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Archive for August 3rd, 2010|Daily archive page

Businesses need to grasp trade remedy measures

In Uncategorized on August 3, 2010 at 3:25 pm




Businesses need to grasp trade remedy measures


QĐND – Tuesday, August 03, 2010, 21:12 (GMT+7)


To protect their legitimate interests, businesses are entitled to ask for investigation and trade remedy measures (TRms) to combat unhealthy competition in imports and request the WTO to deal with lawsuits that can seriously damage them.

Businesses remain “vague”


“Vietnam has not yet used trade remedy measures (TRms) to protect its domestic industries although it has the necessary tools at its disposal,” said Vu Ba Phu, Deputy Head of the Competition Management Department.


According to the Vietnam Chamber of Commerce and Industry (VCCI), only 66 percent of Vietnamese businesses understand the basic content of all WTO agreements and less than 35 percent grasp Vietnam’s WTO commitments that are related to their sectors or business areas.


“This is the weak point of many Vietnamese associations and businesses when applying TRms. They only focus on exports and miss out on the domestic market,” said Tran Huu Huynh, Head of the VCCI’s Legal Department.


Even worse, through a recent seminar on using TRms to protect businesses from a glut of imported goods, did a representative from the Vietnam Construction Association learn about dumping and subsidies. But, in his words, how to apply TRms is another matter.
Apart from coping with anti-dumping and anti-subsidy and TRms lawsuits issued by other countries, Vietnamese businesses have to face with tough competitions from imported goods in the domestic market.


Mr Phu said that TRms are used legally by WTO member countries. Consequently, the application of these measures by member countries must be subject to WTO agreements on anti-dumping, anti- subsidy measures and TRms.


Deputy Minister of Trade Le Danh Vinh underlined the need to provide a comprehensive account of TRms for Vietnamese businesses.


To protect their legitimate interests and ensure the survival and development of businesses in the domestic market when facing unhealthy competition from imported goods, Vietnamese businesses are entitled to ask State management agencies to investigate and apply TRms against imported goods, said Mr Vinh.


Applying TRms on home turf


According to the Ministry of Industry and Trade, over the past seventh months, Vietnam’s import surplus has hit US$7.44 billion, accounting for 19.45 percent of its export turnover. This figure underlines the competitive pressure of imported products and services on domestic production and services.


The Competition Management Department said while attempting to penetrate the Vietnamese market, foreign businesses take account of unhealthy competitive practices including dumping, subsidies or taking advantage of opportunities to flood the Vietnamese market with imported goods. This can cause losses for Vietnamese businesses on their home turf. Therefore, businesses and associations need to be more active when applying legal measures under WTO regulations to raise their competitive capacity in the domestic market.


In the middle of last year, the Viglacera Float Glass Company (VIFG) and the Vietnam Float Glass Company (VFG) officially asked the Ministry of Industry and Trade to investigate the application of TRms against float glass products imported to Vietnam. The investigation was of great importance to the country’s international trade activities as this was the first time domestic businesses had requested State management agencies to protect their interests under the WTO’s rules. This was also the first time, since joining the world’s largest trade organisation that Vietnam had officially conducted an investigation and considered applying TRms in its capacity as an importing country.


Mr Phu said that the investigation helped to reduce the imports of this product which enabled domestic float glass producers to increase their sales volume and restore production.


Being more active in the global market


Since 1994, Vietnam has faced 42 trade disputes, including 35 anti-dumping lawsuits, 10 of which have been imposed by the EU, 6 by India and 5 by the US.


Not only leather capped shoes and bicycles but also plastic bags were faced with anti-dumping taxes in 2009. The lawsuit is likely to be a precedent for other anti-subsidy lawsuits against Vietnam’s major exports to the US and other countries.


Some foreign experts warned that in 2010 wooden products, garments, and steel are likely to face anti-dumping lawsuits in the US and EU. Other products, such as chemicals, mechanic products and plastics may also be investigated.


According to the VCCI’s survey, 66 percent of businesses do not grasp the basic content of WTO agreements and more than half of businesses are not aware of Vietnam’s commitments relating to their products. However, if they learn about the legislation they can lodge a petition with the WTO to deal with disputes. This world body will then consider whether Vietnamese companies are charged with dumping prices or not and give a final decision.


