Most of Vietnam’s major projects in Chinese hands

[EastSea]

Most of Vietnam’s major projects in Chinese hands
8/7/2010 17:40

Chinese's predominant role in many of Vietnam’s major projects is sparking concerns among national officials.

Up to 90 percent of Vietnam’s Engineering - Procurement -Construction (EPC) projects are in the hands of Chinese contractors, said Pham Thi Loan of the National Assembly’s Finance and Budgets Committee, at a conference held Friday in Hanoi.

EPC contractors draft designs, procure necessary materials and oversee construction of an entire project. They are entitled to bring in their own labor force or subcontract work to Vietnamese firms.

Most of these projects pertain to oil and gas, chemicals, power, and textiles, Loan said at the conference.

Up to 30 Chinese companies have secured contracts for the country’s major projects, including energy deals worth of billions of dollars, according to VNExpress.

Vietnam will continue to invest in huge development projects, but “if Chinese companies continue to control major energy contracts, the nation's energy security will remain very disconcerting,” Loan was quoted as saying.

Economics expert Bui Kien Thanh attributes the dominance of Chinese contractors to complex bidding specifications. The large projects often require bidders to meet international standards. At the moment, he says very few Vietnamese companies are eligable for these jobs.

Thanh added that Vietnamese companies are rarely sub-contracted by the Chinese firms who are known for importing labor and materials.

Other experts have expressed concern that local manufacturers and laborers have not been given preference, leaving the door wide open for foreign companies to seek government business.

The experts alleged that a reliance on foreign contractors has put Vietnam at risk of adding to its trade deficit, which was the nation's biggest economic bugaboo this year.

According to the General Statistics Office, Vietnam’s trade deficit stood at US$7.4 billion over the past seven months, accounting for 19.4 percent of export turnover.

Last month the trade deficit reached $1.15 billion (or 19.8 percent of export turnover). The government, meanwhile, has previously expressed an interest in keeping that figure below 20 percent, VnExpress said.

You forget to report that Chinese contractors have to pay for compensation for damages in delay and low quality of facilities provided for the project in power plant in QuangNinh Provice, amount is 6 Mill US$.
No more Chinese contractor ! It's enough.

 

[blood]

Vietnamese economy is still the same as that report,south China sea oil is hard to get and hardly profitable,most western countries are reluctant to invest cause of the low margin and wont help any country a lot.you are very likely going to lose money there.so that doesnt change Vietnamese economy at all.

---------- Post added at 10:20 PM ---------- Previous post was at 10:19 PM ----------



haha,you can make friends with anyone,but still cant change the facts.

for you what your gov controlled media tells you is a fact , for others it may be different

 

[beijingwalker]

haha,then try,to see if you can get anything from it but trouble ,India dosent have enogh money to help itself,let alone other nations.your foreign reserve is smaller than Taiwan,that's amazing!

 

[below_freezing]

for you what your gov controlled media tells you is a fact , for others it may be different

When more than half of your women can read any media at all, maybe regime change would come in India.

 

[blood]

haha,then try,to see if you can get anything from it but trouble ,India dosent have enogh money to help itself,let alone other nations.your foreign reserve is smaller than Taiwan,that's amazing!

Rank Country/monetary authority Foreign exchange reserves
(Millions of US$) Figures as of
— World (sum of all countries) N/A –
1 People's Republic of China
3,197,000 Jun 2011[1]
2 Japan 1,137,809 Jun 2011[2]
– Eurosystem
(EU member states which have adopted the euro, incl. ECB) 886,355 July 2011[2]
3 Russia 516,800 Sep 2011[3]
4 Saudi Arabia 456,200 Dec 2010[1]
5 Republic of China (Taiwan) 400,770 Jul 2011[4]
6 Brazil 350,000 Sep 2011[2]
7 India 311,516 May 2011[2]
8 Republic of Korea 305,084 May 2011[2]
9 Switzerland 288,590 May 2011[2]
– Hong Kong 277,206 Jun 2011[2]
10 Singapore 242,287 Jun 2011[2]
11 Germany 230,879 Jun 2011[2]
12 Thailand 185,471 May 2011[2]
13 France 182,167 May 2011[2]
14 Italy 169,558 May 2011[2]
15 Algeria 150,100 Dec 2010[1]
16 United States 142,931 Jul 2011[2]
17 Malaysia 132,750 May 2011[2]
18 Mexico 131,174 May 2011[2]
19 Indonesia 118,109 May 2011[2]
20 United Kingdom 114,180 Jun 2011[2]
21 Poland 109,146 Jun 2011[2]
22 Libya 168,300 Dec 2010[1]
23 Turkey 97,598 May 2011[2]


india is on 7 position , the stat i have provided will be like an egg on your face , go improve your general knowledge before you open your fat mouth

