New Zealand GeoNet recorded that the quake occurred at 4:18 p.m. local time, with epicenter of 132 km below and 785 km away from Whakatane in north island. United States Geological Survey recorded the quake at 6.9 magnitude with epicenter of 111 km below. Ministry of Civil Defense of New Zealand said that based on current information, the initial assessment ruled out a subsequent tsunami threat after the quake. … [Read more...] about 6.7-magnitude quake jolts New Zealand’s remote islands, no tsunami alert
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Welcome to new english version of vietnamtourism.gov.vn
{mosimage}In the effort to give you more and more about Vietnam Tourism development, we try our best to uprade the content as well as the layout of official websites of Vietnam National Administration of Tourism.Beside vietnamtourism.com, vietnamtourism.gov.vn focus on VNAT's activities, central and provincial state policy on tourism developement. Also, several topics will be discussed among tourist specialists and tourists themselves. … [Read more...] about Welcome to new english version of vietnamtourism.gov.vn
Party leader: VN to become modern industrialised country
The report was presented by Party General Secretary Nong Duc Manh atthe opening session of the 11 th National Party Congress in Hanoion Jan. 12.The Vietnam News Agency published main contents of the report.Reviewingfive years of implementing the 10 th Party Congress’s resolution, thereport identified advantages brought about by the renewal process andinternational integration, as well as mentioning difficulties andchallenges caused by deep-rooted weaknesses of the national economy.Italso mentioned natural disasters, disease epidemics, complicateddevelopments in the region and the world, impacts from the globaleconomic recession and financial crisis, as well as subversive andviolence-incited activities and the “peaceful revolution” undertaken byhostile forces.By looking into those, the report affirmed thatin such circumstances, the entire Party and the entire people hadexerted efforts to fight off difficulties and challenges and attainedimportant achievements in … [Read more...] about Party leader: VN to become modern industrialised country
Thai Binh Trading Corp invests US$23 million in Cuba
Cuba was a potential market of Vietnamese enterprises, Tu said. Moreover, the Cuban believed to use Vietnamese products, he emphasized. The two factories were planned to be at Mariel special economic zones which was 43 kilometers from Havana. Investment capital for the washing powder factory was US$18 million from Thai Binh Trading Corp, Vico Limited Company and Suchel Company. The factory is expected to open in the second quarter of 2017 with 40,000 square meters. Thai Binh Trading Corp and Kywy Joint Stock Company invested US$5 million aiming to produce from 120 million to 180 million products per year. It would be built in 10,000 square meters and operated in first quarter of 2017. Besides the two projects, Thai Binh Trading Corp planned to build wood manufacturing factory for interior and exterior architecture in Havana, Vice Chairman of the Corp, Nguyen Thi Kim Thao said. On the other hand, the Corp had participated in the merge and acquisition market in Cuba, … [Read more...] about Thai Binh Trading Corp invests US$23 million in Cuba
Regional Conference on GDN Held
A regional conference on the Global Development Network (GDN) was held in Hanoi by the Vietnamese Government and the World Bank with the participation of over 100 researchers and representatives of organisations operating in distance training. GDN is a knowledge and co-operation network, set up in 2000 with a target of using technology and institution strength of the World Bank and partners to provide an effective development and knowledge sharing tool. At the conference, many distance training models developed in many countries, such as China, Japan and Australia, were introduced. Tran Van Nhung, deputy minister of education and training, said that Vietnam would study and apply these models as Vietnam has a huge need for information technology-based distance training. In a distance training project, which has recently been approved, a target of 20 per cent of students joining the training model by 2010 has been set. During the conference, the Ho Chi Minh … [Read more...] about Regional Conference on GDN Held
Vietnam-ROK Reach Agreement on WTO
On July 11, at the Ministry of Trade, Ambassador Kim Eui-ki and Trade Vice-Minister Luong van Tu signed an agreement on commodities and services, concluding the bilateral negotiation on Vietnam admission to WTO. ROK became the second partner, after EU, completing bilateral negotiation with Vietnam. Nine rounds of negotiations were conducted from April 2002 to May 2005. Vietnam is regarded as all-sided partner of Republic of Korea in the 21st century. It is expected that in December, at the WTO meeting in Hong Kong, Vietnam will become official member of the organisation. ROK Ambassador believed that the agreement will facilitate Vietnam admission to WTO in 2005 in the interests of both Vietnam and his country. K.P … [Read more...] about Vietnam-ROK Reach Agreement on WTO
