Hanoi (VNA) – The State Bank of Vietnam (SBV) on February 22 announced the central rate for the Vietnam dong against the US dollar at 21,894 VND per USD, a decrease of 6 VND compared to the late last week. With the current +/- 3 percent VND/USD trading band, the ceiling exchange rate is 22,551 VND per USD and the floor rate is 21,237 VND per USD. Meanwhile, the listing rate at commercial banks showed little change. The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and the Bank for Investment and Development of Vietnam (BIDV) posted the buying and selling rates at 22,330- 22,400 VND per US…
ODA attraction, use directions issued for 2016–202
Hanoi (VNA) – Directions for the attraction, management and use of foreign sponsors’ official development assistance (ODA) and preferential loans from 2016 to 2020 have been issued. A similar ODA blueprint for 2011 to 2015 helped achieve targets set in the period’s socio-economic development plan. The 2016-2020 plan takes into consideration Vietnam’s status as a middle-income country, which it acquired more than a year ago. The new status is expected to shift relationships with foreign sponsors of ODA and preferential loans from assistance-based to partnership-based. The ODA blueprint for 2016-2020, approved by the Prime Minister, outlines policies to ensure the effective mobilisation and use of ODA and concessional loans, helping…
Vice chairwoman meets with Japanese official
HA NOI (VNS) — National Assembly vice chairwoman Nguyen Thi Kim Ngan yesterday received Japan’s Gunma Governor Osawa Masaaki in Ha Noi. Talking to Masaaki, who was in Viet Nam for a seminar introducing the investment potential of his province and on co-operation with Viet Nam, Ngan said the NA highly applauded such activities and hoped the two countries’ provinces and cities would further strengthen mutual co-operation. Ngan also said the NA would continue to create favourable conditions for Gunma firms to come and invest in Viet Nam. She said she hoped co-operation on tourism, medical training and people-to-people exchange will be further developed. For his part, Masaaki told Ngan…
More than 23,000 cars sold in Jan 2016
Hanoi (VNA) – Vietnam’s automobile sales in the first month of 2016 rose 16 percent from the same period last year, amounting to 23,165 units, the Vietnam Automobile Manufacturers Association (VAMA) announced on February 16. During the month, the number of passenger cars sold increased 3 percent to 14,090 units while commercial cars shot up 50 percent to 8,200 units and special-purpose cars sales climbed 5 percent to 875 units against January 2015. The sale of domestically assembled cars over the month stood at 17,397 units, an increase of 29 percent. In contrast, imported cars sales recorded 5,786 units, a reduction of 11 percent year-on-year. However, the number of cars…
New decision to boost automobile sector
Hanoi (VNA) – The Prime Minister has issued a decision on mechanisms and measures to implement the strategy for Vietnam’s automobile industry development through 2025, with a vision toward 2035. The measures are also designed for the implementation of the master plan for Vietnam’s automobile industry development through 2020, with a vision toward 2030. The policies specified in the decision will be valid for at least 10 years, it said. Among them are assistance in terms of credit, demand stimulation and market development for the domestic automobile industry. Investment projects to produce automobile parts and assembly automobile by domestic enterprises will be given access to loans provided by the Vietnam…
Sapporo Beer to scale up operations in Vietnam
Tokyo (VNA) – Sapporo Holdings Ltd President Tsutomu Kamijo unveiled that the oldest beer brand in Japan wants to expand operations in Vietnam. He anticipated the company’s beer sales in Vietnam might overtake the figure for Japan by 2020. In September 2015, Sapporo acquired all stakeholdings from its Vietnamese partner – to gain complete control over the Sapporo Beer Vietnam Co. Ltd. Kamijo said the company has no further plans for merger and acquisitions, as its target is to consolidate positions in North America and Southeast Asia.-VNA (http://en.vietnamplus.vn/sapporo-beer-to-scale-up-operations-in-vietnam/87528.vnp)
Rice aid to reach the poor during Tet
