[news] Content of VN Investment Review #302

[AnHai Doan <anhai@cs.washington.edu>]

This is a summary of Vietnam Investment Review issue #302, VIR posts summaries
each week and welcomes readers to respond via Ms. Thu Huong at
Virhan@netnam.org.vn
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WORLD BANK HEAD PRAISES LEAP FORWARD
Outgoing WB resident representative Bradley Babson has spoken of the great
achievements Vietnam has made during its ten years of doi moi - but cautioned
that the most important reforms still lie ahead. (Page 1)
400 MILLION FLOCK TO POLLS FOR NATIONS DISPLAY OF DEMOCRACY
More than 40 million Vietnamese voters cast their votes last week to elect the
tenth National Assembly of Vietnam. (Page 1)
MENACE FIRM TIPS TOXIC WASTE INTO SEA
A Taiwanese  chemical company has been illegally dumping thousands of tonnes of
toxic waste into the sea off Vietnams cost, despite international condemnation
and a government ban on the practice which was implemented last year. (Page 3)
NEW HOSPITAL ALMOST READY FOR OPERATIONS
Hanois first international-standard hospital is on course to open its doors by
September this year. (Page 4)
CAR MAKERS HIT HUGE SLUMP
Car sales figures in Vietnam have slumped during the first six months of the
year, due in part to the over saturation of the market and a slowdown in the
countrys economy. (Page 5)
CITY BATTLES RISING TIDE OF FILTHY WATER
Wastewater is drowning parts of HCMC and officials are getting serious about
bailing residents out. (Page 6)
EX-PARTY CHIEF CALLS FOR MEKONG DELTA RETHINK
Poverty caused by  a slump in the price of rice is destroying the lives of many
farmers in the Mekong Delta region, according to Vietnams former Communist
Party Chief, Nguyen Van Linh. (Page 7)
TAKING Vietnam FORWARD INTO A NEW, BRAVE FUTURE
Nguyen Tan Dung, Politburo Standing Member, talked with Reuters in an exclusive
interview about Vietnams future, economy and its march along the socialist
path. (Page 8)
$16 MILLION CLUB UNDER FIRE FOR CHANGE-OVER
The owners of the $16 million Hanoi Club are facing a backlash from members and
governors over the handling of the management change-over. (Page 9)
STRUGGLING FIRMS SOUR BUDGET
Floundering businesses have contributed to the lowest increase of State budget
collection figures for 10 years, according to Pham Van Trong, Vice Minister of
Finance. (Page 10)
SALES GO FLAT AS BREWERY DROWNS IN DEBT
Managers at the loss-making Haiphong Brewery Company are turning to local
lagers after losing their shirts in a $5 million investment in foreign
fermentation that went bitter. (Page 11)
THE GOOD BANKING GUIDE
Foreign banks are common sights on the streets of Vietnam. But where is the
best place to keep your private fortune? Insight answers question with the good
banking guide. (Page 12-13-14)
ITS ALI BABA AND THE HAUGHTY EAVES!
Take a walk around Hanois West Lake and along with new five-star hotels busily
being constructed, a plush members-only sports club and neon lights advertising
everything from beer to bikes and youll notice something out of the ordinary:
Something that owes its existence to one mans dreams of faraway places and the
desire to make his mark on the face of the capital. (Page 15)
LUXURY STORE OPENS DOORS
Top-line designer label Louis Vuitton has opened for business at the Hanoi
Metropole Hotel, offering travel and leisure-related items. (Page 16)
FOREIGN BIG SHOTS TAKE ALL THE CREDIT
Economists have warned that foreign banks will dominate Vietnams credit market
as long as they continue with their policies of attracting successful local
businesses. (Page 17)
GOLF INVESTMENTS STUCK IN THE BUNKER
So far, 10 foreign joint venture golf courses have been licensed, of which
seven have been either partly or totally completed and put into operation.
(Page 21)

Asia News - A summary of the top stories in the Asia Pacific Region from page
23 to page 24.

TIME-OUT is a supplement to the VIR. (32 pages) and here is the summary
of the TimeOut #69.

NEWSMAKER
Czech art in Hanoi; the return of Van Dung Thanh; Tae Kwon Do highlights;
Marine Clubs nautical groove. (Page 4)
JOKERS WILD
Ever danced with the devil in the cold moonlight: Hondas motorbike designers
did when they sold their soul to create The Joker. Timeout takes a look at the
classic Vespas and Lambrettas which inspired the modern pretender (Page 6)
SPORT
Timeouts man in the stands previews the English Premiership soccer season.
(Page 8)
LIFES A BEACH
The rise of beach resort accommodation along Vietnams coastline could bring
with it a more affluent type of tourist. Timeout tests the water at four
top-dollar establishments to bring you a consumers guide to R&R. (Page 9)

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