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BUSINESS IN BRIEF 7/12
American
investors put US$248 million into 38 projects in
That
helped the
The
latest addition has helped the American registered investment capital in
During
the reviewed period, it said that the hospitality, catering and restaurant
sector attracted US$4.67 billion, or equivalent to 42.8% of the total
American investment capital in
American
investors have invested in 41 out of 63 cities and provinces nationwide.
Among these localities, the southern Ba Ria -Vung Tau province was the most
attractive investment destination for American businesses as they had 18
projects, worth US$5.3 billion, there. The northern port city of
Over
20 countries attend int’l food festival in HCM City
More
than 60 restaurants and hotels from over 20 countries and territories are
showcasing their special dishes at an international food festival which
opened in
During
the festival, the ninth of its kind, visitors can understand more about the
culinary culture of many countries around the world with their plentiful and
unique dishes displayed in nearly 100 booths.
The
event also features a wide range of attractive activities such as Thai muay
performances and programmes to launch new records on traditional Vietnamese
pastry and sculptural works on world cultural heritages in
I n
addition, visitors have a chance to enjoy over 60 kinds of pastry made by 100
renowned cooks right at the festival.
Addressing
the opening ceremony, Vice Chairwoman of the municipal People’s Committee
Nguyen Thi Hong said that the event is expected to preserve and promote the
culinary culture of
It will
run until December 7.
Vinmec
and Sodexo cooperate to improve nutrition for patients
Sodexo
will provide Vinmec with Healthcare Food & Nutrition services that meet
the Joint Commission International (JCI) and world-class HSE standards. These
services include in-patient dining, VIP and presidential patient dining,
staff dining, tube feeding service to service patients that cannot be fed by
mouth and out-patient snacks service.
“Partnering
with Sodexo – a world leader in food services, is an important progress in
asserting the service quality at Vinmec, starting from caring about and
standardising nutrition need of each single patient,” said Prof. Dr. Nguyen
Thanh Liem, CEO of Vinmec International Hospital.
Vinmec
is located in
Founded in
1966, Sodexo now operates in 80 countries, has 428,000 employees throughout
the world and serves 75 million consumers each day. It earned €18.4 billion
in consolidated revenue in its fiscal year 2013 and is valued at €12.4
billion as of July 8, 2014.
BioSpring
Hoa Lac seeks suppliers of fermentation equipment
BioSpring
Hoa Lac JSC is looking for suppliers that can provide specific components or
a turn-key set of equipment for the probiotics production lines in its new
1,000 tonnes per year fermentation factory in
The
needed components include spore fermentation system 1000L, filter system,
spore cleaning, heat system, collecting spore product; air compressed system,
air filter system for fermentation, boiler and chiller for fermentation and
autoclave system 1 or 2 doors. Suppliers who can provide a turn-key set are
preferred.
Overseas
suppliers that have experience in supplying and installing such equipment are
invited to submit their company profile, a list of clients in the
fermentation/probiotics field and a catalogue with specifications of relevant
equipment.
Interested
suppliers can contact Biospring by December 15, 2014 at ELCOM building, Duy
Tan street, Dich Vong Hau ward, Cau Giay district, Hanoi, Vietnam, by
telephone number +84 4 38 359 359 or by email at duc.nguyen@biospring.com.vn.
Alternatively,
they can contact the Vietnam Business Challenge Fund (VBCF) at Office 103,
Building B1, Van Phuc Diplomatic Compound, 298 Kim Ma Street, Hanoi, Vietnam,
by telephone number +84 4 37 265214 or by email at avutuan@vbcf.org.vn.
BioSpring
Hoa Lac produces natural probiotics. Its project to expand the use of
probiotics in husbandry and aquaculture is one of the 20 projects funded by
the Vietnam Business Challenge Fund (VBCF). It is the first company in
The
The
factory, capitalised at $15 million, will manufacture air-conditioners for
the domestic automotive industry. Gentherm
Spanning
some 20,000 square metres, the facility will consist of a production floor,
clean room and related offices and utilities. Gentherm
The
project is expected to make a significant contribution to the Vietnamese
government’s efforts to boost the development of the country’s auto industry.
