Vietnam Economy Forum

[Viet]

Four additional seaport projects to enter operation


Updated : 2/25/2013 6:23:28 PM
VOV

(VOV) - The southern coastal province of Ba Ria-Vung Tau will begin operations on four additional seaport projects this year boasting a combined design capacity of around 20–25 million tonnes.

The projects include Vung Tau Petro, Cai Mep-Thi Vai International, SSIT, and Gemalink’s first phase.

The province aims to process around 50.7 million tonnes of cargo and roughly 125,000 passengers at local seaports. More than VND4.2 trillion will be pumped into implementing the seaport projects in 2013—an increase of approximately 10 percent compared to last year.

 

[Viet]

i would think she is chinese if the pic is not here.look at what she wears, all chinese style.bright China red ,golden dragon and phoenix patterns,longevity choker and the beautiful wooden fan.
we have strong culture base, why not embrace mother China?

You seem to be obsessed by the idea of re-integrating Vietnam into Chinese empire. You should know that´s unrealistic, by many reasons.

More doable is a union or confederation between Japan and Vietnam, or in the distant future a quad alliance of Japan-S. Korea-Taiwan-Vietnam.

 

[Viet]

Work starts on Laos-Viet bank’s branch office


Posted on February 25, 2013
Written by vietnamplus

Construction began on February 25 for the office building of the Laos-Viet Joint Venture Bank (LVB)’s branch in Laos’ southern Attapeu town.

The ground-breaking ceremony, organised by the Bank for Investment and Development of Vietnam (BIDV), which partnered in the LVB, saw the presence of Lao Deputy Prime Minister Somsavad Lengsavath and Vietnamese Deputy Prime Minister Nguyen Xuan Phuc, among others.

Attapeu Governor Khamphan Phommathath spoke highly of the operation of the LVB in general and its Attapeu branch in particular.

 

[Viet]

Japan helps Binh Duong build metro line


Updated : 2/28/2013 10:26:12 AM
VOV online

Tuyến đường sắt đô thị số 1 (Bến Thành - Suối Tiên) chính thức được bấm nút khởi công (Ảnh: Kinh Luân)

model

model

Suối Tiên depot


(VOV) - Japan will help the southern province of Binh Duong build an ODA-funded Suoi Tien-Ho Chi Minh City metro line for the benefit of local socio-economic development.

This was announced by Onuma, an official from the Japanese Ministry of Economy, Trade and Industry during a working session with Binh Duong authorities on February 27.

He highlighted Binh Duong’s potential for urban and industrial development, adding that Japanese investment policy makers are keen to support strategic projects, especially those on urban and infrastructure development.

Tran Thanh Liem, Vice Chairman of the provincial People’s Committee said Japan’s development cooperation and investment has paid well over the past years.

The province wished for closer cooperation with the Japanese side to carry out key infrastructure projects to build its first-tier city as approved by the Government, Liem added.

 

[Viet]

Japan helps Vietnam improve service quality


Updated : 2/27/2013 9:09:21 AM
VOV online

Japanese Consulate General to Vietnam Harumitsu Hida


The Japanese Government has provided over US$570,000 in non-refundable aid for five projects on health care, irrigation, water supply and education in Vietnam’s southern and central highlands regions.

Japanese Consulate General to Vietnam Harumitsu Hida and representatives of aid receipients signed documents in HCM City on February 26.

More than US$123,000 of the sum will be spent on medical equipment for a hospital in Tam Nong district, Dong Thap province to improve the quality of medical examinations and treatment for local people.

About US$122,300 will be used for equipping the Thu Hoa district-based general hospital in Phu Yen province.

A drainage system in An Hiep commune, Ben Tre province, and a water work in Kuaih village, Dak Lak province, will cost around US$117,000 and US$90, respectively.

A project to build eight new classrooms for Le Hong Phong primary school in Dak Lak province is expected to cost US$120,000.

