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Posts Tagged ‘overseas’

An Overseas Vietnamese owns 1,000 hectares of sugar cane in Vietnam

In Uncategorized on March 26, 2010 at 7:42 am

An Overseas Vietnamese owns 1,000 hectares of sugar cane in Vietnam

QĐND – Tuesday, March 09, 2010, 20:27 (GMT+7)

Turning down an offer of a position in the hotel and tourism sector in Australia, Tran Dat Duy decided to return Vietnam to do something for the country.

He is now the general director and CEO of Kien Giang Tourism Joint Stock Company and Vice Chairman of the Tourism Association of Cuu Long River Delta. Despite numerous successes with many tourism projects, Duy had been very interested in the project of planting 1,000 ha of sugar cane in Long Xuyen, Hon Dat, Kien Giang.

 Tran Dat Duy, a native of Bac Lieu province left for Australia in 1983, when he was the first year student of Ho Chi Minh City University.

While continuing his study in Australia, Duy did various part time jobs, from dish washing to grass cutting, to earn extra money. After that, he applied to the Business Administration University.

Before graduating in 1985, Duy received a two-year scholarship offer from a tourism and hotel corporation on condition that he would have to work for them for at least five years after graduation.

Duy rejected the offer and decided to come back to Vietnam in 1992 with the determination to do something for the homeland.

When the Vietnamese Government launched the programme “One million tone of sugar” in 1995, Duy got involved in providing financial guarantees and brokerage, as he had done some research on the sugar industry of Australia, the world’s most powerful sugar producer. However, the Australia’s model was impossible to apply in Vietnam since factories in Vietnam are far away from production zones.

Realising this difficulty, Kien Giang’s authorities had asked Duy for help to set up a 1,000 ha production zone close to Kien Giang Sugar Factory. The project costs him nearly VND 40 billion in developing infrastructure, especially irrigation and an electricity system. Capable of 60 tonnes of sugar canes per hectare, the zone has around 200 regular workers.

Before the project, Duy had planted 300ha of sugar cane in Tay Ninh, 200ha in Phu Yen and 600 ha in Binh Thuan province.

“Planting sugar cane on alum-based soil is really a hard nut to crack” Duy confided. They had to pump water in the field in dry season and pump water out in rainy season to dilute the alum in the soil.

All these difficulties and hardships could not prevent Mr. Duy from implementing this project, considering it part of his contributions to the country. Duy even plans to set up a tourist spot at the Long Xuyen quadrangle.

Source: Tien Phong

Translated by Hoang Anh

Source: QDND

Expanding rubber plantation overseas

In Vietnam Economy on March 9, 2010 at 8:51 am

Expanding rubber plantation overseas

QĐND – Monday, March 08, 2010, 21:7 (GMT+7)

The Vietnam Rubber Group will accelerate planting rubber trees in Laos, Cambodia, Myanmar and South Africa in the near future.

Currently, the group is managing 160,000ha of rubber with an output of nearly 300,000 tonnes per year. The group aims to exploit around 520,000ha of rubber trees in 2020.

By 2020, Vietnam aims to export around 1 million tonnes of rubber, and become of one of the world’s leading rubber exporters.

Last year, the group earned nearly US$1 billion from exports and US$200 million from profits.

Source: CPV/ VOV

Source: QDND

First overseas Vietnamese conference to unite whole nation

In Vietnam Society on November 22, 2009 at 12:23 pm

The first ever Overseas Vietnamese Conference opened in Hanoi today aimed at strengthening ties between Vietnamese living abroad and their home country, according to the State Committee for Overseas Vietnamese under the Ministry of Foreign Affairs.

President Nguyen Minh Triet meets with overseas Vietnamese intellectuals and businessmen at the conference in Hanoi, Nov. 21. 2009. (Photo: VietNamNet)

The conference, themed “For a community of solidarity and strength, contributing to the cause of building the country,” attracted 1,500 delegates, including around 850 overseas Vietnamese intellectuals, businessmen, artists, religious and social activists, and students, who represent Vietnamese communities in 101 countries and territories worldwide.

After the opening ceremony, four seminars were held themed around building a strong community of successful overseas Vietnamese, retaining national culture and tradition, intellectuals’ and experts’ contribution to the home country’s development, and overseas Vietnamese entrepreneurs’ contribution to building the country.

Tran Trong Toan, the Committee’s standing deputy head, said the conference offers a forum to exchange views, collect opinions, mobilize resources of overseas Vietnamese communities to contribute to the country’s industrialization and modernization, and promote the communities’ brainpower to contribute to the preparations of the XI Party Congress.

At the conference, local and overseas collectives and individuals who have made great achievements in mobilizing overseas Vietnamese to contribute to the cause of national liberation and construction were also praised.

The conference is among the main activities under a Government action program on expatriate Vietnamese affairs and the Prime Minister’s Instruction 19 on overseas Vietnamese activities.

Instruction 19 calls on provinces and ministries to take responsibility for overseas Vietnamese affairs and requires them to protect the interests of overseas Vietnamese enshrined in Vietnamese laws, international conventions, and precedents.

