Showing posts with label socio economic. Show all posts
Showing posts with label socio economic. Show all posts

Thursday, February 24, 2011

Ninh Thuan master plan awaits PM's nod

The central province of Ninh Thuan has more than 100km of coastline. Its beautiful beaches and fertile land are the envy of the rest of the country. It is the first province to have its socio-economic master plan drafted by foreign consultancy firms. — VNA/VNS Photo Anh Ton

The central province of Ninh Thuan has more than 100km of coastline. Its beautiful beaches and fertile land are the envy of the rest of the country. It is the first province to have its socio-economic master plan drafted by foreign consultancy firms. — VNA/VNS Photo Anh Ton

HA NOI — Viet Nam's first provincial socio-economic development master plan created by two world renowned consultancy firms has been approved by leaders of central Ninh Thuan Province and is awaiting the nod from the Prime Minister.

Ninh Thuan's socio-economic development master plan to 2020 with a vision to 2030, which was developed on the basis of its nuclear industry, was presented to the Ministry of Planning and Investment in Ha Noi on Tuesday.

"This is the first province in Viet Nam to invite international consultants to construct its master plan. In the past, other provinces usually used proposals developed by domestic research institutes," said Minister of Planning and Investment Vo Hong Phuc.

The coastal province, 60km south of Cam Ranh Airport and 350km north of HCM City, would become Viet Nam's leading nuclear power centre, and needed a new orientation and vision fitting of its new status, he said.

The US$3-million master plan adopts the strategy of "accelerating economic growth" in the next 10 years with four targets: enhancing competitiveness, improving infrastructure, branding and capacity building, and boosting the competence of State agencies in the province.

The blueprint, conceived by Monitor Group from the US and Britain's ARUP, was based on a "diamond framework", a new approach in Viet Nam, to analyse what existed in the coastal central province today that would provide opportunities in the province tomorrow, said the provincial People's Committee deputy chairman, Do Huu Nghi.

The framework, developed by Professor Michael Porter from Havard Business School, was built on observations of regulations and the nature of consumer demand in the province, together with identifying the current stage of the province's development, which Monitor director Chris Malone said were "the most important sources of strength in the plan".

"At different stages of development, they need to focus on different things. So provinces like Ninh Thuan which are at an early stage of development need to focus on identifying the factors that already exist in the province and generating income from those factors, such as using the location or climate in order to generate tourism income," he said.

The province with more than half a million people decided to go for the "fast and sustainable growth" option, which consists of a 19 per cent increase in GDP per year, instead of normal growth of 13 per cent or substantial growth of 22 per cent that were also considered at the beginning.

Nghi said the decision was made after its consultants pointed out that targeted programmes and human resources training couldn't produce immediate results in the coming period.

With that model, Ninh Thuan is expected to reach GDP per capita of US$2,800 in 2020, or 85 per cent of the country's average, with industry and services accounting for 80 per cent of GDP.

The poor province, where average annual income is just over $510, would need VND260,000 billion ($13 billion) in the next ten years for such development.

A unique point about the master plan that differentiates it from others is that it outlines a number of investment projects and their implementation road maps designed to raise the capital.

"The consultants contacted potential investors while working on the master plan to ensure its feasibility," said Nghi.

ARUP's senior urban designer Slavis Poczebutas said the biggest challenge for them in the one year-long project was to achieve a balance between economic development and an "almost untouched beautiful countryside" with fertile agricultural land, WWF-preserved forests and a rich maritime ecosystem.

"The type of challenges that Ninh Thuan faces are challenges that we see all around Viet Nam. It's important how the country uses the coastal economy to create jobs and increase prosperity," said Malone.

How the province developed its economy in a way that would genuinely help the poor and cope with climate change was important at this stage of development, he said.

The consultant also said tourism and Viet Nam's first nuclear power plant, construction of which would start in 2014, would definitely be able to co-exist if there was an integrated plan in advance.

"There's more than 100km of coastline in Ninh Thuan. The tourism areas are located in the far north while the industrial zones and nuclear power plant will be located in the south," he said. — VNS

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Thursday, January 27, 2011

Laos opens first stock exchange

The first securities exchange in Laos, a joint-venture between Laos
and the Republic of Korea (RoK), opened for business on October 10
in the capital, Vientiane.