Hanoi (VNA) – Disadvantaged residents of northern Tuyen Quang, and central Nghe An provinces will receive almost 3,900 tonnes of rice from the national reserves as the Government’s assistance in the upcoming Lunar New Year holiday. Most of the allocation, at more than 3,600 tonnes, will come to 241,154 households in Nghe An. The remainder will benefit 17,947 households in Tuyen Quang. Each member of these households will receive 15 kilograms of rice within the month.-VNA (http://en.vietnamplus.vn/rice-aid-to-reach-the-poor-during-tet/87474.vnp)
Oldest lychee tree recognised in Hai Duong
Hai Duong (VNA) – A lychee tree in northern Hai Duong province has recently broken the record to become the oldest of its species in Vietnam. Dating back almost 200 years ago, the tree was planted in Thuy Lam town, Thanh Son commune, Thanh Ha district. Explaining the origin of the plant, ancient documents said Hoang Van Com, a local villager, brought home three lychee seeds from a fest he attended in neighbouring Hai Phong province, and planted them in his garden. All the seeds grew healthily, and one of them, which is now the oldest lychee tree in the country – turned out to produce delicious fruit. Com decided…
HCM City proposes new 520 million USD power plant
Ho Chi Minh City (VNA) – The HCM City Department of Planning and Investment has asked for approval from the city’s People’s Committee to build a waste-to-power plant using thermal plasma technology from Trisun Green Energy Company, according to Tuoi Tre (Youth) newspaper. The 520 million USD project, covering an area of 13ha and equipped with plasma torches to achieve temperatures of 3,000 degrees Celsius to incinerate waste, is expected to treat 2,000 tonnes of domestic waste daily. The investor estimates that waste treatment by thermal plasma technology will cost 32 USD per tonne. The facility would charge 31.88 USD a tonne if it treats 1,000 tonnes a day and…
Entertainment, tourism complex to be built in Quang Nam
Quang Nam (VNA) – The Tuan Chau Group will build an entertainment, tourism and real estate complex with total investment capital of 3 trillion VND (133 million USD) in Dien Ban town in the central province of Quang Nam later this year. The project would boost investment flow among domestic and foreign investors in the east region of the province, Doan Ngoc Minh, head of investment and co-operation office under the provincial department of planning and investment, confirmed to Vietnam News newspaper. He said Tuan Chau Group completed its land clearance to begin the first stage of the project this year on 35 hectares. He said the project will be…
Tet gifts come to officers, people on southwestern islands
Kien Giang (VNA) – Representatives from the High Command of Naval Zone 5 and several southern localities and businesses on January 10 started visiting and presenting gifts to military officers and people on southwestern islands on the threshold of the Lunar New Year (Tet). In five days until January 15, the delegation plans to stop at Phu Quoc, Tho Chu, Nam Du, Hon Khoai, Hon Chuoi and Hon Doc islands. According to Deputy Military Commander Nguyen Van Dong, the annual activity aims to encourage officers who are safeguarding islands in the southwestern part of the nation. To improve the spiritual life of the officers during the holiday, Chung cake (Vietnamese…
46 million USD allocated for urgent projects
Hanoi (VNA) – The Prime Minister has decided to allocate 1.072 trillion VND (about 46 million USD) from the central budget reserves in 2015 to the Ministry of Transport (MoT) and localities to carry out urgent projects. The beneficiary projects are those related to dyke and embankment building, natural calamity consequence overcoming, and national security and defence. The Ministry of Finance (MoF) is responsible for accurate information and data on the use of the central budget in accordance with regulations. The Ministry of Transport and provincial and municipal People’s Committees are asked to manage and use the funding as regulated to ensure the effectiveness of the projects.-VNA (http://en.vietnamplus.vn/46-million-usd-allocated-for-urgent-projects/87226.vnp)
Phuoc Tuong – Phu Gia road tunnel in Hue opens to traffic
Thua Thien – Hue (VNA) – The Phuoc Tuong – Phu Gia road tunnel on the National Road 1A that is crossing Phu Loc district, the central province of Thua Thien – Hue has been put into use. The construction of the tunnel started in May, 2013 under the build– operate– transfer (BOT) model at a total cost of 1.74 trillion VND (77.8 million USD). The Phuoc Tuong-Phu Gia tunnel allows a speed limit of 80km per hour. It is expected to facilitate the smooth traffic flow and contribute to reducing traffic accidents, which often occurred in the Phuoc Tuong-Phu Gia pass, said Phan Bao Trung, head of the local…