Press digest – July 30

Cabinet meeting: VN’s economy keeps on track

July continues to see positive socio-economic development, the Ministry of Planning and Investment reported to the regular Cabinet meeting which opened in Ha Noi on July 30.

The report noted that inflation remained under control with the rise in consumption price index (CPI) kept at low level; interest rates, foreign exchange rates and market were stable; and exports and services maintained good growth.

The disbursement of capital sources including FDI and ODA was at a good pace, while the industrial sector, particularly the manufacturing and processing industries, continued its recovery.

At the opening session, Prime Minister Nguyen Tan Dung asked Cabinet members to discuss major issues relating to economic restructuring, GDP growth, macro-economy and solutions for smooth operations of businesses.

VN, France beef up strategic partnership

Deputy PM and FM Pham Binh Minh on July 30 had a telephone talk with French Foreign Minister Laurent Fabius on measures to cement and deepen the Viet Nam-France strategic partnership.

The two sides agreed to boost delegation exchange of all levelsl; strengthen their cooperation in various areas of economics, defence, construction, energy, education and training, and culture. 

Both sides also lauded the success of the Vietnamese Culture Year in France.

Deputy PM Minh conveyed Vietnamese top leaders’ invitation to French President Francois Hollande to visit Viet Nam.

Foreign Ministry opens hotlines for Vietnamese people in Libya

In response to questions concerning the Vietnamese people in Libya, the Consular Department of the Foreign Ministry on July 30 said most of the 1,550 Vietnamese people are living and working in non-violence areas of Libya.

Earlier, the Foreign Ministry instructed Vietnamese representative agencies in Libya to keep a close watch on the situation and work closely with local authorities and companies hiring Vietnamese labourers, thus standing ready to support and protect Vietnamese citizens there.

The Vietnamese Embassy in Libya was asked to inform the citizens of updated developments in the country and warn them to keep off from the clashing areas and keep in touch with the embassy for urgent assistance.

Intel launches first ‘Made-in-VN’ CPU

Intel Products Viet Nam, an affiliate of the US-based Intel Corporation, on July 29 launched its first central processing unit (CPU) product named Haswell manufactured at its factory in the Saigon Hi-tech Park.

This is the fourth generation of Intel CPU which is used for desktops, laptops and mobile phones, said CT Lau, Director of Intel Products Viet Nam’s assembly and test factory.

Intel expects that by the end of this year, 80% of its CPU for desktops provided for the world market will be made in Viet Nam.

UNESCO recognizes Nguyen Dynasty's royal documents as world heritage

Administrative documents signed by the Nguyen Kings have received the certificate of the Asia-Pacific Region's Memory of the World Program of the United Nations Organization for Education, Science and Culture (UNESCO).

Addressing the ceremony, Minister of Home Affairs Nguyen Thai Binh affirmed that the documents were honored for its outstanding values in plentiful contents, unique form, irreplaceable value, and large-scale influence in the region and the world.

Administrative documents signed by the Nguyen Kings (1802-1945), including nearly 200,000 pages on laws, decrees, edicts and instructions for resolving problems in various fields such as politics, military affairs, foreign affairs, economy, society and culture.

It also consists of valuable documents which confirm Viet Nam's sacred sovereignty over the Paracel and Spratly archipelagos.

Number of foreign arrivals bounces back

The number of foreign tourists to Viet Nam reached 564,700 in July, an increase of 4.6% against last month, according to the General Statistics Office (GSO). 

In the January-July period, the country welcomed over 4,85 million foreign tourists, representing a year-on-year surge of 15.6%.

Specifically, the number of foreigners arriving in Viet Nam for tourism went up 13.9% against the same period last year; for business up 16.1%; for visiting relatives up 19.5%; and other purposes up 21.1%.

Official statistics show that most of the markets witnessed growth with China’s Hong Kong posting the highest rise of 111.3%; followed by Germany 99.4%; Russia 27%; and Laos 26.7%. 

In 2014, the tourism sector planned to lure 8 million foreign and 37.5 million domestic tourists, earning VND 240 billion (or US$11.2 million) in revenue.

Fisheries Surveillance Force receives modern vessel

The Ha Long Shipbuilding Co, Ltd on July 30 handed over a newly-built vessel coded KN-782 to the Viet Nam Fisheries Surveillance Force.

The vessel, the largest and most state-of-the-art in Viet Nam so far, was built since October 20, 2012. It was designed by Damen Group of the Netherlands in accordance with European standards.

The vessel measures 90.5 meters in length and 14 meters in width. Its four engines command over 12,000 horse power, enabling the vessel to reach speed of more than 21 nautical miles per hour.

Moody’s upgrades VN’s credit ratings

Moody's Investors Service on July 29 raised senior unsecured and issuer bond ratings of Viet Nam by one notch, to B1 from B2, with a stable outlook.

The rating firm cited the country's emerging track record of macroeconomic stability since 2012.

Moody's also raised the country’s long-term foreign currency bond ceiling to Ba2 from B1, and its long-term foreign currency deposit ceiling to B2 from B3.

The firm also raised Viet Nam's local currency country risk ceiling to Ba1 from Ba2.

Over 42,000 new enterprises established in seven months

Nearly 42,400 enterprises were formed nationwide in the first seven months of the year, with a total registered capital of VND262.4 trillion (US$12.33 billion), down 7% in the number of new businesses and up 17.8% in capital compared with the same period of 2013. 

The average registered capital per newly established enterprise was VND6.19 billion (US$290,930), a year-on-year increase of 26.7%. Over 629,000 labourers are expected to earn employment at the new companies, surging 6.5% against last year.

The period also saw 37,612 enterprises dissolved and suspending operations, representing an increase of 9.8% against the previous year. Of this, 5,610 enterprises were dissolved; 6,774 businesses temporarily halted operation with registration; and the remaining 25,228 ceased their operation in wait for payment of enterprise code or without registration.

Viet Nam Airlines offers cheap tickets on overseas routes

Viet Nam’s national flag carrier Viet Nam Airlines on July 29 launched its annual promotion programme on a number of international flights, with airfare starting from just VND199,000 (US$9).

Golden Autumn 2014 will apply to passengers in Viet Nam who buy tickets from August 8 to 22 and departure from August 22, 2014 to March 31, 2015.

The price excludes tax, fees and other surcharges. This is a conditional ticket and it does not apply to flights during the peak season.

The tickets will be sold via the website: www.vietnamairlines.com or Vietnam Airlines agents from across the country./.

(Source: VGP/VOV/VNA/Nhandan Online)