Day: July 21, 2021

Since the beginning of this year, the central city of Da Nang has adopted synchronous, flexible and effective measures to realise the Government’s double goals of fighting the COVID-19 pandemic and restoring socio-economic development, on the back of strong engagement of the local political system, and active involvement of businesses and people.

Positive results

Thanks to drastic anti-pandemic measures, the city has basically put the pandemic under control while maintaining production and trade.

Pham Truong Son, head of the management board of the Da Nang Hi-tech Parks and Industrial Zones Authority, said the local hi-tech parks and industrial zones have so far drawn 499 projects with a total registered capital of nearly 26.7 trillion VND and over 1.74 billion USD, and 65,000 workers.

The board has assisted firms in conducting administrative procedures, while monitoring the observance of pandemic prevention and control measures, and coming up with plans to develop production while effectively combating the pandemic, he said.

Da Nang strives to fulfill dual goal

Da Nang has designated 2021 as “Year of restoring growth and promoting economic development”. Commenting on the performance so far, Chairman of the municipal People’s Committee Le Trung Chinh affirmed that the local economy is gradually recovering and escaping the 2020 negative growth, evidenced by the gross regional domestic product growth of nearly 5 percent in the first half of this year, up 1.05 percentage points from the same period in 2019. The services sector expanded by 5.34 percent, and the industrial and construction sector picked up 2.85 percent. Such results proved that the management of the local political system and efforts by departments, agencies, people and businesses have been effective.

One of the factors helping Da Nang to regain the growth trend is the control of the COVID-19 pandemic. The key to the city’s success in curbing the spread of the coronavirus is fast tracing and isolation and large-scale testing. For example, when discovering 35 cases positive to SARS-CoV-2 at Truong Minh Company in the Da Nang IP on May 11, the city quickly traced and sent all F1 cases to concentrated quarantine facilities, while conducted testing for over 11,000 related people. When they tested negative, lock-down on the IP was lifted, allowing it to resume operation.

Synchronous measures taken

About socio-economic development measures in the last half of the year, Secretary of the municipal Party Committee Nguyen Van Quang said the committee will continue to involve the entire local political system in pandemic control work. Drastic and synchronous measures will continue to be taken, especially in residential and concentrated quarantine facilities. The city will urgently seek access to COVID-19 vaccines supplies in order to conduct large-scale vaccination.

At the same time, drastic measures will also be implemented to restore economic growth, speed up public investment capital disbursement, and remove difficulties for key projects, especially delayed ones, according to Quang.

During the fourth conference of the 22nd municipal Party Committee, delegates proposed key solutions for the last half of this year, including promptly providing assistance for residents and firms hit by the pandemic; dealing with “bottlenecks” in investment procedures, basic construction, site clearance, compensation; calling for investment in industrial clusters; and stepping up awareness campaigns to popularise Da Nang as a safe and attractive destination.

To gather socio-economic development pace post-pandemic, Son, the head of the management board of the Da Nang Hi-tech Parks and Industrial Zones Authority, suggested focusing on services for the domestic market, export-import, job creation, and social welfare.

He said the municipal People’s Committee needs to work with ministries and agencies to accelerate the investment in technical infrastructure for Hoa Cam , Hoa Nhon and Hoa Ninh IPs; and adjust investment attraction policy towards eco-friendly projects in new IPs.

The official also proposed holding activities to connect supply-demand in human resources between enterprises and training establishments in priority fields of hi-tech, information technology, automation, precision mechanical engineering; and increase foreign language and soft skill training for workers.

He said the city should issue mechanisms and policies to build a contingent of professional and dynamic cadres, strengthen discipline and order in administrative management, encourage dynamism and creativity among officials and cadres, and punish those showing bureaucratic behaviours

Source: Vietnam News Agency

Domestic banks will continue striving to ensure business performance and deliver on commitments to investors while supporting clients amid difficulties this year.

A survey conducted by Vietnam Report JSC pointed out six priority strategies of domestic banks at present, including accelerating digital transformation; diversifying products and expanding markets; increasing charter capital; changing operating structure; enhancing risk management; and promoting human resources training to adapt to digital transformation.