Vu Dai
Thang, Deputy Chairman of the Ha Nam Provincial People’s Committee said
Gentherm would be successful in
Policy
makers seek to develop social housing construction
Deputy
Minister of Construction Nguyen Tran
The law
will help the housing market in
Akihiro
Gozawa, an official from the Japanese Ministry, shared that the housing
policy in
He
introduced participants to the Japan Housing Finance Agency (JHFA), which was
established in 2007 in charge of supporting private financial institutions
via the issuance of government bonds and offering loans for post-disaster
housing rehabilitation.
The
agency will provide long-term and low-interest loans for house buyers or
constructors. Meanwhile, the public houses for lease will be provided by the
central and local governments at prices lower than that of the market, he
said.
During
the workshop, participants discussed experience on how to mobilise middle and
long term capital to help low-income people and social welfare recipients in
urban areas buy their own houses.
They
also exchanged views with Japanese experts in service of the building of
documents guiding the early enforcement of the Vietnamese amended law on
housing and real estate business.
Japanese
bank helps facilitate investment in Vietnam
A
memorandum of understanding to this effect was signed by MSBC and the
Ministry of Planning and Investment’s Foreign Investment Agency (FIA) in
The
tie-up allows MSBC and FIA to improve investment performance and facilitation
in
According
to General Director of MSBC branch in Hanoi Noriyuki Watanabe, in recent
years, Japanese manufacturers and processors have considered Vietnam a focus
of their “China+1” strategy in which they seek to diversify commercial
reaches and reduce overreliance on China.
Besides,
Japanese retail companies are also seeing great opportunities in the country
which has the third largest population in ASEAN.
As of
October 20, 2014,
Currently,
around 1,000 Japanese firms operating in
Vietnamese
banks, IT gurus get awards
On December
2 the Vietnam Outstanding Banking Awards and CSO/CIO Awards selected four
outstanding banks and three commendable IT professionals in the banking
sector.
Asia
Commercial Bank (ACB) was named Outstanding Retail Bank of the year for its
customer service quality, particularly in the area of personal financial
management.
The Bank
for Investment and Development of Vietnam (BIDV) grabbed the title
Outstanding Digital Bank for its 2.5 million digital banking customers. BIDV
currently boasts 12,000 corporate customers and four million monthly
transactions.
Vietnam
International Bank (VIB) was honoured as the bank with the best branches.
“The business and service model at VIB’s
Lastly,
the Bank with Outstanding Products and Services award went to Vietinbank for
its innovative mobile point of sale (MPOS) service. MPOS allows the bank’s
customers to use their smartphones or tablets to complete transactions
anytime, anywhere, with their domestic or international credit cards.
The
Vietnam Outstanding Banking Awards have been organised annually by
International Data Group since 2011. This year the panel of judges,
consisting of 14 representatives from the state and banking sectors, started
the voting process in September.
At the
same time, three IT professionals in banking were honoured by the ASEAN
CIO/CSO Awards 2014. The first was Tran Nhat Minh, vice president of VIB for
his contribution to the bank’s e-banking system, virtual Facebook branch and
disaster repair systems.
Head of
the IT Department at PG Bank, Hoang Long, also got an award thanks to his
20-years improving information management at different banks. The last
recipient was Alan V. Bornas from Landbank in the
The
CIO/CSO Awards is an event that celebrates technological breakthroughs in
various sectors across
Vinacomin
sets new record in pit excavation
Nui Beo
Coal JSC under the Vietnam National Coal and Mineral Industries Holding
Corporation Limited (Vinacomin) has set a new record in pit depth after it
completed the excavation of a pit of 371.6m under the sea level.
The
company’s underground mining project started in March 2012 with a total
investment of 5.3 trillion VND (245 million USD).
It is
expected to go into operation in 2019 and reach its annual designed capacity
of 2 million tonnes two years later.
Under
its development plan until 2020 with a vision to 2030, Vinacomin aims to
produce 64.6 million tonnes by 2015, 71.9 million tonnes by 2020, and 87
million tonnes by 2030.
