Deputy PM Vu Van Ninh: Financial forecast capacity needs improvements

Deputy PM Vũ Văn Ninh on Monday urged the National Financial Supervisory Commission to further improve its forecast and monitoring capacity.

Deputy PM Vũ Văn Ninh at a working session with the National Financial Supervisory Commission, August 29, 2011

The Deputy PM stressed the importance of input data, noting that these figures help the Commission to well perform its mission as an advisory agency.

As the domestic input data come from different ministries and sectors, it needs compulsory coordination regulations between the commission and ministries-sectors, Deputy PM Ninh said.

He asked the commission to expand research and forecast of developments in the domestic and international markets so as to come up with better advisory ideas.

The Commission has established a system of financial safety criteria based on international standard in order to evaluate and prepare supervisory reports on Việt Nam’s financial market and financial groups (with two periodical publications every year).

The reports focused on analyzing and valuing the domestic and foreign financial markets and impacts on domestic financial market, and forecasting and issuing warnings of risks against the national financial market and big financial groups.

Besides, the Commission also evaluates and analyzes the macro-economy to put forth suggestions to the Prime Minister.

Hải Minh

(Theo website Vũ Văn Ninh)

Deputy PM Vu Van Ninh: Planning, forecast quality asked to be improved

Deputy PM Vũ Văn Ninh has asked the Ministry of Planning and Investment (MPI) to further improve its planning, forecasting and statistical work, seeing it as a focal task in the coming time.

On August 25, Mr. Ninh had a working session with the MPI to review its performance in the first 8 months of this year and initiate works to be done in the remaining months.

Deputy PM Vũ Văn Ninh said it is necessary to clearly define the MPI as the general staff for the Government in economy’s running

The focal tasks of the MPI in the remainder of 2011 include completing socioeconomic development plans for 2012 and the 2011 – 2015 period and the Government’s action program on implementing the 11th Party Congress’ Resolution, and presiding the review of the Government’s implementation of Resolution 11.

Deputy PM Vũ Văn Ninh said the MPI should actively provide the people with correct information so that they fully understanding the Government’s orientations and policies.

He also asked the MPI to re-appraise planning works to help the Government decide the scope of doing planning to be done by localities.

By Ngọc Vân

(Theo website Vũ Văn Ninh)

Deputy PM Vu Van Ninh: The monetary policy adoption of the State Bank is good

It is necessary to adopt flexible measures to realize the Resolution 11’s goals of curbing inflation, stabilizing macro-economy and ensuring social security, Deputy PM Vũ Văn Ninh said when working with the State Bank of Việt Nam on August 25.

Deputy PM Vũ Văn Ninh: “The recent monetary policy adoption of the State Bank of Việt Nam is good, showing many bright spots

The central bank’s focal tasks in the remaining months of this year are continuing to implement tight but flexible monetary policies, paying special attention to ensuring the liquidity and safety of credit systems; and keeping on using policy tools effectively to lessen inflation pressures and lower interest rates gradually.

To this end, the central bank will take synchronous measures, including regulating money supply, ensuring the credit growth of below 20% and foreign exchange liquidity, increasing foreign reserves, keeping basic interest rates unchanged, considering lower interest rates in case of deflation, continuing to keep the ceiling mobilization interest rate of 14%, and trying to remove the cap if possible.

Congress overview

Regarding the gold market, the State Bank of Việt Nam is building up a scheme on stabilizing gold prices in the short term, mobilizing gold in society to increase foreign reserves, and submitting to the Government a draft decree on gold production and trade management.

The central bank will try to help keep inflation in 2012 at one-digit rate, total payment rise of 17-19%, and total outstanding loan increase of 18 – 21%.

Concluding the working session, Deputy PM Vũ Văn Ninh said the central bank has recently done its tasks well, helping curb inflation and stabilize macro-economy.

By Ngọc Vân

(Theo website Vũ Văn Ninh)

Minister of Finance Vu Van Ninh appointed as Deputy Prime Minister

On August 3, 2011, with more than 80% of the votes, the National Assembly ratified the nomination of 4 Deputy Prime Ministers Nguyen Xuan Phuc, Hoang Trung Hai, Nguyen Thien Nhan and Vu Van Ninh. Newly-appointed Deputy Prime Minister (DPM) Vu Van Ninh (56 years old, native place Nam Dinh province) holds a Master degree in Budget Financing, Business Administration, and is Member of the Party Central Committee’s 10th and 11th Tenures, Member of the 12th and 13th National Assemblies. He is the former Minister of Finance.

In his talks with the press during the National Assembly’s Plenary Meeting, DPM Vu Van Ninh said the 11th Party Congress determined on 3 strategic breakthroughs including synchronous infrastructure development with a view to creating a favorable environment for production growth as well as for the sake of the people’s well-being. This is a major mission of the country.

