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Archive for December 17th, 2010|Daily archive page

Vietnam-key market for Singapore

In Uncategorized on December 17, 2010 at 2:28 pm

Vietnam-key market for Singapore

QĐND – Friday, December 17, 2010, 20:56 (GMT+7)

Vietnam is a very important market to Singapore, said Raymond Lui- the Second Secretary of the Singaporean Embassy in a conference on investment opportunities in Singapore, held in Hanoi.

By September, 2010, Singapore was the 5th largest country from a total of 80 countries and territories that invest in Vietnam, with 851 projects in fields such as education and training, finance, information and communications, trade and service, transportation, infrastructure and tourism, with a total of registered capital of US$17.9 billion.

Many of Singapore’s businesses have paid special attention to other fields, including the processing industry, real estate, and construction.

At the event, Mr. Raymond Lui said that apart from attracting foreign businesses to invest in Singapore, the Government also encourages Singaporean businesses to invest overseas.

He also affirmed that a majority of Singapore’s businesses are long-term, even during economic global crisis (2008-2009), Singapore’s businesses kept investing in foreign countries. For example, in infrastructure, Singaporean businesses have been operating in Vietnam for over 10 years and continue to develop more.

Mr. Raymond Lui emphasised that in real estate, many Singaporean investors have made achievements in Vietnam such as Capital Land, and Banyan Tree, Allgreen Properties.

In particular, the Keppel Land Group has been in the Vietnamese market for 12 years and it now has a total investment capital of US$3.2 billion, most of which is in Ho Chi Minh City including The Estella and Waterfront development.

Vietnam is calling more investment in other fields including electronics, information technology, hotel and tourism services and agricultural processing, which Singapore’s businesses have a strong advantage. However, Singapore’s businesses still lack information on Vietnam and businesses don’t have ties with each other, following Le Truong Son, an investment counsellor from the Vietnamese embassy in Singapore. Vietnam has 20 businesses that invest in Singapore, with capital of over US$100 million.

To push cooperation between both countries and attract more Singaporean investment in Vietnam, the Government has appointed representatives to Singapore to promote investment and assist cooperation between both countries.

Delegates at the conference also suggested that Vietnam and Singapore should establish better information channels to provide enough information on investment the environment, business, and other markets.

Source: VOV

Source: QDND

HCM City takes lead in e-commerce

In Uncategorized on December 17, 2010 at 2:28 pm

HCM City takes lead in e-commerce

QĐND – Friday, December 17, 2010, 20:56 (GMT+7)

An international seminar on e-commerce took place in Ho Chi Minh City on December 16, attracting the participation of businesses, executives and lecturers in the country and abroad.

At the seminar, the first of its kind in Vietnam jointly held by the Viet Trung Hoa Investment and Development Joint Stock Company and Vietnam E-commerce Development Centre, participants discussed how to promote made-in-Vietnam products on international markets through e-commerce, while working on business strategies in line with global development trends.

The participants engaged in an exchange with Vietnamese businesses who are pioneers in applying e-commerce to business and with foreign experts to update information about e-commerce across the world.

The seminar also included direct talks with disabled people who have actively contributed to the development of society in general and to Vietnam’s information technology in particular, such as Le Dan Bach Viet MA, a blind teacher from Nguyen Dinh Chieu school for visually-impaired children, and Huynh Thi Kim Cuc, an IT expert.

Tran Vinh Nhung, Deputy Director of the HCM City Department of Industry and Trade, said businesses in HCM City are taking the lead in applying e-commerce, engaging in e-commerce trading floors and offering a wide range of online services.

However, Nhung said, they are facing numerous obstacles while using e-commerce, particularly regarding security and electronic payment systems.

The seminar provided an opportunity for participants to make suggestions to the HCM City People’s Committee on a plan to develop e-commerce in the 2011-2015 period.

Source: VOVNews/VNA

Source: QDND

Business forum on sustainable development

In Uncategorized on December 17, 2010 at 2:27 pm

Business forum on sustainable development

QĐND – Friday, December 17, 2010, 20:56 (GMT+7)

A business forum was held in Hanoi on December 17 by Vietnam Chamber of Commerce and Industry (VCCI) to assess the strategy for sustainable development in the past 5 years and approve the plan for the 2011-2020 period.

In the past 5 years, under the strategy, Vietnam has made important progress in hunger elimination and poverty reduction as well as population control, reducing unemployment and increasing access to, and quality of healthcare and education.

As of the end of 2010, more than 8 million people have been provided with jobs and the poverty rate has been reduced by 10 percent. Vietnam human development index (HDI) has continuously increased and is ranked 105 out 177 countries.

The assessment also gave much attention to natural resources and environment protection. The environment quality in some localities has improved which helped to raise people’s living standards.

Nguyen Tien Loc, VCCI Chairman said business development is at the core of sustainable development. “It is necessary for government agencies and research institutes to be involved in this process. The issues of energy, climate change and environment will be the focus in the future”, he said.

In addition, VCCI established the Business Council for Sustainable Development at the forum.

