Viet Nam News

Da Lat flower festival 2009 rescheduled

2009-07-21T21:02:00.000-07:00

VietNamNet Bridge – The government of the Central Highlands province of Lam Dong has stated it will change the time for the third Da Lat Flower Festival from mid December 2009 to January 2010.

According to the chief of the Lam Dong People’s Committee Office, Vo Ngoc Hiep, the event is being postponed until January 1-4 2001 to become a cultural activity to celebrate the 1000^th Thang Long – Hanoi anniversary.

The number of days for the third festival will be shortened from five to four days, with a total cost of 15 billion dong, including 5 billion dong from the state budget.

The Da Lat Flower Festival 2010 will have the theme “Da Lat – City of Flowers”. The event will include the following activities: the launching of a flower planting campaign, building a road of flowers, a tower of flowers, an island of flowers, a flower fair, an ancient street of flowers, flower and ornamental tree exhibition, a wine festival night, an international mountaineering contest, a cycling contest, a flower-arranging contest, a seminar on flowers and a stage show entitled “Da Lat flowers, the colours of cold land”.

This will be the third festival of its kind. The first festival was organised in 2005.

VietNamNet/Tuoi Tre

World heritages in Vietnam need closer cooperation

2009-07-21T21:01:00.002-07:00

VietNamNet Bridge – Vietnam has seven natural and cultural world heritages recognised by UNESCO. Preservation and improvement of these heritages is necessary to advertise Vietnam’s image to the world. However, local governments haven’t effectively cooperated to connect these heritages.

The Hoi An ancient town.

The seven world heritages in Vietnam are Hue ancient capital, Ha Long Bay, Hoi An ancient town, My Son sanctuary, Phong Nha – Ke Bang cave, Hue royal court music and Central Highlands gongs.

The ancient capital of Hue was recognised as the first world cultural heritage of Vietnam 15 years ago. After recognition, all world heritage sites have developed well, said Dr. Dang Van Bai, vice chairman of the Vietnam Cultural Heritage Association.

“Firstly, the central and local governments pay more attention to preserving heritages,” Bai analysed. “Secondly, thanks to the recognition, these sites have become attractive destinations, bringing in large quantities of income, which have been re-invested in preserving the values of heritages. The Prime Minister has also approved plans to preserve the sites.”

Professor, Doctor To Ngoc Thanh, chairman of the Vietnam Folk Art Association, said after the recognition, research of Nha nhac or Hue royal court music’s value was conducted more systematically.

Hue royal court music.

Central Highlands provinces have implemented many activities to honour and promote the value of the Central Highlands gong.

Two years ago, Dak Lak province held the Central Highlands Gong Festival, attracting visitors from home and abroad. This November, Gia Lai province will host the first international gong festival.

However, experts say that the best way to maximally promote heritages is through the creation of a network of provinces and cities which host heritages.

Central provinces have joined hands to create the “Heritage Road of the Central Region” in the past five years. Quang Nam province Department of Culture, Sports and Tourism’s deputy director Ho Tuan cuong said that thanks to this programme, the number of visitors to heritages in the central region rises annually.

Central Highlands gong.

However, director of Quang Binh province Department of Culture, Sports and Tourism Le Hung Phi said that this programme is not highly effective because of the lack of close connection between local governments. They only cooperate to advertise heritages.

Quang Nam’s Ho Tuan Cuong said that it is necessary to have cooperation between central provinces and Central Highlands provinces and it would be even better with additional connections to Hanoi and Quang Ninh. Most importantly, the Ministry of Culture, Sports and Tourism should play the role of a “general director” to help provinces and cities that have heritages come together.

“We support the viewpoint of associating localities which have world heritages in Vietnam, and even with those in Laos, Cambodia and Thailand to bring into full play the potentials of Vietnam’s heritages,” said director of Quang Ninh province’s Department of Culture, Sports and Tourism Le Toan.

VietNamNet/TNVN

Vietnam gets 7th mobile network

2009-07-21T21:01:00.001-07:00

VietNamNet Bridge - Gtel Mobile, a Vietnamese – Russian joint venture, launched Vietnam’s seventh mobile network, Beeline, on July 20.

Gtel Mobile general director, Alexey Blyumin, said VimpelCom - the Russian partner – has pledged to invest US$1.8 billion in Vietnam over the next five years.

It has so far pumped in $267 million into Beeline.

The new service is initially available in 40 cities and provinces, including all major cities like Hanoi, Ho Chi Minh City, and Danang, with a population of around 41 million.

It is expected to be available in all 63 cities and one year later.

Beeline has announced a package called “Big Zero” in which users do not have to pay for the second minute of any call to another Beeline number.

Calls to other networks will cost VND1,199 a minute and international calls will cost VND3,600. International SMS messages will be VND2,500.

Vietnam’s Global Telecom Corporation holds a 60 percent stake in GTel Mobile with VimpelCom holding the remainder.

Beeline is the brand name used in Russia by VimpelCom, the second largest cell phone operator in the former Soviet Union. It has 62.7 million subscribers in Russia and Eastern Europe.

VietNamNet/SGGP

First int’l Salsa festival in Vietnam

2009-07-21T20:59:00.002-07:00

VietNamNet Bridge – Salsa dancers from many countries and Vietnamese salsa fans will group up at the first Salsa Holidays from July 30 to August 1 at Sheraton Hotel, Hanoi.

Three special guests of Salsa Holidays: (from the left) Reyno, Sharon Parkir and Gupson Pierre.

Salsa entered Vietnam several years ago and has quickly developed. In the first international Salsa festival in Vietnam, fans will see the presence of three special foreign guests, who will perform with international and Vietnamese dancers.

The first is Gupson Pierre from Canada, Chairman of Attitude Dance Studio. This is a leading dancer in the world and a talented trainer who has won many prizes at highly-reputed dance competitions in the world.

The second is Sharon Parkir from Australia, a lecturer of the Salsa Melbourne Institute, who has taught Salsa in many famous dance centres worldwide.

And the third is Reyno from Indonesia, who is the founder of the Salsa Fresca and the champion of the Salsa Indonesia Championship.

Besides enjoying impressive shows by international and Vietnamese Salsa dancers, Salsa Holidays will be a chance for young people to register for Salsa courses taught by famous foreign dancers.

VietNamNet/VNE

Vietnamese researcher produces chipset tester

2009-07-21T20:59:00.001-07:00

VietNamNet Bridge – A chipset which has not been tested is priced at $0.15. It is $350 after being tested successfully. Intel has said it will buy into the chipset tester designed by a researcher from the Sai Gon Technology University.

Le Phuoc Lam introduces the chip tester.

Le Phuoc Lam’s project named “Manufacturing chip testing equipment used in chip technology training” has been checked and taken over by the HCM City Department of Science and Technology.

Lam’s equipment includes hardware to receive orders from computers and perform the test, the wafer, the box to connect tested chipsets and the software to run it on computers.

Lam said that testing the chipset is one of the most important steps in producing chipsets, affecting the production costs of chipsets.

A chip that is not tested is priced $0.15. The price is $350/chipset after it is tested. In the world, there are chip testers serving the chipset manufacturing industry, priced at around $2 million, not chip testers for training. To hire a chip tester, the charge is $125,000 to 175,000 per hour.

