High costs causing woes to business performance
Wednesday, 2021-05-12 13:25:45
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NDO - Though Vietnam has been making major efforts to ameliorate administrative procedures in the aim to lure in more investment and spur on businesses’ confidence, a series of obstructions still remain, hampering the country’s efforts to realise its national development goals.
Nguyen Van Dung, director of a Chinese-invested auto-manufacturing firm in a northern province near Hanoi, has spent two years and a big bribe for local officers to accomplish construction-related procedures before placing the US$50 million project into operation.
“All procedures have been very complicated, and I have had to pay unofficial costs for the officers in a bid to have my project approved. Completing investment-related procedures, in addition to construction permits, has become a big obsession for enterprises and investors,” Dung said, refusing to name his compan
Analysis
The Vietnamese government has estimated that following a rapid pre-pandemic rise in passenger numbers, the requirement for airport infrastructure during the next five years will be twice what it was in the past five years.
Airports Corporation of Vietnam (ACV) reports that VND25 trillion (USD1 billion) has been invested in expanding airport infrastructure over the past five years to support passenger and cargo growth, but that it will need approximately VND120 trillion (USD5.2 billion) from 2021 to 2025 to complete infrastructure projects.
Vietnam s passenger and cargo traffic increased by an average of 17% and 13% respectively from 2012 to 2019.
However, there are questions about the selection of infrastructure projects, their geography, and whether traffic forecasts have been exaggerated.
At a conference reviewing the three years of implementation of Government Resolution 120 dated November 17, 2017 on climate resilient and sustainable development of Mekong River Delta, Prime Minister Nguyen Xuan Phuc talked about a new strategic viewpoint involving eight “Gs” on the development of the region.
General guards Lang Son border area for 27 years Chia sẻ | FaceBookTwitter Email Copy Link Copy link bài viết thành công
01/05/2021 16:00 GMT+7
It was very cold at that time. Commander Le Quang Dao in person brought bottles of warm ginger water to every unit of the frontier post. After that, he quietly walked along the railway to explore the terrain…
Major General Le Quang Dao (right) and DPRK s President Kim Jong Un in March 2019
Born in 1971 and gaining significant achievements in more than 30 years of military service, Major General Le Quang Dao, Deputy Commander and Chief of Staff of the Border Guard, is one of the young generals rich in energy and highly trusted by the army.
Investment in startups jumped by 34 percent year-on-year in the first quarter to $100 million, with foreign investors being dominant. - VnExpress International