VietNam Breaking News168彩票官网 http://www. Update latest news from Vietnam Sat, 30 May 168彩票官方网站 18:50:00 +0000 en-US hourly 1 http://wordpress.org/?v=5.2.3 Vu Mao, innovator of Vietnam’s National Assembly, dies at 80168彩票官网 http://www./168彩票官方网站/05/vu-mao-innovator-of-vietnams-national-assembly-dies-at-80/ http://www./168彩票官方网站/05/vu-mao-innovator-of-vietnams-national-assembly-dies-at-80/#respond Sat, 30 May 168彩票官方网站 18:50:00 +0000
Vu Mao, innovator of Vietnam’s National Assembly, dies at 80
By Gia Phong
Saturday,  May 30, 168彩票官方网站,18:50 (GMT+7)

Vu Mao, innovator of Vietnam’s National Assembly, dies at 80

By Gia Phong

Vu Mao, former chairman of the National Assembly Office, is in an interview with Lao Dong newspaper in an undated photo. He was a key architect behind the first live television broadcast of a National Assembly session in mid-1994 – PHOTO: LDO

HCMC – Vu Mao, former chairman of the National Assembly (NA) Office, who was a key architect of the lawmaking body’s innovations, died at 1.39 a.m. on Saturday, May 30, at the age of 80.

The Central Board for Care and Protection of the Health of Senior Officials said in a statement that due to his old age and frail health, the retired official died of an acute illness.

Born in December 1939 in Hanoi, Mao was the first secretary of the Central Committee of the Ho Chi Minh Communist Youth Union between 1982 and 1987.

He was the chairman of the NA Committee for Youth, Adolescents and Children from July 1987 to June 1988. Later, he was the chairman of the NA Office and the State Council until July 1992.

Afterwards, he still worked as the chairman of the NA Office until July 2002 before serving as the chairman of the NA’s Committee of External Affairs until July 2007.

Between 1992 and 2007, he was a NA deputy and a member of the NA Standing Committee.

He was a key assistant of the then-NA chairman Nguyen Van An in innovating the NA’s activities, including live broadcasts of NA sessions, vote by machine, and parliamentary diplomacy.

The senior official was quoted the news website VnExpress as saying that “I had gambled with my political career to convince NA leaders of live broadcast of the NA’s important sessions.”

It was in 1994 that the NA Office set up the live broadcast project, but “faced many obstacles” because of its “unprecedented” nature.

“At the 5th session of the 9th National Assembly in mid-1994, a question-and-answer session would take place the following day, and the television broadcast was carefully prepared. We had announced the people (about this,) but even then there remained obstacles,” he said.

Therefore, he met with then-NA Chairman Nong Duc Manh and then-Deputy Prime Minister Phan Van Khai at noon that day to persuade them of the live broadcast the following day. “I said I would take the responsibility,” Mao was quoted as saying.

In the eyes of the press, he was a politician who was open-minded, willing to give interviews, and enhanced the transparency of the NA’s activities.

He was also a poet and musician who wrote songs about the activities of the legislative body, Vietnam and its people.

He retired from public life on January 2008.

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HCMC banks offer support for 224,000 virus-hit businesses168彩票官网 http://www./168彩票官方网站/05/hcmc-banks-offer-support-for-224000-virus-hit-businesses/ http://www./168彩票官方网站/05/hcmc-banks-offer-support-for-224000-virus-hit-businesses/#respond Sat, 30 May 168彩票官方网站 18:47:00 +0000
HCMC banks offer support for 224,000 virus-hit businesses
The Saigon Times
Saturday,  May 30, 168彩票官方网站,18:47 (GMT+7)

HCMC banks offer support for 224,000 virus-hit businesses

The Saigon Times

A teller counts Vietnamese banknotes. Since the outbreak of the novel coronavirus, banks in HCMC have provided support for some 224,000 local firms and household businesses – PHOTO: VNA

HCMC – Banks in HCMC have lowered their interest rates and rescheduled loans worth VND290.5 trillion (US$12.4 billion) for around 224,000 firms and household businesses reeling from the coronavirus pandemic.

The State Bank of Vietnam (SBV) held a conference on Friday to discuss measures to support affected individual and corporate clients of banks in HCMC, reported the Vietnam News Agency.

As of late April this year, banks in HCMC restructured the repayment of loans worth VND51.8 trillion (US$2.2 billion) for more than 162,700 clients, said Nguyen Hoang Minh, deputy director of the central bank’s HCMC branch.

Minh said local banks cut interest rates for over 17,700 clients whose outstanding loans totaled over VND48.7 trillion (US$2.09 billion). From January 23, they also gave out new loans worth VND190 trillion (US$8 billion) to over 43,400 existing clients.

As of late April, banks offered short-term loans worth some VND165 trillion (US$7 billion) at interest rates of less than 5% to more than 31,500 clients in five priority sectors.

The preferential rates are applicable to businesses specializing in agricultural and rural development, importers and exporters, small- and medium-sized enterprises and enterprises in supporting industries, hi-tech firms and hi-tech agriculture companies and start-ups.