Deputy Prime Minister, Former Minister of Finance Vu Van Ninh granted the Emulation Flag to SCIC on the occasion of SCIC's 5-year review ceremony

DPM Vu Van Ninh also emphasized that to mobilize powerful resources, firstly, the State capital is an important channel for investment determination. In addition, other resources in the society also need to be mobilized through a mechanism which facilitates the co-investment of all economic sectors, non-state enterprises together with common people.

Secondly, we also need to take advantage of foreign financing sources to invest into areas prioritized for investment by the State. This should nevertheless be on the basis of ensuring the national finance security; to be more specific, we need to carefully select each area and project for investment, added Ninh.

Concerning tax measures, DPM Vu Van Ninh said the overall goal of tax measures is to boost business growth, not to cause further difficulties to enterprises and the people.

He also added that in the coming time, tax levy management practices will focus on loss prevention, guarantee of fairness and earnings increase to the Budget. Effective performance of these guidelines will assist enterprise’s and person’s efforts in capital accumulation for developing and improving business efficiency, creating sustainable sources of income.

In the context of various changes and challenges of the world economy, DPM Ninh said the new Government will be faced with both opportunities and threats. Threats come from internal conditions of the national economy which cannot be surmounted in a short while. A reasonable scheme with integrated solutions and high consensus of the whole Party and people is therefore strongly required.

Source: Chinhphu.vn

(Theo website Vũ Văn Ninh)

Minister of Finance Vu Van Ninh visits to Quang Binh province

Justice Minister Ha Hung Cuong, together with Minister of Finance Vu Van Ninh, Minister of Transport Ho Nghia Dung and Minister of Trade and Industry Vu Huy Hoang, on July 16 paid a working visit to Quang Binh province.

Minister of Finance Vu Van Ninh visits to Quang Binh province

The delegation was sincerely welcomed by Mr. Luong Ngoc Binh -Secretary of the Quang Binh Provincial Party Committee andChairman of Provincial People’s Council and Mr. Nguyen Huu Hoai – Deputy Secretaryof the Quang Binh Provincial Party Committee and Chairman of People’s Committee.

Addressing at the meeting, the Ministers appreciated the province’s gained achievements and expressed the hope that Quang Binh would strive to escape from the poor province status and basically become a developed province in the region.

On behalf of the provincial leaders, Mr. Luong Ngoc Binh promised to study the ministers’ guidances and took measures to successfully implement the 11^th Party Congress Resolution and the 15th Provincial Party Congress Resolution.

In the afternoon of the same day, Minister Ha Hung Cuong, Minister Vu Van Ninh and Mr. Vu Huy Hoang offered incense to commemorate the heroic martyrs at Quang Tri Old Citadel and visited Road No.9 Cemetery and the National Truong Son Martyrs‘Cemetery./.-ITD

(Theo website Vũ Văn Ninh)

Deputy PM Nguyen Thien Nhan: VN to soon complete human resources development

The Ministry of Planning and Investment must submit a report on a draft master plan of human resources developThe Ministry of Planning and Investment must submit a report on a draft master plan of human resources development for 2011-2020 no later than May 24.ment for 2011-2020 no later than May 24.

Deputy PM Nguyễn Thiện Nhân (3rd from left) chairs a meeting with relevant ministries and agencies to discuss the draft master plan of human resources development for 2011-2020, Hà Nội, May 17, 2011 – Photo: VGP

Deputy PM Nguyễn Thiện Nhân made the request on Tuesday at his meeting with relevant ministries and agencies to discuss the draft document which has been developed during the past months.

The important master planning scheme will be discussed at the Government’s regular meeting at the end of this month.

The purpose of the scheme is to concretize the Việt Nam Strategy for 2011-2020 socio-economic development in term of human resources to make sure that Việt Nam would have a skilled labor force by the next decade, said Deputy PM Nhân.

By Hải Minh

(Theo website Vũ Văn Ninh)

Deputy Prime Minister Nguyen Thien Nhan receives int’l guest

Deputy PM Nguyễn Thiện Nhân on April 20 received Minister, head of the Chinese State General Administration of Sports (SGAS) Liu Peng who is on a working visit to Việt Nam.

Deputy PM Nguyễn Thiện Nhân (5th from L) takes photo with Chinese guests, Hà Nội, April 20, 2011 – Photo: VGP/Từ Lương

Deputy PM Nhân said that the working visit would contribute to deepening the friendly ties between Việt Nam and China.

He also spoke highly of the Chinese assistance for Vietnamese athletes and officials, particularly in learning new experience from China, one of the leading sports centers in the world.

The Deputy PM also hoped that China would continue grant support to Việt Nam on personal training, and to help the country in hosting of the 18th Asian Games in 2019.

Minister Liu Peng hailed Việt Nam for scoring great progresses in international sports events and pledged to send experts and coaches to help Việt Nam improve their results at regional and international competitions./.