 

[below_freezing]

Rank Country/monetary authority Foreign exchange reserves
(Millions of US$)

5 Republic of China (Taiwan) 400,770 Jul 2011[4]

7 India 311,516 May 2011[2]

I won't say too much except this: The Indian education system really needs to improve.

 

[beijingwalker]

Rank Country/monetary authority Foreign exchange reserves
(Millions of US$) Figures as of
— World (sum of all countries) N/A –
1 People's Republic of China
3,197,000 Jun 2011[1]
2 Japan 1,137,809 Jun 2011[2]
– Eurosystem
(EU member states which have adopted the euro, incl. ECB) 886,355 July 2011[2]
3 Russia 516,800 Sep 2011[3]
4 Saudi Arabia 456,200 Dec 2010[1]
5 Republic of China (Taiwan) 400,770 Jul 2011[4]
6 Brazil 350,000 Sep 2011[2]
7 India 311,516 May 2011[2]
8 Republic of Korea 305,084 May 2011[2]
9 Switzerland 288,590 May 2011[2]
– Hong Kong 277,206 Jun 2011[2]
10 Singapore 242,287 Jun 2011[2]
11 Germany 230,879 Jun 2011[2]
12 Thailand 185,471 May 2011[2]
13 France 182,167 May 2011[2]
14 Italy 169,558 May 2011[2]
15 Algeria 150,100 Dec 2010[1]
16 United States 142,931 Jul 2011[2]
17 Malaysia 132,750 May 2011[2]
18 Mexico 131,174 May 2011[2]
19 Indonesia 118,109 May 2011[2]
20 United Kingdom 114,180 Jun 2011[2]
21 Poland 109,146 Jun 2011[2]
22 Libya 168,300 Dec 2010[1]
23 Turkey 97,598 May 2011[2]


india is on 7 position , the stat i have provided will be like an egg on your face , go improve your general knowledge before you open your fat mouth

Taiwan's foreign reserve is the 5th,check your eyesight before open your mouth.

List of countries by foreign-exchange reserves - Wikipedia, the free encyclopedia

---------- Post added at 12:13 PM ---------- Previous post was at 12:11 PM ----------

and you can also do the math of how many people in Taiwan and how many people in India.

 

[beijingwalker]

I guarrantee that this" blood" guy will have to register another account to post anything again.ha

 

[beijingwalker]

Vietam economically is not independent

Vietnam: Under the weight of China
August 27th, 2011

Author: Le Hong Hiep, Vietnam National University

The analogy highlights the strategic importance of Vietnam toward China, especially in terms of security, while also suggesting that Vietnam must live under China’s weight. Vietnam is therefore, in Carlyle Thayer’s words, condemned to a ‘tyranny of geography’ where it has no choice but to learn to share its destiny with neighbouring China.

This threat posed by China toward Vietnam comes not only from geographical proximity but also the asymmetry of size and power between the two countries. China is 29 times larger than Vietnam, while Vietnam’s population, despite being the world’s 14th largest, is still only equivalent to one of China’s mid-sized provinces.

Vietnam’s impressive economic performance since the late 1980s hasn’t allowed it to close the gap in strength. This is because China’s own economic modernisation has caused the power gap between the two countries to become ever wider. According to World Bank data, China’s GDP expanded more than 16 times between 1985 and 2009 from US$307 billion to US$4.985 trillion. Vietnam’s GDP increased only seven times over the same period, from US$16 billion in 1985 to US$97 billion in 2009.

