Rice exports in 2007: good business but poor quality
VNECONOMY updated: 28/01/2008
Vietnamese rice has been exported to more than 70 countries and territories around the world including demanding markets such as the EU, the US and Japan. However, behind this impressive figure, the Vietnamese rice exporters are still beset by worries.
In 2007, Vietnam was in the “runner-up” position amongst the world’s rice exporters with the total rice output hitting approximately 36 million tonnes.
In the Summer-Autumn crop alone, localities across the country harvested nearly five tonnes/ hectare, reaching an estimated output of 10 million tonnes, up 430,000 tonnes from the 2006 figure.
According to the Ministry of Industry and Trade, the country exported 4.3 million tonnes of rice in 2007, grossing more than US$1.4 billion in export turnover. Furthermore, the price of Vietnamese rice was sold at an average of US$293/ tonne, US$42/ tonne higher than in 2006.
In early 2008, thanks to winning contracts to export around 4 million tonnes, Vietnam is still the second biggest rice exporters just behind Thailand.
The Ministry of Agriculture and Rural Development said that last year, rice farmers in the Mekong River Delta enjoyed a bumper crop, earning an additional VND2,100 billion at an average price of VND3,000 for one kg of rice.
Rapid development but lacking sustainability
According to scientists, rice output has seen a constant growth over recent years. However, ensuring the sustainability, safety and quality of rice products remains problematic due to post-harvest loss and poor rice quality as a result of long lying in store. The Mekong River Delta Rice Research Institute said that the volume of post-harvest rice lost is still at a high level of 10 percent.
In addition, to meet with market demands, finished rice products must be preserved at a humidity of less than 14 percent, which is applied popularly for long rice in the US, Australia and Thailand. However, Vietnamese rice after being husked, is stored in humidity between 16-17 percent. Therefore, if exported, it must be re-processed to reduce the humidity to 14 percent but this process results in broken rice, reduced quality and low prices.
Prof. Dr. Vo Tong Xuan who has spent many years studying rice in the Mekong River Delta said that Vietnam could win many more rice export contracts after its entry to the World Trade Organisation (WTO). However, its rice must be quality and sold at a competitive price. To compete with big rivals like Thailand, farmers should create close links with businesses and apply advanced cultivation technology.
Rice exports in 2008 will continue to see positive signs as businesses have won contracts to export 4 million tonnes this year but the crux of matter is how to increase the quality of Vietnamese rice to meet the global markets’ tougher demands.
Last but not least there should be closer cooperation among farmers, agricultural managers and businesses, which will enable Vietnamese rice businesses to secure a foothold in the world markets.
Tuesday, January 29, 2008
Saturday, January 26, 2008
The PetroVietnam Trading Corporation, more commonly known as Petechim,
has signed a contract with state-run PetroVietnam to supply the latter's maiden Dung Quat refinery with 6.5 million mt/year of crude when the plant goes into operation in 2009, the Vietnam News Agency reported January 24.
The Dung Quat refinery, in the central
, will have a nameplate capacity of 6.5 million mt/year (around 130,000 b/d) and will meet 30% of domestic demand. provinceof Quang Ngai
The refinery will use local Bach Ho crude for the first five to seven years after which it would use a combination of Bach Ho and
crude in a 85:15 ratio, according to PetroVietnam, which owns 100% of the project. Dubai
The refinery will mainly produce gasoline (41%) and gasoil (40%)
compliant with Euro II emission standards.
PetroVietnam has also signed preliminary deals with Dutch trader
Trafigura and Swiss-based oil trader Glencore to meet long-term domestic needs for crude oil.
From being a crude oil exporter,
is going to turn into a net importer with several refinery projects in the pipeline. Vietnam
PetroVietnam is planning a second refinery project in Nghi Son in the
of Thanh Hoa. This plant will have a a nameplate capacity of 7 million-8.4 million mt/year and is targeted to begin operations before 2015. northern province
The refinery will process 100% sour
Separately, PetroVietnam is working with
's PDVSA on a detailed feasibility study for a third refinery project. This refinery, to be located either at Long Son or Ba Ria in the southern Venezuela , is expected to have a nameplate capacity of 10 million mt/year and is also targeted to begin operations by 2015. It will process 100% Venezuelan crude. provinceof Vung Tau
--Mriganka Jaipuriyar, firstname.lastname@example.org
© 2008 The Associated Press HANOI, Vietnam — Vietnam's national air carrier hopes to have direct flights between Ho Chi Minh City and Los Angeles within a year after the U.S. provided $1.4 million to help upgrade safety standards, an official said Friday.
