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Archive for October 14th, 2009|Daily archive page

Vinaphone, first to launch 3G in Vietnam

In Vietnam Economy on October 14, 2009 at 4:31 am

Vinaphone, first to launch 3G in Vietnam

QĐND – Tuesday, October 13, 2009, 21:3 (GMT+7)

Mobile phone service provider Vinaphone officially launched its Vinaphone 3G network on October 12.

This is the first mobile operator in Vietnam to provide customers with mobile information services using 3G technology. 

With the new network, Vinaphone will provide six new services including mobile internet, mobile broadband, video call, mobile camera, mobile TV and a 3G portal. The operator said that the same basic charges as for the current 2G network will be applied to 3G customers. 

Deputy General Director of the Vietnam Post and Telecommunications Group (VNPT) and Vinaphone Director Lam Hoang Vinh said by launching the 3G services, Vinaphone expects to increase its turnover from mobile calls and subscribers by 30 percent and to recover its investment capital within seven years. 

The company’s 3G network currently covers 13 provinces and cities nationwide and it plans to expand to the whole country by 2010.

Source: VOV – Photo: tbic

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Coffee exports reach US$1.3 billion

In Vietnam Economy on October 14, 2009 at 4:30 am

Coffee exports reach US$1.3 billion

QĐND – Tuesday, October 13, 2009, 21:3 (GMT+7)

Vietnam exported 54,000 tonnes of coffee, with a total value of US$76 million in September, according to the Ministry of Agriculture and Rural Development.

The ministry said that 893,000 tonnes of coffee was exported in the first nine months of the year, worth nearly US$1.32 billion in turnover.

Compared with the same period last year, export volume in the first nine months increased by 16.8 percent, but export value declined by 18 percent, the ministry said.

The Vietnam Coffee and Cocoa Association predicted that the next crop would yield between 1-1.2 million tonnes of coffee.

The newly-harvested coffee would boost total coffee export turnover in the whole year to more than US$1.6 billion. The target is well within reach as Vietnam currently has excess supplies for export.

The association announced that supplies from major coffee exporters such as Brazil and India are estimated to have dropped by 6 percent due to bad weather. Global demand has also increased because of the world economy’s recovery.

Vietnam is now one of the leading Robusta coffee exporters, but Vietnamese exporters have little control over global prices as they are dominated by international speculators.

The association is now proposing that the Government provide loans to local coffee distributors to buy 200,000 tonnes of coffee from farmers.

On the London market, Robusta coffee price currently stands at US$1,437 per tonnes, a 1.3 percent increase over the previous months, and the highest level since September 23.

Source: VOVNews/VNA

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Buying petrol by debit card

In Vietnam Economy on October 14, 2009 at 4:29 am

Buying petrol by debit card

QĐND – Tuesday, October 13, 2009, 21:4 (GMT+7)

Petrolimex Company and PG Bank have jointly introduced FlexiCard as a mode of payment, without cash, at Petrolimex gas stations.

Flexicard, a combination of Prepaid and Debit cards, allows users to deposit and withdraw cash for their payments at Petrolimex gas stations or at PG bank branches.

The card, the first of its kind in Vietnam, can be used at more than 1,700 Petrolimex gas stations  nationwide.

Source: Tien Phong

Translated by Hoang Anh

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Vietnam to subsidize company borrowing to spur economic growth

In Vietnam Economy on October 14, 2009 at 4:29 am

Vietnam to subsidize company borrowing to spur economic growth

QĐND – Tuesday, October 13, 2009, 21:4 (GMT+7)

Vietnam will subsidize borrowing for companies and individuals to help boost growth in the Southeast Asian economy, the central bank said.

The State Bank of Vietnam will provide an interest-rate subsidy of as much as 4 percentage points on medium- and long- term loans disbursed between April 1 this year and Dec. 31, 2010, according to a statement on the bank’s website Monday.

The support will be offered through December 2011, it said. The bank didn’t say how much money would be spent on the program.

The government in January offered about VND17 trillion ($952 million) in subsidies to encourage banks to lend to companies at preferential interest rates.