To
achieve the goal, the corporation has put into use a series of high
technologies and modern equipment to increase coal mining and processing
efficiency while minimising the adverse impact on the environment.-
Housing
for residents of
Delegates
from the Vietnam Ministry of Construction introduced the new contents of the
amended Housing and Real Estate Business Laws which have been adopted at the
eighth session of the 13th National Assembly.
Japanese
experts highlighted amendments to these laws and while underlined the
necessity to clarify regulations on foreigner house ownership in
They
also shared experiences in building houses for rent at for low-income earners
by mobilising capital resources from public financial organisations.
At
present,
Construction
projects should be publicized in a transparent manner to ensure they can
improve people’s living conditions.
Phu
Yen licenses luxurious tourism project
The
People’s Committee of central Phu Yen province on December 3 granted an
investment certificate to build an US$80 million tourism complex to Sunrise
Vietnam Co. Ltd. from the
The
complex, to be built on 52 ha of land and 56 ha of water surface in Tuy An
district and
The
construction will be carried out in three phases, and the first part is
scheduled to be put into operation in 2017.
Tran
Quang Nhat, Vice Chairman of the municipal People’s Committee, said he hopes
the project will help boost the tourism industry in the province.
Measures
to prop-up real estate market
Leading
economists say it is essential to have a separate financial system that is
not run by State-owned banks to insure lending is based on merit, reduce the
risk of a banking liquidity crisis and to better manage the country’s foreign
exchange position.
Deputy
Minister of Construction Nguyen Tran
Deputy
Minister Nam says many countries have their own separate financial system for
the real estate sector to best accommodate long-term investment in real
estate projects adding that, there is not such channel in
This
creates a high risk of a national liquidity crisis as insufficient funds are
available for long term real estate projects when bank deposits are invested
by customers primarily for the short term.
Most
Vietnamese businesses are of small and medium sizes, with total charter
capital of less than VND1,000 billion, which is not sufficient to get
involved in a high-rise building (estimated to cost at least VND1,500 billion),
Obviously,
he says, many real estate businesses find it difficult to access credit
loans. Moreover, these loans have experienced strong fluctuations, standing
at around 30% 10 years ago, climbing to 57% in 2008, and declining to 10% in
recent years.
There’s
growing concern about the Government’s VND30,000-billion aid package, aimed
at stimulating the local real estate sector. In 2013 and 2014, credit growth
in this sector doubled the nation’s average rate,
He also
voices his concern over bad debts, which have been purchased by the Vietnam
Assets Management Company (VAMC). Outstanding debts in the real estate market
are estimated at below 10% of
80%
investment in real estate projects come from banks
In a
recent research, Prof. Dr. Pham Quang Trung and his associates from the
As a
consequence they are highly dependent on bank loans (up to 80%), although
banks are unable to ensure an adequate and stable supply of medium and
long-term loans.
Trung
points out a number of obstacles that the real estate sector investors face,
such as complicated procedures to borrow bank loans and high interest rates.
To more
effectively manage and develop the capital market for the real estate sector,
it is necessary to increase capital sources for owners of real estate projects
while completing risk management mechanisms for the financial markets.
Trung
and his associates propose diversifying financial products for the real
estate sector and setting up a separate real estate financial system in order
to ensure long-term liquidity for the real estate market.
Ancillary
funds can be established, such as life insurance and pension funds, which
would also provide long term funding for real estate projects.
Dr. Tran
Kim Chung, deputy head of the Central Institute for Economic Management
(CIEM), shares Trung’s view, affirming that solutions should be implemented
to create long-term investment financial inflows to support the local real
estate market.
Among
these solutions are – mobilizing overseas remittance sources, issuing policy
on secondary mortgage system, establishing home savings banks and
setting up real estate trust fund.
He also
suggests boosting disbursement of the Government’s VND30,000-billion aid
package, measures to ensuring market transparency and stabilizing bank interest
rate at 5-6%/year.
Seafood
export enjoys trade surplus of 5 billion USD
Seafood
export contributed 5 billion USD to a trade surplus of 8.2 billion USD run by
the agriculture sector in the first 11 months of 2014.
During
the period, seafood brought home 7.2 billion USD and is to earn 7.8 billion
USD by the end of the year, Deputy Minister of Agriculture and Rural
Development Vu Van Tam reported at the first meeting of the aquatic disease
prevention and control steering committee in Hanoi on December 4.