The money will be used to ensure
"The assistance is essential to Vietnam Airlines in its efforts to open direct flights to the
He said the project's three phases are expected to be complete by August. U.S. Federal Aviation Administration will then visit
Vietnam Airlines could then launch its direct flight to the
Currently, United Airlines is the only carrier to operate direct service to the
These flights are considered direct because the planes only stop for a short time to pick up additional passengers.
More than 1.5 million overseas Vietnamese _ the largest population outside
A group from the Ho Chi Minh City Institute of Chemistry Sciences grabbed headlines last May by successfully extracting essential oil from an Eaglewood tree using a specialized technique.
The “supercritical CO2 method” has been found in the past to slash the amount of time involved in extracting oil as compared to a traditional steam distillation technique.
Further, it opened the door to large-scale production of Eaglewood oil, highly valued on the international market.
The method consists of pumping pressurized or “supercritical” carbon dioxide (SCO2) into a chamber filled with plant matter.
SCO2, a gas with liquid properties, then acts as a solvent, pulling off the compounds responsible for the plant’s characteristic fragrances which are used to make perfume and aromatherapy products.
The SCO2 extraction process occurs in moderate temperatures (around 37 degrees Celsius) and allows the extracts to retain much of their natural fragrance and color.
The steam distillation technique on the other hand, involves high temperatures which can cause the extracts to lose many of their most valuable properties.
Unlike other chemicals used in the steam distillation process, SCO2 is also a non-toxic substance and thus ensures the safety of the final product.
For the last four years, three chemists from the Institute of Industrial Chemistry in Hanoi have also been experimenting with the supercritical CO2 method on an equally valuable source of essential oils.
Their illuminating research earned them first prize at the 2007 Youth Science and Technology Awards, jointly organized by the Vietnam Institute of Science and Technology and the Ho Chi Minh Communist Youth Union.
While the technique has been used for decades by chemists in other countries, the Hanoi researchers decided to apply the method to local vegetation with the ultimate goal of turning a seemingly useless plant into a source of income for local people.
The team conducted experiments on a type of plant called Vetiveria zizanioides L. Nash, or simply vetiver grass.
Widely cultivated in tropical regions around the world, the grass is a major source of essential oils for the aromatherapy and cosmetics industry.
“Vetiver grass is in fact as important as the Aquilaria family, which includes the Eaglewood tree, as a source for producers of perfume and aroma therapy products,” said Le Dang Quang, head of the research group.
Nguyen Mai Cuong, another research member, said that in addition to its valuable essential oil, vetiver grass with its long roots, can also prevent erosion.
Cuong was entrusted with collecting the grass along the Tien Hai coast in the northern province of Thai Binh.
“We chose this grass because we want to enhance its value and to encourage its cultivation for the industry, as well as for an environmental cause – erosion control,” said Cuong.
In the past, local vetiver growers chiefly cultivated the grass as a material to make incense with, since there was no efficient way to extract its essential oils.
“And incense, the making of which involves manual and simple techniques, isn’t a highly valued product on the market,” Quang added.
The two institutes’ projects, Quang said, show Vietnamese chemists’ growing interest in applying global scientific advances to local research.
Reported by Thuy Linh
Nhan Dan - The National Oil and Gas Group (PetroVietnam) has set a target of producing 23.5 million tonnes of equivalent oil this year, including 16 million tonnes of crude oil and 7.5 billion cubic metres of gas.
The figures were released at a meeting to review the group's activities in 2007 and orientations for 2008 in Hanoi on January 25.
To reach these goals, PetroVietnam will speed up the exploration of new oil fields and bring online as well as speeding up construction of major projects.
After one year of operating under the group model, the Vietnam National Oil and Gas Group (PetroVietnam) reported an all-time high total revenues in 2007 of VND 213.4 trillion (US $13.3 billion), up 18.4% against the previous year and 27% against the targeted figure.
Ha Port in the Chu Lai Open Economic Zone in the central province of Quang Nam. The zone is aiming to attract US$500 million in combined investment capital this year. — VNA/VNS Photo Hong Ky
QUANG NAM — The Chu Lai Open Economic Zone (EZ) aims to attract combined investment capital of US$500 million this year, up 26 per cent from the corresponding period in 2007, head of the zone management board Le Phuoc Thanh said.
"The goal is within reach as four investors to date have registered to pump investment in infrastructure construction and tourism sectors in the zone," Thanh said without revealing the total level of investment capital so far.
During the coming year, top priorities will be given to projects specialising in tourism, services,transport infrastructure such as road and wharves, and construction of industrial zones and free trade areas.
"In order to cope with competition from new coastal economic zones, Chu Lai need to find new measures to attract more strategic investors as well as continue to solve difficulties facing investors in land clearance. Resettling people in areas targeted for development will also be a top priority for us," Thanh said.
