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Archive for March 17th, 2010|Daily archive page

Multi-national private oil & gas consortium debuts

In Vietnam Economy on March 17, 2010 at 4:45 pm

Multi-national private oil & gas consortium debuts

QĐND – Wednesday, March 17, 2010, 21:11 (GMT+7)

Some high-profile financial and technological foreign groups working in the oil and gas industry officially joined a private oil and gas consortium (SAONAM PETRO), the first of its kind in Vietnam, in Hanoi on March 16.

They include DSME of the Republic of Korea, AGR of Norway, and Longbeach Oil and Otto Energy of Australia.

Addressing the event, Vice Chairman of the National Assembly Nguyen Duc Kien said Vietnam is pursuing an energy development policy and that the inception of SAONAM consortium will create a change in the development of energy resources and the implementation of energy security policy in service of the country’s socio-economic development.

He asked the consortium to early carry out specific oil and gas projects in Vietnam.

According to SAONAM CEO Pham Van Quang, the group looks forward to participating in the search, exploration, exploitation and development of oil and gas fields offshore.

The consortium plans to invest in infrastructure of the energy sector in Vietnam, including a system of storage facilities, a trans-national gas pipeline, and a network of central gas storage facilities and stations for industrial zones and new urban areas.

Source: VNA

Source: QDND

Japan firm develops fiber-optic communications cables in Vietnam

In Uncategorized on March 17, 2010 at 4:45 pm

Japan firm develops fiber-optic communications cables in Vietnam

QĐND – Wednesday, March 17, 2010, 21:13 (GMT+7)

NTT East corp, affiliated to the Nippon Telegraph and Telephone Corp. (NTT) will install fiber-optic communications cables in Nomura Hai Phong Industrial Park in northern Vietnam.

The Japanese economic daily of Nikkei reported that the 153-hectare industrial park in Vietnam’s third-largest city that houses 53 companies, including Yazaki Corp., Toyoda Gosei Co. and Oji Paper Co., will be expanded to accommodate around 100 in the near future. NTT East will lay a total of 15km of cable there at a projected cost of several tens of millions of yen.

The fiber-optic cables will provide high-speed Internet access and VPN (virtual private network) capabilities to the park’s denizens, smoothing the way for teleconferencing and video transmission between Vietnam and foreign sites.

The Vietnam Posts and Telecommunications Corp., the company’s Vietnamese partner, will lay the cables, with NTT East Corp. providing technology for connections, responding to failures and assisting with operations and maintenance.

According to the daily, since 2007, NTT East has provided fiber-optic cables for Vietnam’s Thang Long Industrial Park, where Canon Inc. and Panasonic Corp. both have plants.

Source: VOV

Source: QDND

VND8 trillion to invest in developing 211 fishing ports

In Vietnam Economy on March 17, 2010 at 4:44 pm

VND8 trillion to invest in developing 211 fishing ports

QĐND – Wednesday, March 17, 2010, 21:13 (GMT+7)

Prime Minister Nguyen Tan Dung has approved an VND8 trillion project designed to build a total of 211 fishing ports in 28 coastal provinces and cities throughout the country from now until 2020.

Of those, 178 fishing ports capable of handling over 2.1 million tonnes of seafood each year will be constructed along the coast of the targeted localities and the remainder will be built on islands, which are capable of unloading 215,000 tonnes of seafood per annum.

In the first phase running to 2012, the project will prioritise the construction of key fishing ports as well as those, which are also used as shelters for fishing boats.

From 2013 onwards, it will build key fishing ports in line with the country’s overall planning and upgrade a number of fishing ports accessible to international ones.

Funding for the project will be sourced from state and local budgets, domestic economic sectors, and foreign investment inflows.

Source: VOV

Source: QDND

US slashes anti-dumping duties on Vietnamese seafood

In Vietnam Economy on March 17, 2010 at 4:43 pm

US slashes anti-dumping duties on Vietnamese seafood

QĐND – Wednesday, March 17, 2010, 21:13 (GMT+7)

The US Department of Commerce (DOC) has announced that the average anti-dumping tariff applied to shrimp products exported by 29 Vietnamese companies will decrease from 4.57 percent to 2.89 percent.

