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Archive for December 26th, 2008|Daily archive page

ADB provides water management loan to China

In Uncategorized on December 26, 2008 at 3:11 pm

Hanoi (VNA) – The Asian Development Bank (ADB) said on December 22 that it has approved a 200 million-USD loan to China to help reduce pollution and improve the supply of clean water from the country’s third largest river basin, the Songhua River Basin (SRB).

The loan will cover more than half of the total estimated project cost of 396.3 million USD, the ADB said in a press release.

The remainder will be funded via the imposition of water and wastewater tariffs, domestic loans from China’s banks, state-issued bonds, and equity capital from the local governments involved.

The project will improve the health and quality of life for about 9.4 million urban residents in the northeastern provinces of Heilongjiang and Jilin along the basin by improving the supply of potable water, increasing wastewater treatment coverage, and enhancing solid waste management, ADB said.

The project will establish infrastructure and provide training to improve and expand the water supply, wastewater treatment, and solid waste management. They will address looming water shortages by recycling wastewater, and reducing waste.-

Cambodia plans 1.4 mln USD for local council elections

In Uncategorized on December 26, 2008 at 3:06 pm

Phnom Penh (VNA) – Cambodia’s National Election Committee (NEC) has announced they had submitted a 1.4 million USD budget for the upcoming local council elections to the government.

According to NEC Secretary-General Tep Nitha, there have been more than 11,350 people qualified for running at the elections which are slated for May 17 next year.

The elections will be held in one day, but in two sections – one is provincial and city council election and the other is district council election.

NEC plans to inform all participating parties about preparations for the elections on December 26. –

Environment group in the making

In Uncategorized on December 26, 2008 at 3:02 pm

Hanoi (VNA) – A 6.2 trillion VND project for establishing an environment group by 2012 has been submitted to the Government as part of the national efforts to diversify environment services.

The project, prepared by the Ministry of Natural Resources and Environment, made it clear that the group will have the State at the helm to fulfill the nation’s commitments to the World Trade Organisation regarding environment.

Investments are expected to come from foreign official development assistance (ODA), international cooperation progammes and other economic sectors, in addition to the main source from State budgets.

The potential project aims to improve the domestic environmental quality, thus further attracting foreign direct investments as well as to increase the domestic sector’s competitiveness in this field while the country is gearing to full opening to the world, explained the ministry in its submission to the Government.–

Surgery saves infant who swallowed marble

In Uncategorized on December 26, 2008 at 2:57 pm

Thanh Hoa (VNA) – The central province of Thanh Hoa Paediatric Hospital Doctors have saved a 20-day old baby who swallowed a marble.

Bui Van Son was hospitalised in a dangerous health condition after ineffective treatment at Thach Thanh district’s general hospital-

Vietinbank IPO draws 13,000 bidders

In Uncategorized on December 26, 2008 at 2:54 pm

HCM City (VNA) – An initial public offering (IPO) was held on Dec. 25 at the Ho Chi Minh Stock Exchange for the State-owned Vietnam Bank for Industry and Trade, or Vietinbank, which drew a high number of buyers.

Almost 13,000 investors registered their participation, which included more than 12,800 Vietnamese and 29 foreigners.

Only three foreign institutions took part in the auction, compared to 104 domestic ones.

The registered to purchase nearly 56 million shares, more than four percent higher than the 53.4 million equities on offer.

Local residents registered for more than 39.8 million shares; foreigners, 105,500; domestic organizations, 15.167 million; and foreign institutions, 805,000.

The bank’s chairman, Pham Huy Hung, said the number of participants and their registered share volume in the context of the global economic crisis and the sluggish state of Vietnam ’s stock market showed strong interest from investors.

The price was set to start at 20,000 VND (1.18 USD). Vietinbank has a charter capital of 13.4 trillion VND (800 million USD).-

Toshiba establishes new VN manufacturing base

In Uncategorized on December 26, 2008 at 1:05 pm

HCM CITY — Toshiba Corporation announced yesterday that it would meet the growing demand for high-efficiency motors in the global market by establishing a new manufacturing and sales base in Viet Nam.

The new company, Toshiba Industrial Products Asia Co Ltd will be located in Dong Nai Province, and will manufacture high-efficiency industrial motors rated at under 100 horsepower, plus their parts,

The company will construct a factory on 8ha in Amata Industrial Park. Work is scheduled to begin April 2009. Operation is expected to start in September 2010.

Total investment in facilities construction and manufacturing equipment is around US$77 million dollars.

Toshiba selected Viet Nam as home to the new motor manufacturing base for reasons of the ability to secure talented human resources, and advantageous logistics to the worldwide market, particularly North America and Asia. The Amata Industrial Park also offers distinct advantages such as tried and tested site management, plus proximity to a modern harbor. The park’s location close to HCM City, Viet Nam’s largest city, with a population of over 6 million, will also assure access to qualified people.

When the new facility reaches full capacity in 2015, it will be able to manufacture up to 1.2 million high-efficiency industrial motors a year, including key components, as required by the market.

Key features of Toshiba high-efficiency motors include their low noise and low malfunction rate. As the new company ramps up its business, its initial product line will include parts for export to North America. It will subsequently start exports to China, Southeast Asia and Japan, toward achieving a US$210 million sales target by 2015.

Alongside Toshiba’s three existing manufacturing bases, Toshiba Industrial Products Manufacturing Corporation in Japan, Toshiba Dalian Co Ltd in China, and Toshiba International Corporation in the United States, Toshiba Industrial Products Asia Co Ltd will form a manufacturing and sales system serving the global market, Toshiba Group targets net sales of US$800 million for its motor business by 2015. —


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