On addressing the
opening ceremony, Laos Deputy Prime Minister and Chairman of the
Securities Commission Somsavat Lengsavad highlighted the importance of a
securities market when raising capital for the country’s socio-economic
development.


The Laotian government is about to
launch its seventh five year socio-economic development plan for the
period 2011-2015. The main objectives of the plan are to eradicate
poverty, reach the UN’s Millennium Development Goals (MDGs) and create
the best possible conditions to take Laos of the list of the world’s
under developed countries by 2020 and lay the foundations for the
country’s industrialisation and modernisation, said Somsavad.


He added that it was essential for Laos to raise significant
funding and professionally qualified human resources to boost its
integration into the world international arena./.

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Tuesday, December 28, 2010

Target to hold prices and curb power cuts

HA NOI — The Government will instruct relevant agencies to carry out synchronous measures to control prices, while overcoming power shortages, Prime Minister Nguyen Tan Dung said at the Government's regular monthly meeting yesterday.

Participants at the meeting were told that the Prime Minister would soon issue an instruction on price controls in an attempt to stabilise the market up to early 2011.

Dung said a nationwide conference would be held on implementing the instruction in a bid to fulfil this year's socio-economic targets, such as controlling inflation.

He stressed the need to maintain a stable prime rate, to manage the monetary system in an active but flexible way and to keep the price of essential commodities and medicines stable.

The Prime Minister asked ministries, cities and provinces to reserve enough goods to serve public demand during the lunar new year celebrations.

In an attempt to overcome power shortages, Dung urged electricity suppliers – particularly the Electricity of Viet Nam – to take drastic measures to speed up the construction of power plants, while buying electricity from neighbouring countries and cutting down on waste.

Participants at the meeting heard that the socio-economic situation had developed positively in the first nine months of this year. The economy had recovered fairly quickly after the global downturn and performed better than the same period in 2008 and 2009.

Specifically, the gross domestic product growth averaged 6.52 per cent in the first nine months, while industrial production was higher than the whole year's plan.

Export turnover was about US$51.5 billion in the first nine months, an increase of 23 per cent compared with the same period last year and four times higher than the National Assembly's approved target of over 6 per cent.

Total import turnover was $60 billion, an increase of 22 per cent compared with the same period last year. The trade deficit continued to narrow down and stood at $8.5 billion – equal to 16.7 per cent of the total export turnover.

The consumer price index rose 8.64 per cent compared with the same period last year.

Despite much progress, the economy was still facing many difficulties, the conference heard.

The price of consumer goods had increased, as had the price of gold. The sluggish performance of some major world economies continued to affect the country's export growth.

Production and trading enterprises were still finding it difficult to borrow money because of high interest rates, the Prime Minister said. Making matters worse, the country also has to cope with natural disasters such as typhoons, flooding and epidemics.

To overcome these difficulties, the Government has asked ministries, industries, cities and provinces to ensure there are enough supplies of commodities and that prices are stable, while disbursing investment capital for projects using Government bonds and the State budget.

The meeting reviewed socio-economic development in the first nine months and discussed strategies for the remainder of 2010. — VNS

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Monday, December 27, 2010

Government focuses on prices, power shortage

Government focuses on prices, power shortage

The government will focus on implementing measures to control prices and
deal with power shortage in the remaining months of this year,
according to Prime Minister Nguyen Tan Dung.


The PM made the statement at the cabinet’s September meeting on
September 30, which discussed the nation’s socio-economic performance in
the past nine months and socio-economic tasks in the fourth quarter.


PM
Dung said he will soon issue Instructions on solutions to control
prices and stabilize the market from now to the year-end and early 2011.


Putting
the emphasis on the close connection between prices and monetary and
credit policies, the PM underscored the need to continue keeping stable
the prime interest rate.


He asked relevant ministries and
agencies to be proactive and flexible in executing monetary policies in
service of economic growth, not letting any price fever of essential
goods, especially medicine and milk, occur.