Sai Gon Technology University’s vice director Le Hiep Tuyen said that they will invest more in this project to improve some functions and then manufacture the testers to serve chip technology training in Vietnam.

Intel Vietnam is willing to combine with the Sai Gon Technology University to develop this equipment. The firm will also buy testers to provide for some Vietnamese universities for training activities.

VietNamNet/Dat Viet

Australian Trade Minister to visit Vietnam

2009-07-21T20:58:00.001-07:00

VietNamNet Bridge - Australian Minister for Trade Simon Crean (photo) will visit Vietnam on July 23-26 to enhance trade and economic ties, the Australian Embassy announced on July 20.

In Hanoi, Crean will co-chair the 8th Joint Trade and Economic Cooperation Committee (JTECC) with the Vietnamese Minister of Planning and Investment Vo Hong Phuc on July 24. The meeting will discuss key sectors in the two countries’ bilateral relationship: education and training, infrastructure and environmental management, financial services, energy, oil and gas, and agribusiness.

“As we progress towards implementation of the ASEAN-Australia-New Zealand Free Trade Agreement, I look forward to discussing its practical contribution to the bilateral trade and investment relationship with Vietnam,” Crean said.

The Australian Trade Minister will be accompanied to Vietnam by a business delegation, and will also visit Ho Chi Minh City on July 25-26. He is scheduled to visit two companies in Ba Ria-Vung Tau Province, which is next to the city.

The ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), which was signed in February this year in Thailand, is the largest FTA Australia has concluded, according to Mr. Graeme Swift, Australian Consul General in Ho Chi Minh City.

By the time the agreement was signed, Australia had recognized Vietnam’s market economy status. The decision to grant this status was made in the context of the AANZFTA negotiations. The recognition means that, in any future anti-dumping investigations by Australia in relation to imports from Vietnam, Vietnam will be subject to the same assessment process as other WTO members.

It is expected that AANZFTA will enter into force no later than January 2010, once a number of AANZFTA parties have completed their national ratification processes. Vietnam has not ratified it yet.

Once in force, the FTA will reduce or eliminate tariffs across a region that is home to 600 million people, with an estimated GDP of US$2.7 trillion.

Australia and Vietnam stand to gain from the agreement across many sectors, including exports of agricultural products, industrial goods and services.

Under the agreement, almost 90 per cent of tariff lines covering 96 percent of Australia’s trade with Vietnam will be tariff-free by 2020.

Two-way trade between Australia and Vietnam grew an average of 22 per cent a year over the last five years, reaching A$8 billion in 2007-08, according to the Australian Consulate General. Two-way trade services in 2007-08 totaled A$1.05 billion.

VietNamNet/SGGP

Vietnam ranks 6th in Asia in mobile phone users

2009-07-21T20:52:00.000-07:00

VietNamNet Bridge – With 73.2 million mobile phone subscribers by March 2009, Vietnam holds sixth position for the number of mobile phone users in Asia.

China and India secure the first and the second positions, with 644.8 and 391.6 million subscribers. The two countries account for 1.04 billion subscribers of the world’s total number of 4.15 billion.

The third largest mobile market in Asia is Indonesia, with around 144.6 million, followed by Japan.

In fifth position is Pakistan, followed by Vietnam with around 73.2 million users by late March 2009.

The seventh is the Philippines with 71.7 million, followed by Thailand 62.7 million, Bangladesh 46.3 million and South Korea 46.2 million.

The top ten countries for mobile users in Asia have 3.48 billion people and 1.68 billion mobile users.

VietNamNet/ICTNews

Century’s longest solar eclipse to come on July 22

2009-07-21T02:26:00.001-07:00

VietNamNet Bridge – The longest total solar eclipse of the 21st century will take place early on July 22. People watching In northern Vietnam will see the sun 2/3 to 3/4 covered, but in the far south, only a quarter of the sun will be obscured.

The Vietnam Astronomy and Space Association’s Nguyen Duc Phuong said that the total eclipse will be witnessed within a 258km-wide strip running nearly half-way around the globe.

The phenomenon will first be observed in India, then Nepal, Bhutan, Myanmar, China and far out in the Pacific. A partial eclipse will be observed in a larger strip, including most of East Asia and the Pacific. In most of Vietnam, people will only be able to see a partial eclipse at around 8.11am.

The best location for observing the phenomenon in Vietnam is the northern mountainous province of Ha Giang, with the maximum coverage of 75.8 percent, at 8.11am and then Hanoi with 67.5% at 8.11.50am. The maximum coverage is smaller in the Mekong Delta city of Can Tho, with 25.5% at 8.11.40am and HCM City 27.4 percent at 8.13.04am.

The best site to observe the phenomenon in the world is in the Pacific Ocean, with the maximum time of 6.39 minutes, at 9.35am, Hanoi time. This will be the longest total solar eclipse in the 21^st century.

Phuong said that there are 2-5 solar eclipses a year but a total eclipse is rare. Some years don’t see total eclipses but some have as many as two. Total eclipses often take place within a very short time, rarely exceeding 7.31 minutes. There are only around 10 total eclipses of over 7 minutes every 1,000 years. The latest eclipse of 7.3 minutes was recorded on June 30, 1973.

A solar eclipse occurs when the moon passes between the Sun and the Earth so that the Sun is fully or partially obscured. This can only happen during a new moon, when the Sun and Moon are in conjunction as seen from the Earth. At least two and up to five solar eclipses can occur each year on Earth, with between zero and two of them being total eclipses.

A total eclipse occurs when the Sun is completely obscured by the Moon. The intensely bright disk of the Sun is replaced by the dark silhouette of the Moon, and the much fainter corona is visible. During any one eclipse, totality is visible only from at most a narrow track on the surface of the Earth.

Total solar eclipses are nevertheless rare at any location because during each eclipse totality exists only along a narrow corridor in the relatively tiny area of the Moon’s umbra.

A total solar eclipse is a spectacular natural phenomenon and many people travel to remote locations to observe one. The 1999 total eclipse in Europe helped to increase public awareness of the phenomenon, as illustrated by the number of journeys made specifically to witness the 2005 annular eclipse and the 2006 total eclipse. The most recent solar eclipse occurred on January 26, 2009, and was an annular eclipse.

In ancient times, and in some cultures today, solar eclipses have been attributed to supernatural causes. Total solar eclipses can be frightening for people who are unaware of their astronomical explanation, as the Sun seems to disappear in the middle of the day and the sky darkens in a matter of minutes.

A day in the heart of Central Highlands

2009-07-21T02:23:00.000-07:00

VietNamNet Bridge – In the Central Highlands province of Daklak, one may have various places to see and to enrich their knowledge in a locality widely known as the land of epics. There are magnificent waterfalls, an ocean-like lake, old-fashioned structures, and thrilling terrains you name it. Having only one day for going places, I randomly opted for Bao Dai palace out of curiosity about one vestige of the recent dynasty, only to find myself richly rewarded with a new, sudden discovery: the Ko Nia tree.

A visitor contemplates a couple of gongs at the Bao Dai palace.

