Daily Archives: July 7, 2018

Private sector contributes some 45% to GDP

The private sector has made sizable contribution to the national economy, contributing some 45% of GDP.

Head of Legal Department of Vietnam Chamber of Commerce and Industry (VCCI) Dau Anh Tuan said that private enterprises need streamlined business conditions to develop.

Review and simplification administrative business procedures must be done continuously without delays. There should be an independent monitoring mechanism to filter new business conditions and licenses. A laissez-faire mechanism by ministries to impose business conditions at ease may harm Vietnam’s efforts to improve business conditions and administrative procedures., said Tuan.

Source: VOV5

Airbus CEO steps up warning on danger of hard Brexit

The head of Airbus warned the British government on Friday that in a worst-case scenario Brexit could result in production at its factories stopping and aircraft being grounded.

For Airbus, which makes the wings for all its passenger jets in Britain, that worst-case scenario would occur if Britain is no longer part of the EU aviation safety certification agency, EASA, which gives planes and parts approvals so that they can fly.

According to Airbus Chief Executive Tom Enders, certification for thousands of parts that are part of the supply chain, part of their aircraft, would fall apart, and that could be a very troubling situation for them and could eventually lead to a standstill of production. Guillaume Faury, boss of Airbus’s plane making unit, said planes could also be grounded.

Source: VOV5

Trade tensions threaten rural American growth, world economy

The US trade tensions with China and other countries are increasingly worrying rural America and will also threaten economies around the world.

According to the CoBank’s quarterly Rural Economic Review, 70 percent of US agricultural exports are bound for destinations that are either in trade negotiations or in dispute with the US.

Retaliatory tariffs from China and Mexico targeting US agricultural products have dampened the economy’s outlook. Not only soybeans, but tree nuts, grapes and dairy products may also face losing market share in valuable growth markets. Pork producers may be the most worried, as exports account for 25 percent of US pork production.

Source: VOV5

US, North Korea establish working group on denuclearization

During US Secretary of State Mike Pompeo’s visit to North Korea, Washington and Pyongyang have established a working group to work through the “nitty gritty stuff” on issues impacting the two formerly antagonistic nations.

State Department spokesperson Heather Nauert said Friday that Pompeo and North Korean officials discussed denuclearization and repatriating the soldiers’ remains from the Korean War in the 1950s.

Source: VOV5

VOV President Nguyen The Ky attends 10th anniversary of VTC news

VTC News has marked its 10th anniversary in a celebration in Hanoi. Member of the Party Central Committee and President of Radio Voice of Vietnam participated in the event on Friday.

Over the past decade, the VTC News newspaper has been an efficient communications channel of Party guidelines and State policies with major social impact in its news stories. It has become part of the VOV media network since 2016. Editor in Chief of VTC News Ngo Van Hai said the VTC News aims to be in top 5 or 7 of largest e-newspaper in Vietnam.

There have been daily changes in media production and audience access methods. VTC News has to renovate itself to survive, pioneer and develop. We have been developing media content on multi-media platforms with latest technology and more convenient, active, friendly and better services to audiences., said Hai.

Source: VOV5

Children’s participatory rights in their issues promoted

Ho Chi Minh City has hosted a conference to review 1 year implementing a model of children’s council in 5 cities and provinces for further duplication.

Under a Prime Minister decision on a program to promote children’s participatory rights in their issues from 2016 to 2020, 5 cities and provinces of Yen Bai, Quang Ninh, Binh Dinh, Hanoi and Ho Chi Minh City have piloted the model and made initial results. More training on the council members’ capacity building, the Law on Children and the International Convention on the Rights of the Child will be organized.

Source: VOV5

Russia introduces additional taxes on US goods

Russia said on Friday it will impose additional import duties on some US industrial goods after the US slapped tariffs on steel and aluminum imports.

The economy ministry said Russia will impose extra tariffs on some goods from the US for which there are Russian-made substitutes. The extra duties of 25 to 40 percent will apply to imports of fibre optics and equipment for road construction, the oil and gas industries and metal processing and mining. The measures, signed by Russian Prime Minister Dmitry Medvedev, were intended to compensate for $87.6 million of damage suffered by Russian export-focused companies as a result of the US metals tariffs.

Source: VOV5