EVN mobilises 2.96 billion VND for power projects in 2016
The funds were sourced from international financial institutions, such as the World Bank (WB), Asian Development Bank (ADB) and Japan International Cooperation Agency.Of the total, 1.76 billion USD was earmarked for power projects. EVN said international cooperation contributed significantly to its growth in 2016, with the WB and ADB supporting the group in studying long-term programmes on finance, management restructuring, renewable energy and infrastructure development.The group has worked with regional electricity companies to research power exchange as well as continued projects within the Greater Mekong Sub-Region (GMS), including the building of a GMS electricity trade centre. Theo TTXVN/Vietnam + … [Read more...] about EVN mobilises 2.96 billion VND for power projects in 2016
Private firms to line up for taste of beer sales
The draft of the Beer Industry Development Plan to 2010, which has just been finalised by the Ministry of Industry (MoI) and submitted to the government for scrutiny, is envisaged to replace the current plan that has been in place for three years and has become outdated.“Beer production output has exceeded the [initially] planned figure and is expected to continue its rising trend,” said Phan Chi Dung, director of the MoI’s Consumption Industry, pointing to the predicted 2.5 billion litres of beer to be consumed by the end of the decade.The existing development plan sets a target of 1.5 billion litres by 2010. However, the MoI estimates that this mark will be hit by the end of this year.He stressed that the current development plan also needed to be revised as part of Vietnam’s efforts to adapt to WTO rules. Specifically, the draft states that all limits being applied to foreign investors’ involvement and production outputs in the brewery industry will be … [Read more...] about Private firms to line up for taste of beer sales
Vietnam Stock Exchange: Development Opportunities And Challenges
In an effort to develop the market economy and synchronise all kinds of markets, including the stock exchange (SE), relevant State bodies, especially the State Securities Commission (SSC), gathered together to discuss the plans to open and develop the SE in 1995. The opening of the Ho Chi Minh City Securities Trading Centre (HSTC) in July 2000 marked a milestone in Vietnam’s efforts in its economic reforms and reaffirmed Vietnam’s determinations in developing the market economy. After five years of operating the stock market, Vietnam has reached many achievements in the initial stage, generalised as follows: 1. Successfully organising and operating the Ho Chi Minh City Securities Trading Centre, ensuring principles of the SE HSTC began with two listed companies and a total of VND270 billion (US$16.87 million) in listed value but as of March 31, 2005 it developed to reach a total listed value of VND27,500 billion (US$1.71 … [Read more...] about Vietnam Stock Exchange: Development Opportunities And Challenges
Ha Tinh’s Finance Sector Plays An Important Role in Socio-Economic Development
Ha Tinh province has gained a high economic growth rate of 8 per cent over the past few years thanks to the sound leadership of the local authorities in promoting its inner force, taking advantage of central supports, and upgrading facilities for agricultural and rural economy development. Speeding Up Economic Structure Bolstering its Inner Force, Upgrading Rural Agriculture Production Infrastructure The provincial Department of Finance has consulted the local authorities to effectively make use of loans from both domestic and foreign sources. At the same time the department, has already made a large investment in some programs to develop rural agriculture production, such as projects to solidify the local canal and ditch system and upgrade aquaculture and handicraft facilities. So far, the province has funneled as much as VND145 billion into building an additional 900km of … [Read more...] about Ha Tinh’s Finance Sector Plays An Important Role in Socio-Economic Development
Operation of Foreign Financial Institutions in Vietnam Revised
By June, 2005, there had been 32 foreign financial institutions from 15 countries and territories operating in Vietnam , including 28 branches of foreign banks, four joint venture banks set up by foreign banks and Vietnamese commercial banks, and three financial leasing companies. Among the 28 branches of foreign banks, there are three branches of American banks. Only 11 branches of foreign banks and one joint venture bank have their offices in Hanoi . The remainder is in Ho Chi Minh City , of which only five branches have opened its affiliates in Hanoi . The State Bank of Vietnam (SBV) stipulates that each branch of a foreign bank has to have charter capital of US$15 million (equal to VND 225 billion with US$1 equal to VND 15,000) provided by its parent bank. Almost all branches of foreign banks, joint venture banks and financial leasing companies are profitable even though their absolute figure is not large. Loans provided by foreign financial … [Read more...] about Operation of Foreign Financial Institutions in Vietnam Revised