Many people in Vietnam know well a song titled The Shadow of Ko Nia Tree by veteran Vietnamese composer Phan Huynh Dieu. The song is about an ethnic wife missing her husband who went into the battle during the Vietnam War. Every adult can sing the song by heart because of its very beautiful lyrics, which show how the young wife through the shade of the giant tree is saddened by her husband’s faraway whereabouts.

However, few people know what a Ko Nia tree is, and I am no exception.

The chance comes up quite suddenly.

Upon arriving in Buon Me Thuot city, the provincial capital of Daklak, I dropped by the home of an old friend for a visit. Soon after, my friend took me to Bao Dai palace where Vietnam’s last emperor used to stay as a retreat.

While approaching the palace from Y Ngong street, we came across two giant trees, and I was told they are the Ko Nia. I ran into rupture at the mere mention of the name, and was aware that my effort to cover the long distance of 350km from HCMC was worth it. I have been quite curious about the tree, for long.

The trees made a searing impression on my mind with their huge leaf canopy and long branches and heights of nearly 100 meters. The trunks were so thick it took at least nine people to encircle one by joining hands. No wonder the tree takes a significant place in the highlands’ poetry, as seen in the poem The Shadow of Ko Nia Tree by writer Ngoc Anh, which was later made into a famous song by composer Phan Huynh Dieu as mentioned earlier.

Amazingly, the trees have a shape like long roof houses, which are very popular in the region. Long houses are usually venues for tribal groups to gather together during important events of the community.

We then left the trees for Bao Dai Palace, only to find out an interesting feature about the structure of the house used by last King of the Nguyen Dynasty, who passed away in 1997.

The palace stands lonely under many green trees. Looking at the front of the house, what we immediately perceived was that it looks like a long house, while from the rear, it looks European in style with the surrounding trees standing guard like soldiers.

In fact, the house was rebuilt in 1940, remodeled after the Highland architecture pattern combined with modern features. The roof and floor of the house are wood and there is also a basement. Vietnam’s last Emperor, Bao Dai of the Nguyen Dynasty, used it for quarters and receptions when he was in the region.

After the victory of the August Revolution in 1945, Daklak ethnic minority unification festivals were often held in the house, including a public display of their works, in a united and solemn atmosphere.

The palace has been recognized as a historical-cultural vestige by the Ministry Culture, Sports and Tourism and has become a museum for displaying historical cultural objects of Daklak ethnic groups. Thus, visitors will see gongs, drums, and wooden artifacts that describe daily activities and a colorful culture of tribespeople there.

Of course one day is too short for anyone wanting to explore Daklak in its cultural entirely. But to me, the day was really exciting. In visiting the Bao Dai palace, I had a great chance to learn more how the long house tradition has a twist on structure, and even on nature, as seen in the shape of the Ko Nia trees I accidentally came across.

VietNamNet/SGT

Bau Da wine village

2009-07-07T00:13:00.000-07:00

VietNamNet Bridge – Bau Da wine is a famous specialty of Bau Da village in the central province of Binh Dinh.

The name of Bau Da originated from Cu Lam village’s Bau Da in An Nhon district’s Nhon Loc commune, 22km from Quy Nhon city.

This wine is entirely made by hand.

It is said that Bau Da wine makes drinkers have sensations of fire and ice. As a matter of fact, get a drop of wine on your skin, and you will get a chilly feeling.

Pour this wine from a height to hear the marvelous sound of wine splashing. Then let the glass of wine spread it fragrance through the atmosphere for a moment before sipping it and feeling it foam around mouth.

Locals say that northern and southern tourists treated to Bau Da wine have said it is better than Johnny Walker brandy.

It is made of newly-harvested rice grains and special water, which make it transparent, and then distilled with straw and husk-fired heat.

However, the most attractive aspect of Bau Da wine is that intimate friends prefer to sit cross-legged on the floor on a moonlit night to both enjoy wine and recitals.

Some photos featuring Bau Da village:

The gate of Bau Da village.

The village is surrounded by green fields.

The village's temple.

The rice that makes the famous wine of Bau Da.

An old villager is talking about how to produce Bau Da wine.

Boiling wine.

The finished product.

VietNamNet/VNE/Binh Dinh newspaper

Vietnam’s entrant hastens preparations for Miss Universe

2009-07-07T00:12:00.000-07:00

VietNamNet Bridge – Miss Universe Vietnam’s first runner-up Vo Hoang Yen is about to go to the Bahamas for the Miss Universe 2009 pageant. She is very busy at this moment preparing for the event.

From the left: Universe Company's representative, Hoang Yen and a representative of the John Robert Powers school.

To improve the inherent weakness of Vietnamese contestants, timidity, Hoang Yen is improving her communicative and presentation skills with foreign experts at the HCM City-based John Robert Powers school.

Hoang Yen studies English at a reputed English teaching centre in HCM City and does physical exercise under the guidance of a leading expert at the California Wow Experience Centre.

Hoang Yen and Al Morgan, Asia’s top nutrition and fitness expert.

Al Morgan, Asia’s top nutrition and fitness expert, designs Hoang Yen’s daily exercises and is managing her nutritional supplements to help her get the best shape in the shortest time.

The Vietnamese representative is also undergoing skin treatments at spas.

Hoang Yen at a spa.

Hoang Yen is proud to have all of her preparation activities reported by the local media. Compared to previous Vietnamese entrants in international beauty contests, Yen is said to be the one who has most carefully worked on her image.

Yen said that at this moment she is ready for the pageant on Paradise Island, the Bahamas from August 2-23.

Hoang Yen's working schedule is full and she travels a lot.

VietNamNet/DT

Cars unsalable in the world, but selling well in Vietnam

2009-07-07T00:10:00.000-07:00

VietNamNet Bridge – While the car sales have plummeted in the world market, in Vietnam, there are still not enough Toyota or Honda cars to satisfy demand. In such a market, ‘fixers’ thrive.

Car models all in short supply

Vietnam is really a lucrative market for automobile manufacturers: cars still sell well here despite the economic downturn.

All the models offered by Toyota Vietnam are reportedly in short supply, especially Vios, Altis and Camry. Customers have been told that if they place orders right now, they will get delivery in November and December.

A business officer of Toyota urges customers to place orders right now, or you will have to wait a long time to get deliveries,” he said. “Even for the Innova van, customers have to wait till October, and longer for the smaller models which are now the top choices of customers”.

However, it is not easy to place orders now. Toyota My Dinh has rejected orders for ‘hot’ models since May. A salesman of the agent said that it will only have cars by October to deliver to the customers who have signed contracts. Therefore, it has decided to stop signing new contracts to avoid risks.

Honda’s models are also reportedly in short supply. Customers who want to purchase a Honda Civic, will have to wait until August to get delivery. If they want Honda CRV, will have to wait until October. And if they want a silver-gray Civic or CRV, they’ll have to wait even longer.

GM Daewoo (Vidamco) reports satisfactory sales of its Lacetti and Gentra small sedans. A Vidamco manager said that the firm can’t promise its customers deliveries until August. Red Gentras are in especially high demand.

“I visited different car sales agents looking for a Vios and I was told to place orders, pay a deposit and wait,” said one weary customer.

Profitable opportunities for ‘fixers’

“If you place your order for an Altis right now, normally you won’t get delivery until December. But you if want delivery sooner, you just need to pay me 40 million dong to install some additional equipment for the car. I will try to arrange a car for you in August,” a salesman of Toyota LH told a VTC journalist that he thought was a prospective customer.