Source: VOV

Source: QDND

Tougher measures needed for power saving

In Uncategorized on December 17, 2010 at 2:27 pm

Tougher measures needed for power saving

QĐND – Friday, December 17, 2010, 20:56 (GMT+7)

Developing electricity and controlling energy to sustain the national economy only focuses on supply resources without paying due attention to controlling electricity use, say energy experts.

According to Deputy Minister of Industry and Trade, Hoang Quoc Vuong, Vietnam consumes approximately 80 billion kWh of electricity every year. In 2010, the country has saved 1 percent of the total electricity output (around 1 billion kWh). If electricity use is applied strictly and properly, savings of 3-5 percent can be made.

Disregard of power saving

Around 3,000 households across the country consume high levels of electricity almost 3 million kWh/year. However, Vietnamese businesses give no or little attention to saving power. 25 percent of businesses say that it is impossible to save electricity. Only one business says it will try its best to invest more to save power and reduce electricity by half in the future. These figures were released by the Vietnam Chamber of Commerce and Industry (VCCI) and the Asian Institute of Competition in the third quarter of this year.

The Energy Saving Department under the Ministry of Industry and Trade (MoIT) says that State and government agencies have devised a 10 percent power saving plan, but efficiency is still low due to a lack of solutions and sanctions. In addition, a cut in the number of lights on roads in provinces and cities and management of light systems for advertising and other services have proved inefficient.

The Chief of the MoIT Energy Saving Office, Nguyen Dinh Hiep, says that industry and construction have a great potential for power saving but most small and medium-sized enterprises involved in these two sectors find it difficult to save electricity because they still use outdated technology, which consumes greatly energy and requires huge costs to replace. In addition, technological renovation is an uphill task that needs more time to be dealt with.

Power saving needs a stricter process from production, transmission to consumption.
The Deputy Director of the Electricity of Vietnam (EVN), Dang Hoang An says that by late 2008, EVN reduced the loss of electrical energy to 9.24 percent (under double figures). To reach the goal of reducing electrical energy loss for the following years, a score of measures need to be taken, with a focus on technical management, business administration and an upgrade of electricity networks.

EVN aims to reduce energy losses to below 8 percent by 2012. This is a challenging plan, as the electricity sector is facing a lot of difficulties such limited investments and the improper upgrading of electricity networks.

Another issue of concern is that the economy uses a lot of energy but the efficiency is not high. Vietnam leads many regional countries in electricity consumption, so it is clear that power savings must be in line with a target for reducing electricity use, says An.

An quotes the WB’s survey that efforts to create GDP from 1kWh electricity plants in Vietnam are poor. If Vietnam does not pay attention to saving electricity and natural resources in the next few years the country will face pressure in supply and demand.

Exhausting primary energy

National energy security is closely connected with primary energy. Vietnam will have to import around 30 million tonnes of coal per year by 2020, 57 million in 2025 and 121 million tonnes in 2030. Meanwhile world’s two largest coal producers– Indonesia and Australia – export around 200-210 million tonnes each.

According to EVN, 2015 will be the first year Vietnam will start to import coal. The country will import 30 million tonnes of coal in 2020, equal to one sixth of Indonesia’s total export volume. On December 22, 2010, the Lai Chau hydroelectric power plant will be inaugurated with a capacity of 1,200MW and will be the last big capacity hydroelectric power plant to be built.

The problem is where will Vietnam will buy coal and how the price of electricity will be affected at that time?

He added that it is time to balance energy needs because the country will have to import primary energy in the next five years. Ensuring national energy security, including electricity can happen only when there are proper measures to control supply and demand.

Nguyen Tien Chinh, head of the Department of Scientific Technology and Development Strategy of the Vietnam National Coal and Mineral Industries Group says that the country should consider carefully how much coal we have, when building thermal electric power plants which use coal. The country does not have clear plans for power savings and pays not enough attention to controlling imported technologies and uses too much energy for cement and steel plants.

Source: VOV

Source: QDND

Floor price for Tra fish comes into effect

In Uncategorized on December 17, 2010 at 2:26 pm

Floor price for Tra fish comes into effect

QĐND – Friday, December 17, 2010, 20:56 (GMT+7)

The floor prices for exports of Tra fish will be enforced by the first quarter of next year, said Duong Ngoc Minh, Deputy Head of the Vietnam Association of Seafood Exporters and Producers (VASEP).

This is the result of a meeting between 20 largest Tra fish exporters of VASEP at the end of last week.

Floor prices are now US$3/kg for white meat Tra fish and US$2.05/kg for the red meat. The prices for Tra fish bought from farmers must be more than US$1/kg.

These prices will not be applied in the US market due to the difference in payment methods relating to anti-dumping taxes.

Minh also said that the demand for Tra fish in the EU market is still rising despite being listed on the World Wildlife Fund (WWF) red list. EU customers want more Tra fish for fear of short in supply from Vietnam in the future.

Source: VOV

Source: QDND

Bac Lieu Bird Sanctuary to become an ecotourism area

In Uncategorized on December 17, 2010 at 2:26 pm

Bac Lieu Bird Sanctuary to become an ecotourism area

QĐND – Friday, December 17, 2010, 20:57 (GMT+7)

The Bac Lieu Bird Sanctuary, which is home to rare flora and fauna, will become an eco-tourism area, according to a decision by the Bac Lieu Provincial People’s Committee.