The Chu Lai EZ Management Board will restrict the licensing of investment projects by evaluating plans yet to be implemented and considering licence revocations. The board will also be more discriminatory when handing out licences and allocating land.
As many as 21 investment projects, together worth roughly $962.3 million, were registered in the zone last year. Six of the 14 licensed were involved in the tourism sector while the rest were concentrated on industry.
"There is great potential for developing tourism in the EZ because of its coastal location, beautiful surroundings and large land fund for construction," the board said.
Among these licensed projects, four are already operational.
The latest additions bring the total number of registered projects in the zone to 51, with capital totalling over $1.49 billion. Among these 44 have been granted licences amounting to $704 million. — VNS
HANOI, Jan 26 (Bernama) -- Representatives of many international organisations and businesses have expressed their keen interest in Vietnam and continued to consider the nation an attractive investment market, VNA quoted the Vietnam Investment Review newspaper's special issue as saying.
The special issue reviewed foreign investment activities in Vietnam for the past 20 years.
Both Executive Director of the American Chamber of Commerce (AmCham) in Hanoi Adam Sitkoff and Chief Representative of the Hanoi-based Japan External Trade Organisation (JETRO) Kenjiro Ishiwata said that their member businesses are paying special importance to Vietnam.
"Vietnam's strategic position in the region has brought Japanese investors in," said JETRO Chief Representative.
Meanwhile, AmCham Director Sitkoff said that many US businesses consider Vietnam the world's most attractive emerging market.
World Bank Country Director Ajay Chhibber also admitted that more and more foreign companies consider Viet Nam an attractive investment destination in the region for its low cost, active reform and socio-political stability.
As a result, the annual foreign direct investment (FDI) influx in Viet Nam compared with its gross domestic product (GDP) is always high in Southeast Asia, he said.
Sharing the same opinion, General Director of the Korea Trade and Investment Promotion Agency in Hanoi Kim Won Ho said that Vietnam has surpassed China to become an attractive investment destination for his country's investors.
Vietnam's admission to the World Trade Organisation (WTO) and the ASEAN-RoK free trade agreement which became effective in June 2007 have helped Vietnam become an extremely important market" and our current top priority is to promote investment in Viet Nam, he affirmed.
These officials and executives also praised the Vietnamese Government for its efforts in implementing business and investment environment reform.
"Vietnam could not have become a favourite destination for FDI unless the nation made its pledge for business environment improvement and FDI promotion," WB Country Director Chhibber said.
"Forty percent of FDI businesses in Vietnam are wholly foreign-invested enterprises, 37 percent are joint ventures and the remaining are business cooperation contracts," he noted.
AmCham Director Sitkoff said that Vietnam's implementation of measures to improve its business and investment environment and its amendments and supplements to its legal documents have contributed to protecting the country's regulations and mechanisms and making them in line with the global standards.
"These laws have laid a favourable foundation for business and investment activities and helped promote Viet Nam 's socio-economic development," he elaborated.
However, they also pointed out the nation's shortcomings in attracting FDI such as poor infrastructural facilities, lacking high skilled human resource and a strong subsidiary industry.
In order to maintain a sustainable growth rate, Director of the Asian Development Bank in Vietnam Ayumi Konishi suggested Vietnam further improve its investment environment, continue to finalise its macro-economic policy mechanism, conduct structural reform and invest in skilled human resources.
He took the occasion to affirm that "ADB has been actively support Viet Nam in development process and committed to form a good investment environment in all over Asia ."
The WB Country Director said that Vietnam's implementation of its commitment in the WTO is a key factor for the nation to maintain its position as an attractive destination for FDI.
Friday, January 25, 2008
The Hanoi-based group said in a statement it aimed to add between 30 million to 40 million tonnes of oil equivalent to its total oil reserves annually, to "guarantee national energy security".
This year, the group said it aimed to purchase two major oil fields in Kazakhstan and Azerbaijan.
Petrovietnam's exploration arm PVEP said it had acquired assets, most of which were under exploration, in Algeria, Malaysia, Indonesia, Iraq, Mongolia, Venezuela and Madagascar.
Vietnam now ranks as Southeast Asia's third-largest crude oil producer after Indonesia and Malaysia, with 2008 oil production forecast at about 320,000 bpd, all for export as it lacks refineries.
The country's first oil refinery, the 140,000-bpd Dung Quat plant, is scheduled to go onstream in February 2009.
(Reporting by Nguyen Nhat Lam; Editing by Valerie Lee)
Thursday, January 24, 2008
PetroVietnam has previously reported output of 17.3 million tons in 2006.