Toyota LH is the sales agent that announced during the ‘SUV/MPV fever’ in April, before higher taxes on those vehicles went into effect, that it would only sell cars to customers who agreed to pay 20 million dong to ‘install more equipment.’ It seems that the sales have been going so well that the sum of money has been doubled.

The short supply brings golden opportunity for ‘fixers’ (called ‘storks’ in Vietnamese slang) to ‘do business’. It is impossible now to purchase cars at the manufacturers’ suggested retail prices (MSRP). The only way to get car deliveries soon is to pay additional money to sales agents.

In insider explained how this is done. Salesmen’s relatives sign contracts to buy cars. Then, a salesman will contact customers to resell the contracts signed with the manufacturers under the salesmen’s relatives’ names. A lot of customers agree to pay additional money to get deliveries soon, rather than waiting many months to get cars. On some auto forums, the required premiums are $1,000-1,500.

A customer named Long complained that the official sales agents say cars have run out, but if customers agree to pay more money, they still have cars to sell. “Customers are the biggest sufferers. They have to clench their teeth while their pockets are picked,” he said.

In the rest of the world, as the global crisis has deepened, cars have been almost unsalable. In the huge North American market, Toyota’s small car sales in June were 32 percent below the same period of the last year. To pump up sales, Hyundai and Suzuki have been offering ‘low cost petrol’ to those who purchase their cars.

Meanwhile, in Vietnam, there are not enough cars to sell. A question has been raised that if it is true that automobile joint ventures are short of cars to sell, or this is just the art of marketing?

VietNamNet/VTC

PM restricts use of Government cars

2009-07-06T21:17:00.000-07:00

VietNamNet Bridge – Each State agency, public non-business unit or State-owned enterprise is now allowed to buy only one car worth a maximum of VND800 million (US$44,400).

The newest regulation strictly prohibits the utilisation of public cars for personal purposes and details clearly the rules relating to car type, value and usage.

The new decision was made by the Ministry of Finance (MoF) to replace a previous decision made by the Prime Minister in April 2008.

In an attempt to help curb inflation, in the 2008 decision the Prime Minister had mandated a freeze on the purchase of Government cars to halt the excessive amounts of public funds going towards the purchasing of Government vehicles, said Pham Dinh Cuong, director of the Public Assets Management Department under MoF.

Old quota

Originally, there was a regulation promulgated in May 2007, which had already set criteria, quotas, management and use of means of transport in State agencies, public non-business units and State-owned enterprises. If this had been properly implemented, the State could have saved up to VND2 trillion (US$111 million) every year, MoF had estimated.

The newest regulation strictly prohibits the utilisation of public cars for personal purposes and details clearly the rules relating to car type, value and usage. This applies to all government officials from district leaders up, chairmen of management boards, general directors of State-owned corporations and other entities appointed by the Prime Minister.

According to Cuong, the policy for the use of Government cars will become stricter.

"Besides the policy of reducing the number of government cars, we will popularise self transport," Cuong said.

"In the past, a Government car was considered a symbol of power but at present, no one cares. In fact, using taxis and private cars is nicer," he said.

Time to punish

However, as reported by the State Treasury, since the original regulation was promulgated two years ago, 73 cars were still purchased for a cost to the public of VND32 billion ($1.7 million).

The Treasury also requested MoF punish those in possession of more cars than allowed by regulation, with the biggest culprits being the Ministry of Agriculture and Rural Development and then the Ministry of Transport.

Economist Pham Chi Lan said it was pressing to prevent misuse of the public's money for transport, but wonders how the regulation will be implemented.

"I understand all decisions are to save money for the State's budget," Lan said, "So everyone should leave their own benefit behind and think about common benefit".

VietNamNet/Viet Nam News

Foreign banks to give domestic firms a run for their money

2009-07-06T20:25:00.000-07:00

VietNamNet Bridge – Dr Nguyen Minh Phong at the Ha Noi Socio-Economic Development and Research Institute spoke to Thoi Bao Ngan Hang (Banking Times) about competition between local and foreign banks.

What do you think about increasing operations of wholly foreign-invested banks in Viet Nam?

Local banks should also associate with foreign banks to increase their strengths.

Under the WTO commitments on banking, effective since April 1, 2007, foreign banks are allowed to operate in Viet Nam. They can be representative offices, affiliates of foreign banks, joint-venture banks or wholly foreign-invested banks.

Wholly foreign-invested banks have many advantages, and it is therefore not unusual to see a wave of wholly foreign-invested banks stepping up operations recently.

Viet Nam is also an attractive destination for foreign investors. The global economic crisis is increasingly singling Viet Nam out as a country with comparative advantages, particularly in political stability and economic development potential.

Foreign Direct Investment (FDI) is one indicator. Viet Nam is among the top ten countries and territories attracting FDI in the world.

The participation of foreign banks has helped improve Viet Nam’s financial market, giving people and the business community opportunities to enjoy financial services of international quality.

But this is also putting more pressure on the financial market.

I think the recent speeding up of foreign bank operations is merely an initial step. The competition will only start by the end of this year, when mother banks abroad gradually recover from the financial crisis.

It seems that foreign banks have more advantages, while the only advantage for local banks is being on "home turf". What do you think about this?

It’s true. Foreign banks can gain the upper hand over local ones in terms of history, experience, financial potential, technology, human resources, understanding partners and international business rules.

These advantages will allow them to provide competitive products. Moreover, by employing Vietnamese bankers, foreign banks will become experts in the local market.

However, local banks also possess some advantages. Firstly, they have outstretched branches that can offer cheap services to customers, especially small- and medium-sized ones. This is also a tool to create joint ventures with foreign banks to mutually allocate services.

Another advantage is that Vietnamese customers find it easier to do business with Vietnamese banks.

And local banks are better at finding information about domestic enterprises and getting a better hold on the psychology and business traits of Vietnamese people than foreign banks. With such advantages, they can introduce appropriate products.

Which parts of the market will be the most competitive?

Each bank has its own strategy, and it also depends on the market and their familiar customers.

Yet, by and large, foreign banks will focus on such areas as the following: international payments, worldwide money transfers and modern banking services, targeting foreign investors and those customers in the middle and high classes.

Foreign banks will speed up joint ventures with other businesses to consume products and services. They can lend money to customers to buy cars and houses by joining with auto companies and housing investors.

What do local banks have to do to fend off the competition?

They should know their capacities. First, by concentrating on products and parts of market that they are good at, and second, by expanding and developing more new, modern products that suit their capacities. They must improve the quality of their products and services, especially in procedures and attitudes towards customers.

Local banks should take initiative in associating with other banks and partners to develop and supplement their shortcomings to each other.

It’s essential to work out a strategy to restructure and raise management ability and technologies in an attempt to raise competitiveness.

Local banks should also associate with foreign banks to increase their strengths.

For the part of the State, it must have common guidelines on orientation, supervision and support for local banks during this process of restructuring and raising competitiveness.

