of the Government, the Law on the Organization of Local Authorities, the Population Law, the Law on amending and supplementing some articles of the Accounting Law and the Law on the Promulgation of Legal Documents.

Unexploded mines - war’s tragic legacy

Deputy PM, FM Pham Binh Minh talked about the tragic legacy during his meeting with Zambian FM Harry Kalaba.

The Vietnamese Government has been trying to overcome the war consequences, including the clearance of unexploded ordnance, said Mr. Minh, calling on the international community to continue support for Viet Nam in this field.

They also discussed ways to beef up the bilateral ties, especially in trade, agriculture, and telecommunication infrastructure.

US to impose anti-dumping duty on steel pipes

The US Department of Commerce (DOC) will officially impose anti-dumping taxes on oil country tubular goods (OCTG) imported from Viet Nam from September 2. 

Viet Nam ranks third among steel pipe exporters to the US with turnover reaching over US$110 million in 2013.

US$20 bln expected from second M&A stage

Mergers and Acquisitions (M&A) activities in Viet Nam are forecast to enter a new period of stronger development, with a total value tallying in at approximately US$20 billion, 30% higher than the first stage (US$15 billion). 

The country’s first stage of M&A deals reach US$15 billion for 2008-2013, with a record high of US$5 billion in 2012.

Japan helps VN build thermal power plant

The Viet Nam Electricity (EVN) and the Japan Bank for International Cooperation (JBIC) on July 17 signed a credit agreement for the Vinh Tan 4 thermal power plant project.

The credit is worth US$338,205,423, of which US$202,923,253 is financed by the JBIC and US$135,282,170 by the Bank of Tokyo Mitsubishi UFJ. The period of grace for the credit lasts 17 years.

Kien Giang attracts 340 projects in sea, island development

Southern coastal Kien Giang Province has granted investment certificates to 340 projects, worth VND166,500 billion in coastal areas and islands in 2010-2013.

Phu Quoc Island alone has attracted 112 projects with a total capital investment of VND135,087 billion.

Footwear, handbags exports up 19.2%

Footwear and handbags earned US$940 million from exports in June, bringing their total export value in the first half to US$5.7 billion, a year-on-year increase of 19.2%.

The export turnover of footwear and handbags witnessed increases of 17.8% and 40.7%, respectively.

By Thuy Dung

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