[Round-up] PM Orders Streamlined Admin Procedures, HCM City Seeks Loans from KfW

Tuan Minh

20:34 30/08/2017

BizLIVE - Prime Minister Nguyen Xuan Phuc urged ministries, departments and localities to concentrate on addressing administrative procedure problems. Ho Chi Minh City expects to continue receiving loans from the KfW Development Bank of Germany in KfW-funded projects in the city.

[Round-up] PM Orders Streamlined Admin Procedures, HCM City Seeks Loans from KfW

PM Nguyen Xuan Phuc speaks at the regular cabinet meeting on Aug. 30 in Hanoi. Photo: VGP/Quang Hieu

PM Orders Prompt Settlement of Admin Procedures in September
Prime Minister Nguyen Xuan Phuc urged ministries, departments and localities to concentrate on addressing administrative procedure problems, especially removing tax and fee burdens imposed on businesses, while chairing the government’s regular monthly meeting in Hanoi on August 30.
He asked the Ministry of Finance and the Ministry of Transport to review current regulations on build-operate-transfer (BOT) fees to pave the way for business development, the Vietnam News Agency (VNA) reported.
Deputy PM Hails EuroCham’s Policy Recommendations
Deputy Prime Minister Vuong Dinh Hue said that policy recommendations in the EuroCham’s White Book, especially those pertaining to improving competitiveness and legal frameworks, have important value.
The Vietnamese Government is determined to reform comprehensively the business environment and raise the national competitive edge, Hue stressed at his reception for Chairman of the European Chamber of Commerce in Vietnam (EuroCham) Jens Ruebbert in Hanoi on August 29.
Singapore is Vietnam’s Important Partner: Ambassador
Singapore is always an important partner of Vietnam during its development process, said Vietnamese Ambassador to Singapore Nguyen Tien Minh at a meeting on August 29 to mark Vietnam’s 72nd National Day (September 2).
According to the diplomat, on the basis of the strategic partnership set up in 2013, Vietnam and Singapore have intensified cooperation in numerous fields, including security, defense, trade, investment, education and tourism, with trade and investment being a bright spot in the bilateral relations.
HCM City Seeks Loans from German’s KfW
Chairman of the Ho Chi Minh City People’s Committee Nguyen Thanh Phong has expressed his wish to continue receiving support from the KfW Development Bank of Germany in KfW-funded projects in the city, according to VNA.
During a working session in Ho Chi Minh City on August 29 with KfW Country Director Christian Haas, Phong said the city agrees with KfW’s proposal regarding an additional loan worth 200 million euros for key routes of metro line No.2 and pledges to work closely with the Finance Ministry and KfW on the loan.
Central Bank Revises Roadmap for Application of Lending Rules
The State Bank of Vietnam (SBV) is adjusting for the second time the roadmap to apply the maximum ratio of short-term funds used for medium- and long-term loans.
According to a new draft circular to revise Circular No 36/2014/TT-NHNN on regulating prudential ratios for credit institutions and foreign bank branches, the maximum ratio of short-term funds used for medium- and long-term loans will be at 45% in 2018 and 40% in 2019.
The first amendments to the circular were made in May last year with the ratio reduced from 60% in 2016 to 50% from January 1, 2017 to December 31, 2017. It would drop to 40% from the beginning of 2018.
South Korea Group Invests in Renewable Energy Power in Quang Binh
South Korea’s Dohwa Engineering Company has begun construction of a renewable energy power complex in the central coastal province of Quang Binh, according to VNA.
The $55-million project includes sub-projects of generating 550MW of solar power, 100MW of biomass power and building resort areas and water parks. The project is scheduled for completion at the end of 2018.
Investors Pledge $678.4 Million for Solar Power Projects in Tay Ninh
Since June 2017, enterprises have asked for the permission of the People’s Committee of southwestern Tay Ninh to build 15 solar power plants, worth a total investment of 15.4 trillion dong ($678.4 million).
The projects have a designed combined capacity of 554 MW and will be implemented from 2017-2019.
Vinci Receives $69 Million Contract to Build Vietnam Water Pipeline
French construction company Vinci SA said Tuesday that it won a $69 million contract to design and build a treated water pipeline to improve drinking water supply for the center of Ho Chi Minh City.
The contract, funded by the Asian Development Bank and Saigon Water Corporation, will be completed by subsidiaries Vinci Construction Grands Projets and Bessac (Soletanche Bachy).
Vinalines, Belgium’s Rent-A-Port Ink Cooperation Deal
Vietnam National Shipping Lines (Vinalines) and Belgian Rent-A-Port N.V signed a memorandum of understanding (MoU) on August 30 on the possibility to cooperate in grain specialized port, processing zone and logistics system projects in Lach Huyen port and Dinh Vu industrial zone, in Hai Phong city.
Under the MoU, the two companies will seek collaboration opportunities in a joint venture company to develop grain handling port in Hai Phong International Gateway Port. They are also keen on another joint venture firm to construct a 250 hectare logistics center opposite the grain port, facilitating grain loading, storage, processing and distributing.
The number of holidaymakers arriving in Vietnam increased 35.1% year-on-year to reach an all-time high of 1.23 million in August, bringing the figure to 8.47 million in the first eight months of this year, up 29.7% from a year earlier.
Chinese tourists accounted for 31.3% of the total, according to government statistics.
U.S. oil giant ExxonMobil Corp could start its Blue Whale gas project in Vietnam in November when top leaders of the Asia-Pacific region gather in the Southeast Asian country, national broadcaster Vietnam Television (VTV) reported on Tuesday in a prime-time news bulletin.
At a meeting with Jon Gibbs, ExxonMobil's vice president in Asia Pacific and Middle East, in Hanoi on August 29, Prime Minister Nguyen Xuan Phuc welcome Exxon Mobil to officially kick off the project in the upcoming November on the occasion of the Asia-Pacific Economic Cooperation summit to be held in Vietnam’s central province of Da Nang.

TUAN MINH

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