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Posts Tagged ‘advance’

Gov’t to advance $3 mln equivalent to flood-hit provinces

In Uncategorized on December 16, 2010 at 9:29 am

Prime Minister Nguyen Tan Dung has directed the Ministry of Finance to advance VND61.6 billion (US$3 million) out of total VND335 billion from the central budget to eight central provinces which have been damaged by the recent floods. 

File photo of houses flooded in Ninh Hoa District, Phu Yen Province (Photo: SGGP)

The money is expected to help flood victims buy seeds, domestic animals, and restore production, which the floods have caused.

On December 3, PM Dung decided to extract VND335 billion (US$16.75 million) from the State budget and 8,600 tons of rice from the National reserve to support and assist the central provinces to recovered from the consequences of the recent flooding.

The chairperson of the eight provinces people’s committees will be responsible for the distribution of the money for the correct purpose.

The PM’ has decided to distributed the money to the following provinces: Quang Nam, Quang Ngai, Binh Dinh, Phu Yen, Khanh Hoa, Ninh Thuan, Dak Lak and Gia Lai provinces.

In related news, Minister of Industry and Trade Vu Huy Hoang on December 7 worked with leaders of the Phu Yen Province. This was to ensure that water release from hydropower plants, and the price stabilization was in place, during the upcoming Lunar New Year Holiday Celebrations.

The Provincial People’s Committee asked the government to supply an extra of 2,000 tons of rice, 1,000 tons of seed, 10,000 litres of pesticides to help residents restore production and prevent environmental pollution.

The province also asked the government to support VND185 billion (US$9.2 billion) to upgrade irrigation works in the area.  Mr. Hoang said that he would send a report to the government about the province’s petitions.

Source: SGGP

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


Source: QDND

VN-Index lacks impulse to advance

In Uncategorized on July 15, 2010 at 1:10 pm

Movements of VN-Index on July 15. (Photo:’s benchmark VN-Index slid for the second day on July 15 as hesitation returned to the market.

The index of 246 companies and four mutual funds listed on the Ho Chi Minh Stock Exchange, gave up 0.42 percent, or 2.15 points, to close at 505.19.

On the index, 67 shares increased, 136 dropped, and 47 were unmoved.

Liquidity on the market was its lowest in the past three days as just 42.6 million shares changed hands at VND1.26 trillion.

Saigon Thuong Tin Commercial Bank or Sacombank (STB) stayed on the position of most active shares by volume for the third consecutive day. The bank saw 2.96 million shares traded today.

Ocean Group Joint Stock Company (OGC) followed with 1.69 million shares changing hands.

Vietnam Electricity Construction Joint Stock Corporation (VNE) tagged along with 1.57 million shares. The company lost 4.76 percent to VND24,000 today.

From July 16 to September 14, Doan Thi Dao, sister of Dao Duc Hong – chairman of Vietnam Electricity Construction Joint Stock Corporation (VNE), registered to sell all 10,000 shares for personal expenses.

From July 16 to September 15, Nguyen Dau Thao, member of Board of Directors of Vietnam Electricity Construction Joint Stock Corporation (VNE), registered to sell 100,000 shares, cutting her holdings to 150,000 shares, to pay for purchase of additional shares.

South Logistics Joint Stock Company (SGT) declined 4.88 percent to VND39,000.

Viet Nam Land Investment Corporation (VNI) reduced 4.56 percent to VND27,200.

From July 19 to October 19, Viet Nam Land Investment Corporation (VNI) registered to buy 100,000 shares, increasing its treasury stocks to 200,130 shares.

Binh Duong Mineral and Construction Joint Stock Company (KSB) gained 4.96 percent to VND63,500.

Between May 6 and July 6, PXP Vietnam Fund Limited, a major shareholder of Binh Duong Mineral and Construction Joint Stock Company (KSB) registered to sell 176,147 shares, restructuring its investment category, but it was not able to sell because prices were not as high as expected. Its current holdings totaled 706,147 shares, accounting for 6.6 percent of VNE’s chartered capital.