The output figure for 2007 included more than 100,000 tons from a partly-owned Malaysian field, Tran Ngoc Canh, General Director of PetroVietnam said Monday.
An engineer at a Vietsovpetro oil drilling platform, a joint venture between PetroVietnam and Russia’s OAO Zarubezhneft
The 2007 production equates to about 327,000 barrels per day, based on conversion ratios previously given by the oil producer.
“Production at Bach Ho is falling because the field is getting old,’’ said Canh.
PetroVietnam forecast crude oil production this year at 16 million tons, without specifying how much may come from fields outside Vietnam.
In addition to Malaysia, PetroVietnam also has stakes in exploration, or production ventures, in countries including Algeria and Indonesia.
The oil group’s overall sales rose 18 percent to VND213.4 trillion ($13.35 billion), according to the company, which did not give a reason for the increase.
Nhon Trach 1 Industrial Zone in southern Dong Nai province.
Nhan Dan – The Foreign Investment Law was issued on December 29, 1987. It was one of the first laws issued during the renovation period. The promulgation of the Foreign Investment Law has institutionalised the Party and State’s policies in effectively attracting foreign investment capital. It is regarded by the international community to be a transparent, attractive code and basically conforms with the international norms. Within the context of fierce competition in attracting foreign investment regionally and globally, the Foreign Investment Law in Vietnam has been a vital lever in attracting foreign investment to Vietnam.
Since the promulgation of the Foreign Investment Law in 1987, the law has been amended four times in 1990, 1992, 1996 and 2000. The issuance of the law as well as of other legal documents relating to foreign investment has created a legal environment for foreign investment activities in Vietnam.
Thus, though the market mechanism in Vietnam has yet to be perfected, foreign investors in Vietnam can still carry out their investment activities in Vietnam without any big differences compared to other countries.
Importance has not only been attached to perfecting legal environment, during the past 20 years, the business and investment environment and the decentralised administration of foreign investment have received due attention. These efforts have contributed to the encouraging foreign investment activities in Vietnam, affirming the significant position of the foreign-invested sector in national industrialisation and modernisation.
By the end of 2007, Vietnam has attracted over 9,500 FDI projects with a total registered capital of US $98 billion, including additional registered capital.
Excluding expired projects and those that have been dissolved ahead of duration, currently 8,590 projects are still valid with a total registered capital of US $83.1 billion. Total registered capital experiences a trend of increasing from 2003 to date.
In 2003, total registered capital increased by six times compared to 2002. In 2004, the figure was up 42.9% compared to 2003; it was 58% in 2005; 75% in 2006 and 69% in 2007.
From 2001 to 2005, Vietnam attracted a total of US $20.8 billion, up 73% against the targeted figure set at the Resolution 09/2001/NQ-CP.
In 2006 and 2007, foreign investment flow to Vietnam increased remarkably with the registry of many large-scale projects in heavy industry and services.
Foreign investment to heavy industry and construction occupies the biggest proportion, accounting for 66.8% of the total number of projects, 60.2% of the total registered capital and 68.5% of the total implemented capital.
From 1988 to the end of 2007, northern localities attracted 2,220 FDI projects with a total registered capital of US $24 billion, accounting for 26% of the project quantity, 19% of registered capital and 24% of the total implemented capital.
Specifically, Hanoi has attracted half of the total registered investment and implemented capital of the whole northern region, followed by Haiphong, Hai Duong and Quang Ninh.
Southern localities from Ninh Thuan southwards have attracted 5,452 projects with total registered capital of US $46.8 billion and total implemented capital of US $15.7 billion, equivalent to 48% of the total number of projects, 56% of registered capital and 51% of implemented capital.
Foreign investment in the Mekong river delta region was the lowest in the country, accounting for only 3.6% of the total number of FDI projects to the country, 4.4% of total registered capital and 3.2% of total implemented capital.
Quang Nam, Da Nang and Phu Yen are currently topping the localities in the central region in terms of foreign investment attraction, though their rate of attraction is still low compared to their potential.
To date, 80 countries and territories have been investing in Vietnam. As many as 68% of these are from Asia; 16.2% from the EU and 11% from America.
The foreign-invested sector is underlining its significance in Vietnam’s economy and is the sector enjoying the most dynamic growth.
Vietnam’s investment and business environment is improving, thus the country is becoming more attractive to both foreign and domestic investors.
The local company named Quang Trung Software City (QTSC) in southern Ho Chi Minh City and U.S.-invested firm called DOT Vietnam will jointly invest around 10 million dollars in building the 1,000-square meter center which will, once becoming operational in September, offer hosting and backup services to such major clients as government agencies, multinationals, financial groups and banks, said QTSC's chief executive officer Chu Tien Dung.