This year, overseas Vietnamese sent remittances of US$6.8 billion to relatives and businesses in Vietnam, a decline of $400 million over 2008.

The Committee said overseas Vietnamese have invested in about 3,000 projects in Vietnam with a total investment capital of $2 billion.

Source: SGGP Bookmark & Share

Listing stocks overseas: easier said than done?

In Uncategorized on November 13, 2008 at 11:49 am

HA NOI — Domestic enterprises are exploring offshore listings – especially on regional exchanges such as Singapore Stock Exchange – as an alternative means to raise capital during the global credit crunch.

Among such enterprises, PetroVietnam Finance Corporation (PVFC) – the financial arm of domestic petroleum giant PetroVietnam – recently announced a plan to list shares on the Singapore exchange with the support of strategic partner Morgan Stanley Singapore.

Another PetroVietnam subsidiary –PetroVietnam Insurance Corporation – has also set plans in motion to list shares in Singapore in 2009.

Dairy giant Vinamilk, Saigon Securities Inc, and software giant FPT have also been exploring the possibility of overseas listings since last year.

“International integration is inescapable now that we are a WTO member, and listing offshore is a part of integration,” Deputy Prime Minister Pham Gia Khiem said yesterday at a workshop on listings and IPOs of Vietnamese businesses on foreign stock exchanges.

“It’s time for domestic enterprises to prepare for offshore listings in the coming years when the global economic situation improves,” Khiem said.

Khiem also noted that offshore listings would help enterprises diversify their access to foreign capital and provide an additional effective channel to mobilise capital.

He acknowledged, however, that a legal framework was not yet in place to guide firms in making overseas listings.

State Securities Commission chairman Vu Bang confirmed that no firm with announced intentions to list offshore had yet carried out their plans.

“It’s not just that the global credit crunch is drowning equity markets worldwide,” said Bang. “It’s also for the difference between the listing criteria of Viet Nam – a new stock market – and other, more established markets.”

Auditing standards between Viet Nam and Singapore, for instance, were quite different in methods of appraising the value of corporate assets and the market value of shares, Bang said.

According to Le Hai Tra, a member of HCM City Stock Exchange’s management board, the costs of making an offshore listing is also prohibitive.

State Bank of Viet Nam deputy governor Nguyen Dong Tien said, however, that the central bank would soon issue guidelines to help firms comply with foreign listing requirements, as well as providing financial support for them. —

Overseas Vietnamese aid calamity victims

In Uncategorized on October 18, 2008 at 12:24 pm

Berlin (VNA) – Overseas Vietnamese throughout Germany have raised a total of 2,600 Euro to support local people in Vietnam’s northern and central regions who were victims of recent storms and floods.

Overseas Vietnamese in Cloppenburg city which borders the Netherlands donated 970 Euro, while the association of Vietnamese people in Thueringen state granted 1,100 Euro. The rest was contributed by the “Song Hong” (Red River) association in Potsdam, Brandenburg .

The money will be channeled through the Embassy of Vietnam in Germany for the natural disaster-affected people.-

First chemistry workshop for overseas Vietnamese

In Uncategorized on September 24, 2008 at 12:34 pm

Hanoi (VNA) – The first workshop on chemistry and chemistry technology for overseas Vietnamese will be held in Paris, France, between November 7-8.

The workshop organisers expect to attract more than 100 scientists, including overseas Vietnamese and those living in Vietnam , said the organising board, adding it aims to build links between Vietnamese chemists, regardless their work is at home or overseas.

According to the Overseas Vietnamese Committee, 300,000 out of 3 million overseas Vietnamese living in 90 countries and territories are intellectuals, with the majority residing in France, the US and Australia.-

More housing options open for Overseas Vietnamese

In Uncategorized on September 15, 2008 at 10:54 am

HCM CITY — Some 100,000 overseas Vietnamese (Viet Kieu) could buy homes in Viet Nam, according to the National Committee of Overseas Vietnamese.

The committee, which operates under the Ministry of Foreign Affairs, announced the figures following Construction Minister Do Hong Quan’s report on a proposed amendment to the Housing Law sent to the Prime Minister on Wednesday.

Under the amendment, more overseas Vietnamese will be allowed to buy houses in Viet Nam, according to Deputy Minister of Construction Nguyen Tran Nam.

Under the amendment, individuals of Vietnamese origin living abroad but still holding Vietnamese nationality would be allowed to purchase homes.

Others permitted to buy homes include those who no longer have nationality but invest in the country in accordance with the Foreign Investment Law, and those who have married local residents who live in Viet Nam.

Overseas Vietnamese who have made significant contributions to Viet Nam and others who hold university or higher degrees and currently work in social and economic areas in Viet Nam are also included.

Under the amended law, they will be allowed to own an unlimited number of houses like the locals.

Nam said the amendment showed that the Government recognised the overseas Vietnamese community as an inseparable part of the country.

Under a decree issued by the Government in November 2001, overseas Vietnamese who make a long-term investment in Viet Nam, or those who make considerable contributions to their native country, conduct cultural and scientific activities in Viet Nam and want to have permanent residence in Viet Nam, are entitled to buy only a house, an apartment or a villa in permitted residential areas.