VietNamNet/Viet Nam News

Vietnam may export more than 5 million tonnes of rice

2009-07-06T20:24:00.000-07:00

VietNamNet Bridge – Vietnam previously planned to export 4.5-5 million tonnes of rice this year. However, the volume of rice enterprises have registered to export so far this year exceeds five million tonnes. 3.46 million tonnes have already been delivered.

Farmers in the Mekong River Delta have finished harvesting the winter-spring crop and they are harvesting the early summer-autumn crop. The price of young rice is hovering between 4,200 and 4,300 dong per kilogramme, while the price of first-class unprocessed rice is 5,600-5,670 dong per kilogramme and second-class rice is 5,200-5,300 dong per kilgramme. Meanwhile, five percent broken finished product is selling at 6,950-7,000 dong per kilogramme, 15 percent broken rice at 6,450-6,500 dong per kilogramme and 25 percent broken rice at 5,700-5,800 dong per kilogramme.

The Institute for Policies and Strategies on Agriculture and Rural Development Area has forecast that Vietnam’s rice exports this year may reach 5.5 million tonnes, an increase of 0.5 million tonnes over last year.

According to the Vietnam Food Association (Vinafood), Vietnam’s total rice export volume may reach six millions tonnes this year. Huynh Minh Hue, acting Secretary General of Vinafood, said that in the last six months of the year, Vietnam will mainly export summer-autumn and autumn-winter rice.

In the context of the global financial crisis and economic downturn, it is expected that countries in the world will import rice in volumes equal to their consumption demands, while they will not import rice to store up like they did in 2008. Analysts said that the demand will come late, while transactions and deliveries will take place within short periods. Therefore, rice exports and consumption of merchandise rice will depend on the market’s performance. With the current signing of export contracts, farmers will absolutely be able to consume all the merchandise rice of the 2009 summer-autumn crop.

“The domestic rice prices have been inching up, while more export contracts have been signed. If the current situation continues, the export of six million tonnes of rice proves to be within reach,” Hue affirmed.

However, VFA has also expressed concerns that the volume of high-quality rice in the 2009 summer-autumn crop may be lower, since most farmers are growing low-quality seed rice, including IR50404.

However, the Cultivation Department under the Ministry of Agriculture and Rural Development said that IR50404 rice just accounts for 18.2 percent of the total growing area, just 3.2 percent higher than the recommended level.

Prof Dr Bui Chi Buu, Head of the Southern Institute for Agriculture Sciences, also said that it is absolutely possible for Vietnam to export 5.5-6 millon tonnes of rice this year because of the high rice output.

According to the Food and Agriculture Organisation FAO, in 2009, the demand for rice is estimated at 32 million tonnes, up by 2 million tonnes in comparison with 2008.

VietNamNet/TBKTVN

Cycling to explore the Mekong Delta

2009-07-06T20:05:00.000-07:00

VietNamNet Bridge – Cycling through orchards and along rivers, visiting pagodas to discover culture and history and indulging in stunning landscapes are wonderful experiences.

Tourists on a bicycle tour in the Mekong Delta.

We start in the Mekong Delta province of Long An’s Tan An commune and follow Bao Dinh Canal toward My Tho city. Full of strength and curiosity, we are all keen to explore the land on our iron horses.

The road is surrounded by colorful fruit orchards, elegant pagodas, poetic rivers and peaceful canals.

Reaching Tien Giang province, we stop by Thoi Son Islet in My Tho city to row a boat on zigzagging canals, sit in the garden house and sip tea with honey and enjoy the singing of folk songs. Then we visit Vinh Trang Pagoda which was built in the nineteenth century and is famous for its ancient architecture and design and its 60 precious wood statues.

The next day, we continue on to Ben Tre province, our eyes satisfied by the green of endless coconut farms. We talk with some residents about the life of farmers.

The next day is a tour of Vinh Long province’s Cai Mon district which is nationally famous for its fruit. We do not worry about being tired after long hours on our bicycles but have fun fishing, cooking and joining entertainment areas. At night, we have an outdoor party with fresh fish and local cuisine accompanied by cai luong (southern classical music).

We saddle our bikes and move on to Can Tho city to see floating markets such as Cai Rang and Phong Dien to buy indigenous specialties and to sense the hardships of the sellers. Markets wake when the sun is still below the horizon as sellers gather to prepare for a new day.

Finally, we conquer 20 kilometers on bicycle to visit Bang Lang Stork Garden, a 1.3 hectare stork sanctuary popular with tourists who come to see thousands of storks. Visitors can see these birds returning home from hunting food in the late afternoon. The image of thousands of storks gathering in the Garden is exotic to visitors.

Organized bicycle tours of the Mekong Delta are available from Saigontourist Travel Service Company. Visitors will be accompanied by a tour guide, a doctor and medical equipment.

Saigontourist is located at 49 Le Thanh Ton street, distríct 1, HCMC, tel: 3827 9279, email: info@saigontourist.net, website: www.saigontourist.net.

VietNamNet/SGT

Solution for “disguised” golf courses: collecting tax arrears

2009-07-06T20:03:00.000-07:00

VietNamNet Bridge – As many as 166 golf courses covering 52,000 hectares of land serve around 5000 golfers in Vietnam. Each golfer has over 10 hectares of land for entertainment. Meanwhile, each person in the northern delta has only 360 sq.m of land for planting rice on average.

The National Assembly’s Committee for Science, Technology and Environment vice chairman Nguyen Dang Vang has suggested various solutions, including collecting tax arrears.

Under the rules of market, supply and demand of a product or a service must be in balance, otherwise that market will become distorted. The market of golf in our country is very absurd, the chairman says. There are around 5000 players but there are 166 golf courses. The average number of golf courses of 192 countries and territories, including developed countries, is 14.

Most golf course projects are real estate ones. How can we deal with this problem?

Most golf courses incur losses, even the senior Da Lat golf course (in Da Lat city, Lam Dong province). This golf course is located in a very nice area, which has many tourists, but last year it still lost money. However, people flock to invest in golf courses. Minister (of Planning and Investment) Vo Hong Phuc said that this is a masquerade. We can see it if we look at the area of golf courses. It is estimated that a golf course needs around 100 hectares of land but golf courses in Vietnam have an average area of over 300 hectares.

Therefore, golf developers use two-thirds of the land for real estate business. In my opinion, golf courses must be considered real estate projects. It is very regrettable that a golf course which asks for 300 hectares of agricultural land is licenced.

Plains are favourable for transport and agriculture so they must be used for production. Golf courses can create a small number of jobs on a hectare of land so I think some golf courses in the Red River Delta should not be licenced.

You mean that golf course projects on plains should be revoked?

It depends on local governments. Investors were licenced and they invested their money in these projects. If local governments revoke golf projects, they have to compensate them.

But I think that if there are more effective projects than golf courses, local government should compensate golf developers and revoke land to implement the other projects.

How should we solve the “inflation” of golf courses? Should we ban the construction of real estate works on golf courses for sale?

That’s right! I think the Ministry of Planning and Investment considered this. When the ministry stipulates that a golf course must be less than 110 hectares, investors cannot build villas for sale. We can also ban golf developers from selling real estate projects on golf courses.

In my opinion, we should reconsider taxation methods. Land for building golf courses is sold at 90,000 dong per square metre because it is agricultural land. If houses are built on that land, the price will be millions of dong per square metre. The government should collect arrears of taxes and land fees from golf courses that have houses for sale.