Of the VND165 trillion, SMEs borrowed over VND117 trillion (US$5 billion), accounting for 71% of the total outstanding short-term loans.

Connectivity programs between banks and enterprises have been frequently held to enable firms and household businesses to have access to bank loans, as well as policies on the central bank’s low-interest loans.

However, the adoption of policies that support firms affected by the coronavirus pandemic has been fraught with difficulties, noted Minh.

Representatives of financial institutions said they find it difficult to ensure adequate legal documents including evidence of damages, genuine clients, conditions for support and their financial reports.

The transparency and accuracy of the information and the basis for comparison and verification also pose a challenge for banks because documents of evidence are usually provided by one stakeholder.

SBV’s deputy governor Dao Minh Tu asked local banks to immediately classify groups of individual and corporate clients and instruct them on how to take out loans.

Firms that are seeing severe losses will receive considerable support from banks, said Tu.

He also demanded that banks reform their administrative procedures to help shorten the time taken to handle loan applications.

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Novaland continues receiving capital from international institutions168彩票官网 http://www./168彩票官方网站/05/novaland-continues-receiving-capital-from-international-institutions/ http://www./168彩票官方网站/05/novaland-continues-receiving-capital-from-international-institutions/#respond Sat, 30 May 168彩票官方网站 17:24:00 +0000

This disbursement to Novaland is a positive sign in the current real estate market beset by the COVID-19 epidemic, with many developers suffering from difficulties in project approval and administrative procedures.

Financial capacity consolidation

At a time when the world financial market is in turmoil, the continued disbursement by international investors to the Vietnamese developer is keeping faith alive in the Vietnamese real estate market.

Novaland Investment Group Corporation (Novaland), a leading real estate developer in Vietnam, is one of the few domestic developers who are receiving active co-operation from international financial institutions.

This group has received the second disbursement of $101 million from its $250 million inaugural syndicated secured term loan facility.

Novaland had previously received the first disbursement of $149 million of this facility in the fourth quarter of 2019. Credit Suisse AG (Singapore) is the Original Mandated Lead Arranger and Bookrunner (OMLAB) of the transaction.

The facility was over subscribed by a number of leading international commercial banks, an endorsement of Novaland’s solid business growth.

As a result of the strong interest, the facility was upsized from its original $150 million target to $250 million.

The facility supports the execution of Novaland’s further business development, including the acquisition of additional land bank and the construction and roll-out of new projects, while diversifying its channels of funding at competitive pricing.

As more encouragement, in the consortium which participated in Novaland’s facility this time, there were some international investors who have never invested in the Vietnamese market before or only poured a very limited investment into Vietnam.

According to Bui Xuan Huy, CEO of Novaland, the group greatly appreciates the investors’ strong confidence and commitment to Vietnam and Novaland in this loan upsizing, especially in these extraordinary times.

“Novaland is well prepared not only to overcome this difficult situation with our tested experience and far-sighted planning but also thoroughly take advantage of appropriate opportunities presented to us during this challenging time,” Huy said.

He added that the group strongly believes in its direction: a centralised orientation, clear business strategy, stable land bank, healthy financial structure, prudent risk management, and strict legal compliance; as well as strong competences to become an international Vietnamese brand.

“We will work more diligently and harder to meet the invaluable trust our customers, partners, and investors placed in Novaland,” said Huy.

Since 2019, through the consultation and arrangement of Credit Suisses, Novaland has received $309 million disbursement from international financial institutions.

Also in 2019, the Deutsche Investitions – Und Entwicklungsgesellscheft Mbh (DEG) – the Investment Fund of the German reconstruction bank KFW, specialised in sponsoring and consulting private businesses with social projects, also sponsored $20 million to develop Azerai Can Tho Resort (Can Tho province) – a pioneer resort in a tourism and entertainment complex named NovaWorld Mekong.

Creating a landmark ecological urban project

In 168彩票官方网站, Novaland has continued implementing Phase 2 of its strategic development roadmap, primarily focused on the development of mid- to high-end properties with developments in centrally-located real estate in Ho Chi Minh City, satellite urban areas in Ho Chi Minh City’s surrounding provinces, and residential projects and integrated resorts (second 168彩票官方网站s) in high-potential tourism destinations.

In the first quarter of 168彩票官方网站, the real estate market in the south has seen a fierce shortage in supply but Novaland received positive sales in townhouses and villas in Aqua City – the first project invested by Novaland under the ecological urban area concept.

Valencia precinct features a fresh Mediterranean design at the Aqua City Ecological Complex which was introduced to the market only recently.

Aqua City, located on a plot of more than 600 hectares, is the most remarkable project currently in the east of Ho Chi Minh City.

Located in the front face of Lane Way 2 – an arterial road connecting Highway 51 and Ho Chi Minh City-Long Thanh-Dau Giay Highway which is now being expanded, Aqua City inherits the perfect natural features of the existing Dong Nai river system. Moreover, Novaland has reserved more than 70 per cent of the whole project for green spaces and amenities.

Novaland is one of the leading real estate developers in Vietnam. The group now possesses and develops a large land bank covering about 4,900ha to develop housing projects in Ho Chi Minh City, satellite towns, and hospitality real estate projects.

