среда, 30 июня 2010 г.

SOCIETY IN BRIEF 30/6

Hot weather to blame for forest fire; Six die, dozens hurt on Thu Duc roads; Companies taken off pollution blacklist; Biodiversity can help Mekong Delta; Untreated waste water discharged illegally


Hot weather to blame for forest fire

Two forest fires occurred in central Nghe An Province’s Quynh Tan and Hung Yen Nam communes on Thursday. The fires destroyed nearly 100ha of forest.

Hot weather and strong winds exacerbated the fires.

Police, forest officials and local residents battled the blaze for nine hours before it was brought under control.

More hot weather is forecasted for the northern and central regions during the next few days.

According to the National Hydro Meteorological Forecast Centre, temperatures are expected to exceed 38 degrees Celsius.

Six die, dozens hurt on Thu Duc roads

Traffic accidents in Thu Duc District in HCM City have caused six deaths and dozens of injuries over the past 10 days.

One of the main reasons for the accidents was the interlacing road system in the district, said Tran Van Dung, head of the district’s Traffic Safety Committee.

There were also a high number of vehicles travelling on national highways 13, 1K, 1A and towards Ha Noi everyday, which added to the problems, Dung said.

Another reason was that many industrial parks were located on the way from the district to southern Binh Duong Province, so at rush hours, the roads were always crowded with people and vehicles, he said.

Together with raising the public’s awareness, the committee would also recommend traffic police strictly fine those breaking the law.

Nguyen Thi Nau, a resident in Binh Chieu Ward, said illegal motorcycle races, which had been happening on weekends for years,were endangering other drivers.

Vo Van Van, deputy head of HCM City’s Road Traffic Police, said that a month after the implementation of Government Decree No 34 which took effect on May 20, violations in the inner city had been reduced sharply, partly thanks to steeper fines. But on the outskirtsof the city, people still violated traffic rules.

About 90 traffic accidents occurred killing 75 people and injuring 30 others during the past month since the application of the decree, 13 cases more than last month in the city, Van said.

City police had also fined 500 pedestrians who violated traffic rules, he said.

Companies taken off pollution blacklist

Ninety-five of 125 companies have conformed to environmental regulations after being on a black list since 2008, according to the southern Dong Nai Province’s Department of Natural Resources and Environment.

Two of the companies, Dong Nai Battery and Bien Hoa Steel Joint-Stock Co, have built wastewater and waste gaseous treatment systems that are linked with treatment plants in localindustrial parks.

The department said regular inspections had been conducted from the beginning of this year. A total of 197 companies will be inspected by the end of the year.

The province will also offer loans with preferential interest rates to help companies build wastewater and waste gaseous treatment systems.

Nineteen out of 21 industrial parks have wastewater treatment factories, except for two industrial parks Ong Teo and Thanh Phu.

Construction has been slow because of plodding site clearance, according to the department.

Biodiversity can help Mekong Delta

International climate change scientists met with (Cuu Long) Mekong Delta local experts and communities to discuss measures to cope with climate impacts at Kien Giang Province’s Rach Gia city yesterday.

Speaking at the Forum “Biodiversity and Climate Change at Mekong Delta”, Dr Geoffrey Blate, Climate Change Coordinator of WWF’s Greater Mekong Programme, said it’s high time the area sought proper solutions to preserve the region’sbiodiversity and to cope with other negative impacts of global warming.

About 130 delegates from the Kien Giang Province Committee, National Committee and WWF participated in the forum aiming to raise people’s awareness about the value ofbiodiversity and ecology in coping with global warming in the region.

The climate change forum also discussed the significant roles of Biosphere Reserve Zones.

Nguyen Hoang Tri, general secretary of the National Committee of Programme on Viet Nam People and Biosphere, said Kien Giang Province will introduce the World Biosphere Reserve Zone this week, making it oneof the world’s biggest biosphere zones with a range of tropical eco-systems.

Global warming has been proven worldwide to have negative impacts on biodiversity, especially in the Mekong Delta, experts have warned.

The Mekong Delta is the hub of biodiversity in the Asia Pacific, known for the large number of endangered species in recent years and 1,000 new species discovered during the last decade.

The Biosphere Reserve Zone would be an effective measure to cope with the climate change by conserving biodiversity as well as cultural and traditional values, Tri of the National Committee of the Programme on Viet Nam People and Biosphere, noted.

Specific measures to ensure biodiversity in coping with climate change in the Delta will be presented at an international seminar on Biodiversity and Climate Change today in R?ch Giá city.

The United Nation has chosen this year as the year of Sustainable Development and Biodiversity.

Untreated waste water discharged illegally

Factories in the Hoa Binh Industrial Zone in the Central Highland province of Kon Tum were discovered discharging untreated waste water into the environment.