To tackle power
shortage, PM Dung asked the electricity sector, especially the
Electricity of Vietnam to take drastic measures to ensure sufficient
power in both short and long terms.


He requested the sector to
quickly speed up construction and commissioning of power plants along
with buying power from neighbouring countries and regulating power
resources appropriately.


At this meeting, the cabinet members
discussed reports on the country’s socio-economic performance over
September and the past nine months presented by ministries of planning
and investment, finance, and industry and trade, and forecast the future
national and global economic situation.


They agreed that the country’s national economy moved positively over the past nine months with GDP reaching 6.52 percent.


Exports
in nine months were estimated to rake in 51.5 billion USD, rising 23.2
percent over the same period in 2009 and nearly quadrupling the yearly
goal of over 6 percent set by the National Assembly.


Trade
deficit continued to be narrowed to stand at 8.58 billion USD, which
accounted for 16.7 percent of export value, or the lowest level in the
past years.


The cabinet members were concerned about an increase
of 1.31 percent in consumer price index (CPI) in September, which made
CPI grow 6.46 percent compared to December, 2009 and 8.64 percent year
on year.


Also at this meeting, the cabinet members listened and
gave opinions to reports on Vinashin’s business and production
performance, land use plans for the 2011-2015 period and to 2020, and a
summary of government members’ opinions on a draft decree to replace
Decree 62/2006/ND-CP on sanctions against administrative violations in
the maritime sector./.

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Wednesday, December 8, 2010

HCM City meets socio-economic targets

HCM CITY — HCM City has reached its socio-economic targets that were set during the first nine months of this year, city leaders told a meeting held in the city on Thursday.

According to figures from HCM City Department of Planning and Investment, the city GDP for the period is more than VND304.5 trillion (US$15.9 billion), an increase of 11.2 per cent over the same period last year.

The service sector accounted for 53.6 per cent, a surge of 11.2 per cent; industry and construction 45.5 per cent, a rise of 11.2 per cent; and agriculture 0.9 per cent, an increase of 6 per cent, compared to the same period last year.

Total revenue for retail products and the service sector reached VND270 trillion ($14.06 billion), a 31.2 per cent rise over the same period last year.

Other figures such as industrial and agricultural production value, tourism revenue, consumer goods and passenger transportation and banks' mobilised capital have surged considerably compared to last year.

During the first nine months, the total export turnover of the city, excluding crude oil, reached $12.126 billion, an increase of 10.7 per cent over last year.

However, the total import turnover reached nearly $15.5 billion, a rise of 12.6 per cent.

In addition, the total city budget reached nearly VND11.7 trillion ($600 million), an increase of 26.2 per cent.

Total investment capital reached VND95.2 trillion, an increase of 17.7 per cent.

At present, the city has 216 licensed foreign direct investment (FDI) projects with a total investment capital of more than $1.63 billion.

The city has attracted about VND46 trillion in Official Development Assistance (ODA).

During the last nine months, HCM City has offered jobs for 222,500 labourers, reaching 82.24 per cent of the target set.

The number of poor households has fallen to 7.1 per cent of the total population.

New targets

The city has proposed eight solutions to ensure socio-economic targets this year.

The city will continue to operate the programme to stabilise prices for essential products, and improve the management and oversight of the market in the city.

The city will also promote trade and urge companies to hasten the speed for disbursement of projects or works whose capital is sourced from the city budget.

It will continue to reform administrative procedures, creating the most favourable conditions for residents and businesses.

It will also ensure food safety and hygiene as well as disease prevention.

HCM City has also set a target for 2011.

For example, it will continue to increase the quality and competitiveness capacity of the economy in the context of global integration.

It will mobilise all parts of the society to invest in and develop infrastructure as well as protect the environment.

In 2011, it targets to increase the GDP by 12 per cent, exports by 11 per cent.