The anti-dumping duty reduction result from the fourth administrative review conducted by the DOC from February 1, 2008 to January 31, 2009.

The Vietnam Association of Seafood Exporters and Producers (VASEP) cited the DOC’s report as saying that the Minh Phu Seafood Company, one of the two compulsory defendants in the anti-dumping lawsuit, is subject to the highest tax of 3.27 percent, while the remainder, the Nha Trang Seafood Joint Stock Company, bears the lowest level, at 2.5 percent.

VASEP General Secretary Truong Dinh Hoe said the anti-dumping tariffs are adjusted every year based on the prices of shrimp exports to the US during that year and the dumping range applied to each company is calculated on the basis of the average dumping band of compulsory defendants.

According to the official, the anti-dumping tariffs will come into force when the US makes its final decision 90 days after the fourth review’s preliminary results were announced.

Director of the Nha Trang Seafood Company Ngo Van Ich said he hoped that the duties will be slashed to the lowest level, possibly to 0 percent, when the US makes its final decision, as the tariff already dropped 2.07 percentage points between the DOC’s third and fourth administrative reviews.

Meanwhile, four other seafood exporters – QVD, Vinh Hoan, SAMEFICO and Cadovimex II – are likely to enjoy a zero percent tariff for their frozen ‘tra’ fillet exports to the US.

The DOC made the decision after it conducted an administrative review, the fifth of its kind, of Vietnam’s ‘tra’ fillet exports to the US market from August 1, 2007 to July 31, 2008. VASEP Vice Chairman Nguyen Huu Dung said this is only a preliminary decision and the DOC will set out its final decision after four months.

Currently, the DOC is still imposing an average anti-dumping duty of US$0.02 per kg of ‘tra’ fillet exported by the An Giang Seafood Import-Export Company (Agifish) and East Sea (ESS JVC) and another 2.11 US$ per kg for the products shipped by other companies.

Source: VNA

Source: QDND

Hanoi poised to ease traffic congestion

In Politics-Society on March 17, 2010 at 4:43 pm

Hanoi poised to ease traffic congestion

QĐND – Wednesday, March 17, 2010, 21:11 (GMT+7)

Hanoi municipal authorities have asked the Prime Minister to add the city’s major traffic projects to the national target programme.

The request was made at a meeting between Prime Minister (PM) Nguyen Tan Dung, Deputy PM Nguyen Sinh Hung, Deputy PM Hoang Trung Hai and representatives from ministries and central agencies in Hanoi on March 17.

The meeting aimed to discuss measures to implement plans on socio-economic development and national security and defence in Hanoi, as well as the city’s major traffic projects and its preparations for the celebrations of the 1,000th anniversary of Thang Long-Hanoi.

The Chairman of the Hanoi municipal People’s Committee, Nguyen The Thao, delivered a report on Hanoi’s socio-economic development in 2009 and the first months of this year. He also pointed out some shortcomings in results of some major projects in the city, including traffic projects.

Mr Thao proposed that the Government create more favourable conditions for Hanoi to step up its key projects and attract more investment sources.

To ease traffic congestion, he asked the Prime Minister to add Hanoi’s plans on developing traffic infrastructure and building railways and flyovers to the national target programme, and so provide a prompt resolution.

Mr Thao also urged the Government to allow Hanoi to set up a fire department to deal with fires and explosions more efficiently in the city. Representatives from the Ministry of Public Security agreed to this proposal.

Participants in the meeting contributed ideas to resolving problems mentioned by Hanoi leaders. Representatives from the Ministry of Construction agreed to Hanoi’s proposal to improve degraded residential buildings. Representatives from the Ministry of Transport pledged to cooperate with Hanoi authorities in implementing key projects to prevent traffic jams. The Transport Ministry is currently expanding bus stations and intensifying strict management of taxis and buses.