He was
optimistic that the maintenance of the trend would make the export target of
8 billion USD set for 2015, which was stated in the sector’s strategy by
2020, reachable.
To ease
farmers’ and exporters’ worries about common parasites and diseases that could
affect aquatic animal health and export, the aquatic disease prevention and
control steering committee was set up and started operation.
The
committee will work with localities on the supply of breeds and the planning
work in order to go in line with market demands.
VietJet
Air spreads wings over India
A
VietJet Air flight safely touched down in
The
inaugural flight carried monks and nuns from
To serve
the demands of Vietnamese, Thai and Asian monks and Buddhists to travel to
Khanh
Hoa province targets 4 million tourists in 2015
The central
coastal
This
year, Khanh Hoa set a target of receiving 3.4 million visitors, including
840,000 foreign tourists, and earning VND5 trillion (US$238 million) in
revenue.
By the
end of November, the province already served over 3.3 million holiday makers,
up 22% against the same period last year.
Local
authorities have sketched out schemes to improve tourism services, diversify
tourism products, and accelerate the implementation of key projects,
particularly those in the north of Cam Ranh peninsula and Nha Trang resort
city and the conversion of the Nha Trang sea port into a specialised tourism
port.
The
province will enhance cooperation with domestic and foreign provinces and
cities and speed up the construction of the second runway at
Khanh
Hoa is well-known for its beautiful beaches and many relic sites,
particularly the
EVN’s
11-month power production hit nearly 133 bln kWh
The
Electricity of Vietnam (EVN) group generated a total of 132.8 billion kWh of
electricity in the last 11 months, up by nearly 11 percent compared to the
same period last year, ensuring sufficient supply for production and
consumption needs.
In the
reviewed period, the group’s total commercial electricity output hit 117,636
billion kWh, a year-on-year increase of 11.3 percent.
EVN also
saved an estimated volume of 2.6 billion kWh, equivalent to 2.23 percent of
the commercial power output.
The
group said it strives to generate 405 million kWh per day in December.
To
ensure sufficient power supply for the entire country this month as well as
during the dry season of 2015, EVN will optimise hydropower and coal-fired
power plants’ capacity by storing water in reservoirs.
This
month, the group will begin the expansion of the Duyen Hai 3 power plant and
the construction of infrastructure system of the Ninh Thuan nuclear power
project, among other works.
It has
also planned to accelerate progress on several projects, including Van
Tri-Chem, Thuong Tin-Kim Dong and Song May-Uyen Hung 220kV transmission
lines, and Kim Dong and Uyen Hung transformers, while completing procedures
for the kick-off of Pleiku 2 500 kV and Hai Ha 220kV transformers.
Japan
bank signs MoU with FIA
MSBC and
the Ministry of Planning and Investment's Foreign Investment Agency (FIA)
signed a memorandum of understanding to this effect in Ha Noi yesterday.
The
tie-up allows MSBC and FIA to improve investment performance and facilitation
in
In
recent years, Japanese manufacturers and processors have considered Viet Nam a
focus of their "China+1" strategy, in which they seek to reduce
over-reliance on China, according to general director of MSBC's Ha Noi branch
Noriyuki Watanabe.
Japanese
retail companies also see great opportunities in the country, which has the
third-largest population in ASEAN. As of October 20,
Around
1,000 Japanese firms operating in
Appeal
evaporates for oil, gas stocks
Oil and
gas stocks have lost their shine given steep falls in global oil prices in
November.
These
stocks dropped nearly 20 per cent in value last month while the benchmark
VN-Index declined less than 6 per cent and the HNX-Index fell just 0.7 per
cent, according to a Viet Dragon Securities Corporation (VDSC) report.
Analysts
reckoned that selling pressure for these stocks would increase following the
Organization of Petroleum Exporting Countries (OPEC)'s decision to maintain
oil production despite declining prices.
After
OPEC's decision, the oil price retreated below the psychological level of $70
per barrel. In November, oil prices plunged around 18 per cent, according to
Bloomberg.