Parkson eyes retail coup
Parkson’s application for an investment licence is now awaiting approval from the Ministry of Planning and Investment. A government notice issued last week asked that the licence require Parkson to support the export of domestic products and seriously invest in the local fashion design industry. The retailer applied for a licence to set up a 100 per cent foreign-owned enterprise with initial investment capital of $15 million. The company aims to design, produce and distribute garment products throughout Vietnam, with its first centre to be located in Ho Chi Minh City.Parkson stated the centre would sell locally-made garments and only import products that were not produced in Vietnam. In addition, foreign products will not exceed 5 per cent of the total value of commodities in the centre. Chief executive officer of Parkson, Toh Peng Koon, was quoted by Star newspaper as saying the company expected to obtain an operating retail licence and open its first outlet by the end of the … [Read more...] about Parkson eyes retail coup
Parkson to push into retail market
Parkson’s investment licence application has been approved by the city’s department of planning and investment and is now being considered by the Ministry of Planning and Investment (MPI), a department spokesperson said last week. “The MPI will look at the application before it is passed to the prime minister for final approval,” said the head of the department’s foreign enterprises division, Lu Thanh Phong.“The city has approved Parkson’s plan to open a shopping mall but the application needs to be approved by other relevant bodies,” Phong said.The local partner in the joint venture is tour company SaigonTourist, which has signed a memorandum of understanding with Parkson, the company’s general-director Nguyen Huu Tho, told Vietnam Investment Review last week.If approved, the mall would be SaigonTourist’s first venture with a foreign retailer. “If the proposal is approved, SaigonTourist will cooperate with Parkson to … [Read more...] about Parkson to push into retail market
Shrimp farmers to take on US anti-dumping suit
“No one knows when the US shrimp lobby will file the application, but their determination to proceed with the case is clear,” Dung said.Rumour has it that the Southern Shrimp Alliance and Louisiana Shrimp Alliance have threatened to take action against shrimp imports from countries such as China, Vietnam, Thailand, India and Ecuador. Dung said VASEP had been working with the possibility of such a case in mind, lecturing businesses about US anti-dumping laws, studying the US shrimp industry’s advantages and disadvantages and formulating arguments to prove local exporters had not undercut prices.He estimated that Vietnam would need between $1.2 and $1.5 million to proceed with the case, with funds to be raised from local shrimp exporters.Dung said the shrimp committee, which was established a few months ago to deal with the case, was selecting law companies to assist local exporters.Le Thanh Son, managing director of AIC Lawyers and Consultants, which has applied to … [Read more...] about Shrimp farmers to take on US anti-dumping suit
An urban area in the South of Ha Tinh
Ky Anh is a district located in the south east of Ha Tinh province, where has Quyen River, Hoanh Son Range and Ngang Pass with many gigantic sceneries. The district borders Cam Xuyen district in the north, Huong Khe district and Minh Hoa district (Quang Binh province in the west, Quang Trach (Quang Binh) in the south and the East Sea in the east. The total natural area of the district is 105,845 hectares. Of which, the agricultural land is 12,905 hectares (including 7,500 hectares of water rice), the forestry land is 20,392 hectares (13,355 hectares of natural forests and 7,034 hectares of planted forests). The area of water surface and sand capable of cultivating aquatic products is 1,500 hectares. Ky Anh has a coastal line of 62 kilometres stretching over 8 communes. This has been the district advantage in developing aquatic cultivation and exploitation. The district has one river estuary and Vung Ang deep sea port, which has been put into operation. This … [Read more...] about An urban area in the South of Ha Tinh
Dien Chau distric: Developing many small-scaled industrial parks and craft villages