General Director of the Vietnam Report JSC Vu Dang Vinh said amid the fourth wave of COVID-19 infections, banks were forced to cut lending rates, resulting in reduction in net profits. To maintain business performance, they will increase non-credit incomes, restructure capital by cutting costs and attracting more demand deposits.

This year, banks will race to cut inter-bank money transfer fees to draw demand deposits. With an additional registered capital of nearly 82 trillion VND, there will be more room to propel credit growth and develop the securities market, he said.

According to the survey, several banks began expanding markets in rural areas and agriculture, and linking with partners and customers in ecological system.

Experts suggested that the Government and the State Bank of Vietnam should continue assisting credit organisations in supplying capital to clients hit by the pandemic, and make it easier for them to hike capital to meet Basel II standards.

At the same time, it is necessary to perfect legal mechanisms with new business models, upgrade infrastructure, payment and data systems.

In a survey carried out by Vietnam Report in June, 75 percent of banks said the national data system has yet to be completed, which needs the Government’s support to speed up digitalisation

Source: Vietnam News Agency

The northern province of Bac Ninh is applying measures with the aim of rising to the top five localities in the provincial competitiveness index (PCI) rankings, according to Chairwoman of the provincial People’s Committee Nguyen Huong Giang.

Giang noted that in 2020, Bac Ninh stood at the 10th position out of 63 cities and provinces across the country in PCI rankings with 66.74 points, dropping six places over the previous year, but still in the group of localities with good results.

In order to improve its PCI ranking, Bac Ninh will design policies to support human resources development and create favourable conditions for goods circulation, while assisting local firms in applying pandemic prevention and control measures and recovering production and business in the new normal situation in the rest of 2021.

The province will reform its mechanisms and policies to make them transparent, open, attractive, and unique, thus improving the local business and investment environment, attracting more strategic investors, contributing to boosting socio-economic development in the 2021-2025 period and following years, according to the provincial leader.

She said that Bac Ninh will also focus on enhancing its sustainable and long-term competitiveness by continuously improving its performance in PCI criteria and component indexes in the next five years.

To this end, the provincial leader asked local agencies, sectors and localities to effectively implement a project to reform operations and enhance the quality of public services at the provincial Centre for Public Administration and the “single window” offices during the processing of administrative procedures.

At the same time, it is necessary to reduce direct contacts as well as unofficial cost, while saving time and increasing transparency in dealing with administrative procedures for locals, businesses and organisations, she stressed.

The provincial People’s Committee Chairwoman also asked departments, sectors and localities across the province to strengthen the application of information technology in processing administration procedures and providing online public services.

Each quarter, the province will make public its planning and plans on land use, construction and other sectors, and the list of projects calling for investment, and at the same time appealing for ideas and feedback for timely adjustments.

One of the drastic measures that Bac Ninh will apply is to continue enhancing the quality and responsibility of its officials and public servants, with leaders of department and agencies playing the role of setting example and taking greater responsibility for affairs under their management.

At the same time, Bac Ninh will mete out strict punishment to officials and public servants committing violations of laws and regulations, said Giang.

In order to develop services supporting businesses, improve indexes related to land use and assist local labourers, the provincial leader asked departments and sectors to coordinate closely with the Centre for Public Administration of the province to build necessary legal documents related to investment, construction and land-use, aiming to save time and simplify administrative procedures in line with the yearly plan of administrative reform.

Giang also asked for the regular gathering of opinions and feedback from businesses through dialogues, thus making timely adjustments and designing solutions to remove obstacle facing them.

Meanwhile, Bac Ninh will concentrate on building its own trademark with an aim to make the province an attractive destination for domestic and foreign investors.

Last year, the industrial hub in northern Vietnam saw the establishment of 2,390 new firms and 771 subordinate units with a total registered capital of over 24.12 trillion VND (1.04 billion USD), up 2 percent in number and 8.6 percent in capital.

As of the end of 2020, Bac Ninh was home to 18,879 firms with a total registered capital of over 284.35 trillion VND, more than 18,200 of them are working with a combined registered capital of over 280.7 trillion VND

Source: Vietnam News Agency