VN Buss. News (Apr. 11, 1997)

[Vu Thanh Ca <vuca@envi.env.civil.saitama-u.ac.jp>]

Vietnam footwear Corp targets 24 pct rise in exports 
Vietnam targets steel output 2.2 mln tonnes per year 
Vietnam seeks investors for sail production projects 
Vietnam Port City to Sell Five State-Owned Business 
Foreign Trade Fair to Boost Ties Between Hainan and Vietnam 


Vietnam footwear Corp targets 24 pct rise in exports 

Hanoi (VNA) - The Vietnam Leather and Footwear Corporation is striving
to achieve an export turnover of $US186 million in 1997 or an increase
of 24 per cent year-on-year, said the General Director of the
Corporation, Mr Phan Dinh Do.

Mr Do said that enterprises under the corporation are striviing to
gross turnover of VND 818 billion (roughly US$74.5 million) in 1997, a
32 percent year-on-year increase.

To achieve the target, the corporation has to reach a production
growth rate of 24 per cent.

The corporation's total investment in 1997 is estimated to be up by 60
per cent compared to 1996, focussing on the import of advanced
technologies and investment projects for production of shoe materials.

The corporation is planning to expand outlets to the European Union,
the United States, Canada and Japan.
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Vietnam targets steel output 2.2 mln tonnes per year 

Hanoi (VNA) - Vietnam's Ministry of Industry and related agencies are
developing a plan for the steel industry to the year 2010, aiming to
bring total steel production to 2-2.2 million tonnes by the year 2000
and 7-7.5 million tonnes by 2010.

The industry will need US$2.4 billion for the period up to the year
2000, with US$326 million to come for the Vietnam Steel Corporation.

The projects scheduled for the 2001-2010 period will cost some US$4.15
billion, including the exploitation of the Thach Khe iron ore deposit
at 10 million tonnes/year, and the construction of a one million tonne
per year steel rolling mill.

Demand for steel is estimated to increase by an annual average of 20
per cent from now to 2000 and 14-15 per cent until the year 2010. All
the existing steel factories, even at full capacity, can meet only 60
per cent of requirements. In addition, domestic steel cannot compete
with imports due to high production costs.

To correct the current imbalance between steel rolling capacity and
production of steel billets and sheet steel, the plan will concentrate
on intensive investment to raise production and reduce production
costs as well as give priority to foreign investment in production
billets, sheet steel, and other kinds of materials to substitute
imports, in combination with ore mining.

The development plan calls for production of one million tonnes of
steel billets a year, up to 2000, in addition to imports of about 2.1
million tonnes of other kinds of steel.
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Vietnam seeks investors for salt production projects 

Hanoi (VNA) - The Vietnam Salt Corporation (VSC) is seeking investment
to implement two salt production projects at Vinh Hao and Quan The on
Vietnam's central coast.

According to feasibility studies, the Vinh Hao project in Binh Thuan
province will need more than US$20.6 million to be invested in
building a 2000 ha area in order to produce 300,000 tonnes of salt per
year while the Quan The project will require more than US$26.7 million
for the building of a 2,500 ha salt field, with a capacity of 375,000
tonnes a year.

At present, these two fields have produced about 60,000 tonnes of salt
each year. Both have favourable conditions for salt production and
distribution, enjoying as much as eight months of sunshine.

The two areas are located near major north-south land and rail routes
and about 50 km and 70 km from the Ba Ngoi port in Khanh Hoa province,
respectively.
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Vietnam Port City to Sell Five State-Owned Business

Hanoi (VNA) - Five State-owned businesses in the port city of Haiphong
will be privatised in 1997, according to a new decision of the
Haiphong People's Committee.

They are the Haiphong Paper Company, the Minh Due Chemicals Company,
the Song Cam Cosmetics Company, the Auto Transport company and the
Electric Materials Company.

Privatisation will be undertaken by either selling part of the
targeted business to share holders or privatising (issuing shares) for
a part of the target business.

The Haiphong Paper company will be the first business to be put up for
privatisation.
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Foreign Trade Fair to Boost Ties Between Hainan and Vietnam 

HAIKOU (Xinhua News) - A foreign trade fair aimed at enhancing
economic ties between China's island province of Hainan and Vietnam
has ended recently, generating a total of one billion yuan-worth of
contracts.

The fair was held in Zhanzhou, attended by about 800 businessmen from
Vietnam, New Zealand, Thailand, Macao, Hong Kong and the Chinese
inland provinces.

Chinese businessmen signed contracts with Vietnam counterparts to
import and export steel, rubber, cement, and natural silk, at a
combined value of more than one billion yuan.

Hainan started border trade with Vietnam in 1993. The total bilateral
trade reached 560 million yuan last year, and the figure is expected
to hit one billion yuan this year.