Press digest – April 28

PM directs business environment improvement

PM Nguyen Tan Dung confirmed that the Government will create favorable conditions for the business community to make more contributions to the nation’s socio-economic development at the conference with businesses in 2014.

The PM suggested ministries, agencies and localities work with the business community to further improve the investment and business environment.  

Businesses are suggested to coordinate with functional agencies in preventing and controlling counterfeits and low-quality products as well as expand domestic and foreign markets, establish business culture and strictly follow the State’s regulations and rules.

VN, Mongolia to celebrate diplomatic ties

Receiving Mongolian Deputy Minister of Foreign Affairs Damba Gan Khuyag, Deputy PM Nguyen Xuan Phuc has proposed Viet Nam and Mongolia closely cooperating in joint celebrations of the 60th anniversary of their diplomatic ties.

The Deputy PM confirmed that Viet Nam respects the traditional relations with Mongolia.

Deputy Foreign Minister Damba Gan Khuyag hoped that the two countries will strengthen cooperation in investment, trade and exploit each side’s advantages in the fields of mining, tourism, agriculture and employment.

VN, UK work in agriculture, wildlife conservation

Deputy PM Hoang Trung Hai received Lord De Mauley, UK Parliamentary Under Secretary of State for Environment, Food and Rural Affairs.

The UK has hoped that collaborations with VietNam in agriculture and the conservation of rare wildlife species would be stepped up, Mr. Lord De Mauley said.

The guest also informed that his Government provides about US$3.3 million a year for VietNam’s scientific and technological development.

He noted that the two countries made their goal of obtaining US$4 billion in two – way trade in 2013, nearing the target of increasing the UK’s direct investment in Viet Nam to US$3 billion.

VN, Laos review border marker planting

The 14th meeting of the Viet Nam-Laos Joint Working Group on Border Marker Planting in Vientiane, Laos from April 23-28 assessed the unfinished workload.

They deliberated how to build new markers and upgrade existing ones along the Viet Nam-Laos land borderline within this year.

IFC helps expand microfinance in VN

The International Finance Corporation (IFC), a member of the World Bank will support M7- a microfinance institution in Viet Nam to expand its services for small enterprises in raising incomes and creating more jobs.

The IFC will assist the M7 in consolidating long-term plan and improving the capacity of its staff.

Huge FDI capital flows into IZs, EZs

As of March 2014, more than 50% of all foreign investment in Viet Nam was concentrated in the industrial and economic zones, with roughly 5,300 foreign businesses reporting more than US$112 billion in registered capital.

In the first quarter of this year alone, there were 70 FDI projects invested in IZs and EZs nationwide with a combined registered capital of more than US$800 million.

Exports of aquaculture, agriculture, forestry up nearly 14%

Viet Nam’s exports of aquaculture, agriculture and forestry products in April this year reached US$2.63 billion, bringing the total turnover to US$9.69 billion over the past four months, a year-on-year increase of 13.8%.

The nation earned US$4.74 billion, US$2.22 billion and US$2 billion from agriculture, aquaculture and forestry products, up 5.8%, 31.2% and 20.4%, respectively.

RoK helps bring clean water to Vinh Long rural residents

The Mekong Delta province of Vinh Long will cooperate with investors from the Republic of Korea (RoK) in building and upgrading its water facilities.

The project aims to raise the rate of rural households accessing water from centralized stations by 60% by 2015 and 100% by 2020.

At present, there are 106 centralized water stations and 6,000 UNICEF-funded water wells in Vinh Long rural areas.

Japanese, Korean corporations to launch big projects

Sojitz Corporation, a large Japanese business, intends to open three to four industrial parks (IPs) in Viet Nam.

Sojitz has poured its investment in 20 factories in Viet Nam in all fields.

The Republic of Korea’s Lotte retail group has received an approval from Ho Chi Minh City authorities to proceed with construction of a US$2 billion international financial center.

Covering 10 hectares, the complex will consist of world class commercial plazas, hotels, serviced apartments, and office suites.

Donaco delight at new Lao Cai casino

Australia’s casino operator Donaco International has just received an amended investment certificate for expanding its hotel and casino business to newly built five-star hotel in the northern border gate province of Lao Cai.

The five-star hotel and casino Lao Cai International Hotel will comprise 428 rooms and be located near existing identically named three-star hotel which was built in 2003.

By Thuy Dung