By Khánh Phương

(Theo website Vũ Văn Ninh)

Deputy PM Nguyen Thien Nhan: Education link with China to get a boost

Viet Nam and China will develop detailed programmes to boost educational co-operation in the near future, especially with Hunan Province.

The agreement was reached during Deputy Prime Minister Nguyen Thien Nhan’s reception of Deputy Secretary of the Hunan Provincial Party Committee Mei Kebao in Ha Noi yesterday.

Deputy Prime Minister Nguyen Thien Nhan (R) and Deputy Secretary of the Hunan Provincial Party Committee Mei Kebao.

Nhan affirmed that the special friendship founded and fostered by President Ho Chi Minh and President Mao Zedong would be ceaselessly strengthened and developed by the two governments and peoples, including Hunan locals.

He said that about 15,000 Vietnamese students in Chinese localities would become an important bridge to promote bilateral co-operative ties.

Mei said that despite being distant from Viet Nam, Hunan Province always had deep sentiments for the Vietnamese people, evidenced by the twinning between Hunan and Nghe An provinces – the respective lands of Presidents Mao Zedong and Ho Chi Minh – affirming the traditional friendship between the two peoples in general and the two localities in particular.

He affirmed that Hunan Province would provide support to Viet Nam to develop human resources, adding that many Vietnamese students received scholarships from Hunan authorities to study tourism and trade in local universities and colleges.

The same day, five investment and trade projects worth US$36.7 million were signed by Hunan businesses at the Viet Nam-Hunan trade and investment co-operation forum.

Agreements were signed for projects in waste treatment, assembly of passenger car body work, machinery for mining minerals and oriental herbal medicine.

Mei said Hunan businesses chose Viet Nam as their first destination for investment and co-operation during the Hunan – Southeast Asia Week to be held this year to mark the 20th anniversary of the ASEAN-China dialogue relations.

Last year, two-way trade between Viet Nam and Hunan reached $250 million. At present, Viet Nam is Hunan’s largest partner in the Southeast Asia region.

PV

(Theo website Vũ Văn Ninh)

Deputy PM Nguyen Thien Nhan receives President of Chicago University

Deputy PM Nguyen Thien Nhan received US. Professor Robert J. Zimmer, President of the University of Chicago on March 9.

Deputy PM Nguyen Thien Nhan hoped that the University of Chicago will provide more cooperative programs for Vietnamese scientists, following the agreement on scientific research cooperation between the US-based university and Việt Nam National University in Hà Nội.

Deputy PM Nguyễn Thiện Nhân (R) receives US. Professor Robert J. Zimmer (L), President of the University of Chicago, Hà Nội, March 9 – Photo: VGP

The Deputy PM Nguyen Thien Nhan stressed that the Vietnamese Government always attaches importance to cooperate with world’s well-known universities in scientific research, and committed to support the cooperative agreements between Việt Nam National University and the University of Chicago.

The host expected that the University of Chicago will create favorable conditions for Vietnamese students to study in the US, especially in such fields as physics and math.

The University of Chicago is now home to Vietnamese Fields medal professor Ngô Bảo Châu, who joined the University’s math faculty since September 1, 2010.

By Thùy Dung

(Theo website Vũ Văn Ninh)

Deputy Prime Minister Nguyen Thien Nhan in Japan

Japan considers Vietnam a strategic partner in Asia and will continue to help the country develop several large infrastructure projects, an official said Tuesday.A record pledge of aid to Vietnam in the midst of the economic crisis last year has demonstrated this stance, Seiji Maehara, Minister of Land, Infrastructure, Transport and Tourism, said at a meeting with Vietnamese Deputy Prime Minister Nguyen Thien Nhan, who was visiting Japan.

Seiji Maehara, Japanese Minister of Land, Infrastructure, Transport and Tourism (L) meets Vietnamese Deputy Prime Minister Nguyen Thien Nhan in Japan

Japan will assist Vietnam in building national highways, a new terminal in Noi Bai Airport and a drainage project in Ho Chi Minh City, Maehara was cited by the Vietnamese government’s website as saying.

He also announced that Japan has agreed, in principle, to allow national carrier Vietnam Airlines to open a direct route from Vietnam to Haneda International Airport in the capital city of Tokyo.

Japan approved a record amount of aid to Vietnam of 145.631 billion yen (US$1.64 billion) for the 2009 fiscal year. The country has been committed to 28.388 billion yen ($306 million) of foreign aid for Vietnam in the first phase of the 2010 fiscal year, according to the Vietnam News Agency.

Deputy Prime Minister Nguyen Thien Nhan expressed thanks to Japan for offering loans to Vietnam and helping develop major projects that are vital to the country’s development.

Nhan was visiting Japan to attend the 16th International Conference on the Future of Asia.

PV

(Theo website Vũ Văn Ninh)