Cuong Thuan Investment Corporation (CTI) rose 4.95 percent to VND48,800.

Khanh Hoi Import Export Joint Stock Company (KHA) climbed 4.94 percent to VND25,500.

Hanoi’s HNX-Index also fell 1.05 percent, or 1.71 points, to 160.71. Around 42.1 million shares changed hands, valued at VND1.23 trillion.

The UPCoM-Index lost 0.47 points to 58.16 points. The market of unlisted shares saw 133,450 shares traded at VND2.3 billion.

Source: SGGP

HCMC farmer association proposes advance of $116,000 to sue Vedan

In Uncategorized on June 18, 2010 at 4:33 am

Ho Chi Minh City Farmer Association said it will propose that the city People’s Committee seek funds from the city’s budget to advance VND2.2 billion (US$116,000) to famers in Can Gio District, to pay fees necessary to take legal action against Taiwanese MSG producer, Vedan.

The wastewater processing tank at Vedan. The company heavily contaminated Thi Vai River. (Photo:VNA)

The city People’s Committee had requested Vedan pay damages to farmers VND45.7 billion ($2.4 million). The claim was legitimate, based on results of investigations done by the Institute of Environment and Natural Resources acting upon the request of the Prime Minister and the environment ministry, said Phung, chairman of the association.

The association will also coordinate with the city Lawyers Association, the Department of Agriculture and Rural Development, the Department of Natural Resources and Environment and the Institute of Environment and Resources of the HCM National University, to prepare documents necessary to sue Vedan if the company does not properly compensate victims of the pollution they caused in the Thi Vai River.

Earlier, representatives from the company said it would support farmers in the Can Gio District with VND7 billion ($368,000), accounting for one-tenth of the farmers’ actual losses, but it added that it was difficult to legally prove how much they were affected by the pollution.

The city People’s Committee asked relevant agencies to determine the best method for demanding Vendan comply and provide satisfactory compensation.

In September 2008, Vedan was caught discharging untreated wastewater to the Thi Vai River in Dong Nai province, causing serious pollution and heavy losses to thousands fishing households, including those in Dong Nai, Ba Ria-Vung Tau and HCM City’s Can Gio District. It turned out that the company had been doing it for 14 years.

Source: SGGP

Ronaldo turns on style as Real advance in Champions League

In Vietnam Sports on December 9, 2009 at 1:32 pm

MARSEILLE, France (AFP) – Portuguese star Cristiano Ronaldo turned on the style with Real Madrid Tuesday as the Spanish giants advanced with ease to the knock-out round of the Champions League with a 3-1 victory at Marseille.

A double from Ronaldo and a Raul Albiol goal ensured the nine-time European champions lead the way in their Group C and go through to the second round after their 3-0 reverse fixture win.

Cristiano Ronaldo takes a free-kick to score against Marseille during their UEFA Champions League football match in Marseille, southern France (AFP photo)

The win spelled the end of Marseille’s Champions League dream with their coach Didier Deschamps paying tribute to their opponents.

“There is a difference between Marseille and Real Madrid. I knew it before and I know it even better now,” said the Marseille coach.

“They are better technically, there’s no doubt about it. We could only hope and admit it’s a pity we missed out on chances.”

Ronaldo showed he was back at his best after his two months on the sidelines with an ankle injury following a tackle by Marseille defender Souleymane Diawara at the Santiago Bernabeu on September 30.

And the striker, already the author of a double in the reverse leg victory, put his side on their road to victory after just five minutes at the Velodrome.

Deschamps’ side had been given a mountain to climb and their misery was compounded within minutes after Real were awarded a free kick following a Djibril Cisse challenge on Dutch midfielder Rafael Van der Vaart.

Ronaldo stepped up and from 30 metres out the world’s most expensive footballer fired a curling shot, which grazed the fingers of Marseille goalie Steve Mandanda, into the top left corner of the net.

