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Vietnam welcoming third investment flow from the U.S

In Uncategorized on December 21, 2010 at 9:30 am

Vietnam welcoming third investment flow from the U.S

QĐND – Monday, December 20, 2010, 21:48 (GMT+7)

“Vietnam is expecting to have the third investment flow from the U.S.A. in the forthcoming time”, said Mrs Jocelyn Tran, Chairwoman of AmCham Vietnam.

According to Ms Tran, American businesses have been successful in doing business in Vietnam. Two-way trade between Vietnam and the U.S rose to around US$18 billion in 2010 from almost US$1 billion in the 1995-2000 period. Several large American companies such as Nike, MAST Industries and Target have made considerable contributions to this trend by increasing the volume of imported goods from Vietnam.

“I am confident to say that in the next ten years, the two countries’ trade turnover will reach US$35 billion and Vietnam will become one of the most important trading partners of the U.S.A. in ASEAN”, Ms Tran added.

However, at present only few big US manufactures are investing in Vietnam?

The U.S. investment in Vietnam can be divided into three main stages. The first stage is from 1995 to 2000, mostly in consumer goods to explore Vietnam’s market. The second stage started from 2001 to 2005 after the two countries had signed the bilateral trade agreement. The investment mostly came from foreign companies that cooperated with the American partners to build factories to manufacture textiles and garments, footwear and wooden furniture for export to the U.S.

The third investment flow, starting from 2006, came from the modern manufacturing industry with the construction of Intel Group’s assembling factory in Vietnam at the cost of  USD1 billion

During the first months of this year, 25 of the biggest companies in the U.S.A. in the list of top 500 Fortune companies with total turnover of around US$675 billion, set up their business in Vietnam, focusing on services,  energy, chemical and auto manufacturing.

Vietnam at present can attract foreign investment in modern manufacturing industries, however it should have more open policies in energy, transportation, telecommunications, retail trade and education.

Source: TTO

Translated by Vu Hung

Source: QDND

Vietnam ranks third at Asian Aerobics Championships

In Uncategorized on December 19, 2010 at 9:27 pm

Vietnam ranks third at Asian Aerobics Championships

QĐND – Sunday, December 19, 2010, 22:38 (GMT+7)

Vietnam ranked third with two gold, three silver and six bronze medals at the second Asian Aerobics Championships that concluded in Ho Chi Minh City on December 17.

Vietnamese athletes secured two golds in women’s single and team events.
Meanwhile, Japan took the lead in the medal tally with four golds and two silvers. It was followed by China with three golds.

The championships drew 139 athletes from 11 nations and territories that competed in the men and women’s single and mixed events and team events in three age groups.

Source: VOV


Source: QDND

Real estate ranks third in FDI attraction

In Uncategorized on November 27, 2010 at 6:20 am

The real estate sector currently ranks third in attracting foreign direct investment (FDI) in Vietnam, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

The new urban area Phu My Hung in South Ho Chi Minh City has been invested by a Taiwan business. (Photo: Viet Dung)

By the end of the third quarter this year, foreign investors had disbursed a total of 8 billion USD to real estate projects in Vietnam, the Foreign Investment Agency reported at an international seminar on experiences in developing housing and real estate worldwide, along with options for Vietnam.

The seminar, held in Hanoi on Nov. 26, brought together 1,500 real estate developers and foreign investment funds from 15 countries and territories.

Construction Minister Nguyen Hong Quan said the real estate market is important as it makes direct impacts on the national economy’s growth and has close ties with financial, construction, building materials, and labour markets.

According to Deputy Minister of Construction Nguyen Tran Nam , by the end of 2009, foreign developers had invested in 500 real estate projects with a combined registered capital of over 40 billion USD.

In 2009 alone, FDI in real estate reached 2.5 billion USD, accounting for 21.8 percent of new FDI in Vietnam .

The same day, Vietnam ’s real estate market potentials were introduced to participants in an international real estate exhibition, which was held as part of the seminar.

Source: SGGP

HCMC conducts pilot English teaching program for first, third graders

In Uncategorized on November 22, 2010 at 10:03 am

Market closes down for third day

In Uncategorized on October 19, 2010 at 4:24 pm

Movements of VN-Index on October 19. (Photo: Vietnam’s benchmark VN-Index, a measure of 263 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange, sharply fell on October 19 as investors dumped shares to avert risk.