QTSC, specializing in software production, and provision of facilities and services to software developers in an area of 430,000 square meters in the city, and DOT Vietnam plan to pour around45 million dollars into building two other Internet data centers in Vietnam by 2010, he said.
Of the 18.6 million Internet users, over 5.2 million are subscribers, including roughly 1.3 million broadband ones, it said, noting that the country had total international bandwidth of 12,115 Mbps, and 60,604 websites using Vietnamese domain ".vn" by the end 2007.
Vietnamese enterprises have invested in projects in 35 countries and territories.
There are also big investment projects in oil and gas exploration and exploitation in
In 2007 alone, a project to explore and exploit oil and gas in
As many as 40.2% of the invested projects abroad and 64.2% of the total investment capital has been invested in industrial sector. Vietnamese investors have also paid attention to investing in agricultural sector (accounting for 21% of the projects and 20.5% of investment capital) and services (39.6% of projects and 5.5% of total investment capital).
Initially, some projects have been carried out quite effectively. For example, by investing US $30 million in two projects to explore and exploit oil and gas by the National Oil and Gas Group, PetroVietnam, in
The Investment Law promulgated in 2005 has overcome these weaknesses. In addition, the Resolution 78/2006/ND-CP has also created more favourable conditions for domestic investors in their investment abroad.
According to forecast by the Ministry of Planning and Investment, in the 2006-2010 period, Vietnamese investors will invest a total of US $1 billion abroad. Many projects invested abroad by Vietnamese businesses are in the process of negotiations. These projects are in sectors such as oil and gas in South-East Asia; electricity in Laos and China; mineral exploitation in Laos; communications in Laos, Cambodia, Hong Kong, Singapore, the US; transport in Singapore, Hong Kong and Russia and import and export and retailing in the US, EU, Japan and China.
This has proved that investing abroad has become a new trend for many domestic businesses.
By HAI THU
Petechim – the newly-relaunched subsidiary of the Viet Nam Oil and Gas Group (PetroVietnam) – also reached a deal with Zarubezneft under which the Russian company will supply it with equipment.
Also on January 23, Petechim inaugurated its two new subsidiaries, namely Petechim Oil Trading, engaging in oil and gas import-export and trade, and Petechim Servimex, specialising in equipment and technical service import and export.
The name of Petechim is associated with
“Although Viet Nam has taken measures to effectively use its energy sources, its fossil sources are running out and the nation’s consumption demand will rise by 4.3 times in the next two decades,” K. Kanekiyo, head of the Japan International Cooperation Agency (JICA)’s researchers group on Viet Nam ’s master diagram, elaborated.
He went on to say that coal, oil and gas will be the nation’s major import energy products.
Experts also warned that Viet Nam ’s per-capita electricity consumption against GDP is much higher than that of other regional countries, i.e. Thailand , and nations with the same income level.
To meet the nation’s increasing energy consumption demand, experts suggested the nation have a master plan to conserve, develop and logically utilise gas, crude oil, coal, recycled energy.
The development of an effective and transparent energy market operating in accordance with economic principles in which energy prices are equal to international prices will help make every individual and business to use energy more economically, they noted.
The FINANCIAL -- According to APA-Economics, the
“The Corporation is taking bidding procedures to acquire an oil well in
He added that negotiations are under way.PetroVietnam has so far signed 13 overseas exploration and exploitation projects. PetroVietnam pumped almost 22.7 million tonnes of oil in 2007, 100,000 tonnes of which were tapped in foreign countries. It also exported more than 15.7 million tonnes of oil for $8.8 billion.
HCMC - ACE Life Insurance Co., Ltd. announced yesterday 320% growth in new premiums for 2007 against the previous year. It also announced the interest rate on the cash value for Universal Life products effective from January 1, 2008 at 6.8% per year. The company also has plans to introduce a new variant of the Universal Life product in early 2008 to meet the requirements of special segments of the population.
HCMC - Saigon Thuong Tin Commercial Bank (Sacombank) has opened a new branch at 130-130A-132 Bach Dang Street in the central coast city of Danang. It now has 18 branches and 48 transaction offices in provinces from Quang Binh southward to Ba Ria-Vung Tau, Dau Tu reports.
HANOI - Vietnam Insurance Corp. (Bao Viet) yesterday made its debut as a financial and insurance group, with its operations covering life and non-life insurance, securities investment and banking among others. It has now also officially become a holding firm, owing Bao Viet Vietnam, Bao Viet Life and Bao Viet Fund Management Co., Dau Tu reports.