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]]> http://www./168彩票官方网站/05/novaland-continues-receiving-capital-from-international-institutions/feed/ 0 SAM Tuyen Lam Golf & Resort ready for its 168彩票官方网站 Loyalty Tournament168彩票官网 http://www./168彩票官方网站/05/sam-tuyen-lam-golf-resort-ready-for-its-168彩票官方网站-loyalty-tournament/ http://www./168彩票官方网站/05/sam-tuyen-lam-golf-resort-ready-for-its-168彩票官方网站-loyalty-tournament/#respond Sat, 30 May 168彩票官方网站 15:57:00 +0000

SAM Tuyen Lam Golf & Resort will stage its 168彩票官方网站 Loyalty Tournament at the end of June

The SAM Tuyen Lam Loyalty Tournament will take place on June 27, with the shotgun start at 7am. The event is expected to be a place for golfers, golf clubs, and domestic and foreign businesses to exchange ideas and expand their networks.

According to the organiser, the tournament will be prepared meticulously and professionally with the desire to offer golfers an attractive golf tournament in the dreamy city of Dalat. The golfers will compete in three divisions based on A, B, or C Handicaps.

This year’s tournament is set to welcome some 120 golfers, with the entry fee of VND2.65 million ($115) each. The fee is inclusive of golf fee for 18 holes, buggy fee, one night accommodation at Swiss-Belresort, and the awards ceremony.

Apart from prizes for the winner of each division (Best Gross, First, Second, and Third prizes), SAM Tuyen Lam Loyalty Tournament 168彩票官方网站 also features technical prizes: Nearest to the Pin, Longest Drive, Nearest to the Line. Especially, a Hole-in-one award worth nearly VND1 billion ($43,500) is awaiting the lucky winners.

SAM Tuyen Lam Golf & Resort lies in the east of Tuyen Lam Lake tourist area

With valley topography surrounded by sloping hills and primeval pine forests, the 18-hole golf course is the centre and the heart of the valley. The natural high mound is also a highlight with a four-star hotel, a golf clubhouse, and the adjoining driving range.

Tuyen Lam Lake is 5km from Dalat City with fresh air, peaceful space, as well as a diverse charming natural landscape of forests, mountains, lake, streams, and waterfalls. The area has a rich cultural heritage and promises to become a large-scale tourist site welcoming sightseers, campers, and those looking to relax. Additionally, the resort promises to be a favourite destination for honeymoons, sports excursions, as well as health trips.

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]]> http://www./168彩票官方网站/05/sam-tuyen-lam-golf-resort-ready-for-its-168彩票官方网站-loyalty-tournament/feed/ 0 January-May foreign investment inflows reach $13.9 billion, promising strong rebound168彩票官网 http://www./168彩票官方网站/05/january-may-foreign-investment-inflows-reach-13-9-billion-promising-strong-rebound/ http://www./168彩票官方网站/05/january-may-foreign-investment-inflows-reach-13-9-billion-promising-strong-rebound/#respond Sat, 30 May 168彩票官方网站 15:56:00 +0000

Foreign investment capital in the first five months of 168彩票官方网站 amounted to $13.89 billion

According to statistics published by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, foreign investors poured $13.89 billion in total into Vietnam during January-May, signifying a decrease of 17 per cent on-year due to the impact of the COVID-19 pandemic.

The period saw 1,212 newly-registered projects with a total registered capital of $7.44 billion, down 11.1 per cent in the number of projects but up 15.2 per cent in capital value.

Meanwhile, 436 existing projects were allowed to raise investment by more than $3.45 billion, up 31.4 per cent on-year.

According to the agency, foreign-invested capital disbursement reached $6.7 billion in the five months, equivalent to 91.8 per cent of last year’s corresponding period.

Foreign investors pledged to pour capital into 18 sectors, in which manufacturing and processing took the lead with nearly $6.87 billion, accounting for 73.6 per cent of the total capital. It was followed by power production and distribution ($3.92 billion); real estate ($800 million); and wholesale and retail ($776 million).

Among the 54 localities receiving foreign investment in the period, the southern province of Bac Lieu ranked at the top with $4 billion. The southern province of Ba Ria-Vung Tau came second with $1.93 billion and Ho Chi Minh City placed third with $1.6 billion.

Singapore is still the largest foreign investor of Vietnam with the total capital of $5.3 billion, followed by Thailand with $1.46 billion, China168彩票官方网站 with $1.27 billion, and Japan with $1.26 billion.

At a recent meeting hosted by the prime minister, the representatives of the Ministry of Planning and Investment (MPI) and localities shared that after studying investment opportunities in the country168彩票官网, foreign investors found Vietnam a safe and promising investment destination and a likely candidate for their diversification of supply sources.

The PM also agreed to establish a special working group headed by the Minister of Planning and Investment to catch this wave of new investment.

The special working group was established to build competitive investment attraction policies to tap into the wave of investment going into this global strategic relocation. The policies to be created include incentives on tariffs, access to land, as well as solutions to prevent further disruptions to the supply chain and a lack of human resources. In addition, as a key priority for investors is stability and legal consistency, the special working group will complete the relevant legal framework.

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