 

[Viet]

Government offers preferential loans to the needy


Updated : 2/28/2013 3:29:57 PM
VOV online

Vietnam Bank for Social Policies (VBSP)


The Government will provide preferential loans to about 1.5 million households in Vietnam who are living near the poverty line.

Under the Prime Minister’s Decision, loans for these households will enjoy an interest rate of 0.85 percent per month and more than 10 percent a year.

Under the standards set for 2011-15, near-poor households are those with a monthly income of VND401,000-520,000 (US$19 - 25) in rural areas and VND501,000- 650,000 (US$24-31) in urban areas.

Those who have the lower income are designated as poor households.

The Vietnam Bank for Social Policies (VBSP) is channeling the loans. It was asked to make plans to ensure annual capital for the preferential loans.

The VBSP started to provide preferential loans to poor households in 2009. The new policy will take effect from April 16, 2013.

 

[Rechoice]

REFILE-Vietnam's bad debt falls to 6 pct, interest rate cut ahead - official



Feb 28 (Reuters) - Vietnam's bad debt has been fallen to 6 percent from more than 8 percent earlier and the country's central bank would lower interest rates to stabilise the economy, a senior government official said on Thursday.

"Even though the asset management company hasn't yet been established, the bad debt has fallen from 6 percent from more than 8 percent," said Vu Duc Dam, head of the government office, referring to a plan to set up a new firm by the end of the first quarter to buy bad debts from troubled banks.

"The government has required the central bank to have a roadmap to further lower the interest rates," Dam told reporters. (Reporting by Hanoi Newsroom; Editing by Martin Petty)

 

[Viet]

Trade surplus reaches US$900 mil in February


Vietnam export news
THỨ NĂM, 28 THÁNG 2 2013 09:12

The General Statistics Office has said that the country's export turnover in February reached US$7.5 billion while import turnover is estimated at $6.6 billion, showing a trade surplus of $900 million.

Import turnover dropped 38.3 percent since last month, partly due to the long Tet holiday season.

In the first two months of the year, export turnover hit $18.97 billion, an increase of 23.9 percent over the same period last year. While import turnover was $17.3 billion, bringing trade surplus to about $1.7 billion during this period.

 

[Viet]

Japan helps Vietnam train human resources


Updated : 3/3/2013 12:12:46 PM
VOV

(VOV) - The Nihon Keizai newspaper is reporting the Japan Human Resource Society (JHRS) will help train Vietnamese civil servants who are candidates for leadership positions.

Under the plan, JHRS will develop a curriculum and dispatch lecturers to instruct personnel training.

The newspaper noted that although Japan has previously sent experts to developing nations and invited trainees to study in Japan, Vietnam is the first nation to receive such comprehensive assistance.

The JHRS will cooperate with the Ho Chi Minh National Academy of Politics and Public Administration (HCMA) to offer six groups totaling 500 middle-aged civil servants for four-month training courses. Two courses will be organised annually—the first from March to June and the second in autumn.

Japanese experts, cadres, and staff from relevant ministries will also join the curriculum for several days, The JHRS instructors will begin with lectures on Japanese civil service mechanisms.

The JHRS will also discuss a programme that invites outstanding trainees to Japan for further study.

 

[Viet]

ORIO funds Binh Duong sewage treatment plant


Updated : 3/2/2013 4:28:12 PM
VOV

(VOV) - The Netherlands’ Facility for Infrastructure Development (ORIO) will help the southern province of Binh Duong build a wastewater treatment plant worth about 35 million Euro.

Half of the project’s funding will come from the Dutch side’s non-refundable aid while the remainder will be covered by the provincial budget.

At a meeting on March 1 with Tim Van Galen—representative advisor of ORIO’s ODA support programme—the provincial People’s Committee Vice Chairman Tran Thanh Liem emphasised the importance the province attaches to ODA funding, especially that provided by the Dutch Government.

ODA has helped the locality’s infrastructure development efforts and environmental protection, he added.

The plant is expected to treat the sewage of 10,000 households in Di An town.