With its economic development, China’s military might has grown significantly, posing a formidable threat to Vietnam’s security. According to China’s official statements, its military budget for 2011 is US$91.5 billion, while Vietnam is said to have allocated US$2.6 billion. Particularly worrying for Vietnam is that China’s expanding military budget is concentrated on its air force and navy, strengthening China’s capacity to project power into the South China Sea where China and Vietnam have competing claims.

Vietnam’s transformation toward an open market economy also adds another aspect to this tyranny of geography: increased economic vulnerability.

Since Vietnam resumed trade with China in the late 1980s, its domestic production has long been threatened by Chinese goods — flooding the country through both formal and informal (smuggling) trade. This not only exerts a negative impact on Vietnamese domestic production but also puts Vietnamese consumers at risk when smuggled goods are toxic and harmful to people’s health.

Another vulnerability is Vietnam’s perennial trade deficit with China, amounting to US$5.4 billion out of the country’s total trade deficit of US$7.5 billion in the first half of 2011. China has also emerged as Vietnam’s largest source of imports, accounting for almost a quarter of its import turnover in 2010. Vietnam is heavily dependent on China for input materials for some of its major export industries, while Vietnam’s exports to China are just a minuscule portion of China’s total imports. Should China discontinue trade with Vietnam for some reason, the damage to Vietnam’s economy would be immense.

Another concern is that Chinese companies have won up to 90 per cent of EPC (engineering, procurement and construction) contracts for Vietnam’s major industrial projects, especially those of coal-fired power plants. Chinese contractors are favoured as they offer cheap technology and promise to help arrange financial funding from Chinese banks.

 

[QDNDVN]

Vietam economically is not independent

Does China economic independence? Name a few what China own technologies without foreigner investors dollars.

 

[beijingwalker]

Does China economic independence? Name a few what China own technologies without foreigner investors dollars.

you are talking about different things,speaking of techonology and science,people learn from each other.it dosent mean that you cant build a car if the car was not invented by you in the first place.what you are talking about is technologically independence,at least China is capable tof making most of the products in the world,even rockets and space shuttles.and Vietnams is not technologically independent either.

 

[ViXuyen]

Most of Vietnam’s major projects in Chinese hands
8/7/2010 17:40

Stop reading after that, bullshxt journalism at its best.

Most major projects in Viet Nam are built by local Vietnamese companies solely or joinly with foreign companies unless the project is partly or fully funded in a form of ODA loan from China.

The only field that the Chinese have a present more than other foreign companies is powerplant building. Reason is that Viet Nam is not able to build those equipment like turbine or boilers etc. Even that does not mean 100% of the value of the power plants are being built by Chinese. Often, Vietnamese company like LILAMA would make up 30% of the value of the power plant. The Chinese have been able to win contracts in building power plants in Viet Nam is not a surprise since they offer the products with the cheapest price. However, the days of Chinese in the power plant building is numbered in Viet Nam since we have started switching to turbines of Siemens or General Electric.

 

[ChinaToday]

Stop reading after that, bullshxt journalism at its best.

Most major projects in Viet Nam are built by local Vietnamese companies solely or joinly with foreign companies unless the project is partly or fully funded in a form of ODA loan from China.

The only field that the Chinese have a present more than other foreign companies is powerplant building. Reason is that Viet Nam is not able to build those equipment like turbine or boilers etc. Even that does not mean 100% of the value of the power plants are being built by Chinese. Often, Vietnamese company like LILAMA would make up 30% of the value of the power plant. The Chinese have been able to win contracts in building power plants in Viet Nam is not a surprise since they offer the products with the cheapest price. However, the days of Chinese in the power plant building is numbered in Viet Nam since we have started switching to turbines of Siemens or General Electric.

why you viet keep changing your id? hahaha viettroll really bs all the time first they tell u they are powerful millitary which every one knew is completely bs, now they tell you economicly they are powerful too another bs too

 

[navtrek]

some news are news,will lose its appeal after a while,but reports and facts,food for thought,stay true for a long time.this report is not news,it's about the facts.

Nice sentence. But some facts change with time.

 

[ViXuyen]

why you viet keep changing your id? hahaha viettroll really bs all the time first they tell u they are powerful millitary which every one knew is completely bs, now they tell you economicly they are powerful too another bs too

Our miliary is growing, our economy is growing, our industrial base is growing, and your bickering does not change anythang