There are nine key tasks that must be accomplished in 2019-20 to restructure Viet Nam’s economy, according to the Minister of Planning and Industry Nguyễn Chí Dũng.– VNA/VNS Photo HÀ NỘI – There are nine key tasks that must be accomplished in 2019-20 to restructure Viet Nam’s economy, according to the Minister of Planning and Industry Nguyễn Chí Dũng. Minister Dũng told the National Assembly on Monday afternoon that the Government needed to improve the mechanisms of the market-oriented economy to restructure the economy. Private companies and people must be empowered and given more incentives and reductions in taxes and administrative procedures to nurture their business development, he said. Secondly, a competitive market must be built on two main pillars: better allocation of resources for the private sector and better practice of property rights, Dũng said. In addition, the Government has to improve … [Read more...] about NA talks key tasks for next stage of economic growth
3 economic problems and solutions
FRACKING has been an endless source of controversy in recent years, with environmental concerns hampering attempts to establish the practice in the UK. The drilling technique is already banned in Scotland – but how does it work and why has it sparked such debate? What is fracking and why is it controversial? Fracking, or hydraulic fracturing, is a technique for recovering gas and oil from shale rock. It works by drilling into the earth before injecting water, sand and chemicals at high pressure into the rock to release the gas inside. After first being approved for commercial use in 1950, it has been extensively used in the US, where it is credited with boosting oil production and driving down petrol prices. While the natural gas extracted from fracking produces significantly less carbon dioxide than other fossil fuels, such as coal, the technique has faced widespread condemnation from environmentalists. One concern surrounds the sheer quantity of water required to complete the … [Read more...] about What is fracking, why was it banned in Scotland and where is the drilling technique being used in the UK?
Chairwoman of the Vietnamese National Assembly Nguyen Thi Kim Ngan attended the opening ceremony of the MSEAP 3 in Antalya, Turkey, on October 9 (Photo: VNA) Antalya (VNA) - Chairwoman of the Vietnamese National Assembly (NA) Nguyen Thi Kim Ngan attended the opening ceremony of the third Meeting of Speakers of Eurasian Countries’ Parliaments (MSEAP 3) in Antalya, Turkey, on October 9. The event, themed “Economic Cooperation, Environment and Sustainable Development in Eurasia,” attracted the participation of 40 parliamentary delegations. At the opening, Turkish President Recep Tayyip Erdogan stressed that Eurasian parliamentary cooperation plays a very important role in promoting the cooperation and friendship for peace, friendship, stability and democracy among countries in the region and the world as a whole, particularly in the context of unpredictable changes in the world situation. Speaker of the Grand National Assembly of Turkey Binali Yildirim said the … [Read more...] about Vietnam’s top legislator attends opening ceremony of MSEAP 3
The discussion on October 3 of the 8th session of the 12th Party Central Committee was chaired by Prime Minister Nguyen Xuan Phuc (Photo: VNA) Hanoi (VNA) – The 12th Central Committee of the Communist Party of Vietnam discussed reports on socio-economic situation and State budget implementation in 2018 along with plans for 2019 during the morning session on October 3 under the chair of Prime Minister Nguyen Xuan Phuc. Most Party Central Committee members showed their approval of the reports by the Government’s Party Committee on socio-economic and budget performance in 2018 and plans for next year, while analyzing outstanding problems and recommending directions, targets and solutions for the time ahead. Deputy Defence Minister Sen. Lieut. Gen. Be Xuan Truong said in the context of complicated and unforeseeable situation both domestic and international from now to 2020, the most important thing is to make accurate forecast on future situation and decide … [Read more...] about Party Central Committee discuss socio-economic development
HÀ NỘI — Positive outcomes have been recorded in all economic spheres since the start of the year and the country notched its highest nine-month GDP growth rate since 2011, said Prime Minister Nguyễn Xuân Phúc as he chaired the Government’s monthly meeting on Monday. The PM said GDP grew 6.98 per cent in the period – the fastest nine-month pace since 2011, driven by the processing and manufacturing industry with an expansion of 12.65 per cent. The Vietnamese Government is aiming to achieve higher economic growth than the 6.7 per cent goal set by the National Assembly, he said. The macro-economy remained stable while inflation stayed under control as the consumer price index (CPI) rose by 3.57 per cent between January and September. Export revenue was estimated at US$179 billion, up 15.4 per cent, with exports by domestic firms up 17.5 per cent compared to the 14.6-per cent increase in the FDI sector. Twenty-six products … [Read more...] about Gov’t meeting highlights positive economic performance in 9 months