Both domestic and foreign lawyers said that international trade disputes are inevitable so businesses associations should prepare and come up with long-term measures and use international trade law to deal with them.


Experts said that when anti-dumping taxes are invalid, they might be extended, so businesses will be faced with such taxes forever.


For example, Vietnamese footwear products will continue to face an anti-dumping tax of 10 percent in 15 months since January 2010 and probably the EU Footwear Federation will have to ask the EC to extend the deadline.


Dealing with trade disputes under the WTO framework is common and businesses should not consider it a complicated process.


The WTO has an agency to deal with trade disputes. Having become its members for three years, Vietnam has the responsibility and the right to ask the WTO to consider any unjust lawsuit against Vietnamese businesses.


In the first quarter of this year, Vietnam already lodged with the WTO strong protest against the US imposition of anti-dumping taxes on its frozen shrimp. The economic community is optimistic about the possibility of winning the case. After five years of paying these taxes, Vietnam has suffered a lot of losses. If the tax continues to be imposed for the next five years, the US will not be a lucrative market for Vietnamese frozen shrimp.

Source: VOV

Source: QDND

PetroVietnam company launches office in Malaysia

In Uncategorized on August 3, 2010 at 3:25 pm




PetroVietnam company launches office in Malaysia


QĐND – Tuesday, August 03, 2010, 21:12 (GMT+7)

Vietnam Petroleum Technical Services Corporation (PTSC) launched its branch office in Kuala Lumpur on August 2, paving the way for setting up PTSC’s subsidiary company in Malaysia.


Addressing the launch ceremony, Dinh La Thang, head of the board of directors of the Vietnam National Oil and Gas Group (PetroVietnam), stressed that opening the office in Malaysia marks the unceasing development of PTSC.


Through international bids, PTSC has exported service packages worth hundreds of millions of USD to Malaysia in recent years, thus meeting its revenue target as well as contributing to the country’s foreign currency resources, PTSC General Director Nguyen Hung Dung said.


A member of the Vietnam National Oil and Gas Group, PTSC provides technical services to the oil and gas industry.


According to the PTSC General Director, the office in Malaysia will help the corporation further penetrate the southeast Asian nation and affirm its commitment to providing high-quality services.


PTSC has won contracts to provide oil and gas-related technical services to partners in Malaysia, including international contract with Malaysia International Shipping Corporation (MISC) to provide, install, operate and maintain the FPSO Ruby II floating tank in eight years for the Petronas Carigali Vietnam Limited (PCVL). PTSC has also provided the FSO Orkid oil ship for Talisman Malaysia and other services.


PTSC has a fleet of more than 20 ships and strives for 100 ships by 2050.

Source: VOVNews/VNA

Source: QDND

People in remote areas get access to electricity

In Uncategorized on August 3, 2010 at 3:24 pm




People in remote areas get access to electricity


QĐND – Tuesday, August 03, 2010, 21:12 (GMT+7)

PANO – Local people in remote areas in the five Central Highlands provinces, Lam Dong, Dac Nong, Dac Lac, Gia Lai and Kom Tum, have gotten access to electricity from a VND 1.3 trillion power supply project, part of the Government’s program on socio– economic development for ethnic minority groups in the Central Highlands.


The project, initiated by the Vietnam Electricity Group, was completed at the end of July, with many power facilities having been built to provide electricity to each house in these remote areas.


Having finished the project in February, Lam Dong became the first Central Highlands province to provide power for 19,700 households in 477 hamlets in 12 districts.


The project has contributed to improving living standards, developing economy, and reducing poverty, as well as bringing into play governmental policies of permanent agriculture and settlement for ethnic minority people in remote areas.


Translated by Duy Minh


Source: QDND

Funds for student dormitories to be paid in advance

In Uncategorized on August 3, 2010 at 3:24 pm




Funds for student dormitories to be paid in advance


QĐND – Tuesday, August 03, 2010, 21:15 (GMT+7)

The Government will provide money in advance for the building of student accommodation approved for 2010-11.


Government Office document 211/TB-VPCP says the pre-payment is primarily intended to ensure the projects are completed on schedule.