The Ministry of Planning and Investment plans to revoke 50 golf course projects. Is that number small?

It is small but it shows the ministry’s intentions concerning golf courses. However, it would be very difficult to withdraw licences of projects that have completed formalities. But I emphasise that we can use taxes as an effective method. Golf courses are for rich people, account for vast areas of land, cause pollution and affect food security, so taxes should be very high.

If taxes are suitable to the fact, these disguised golf courses will disappear.

New criteria for golf courses: We don’t have a plan for golf courses nor an agency managing golf courses. As it is a new form of business so we deal with each project individually. Since local governments have been able to licence golf course projects, some investors, mainly local investors, have built houses on golf courses for sale. A typical case is the southern province of Long An.

The government assigned the Ministry of Planning and Investment to check and compile a plan for golf courses as of August 2008. Local governments have granted licences to 145 projects and 145 projects are allocated with land. It will be very complicated to deal with these projects but we will try to save land for rice.

Under the new criteria, a golf course must not use over 10 hectares of rice land. A standardised golf course will be allocated up to 110 hectares of land.

The Ministry of Planning and Investment plans to “cut” 50 golf courses. The licence of golf courses in the future will be tightened.

Minister of Planning and Investment Vo Hong Phuc

VietNamNet/TT

Moc Bai border gate EZ: supermarkets closed

2009-07-06T19:55:00.000-07:00

VietNamNet Bridge – People arriving at Moc Bai border gate economic zone (EZ) these days might be very surprised when seeing supermarkets and shops with their doors closed. The EZ, which welcomed 10,000 visitors a day previously, is now deserted with no visitors or buyers.

Supermarkets’ doors shut

The first days of July 2009 prove were the quietest days of the Moc Bai EZ since it put duty-free shops into operation. The roads to the supermarkets were empty, while the parking lot in front of the trade centre was deserted.

Only several taxi motorbike drivers were seen standing there, asking people if they wanted to go to Cambodia. There were several security guards standing at the entrance to supermarkets, who had the duty of announcing the halt of operation of the supermarkets. The vehicles, which once were used to carry passengers, are now sitting idle in the storehouse. It was dark inside the supermarkets with closed stalls and no souls in sight.

Forty-six of 48 enterprises operating in the area have stopped operating, while two shops are still operating but at the point of death because they are only allowed to sell goods to Cambodian visitors. Meanwhile, only one delegation of 15 Cambodian people was seen visiting the Hiep Thanh Trade Centre on July 4.

Only one stall is now open at Hiep Thanh Centre. The owner of the stall said that he has seen very few visitors since July 1. “The number of customers has dropped by 99.9 percent. Only small groups of Cambodian visitors have dropped into the stall in the last few days, but they bought next to nothing,” he said.

Not tax-free anymore

Le Van Tuong, Deputy Head of the Moc Bai Border Gate EZ, told Tuoi tre newspaper that some trade establishments have temporarily shut doors for stock taking, while others have closed doors to adjust software for calculating taxes. Tuong said that most establishments have shut down because of the new regulations on selling duty-free goods. The new regulations stipulate that as of July 1, domestic visitors and tourists are not allowed to purchase goods duty-free in Moc Bai.

“Enterprises have been living on trading duty-free goods. With the new regulations, they fear that the profit will not be high enough to cover expenses,” Tuong said.

According to the director of an enterprise in Moc Bai, the prices of goods in Moc Bai will be much higher than the prices in HCM City with import tax, VAT, luxury tax and the transport fee for carrying goods from Saigon port to Moc Bai. Therefore, Moc Bai will not attract visitors anymore.

A Viet Kieu from Canada, who has a stall at Hiep Thanh Trade Centre, related that he injected $12 million to trade in the area. However, his business is getting more and more difficult as Government policies have become tightened. At first, every visitor was allowed to purchase 500,000 dong per person per day worth of duty-free goods. The figure was then lowered to 500,000 dong per person per week, and now the purchase of duty-free goods is prohibited.

“If the situation cannot be improved, I will have to close my business here,” he said.

According to Tuong, the Tay Ninh provincial people’s committee has sent a dispatch to the Government, proposing it reconsider some policies and the finance mechanism for Moc Bai EZ.

New policies affecting investment attraction

Like at the Moc Bai EZ, trade activities at Tinh Bien border gate non-tariff area in An Giang province have also become quiet these days. Very few people visit the area these days.

Traders here complain that they are on the verge of bankruptcy. “We only made investment in the remote area because we thought we would enjoy the tax exemption,” a businessman said.

“Only tax incentives can encourage investors to open duty-free shops and make investment in infrastructure items here. Now with the new regulations, the investment projects in the border gate economic zone will be cancelled,” said Le Huu Trang, Deputy Head of the An Giang Border Gate EZ’s management board.

VietNamNet/TT

Ha Long tops new 7 wonders

2009-07-06T17:42:00.000-07:00

Tourists go on a cruise aroung Ha Long Bay (Photo: Hanoi Tourist)

VietNamNet Bridge - Ha Long Bay, one of Vietnam’s two UNESCO natural world heritage sites, take the list of 11 candidates of Group G in the second phase of campaign voting for seven new world wonders of nature.

According to a recent announcement released by the NewOpenWorld, the campaign is now entering the end of the second phase, where 21 sites with the most votes will be selected for the final round.

The organizing committee will announce the list of 21 finalists on July 21. There after, the campaign will continue to vote for New 7 Wonders of Nature, which will be unveiled in 2011.

During the first phase of the campaign, which took place between July 2007 and December 2008, three of Vietnam’s famous tourist attractions were nominated, including Halong Bay, Phong Nha-Ke Bang National Park - another UNESCO Natural World Heritage, and Mount Fansipan.

The campaign takes place on www.new7wonders.com.

VNN/SGGP

Fanciful Champa towers

2009-07-06T17:41:00.000-07:00

VietNamNet Bridge – The central province of Binh Dinh is home to eight groups of Champa towers, located in Phu Cat, Tuy Phuoc, An Nhon, Tay Son and Quy Nhon.

In the city of Quy Nhon, visitors can see Thap Doi (Twin tower) on the bank of Thi Nai lagoon.

Around 30km from Quy Nhon is Banh It tower complex in Tuy Phuoc district, which comprises four small towers located on a mountain next to the Kon River.

Heading to the north, visitors will see Phu Loc and Canh Tien towers on high hills. Canh Tien tower is inside the ancient Champa citadel of Do Ban. Some history books say the tower was the gift of Cambodian King Che Man to his Vietnamese wife, princess Huyen Tran.

Other towers are Binh Lam in Tuy Phuoc district, an unnamed tower on Ba Mountain in Phu Cat district, Thu Thien and Duong Long on the two sides of the Kon River.

Duong Long tower

Thap Doi (Twin) tower.

Taking wedding-photo at a Champa tower.

VietNamNet/VNE

Contemporary Vietnamese music abundant but in disorder

2009-07-06T17:40:00.000-07:00

American researcher Jason Gibbs.

VietNamNet Bridge – Jason Gibbs, an American independent researcher, has worked with Vietnamese music for decades and has been to Vietnam several times to learn about Vietnam’s music genres. After a talk with a Vietnamese audience at the Goethe Institute in Hanoi on June 25, he talked with Tuoi Tre Cuoi Tuan about modern Vietnamese music.

