Tuesday, July 31, 2007

Vietnam Business News Update

* Bien Hoa-Vung Tau road, railway projects to be built in BOT form
A 68-km expressway and a 78-km railway both linking Bien Hoa City and Vung Tau City between the two southern provinces of Dong Nai and Ba Ria-Vung Tau will be built under the investment form of build operate-transfer (BOT) with respective costs of US$325 million and US$400 million as they have been recently added to the list of BOT projects by the Ministry of Communications and Transport, Thoi Bao Kinh Te Vietnam reports.

* Industry grows 17% in Jan-Jul
The past seven months saw Vietnam generating a total industrial value of VND325.94 trillion (US$20.244 trillion), up 17% year-on-year, the Industry Ministry said. The ministry has called on enterprises to further tap the domestic market and promote publicity to better boost sales, Lao Dong reports.

* Electronics-computers exports bring in US$1.1 billion
The Planning and Investment Ministry has estimated US$1.099 billion in the country’s export revenue of computers and electronic products over the past seven months, up 24.6% year-on-year. However, the trade gap in this industry segment alone was put at US$396 million, Dau Tu reports.

* Construction Ministry okays sand export
A company in Ninh Thuan Province and another one in Quang Nam Province have got the green light from the Construction Ministry for exporting 100,000 cubic meters of sand. But approvals from the two provincial governments are required before the construction material is shipped abroad, Tuoi Tre reports.

* New decree on outbound oil and gas investment
Prime Minister Nguyen Tan Dung has signed Decree 121 ruling on outbound investment (FDI) in the oil and gas sector. The decree provides regulations on authorization and procedures to approve outbound investment, Nhan Dan reports.

* Dung Quat Oil Refinery needs 400 more employees
The project management board of Quang Ngai Province’s Dung Quat Oi Refinery has announced to recruit 179 engineers and 222 skilled workers for such sectors as marine, automation, information technology, communication electronics, petrochemistry, mechanics, electric and thermoelectric engineering, environmental safety, analytic chemistry and fire-extinguishing. All recruited people will have to undergo a three-to-nine month training course on how to operate oil-refining facilities locally and abroad, Tuoi Tre reports.

* 56 seafood processors get clean sheets for shipping products to Japan
As of August 1 fifty-six local enterprises are eligible to ship seafood to Japan without having to undergo inspection as informed by the National Fisheries Quality Assurance and Veterinary Directorate (Naviqaved). This is because these enterprises have exported ten consecutive seafood shipments to Japan found not to contain banned residues. The list will be monthly updated and sent to customs authorities, Tuoi Tre reports.