The Government has also agreed to transfer VND59.5 billion (US$3 million) for 44 Construction Ministry-approved student-accommodation projects.


And Prime Minister Nguyen Tan Dung has asked the municipal administrations of Ha Noi and HCM City to provide scheduled moneys in advance for projects that he has approved.


The payments will be refunded from next year’s State budget, says the document.


The document says Planning and Investment Minister Vo Hong Phuc has been asked to co-ordinate with the Construction and Finance Ministries to complete a list of student-accommodation projects for 2011-15 that have been given prime ministerial approval but which have not been included in capital allotments for 2010.


The list will go to the National Assembly Standing Committee.


The Construction Ministry has been asked to co-ordinate with the Education and Training, the Labour, Invalids and Social Affairs, Planning and Investment and the Finance Ministries together with relevant agencies to complete a list of proposed projects that are to be financed from the sale of government bonds in 2011-15 for the prime minister’s approval.


Source: VietNamNet/Viet Nam News


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Source: QDND

Flash floods hit Lao Cai province

In Uncategorized on August 3, 2010 at 3:24 pm




Flash floods hit Lao Cai province


QĐND – Tuesday, August 03, 2010, 21:15 (GMT+7)


Flash floods hit the northern mountainous province of Lao Cai on August 2, killing one and injuring at least four others.

The floods, caused by torrential rains throughout the north-western region, swept away six houses, destroyed a school, and submerged more than 20 hectares of crops in Cua Cai and Na An hamlets, Muong Vi commune, Bat Xat district.


The Director of the Lao Cai provincial Department of Agriculture and Rural Development Ma Quang Trung, who is also deputy head of the Lao Cai provincial board for flood and storm prevention and control, said the flash floods occurred during the daytime so people had time to react and minimise property and human losses.


After the disaster, the Lao Cai provincial board for flood and storm prevention and control and the Bat Xat district People’s Committee sent a delegation to Muong Vi commune to provide disaster relief, inspect the situation, and help local people restore their community. The only dead victim’s family was given VND3 million, while each of the injured victims received VND1 million, and each family who lost their house, VND10 million.


Source: VOV


Source: QDND

Screws tightened on news portals’ sourced material

In Uncategorized on August 3, 2010 at 3:23 pm




Screws tightened on news portals’ sourced material


QĐND – Tuesday, August 03, 2010, 21:12 (GMT+7)

General news portals which want to present information from another source have to ensure they use accredited and reliable sources and feature accurate quotes, according to a latest decree on web portal management published by the Ministry of Information and Communications.


A formal source of information, as defined in the decree, includes official websites of Vietnamese newspapers or web portals of Party and Government offices in accordance with the Journalism and Intellectual Property Laws.


News portals which copy original sources will have to list the original publication, name of author and date of publication.


According to Nguyen Thi Thanh Huyen, from the ministry’s Administration for Radio Broadcast, Television and E-Information, which compiled the decree, this requirement is to address a situation where the content of an original news story is published, but is later modified by web portals.


“This will require the web portals to be more responsible with news they collect,” she said.


This decree also prohibits general news portals to provide, transmit, advertise or put direct web links to illegal sources of information. They include the utilisation and provision of information that violates privacy, intellectual property or contains the depiction of sexually explicit activities and erotic content.


Nguyen Hoang Tuan Anh, external affairs director of the VNG Company, owners of a popular news portal http://www.zing.vn, said the requirement to only use information from formal sources appeared to limit the news portals activities.


He said: “The limitation should be imposed based on the fields of information rather than on the sources. For example, when it comes to politics or religion, I agree that we should be cautious when publishing related stories. But how about entertainment news such as football and fashion, I don’t think a variety of sources of such information does more harm than good.”


Organisation and enterprises which own the web portals have to submit a report on their activity every 12 months, while the interval for report submission of those which are the providers of social network services is six months.


Anh, whose company also provides a social network service, said it was necessary for providers to submit reports so that the authorities could track their activities.


“The data collected from providers will help policy-makers develop sound policies that will reflect the rapid development of this new type of web service.”


Managers of web portals are also required to be of Vietnamese nationality and permanent residence in Viet Nam and holding a bachelors degree is mandatory.


The regulation will take effect from September.