The
value of PV Gas (GAS), the biggest stock in term of market value, also
plummeted from VND 106,000 (US$4.98) to VND86,000 ($4.04). In just one month,
GAS's market capitalisation evaporated nearly VND38 trillion to VND163
trillion ($7.7 billion).
Market
value of PetroVietnam Drilling and Wells Service Corporation (PVD) also
decreased VND5.6 trillion ($263 million) and that of PetroVietnam Technical
Services Corporation (PVS) fell VND3.4 trillion ($159.6 million) as of
November 30.
"Very
few investors could imagine this scenario, as oil and gas stocks were
considered the investment trend of 2014," analysts at VDSC said.
Foreign
investors also opted to sell off these stocks, selling VND281 billion ($13.2
million) worth of PVD shares in seven consecutive sessions. GAS stocks were
sold for 10 days in a row with a total value of VND200 billion ($9.4
million).
The
price of oil and gas stocks improved early this month. However, in the short
and medium term, these stocks are no longer attractive given the sharp
declines in oil prices, according to Phan Dung Khanh, head of analysis for
KimEng Securities Co.
Investment
is shifting to businesses that are benefiting from low oil prices such as
transport, shipping, steel and plastic, Khanh said.
Discounts
of 10-50 per cent, gifts, and lucky draws are part of HCM City's year-end
Grand Sales that kicked off yesterday with more than 500 travel agents,
hotels, restaurants, retailers, and traditional markets are taking part.
Travel
services, entertainment, cosmetics, beauty-care products, handicrafts,
souvenirs, clothes, and food and foodstuff are all sold at discounts. More
than 1,000 stalls selling many of these products and services have been set
up at September 23 Park in District 1.
The
annual event, organised by the Departments of Tourism and Industry and Trade
to attract tourists and stimulate tourism, will run through the month.
Medical
expo held in capital
The 21st
Vietnam International Medical, Hospital & Pharmaceutical Exhibition took
place at the Hanoi International Exhibition Centre fromWednesday.
The
three-day exhibition displayed the latest medical and laboratory products and
services as well as healthcare, beauty, ophthalmologic and dental products of
more than 115 companies from 16 countries and territories.
The expo
offers enterprises a platform to introduce their products and services as
well as exchange experiences, seek counterparts and sign contracts.
VFM
opens second mill in Quang Ninh
Vietnam
Flour Mills Ltd (VFM) inaugurated a US$47-million mill in the Cai Lan
Industrial Zone in the
VFM,
which is a subsidiary of FFM Berhad,
VFM's
new mill, spanning 3,400sq.m in the IZ, can mill 500 tonnes of flour per day.
It will also create more than 150 jobs and will contribute about VND200
billion (US$9.4 million) to the
Lotus
Impact, KOTO plan JV
Lotus
Impact, an impact investment firm focused on Southeast Asia, announced
yesterday that its first investment in
Impact
investments are made in companies, organisations or funds with the intention
to generate social and environmental impact along with financial returns.
The
catering joint venture will produce high-quality international and Vietnamese
food options for businesses and other organisations, with facilities in
Plastics,
rubber industry imports 80 percent materials
Vietnam
has to import 80 percent of materials in plastics and rubber industry,
reported the Vietnam Plastics Association and Ho Chi Minh City Department of
Industry and Trade at a seminar on Thursday.
Most businesses
operating in this field are of medium and small scale with inconsiderable
export value accounting for only 1.2-1.5 percent of the total export
turnover.
Most of
the industry’s businesses use secondhand equipment and outdated technologies.
They have faced with capital shortage and difficulties in credit access to
renovate technologies and improve product quality amidst high cost prices.
Credit
structure continues to shift towards sectors of Government's priorities such
as small and medium sized enterprises, agriculture and rural development
among others.
This
year, the SBV kept the credit growth target for the whole year at 12% - 14%.
According
to the SBV, the total means of payment and deposit mobilisation in 11 months,
both advanced over 13% against the end of 2013, of which deposits in
Vietnamese dong (VND) was up 14.74% despite the lowered lending interest
rates.
The
central bank continues to ask commercial banks to reduce lending rates
including old loans to less than 13% per year. To date, the interest rates
for deposits and loans in VND have been slashed by 1.5% - 2% per year
compared to the end of 2013, contributing to removing difficulties for
production and business activities while ensuring the goals of curbing
inflation and stabilising the monetary market.