Foreign researchers often study traditional Vietnamese music, how about you?

Jason Gibbs was born in 1960 and is now working in the field of music at the San Francisco Public Library, California. He has published research on Vietnamese music in magazines such as Van Hoa Nghe Thuat (Culture and Arts) and Xua va Nay (Past and Now).

Most music researchers do their research under the names of organisations. Because they are sponsored by these organisations, they have to choose topics that are suitable to the sponsors’ requirements.

As an independent researcher, I can choose other topics. I like Vietnam’s pre-war music very much. I also like Vietnamese modern music, which is abundant but in disorder.

Are you afraid that your research themes are the same as local researchers’ topics?

I think research of modern music in Vietnam is wanting. Everyone knows that this country has a young population so the young are highly influential in society. Vietnam is changing thanks to the young. But I read only disparagements of modern music in the local newspapers, meaning disparagements over the tastes of music of the young.

I think that passion is very important in doing a job well. I recently saw a show of students in Hai Phong. There was a rock song. They also danced hip-hop. Of course they aped foreigners but they performed passionately and I was moved. I think we should respect the young’s way. The more people participate in the music life, the better music is.

You mean we should not intervene in the youth’s choice?

Ngu Cung rock band at Rock Storm 2009.

It is the same in Vietnam as in the US. When a young person is ordered “You have to learn singing cheo”, they will resist and do conversely. The young are interested in what’s fashionable and singing cheo is not.

But if they reach a certain level of culture and music, I think their ears will open widely to receive different genres of music and then they will wish to learn about the music of their nation. It is difficult for teens to study traditional music but those of over 20 years old, who have basic understanding of music, I think they will return to traditional music. So if we have to do something, I think we should help the youth have more knowledge and understanding about music.

Do you plan to do that?

I indulge myself in music and love to listen to different music genres in the world. I work in San Francisco so I have opportunities to work with the community of Vietnamese there. I came to Vietnam for travel but now I’m the husband of a Vietnamese woman (smile).

The next topic that I wish to study is the role of music in Vietnamese society today. I want to know about the spiritual lives of workers who move from rural to urban areas to work in industrial zones. I want to know their taste and needs in music.

VietNamNet/TTCT

Vietnam among happiest countries

2009-07-06T17:38:00.000-07:00

VietNamNet Bridge – Vietnam has been found to be one of the five happiest countries in the world due to its long average lifespan, Vietnamese people’s satisfaction with their lives and low environmental impact level.

A summer day of Vietnamese kids.

The UK-based New Economics Foundation (NEF) announced the Happy Planet Index (HPI) on July 4 for 143 countries in the world.

On the list, Costa Rica is the greenest and happiest country in the world. South American countries take nine of the top ten positions, the sole exception being Vietnam, which checks in at fifth.

Western countries didn’t get high positions on the list, with the UK at the 74^th and the US at the 114^th, because these countries have high costs of living and they consume a lot of natural resources.

Zimbabwe is at the bottom of the list, 143^rd.

According to the report, Costa Rica has an average lifespan of 78.5 and 85 percent of its population are satisfied with their lives. Up to 99 percent of the country’s energy comes from recycled sources.

Meanwhile, Vietnam has an average lifespan of 73.7 and 65 percent of its population are satisfied with their lives.

The Happy Planet Index is an index of human well-being and environmental impact that was introduced by the New Economics Foundation in July 2006.

The index is designed to challenge well-established indices of countries’ development, such as Gross Domestic Product (GDP) and the Human Development Index (HDI), which are seen as not taking sustainability into account.

In particular, GDP is seen as inappropriate, as the usual ultimate aim of most people is not to be rich, but to be happy and healthy. Furthermore, it is believed that the notion of sustainable development requires that we have a measure of the environmental costs of pursuing those goals.

The top ten happy countries:

1. Costa Rica
2. The Dominican Republic
3. Jamaica
4. Guatemala
5. Vietnam
6. Colombia
7. Cuba
8. El Salvador
9. Brazil
10. Honduras

VietNamNet/VNE

Thailand, VN to join forces on rice exports

2009-07-06T01:28:00.001-07:00

VietNamNet Bridge - Thai and Vietnamese rice exporters have agreed to co-operate to beef up their bargaining power in global markets.

An agreement was signed between Chookiat Ophaswongse, president of the Thai Rice Exporters Association, and Huynh Minh Hue, secretary-general of the Viet Nam Food Association, at the 6th rice trade co-operation meeting in Phuket last week.

Under a memorandum of understanding they agreed to seek to standardise sales contracts to provide a fairer deal to rice exporters.

"Now, importers have a greater say in sales contracts, which contain some conditions that are not fair to us," the Bangkok Post quoted Chookiat as saying.

For instance, he said, they demand contracts that include a 5 per cent "plus-or-minus" clause which means exporters are required to ship up to 10,500 tonnes for an order of 10,000 tonnes, while importers can choose to take just 9,500 tonnes.

Vietnamese traders shoulder an even higher burden of 10 per cent plus or minus, according to the Bangkok Post.

The 6th meeting in Phuket last week aims at strengthening the two countries’ export competitiveness through closer co-operation. A working group has been formed to work on details.

Chookiat said Thailand plans to sell around 8 million tonnes of rice this year, compared to 10 million tonnes last year.

His country turns out 20 million tonnes of milled rice annually, half of which is meant for domestic consumption.

VNN/VNS

A bay to shelter from economic woes

2009-07-06T01:28:00.000-07:00

Halong Bay’s charms have landed it many global admirers.

VietNamNet Bridge - Home to world natural heritage site Halong Bay and the key economic hub of northern Vietnam, Quang Ninh province is offering investors lots of investment opportunities.

While Vietnam is emerging as one of the most attractive investment destination, Quang Ninh is also on the radar screen of many international investors looking to invest in Asia.

In recent years, Middle East investors have started to eye Vietnam as a good investment destination with coastal Quang Ninh province, about 180 kilometres northeast of Hanoi, a great site for investment projects.

United Arab Emirates-based Tamouh Investment LLC, in August 2008, signed a memorandum of understanding with Quang Ninh People’s Committee for studying investment projects in the province.

According to Quang Ninh People’s Committee, Tamouh will draw-up plans for investing in a seaport and oil refinery project, a highway project connecting Halong city and Mong Cai town and a university to provide skilled workers for the United Arab Emirates.

Early this year, Limitless LLC, a business unit of Dubai World, announced it had raised the investment capital for its Halong Star Hotel project, which was started to be built in 2007, from $220 million to $550 million.

Philip Atkinson, regional director for Limitless in South East Asia, said Quang Ninh had great land for investment, adding that the company would further expand its investment in the province to tap that potential.

During the visit of Prime Minister Nguyen Tan Dung to the United Arab Emirates in February this year, Limitless signed a memorandum of understanding with Quang Ninh authorities to invest in the Mac Dynasty Lagoon project. In its plans, Limitless would develop the project as a multi-functional industrial park, urban and entertainment complex.

Nguyen Van Thanh, director of Quang Ninh Planning and Investment Department, said the province’s leaders were aware that the province had huge potentials for investment projects and it was widely opening doors for investors, especially foreign businesses.

