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VN/news-VET-081699
Monday, Aug 16, 1999
11,000 Vietnamese working in RoK
(VET)- VNS reported that the exchange of workers between
the two countries have so
far reached 100,000 figures, in which 80,000 Vietnamese
staff and workers are working
in the Korean invested projects in Vietnam; 60,000 of
them working in the Korean
companies in HCMC and other southern provinces. And
11,000 Vietnamese working in
RoK.
US$500 spent by each foreign tourist in VN on average
(VET)- Tuoi Tre (Youth Newspaper) quoted the figures
from the General Department of
Tourism statistics to show that each foreign tourist
spends an average of US$500 for all
services and purchases in Vietnam, which is below the
world average of US $700, and far
below Thailand and Malaysia with US US$1,000 and US$800
respectively. Many
shortcomings within Vietnam's tourist services,
especially the low quality of Vietnamese
tourist products, including their short stay in Vietnam
are cited as the main reasons for
their low expenses.
US$900 million worth of garment exports
(VET)- Vietnam^Òs garment exports in the first 7 months
have risen 7.6 percent over the
same period last year to US$ 900 million. According to
the Ministry of Trade the garment
exports in 1999 are expected to reach US$ 1.55 billion
or up 18 percent over that of
1998.
Feasibility study for Dai Thi hydro power project
approved
(VET)- According to the Vietnam Electricity Corporation
EVN the pre-feasibility study for
Dai Thi power project with a capacity of 300 MW costing
around VND 5,970 billion has
been approved by the Prime Minister. The proposed
project will be located on Gam River,
Vinh yen village of Na Hang district, Tuyen Quang
province in northern Vietnam.
100 SOEs to be audited
(VET)- The PM has in principle approved with the
proposal from the Ministry of Finance
that 100 State-owned enterprises be audited under the
Japanese Government's
Miyazawa program. Under the Prime Minister's directive
No 2051/VPCP - QHQT dated
June 3,1999; before auditing the enterprises, the
ministry is required to co-operate with
relevant branches and localities to carry out the action
plan to audit the 100 State-owned
enterprises.
Assets management company AMC to be set up
(VET)- The PM has issued Official Letter No835/CP-KTTH
dated August 11, 1999 to
assign the State Bank of Vietnam to collaborate with the
Ministries of Finance, MPI,
Justice, Trade, the Government Pricing Committee and the
Government Office to
establish an inter-governmental board to work out a
project for establishing a company -
known as the assets management company (AMC). AMC is
aimed at buying and selling
the stored Mortgaged Assets of credit organizations, as
well as legal assignments
concerning the company. The proposed AMC is expected to
submit to the PM for
consideration in September 1999.
Bidding for construction of Cai Lan port opened
(VET)- Vietnam Maritime Department has opened the
bidding for the construction of Cai
Lan port with the presence of the representatives from
the Government Office, Ministries
of Transport and MPI and Quang Ninh authority. This is
the bidding package No1 for the
first phase of the Cai Lan port worth US$ 60 million.
Participants in the bidding were 6
Japanese contractors in JV with a number of Vietnamese
companies and 4 Korean
contractors. The Vietnam Maritime Corporation disclosed
that three participants with the
lowest values of the bidding included Hyundai of Korea,
Fujita and Penta- Ocean of Japan.
The bidding board is expected to announce the result of
the bidding soon.
Sulexco announces the hiring of workers for Taiwan
(VET)- The Expert and Labor Export Service Company in
HCMC or Sulexco is reported to
have announced its decision last Thursday to hire
contract workers to work in Taiwan in
the construction industry, heavy industry, electronics
and house keeping. Sulexco is one
of Vietnam' s 15 agencies authorized to hire labor for
Taiwan. The minimum wage in
Taiwan is around US$ 510/ month.
None refundable aid of 200 Dream II bikes
(VET)- Recently Nighikon Misty company of Japan has
decided to grant a none refundable
aid of 200 motorbikes of Dream II (100 percent brand
new) to the Vietnam^Òs Education
Extension Association. This aid is designed to create
fund for the Association to encourage
talented students. The Prime Minister has entrusted the
Ministry of Finance to receive the
aid and to hold the selling auction of these 200 bikes;
and money from the sales will be
kept as the fund for the Association and managed as an
NGO^Òs aid.
2.92 telephones for every 100 citizens in Vietnam
(VET)- According to Vietnam Postal General Department in
the first 7 months of the year
the Vietnam postal industry has installed 245,654
telephones nationwide, accounting for
55.71 percent of the year target. At present Vietnam has
2,231,684 telephone
subscribers, in which 169,527 subscribers belong to
Mobilphone; 85,609 subscribers to
Vinaphone; and 44,335 pagers; it means that Vietnam
currently has 2.92 telephones for
every 100 people. Besides Vietnam has 31,796 Internet
subscribers, in which Vietnam
Postal and Telecommunication Corporation has nearly
20,000 subscribers, FPT 9,040;
Netnam 1,627 and SPT 1,254 subscribers.