KHANH HOA - South Korea’s STX VINA has got an investment certificate from the authorities of Van Phong Economic Zone in the central Khanh Hoa Province. The firm will invest US$500 million in a project building oil, container and cargo ships. It is expected to employ 20,000 people, Thanh Nien reports.
QUANG NGAI - Lilama Electrical-Mechanical-Environmental Joint-Stock Co. has decided to invest VND152 billion in an environment project in Dung Quat Economic Zone in the central Quang Ngai Province. It will buy transport means and equipment to treat industrial, household and toxic waste, including from hospitals, Dau Tu reports.
HANOI - Vietnam Technological and Commercial (Techcombank) has reported pre-tax earnings of VND709 billion last year, an increase of 131% on the previous year. Its total assets had doubled to almost VND40 trillion as of the end of last year.
HANOI - Bellavita, the distributor of children products in Vietnam for the Italy-based Artsana, has opened a showroom at the Syrena Tower at 51 Xuan Dieu Street in Hanoi. This is its second showroom, Dau Tu reports.BINH DUONG - Stada-VN, a Vietnamese-German joint venture, has inaugurated a factory that produces pharmaceutical products under the GMP EU standard in the Vietnam-Singapore Industrial Park in HCMC’s neighboring province of Binh Duong, Thanh Nien reports.
High-end cruise liner docked in southern coast
|The Rhapsody liner with some 1,900 people on board berthed Monday at Phu My Port in Ba Ria-Vung Tau Province on the southern coast.|
The liner, which can hold up to 2,500 people, belongs to US-based Royal Caribbean International.
Royal Caribbean International has chosen Hanoi Toserco, a domestic travel company, as a partner to introduce cruise travel to local Vietnamese.
The agency arranged for representatives from some 30 domestic travel agencies to visit the Rhapsody during its brief dock.
The ship left Phu My Port Monday evening for Thailand, and then heads to Hong Kong, Shanghai, and the Republic of Korea before returning to Vietnam next month.
Reported by Mai Vong
|Chess institute to be built in south|
|11:12' 24/01/2008 (GMT+7)|
Minister Nguyen Danh Thai
Minister Nguyen Danh Thai
In a meeting with Deputy Minister of Culture, Sports and Tourism cum Head of the General Department of Sports and Physical Training Nguyen Danh Thai on January 22, the FIDE Secretary General said the total capital needed to build the institute is around US$1 million and FIDE plans to kick off construction after the end of the World Young Chess Tournament held in Vietnam in late 2008.
He said that the People’s Committee of Ba Ria – Vung Tau province has agreed to allocate 5,000sq.m and he hopes that the institute will train many young chess talents, not only for Vietnam but also the rest of the world.
But I got more than I expected when I saw the numerous cherry blossoms gracing the city’s landscape.
In the north, the peach blossoms are now in bloom, a signal to the people of the region that the Tet Lunar New Year is approaching.
While I was looking for those same peach blossoms, I was pleasantly surprised by the flowering cherry trees of Vung Tau.
None of the local residents I met could tell me when the cherry trees had been planted.
They must have been there for decades.
Each year, the cherry blossom season falls near Tet and lasts for almost a month.
Cherry blossoms in Vung Tau differ from those in Japan in shape, but they have the same lovely pink and white col-ors and deliver the fresh feelings of spring.
Along Tran Phu Street, close to Nghinh Phong Cape, little pink buds appear on cherry trees being bent by the ceaseless winds coming from the sea.
For the most poetic scenes of cherry blossoms, wander along the roads near Nui Lon (Big Mountain) and Nui Nho (Small Mountain), the two mountains of Vung Tau.
For the most densely populated area of cherry trees in full bloom, head about 25 kilometers out of Vung Tau to Long Hai.
In Long Hai there is a newly constructed road connecting Vung Tau with Phan Thiet.
This is no doubt one of the most stunning roads of Vietnam, with the sea and beautiful beaches on one side and pines, mountains, and abundant cherry blossoms on the other.
As this road is newly constructed, it is in very good condition and suit-able for all methods of road trans-port, such as bicycles, motorbikes, cars and ox-drawn carriages.
Reported by Thu Giang
Wednesday, January 23, 2008
In 2007, Vinh Long Province granted two new licences to Taiwan’s Bo Hsing Ltd Co and South Korea’s CJ Vina Agri Ltd Co with a total capital of $9.1 million.
Currently, eight FDI firms are operational and the remainders are being built and fitting equipment. — VNS
Delegates worked out a plan for the coming period, aimed at consolidating Vietnamese entrepreneurs in Russia, boosting the economy, tourism, and investment co-operation between Viet Nam and Russia. The association also aims to support Vietnamese entrepreneurs’ legal interests in the Russian market, encourage its members to abide by the country’s laws and increase investment in both Viet Nam and Russia.