Vietnamese banks have lent more than VND409 trillion to firms as of Oct. 8 under the government’s loan-subsidy program, the central bank said in a report on Oct. 9 on its website.

Vietnam’s economy will accelerate in 2010 after the nation avoided sliding into recession this year, the Ministry of Finance said in a statement on its Web site today. Growth in 2009 will be about 5 percent, the ministry said.

The government has asked local authorities to try to push through stimulus measures and boost consumption, production, business activity and exports, the ministry said.

“Although faced with the direct impact of the global financial crisis and recession, our economy didn’t fall into a recession,” the ministry said.

Source: Bloomberg

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EU urged to abolish anti-dumping duties on imported shoes

In Vietnam Economy on October 14, 2009 at 4:29 am

EU urged to abolish anti-dumping duties on imported shoes

QĐND – Tuesday, October 13, 2009, 21:4 (GMT+7)

EuroCommerce, which represents the retail, wholesale and international trade sectors in Europe, has urged the European Union to eliminate anti-dumping tariffs on leather shoes imported from Vietnam and China in January 2010.

“Any extension of the EU anti-dumping duties on imports of leather footwear from China and Vietnam could damage the consumer purchasing power and hamper Europe’s economic recovery,” said EuroCommerce Secretary-General, Xavier Durieu, in a press release on October 12. “EuroCommerce urges European leaders to give their assurance now that the measures will end in January 2010.”


In 2006, the EU decided to impose duties on imports of Chinese and Vietnamese footwear for two years only. An expiry review requested by producers led to a 15 month extension. Now, on the eve of expiry, any additional political ‘horse trading’ would both be detrimental to consumers, importers and retailers alike and would also damage adherence to the principles of the European Trade Defence system.

According to EuroCommerce, it is now time for the EU to keep its promise and to terminate these unjustified duties. European leaders must understand that abolishing these measures is essential to promote a truly competitive European industry, stimulate consumer demand and give the economy a boost it badly needs.

Sources from Brussels say EU member states are divided over whether or not to extend the deadline. Shoemakers and many other European governments have strongly protested against the EU’s extension plan. In addition, the measures adopted by the EU have not proved effective. Shoe imports from China and Vietnam have come to a halt but those from Indonesia and Thailand have increased dramatically.

The European Footwear Alliance (EFA), which represents famous brands such as Nike, Adidas and Timberland, says shoe prices have increased by at least 10 percent since the duties were imposed and EFA members have spent US$1.18 billion paying anti-dumping taxes over the past three and a half years.

EU member states will vote for the extension at a meeting in Mid November and make a final decision on January 3, 2010.

Source: VOV

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Provinces ready to cope with storm Parma

In Social life on October 14, 2009 at 4:28 am

Provinces ready to cope with storm Parma

QĐND – Tuesday, October 13, 2009, 21:4 (GMT+7)

Coastal provinces stretching from Quang Ninh to Thua Thien-Hue are bracing themselves for the tenth storm of this year.  

The Central Steering Committee for Flood and Storm Prevention and Control on October 13 held a meeting to direct provinces and cities to implement measures to cope with storm Parma. The National Centre for Hydro-meteorological Forecasting said that the storm would make landfall in the provinces from Thanh Hoa to Nghe An with packing winds of 8-10 categories.

*** The storm was located 70km off the coastline from Quang Ninh to Ha Tinh. The strongest wind in the eye of the storm was around 62-74km per hour. The coastal provinces from Quang Ninh to Nghe An would face rising sea levels with tidal waves surging 3-4m and there would be heavy rains from Thanh Hoa to Quang Binh.

***Nghe An and Ha Tinh are putting local forces on alert to evacuate people in case of emergencies when they are hit by the storm.

By October 13, the northeastern province of Quang Ninh had called ships back to the shore and informed the path of the storm to help offshore vessels to find shelter. Pham Dinh Hoa, chief of the provincial steering board for storm prevention, affirmed that vessels in Ha Long Bay had been ordered to stay input.