Bordering with Lang Son, Bac Giang, Haiphong and Hai Duong provinces and Chinese Guangxi province, Quang Ninh is now the third economic hub of northern Vietnam, after Hanoi and Haiphong. The province also owns the largest coal deposits in the country.

Vietnamese government saw Quang Ninh as a part of the pivotal economic development triangle of Hanoi-Haiphong-Quang Ninh in northern Vietnam, that would drive northern economic development.

Due to its favourable geographic condition and giant coal mines, Thanh said, Quang Ninh was a good place for developing seaports, shipbuilding and heavy industrial projects.

He said that not only Middle East investors studying investment opportunities in Quang Ninh, many other domestic and foreign investors also came for developing investment projects.

Currently, US-based AES Corporation is preparing documents to build a $1.4 billion Mong Duong thermoelectricity plant in Quang Ninh. Meanwhile, another US company, SSA Marine, joined hands with Vietnam National Shipping Lines to invest in Cai Lan international container port.

Quang Ninh Planning and Investment Department revealed that Chinese Fosun Group was planning to build a steel manufacturing plant with total annual capacity of about five million tonnes in the province Thanh said in the future, the province would continue encouraging investors to invest in the industrial areas like shipbuilding, energy, steel manufacturing and cement.

“With the advantage of position and seaports, investors could save a lot of transport costs when they manufacture products in Quang Ninh and export them to international markets,” said Thanh. Recognising that many investors are eyeing investment potential in Quang Ninh, the province’s leaders announced they were pushing infrastructure development so as to meet investors’ requirements.

In next few years, a series of transport systems would be upgraded or newly built. For example, the province will upgrade Mong Duong-Mong Cai road, which links Quang Ninh to China’s Guangxi province. Van Gia seaport will also be built while the province is seeking approval from the government for developing the international Van Don airport.

Furthermore, transportation from Hanoi to Quang Ninh will be more convenient as the government is planning to build a highway linking Hanoi’s Noi Bai International Airport and Quang Ninh’s Halong city, expected to be operational in 2015. As the province is trying to improve its transport infrastructure system, some investors have built industrial infrastructure.

Two years ago a domestic joint venture including Vietnam Shipbuilding Industry Group, Vietnam National Coal-Mineral Industries Group, Vietnam National Oil and Gas Group, Bank for Investment and Development of Vietnam broke ground of the large Hai Ha seaport and industry complex.

The province and the joint venture announced that the $18 billion complex would offer good infrastructure for investors embracing shipbuilding and ship-repairing, steel manufacturing, oil refineries and urban development. Furthermore, Cai Lan, Hai Yen, Viet Hung and Dong Mai industrial parks offer good infrastructure conditions for investors.

But Quang Ninh is not only favourable to investors in industry sector. Home to Halong Bay, one of the nicest bays in the world which have been recognised as a world heritage, Quang Ninh is also an ideal destination for investors to develop tourism projects.

Halong Bay covers an area of 1,553 square kilometres including 1,969 islands. There are many soil islands, caves, grottoes, beaches, beautiful landscapes enabling the development of attractive tourist sites of various types.

According to Quang Ninh Planning and Investment Department, about 4.4 million tourists visited Quang Ninh in 2008. In the first quarter of this year, the number of tourists was 678,000, a 23 per cent increase against the same period last year. The department estimates number of tourists visiting Quang Ninh could be around 4.8 million people this year despite the economic downturn impacting Vietnam’s tourism sector.

“That proves the attractiveness of Quang Ninh tourism potential,” Thanh said, adding that many tourism investment opportunities had not been explored in Quang Ninh.

In May this year, Song Da Urban & Industrial Zone Investment and Development Joint stock Company broke ground of its Song Da Ngoc Vung eco-tourism project in Quang Ninh.

Like United Arab Emirates’ Tamouh and Limitless, American Rockingham Group is planning to invest in a tourism project at Halong Bay, including villas, a five-star hotel and a golf course. It also proposes to build a casino.

Besides that, Quang Ninh is calling investment for developing an entertainment complex in the province’s Van Don Economic Zone, covering an area of about 300 hectares.

VNN/VIR

PetroVietnam holds exploration talks

2009-07-06T01:27:00.000-07:00

Bach Ho oilfield, the main source of crude oil for Dung Quat Oil Refinery.

VietNamNet Bridge - The National Oil and Gas Group (PetroVietnam) has entered negotiations with Chevron Co regarding product shares and prices for a US$4 billion oil, gas exploration and exploitation project at the B48/95 and B52/97 Blocks, off southern Ba Ria-Vung Tau Province.

The group’s new general director Phung Dinh Thuc said, in an on-line press conference on July 3, that he hoped the two partners would reach an agreement in July.

There are expectations that Chevron will hold 43 per cent of the shares and contribute nearly $2 billion in investment capital, and also co-ordinate with Japanese Mitsui and Thai PTT.

PetroVietnam will put four new oilfields into operation in the second quarter of this year. Two of the oilfields will be located in Viet Nam, in Nam Rong - Doi Moi and Peal; the two others will be abroad in D30 and Dana in Malaysia.

The small fields are expected to generate a total output of 430,000 tonnes by the end of this year, he said.

Also yesterday, the group reported VND120.4 trillion ($6.68 billion) in revenue for the first half of this year, 16.6 per cent lower than the same period last year, attributed mostly to lower global oil prices.

The group earned about $3.5 billion from 8.1 million tonnes of crude oil exports during the period, falling 39 per cent against the corresponding time last year.

PetroVietnam attributed the low income to average global crude oil prices at $50 per barrel, nearly half in comparison to last year’s average peak price of $106.

"As a result, the group only contributed VND42.9 trillion (nearly $2.4 billion) to the State Budget in the first six months, 20 per cent less than a year earlier," Thuc said.

The group also contributed about VND23.6 trillion ($1.3 billion) to a number of ongoing major projects, including the Dung Quat Oil Refinery; a fertiliser plant in Ca Mau; the Nghi Son oil refinery complex; Long Son refinery and Nhon Trach power plants No 1 and 2; an ethanol plant in northern Phu Tho province; and a polyester fibre plant in Dinh Vu(Hai Phong).

"The country’s first oil refinery in Dung Quat was expected to see its products on the market by the end of June. Although the products were churned out on June 25, due to ongoing negotiations with distributors the products have yet to hit the market," said Vu Thi Bich Ngoc, chief of PetroVietnam Marketing Development Department.

PetroVietnam also worked with the Viet Nam National Petroleum Corporation (Petrolimex) - the nation’s largest petrol distributor - to sell Dung Quat’s products.

Under their agreement, Petrolimex will distribute 20,000 tonnes of petrol, 30,000 tonnes of diesel and 2,500 tonnes of kerosene this month, she added.

While crude oil resources from Bach Ho Oil-field is running out, Dung Quat mapped out plans to import crude oil from British supplier BP. It is anticipated that the first shipments of crude oil from overseas will be in November and December, she said.

Besides BP, PetroVietnam negotiated with other foreign crude oil providers for Dung Quat, including Saudi Aramco, the state-owned national oil company of Saudi Arabia.

VNN/VNS