Total capital for socio-economic development will reach VND200.4 trillion, and the city budget will reach VND160.5 trillion. The city also aims to focus on foreign affair activities and improve the standard of living for its residents. — VNS

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Tuesday, November 30, 2010

Nation must ‘ensure balanced development'

by Mi Bong

Tam Binh Street in HCM City's Thu Duc District is flooded after heavy rains. Experts say Viet Nam should take more steps to minimise the impacts of climate change when formulating its socio-economic plans. — VNA/VNS Photo Trang Duong

Tam Binh Street in HCM City's Thu Duc District is flooded after heavy rains. Experts say Viet Nam should take more steps to minimise the impacts of climate change when formulating its socio-economic plans. — VNA/VNS Photo Trang Duong

HCM CITY — Viet Nam should ensure that its economic and social needs are balanced, and that its development vision is long-term, experts said at a conference in HCM City on Tuesday.

While agreeing that the priority should be accorded in coming years to maintaining macroeconomic stability and sustaining the growth momentum, both national and international experts said this cannot be achieved at the expense of the natural environment.

The impacts of climate change on socio-economic development were also discussed at the two-day seminar organised by the United Nations Development Programme, Viet Nam's Academy of Social Science and the Committee for Economic Affairs of the National Assembly.

Do Hoai Nam, chairman of the Viet Nam Academy of Social Science, said the nation should develop long-term strategies that take into consideration the world economic situation in the future and its likely impacts on the Vietnamese economy.

Referring to the overall socio-economic development goals for the 2011-15 period with a vision to 2020, Nam said key tasks included inflation control, effective implementation of monetary and fiscal policies, land law amendments, and policies for developing high-quality human resources.

"A social security system that covers the entire country, especially its remote areas, is also vitally important," he said.

He called on the State Bank of Viet Nam to follow a cautious monetary policy to control credit growth and money supply. The central bank should also continue improving its capacity to supervise the financial-monetary system effectively, he added.

Climate change

Measures to protect the environment and cope with climate change were vital for sustainable economic development, he said.

Nam also stressed the important role of State management in the economic restructuring process.

John Hendra, United Nations Resident Coordinator in Viet Nam said in the current domestic and international context, achieving the two objectives of stability and growth required monitoring of all relevant indicators, including inflation, exchange rate, the level and structure of public debt, and the amount of foreign reserves.

"While we all recognise the importance of macroeconomic stability and growth, it is also important to recall that sound development is one that balances economic and social needs," he said.

He also spoke of the need to strengthen links between the National Assembly and research institutions, academic circles and individual experts.

In the first nine months of this year, Viet Nam has seen some recovery from the economic downturn. The GDP grew by 6.4 per cent in the second quarter, up from 5.83 per cent in the first, with sustained high monthly industrial output growth rates of over 14 per cent compared to the same period of last year, the seminar noted.

Inflation has cooled down in the second and third quarter. The accumulative inflation rate was 4.99 per cent till the end of August, possibly enabling the containment of annual inflation rate within the target range of 8-8.5 per cent.

Deficit concerns

However, the lending rate of over 13 per cent has created difficulties for businesses in a market that is not expanding rapidly, speakers noted.

Macroeconomic stability could be threatened if inflation is extended alongside increased pressure of trade deficit, foreign exchange and possible widening of the budget deficit, according to the speakers.

Over the last 10 years, public investments, including State budget investments and investments by State-owned enterprises have increased significantly, absorbing a lot of credit and making it very difficult to curb budget deficit, experts noted.

Vo Dai Luoc of the Viet Nam Asia-Pacific Economic Centre suggested that Viet Nam prioritises development of the private sector as a key motivating force for national economic development; and also ensure greater transparency in its financial system.

Nguyen Minh Phong of the Ha Noi-based Academy of Economic and Social Development Research said the adjustment of exchange rates effected in the recent past was necessary and correct as a measure to curb inflation.

He said that in the coming time, there was a need to adjust the exchange rate flexibly according to market situations. Businesses need to watch out for exchange rate fluctuations and accommodate them in their dealings to avoid losses, he said. — VNS

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Tuesday, October 12, 2010

Gov’t leader calls on investors to Mekong Delta

Gov’t leader calls on investors to Mekong Delta

The Government of Vietnam always encourages, protects and creates
favourable conditions for organisations and individuals both in and
outside the country to invest in Vietnam and the Mekong Delta
region in particular.


