Sustainable national development

The 13th National Congress of the Communist Party of Vietnam (CPV) will draw out measures for the CPV to lead the country’s post-pandemic recovery and foster its prosperity on the path to socialism, said Amiad Horowitz, a reporter of the People’s World and member of the Communist Party USA. … [Read more...] about 13th National Party Congress widely covered by international media

Therefore, the ministry has proposed the Prime Minister consider and adjust financial mechanisms to support the development of the fleet, including loans with preferential interest rates. Investment in a fleet of ships requires huge and long-term capital, while local enterprises are unlikely to be able to invest in high-quality fleets, according to Deputy Minister of Transport Nguyễn Nhật. The shipping companies have received very little financial support from the Government in the past few years to carry out fleet development. Interest rates on bank loans in Việt Nam are from 8-10 per cent per year, higher than interest rates in other countries such as Japan (1-2 per cent), Singapore (3 per cent) and China (4.5 per cent). At the same time, when registering a ship to fly the Vietnamese flag, the enterprise must carry out procedures on importing ships and have to pay taxes and fees such as registration fee, value-added tax and import tax on ships. Some ship owners … [Read more...] about Shipping industry needs State support to develop: ministry

Vietnamese enterprises have delivered and received goods at Vietnamese ports, so the right to hire vehicles is undertaken by foreign partners, Vietnamese shippers depend entirely on foreign shipping companies and are forced to pay surcharges implemented by those shipping companies, according to Nhat. … [Read more...] about Shipping industry needs State support to develop: ministry

United Nations: India's economy is estimated to contract by 9.6 per cent in 2020, as lockdowns and other containment efforts to control COVID-19 slashed domestic consumption without halting the spread of the disease, and the growth is expected to recover and grow at 7.3 per cent in 2021, according to a UN report on Monday. In 2020, the world economy shrank by 4.3 per cent, over two and half times more than during the global financial crisis of 2009. The modest recovery of 4.7 per cent expected in 2021 would barely offset the losses of 2020, said the latest World Economic Situation and Prospects released by the UN. In South Asia, the pandemic severely impacted most economies in the region, dragging down average GDP by -8.9 per cent in 2020. India, in particular, suffered its largest economic decline in history, with output falling by nearly 10 per cent in 2020. "India's economic growth has fallen from 4.7 per cent in 2019 to -9.6 per cent in 2020, as lockdowns and other containment … [Read more...] about Indian economy estimated to contract by 9.6% in 2020: UN report

In the East of England cases were up two-thirds and hospital admissions up by nearly half in the past week, he added. The formal review comes after ministers were forced to move London and parts of Hertfordshire and Essex into the highest tier last week after infection rates rose dramatically. … [Read more...] about New Year lockdown looms: Boris Johnson warns over ‘reality’ of surging cases as ministers consider fresh squeeze on commuting and non-essential shops in England – despite claims cases will FALL over Xmas