Oil and gas services provider moves south
BA RIA-VUNG TAU — Specialised oil and gas industry services provider PTSC Offshore Services Co. Ltd. was formally established in the southern province of Ba Ria-Vung Tau yesterday.
This affiliate of the Petroleum Technical Services Corporation, which actually began operations five months ago, has a charter capital of VND25 billion (US$1.56 million), and will provide installation, operational, and maintenance services and supply technical workers for petroleum-related projects.
Monday, January 21, 2008
HANOI, Jan 21 (Reuters) - Petroleum Technical Services Corp PVS.HN (PTSC), the third-largest firm on the Hanoi exchange, said on Monday it expected a 15.4 percent rise in gross profit to 300 billion dong ($18.6 million) this year.
The subsidiary of state oil group Petrovietnam, in a a statement on its Web site (www.ptsc.com.vn), also forecast revenues would rise 7.3 percent to 6.5 trillion dong this year.
The Ho Chi Minh City-based firm did not give a net profit forecast or comparative figures for 2006.
Shares in PTSC fell 3.28 percent to 94,400 dong on Monday, valuing the firm at $596 million.
It is the third-largest listed firm on the Hanoi exchange after Asia Commercial Bank ACB.HN and Kinh Bac City Development Share Holding Corp KBC.HN.
PTSC offers engineering services for oil and gas exploration, logistics and port services for other oil firms operating in Vietnam.
It owns 20 vessels, including a floating production, storage and offloading vessel. Crude is Vietnam's largest export earner, bringing a record $8.5 billion last year, 2.6 percent higher than 2006 due to high oil prices, according to government data.
The company said last month it had signed a contract to provide maintenance services to the $2.5-billion Dung Quat refinery, scheduled to start operations in the first quarter of 2009. ($1=16,105 dong) (Reporting by Ho Binh Minh; Editing by Darren Schuettler)
Business21 January 2008 02:18PM
By Lilia Guan
Network security vendor, Senetas has signed a non-binding memorandum of understanding (MOU) with Vietnam Information Security Laboratories (VISL), an agency of Vietnam’s Ministry of Defence, to distribute Senetas CypherNet high speed network encryption products.
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Australian-based Senetas designs and manufactures enterprise network security devices, including Layer 2 hardware encryption devices to guarantee data security. The Senetas CypherNet Encryption Security Platform provides a range of secure data encryption products.
Agreement for the partnership was reached following a recent meeting in Hanoi between Senetas CEO John DuBois and Major General Dr Nguyen Quang Bac, Director-General of the Vietnamese Defence Ministry’s Centre for Military Science and Technology.
General Nguyen said Vietnam wanted access to encryption technology for both classic and quantum cryptography.
Acting as a distributor for Senetas technology, the Ministry’s VISL would oversee security arrangements for other government agencies and would re-sell CypherNet to commercial enterprises, initially in banking and finance sectors.
Under the terms of the MOU, Senetas will partner with VISL to provide training, support, implementation, marketing programs and technology transfer for information security products and services for VISL and its customers.
Senetas will also provide, on a fee for service basis, engineering support and development services to VISL engineers on key projects nominated by VISL. Future research and development collaboration could include a purpose-built encryption platform for the Vietnamese Defence Ministry.
Senetas CEO John DuBois said Senetas would assist VISL to establish its own ‘Common Criteria & FIPS’ certification program in Vietnam by providing initial information and training in Australia followed by on-site training in Vietnam. It will also introduce VISL to relevant Australian government and international accredited testing agencies.
Dubois said the appointment of VISL as its reseller for Vietnam, realised Senetas’ goal to ensure it was represented in emerging market economies.
“Since Vietnam embraced its "Doi Moi" economic reform program in 1986 it has enjoyed consistent growth and with its membership of the World Trade Organisation in November 2006, Vietnam is well positioned to become a significant economy in this region,” he said.
Vietnam has traditionally been an agricultural exporter (fisheries products, tea, coffee, cashew nuts, pepper and it is the world’s second largest rice exporter), but other non-agricultural sectors of the economy have increased, including heavy industry and labour-intensive manufactured goods such as clothing and mining.
Over the past two years its economy has grown at more than 8 percent with one of the region’s lowest unemployment rates.
Vietnam Airlines Find Snakes on a Plane
Vietnam Airlines found over a ton of ratsnakes on a flight from
Ratsnakes, Ptyas Mucosus, are a protected species.