Prime Minister Nguyen Tan
Dung delivered this message at a conference on investment and
development in the Mekong Delta, which opened in Can Tho city on Sept. 6
with the attendance of more than 700 domestic and foreign delegates.


The leader said he hoped that the conference would
serve as an opportunity for concerned agencies and the business
community to update Vietnam ’s investment policies, projects calling
for investment, as well as obstacles hindering business and investment
activities.


PM Dung urged the regional cities and
provinces to work closely together on mechanisms and policies to attract
more investment, fully tap local potential and strengths and mobilise
all internal and external resources so as to further foster the region’s
socio-economic development and improve local people’s living
conditions.


The government has always paid special
attention to the Mekong Delta’s development through support and
facilitation policies such as a socio-economic development scheme until
2015 with a vision through 2025 and a construction plan for the region
until 2020 with a vision through 2050, he said.


The
government also approved a plan to turn the Mekong Delta into a key
economic region, under which the region is defined as a centre for rice
growing, aquaculture and aquatic product processing of the whole country
and a major hub of energy, the PM added.


The Mekong
Delta encompasses 13 cities and provinces which cover an area of 4
million hectares and boast a population of approximately 18 million,
accounting for 21 percent of the country’s total population.


The region shares a 330-km border with Cambodia and has a 700-km
coastline and territory waters of 360,000 sq.km. It contributes around
18 percent to the nation’s gross domestic product (GDP) each year.


The Mekong Delta is the largest rice granary and aquaculture region in
Vietnam , making up 50 percent of the country’s rice output and 52
percent of the aquatic product volume. It accounts for up to 90 percent
of the nation’s rice export volume and 60 percent of the aquatic product
export turnover each year.


During the 2006-2010
period, the region has recorded an annual average GDP growth rate of
between 10-12 percent, of which industry and service have contributed an
increasing proportion.


It has also reaped a broad
range of achievements in terms of infrastructure, health care, education
and poverty reduction, while maintaining national defence, security and
social order.


However, the region is still facing
shortcomings and challenges, including the tardy application of
scientific and technological advances in production, the poor
competitiveness of products and businesses, the shortage of high-quality
human resources and the ineffective attraction of foreign investment./.

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Thursday, September 30, 2010

PM commits to reaching year's economic goals

Workers align a rotor for the Son La hydroelectric facility. Development of electrical resources is one of the key targets in the Government's socio-econmic plan. — VNA/VNS Photo Ngoc Ha

Workers align a rotor for the Son La hydroelectric facility. Development of electrical resources is one of the key targets in the Government's socio-econmic plan. — VNA/VNS Photo Ngoc Ha

HA NOI — Prime Minister Nguyen Tan Dung yesterday urged the Government to do its utmost to achieve the year's socio-economic goals.

Despite positive progress in its economic development plan, the country's economy was still facing challenges on its way to reaching the targeted socio-economic aim, PM Dung said yesterday at the Government's monthly meeting.

Government officials gather every month to review the socio-economic development of the month and discuss measures to stabilise the macro-economics, restrain inflation and ensure the social security for the rest of the year.

The Ministry of Planning and Investment reported that the first eight months of the year.

The industrial production continued to grow,increasing by 15.2 per cent compared to the same period last year, and the trade gap slightly decreased, the ministry said in its report.

Meanwhile, the month's consumer price index grew by 0.23 per cent over the previous month.

Good co-ordination among sectors and localities had helped agriculture improve and kept pandemics under control despite the negative impact of floods and storms, the Ministry of Planning and Investment reported.

Social security had been ensured and people's living standards had been lifted, the ministry reported.

Nevertheless, the Government pointed out shortcomings of the economy, which needed to be made good.

The domestic economy was facing the negative impact of the global market's increasing prices, especially in the last quarter of the year, Government officials said.

Firms and enterprises were still ineffective in mobilising capital sources as bank loan interest rates remained high. Epidemic diseases were at a critical point and still threatened to seriously affect production and people's lives.

The officials also discussed ways to effectively implement the socio-economic development plan next year and in the coming five years.

One of the most discussed issues was how to develop the electricity industry.

The officials agreed on a plan to introduce an open and favourable mechanism to boost electricity production. The Government would favour the socialisation of the industry, calling on the involvement and investment of all economic sectors.