The index finished at 454.25 points, losing 0.73 percent, or 3.34 points.

Trading volume on the city bourse improved, surpassing 31 million shares for the first time since October 8 as investors increased buying at low prices. Around 33.5 million shares traded at VND884.7 billion.

Among the index members, 33 advanced, 191 dropped, and 44 remained unchanged.

Ocean Group Joint Stock Company (OGC) was the most active stock in volume with more than 1.63 million shares changing hands.

Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) came next with around 1.36 million shares traded at VND20,000, followed by Saigon Thuong Tin Commercial Bank or Sacombank (STB) with 1.21 million shares. The company’s shares lost 0.63 percent today.

Seafood Joint Stock Company No4 (TS4) which collapsed the daily maximum allowed limit of 5 percent to VND22,800 was the biggest loser on southern market.

Rangdong Light Source and Vacuum Flask Joint Stock Company (RAL) gave up 4.98 percent to trade at VND21,000.

From October 19 to December 19, Ngo Ngoc Thanh, chairman of Rangdong Light Source and Vacuum Flask Joint Stock Company (RAL), registered to buy 7,000 shares, raising his holdings to 37,739 shares, to increase ownership ratio.

Phuong Nam Cultural Joint Stock Corporation (PNC) subtracted 4.95 percent to settle at VND9,600.

The list of winners included DESCON Construction Corporation (DCC), Transforwarding Warehousing Joint Stock Corporation (TMS), and Lilama 10 Joint Stock Company (L10).

On this trading session, Saigon Machinco (SMA) listed 8.06 million shares for the first time on the city bourse. The company finished at VND15,000 per share with a total trading volume of 3,210 shares.

The Hanoi’s HNX-Index declined 2.33 points, or 1.96 percent, to close at 116.56 points. Trading volume increased by 60 percent over the previous trading session as around 27.8 million shares changed hands at a value VND587.5 billion.

The UPCoM-Index slid 0.28 points to 42.99 points as of 11:15 am local time. A total of 0.33 million shares were traded at VND4.87 billion.

Source: SGGP

Third private carrier flies Vietnam’s skies

In Uncategorized on October 13, 2010 at 3:59 am

Third private carrier flies Vietnam’s skies

QĐND – Monday, October 11, 2010, 21:42 (GMT+7)

Vietnam’s third private airline, Air Mekong, received its Air Operator’s Certificate from the Civil Aviation Administration of Vietnam (CAAV) in Kien Giang province in the south on October 8.

The carrier also launched its first two routes, Hanoi – Phu Quoc and Ho Chi Minh City – Phu Quoc on the same day. 

“The CAAV certificate will open a new page for our development”, said Air Mekong chairman Doan Quoc Viet. 

He said Air Mekong started commercial operations on October 9 with eight flights from Ha Noi and HCM City to Phu Quoc, Con Dao, Buon Me Thuot and Pleiku, adding that Air Mekong will expand operations in November, including flights to Da Lat in the Central Highlands and Da Nang city. 

The airline has launched a promotional offer with 1,000 tickets on sale until November 9 at prices from VND400,000 to VND1.2 million on all its domestic routes. Tickets are on sale at travel agents as well as Air Mekong’s website and customer care centres. 

Air Mekong was established in 2009 by the Ha Long Investment and Development Company based at Phu Quoc Airport. The other two private carriers already operating in Vietnam are Indochina Airlines and VietJet AirAsia. 

The CAAV said there are also a number of other organisations and individuals planning to launch airlines. To qualify, private operators must have a charter capital of at least VND500 billion to fly internationally and VND200 billion to launch domestic flights. They must also meet strict aviation and security standards.

Source: VNA


Source: QDND

Colombia arrests third suspect in car bomb attack

In Uncategorized on August 18, 2010 at 7:26 am

BOGOTA, Aug 18, 2010 (AFP) – Colombian investigators have arrested a man suspected of involvement in an August 12 car bomb attack north of Bogota, outside a Spanish radio station, the prosecutor’s office here said.

The suspect, identified as Edison Moreno, is accused of helping prepare the vehicle that was used in the attack, officials said.