The snakes were found in over 60 boxes that came to Noi Bai in
|The Vietnam-China joint working group on the delineation of the sea area off Bac Bo (Tonkin) Gulf held its fourth round of talks in Beijing from January 17-18.|
The two sides exchanged views and reached consensus on a number of issues, creating a basis for further negotiations to define sea territories between the two countries.
Officials of the two countries agreed that the fifth round of talks would be held in Vietnam later this year.
RICKMERS-LINIE GMBH & CIE. KG (HEAD OFFICE)
|RICKMERS-LINIE SHIPS 26 FIRE-FIGHTING TRUCKS TO VIETNAM|
The New Year is only a few weeks old but Rickmers-Linie, the
This ‘red cargo’ consisted of 26 fire trucks that Austrian manufacturer Rosenbauer is shipping to
The booking of this cargo was carried out by the German forwarding agent deugro (Deutschland) Projekt GmbH,
Coincidentally, Rickmers Seoul was the first Rickmers-Linie’s “Round-the-World Pearl String Service” vessel to be handled in Antwerp by DP World Breakbulk since Rickmers-Line joined DP World Antwerp and Conti-Lines as a shareholder in the terminal on 1 January 2008.
Rickmers-Linie GmbH & CIE. KG (Head Office)
Phone: +49 40-38 91 77-200
Fax: +49 40-38 91 77-274
Sunday, January 20, 2008
However, when it comes to exporting scrap materials to the nation of
To advance industrialization and exports,
However, scrap dealers should be aware that
RICH IN RESOURCES
As already stated, Vietnam is rich in mineral resources, possessing some 60 kinds, making it the seventh ranking country in the top 15 of basic resource countries. Among the minerals
Further, the industrial parks of
However, one should be aware that industrialization in
FUELED BY CAPITAL
Capital markets are fueling the momentum of
Major foreign minerals, metals and paper interests that use scrap commodities are already present in
The European scrap export community already knows about the potential of scrap sales in Vietnam, with firms such as ArcelorMittal, based in India, having direct representation on the ground; Alcoa will be present in future bauxite mining. Additionally, the American scrap recycling industry has a major role to play, particularly in ferrous scrap sales for the
The country is hot on metals and minerals, with paper in pursuit. It has established trade associations for commodities like steel, plastic and paper. However, it does not yet have an organized scrap industry association.
Recyclers should approach the current unorganized Vietnamese scrap industry with the knowledge that everyone there is in the business of trading. Also, knowing that
Vietnam Minerals Corp. (VIMICO) started work a year ago on a bauxite complex for export in Lam Dong in central
Good Choice USA-Vietnam Ltd.Co has been recently approved by the Ba Ria- Vung Tau People’s Committee to carry out construction of a tourism park worth nearly US$ 1.3 billion.
The park under the theme “
“This is the biggest foreign-invested tourism project in the province," said Mr Mai Ngoc Thuan, vice director of the province’s Planning and Investment Department.
Aside from the recreation, shopping, exhibition areas, the park will include one five-star hotel of 2,500 rooms and four compounds of five-star hotels with 4,000 rooms.
The total capital of US$ 1.299 billion for the project will be added to the initial US$ 466 million as following:
The authorities of the Central Highlands
Vietnamese Deputy Foreign Minister Dao Viet Trung and his Lao counterpart, Phongsavat Boupha, who is also Head of the Laos Border Committee, were present at the event.
Being aware of its important position in socio-economics, culture, security and defence, the governments of
The Bo Y International Border Gate Economic Zone has to date attracted 34 projects with a total registered investment capital of over VND 19 trillion (over US $1.2 billion). Of which, 11 projects have been zoned off land and four others, capitalised at nearly VND 422 billion (US $26 million), received investment licences.
Friday, January 18, 2008
Vietnam Oil & Gas Corp. may process lower-quality oil from overseas instead of local crude, Dinh La Thang, chairman of PetroVietnam, as the company is known, said today. Vietnamese oil, which fetches premium prices in Asian markets, is more expensive because it contains less pollutants such as sulfur.
Record economic growth is spurring fuel demand, prompting increased purchases of diesel and gasoline from refiners in
Ho Chi Minh City-based PetroVietnam Trading Co., known as Petechim, a unit of state-owned PetroVietnam, may import 1.2 million barrels of crude oil this year for trial runs at the Dung Quat, Lao Dong newspaper reported yesterday, citing Nguyen Xuan Thang, general director at PetroVietnam Trading Co.
Petechim sells a portion of the state oil company's Bach Ho crude variety through long-term contracts at a premium of $6.15 a barrel to the price of Indonesian grade Minas crude oil, a benchmark for medium-gravity, low sulfur crude in
Under the accord signed on Sept. 7 in