Source: VietNamNet/Viet Nam News


 


 

 

 

 

Source: QDND

Evacuation measures only partially effective for annually flooded central region

In Uncategorized on August 3, 2010 at 11:20 am

A host of central residents relocated to resettlement areas have lamented that the policy has left them in less than ideal circumstances, as they now lack land for agricultural production.

Hundreds of families who live close to the sea wait to be resettled in Quy Nhon town, Binh Dinh Province (Photo: SGGP)

In the historic flood of 1999, which severely devastated the central region, the Vu Gia riverside village Phuong Trung was eliminated in Dai Quang Commune, Dai Loc District, Quang Nam Province. The village residents had nothing left as their houses together with other properties were swept into the sea.


Local authorities then decided to build a new village on a hill, 3 kilometers from the old village, to evacuate residents without any plan for farming production. Over the past ten years, people there have lived a difficult life.


Le Thi Kim, 62-year-old woman said that she is single but has to bring up her brother’s two orphaned children and her 86-year-old mother. Everyday, she leaves the village early in the morning to seek any work, including doing housework and taking care of other children in order to buy food.

“I am old now and just wish to have a garden to cultivate rice and vegetables,” she said.


Another village inhabitant named Pham Van Vinh said that he could not raise pigs or chicken as they all die due to the sweltering weather. He said his family earned VND30 million from breeding and selling groceries each year when they lived in the old village.


Also after the 1999 flood, 18 households in Ha Lac Village, Quang Loi Commune, Quang Dien District, Thua Thien-Hue Province were evacuated to a resettlement area. After over 10 years, they continue to experience a rough existence without electricity, paved roads, fresh water or schools. As a result, 14 of the 18 households have left their resettlement homes to return the old village or have traveled to other provinces and cities to earn livelihoods.


Hundreds of resettlement areas have been built in Thua Thien-Hue since 2005, in response to floods and storms. However, several residents have left the new houses to return to their old homes. As a result, the number of people that must evacuate when floods and storms occur still tops 80,000 in the province each year.


Resettlement


Hundreds of tottery houses are found dangerously close to waves that crash along the beaches in Hoai Nhon, Phu My and Phu Cat districts and Quy Nhon town of Binh Dinh Province.


One year after his house was swallowed by ocean tides, Vo Ngoc Van’s family, in Nhon Ly Commune of Quy Nhon town, is still awaiting resettlement.


Van’s house fell into the sea due to heavy rains caused by a tropical low-pressure system that swept through the area in May of 2009. His family has had to live with relatives. He said that local authorities have promised to arrange resettlement for his family, but one year has gone by and they have done nothing.


Most households said they agreed to evacuate from landslide prone areas to new resettlement areas, according to Pham Dung, who resettled at An My Commune in Phu My District. However, life remains difficult for them; to build a new house costs tens of millions, while the State only assists each family with VND10 million (US$526).


Binh Dinh People’s Committee has arranged resettlement for nearly 2,300 households in the province. However, they reported difficulties implementing this plan, due to a lack of capital.


Effective solution


The first flood-prevention houses in the central region were built in Ngu Hanh Son District of Danang City. Each two-story home was built solidly on 300 square meters and include a bathroom, reading room, kitchen and container that can hold 1,000 liters of fresh water.

A flood-prevention house in Ngu Hanh Son District, Danang City (Photo: SGGP)

Last year, when local people rushed to these houses to avoid floods, rescuers easily delivered rice and instant noodles to each house using motorboats.


The Central Natural Disasters Relief Fund has sponsored construction of 21 works to prevent natural disasters in low-lying areas in 10 central provinces and cities, said the fund director Nguyen Dang Lam.


The houses are used not only for avoiding floods, but also for other activities including musical performances, medical checks and treatment and teaching.


The fund will continue financing the building of another 30 works, including 15 flood-prevention houses in the region this year, Lam revealed.


On the other hand, Nguyen Thi Tuyet Mai from Quang Binh Province said that the State should provide residents with loans to rebuild or reinforce their houses, which would ease the local authorities’ pressure to evacuate residents during storm and flood seasons.