The
central bank will continue to closely monitor the market to assure the
stability of the monetary market, interest rates and foreign exchange rates,
and will sell foreign currency to intervene the market if necessary.
Preferential
import tariffs imposed on petrol
The
Ministry of Finance (MOF) on December 4 issued a document, sent to the
Customs Departments and businesses trading on petroleum, on preferential
import tariffs imposed on goods.
The
document stipulates that if Platts price of WTI crude oil is below US$60 per
barrel, the maximum preferential rate for all petroleum products is 40%. If
the price is between US$60 and US$75 per barrel, the maximum rate for
gasoline and oil is 35% and that for diesel and mazut is 30%.
The
maximum rate is 25% for gasoline and oil, and 20% for diesel and mazut if the
price is between US$75 and US$95 per barrel. The rate is from 15-20% if the
Platts price is over US$95 per barrel.
The
document stated that the Platts price of WTI crude oil is the price announced
by Platts in
According
to an MOF representative, the preferential import taxes lay a foundation for
the ministry to give specific directions on applying preferential taxes on
petroleum while helping businesses trading in petroleum devise their business
plans.
Earlier,
the world oil price fell sharply from US$105 per barrel at the end of July,
to US$68.53 per barrel at the end of November, the lowest price in the past
five years.
FDI
major driver for growth
There
have been early signs of economic recovery in Vietnam with this year’s
economic growth expected to rise to 5.6% from 5.4% last year, with the
foreign direct investment (FDI) sector playing a major role, says the World
Bank’s (WB) Taking Stock report.
According
to the report, the FDI sector helps promote economic growth momentum while
domestic enterprises are still mired in difficulties.
This
positive outlook is mainly underpinned by ongoing macroeconomic stability and
continued strong performance of the foreign-invested manufacturing export
sector.
Positive
macroeconomic developments contributed to the country’s improved sovereign
risk ratings, helping the Government successfully issue bonds in
international capital markets and raise US$1 billion on favorable terms.
Sandeep
Mahajan, lead economist at the WB in
According
to Mahajan, leaders of foreign-invested manufacturing firms appeared to be
optimistic about the future when interviewed and they mentioned their
expansion plans. The findings before September of last year did not indicate
such optimistic signs.
Eurocham
also had similar findings.
However,
Mahajan gave a warning about the operation efficiency of domestic, private
enterprises. The number of business closures, bankruptcies and suspensions is
high while the number of new business start-ups is in decline, he added.
According
to the global lender, there were up to 60,300 enterprises dissolved in the
January-November period while the respective figures of 2013 and 2012 were
60,700 and 54,300.
Mahajan
said it would be better if
Vietnam’s
potential for more growth can only be realized if substantial progress is
made in addressing distortions such as in the state enterprise and banking
sectors, says Victoria Kwakwa, WB Country Director for Vietnam.
“Stepping
up this reform agenda and strengthening the business environment are critical
for moving forward,” she continued.
The WB
report also points out the remaining dichotomy in performances of domestic
and foreign-invested firms. The foreign-invested sector continues to be a
significant source of growth while domestic enterprises continue struggling
with a rising number of closing or suspending enterprises.
The
medium-term outlook of
Travel
enterprises, industry associations and events organizers in
At a
function to introduce business opportunities and a special program designed
for the
Nguyen
Ba Vinh, chief representative of TCEB in HCMC, said financial bonuses for
such Vietnamese firms will be based on the whole-year number of visitors
joining international exhibitions in
Vietnamese
enterprises will be able to receive an extra 5% of the financial aid from
this supporting program, equivalent to US$500, for every 100 visitors they
send to
The
financial support will be revised up to 10% and 15%, or US$2,500-4,490 and
US$6,750, when the respective numbers of visitors are 250-449 and over 450.
Currently,
TCEB pays Vietnamese companies US$100 a visitor if they organize trips for 10
people to
Speaking
on the sidelines of the event, Vinh said visitors to exhibitions in
French
companies eye bauxite industry
A
memorandum of understanding (MoU) on cooperation in bauxite mining projects
was signed on Tuesday between a Vietnamese firm and some French corporations,
said Frederic Sanchez of the French business confederation MEDEF
International.