Together with implementing hydro-power projects, the Government would boost the development of natural-energy generated power programmes.

Dung asked the Ministry of Industry and Trade to focus on producing electricity to avoid shortages of power, with Government playing the key role in the field with the support of all sectors. He asked the Government to set the economic growth for the next year at 7.5 per cent.

While the Government was expecting to see its GDP grow at 6.5-7 per cent this year, the consumer price index should be maintained at 7 per cent to make sure the macro-economy stabilised, he said, and the excess of imports over exports was to be kept below 18 per cent.

Dung said policies to support the nation's key programmes would be introduced and the new rural development plan would be on the next five years' economic plan.

In discussion of the 2011-15 economic plan, Government officials said the guarantee of social security should be the key factor. They asked that ministries and sectors review their own targets to set out the single goal for the country.

Special attention needed to be paid to environment protection work and sustainable development, the officials said, adding that the tasks of addressing climate change would also need great effort. Government confirmed its commitment to administrative reform and equitisation in State-run enterprises. — VNS

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Thursday, August 19, 2010

Plans on socio-economic development are crucial

HA NOI — Building the right development strategy for the future and mobilising resources for its implementation were critical steps for the future of the nation, Prime Minister Nguyen Tan Dung said here yesterday.

He was addressing a senior policy seminar on a draft of the National Socio-Economic Development Strategy (NSDS) for the next 10 years.

The seminar was attended by senior policymakers, representatives of research and business communities and development partners.

Dung said Viet Nam was preparing for rapid and sustainable growth to enable it to continue the growth resulting from 20 years of the doi moi (renewal) process.

He said the nation had recently crossed the per-capita income threshold to become a lower-middle-income country and now planned to become fully industrialised by 2020.

Dung said the development model that Viet Nam had relied on since doi moi was launched had led to rapid economic growth.

During this period, per-capita income had grown almost 10-fold – from less than US$100 a year in 1990 to about $1,200 in 2010. The poverty rate had also fallen from 58 per cent in 1993 to 14.5 per cent in 2008.

However, he said Viet Nam was facing challenges that had arisen from this rapid growth and improved status.

Dung's remarks were echoed by the president of the Viet Nam Academy of Social Sciences (VASS), Do Hoai Nam, who said the challenges Viet Nam faced in leaping over the ‘middle-income trap' were fierce.

He said the economic infrastructure was not well developed. Neither were urban and rural areas. The economy needed strengthening in specialised areas, there was only a small number of skilled workers, and the standards of science and technology were low compared to the region.

Nam said that to improve the situation, Viet Nam had to keep implementing its vision until 2050. "We need to specify catch-up strategies for every 10-year period," he added.

The national strategy is one of the most important documents guiding socio-economic development during the next two five-year plans. It is expected to be endorsed by the 11th Party Congress in January.

The Academy of Social Sciences will co-ordinate analytical inputs from research communities in and out of Viet Nam to provide inputs for the strategy. The World Bank will provide technical assistance to support substantive research-based evidence for senior policy makers and researchers.

Dung said that a draft of the strategy had been sent to all ministries, sectors and localities as well as big international organisations in Viet Nam to gather feedback.

He said the main objective of the strategy was for Viet Nam to become a modern industrialised country by 2020.

By 2020, GDP per capita was expected to reach about US$3,200 and real incomes about three-and-a-half times higher than at present.

The new strategy was based on five main viewpoints, said Dung. One of them was rapid development closely allied with sustainability. Democratic practices and optimal use of human resources were other key foundations.

He added that people were to be considered the main subject of the planned development - and the main resource.

Developing an increasingly independent and self-controlled economy in the context of broader international integration was also important.

Dung said the strategy aimed for three breakthroughs. These were the improvement of the socialist-oriented market economy, the quick development of human resources, and the building of a synchronised infrastructure.

The strategy highlighted the need to focus on improving the efficiency of State management.

Dung said the nation actively promoted the sharing of experiences on an international basis, strengthening resources and creating a suitable environment for national development.

The seminar led to a set of recommendations on the strategy to the Government. — VNS

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