 

[EastSea]

Eni eyes Vietnam's unconventional reserves

HANOI, Vietnam, Feb. 28 (UPI) -- Italian energy company Eni said Thursday it signed an agreement with Petrovietnam to evaluate the potential for unconventional hydrocarbons in Vietnam.

Eni Chief Executive Officer Paolo Scaroni signed an agreement with Do Van Hau, the president of Vietnam Oil and Gas Group, known as Petrovietnam, in Hanoi. Both sides would carry out studies that would examine the unconventional resource potential.

"With this agreement, Eni takes another step forward in its strategy of strengthening its presence in Asia, a region with very high growth potential that presents great opportunities in terms of upstream and the market," the company said in a statement.

The CIA World Fact Book estimates that Vietnam in 2011 produced 318,000 barrels of oil and 300 billion cubic feet of gas per day.

Eni said the offshore Song Hong basin in the Gulf of Tonkin holds about 10 percent of Vietnam's hydrocarbon reserves, mostly in the form of natural gas.



Read more: Eni to work on unconventional energy reserves in Vietnam - UPI.com

 

[Viet]

Vietnam's FDI attraction down in first two months


English.news.cn 2013-02-26 18:42:36

HANOI, Feb. 26 (Xinhua) -- Total foreign direct investment (FDI) to Vietnam is estimated to reach 630.3 million U.S. dollars in the first two months of this year, a year-on-year decrease by 61.9 percent, but the country's FDI disbursement during the period rose by 5 percent, hitting 1.05 billion dollars, according to the Ministry of Planning and Investment (MPI) on Tuesday.

 

[Viet]

Son La Hydropower Plant - project of the century


Last update 02/03/2013 (GMT+7)
VN Net bridge

Son La Hydropower Plant. (Source: VNA)

VietNamNet Bridge – The Son La Hydropower Plant, the largest project in Southeast Asia, is not only the pride of the country but it also marks an outstanding growth of the electric sector of Vietnam today.

The plant was officially put into operation on December 23, 2012, after seven years of construction, three years earlier than scheduled.

With a total investment of 60 trillion VND (approximately 2.85 billion USD), the Son La Hydropower Plant with a designed capacity of 2,400 MW and six generators has been completed much earlier than scheduled, bringing huge economic benefits. Every year it will create a turnover of 500 million USD and save over five million tonnes of coal which will be needed to produce an equivalent amount of electricity.

Moreover, the plant will supply on average 10.2 billion kWh/year to the national grid.

 

[Viet]

Over 700 Vietnamese labourers return to Libya


Updated : 3/3/2013 7:09:59 PM

(VOV) - The Ministry of Labour, Invalids, and Social Affairs (MoLISA)—under the Prime Minister’s direction—has instructed local businesses to resume sending Vietnamese guest workers to work in Libya.

The Libyan political crisis two years ago forced Vietnam to withdraw its more than 10,000 guest workers. The situation has since stabilised and Libya’s guest worker demands have rebounded. Around 700 guest workers have now returned to construction work in the country.

 

[Viet]

Vietnam joins TPP talks in Singapore


Updated : 3/4/2013 2:52:35 PM
VOV

Economists urge TPP leaders to support capital control. Photo by Chilean government.


(VOV) - Vietnam is joining 10 other countries in the 16th round of Trans-Pacific Partnership negotiations in Singapore from March 4-13.

The Vietnamese delegation is led by Tran Quoc Khanh, Deputy Minister of Industry and Trade, who is the head of the Vietnamese Government’s negotiation delegation for international economics and commerce.

During their stay in Singapore, the negotiating parties will also attend forums and symposiums with the participation of 300 delegates representing businesses, research organisations, and non-governmental organisations from various countries in the world.

Eleven countries are conducting negotiations of a TPP pact, namely Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam.

They are all members of the Asia-Pacific Economic Cooperation (APEC) forum, boasting a combined GDP revenue of US$21 trillion, or more than half of the bloc’s total.

Three rounds of TPP talks are scheduled to take place from now until October 2013 when the APEC summit is held in Indonesia.