VET: First private hospital to be inaugurated early next month

[Dao Van <daotb@yahoo.com>]

Wednesday, October 27, 1999 Ford Laser to make debut soon

(VET)- The Prime Minister has agreed
with MPI^Ò s proposal that Ford Vietnam be given green light to assemble
and sell Ford laser in Vietnam.  Vietnam Registration Board is reported
to have informed Ford Vietnam on the issues related to the procedures
for the registration of quality of Ford Laser.  And Ford Vietnam expects
to sell a Ford Laser for US$ 24,550. 



Tea exports earn US$ 23 million

(VET)- Vietnam Tea Corporation or known
as Vinatea has exported about 14,000 tons of tea in the first 10 months
of the year, earning US$ 23 million, or US$ 3 million lower than the
same period last year due to the price decline in the world market. 



JV for high buildings to lease between Petrovietnam and Singapore

(VET)- Green light has been given to
Petrovietnam to set up a joint venture with Fels-Ses International Pte
Ltd of Singapore to build high buildings in Vung Tau to lease. 

The total capital of the JV is US$ 22,162,260, US$ 7.8 million of which
serve as legal capital.  The Vietnamese partner holds 24 percent of the
legal capital in terms of the land use rights of 4,598 square meters. 
The JV has the life of 40 years; and during the operation of the JV
Petrovietnam is authorized to buy the legal capital from the foreign
partner in order to increase its capital. 



VN's exports up 18 percent in 10 months

(VET)- According to the General
Statistical Office (GSO) reported 18 percent increase in export values
during the first ten months of the year compared to the same period last
year to US$9.13 billion,

Main export items were crude oil with 12 million tons or an increase of
25.8 percent; rice with over 4 million tons or a 22.2 per cent increase;
the coal industry, up 6.5 percent to 2.7 million tons; and the coffee up
9 per cent to 319,000 tons; garment and textile with an increased of
14.6 percent to US $ 1.41 billion, footwear with $1.1 billion, up 33
percent, and sea-products with US$769 million, or up 8 percent. 

While import values fell by 3.6 per cent over last year, import
surpluses during the ten-month period hit $39 million, $16 million
higher, and making up a 42 percent of the total export value. 



No import PVC resin surcharge proposed

(VET)- SGT reported that HCMC Vice
Chairman Tran Ngoc Con has signed a letter to the Prime Minister
suggesting that the surcharge on imports of PVC resin be removed.  In
June this year, when the world PVC resin price was low, the Government
raised the surcharge from 3 percent to 10 percent to protect the
country's only PVC producer, Mitsui Vina. 

However, according to the HCMC Plastics Association, PVC resin has now
climbed to US$820/ton in the world market, causing many difficulties for
PVC resin subcontractors in Vietnam.  The association has also proposed
the Government do away with the surcharge. 



Enterprises to be audited for listing in HCMC transaction center

(VET)- An official with the State
Securities Commission (SSC) said his commission has asked the
Government^Òs permission for foreign companies based in the country to
audit enterprises that plan to list on the upcoming stock transaction
centers in HCMC and Hanoi.  He added that the Commission was also
considering selecting one of the country's four State-run-banks
-Vietcombank, Vietincombank, Vietindebank and VBA to provide securities
custody and settlement services; he affirmed the commission would not
cap the number of entities that would participate in the audit of local
enterprises eligible to list.  . Vietcombank and Vietindebank have
expressed a desire to take this opportunity.  However, the commission
has said it will consult with the central bank before announcing the
selected auditors next month. 



First private hospital to be inaugurated early next month

(VET)- Dr. Nguyen Huu Tung, director of
HCMC's first private hospital, Hoan My, was quoted by SGT as saying that
his hospital was scheduled to open at the beginning of next month at 124
Tran Quoc Thao Street in District 3,

The hospital has 30-beds worth about VND15 billion, VND 12 billion of
which were spent on equipment, including three operating rooms and a CT
scanner and endoscope and cardiographs.  SGT quoted Dau Van Binh, an
expert from the Ministry of Health, as saying that his ministry had
agreed in principle to the establishment of two more private hospitals
in HCMC - Van Hanh and Phu Tho. 

Applications for establishment of a number of private hospital projects
in HCMC are currently awaiting the Ministry of Health^Òs approval. 



Fosters Vietnam looks to expand its Asian presence

(VNS)- Brewer Foster's Vietnam, says it
plans to expand in Vietnam and boost exports to the wider Asian market. 
Geoff Sloane, deputy generaI director of Foster's Tien Giang Ltd., said
the brewers had boosted product quality to international standard.  "
Foster's is focusing on developing brewing technology, increasing its
quality control and introducing new procedures in its two breweries
here." he said. 

