State budget collections sees year-on-year increase

According to the General Statistics Office of Vietnam, State budget collection and spending from the beginning of the year to August 15 was estimated to reach nearly VND539 trillion (US$25 billion) and VND628 trillion (US$29.5 billion), respectively.

The collected amount equates to 68.8% of this year’s entire collection target. This includes VND366 trillion (US$17 billion) of local collections from crude oil (VND64 trillion) and imports and exports (VND103.7 trillion).

The local collections consist of VND124.8 trillion from State owned entrepreneurs, VND78.6 trillion from foreign invested businesses (excluding crude oil), VND69.5 trillion from industrial, commercial and services tax collections from the private sector, VND30.6 trillion from personal income tax, VND6.9 trillion from environmental protection tax and VND6.3 trillion from other collections.

The State budget has been allocated in the following way; development investment (VND104.9 trillion); socio-economic development, national defence, security, management of the State, Party and organisations (VND445.4 trillion) and payment of debts (VND77.6 trillion).

The State budget collection is relatively positive when compared to the same period last year when it merely brought VND461 trillion (US$21.6 billion), approximately 56.5% of last year’s plan. Meanwhile, VND563 trillion (US$26.4 billion) was spent from the State budget in the first eight months of 2013.

Danang hosts Expanded ASEAN Maritime Forum

The 3rd Expanded ASEAN Maritime Forum (AMF-3) opened in the coastal city of Danang on August 28, examining 20 years of implementing the 1982 United Nations Convention on the Law of the Sea (UNCLOS) in the region.

Present at the event were representatives from 10 ASEAN member states and 8 East Asia Summit (EAS) partners, namely the US, China, Russia, India, Japan, the Republic of Korea, Australia, and New Zealand.

Participants discuss issues related to regional maritime cooperation in coping with natural disasters and preventing incidents at sea by providing humanitarian aid, intensifying search and rescue work and setting up hotlines to ensure maritime security and safety.

Politburo member inspects Hanoi’s key infrastructure projects

Politburo member and Secretary of the Hanoi municipal Party Committee, Pham Quang Nghi conducted inspections on the progress of two construction projects, Nhat Tan Bridge and a highway connecting the bridge with Noi Bai Airport on August 27.

As reported by the Project Management Board 85, the bridge project, costing VND13.626 trillion (US$640.42 million), consists of three contract packages, with 97.4% of the work already completed.

The 12km linking highway project, worth VND6.742 trillion (US$316.87 million), features five construction packages, four of which have been put into place, completing 74% of the total work.

Politburo member Nghi asked for the immediate installation of decorative lighting systems on Nhat Tan Bridge during its construction process, while urging investors to work closely with the municipal authority to handle difficulties incurred in the project’s final stages.

He also instructed contractors to ensure the scheduled progress of the highway connecting Nhat Tan Bridge with Noi Bai Airport and to mobilise human resources and machines to speed up the remaining package as it is currently only 65% installed.

The municipal leader expressed his wish that a trial run be conducted on Nhat Tan Bridge on the occasion of the 60th anniversary of Hanoi’s liberation (October 10, 2014).

National Day marked in the US, Thailand

The Vietnam Embassy in the US held a reception to mark the 69th anniversary of National Day (September 2), attended by over 300 US officials and congressmen, ASEAN ambassadors, scholars and Vietnamese community representatives.

At the event, Ambassador to the US Nguyen Quoc Cuong spoke about the great significance of September 2, 1945 when President Ho Chi Minh read the Declaration of Independence, proclaiming the birth of the Democratic Republic of Vietnam.

Over the past 69 years, Vietnam has recorded significant accomplishments in national construction and defence and played a dynamic and responsible role in dealing with regional and international issues.

Cuong highlighted the tremendous achievements in bilateral cooperation between the two nations, especially after President Truong Tan Sang and Barack Obama established a comprehensive partnership in 2013.

At the meeting, US Assistant Secretary of State for East Asian and Pacific Affairs Daniel Russel congratulated Vietnam’s National Day, hoping that the two countries will further promote cooperation in new fields in the future.

Vietnam is one of the top ten countries with the highest number of students studying in the US, showing the two nations’ due educational investment.

Daniel emphasised that 2015 will mark the 20th anniversary of normalisation of bilateral ties and 40 years of since the end of the US war in Vietnam and expressed his hope that bilateral relations will flourish in the future.