He was arrested south of Bogota, after being identified by other suspects in the case who have always admitted forging license plates for the stolen car used in the attack.

Investigators have not yet named those they suspect of masterminding the attack, which injured eight and did extensive damage to the nearby buildings, including a building housing the offices of Radio Caraco, a subsidiary of Spain’s Grupo Prisa.

The attack came shortly after the inauguration of President Juan Manuel Santos, who dealt severe blows to the country’s leftist guerrillas during a stint as defense minister.

“We are not going to be frightened, to be intimidated. We are not going to fall into this trap,” he pledged after the attack.

Colombia has been beset for years by violence involving leftist guerrillas, right-wing paramilitary death squads, and powerful drug cartels.

The last major attack in Colombia occurred March 24 when a car bomb exploded near the mayor’s office in the Pacific port of Buenaventura, killing nine people.

Then-president Alvaro Uribe blamed the Revolutionary Armed Forces of Colombia (FARC).

Source: SGGP

VN’s third private air carrier set for take-off

In Uncategorized on August 17, 2010 at 3:23 pm

VN’s third private air carrier set for take-off

QĐND – Tuesday, August 17, 2010, 22:4 (GMT+7)

Air Mekong, Vietnam’s third private air carrier, is scheduled to launch its first flights on October 10.

“The Civil Aviation Administration of Vietnam (CAAV) will finish its checks and appraisal to enable Air Mekong’s operation next month,” the company stated in a press release.

“Air Mekong is scheduled to begin selling tickets from mid-September and to launch its first flights on October 10 of this year,” the company said.

The airline is scheduled to fly from Hanoi and HCMCity to Da Nang , Nha Trang, Da Lat and Phu Quoc. In addition, it has also asked permission to fly from HCM City to Con Dao, Buon Me Thuot, Hai Phong and Vinh.

On August 15, the airline received delivery of four made-in-Canada Bombardier CRJ 900 aircraft owned by Skywest Leasing Inc of the US. Each aircraft has 95 business and economy-class seats.

Air Mekong was established in 2009 by Ha Long Investment and Development Company. It will be headquartered at PhuQuocAirport. The other two private carriers in Vietnam are Indochina Airlines and VietJet AirAsia.

The CAAV said there were a number of organisations and individuals planning to launch airlines. To qualify, private operators must have a charter capital of at least 500 billion VND (26.3 million USD) to fly internationally and 200 billion VND (10.5 million USD) to launch domestic flights. Airlines must also meet strict aviation and security standards.

Source: VNA

Source: QDND

Students must study English from third grade on

In Uncategorized on August 2, 2010 at 7:18 am

The Ministry of Education and Training has recently drafted a new proposal that would include teaching English at the primary school level, as part of the Strategy for Education Development for 2008-2020, which aims to build a modern educational system.

Pupils of Phan Dinh Phung Primary School study English in their class (Photo: SGGP)

According to the draft, primary school students would have to learn English starting in third grade and completing a total of 1,155 hours by the end of primary school.

According to the draft, after completing the program, students will be tell short stories in English, write five-sentence paragraphs, read and comprehend short English lessons and conduct brief conversations in English.

Students graduating from primary school will possess English capabilities equivalent to the Level 1 English proficiency as determined by the European Association for Language Testing and Assessment (EALTA).

Source: SGGP

Toyota to build third plant in Brazil

In Uncategorized on July 16, 2010 at 4:47 pm

TOKYO, July 16, 2010 (AFP) – Toyota will build a new 600-million-dollar auto plant in Brazil that is set to initially churn out 70,000 vehicles a year and employ 1,500 workers, the world’s biggest car maker said Friday.

The factory in Sorocaba, 100 kilometres (60 miles) west of Sao Paulo, will be the Japanese auto giant’s third in the South American country, where it opened its first overseas plant in 1962.

Construction will start in September on land the company bought two years ago and production of a newly developed compact car, both for the domestic market and export, is set to begin in the second half of 2012.

Toyota do Brasil Ltda. already produces auto parts at its Sao Bernardo plant with 1,200 workers and the Corolla model at its 2,000-staff Indaiatuba plant, which are both also located in Sao Paulo state.

The company said in a statement that it “intends to expand local production in line with market growth in Brazil and other emerging markets”.

Source: SGGP