One more company to sell shares to foreign investors
(VET)- Southern Container Company attached to the
Vietnam Maritime Corporation has
sold off its shares and completed the procedures for the
transfer into a joint stock
company. The legal capital of the company is VND 30
billion, in which the corporation
holds 30 percent of the stakes, the company's staff and
workers 55 percent and one
Taiwanese company has bought 10 percent of the company's
shares. This is the first SOE
to sell shares to foreign investors, since the
government Decree 145/CP dated June 28,
1999 on the sales of shares to foreign investors.
US$35 million for Hanoi^Ò s infrastructure development
(VET)- Hanoi has raised from its citizen's VND 500
billion -or equivalent to over US$35
million for its infrastructure development and
additional hundreds of billions for community
development projects. 20 primary schools, 53 secondary
schools - both private and
state and people-funded, 118 private kindergartens,
1,015 home nurseries and about
1,000 private clinics equipped with modern facilities
and 600,000 sq.m of houses have
been built from this capital source.
Business Beat (quoted from VNS)
1. Vietnam's exports to Laos soared during the first
seven months of this year, reaching
almost US$100 million. Official statistics show that
Laos imported 9,000 tons of peanuts,
5,500 tons of garlic and 2,935 tons of pepper from
Vietnam to June 30. The Government
agreed to allow export companies to engage in barter
trade with Laos earlier this year.
Among the rewards offered for satisfactory export
performances were import quotas for
motorbike parts. As a result, exporters have been able
to import 85,000 motorcycle
components for assembly. This, in turn, is causing huge
headaches for domestic
motorcycle makers. Last week, the Hanoi police announced
that they had arrested four
people for fraud. The accused allegedly bought motorbike
import quotas for $180 each
from barter traders. Before their arrest, they were able
to import 500 motorbikes and sell
them through 16 outlets throughout the country. The
buyers have now been told to
return the bikes. The Government has also agreed to a
Trade Ministry proposal to allow
barter trade with Belorussia. Domestic traders will
export instant noodles, nuts, canned
fruit, garment, handicrafts and tires. They will be paid
in Minsk motorcycle parts. Minsk
bikes are very popular in the highlands because of their
ruggedness. Traders can engage
in this type of trade until the end of the year.
2. Vietnamese who have married non-Vietnamese have
suddenly been told that they
cannot sell their own houses. According to Vietnam's
Marriage Law, assets - including
houses accumulated after marriage-are deemed to belong
to husband and wife. But other
rules governing non-Vietnamese with permanent
residential status say that they cannot
own houses. If a Vietnamese marries an expatriate and
they buy a house in the name of
the Vietnamese, they may find it difficult to sell. The
sale of a house requires the consent
of both husband and wife but in Vietnam, the
non-Vietnamese spouse cannot sign the
sales contract because legally they are not entitled to
own it. HCM City's Justice
Department is asking the Justice Ministry for
clarification.
3. The Government has ordered the Information and
Culture Ministry to withdraw its new
Circular 85 supposedly explaining the rules for
advertising. The Circular, issued by the
ministry last month, had created much confusion among
advertisers, advertising
companies and the media. Among its stipulations is a
requirement that advertisers apply
for permits each time they want to advertise although
the Government Decree it was
supposed to clarity upholds the right to advertise
services and products. The Circular also
limits the space and time that newspapers and TV
stations can use for advertising. The
Government had entrusted the job of writing the
advertising and promotion circular to the
Trade Ministry in consultation with the Ministry of
Information and Culture. The Trade
Ministry has been accused of not doing the job quickly
enough.
4. Parents-determined to have their children go to the
neighborhood's best school started
queing outside the Trung Vuong Primary School in HCM
City at 8pm so as to enroll their
children early the next morning. Sensing the chance to
get the job done quickly and early,
school officials started accepting applications at 10pm.
Parents who arrived at 4am the
next morning could not understand it when told that all
vacancies were filled. This is an
extreme example of the feverish race among parents to
select the school of their choice
for their children. It is normal for parents to pay huge
amounts for the school's building
programme or into scholarship funds in return for a
place for their child.
Aid still flows to two flood-stricken provinces
(VNS)- Authorities from various localities and agencies
are still pumping aid into the
flood-battered southern provinces of Binh Thuan and Dong
Nai.
FULL TEXT
Brave Vietnam sunk by long-range goals
(VNS)- Two long-range goals sank a brave Vietnam
Football team's effort to win the SEA
Games gold medal from archival Thailand in Brunei last
Saturday.
FULL TEXT
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