A VND100 billion project has been initiated by an investor, the Rong Vietnam Investment and Tourism Joint Stock Company, to build the Bac Lieu Eco-tourism Area on an area of 130 hectares with 12 zones, including a national park and a nature reserve, with some of them expected to be completed before the coming Tet holiday.

All rare flora and fauna as well as landscapes will be preserved and protected while tourists visit the site.

The sanctuary with a rich and diversified biology has attracted 78 species of birds, with many listed in the Red Book of Vietnam, said Mr. Luong Ngoc Lan, Deputy-Director of the Province’s Agriculture and Rural Development Department

Source: Vnexpress

Translated by Duy Minh

Source: QDND

Vietnamese students bag first gold medals at AUG-15

In Uncategorized on December 17, 2010 at 1:59 pm

Vietnamese students bag first gold medals at AUG-15

QĐND – Friday, December 17, 2010, 20:53 (GMT+7)

Vietnamese students won their first medals on Dec. 16 at the on-going 15th ASEAN University Games (AUG-15) in Chiangmai, Thailand.

In the first day of competition, karatedo martial artists bagged two golds in the kata (performance) events for single women and men’s team and two silvers in the same events for single men and women’s team.

Also in the day, the table-tennis team surpassed Malaysian and Myanmar rivals in the qualifying round to berth a place in the next round and the beach volleyball team defeated Singaporean team 2-nil.

The Vietnamese team with two golds and two silvers is standing first in the medal tally, while Indonesia and Laos are runners-up. The host Thailand is ranked fourth with two bronzes, followed by Malaysia.

The AUG-15 will last until Dec. 23. The Vietnamese team competes in eight out of 17 sporting events, including athletics, pencak silat, football, swimming, table tennis, Taekwondo, karatedo and beach volleyball.

Besides sports competition, the students will also join in exchanges and tours to boost the mutual understanding between students of ASEAN countries.

Source: VNA

Source: QDND

Vietnamese-Americans help children in homeland

In Uncategorized on December 17, 2010 at 1:59 pm

Vietnamese-Americans help children in homeland

QĐND – Monday, December 13, 2010, 21:11 (GMT+7)

Miss National Asia in the USA, Michelle Nguyen Thuy Trang, and the runner-up of Miss World Vietnamese, Thuy Vy Victoria, will represent Vietnamese-Americans in the USA to do charity in Vietnam.

Specifically, on December 15th, the former will give assistance to the needy in Tra Vinh. Later, on December 17th, the latter will join the former to do several charitable activities for underprivileged children in the homeland.

US $8,000 for these charitable activities was raised by Vietnamese beauties in North California in mid-November in San Jose, California, during an evening to raise funds for poor and sick children in Vietnam.

These beauties wish to establish a non-profit organisation to call for support for the poor in Vietnam every year.

Source: Vnexpress

Translated by Mai Huong

Source: QDND

Comedies on traffic to be staged

In Uncategorized on December 17, 2010 at 1:58 pm

Comedies on traffic to be staged

QĐND – Tuesday, December 14, 2010, 20:20 (GMT+7)

On December 15th, the director, Le Hung, will introduce to the public a series of comedies on traffic culture themed “Traffic- National Calamities” at the Hanoi Opera House.

The show with four short comedies “Cultural Family”, “The Mad people on the road”, “A sad story in the emergency room” and “Being drunk is zero”, is a part of the program “Bring traffic culture to the community through the media and arts” led by the Centre for National Cultural Preservation and Management.

According to actor Si Tien, assistant to Le Hung, the series is created by about 30 actors and actresses of the Youth Theatre and many stage properties such as motorcycles and bicycles, etc to make a program closer to the daily life theme for audience.

The “Traffic- National Calamity” will be broadcasted live on the Hanoi Radio and Television and is seen as a good way to highlight some of the major issues of traffic already in the national consciousness.

Source: ANTD           

Translated by Van Hieu

Source: QDND

Doosan invests US$ 1.3 billion in power plant

In Uncategorized on December 17, 2010 at 1:58 pm

Doosan invests US$ 1.3 billion in power plant

QĐND – Tuesday, December 14, 2010, 20:20 (GMT+7)

Doosan, the parent company of Doosan Vina, specialising in heavy industry and construction, has just signed a contract, valued at US$ 1.3 billion, to build a power plant in Mong Duong, Quang Ninh Province.

Doosan Vina, its subsidiary in Vietnam, already operating a manufacturing plant in the Dung Quat Economic Zone, will play an important role in the contract, according to the company.

Accordingly, Doosan will provide expertise and technology for partners in building, operating and transferring the power plant.

Representatives of Doosan also said that the project will be implemented by the company, AES-VCM and Mong Duong Power Company, in which Doosan is responsible for supplying technology and equipment to build the hi-tech power plant of Mong Duong with a designed capacity of 1,200 mW.  

The construction of the plant is expected to be finished by June 2015, the investors said.

Source: TBKT

Translated by Thu Nguyen

Source: QDND