Press digest – August 27

VN, China agree to restore, develop ties

Politburo member Le Hong Anh, the Special Envoy of the Party General Secretary Nguyen Phu Trong on August 27 in Beijing met with General Secretary of the Chinese Communist Party, State President Xi Jingping, in Beijing on August 27.

The Party, State and people of Viet Nam have always attached great importance to pursuing the further consolidation and boosting of Viet Nam and China’s comprehensive strategic partnership, together with the Party, State and people of China, and to ensuring the partnership’s sound and long-lasting stable development, said Mr. Anh.

In the context of complex rapid international and regional development, the two sides need to strengthen cooperation, rationally solve disputes and work together to create a peaceful and stable environment to develop our countries and improve the living conditions of the peoples of Viet Nam and China, the Special Envoy said.

Politburo member Le Hong Anh also suggested leaders of the two parties and states tighten their instructions in order to promptly restore, stabilise and develop bilateral relations.

PM chairs cabinet regular meeting

PM Nguyen Tan Dung on August 27 presided over a two-day Government’s regular meeting to discuss socio-economic development in August and the first eight months.

The meeting was set to focus on the implementation of Resolution 01/NQ-CP, dated January 2, 2014 on key tasks and solutions guiding the realization of the socio-economic development plan and State budget estimate in 2014; a socio-economic report for 2014 and plan for 2015, the realization of State budget for 2014 and estimate for 2015; and the issuance of Government’s international bonds.

The GDP growth rate was forecast at 5.8% for the whole year. So far, 12 out of 14 economic norms have been fulfilled and outstripped.

The PM proposed Government members talk four key topics for the rest of the year.

Gov’t introduces tax relaxation measures

The Government will extend time for paying value added tax (VAT) for machines and equipment imported by businesses to create fixed assets to 60 days.

The imported machines and equipment must total VND100 billion or above.

VAT refunds shall be completed within five working days after tax agencies receive businesses’ valid documents requesting for the tax returns.

For real estate transfer, individuals shall be allowed to select one of the two ways for tax payment. They can pay 25% of the total income per each transfer or 2% of the selling price per each transfer.

VN calls on ASEAN for stronger maritime cooperation

Viet Nam highlighted the need for ASEAN to boost collaboration on maritime issues in order to ensure an environment of peace, stability, and maritime security and safety in the region at the fifth ASEAN Maritime Forum (AMF-5).

During the event, which was concluded in the central city of Da Nang on August 27, the country also emphasised the importance of respecting international law, the 1982 United Nations Convention on the Law of the Sea (UNCLOS) and the Declaration on the Conduct of Parties in the East Sea (DOC).

Viet Nam also pointed to the need for parties to practice restraint and refrain from actions that complicate the situation.

During the AMF-5, the ten ASEAN member countries reviewed their maritime cooperation and the implementation of previously developed initiatives, as well as devising strategies for boosting the regional coordination of humanitarian aid and disaster responses.

FDI inflow shrinks in eight months

More than US$ 10.23 billion of foreign direct investment (FDI) flowed into Vietnam over the first eight months of 2014, falling by 19% against last year’s same period, said the General Statistics Office.

By August 20, the number of newly licensed FDI projects stood at 992, up 29% from a year ago, with registered capital of some US$ 7.25 billion, down 2.1%.

Meanwhile, nearly US$ 2.3 billion was added to 349 existing projects.

Trade surplus touches over US$ 1.81 bln

Viet Nam ran a trade surplus of US$ 1.81 billion for the first eight and a half months of 2014, according to the Viet Nam Customs.

In the first half of August, the country gained a trade surplus of US$ 17 million. Total trade volume stood at US$ 12.37 billion, down 11% against the second half of July.

As of August 15, total trade valued nearly US$ 178.35 billion, representing a year-on-year increase of 12.9%.

IATA forecasts rapid growth of aviation sector

The aviation sector of Viet Nam is projected to be the world's seventh fastest growing market during the 2013-2017 period and achieve international passenger and international commodity transport rates of 6.9% and of 6.6%, respectively.

The information was released by International Air Transport Association (IATA) Director General and CEO Tony Tyler at a conference on the occasion of Aviation Day on August 27.

Currently, the aviation industry contributes on average US$ 6 billion to the country’s gross domestic product (GDP) and generates 230,000 jobs.

Viet Nam Days in Japan set to kick off

At least 98 organisations and 150,000 visitors are expected to participate in this year’s Viet Nam Days in Japan festival that will take place at Yoyogi Park in Tokyo on September 13-14. 

Speaking at a press conference in Tokyo on August 26, Vietnamese Ambassador to Japan Doan Xuan Hung expressed his hope that this year’s festival  themed “Hand in Hand”, will continue in the tradition of prior festivals, nurturing the close relationship between the two Governments and peoples.

Former Japanese Senator Matsuda Iwao, co-head of the organising board, echoing Ambassador Hung’s sentiments, said the festival has always been a popular event for Japanese citizens and Vietnamese people residing in Japan.

ASEAN, China agree to negotiate for upgrading ACFTA

The Association of Southeast Asian Nations (ASEAN) and China have agreed to negotiate for an upgraded ASEAN-China Free Trade Area (ACFTA) in order to ensure that the ACFTA remains dynamic and facilitates trade activities, said a joint statement of consultations between the two sides.

The consultations between ASEAN economic ministers and the Chinese Minister of Commerce (AEM-MOFCOM) took place in Nay Pyi Taw, Myanmar, on August 26, within the framework of the 46th ASEAN Economic Ministers’ Meeting.

The ministers said that the agreement on upgrading the ACFTA reflects the positive relations between the two sides and helps deepen their economic cooperation in a mutually beneficial manner.

VNA to increase flights on National Holiday

The national flag carrier Vietnam Airlines plans to increase an additional 147 flights on key domestic routes from August 29 to September 3, to meet passengers’ increasing demand for travel during the upcoming National Holiday.

The carrier will offer approximately 106,400 more seats for passengers to select during the peak time for holiday, up 30% compared to normal days and 22% against the same period in 2013.

Increased flights will be seen in such routes of high demand as Hanoi/Ho Chi Minh City-Da Nang/Nha Trang/Da Lat/Phu Quoc and Ha Noi-Dong Hoi./.

(Source: VGP/VOV/VNA/Nhandan)