According to figures from the Ministry of Construction, eight years after the issue of the decree, only 130 overseas Vietnamese have purchased houses in Viet Nam, mainly in HCM City and Ha Noi. —

Decree helps overseas Vietnamese own houses

In Uncategorized on September 12, 2008 at 5:10 pm

Hanoi (VNA) – The Ministry of Construction on Sept. 10 issued a draft decree that will make it easier for Viet Kieu (Overseas Vietnamese) to own homes in Vietnam .

The bill amends and supplements article No 126 of the Housing Law on home ownership for overseas Vietnamese. The draft law, which has been submitted to the Government for approval, will divide overseas Vietnamese allowed to buy houses in Vietnam into three categories.

Vietnamese citizens living abroad who retain their Vietnamese nationality will be eligible to buy an unlimited number of houses in Vietnam .

Those of Vietnamese origin who have not retained their Vietnamese citizenship will also be allowed to own an unlimited number of house in Vietnam if they are married to a Vietnamese citizen living in the country, have made significant contributions to the country or are university graduates who are working in Vietnam ’s socio-economic sectors.

Those of Vietnamese origin who have been in Vietnam for at least six months or hold a visa-exemption certificate will be permitted to own a single residence in the country.

If the changes are adopted, nearly two million out of three million overseas Vietnamese will be eligible to buy houses in Vietnam , according to the ministry.

“The move is aimed at encouraging more overseas Vietnamese own houses in Vietnam , thus creating more equality in home-ownership rights for Vietnamese citizens both at home and abroad,” said Minister of Construction Nguyen Hong Quan.

The current regulation stipulates that overseas Vietnamese can only own property in the country if: they are of Vietnamese origin and long-term investors in Vietnam, scientists or cultural experts, they have made significant contributions to the country, or are entitled to live in Vietnam for a protracted period of time.

Under the current regulation, overseas Vietnamese who have been staying in Vietnam for at least six months are allowed to own just one residence in the country.-

Overseas trade counselors work for increased exports

In Uncategorized on August 27, 2008 at 4:26 pm

Tokyo (VNA) – Vietnamese trade counselors in the Asia-Pacific region are gathering in Tokyo to discuss ways to boost Vietnam ’s exports in the remaining months of the year and in 2009.

Chairing two-day meeting, opened on Aug. 27, the Deputy Minister of Trade and Industry Nguyen Thanh Bien asserted that the Asian-Pacific markets are important to the national development of Vietnam .

In the first seven months of the year, Vietnam ’s export-import value with the Asian-Pacific markets reached 59.8 billion USD, Bien reported.

He added that the figure represented a year-on-year increase of 55.6 percent and accounted for 66.9 percent of the country’s total two-way trade turnover with the global market.

In detail, Vietnam ’s export earnings from the Asia-Pacific region reached 19.5 billion USD in the reviewed period, a rise of 52.7 percent. The figure made up 52.3 percent of the nation’s total turnover.

According to the government official, the Asia-Pacific region continues being a leading importer of Vietnam ’s crude oil, coal, electric wire and cable, rubber, electronic products and components, and rice.

However, he pointed to the fact that imports from the region accounted for 77.2 percent of the country’s total import value as it soared 57 percent to 40.4 billion USD in this year’s first seven months.

Bien said in the remaining months of the years, trade counselors should focus on helping Vietnamese exporters to accelerate the export of products of high added value.

He urged trade counselors to increase trade promotion activities to seek export opportunities for their fellow businesses.

They also need to help reduce imports of consumer commodities from the region in order to keep the country’s trade deficit not to exceed 30 percent of the export value as set by the Ministry of Trade and Industry, Bien said.

Trade counselors also discussed how to speed up cooperation and investment in the industrial sector in the Asia-Pacific region.

On the sidelines of the event, Deputy Minister Bien and trade counselors met with officials from Japan ’s Ministry of Economy, Trade and Industry, the Ministry of Agriculture, Forestry and Fisheries, and several trade giants and associations.

Those meetings aim to prepare for activities to promote investment into supporting and heavy industries in Vietnam that is expected to take place late this year.

Vietnam has sent trade counselors to work in Japan , the Republic of Korea , China , Taiwan , Hong Kong, Laos , Cambodia , Thailand , Myanmar , Indonesia , Malaysia , the Philippines , Singapore , Australia and New Zealand .

Additionally, the country has placed four branch chiefs of its trade missions in Osaka ( Japan ), and Guangzhou , Nanning , and Kunming ( China ).-

130 overseas Vietnamese own apartments in HCM City

In Uncategorized on July 29, 2008 at 1:23 pm

– So far, as many as 130 overseas Vietnamese have bought houses in Ho Chi Minh City , according to the municipal Committee for Overseas Vietnamese.

Those include long-term investors, scientists or cultural experts who return home to work or have been allowed to live in the country for a long time.

To buy houses, buyers must show their Vietnamese-issued passports, together with papers proving that they are eligible subjects.

Buyers holding foreign passports must show certificates of Vietnamese nationality, certificates of loss of Vietnamese nationality or citizenship registration certificates.-