*** By October 12 Hai Phong province had guided 3,894 vessels and nearly 10,000 fishermen operating offshore to find safe shelter. The municipal steering board for storm prevention and control sent an urgent telegram to all districts and departments, asking them to keep local people fully informed about the storm’s development.

Source: VOV

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Nearly VND 900 billion invested in areas along the Da river

In Social life on October 14, 2009 at 4:28 am

Nearly VND 900 billion invested in areas along the Da river

QĐND – Tuesday, October 13, 2009, 21:4 (GMT+7)

The Prime Minister has recently approved a project to stablize population and boost socio-economic development in localities along the river Da during the period from 2009-2015.

The project, with an investment of VND 899 billion, aims to rearrange, build resettlements, and stablize life for local people. The project will also fund the building of some 204 terraced fields; establish plantations of 3,050 ha of forests; offer preferential rate loans to 5,000 households; and provide vocational training for 10,000 local people.   

Under the project, localities along the river Da will be developed into areas specializing in cultivation of sugar-cane, tea, bamboo, and the breeding and raising of farm and domesticated animals in the near future.

The project beneficiaries include 5 districts of Da Bac, Mai Chau, Tan Lac, Cao Phong and Kim Boi and 10 communes in Hoa Binh city.

Source: DDDN

Translated by Thu Nguyen

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Free job training for demobilized soldiers

In Social life on October 14, 2009 at 4:28 am

Free job training for demobilized soldiers

QĐND – Tuesday, October 13, 2009, 21:4 (GMT+7)

The Prime Minster has issued Decision 121, taking effect on Nov 23, 2009, to provide vocational training for demobilized soldiers.

Accordingly, demobilized soldiers are eligible to study at vocational, secondary, and higher educational schools, as well as to apply for loans for their studies. At the elementary grade, soldiers will receive a  training card, worth nearly the basic wage and will be good for 12 months.

The entire training costs, based on vocational training certificates issued to apprentices, will be paid by the government.

Source: Thanh Nien

Translated by Hoang Anh

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Diverse activities to mark Vietnam Entrepreneurs’ Day

In Politics-Society on October 14, 2009 at 4:27 am

Diverse activities to mark Vietnam Entrepreneurs’ Day

QĐND – Tuesday, October 13, 2009, 21:3 (GMT+7)

The President of the Vietnam Fatherland Front (VFF) Central Committee, Huynh Dam, has sent a letter of congratulation to Vietnamese entrepreneurs to mark their traditional day (October 13).

Mr Dam praised Vietnamese their significant contributions to promoting socio-economic development, consolidating national defence and security.

He expressed his hope that with their greater efforts the Vietnamese entrepreneurs will further develop their talents and help speed up the process of renewal, national industrialisation and modernisation, international integration as well as national construction and defence.

*** Many provinces and cities have held a wide range of activities to honour outstanding businesses.

At a meeting with 300 outstanding entrepreneurs in the central province of Quang Binh, the Small-and Medium-Sized Enterprise Association presented certificates of merits to organizations and individuals actively involved in the production emulation movement.

Vietnam now has nearly 2,040 businesses with a combined registered capital of more than VND8,270 billion.

Source: VOV

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PM Dung praises security academy

In Politics-Society on October 14, 2009 at 4:27 am

PM Dung praises security academy

QĐND – Tuesday, October 13, 2009, 21:4 (GMT+7)

Prime Minister Nguyen Tan Dung praised the contributions made by the Academy of the People’s Security at a ceremony on October 12 to mark the academy’s 40th anniversary and the implementation of President Ho Chi Minh’s vision.  

Prime Minister Dung said the academy has made achievements in education and training, and had implemented President Ho Chi Minh’s Testament over the past 40 years. 

He asked the academy to commemorate the event and to celebrate their accomplishment of promoting the revolutionary tradition of public security. He also thanked them for their full service to the fatherland and its people.

The academy has trained tens of thousands of graduates, and hundreds of post-graduates and doctors in the fields of security and intelligence.

Source: VNS/VOVNews

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