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Government News 17/3

HCM City wishes for JICA support in key projects, Top legislator visits National Press Festival 2018, HCM City hopes for IMF’s further support, Life improvement needed for relocated people: Deputy PM

Mortgage brokers’ dream of flying high

There are currently thousands of real estate agency operating in HCMC. Amongst them, many small and rather young firms are striving to become primary distributors that can directly sign contracts with property developers.

Authorities struggle to solve problem of delinquent owners of foreign-invested companies

VietNamNet Bridge - Local authorities are finding it difficult to prevent owners of foreign-invested enterprises (FIEs) from fleeing the country, leaving unpaid salaries and debts. 

Vietnam’s green dream within reach

Do Ngoc Diep, specialist at the Green Building Project of the World Bank Group’s International Finance Corporation, looks at Vietnam’s chances of realising its dream of becoming “a green spot” in the region.

South of Da Lat, quiet Bao Loc refreshes

Lam Dong Province’s most famous tourism destination by far is Da Lat City, known the world over since its days as a French colonial summer resort. But located 110km to the south of Da Lat is the town of Bao Loc,

Researchers make use of medical waste

For nearly 30 years, researchers at the Faculty of Tissue, Embryo and Genetics under Pham Ngoc Thach Medical University have been making use of amniotic membrane, which is commonly treated as medical waste and discarded. 

Former PM Phan Van Khai dies, aged 85

Former Politburo member and former Prime Minister Phan Van Khai passed away at 1:30 on March 17 at Cu Chi, Ho Chi Minh City, aged 85, according to the Board of health care services for senior officials.

BUSINESS IN BRIEF 17/3

15th China-ASEAN Expo slated for September, Car sales continue another somber month, Ministry asks Formosa to clarify investment increase, Saigon Petro proposes cutting bio-fuel tax

Tourism sector poised to earn big money from Chinese travelers

VietNamNet Bridge - Vietnam has been advised to attract more Chinese tourists from first-class cities who travel regularly, book tours via online channels, and spend big money on trips. 

Changing customer habits bring online retail to fore

 As global brands are scaling up efforts to promote online sales and avail themselves of traditional retail outlets, to garner similar benefits, trade centres need to be flexible to keep up with customers’ fast changing appetite.

Social housing projects need transparency and accountability

 Dao Ngoc Nghiem, vice chairman of the Hanoi Association for Urban Planning and Development, speaks to the newspaper Urban Economy about the high demand for more social housing projects in the city

HCM City waterbuses yet to attract commuters

 Waterway buses have proved to be successful to tourists but have yet to attract regular commuters after three months due to low capacity.

Railway sector seeks more private investment

 Vu Anh Minh, chairman of the Viet Nam Railways Corporation speaks to the Viet Nam Economic Times about how to attract private investment into the national railway sector.

Tighter bank credit to ensure bubble-free market

The State Bank of Vietnam has recently ordered commercial banks to lower the percentage of short-term capital used for mid- to long-term loans from 50 per cent in 2017 to 45 per cent in 2018 and 40 per cent in 2019. 

Q1 workforce up by 150,000

 Vietnam expects to have a total of 54.2 million people in the workforce in the first quarter of 2018, up 150,000 from last year’s final quarter, according to the Ministry of Labour, Invalids and Social Affairs (MoLISA).

Vietnam’s banking system records $440bil in total asset

 The total assets of the Vietnamese banking system surpassed 10 quadrillion VND (440 billion USD) in late 2017, according to the State Bank of Vietnam. 

VietJet inks deal to open direct flights between HCM City, Brisbane

 Vietnamese budget carrier VietJet and the Brisbane Airport Corporation (BAC) of the Australian state of Queensland signed a cooperation agreement in Sydney on March 16 to open a direct route connecting Ho Chi Minh City and Brisbane.

Indonesia urges ASEAN to strengthen patrols in East Sea

 Indonesia has lobbied countries in the Association of Southeast Asian Nations (ASEAN) to carry out maritime patrols in the East Sea to strengthen security.

PVEP sells 5 percent interest in Block 15-1/05 to Murphy

 The PetroVietnam Exploration Production Corporation (PVEP) has signed a deal on the transfer of a 5-percent interest and the administration right in Block 15-1/05 to Murphy Cuu Long Bac Oil Co. Ltd.

Prime Minister Nguyen Xuan Phuc meets New South Wales leaders

 Prime Minister Nguyen Xuan Phuc had meetings with Premier Gladys Berejiklian and Governor David Hurley of New South Wales on March 16 immediately after he arrived in Sydney, continuing his official visit to Australia.