Foster's bought the breweries in the Mekong province of Tien Giang's My
Tho Township and in Da Nang with total annual capacity of 90 million
litters, from the French-invested brewery BGI in September 1997. 
Foster's Tien Giang and Da Nang are 100 percent foreign-owned companies
established and registered in Vietnam. 

Foster's has added to its existing brands in Vietnam, including BGI,
Larue, Flag and the Youki soft drink and has been selling Foster's
Lager, its flagship beer in HCM City since last year.  Now, while
maintaining exports to the US market, the company is seeking new ones in
Asian countries.  It has shipped three containers of Beer 333 to the US
in the last four months and will export a container of Fosters beer to
Singapore this week, its first export batch in the Asia. 



Work on VN section of trans-Asia highway may be delayed

(SGT)- The construction of the Vietnam
section of the trans-Asia Highway, scheduled to get underway late this
month, is likely to be delayed.  By yesterday, the Asian Development
Bank, which has signed an agreement with Vietnam to finance the work,
had not announced the date when the agreement will take effect.  The
delay by the bank has resulted from some problems relating to the
section from the Vietnam border to Phnom Penh Cambodia. 

According to a Ministry of Communications and Transport official, the
bank has said it will announce by the end of this month when the
agreement will take effect.  He added that the bank had announced its
approval of the results of the tenders for the Vietnam section.  The ADB
has signed to provide US$ 100 million for the Vietnam stage, estimated
to cost US$147.77million. 

Excluding these expenses, the work will cost VND 597.67 billion (US$43
million), according to the tender results.  A consortium comprising Anam
and Youone of South Korea and Vietnam's Cienco 8 will build the road,
while the local consortium of Cienco 5, Cienco 6 and Cienco 8 will
undertake the bridge construction. 



Vietnam invited to joint Bangkok Accord

(SGT)- The Economic and Social
Commission for Asia and the Pacific (ESCAP) and Vietnam's International
Economic Cooperation Committee have organized a seminar on the Bangkok
Accord in Hanoi as one of the commission's initial efforts to invite
Vietnam to join the trade promotion agreement. 

Ravi Sawhney, head of economic and trade cooperation of ESCAP, said at
the seminar that countries joining the accord had agreed to discuss in
the upcoming third round of talks measures to cut non tariff barriers
and expand the list of goods subject to tax incentives.  Talks on
services would also be up for discussion then. 

He said joining the agreement would help Vietnam increase exports to the
accord's member countries, especially South Korea and China.  These
countries have great demands for coal, coffee, natural rubber and tea. 
Talking with the Daily yesterday, Deputy Minister of Trade Tran Duc Minh
said Vietnam was considering details of the accord to decide whether to
join it or not. 



More ODA should be directed to heavy industry

(SGT)- The Government should channel
more official development assistance (ODA) into metallurgy, mining,
basic chemicals and mechanical engineering, according to Hoang Van Loan,
head of planning and investment at the Ministry of Industry.  Loan said
these industries were important to the economy, but required long-term
investment to generate profits.  This meant that high-interest
short-term loans were entirely inappropriate, he added. 


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Rules on credit cards issued

(SGT)- The central announced the first
rule on the issuing of credit and debit cards by banks.  Under the new
rules, effective from November 1, banks should prove to the central bank
that they have "qualified staff, proper equipment and efficient card
issuance to supply the cards. 

Those wanting to offer internationally recognized card must be a member
of the International Cards Association.  To date just two banks the
State-owned Bank for Foreign Trade of Vietnam (Vietcombank) and the Asia
Commercial Bank have provided credit cards. 

The central bank has also issued a new rule on the issuance of central
bank debentures, which is seen as an important legal corridor for the
establishment of an open market.  State Bank debentures can be traded
exchanged between credit institutions, and used as a tool of the open
market, according to the rule, which took effect on Saturday. 



Vietnam and UAE to boost commercial and investment ties

(VNS)- Deputy Prime Minister Nguyen
Cong Tan told his UAE counterpart at an official meeting in Dubai,
during his three-day official visit to the UAE, which ended Monday. 


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VN exporters have problems with foreign buyers

(VNS)- The following are views from the
coffee industry at a recent workshop on standardization needs for global
integration held by the Ministry of Science, Technology and Environment
jointly with the Directorate for Standards and Quality. 


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Australia trains doctor and equips hospitals

(VNS)- Some 50 Vietnamese doctors
received certificates last week after finishing a post-graduate training
course, in endocrinology and oncology taught by four visiting Australian
professors of medicine. 

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