The hosts refused to be browbeaten, rallying their forces and their persistence paid off six minutes later when midfielder Lucho pulled Marseille level after a Brandao header was cleared by Raul Albiol straight into the Argentinian striker’s path.

Brandao looked to have pulled Marseille ahead nine minutes later but his delight was short lived as he was ruled offside.

But Real showed their determination not to sit back on their advantage consistently pushing forward to worry the Marseille defence.

The visitors missed a golden opportunity to add to their tally after 28 minutes when a Van der Vaart corner resulted in a melee in front of the Marseille goal.

Mandanda did well to pull off successive saves following a barrage of efforts from Sergio Ramos, Gonzalo Higuain and Pepe before a Ronaldo shot hit the post.

Six minutes later Real missed another chance after Ronaldo picked up a Ramos centre only for the ball to fly just over the bar.

Marseille were lucky to leave the pitch level at the half-time mark following a scramble on front of their goal in the dying minutes with both Marcelo and Ronaldo missing the target.

After the break the Spaniards continued to push forward and the pressure paid off after 60 minutes when Albiol finished off a Van der Vaart corner.

Marseille’s slender hopes dived further five minutes later after missing a penalty awarded for a blatant Iker Casillas foul on Mamadou Niang which resulted in the Senegalese international being stretchered with a shoulder injury.

Lucho stepped up to take the shot which left Deschamps shaking his head in disbelief as it hit the bar.

Ronaldo compounded their misery after 80 minutes after an error from Mandanda allowed the Portuguese player to fire into an empty net with Karim Benzema coming close to a fourth minutes later but his effort went wide.

Source: SGGP Bookmark & Share

FDI projects advance in Phu Yen

In Uncategorized on August 19, 2008 at 5:12 pm

Workers give final touches to a glass window for export at the US-invested SEMCO Co in Phu Yen’s Hoa Hiep Industrial Zone. FDI projects now provide an annual income of more than US$150 million for Phu Yen, with export value gaining more than $90 million. — VNA/VNS Photo Hong Ky

PHU YEN — Foreign direct investment (FDI) in the central province of Phu Yen has increased in both quantity and quality, according to the provincial Department of Planning and Investment.

Since the first foreign invested project implemented in the province in 1991, the number of foreign invested projects has rapidly increased, helping to industrialise the province.

According to the Department, when the province was re-established in 2000, it had 10 foreign invested projects with a total registered capital of US$54 million.

However, in the 2001-05 period, when the Law on Foreign Investment in Viet Nam was revised, FDI in the province boomed. Twenty six new projects with registered capital of $183 million were been licensed.

Since then the province has developed a reputation for attracting foreign capital, especially through major projects such as building the Vung Ro Oil Refinery Plant, backed by the UK’s Technostar Management and the Russian Telloil company with, total investment of $1.7 billion. Other large projects include the recent Hoa Tam petro-chemical industrial zone as well as another petro-chemical project by the Naphtha Cracking petro-chemical group of Singapore, with both a combined total initial investment worth $11 billion.

The province now has 25 foreign invested projects with actual total investment of more than $1.9 billion from investors from 18 countries and territories. Among these investors, Russia and the UK top the list, with total combined capital of $1.7 billion.

The foreign-invested work in Phu Yen focused in industrial projects, including 12 projects currently with total investment of $146 million, an oil and gas project with total capital of $1.7 billion and three fisheries projects worth $23.8 million.

The foreign invested projects now create an annual income of more than $150 million for the province, with export value gaining more than $90 million and creating jobs for 3,000 local labourers with average incomes of VND1 million a month.

The department said that although the foreign invested projects’ contribution to local GDP was still small, these projects had actively contributed to transforming the provincial economic mechanism to focus on the development of industry and services, and reduce a past focus on agriculture.

“When the foreign invested projects in oil and gas are put into operation, the province will become a new oil and gas centre of the country,” said an official from the department. —