Vietnam Town

RoK helps establish electronic procurement system

The Republic of Korea (RoK) will provide Vietnam with 3 million USD in non refundable aid for a technical assistance project on the establishment of an e-procurement pilot system.

A record of discussion on the technical assistance was signed in Hanoi on June 20 between the Vietnamese Ministry of Planning and Investment (MPI) and the Korea International Cooperation Agency (KOICA).

The project, which will be carried out through 2009, is part of the RoK government’s commitment under Memorandum of Understanding on electronic procurement cooperation signed between the two governments in November 2004.

With the RoK assistance, the Ministry of Planning and Investment will build and test the system in the Electricity of Vietnam Group, the Vietnam Telecoms and Post Group and the Hanoi People’s Committee.

Head of the MPI’s External Relations Department Ho Quang Minh said that the project will help increase the publicity and transparency of procurement activities and contribute to fighting corruption in this area.

Vietnam’s fundamental advantages remain, says Hong Kong TDC

Though costs are rising in Vietnam , many of the country’s fundamental advantages remain, said a director of Hong Kong Trade Development Council (HKTDC).

At series of market briefings held recently by HKTDC to update Hong Kong small and medium enterprises on trade issues and opportunities in the US, Thailand, Vietnam, Cambodia and India, HKTDC director in charge of Vietnam, Tina Phan, said that Vietnam has recently been hit hard by soaring food and oil prices, and the government is trying to rein in inflation, which has climbed to 16 percent.

According to Phan, Vietnam’s fundamental advantages include an inexpensive labour force with a high literacy rate, risk diversification, a base for exports and stable political and social conditions.

She added that potential sectors for Hong Kong in the markets include electronics, building and construction materials, machinery and equipment, financial services, telecom service, education and training.

However, there are short of managerial talent and weak in local supporting industries in the country, Phan said.

Businesses urge all-out efforts to fight counterfeit goods

The Vietnam Association for Anti-Counterfeiting and Trademark Protection (VATAP) convened a symposium on June 19 to push for stronger efforts to fight fake goods.

The symposium focused on a draft action plan of the VATAP, which unites more than 100 businesses nationwide towards the common goal of curbing counterfeit and copy goods.

The draft proposed to make November 29 the anti-counterfeiting day.

The VATAP also called for stricter market inspection and simpler administrative procedures this field.

It recommended that businesses establish their own agent systems with strict business regulations and actively help relevant agencies in assessing and providing information on counterfeit goods. Businesses should also publicise ways to distinguish authentic and fake goods and promote their business trademarks.

The growing production and trafficking of counterfeit products in Vietnam has affected domestic producers and consumers as well as investment environment.

Every year, relevant agencies detect and punish tens of thousands cases of manufacturing and trafficking counterfeit, poor quality and outdated goods and seize a large volume of counterfeit cosmetic products, foodstuff and materials for production.

State Bank allows JV bank to raise capital

The State Bank of Vietnam (SBV) has given the nod to the Vid Public Joint Venture Bank to increase its statutory capital from 20 million USD to 62.5 million USD in 2008.

Vid Public is a joint venture between the Bank for Investment and Development of Vietnam and the Public Bank Berhad Malaysia . Each side will contribute an additional 21.25 million USD.

The SBV has also allowed the Military Commercial Joint Stock Bank to issue bonds worth 3 trillion VND and the Sai Gon Thuong Tin Commercial Joint Stock Bank to issue long-term valuable papers worth 5 trillion VND.

32 million tonnes of equivalent oil exploited

Members of the Vietnam National Oil and Gas Group have exploited 9.32 million tonnes of equivalent oil over the past five months, including 6.09 millioin tonnes of crude oil and 3.14 billion cubic metres of gas.

The group also reported that it exported 5.7 million tonnes of crude oil during the period.

The Chemicals and Nitrogenous Fertiliser Joint Stock Company, a member of the group, produced and supplied 264,000 tonnes of urea fertilier to the domestic market, contributing to stabilise the domestic fertiliser market.

The group’s total revenue in the January-May period hit nearly VND 108.5 trillion, with nearly VND 44.5 trillion going to the State budget, fulfilling over 66% of the group’s target set for this year.

Ha Tinh: Investment licence of FORMOSA Son Duong Port and lron/Steel Complex presented

The People’s Committee of the central province Ha Tinh has presented an investment licence of Son Duong Port and Iron/Steel Complex to Ha Tinh FORMOSA Hung Nghiep Iron/Steel Company Limited, with a total investment capital of nearly US$7.88 billion.

This is the biggest foreign direct investment project ever granted in Vietnam so far.

The project includes the Iron/Steel Plant with capacity of 7.5 million tonnes a year, which will be raised to 15 million tonnes per year in the second period, and Port Son Duong which serves the Iron/Steel Plant will be constructed in the area of over 3,000 ha, in which more than 1,000 ha of water surface in Vung Ang Economic Zone in Ha Tinh province.

Japan helps Vietnam modernise aviation management

The Japanese government has decided to help the Transport Ministry’s Civil Aviation Administration of Vietnam in making the Master Plan Study on Development of the New Communication, Navigation, Surveillance and Air Traffic Management Systems" (the New CNS/ATM Systems) to the year 2025.

A document on the study was signed in Hanoi on June 20 by representatives from the Japan International Cooperation Agency (JICA) preparatory study mission and the Civil Aviation Administration of Vietnam.

Under the document, the Study will include analysis of the existing systems; formulation of the Master Plan on the New CNS/ATM Systems to the year 2025; and feasibility Study on Priority Project Components in the roadmap for transition to the new systems.

The study will start in February next year and last for 13 months.

A Steering Committee will be established to monitor and evaluate the progress of the Study, discuss and advise JICA Study Team and Vietnamese counterparts on major issues arising during the implementation of the study, JICA said. 

(Source: VNA, ND)