Source: SGGP

Stocks add little after starting week on low note

In Uncategorized on August 3, 2010 at 11:20 am

Movements of VN-Index on August 3. (Photo: vietstock.vn)Vietnam’s benchmark VN-Index was expected to rise strongly as green status was maintained during the trading session on August 3. However, that rising momentum weakened by the end of the trading session as investors remained wary.

The shares of 251 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange edged up 0.06 percent, or 0.29 points, to 491.9.


Of the index, 75 stocks gained, 128 fell, while 52 remained unchanged.


Trading volume recovered as 42.3 million shares, worth VND1.26 trillion, changed hands.


With 1.71 million shares changing hands today, Thanh Cong Textile Garment Investment Trading Joint Stock Company (TCM) continued to top the list of most active shares by volume for the second day.


Saigon Securities Inc. (SSI), the country’s largest brokerage, took the second rank with 1.17 million shares.


Investment and Trading of Real Estate Joint stock Company (ITC) tagged along with 1.15 million shares.


Nam Viet Corporation (ANV) jumped the daily maximum allowed limit of 5 percent to VND18,900.


Thong Nhat Rubber Joint Stock Company (TNC) surged by 4.95 percent to VND21,200.


From June 29 to July 15, Chau Thi Hong Diep, wife of Le Van Loi – chairman of Thong Nhat Rubber Joint Stock Company (TNC), had registered to buy 50,000 shares, but she only bought 12,210 shares because prices were not as expected, raising her holdings to 157,210 shares, accounting for 0.82 percent of the company’s chartered capital.


Idico Urban and House Development Joint Stock Company (UIC) advanced 4.91 percent to VND29,900.


South Logistics Joint Stock Company (STG), which lost 4.88 percent to VND39,000, led the losers on the city bourse.


DIC Investment and Trading Joint Stock Company (DIC) shrank 4.86 percent to VND33,300.


Techno – Agricultural Supplying Joint Stock Company (TSC) moved backwards for the second consecutive day, slipping 4.82 percent to VND21,700.


Hanoi’s HNX-Index dipped 0.9 points, or 0.59 percent, to finish at 150.48. Liquidity on the market slightly improved over the previous day, climbing to 28.52 million shares, valued at VND806.84 billion.


The UPCoM-Index also contracted 0.03 points to 51.74. A total of 404,280 shares changed hands, at VND8.79 billion, as of 11 am local time.

Source: SGGP

Khanh Hoa to host Miss Earth 2011

In Uncategorized on August 3, 2010 at 11:20 am

The government gave the nod to the Khanh Hoa Provincial People’s Committee to organize Miss Earth 2010 in the coastal city of Nha Trang from November 4 to December 4.

Miss Earth 2008 Karla Henry visits Vietnam in 2008. (Photo: Vnexpress)

Around 90 beauty queens from all over the world will be divided into three groups to take part in charitable and environmental protection programs.

Executive Vice President of the Carousel Productions Inc, Lorraine E. Schuck, worked with the Khanh Hoa Provincial People’s Committee on July 24, concerning the possibility of holding the final stage of Miss Earth 2010 in the province.

Vice Chairman of the Khanh Hoa Provincial People’s Committee, Mr. Le Xuan Than, said that the province will provide the best facility for the contest.

The final night of the beauty contest will take place at Vinpearl Land Resort and Spa on Hon Tre Island, December 4.

Source: SGGP

Photo exhibition on Chinese heritage in Hanoi

In Uncategorized on August 3, 2010 at 11:19 am

A total of 120 photos on China’s world heritage sites are on display at an exhibition in Hanoi.

                         Great Wall of China

The photo exhibition themed “China today” is an activity to mark the 60th anniversary of the Vietnam-China diplomatic ties and the Vietnam-China Friendship Year.


Addressing the opening ceremony on August 2, Head of the Ministry of Culture, Sports and Tourism’s International Cooperation Department Nguyen Van Tinh said that the 12-day exhibition will help Vietnamese people better understand Chinese land and people through cultural heritage, thus contributing to enhancing the solidarity, friendship and cooperation for development between the two Parties, States and people.


UNESCO’s World Heritage Committee recognised 890 heritage sites worldwide in July 2009. China ranked third with 38 sites.


The photo exhibition runs until August 14 at 29 Hang Bai St., Hanoi.

Source: SGGP

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