The same day, Lao Ambassador to Thailand Ly Bounkham congratulated Vietnam on its National Day and expressed his belief that special traditional ties between Vietnam and Laos will grow in the future.

For his part, Vietnam Ambassador to Thailand Nguyen Tat Thanh showed his pride in the special ties, voicing his conviction that Lao and Vietnamese representative offices in Thailand will work more closely to fulfill their diplomatic tasks.

The two diplomats discussed regional connectivity measures to further promote tourism, transport and trade for mutual benefit.

Deputy PM calls for intensification of flood-prevention efforts

Deputy Prime Minister Hoang Trung Hai has urged the National Steering Committee for Flood and Storm Preventions, relevant ministries and sectors, and all localities to focus on preventative measures for floods, flash floods and landslides in the near future.

Consequently, the management and planning of infrastructure projects must be prioritised to ensure the safety of the people, particularly those living in the affected risk areas.

According to plans, localities across the country will relocate approximately 28,600 households from areas at risk of natural disasters.

The Deputy PM has assigned the Ministry of Agriculture and Rural Development to work with the Ministry of Planning and Investment and the Ministry of Finance to collect proposals from localities outlining their respective evacuation schemes.

The Ministry of Planning and the Ministry of Investment and Finance will be responsible for allocating funds to implement the schemes.

Communication and outreach efforts should be stepped up, particularly in mountainous localities, to reduce the damage caused by floods, flash floods and landslides, the Deputy PM said, adding that every resident should be provided with adequate information on natural disasters and appropriate active response measures.

The Ministry of Natural Resources and Environment will continue to assess and establish flash flood and landslide warning and observation systems in vulnerable areas.

Meanwhile, the Ministry of Agriculture and Rural Development will advise localities on the implementation of their respective evacuation and resettlement programmes, and will ensure the flow of information regarding natural disaster prevention from the relevant national authorities to local units.

Gov’t approves VAT exemption for animal feed

The Government has agreed with the Ministry of Finance’s suggestion to slash value added tax (VAT) on animal feed to zero from the current 5 percent in order to support the husbandry industry, the Saigon Times Daily reported.

Most livestock farmers have faced losses recently and the tax exemption will help them cut input costs to generate profits, according to the Husbandry Association of Dong Nai province, which is home to the country’s biggest pig herd.

Chairman of the association Nguyen Tri Cong said farmers have suffered great hardship due to the high cost of animal feed along with falling prices of poultry and livestock on the market.

Prices of materials for animal feed such as corn and soybean have decreased on the global market in the past time, so it is expected that prices of animal feed on the local market will be stable in the coming time, Cong said.

According to the Ministry of Agriculture and Rural Development, Vietnam has imported around 2.25 billion USD worth of animal feed and materials in the first eight months, a year-on-year increase of 9 percent.

The three biggest suppliers in the period are Argentina, accounting for 33 percent of Vietnam’s imports of feed and materials, the US with 14 percent and China with 11 percent.

Corn is the major imported ingredient during the period with 2.83 million tonnes worth 734 million USD, increasing 2.3 times in volume and 1.8 times in value over the same time last year.

Brazil, India and Thailand are the three biggest corn exporters, respectively accounting for 49 percent, 21 percent and 7 percent of the import spending on the farm produce.

President urges state-owned enterprises to improve effectiveness

President Truong Tan Sang hailed important contributions made by State-owned enterprises to the country’s development over the past years, saying that SOEs have been a tool for the State to regulate the economy, maintain macro-economic stability and contribute to promoting growth.

During a reception in Hanoi on August 27 for outstanding delegates representing 79,000 party members and workers from the Central Enterprises Block Party Committee, President Sang emphasised SOEs great contribution to the country's renewal process as well as to ensuring social security.

However, the President also pointed out that SOEs need to overcome some shortcomings related to weak corporate administration, scattered and ineffective investment, and slow restructuring.

President Sang urged SOEs to improve their competitiveness as well as to promote their leading role in building and developing the infrastructure system, researching and finding applications for science and translating advanced technologies into gains in production and profit.

During the meeting, delegates proposed measures to help promote the role of the State sector in the socialist-oriented market economy.

In 2013, State-owned groups and corporations recorded combined total revenues of over VND1,800 trillion (US$84.6 billion), an increase of 8.3% when compared to 2011. They also contributed VND297 trillion (nearly US$14 billion) to the state budget, accounting for 36% of the country's total budget collection.