[Round-up] PM to Visit Thailand, Vietnam Stipulates State Monopoly in 20 Goods, Services

Tuan Minh

23:06 13/08/2017

BizLIVE - PM Nguyen Xuan Phuc will pay an official visit to Thailand on August 17-19. The government has issued a decree declaring that the state will hold the monopoly in the production and trading of 20 goods and services as from October 1 this year.

[Round-up] PM to Visit Thailand, Vietnam Stipulates State Monopoly in 20 Goods, Services

Vietnamese Prime Minister Nguyen Xuan Phuc. Photo: chinhphu.vn

PM Nguyen Xuan Phuc to Pay Official Visit to Thailand
Prime Minister Nguyen Xuan Phuc and his spouse will pay an official visit to Thailand on August 17-19 at the invitation of Thai Prime Minister Prayut Chan-o-cha.
Decree Declares State Monopoly in 20 Goods, Services
The government has issued a decree declaring that the state will hold the monopoly in the production and trading of 20 goods and services as from October 1 this year.
The decree points out that the state only holds monopoly in essential goods and services that are related to defense and security and national interests or in areas which the private sector does not wish to operate in or is not capable of doing.
Radical Proposals for Special Administrative-Economic Zones
The abolition of people’s councils, permitting casinos to be set up and allowing foreign investors to lease land for 99 years are among the main provisions of a proposed new law to govern the three special administrative-economic zones in Vietnam, according to VNA.
Speaking at the 2017 M&A Forum organized in HCM City on August 10, Minister of Planning and Investment Nguyen Chi Dung said the Special Administrative Economic Zone Law is expected to create a proper legal framework for the three zones in Van Don (Quang Ninh province), Van Phong (Khanh Hoa province) and Phu Quoc (Kien Giang province).
Forum Promotes Vegetables, Fruits Trade to China
A forum promoting trade in Vietnamese and Chinese vegetables and fruits took place in the northern border province of Lang Son on August 11.
Speaking at the event, Vice Chairman of the provincial People’s Committee Ly Vinh Quang said Lang Son has an important geographical location in the Nanning – Lang Son – Hanoi – Hai Phong economic corridor, and has been a gateway for Vietnamese farm produce to access the Chinese market via Tan Thanh, Coc Nam and Huu Nghi border gates.
In 2016, Lang Son’s border gates allowed the export of nearly 478,514 tons of dragon fruit; 223,455 tons of watermelon, 240,345 tons of longan fruit, 81,198 tons of litchi, 8,135 tons of rambutan, and 17,837 tons of dried cashew nuts to China.
Banks Ask for Higher Credit Growth Limit
Many commercial banks have asked the State Bank of Vietnam (SBV) to expand the credit growth limit as they have almost used up the assigned quota for the whole year.
The central bank assigns an annual credit growth quota for each bank to control lending and thus ensure money supply and inflation control as targeted by the government.
HCM City Trials Scrapping Construction License
The Ho Chi Minh City People’s Committee has scrapped construction permits for individual houses on a trial basis in residential areas where the 1/500 scale detailed planning is complete.
If the trial proves successful, it would help eliminate “many negative aspects” that currently plague the approval process, said Nguyen Van Duc, deputy chairman of the HCM City Real Estate Association.
EVN Reports 7.3% Rise in 7-month Electricity Output
Electricity of Vietnam (EVN) said its total electricity output in January-July increased by 7.3% year on year to reach 112.6 billion kWh, the Vietnam News Agency reported.
The amount of commercial electricity output in the period was estimated at 98.1 billion kWh, up 8.55% year on year, including 15.1 billion kWh in July.
Vietnam collected 666.68 trillion dong ($29.37 trillion dong) for state coffers and spent 695.16 trillion dong ($30.6 billion) in the first seven months of this year, resulting in a budget deficit of 28.48 trillion dong ($1.25 billion), according to the Ministry of Finance.
VinaCapital Vietnam Opponguyen rtunity Fund Ltd. (VOF), a close-ended fund run by cash manager VinaCapital, said Friday it has invested 11 million in mobile phone distributor FPT Digital Retail JSC (FPT Retail).
VinaCapital did not disclose the exact size of the stake it now owns in FPT Digital Retail, but noted it was one of the largest investors in a sale of 35% of the business by its parent, FPT Corp, listed on the Hochiminh Stock Exchange.
Fraser & Neave's has recognized an exceptional 1.20 billion Singaporean dollars ($881 million) gain from the recognition of Vinamilk's fair value reserves, the Business Times reported.
The new accounting treatment for Vietnam’s Dairy Products JSC, or Vinamilk, followed F&N's steady increase in its Vinamilk stake, to 18.74% now from 5.4% in December 2016, as well as F&N taking a second seat on Vinamilk's board.
Insurance companies in Vietnam collected 57 trillion dong ($2.5 billion) in the first seven months of 2017, up 20.9% year on year and invested $9.6 billion back into the economy, up 20.2%, according to the Ministry of Finance.

TUAN MINH

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