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Vientiane (VNA) – Viet Nam and Laos have signed a contract on oil exploration in Lao southern provinces of Champasak and Salavan.
Vietnamese Permanent Deputy Prime Minister Nguyen Sinh Hung and his Lao counterpart Somsavad Lengsavat witnessed the signing ceremony held in Vientiane on January 8.
The PetroVietnam Oil Exploration and Production Corporation (PVEP) will be responsible for the exploration work, which covers 14,140sq.km of the two provinces.
PetroVietnam’s Chairman of Management Board Dinh La Thang pledged to cooperate closely with Lao relevant agencies and authorities to successfully implement the contract.-Enditem
(Agency)
New Delhi (VNA) – The Indian Government will grant Viet Nam a loan of 45 million USD at an interest rate of 1.75 percent, for the building of the Nam Chien hydropower plant in northern Son La province.
An agreement to this effect was signed in New Delhi on January 8 by Deputy Director of the Vietnamese Finance Ministry’s Department of External Finance Vu Xuan Hieu and Chief General Manager of the Export-Import Bank of India Prabhakar Dalal.
Under the agreement, the BHEL (Bharat Heavy Electricals Limited) of India will provide equipment including turbines, transformers and controls to the hydropower plant.
The agreement was in implementation of the results of Vietnamese Prime Minister Nguyen Tan Dung’s visit to India in July 2007.-Enditem
(VNAgency)
Ha Noi (VNA) – Three communication ports, which are expected to help Vietnamese agencies in making policies inline with WTO commitments, were launched in Ha Noi on January 8.
The TBT port will provide information relating to technical barriers to trade, the SPS port (Sanitary and Phytosanitary) will deal with food safety and hygiene and animal quarantine, and the WTO port will give information on WTO activities and related issues.
In his inauguration speech, Deputy Prime Minister Pham Gia Khiem, who is President of the National Committee on International Economic Cooperation, stated that those ports will also supply information on Viet Nam’s implementation of WTO agreements.
The Deputy PM also said that those ports will also help enterprises to overcome trade and technical barriers in their business and production, especially in goods exports to regional and world markets.
“The ports will help improve the country’s competitive capacity and sustainable growth in the current trend of international integration,” the Deputy PM said.
The three communication ports were built with the support of the Multilateral Trade Assistance Project Viet Nam II (MUTRAP II), which was sponsored by the European Union.-Enditem
(VNAgency)
Ha Noi (VNA) – Prime Minister Nguyen Tan Dung affirmed that Viet Nam is a market economy in which the State management and investors’ interests are in harmony.
The PM made the affirmation at his reception for representatives of 14 leading groups of the UK , including BP, Dragon Capital, Rolls-Royce, Prudential and HSBC and UK Ambassador to Viet Nam Mark Kent in Ha Noi on January 8.
“The Vietnamese government will do its best to help British businesspeople to reap sweet fruits from their investment,” PM Dung emphasised.
He said he was pleased with the cooperation between Viet Nam and the UK with two-way trade reaching approximately 2 billion USD and the UK ranking third among European Union investors in Viet Nam .
“Your presence in Viet Nam is a specific demonstration of the potential for cooperation between the two countries,” PM Dung told the business representatives.
The British businesses highly valued the strong growth of Viet Nam ’s economy and committed themselves to making a long term investment in the country.
They said they hoped to continue getting strong backing from the Vietnamese government to facilitate the deployment of their investment projects in the country.
UK Ambassador to Viet Nam Mark Kent also said Viet Nam is one of the 16 markets of particular interests of the UK and expressed hopes that the PM would visit his country soon.-Enditem
(VNAgency)
Ha Noi (VNA) – SeABank has received approval from the central bank to raise its charter capital to 3 trillion VND, becoming one of the top three joint stock banks in Ha Noi in terms of charter capital.
This year, the bank is expected to continue raising its charter capital to 5 trillion VND (312 million USD) . In addition, SeABank also successfully issued 2 trillion VND (125 million USD) of convertible bonds with a face value of 10 million VND (600 USD) per bond.
The bank plans to further expand 35 branches and transaction bureaus bringing the total number to 85 nationwide.-Enditem
(VNAgency)
Hai Phong (VNA) – The Viet Nam Shipping Lines Corporation (Vinalines) will start work on the construction of an international port in Lach Huyen, Cat Hai district, the northern port city of Hai Phong in May this year.
This is one of the two national projects scheduled to start in Hai Phong city in 2008.
The 28 trillion VND (1.75 billion USD) port, to be completed in 2020, will be the country’s largest deep water port, capable of accommodating ships of up to 6,000 TEU and 50,000 DWT and handling 100 millions of goods a year.
In the first step, Vinalines will build two harbours with 600m of quays to receive 50,000 tonne ships and a logistics service centre.
As part of its strategy to become a strong economic group in the region, Vinalines plans to build five more ports in Hai Phong city which can receive up to 20,000 tonne ships, a logistics service centre in Dinh Vu port, a training centre in Do Son town and invest in industrial parks, properties and urban areas in Hai Phong.-Enditem
(VNAgency)
Ha Noi (VNA) – Management agencies under the National Fisheries Quality Assurance Veterinary Directorate (Nafiqaved) have quarantined all breeding shrimp imported through border gates last year.
The total included 4.7 million breeding black shrimp, 124,000 mother black shrimp and 8,589 mother white-legged shrimp.
Natiqaved also tightened hygiene and veterinary inspections in all breeding and aquaculture farms.-Enditem
(VNagency)
