Vietnam in the week

PM resolves to restructure national economy

As part of the economic restructuring plan, public investments will be cut on ineligible projects

In his New Year’s message, Prime Minister Nguyen Tan Dung has shown the government’s determination to speed up economic restructuring, apply scientific and technological advances, and develop high quality human resources to revamp the economy.

The objectives of economic restructuring and growth model renovation are to increase the productivity, quality, efficiency and competitiveness of the economy on both domestic and international markets, enabling local producers to join in certain stages of the regional and global production network and value chain.

Slim hope for 22 Vinalines Queen crewmen

Dau Ngoc Hung, the sole survisor of the sunken cargo ship returned to Noi Bai airport

Vietnam has coordinated with the Philippines and Japan to search for 22 missing Vietnamese crewmen aboard the Vinalines Queen that sank off the coast of the Philippines on Christmas Day.

Both Japan and the Philippines dispatched patrol helicopters to scour the waters where the Vietnamese cargo ship sank off the Philippines’ Batanes province, but their efforts have not been rewarded.

Minister of Transport Dinh La Thang said Vietnam will do its utmost to find the missing crewmen.   

JP Morgan upbeat about Vietnam’s economy

 JP Morgan Chase Bank have predicted that the Vietnamese economy will achieve a higher degree of stability in 2012 than in 2011 and its tight policy has started to bear results.

They also predicted that Vietnam’s inflation will cool down, the balance of payments will be better supported, and its foreign currency reserves will increase.

Transport Ministry’s proposal stirs controversy

The Ministry of Transport’s (MoT) idea of collecting annual circulation fees from motorbikes and cars is ineffective and adds another burden on people, according to experts.

Under the proposal, circulation fees for personal vehicles will be imposed on motorbikes and cars in the five biggest cities in Vietnam, including Hanoi, HCM City, Danang, Can Tho and Haiphong.

Experts said such fees will only help increase State budget revenue while failing to reduce the use of personal vehicles. 

More vehicles burn up

Experts are trying to find out what are the causes of bike fires

More motorbikes and cars burned up this week, raising public concern about the quality of vehicles manufactured in Vietnam.

Relevant agencies got down to work on the causes of bike fires, and Minister of Transport Dinh La Thang said the Vietnam Register under the Ministry of Transport will take responsibility for these fires.

TV right dispute erupts

The VTC says it will broadcast live Super League matches with the VPF's permission

Dispute over the TV broadcast right continued to flare up after parties concerned - the Vietnam Football Federation (VFF), the Audio Visual Group (AVG), and the Vietnam Professional Football JSC (VPF) – have made their contrary claims.

VPF representatives sent documents to three ministries, requesting them to make clear the legality of the 20-year TV right deal between the VFF and the AVG.

The VFF confirmed that the AVG has the exclusive right to all professional football matches of Vietnam until 2030 under the signed deal.  

AVG representatives announced that TV stations will not be allowed to broadcast live these matches without the AVG’s permission.

The National Football Championship (Super League) kicked off last week and the AVG accused the Vietnam Multimedia Corporation (VTC) of breaking the copyright law because VTC broadcast live several matches without the AVG’s permission.