Deputy Minister of National Defence, Nguyen Khac Nghien, affirmed that his ministry always provides good conditions for Hanoi’s ongoing projects to ensure national security and defence.

Source: VOV




Source: QDND

First capital-rural youth festival to open

In Politics-Society on March 17, 2010 at 4:42 pm

First capital-rural youth festival to open

QĐND – Wednesday, March 17, 2010, 21:11 (GMT+7)

The first capital-rural youth festival will be held in Hanoi on March 20-21 in commemoration of the 79th anniversary of the Ho Chi Minh Communist Youth Union and the 1,000th anniversary of Thang Long-Ha Noi.

The event has been organised by the Hanoi Youth Union with the purpose of encouraging young people to uphold the spirit of creativity and competition in the development of the national economy.

The event is expected to be a forum for young people to learn and exchange experiences in productivity.

During the festival, a series of activities will take place, including a ceremony to inspire young people to do business well, a seminar on building new rural areas, a youth camp, art performances and traditional sports games.        

Ngo Duy Hieu, Secretary of the Hanoi Youth Union, said the festival is of great significance as it has been organised for the first time after Hanoi decided to expand its administrative boundary embracing the largest rural area in the Red River Delta.

Source: VOV

Source: QDND

Tourists at loss to find local foods

In Vietnam Travel on March 17, 2010 at 2:49 am

Tourists at loss to find local foods

QĐND – Tuesday, March 16, 2010, 20:43 (GMT+7)

Visitors to HCM City usually find it hard to find local food specialties like candies to take back home as gifts due to the absence of tourist stores even though the country is a haven for tropical farm products.

“I don’t know where to buy locally made confectionery,” admitted Phan Quoc Viet, an English speaking tour guide with Sunrise Travel Agency.

He said he was embarrassed once when asked by guests to take them to a shop to buy candies.

“I know confectionery can be found at any local supermarket but the problem is they were looking for a store specialising in local brands, something not easy to find.”

“So I just recommended Ben Thanh Market.”

“Candies served in hotel lounges are mostly imported,” he explained.

The country exports fruits like rambutan, pine-apple, coconut, jackfruit, and banana to more than 60 countries and territories, according to the Institute of Southern Fruits.

But processors pay little attention to international visitors as potential customers despite the fact that many of them love to sample local tropical fruits or products made from them, like candies and cookies.

“I especially love cakes made of coconut or cassava which I eat right away because they taste exotic, delicious, and really Vietnamese,” a Japanese visitor who identified herself as just Shiubu said.

She would love to buy chocolate cookies which are tasty and much cheaper than in Japan, she said.

“Except cashew nuts and coffee, which are typical of the country, I don’t know what other specialties I should take home,” Italian tourist Laure Pausini said.

A German tourist who was travelling with his wife, said he was excited to see how coconut candies and rice cakes are hand-made in the Mekong Delta localities of Ben Tre and Can Tho.

“If these agricultural products are made easily accessible to tourists in cities, I think they will become very popular,” he added.

Tu Quy Thanh, director of Lien Bang Travel Agency, stressed the need to open specialised shops for tourists that sell a variety of local specialties.

“All goods there must be of high quality, safe, and produced by credible companies,” he said.

“We should make tourists spend more in the country.”

He said foreign guests are interested in desiccated fruits, coffee, and tea.

“If local travel agencies support the opening of a specialty store for international tourists, we will be more than happy to feature our products there,” Nguyen Anh Trung, deputy general director of Givral Bakery, said.

Source: VNA


Source: QDND

Farmers enjoy sugar rush

In Vietnam Economy on March 17, 2010 at 2:48 am

Farmers enjoy sugar rush

QĐND – Tuesday, March 16, 2010, 20:43 (GMT+7)

Farmers in the Mekong Delta provinces are rushing to plant sugarcane following the recent sharp increase in prices, and observers say it may lead to abundant supply this year.

From 850 VND-900VND per kilo in November 2009, the prices have shot up to 1,200-1,450 VND at present, as sugar mills struggle to get raw materials to meet their installed processing capacities.