Dien Chau is a coastal, densely-populated and rather rich district of Nghe An province. It is lying at 105030' - 105045' of the East Longitude and 18020'- 19050' of the North Latitude with 38 communes and one township. It borders Quynh Luu district in the North, the Cam Industrial Park of Nghi Loc district in the South, Yen Thanh district in the West and the East Sea in the East The district has big advantages on communication with many national roads passing through. There are 30 kilometres of the national road No1A running from the north to the south of the district. The national road No7A starting from Dien Chau cross-roads connects with Lao neighbouring country through Cau Tre international border gate. The north-south railway runs through the district. The canal of the Le Dynasty originated from Nghi Loc district runs through Bung River (Dien Chau) to the sea. The district has 25 kilometres of coastal lines. All the boats going from the north to the south … [Read more...] about Dien Chau distric: Developing many small-scaled industrial parks and craft villages
Seven Solutions for Stabilising Prices in Final Half
The consumer price index (CPI) increased by 5.2 per cent in the first half of 2005, according to figures from the General Statistics Office. Accordingly, the CPI of food and foodstuff saw the highest increase of 7.7 per cent. The figures for drinks, tobacco, housing and construction materials were put at only 3.1 and three per cent. The CPI of other goods rose by between 1.2 and 2.9 per cent. The gold price saw a 4.4 per cent fall. The exchange rate of US dollar was station. Despite a lower increase in comparison with the same period last year, the CPI of the first half of this year has been equal to 80 per cent of a target of 6.5 per cent set by the National Assembly for this year. Therefore, it will be difficult to stabilise prices in the year-end months. According to the Ministry of Finance, in the final half of 2005, there will be many favourable factors for the Vietnamese economy to achieve its development target, contributing to the stabilisation of prices. However, … [Read more...] about Seven Solutions for Stabilising Prices in Final Half
Cosevco 6 Strives for Profitable Operation
The Construction and Construction Materials Company 6 (Cosevco 6) is an affiliate of the Midland Construction Corporation (Cosevco) which locates in Dong Hoi City , Quang Binh province. The company has eight affiliates which employ 1,100 laborers. The years of 2003 and 2004 are considered the most successful period of Cosevco 6. It reported 2003’s total output of VND113.4 billion and turnover of VND98 billion while the figures in 2004 were VND156.2 billion and VND143.7 billion respectively. In the first six months of this year, Cosevco 6 produced 42,500 tons of cement (completing 50 percent of the yearly plan), 82,500 cu.m of stones, 16 million bricks and 12,000 cu.m of finished cement. The company’s tax payment to the State rose from VND3 billion in 2002 to VND4.25 billion in 2004, and its pre-tax profit lifted from VND750 million in 2002 to VND4 billion in 2004. All laborers are fully provided with social and medical insurances. … [Read more...] about Cosevco 6 Strives for Profitable Operation
Department of Information Technology with Ten Years’ Development
With a function of developing human resources for the information technology field, meeting the socio-economic development, the Department of Information Technology under the University of Technology , the Hanoi National University has experienced ten years’ development as a leading training information technology centre in Vietnam . Over the past decade, the department has made a significant contribution to the development of human resources of Vietnam ’s information technology. So far, the department has trained 1,740 people and now has 1,650 students. Each year, students of the department win awards at domestic and international contests on information technology. Apart from training, the department’s lecturers implement research works, some of which have applied in Vietnam and won prestigious awards in Vietnam , such as VIFOTECH and Vietnam Intellect. The department’s training programmes have been updated regularly with four … [Read more...] about Department of Information Technology with Ten Years’ Development
Consultancy and Labour Export Supply Company of Nghe An: Strengthening Labour Export
In recent years, Nghe An province has issued a policy of encouraging and attracting the central companies and the companies of other provinces specialised in labour export to work in the province. In 2004, Nghe An invited 8 additional enterprises outside the province, raising the number of labour-export enterprises at the locality to 33. Many of these enterprises have their representative offices in the province. The operation of diversified labour export enterprises there has created favourable conditions whereby not only provincial labourers can access the market but suppliers as well. Besides stable markets, the businesses engaged in the labour export programmes have expanded to some new markets that provide high incomes and stable jobs like Arabia, South Korea and Japan. The leading enterprise in labour export is the Consultancy and Labour Export Supply Company of Nghe An. In order that sufficient labour sources meet export requirements, the company has signed a contract with … [Read more...] about Consultancy and Labour Export Supply Company of Nghe An: Strengthening Labour Export