The
chairman of the Vietnamese-French union of employers under MEDEF International
told the Daily that a Vietnamese company in the bauxite mining industry
wanted French companies’ involvement, but he declined to reveal any names of
the parties concerned.
“One
Vietnamese enterprise needs the collaboration of Western businesses to become
a leading aluminum processor. The MoU defines the aluminum processing
technology, the possibility to buy bauxite and the capability of providing
electricity for aluminum production. It also states that French corporations
will purchase alumina products from the Vietnam Coal and Mineral Industries
Holding Corporation (Vinacomin) to produce aluminum,” said Sanchez.
He added
more than 10 enterprises in
“The MoU
has not been completed because we are still looking for other financial
covenants. The Vietnamese side wants to produce aluminum to supply airplane
or auto producers, creating more value-added products,” according to Sanchez.
A
delegation of 20 large and small businesses in various industries such as
Alcatel, Alstom, BNP Parisbas, GDF Suez, SNCF and other firms operating in cutting-edge
technology sectors is visiting
The trip
is expected to help French companies who are interested in the local market
meet and contact with potential partners, as well as consider the possibility
of setting up manufacturing plants here.
Bauxite
set besides tourism in Central Highlands’ vision
The
development vision to 2030 for the Central Highlands mapped out by the
Ministry of Construction chooses bauxite mining and hydropower alongside
coffee production and tourism as “spearhead industries” for the region.
The
ministry on Tuesday announced the master plan and transferred it to the five
provinces in the Central Highlands for implementation. The localities there
are Daklak, Daknong, Gia Lai, Kon Tum and Lam Dong, most of which are
well-known as favorite destinations for tourists.
The
Central Highlands, covering 54,600 square kilometers, or one-sixth of the
national total natural area, will be divided into three sub-regions of north,
central and south zones associated with urban corridors, according to the
master plan.
The
north zone encompassing Gia Lai and Kon Tum will be home to numerous
hydropower projects alongside eco-tourism facilities, especially those in
national parks and nature reserves.
The
central zone covering the entire
The
south zone straddling Daknong and Lam Dong provinces will develop bauxite,
tourism and hi-tech agriculture projects, according to the vision.
Under
the plan, each zone will be associated with a core urban center.
As
envisaged in the plan, the whole Central Highlands will have 117 urban areas
by 2030. There will be ten border gates in the whole region, 24 industrial
zones, and 74 industrial clusters.
By 2030,
the region’s population is projected at nearly 7.4 million, with nearly 3.1
million living in urban areas.
S.Korea
tourism rewards local travel firms
The
Korean Tourism Organization (KTO) will celebrate the Korean Night in Danang,
HCMC and
The
program will respectively take place at the foresaid locations on December 5,
10 and 12.
At the
event in
These
promotional activities aim at maintaining the strong growth of Vietnamese
visitor arrivals in
The
number of flights between
Of the
total figure, the number of Vietnamese tourists coming to
It will
take these tourists only three days to apply for visa with a fee of US$15 per
person instead of US$20 and seven days like before. They will be free from
customs declarations if their visa applications are processed through 14
travel agencies designated by the consulate, and all members are on board on
the same flights.
Gov’t
okays second phase of hospital JV
The
Government has given approval in principle to HCMC authorities to develop the
second phase of
According
to the plan, the city government is responsible for choosing enterprises to
invest into Saigon Medical Investment Co. (MECO) as the project owner to
implement the next phase.
The
Ministry of Health will collaborate with the municipal government in asking
Cho Ray and other hospitals in the city to support
As
planned, the hospital will have 300 more beds in the second phase, taking the
total to 500 beds. This phase costing US$10 million is expected to kick off
by the end of next year for completion in 2018.
Previously,
the first phase of the hospital with an investment of nearly US$38 million
was opened early this year with a capacity of 200 beds in Meanchey District,
around 10 kilometers from Phnom Penh.
During
the ten-month operation, as many as 60,000 patients have received medical
checkups and treatments at the new general hospital.
|
Thứ Bảy, 6 tháng 12, 2014
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