The director of a sugar mill in the Mekong Delta said his factor had a processing capacity of 3,500 tonnes of sugarcane a day, but was only able to get 2,000 tonnes so far.

Nguyen Van Son, deputy director of the Can Tho Sugarcane and Sugar Company, said sugar mills had to compete with each other in buying sugarcane due to a shortage of the material, pushing up its price.

Several sugar mills had been forced to scale down production or even suspend operations due to a shortage of material, he said.

The situation has encouraged many farmers to return to sugarcane cultivation, after suffering losses in previous harvests.

Pham Thanh Son, head of Department of Cultivation in Soc Trang province, said as planned, Soc Trang would have 12,200ha devoted to sugarcane cultivation this crop.

But the current price hike had encouraged farmers to expand cultivation, Son said, noting that though the crop had just begun, as many as 7,000ha of land in the province had already been planted with sugarcane.

Nguyen Phuoc Hung, a farmer in Soc Trang province’s Cu Lao Dung district, said: “I have returned to sugarcane cultivation since its price has increased strongly in recent times.”

However, he was also worried that the current high prices would not stay for long. If the price drops, he will incur heavy losses as in previous years.

According to the An Giang Province’s Department of Agriculture and Rural Development, the province plans to have 15,000ha of sugarcane this year, an increase of 3,000ha over the last crop. But the real cultivation area this year could be much higher since farmers had tended to plant more areas with the crop, he added.

According to latest estimates, the sugarcane area in the Mekong Delta has increased by at least 30 percent over last year, when the region had 52,000ha under cultivation.

Source: VNA

Source: QDND

Gov’t tightens budget spending on properties abroad

In Vietnam Economy on March 17, 2010 at 2:47 am

Gov’t tightens budget spending on properties abroad

QĐND – Tuesday, March 16, 2010, 20:43 (GMT+7)

From April 26, 2010, purchases or construction of offices abroad worth 10 million USD upwards that use State budgets have to get a nod from the Prime Minister, decided a new regulation.

The Government decree No.23/2010/ND-CP sets qualifications for agencies to buy properties abroad with State budgets, which are limited to State-run agencies or agencies fed by State budgets.

The beneficiaries include those representative agencies abroad which have not yet owned any office buildings or any kinds of workplaces.

Also eligible are agencies abroad with their office and living space narrower than 70 percent of standards or their offices and accommodations getting degraded seriously.

Relevant properties projects abroad worth 10 million USD upwards also need to receive the Prime Minister’s approval in procedures and proceedings of investments and construction.

Source: VNA

Source: QDND

Underground marriage ring foiled at Tan Son Nhat

In Social life on March 17, 2010 at 2:47 am

Underground marriage ring foiled at Tan Son Nhat

QĐND – Tuesday, March 16, 2010, 20:57 (GMT+7)

To escape police notice, four Korean men appraised eighteen prospective brides in the parking lot at Tan Son Nhat Airport on March 15. However, the illegal marriage brokerage was discovered and three Vietnamese brokers were nabbed by HCM City police.

The Vietnamese brokers were Nguyen Thi Anh Nguyet, 32, Pham Thi Quyen, 32 and Pham Thanh Tung, 34. Nguyet was in charge of recruiting “prospective brides” while Tung searched for Korean “grooms”. 

Among four Korean men who were detained were two “grooms” – Cho Hyeongeun, 39, and Kim Beomsik, 47, and two brokers – Kim Okdo and Kim Yeong Sull, both 48.  

The 18 girls came from Mekong Delta provinces. 

Each Korean groom was to pay $4000 if they successfully “selected” a bride, including $1600 for the Korean brokers and $1500 for the Vietnamese brokers. The selected girls were to receive only three million dong ($160) each. 

The police headquarters in Tan Binh district (HCMC) said on March 15 that they have compiled dossiers on some 20 individuals connected to the underground marriage ring.

Source: VietnamNet

Source: QDND