The Primer Minister has approved eight projects that will use Japanese Official Development Assistance (ODA) for the first phase this fiscal year.
They are the Ben Thanh – Suoi Tien metro route in HCM City, Thai Binh 1 thermal power plant and transmission grid system, infrastructure for the Hai Phong International Port, bridge and roads for the port, Da Nang – Quang Ngai Highway, improvement of water bodies in HCM City (second phase), climate change adaption support programme, and a programme to support economic management and increase competitiveness.
The Primer Minister has asked the Ministry of Planning and Investment to send a diplomatic note to the Japanese Government for providing finance for the projects.
Nhan Dan (The People)
Post restructuring, forestry exports double
In the last two years when it has been revamped, the forestry sector has achieved the highest annual growth rate of all sectors of 9 – 10 per cent.
The restructure has helped the sector expand its export market and double exports from $3 billion a year in 2010-2012 to $6.2 billion in 2013-2014. This year the sector expects to achieve a turnover of $7 billion.
Afforestation has also got attention. In the last 2 years 400,000 hectares of forest have been planted. Forest-related services have become a sustainable source of finance for the forestry sector with a turnover of VND1.2 trillion ($56 million) a year.
Sai Gon Giai Phong (Liberated Sai Gon)
Power demand hits record high in heat wave
The Viet Nam Electricity Corporation reported that electricity demand shot up to a record of 535 million kWh on July 2 amid a heat wave that has sent temperatures in most parts of the northern and central regions soaring to 39 – 40 degrees Celsius.
Ha Noi accounted for 64.6 million kWh, exceeding HCM City, which is often the top consumer.
The surge in demand has caused pressure on power generation and transmission, with the northern region facing an overload.
Tuoi Tre (Youth)
Manufacturing heads export growth
According to an HSBC Viet Nam report on the economy, the manufacturing sector has spearheaded 18 per cent year-on-year growth in exports in June.
The report noted that Viet Nam's exports to the US would jump due to the Trans Pacific Partnership thanks to its cheap, abundant labour.
The report also said Viet Nam's GPD is expected to grow faster in the next few years.
Nguoi Lao Dong (The Labourer)
VN products faked in rural areas
The Ministry of Industry and Trade said many knock-offs of Vietnamese products have been discovered in rural areas.
In the past most fake goods would be imitations of foreign products, but now the situation has changed and would surely impact the development of local firms, it said.
It plans to promote Vietnamese brands and co-operate with relevant authorities to stamp out fakes and imitations, it said.
Exhibitions to showcase high-quality local products would be organized in HCM City, Ha Noi and Da Nang in August, September and October, it said.
Thanh Nien (Young People)