The director of the zone’s Infrastructure Investment Development Company has admitted that a waste water treatment system was not built for the zone.

Local residents have complained to relevant authorities numerous times but the problem is ongoing.

Priority call for coastal forest planting to prevent flooding

Deputy Prime Minister Nguyen Sinh Hung yesterday urged localities to complete protective forest plantations along coastal areas within three years.

Hung was speaking at a two-day conference to review steps to protect and upgrade the sea-dyke system from northern Quang Ninh Province to central Quang Nam Province.

The programme, approved by the Government and backed by investment of VND10 trillion ($526 billion), was supposed to have been completed by this year.

It aims to prevent flooding, including that caused by rises in sea levels, loss of life and property.

To hasten progress, Hung asked ministries and local authorities to promptly plan areas for plantation.

Statistics from the Ministry of Agriculture and Rural Development show that more than 270km of dyke along the coastal areas have been upgraded, 42 drainage systems built and improved and 132ha of protective forest planted after five years of implementation.

Agriculture Minister Cao Duc Phat said important dykes in Hai Phong City, Hau Loc in Thanh Hoa Province and Ninh Binh Province had been consolidated.

He said protective forests had been planted along the Hai Phong and Thanh Hoa sea dykes.

Hai Phong City Department of Agriculture and Rural Development has reported that 3,000ha of plants have been planted and 16.3km of dykes concreted.

This amounts to 16 per cent of the 104km long dyke system around the coastal city.

Vice chairman of central Nghe An Province People’s Committee Nguyen Dinh Chi said six projects had already been completed and seven more wereon the way at a cost of $270 billion.

However, Hung said the achievements lagged behind schedule. Only 20 per cent of the total dykes were reported to have been upgraded, while more than 1,400km of dykes were in need of consolidation.

Many parts of the protective system were left untreated.

Capital invested so far is said to have reached only VND3 trillion ($157 billion), or 35 per cent of the target figure. At the present rate, it is estimated that it will take another 10 years to complete the programme.

Phat said his ministry would re-examine the dyke system to work out ways of combing dykes and roads.

Irrigation network leads to increase in farm production

Development of a proper irrigation network has helped farmers in the central province of Binh Thuan significantly expand farmlands and grow more crops.

Binh Thuan is one of the country’s driest localities with annual rainfall of 1,024 millimetres, just half the southern region’s average.

Districts in the north, including Bac Binh and Ham Thuan Bac, are the driest, while the south often gets heavy rains and floods.

To create a balance between the two regions, the province has actively developed an irrigation network.

Between 1985 and 2000, it built dozens of reservoirs, dams, and pumping stations that now irrigate 40 per cent of the province’s paddies. But they did not completely resolve the water scarcity problem.

Provincial authorities were determined to further expand the irrigation network by building new canals between the south and north.

In November 2006 the Binh Thuan Irrigation Work Exploitation Company built a nine-kilometre canal to bring water from the Luy River in the south to the Ca Giay reservoir in Bac Binh.

This now waters nearly 5,000 ha of rice fields in the district, ensuring production of winter-spring rice.

The next new irrigation work was the 33-km Chau Ta-812 canal, which carries water from the Song Quao lake to Bac Binh and Ham Thuan Bac, irrigating 4,500 ha.

According to the Binh Thuan Irrigation Branch, 80,000 ha of the province’s cultivable lands are now irrigated, up 54 per cent since 2005.

Bac Binh, the province’s driest spot, benefits most from these irrigation works.

The office said though total spending on the Ca Giay canal was just VND20 billion (US$1.05 million), it helps farmers in Bac Binh make a profit of VND1 million per ha per crop. The district makes a combined profit of VND100 billion.

Thanks to Chau Ta-812, farmers in Ham Thuan Bac have been able to increase their income by VND45 billion from the winter-spring rice crop.

More importantly, the office said, the development of the irrigation network has helped the province create an area growing high-value fruits like dragon fruit and green grape.

In addition to supplying water for farming and domestic use, the irrigation network has also created many kilometres of waterways and rural pathways linking localities, it said.

Pork becomes more popular

Viet Nam will increase its pig herds to 33.2 million from the present 8 million or so head by 2013, despite the ongoing epidemics, said Nguyen Thanh Son, deputy director of the Husbandry Department.

Son, attending a three-day national conference on domestic pig raising in Hai Phong, said that Viet Nam would boost the production of pork from the current 1 million tonnes to 3.9 million tonnes to serve the increasing demands of the country’s estimated 90 million people.

To achieve the plan, Son said the husbandry department should establish breeding farms in the Song Hong (Red River) Delta region and areas in the central Viet Nam.

He said pig raising was a traditional and important activity for Vietnamese farmers, who raised 75 to 81 per cent of the pork needed to serve domestic needs.

However, pig epidemics have caused losses in recent years. In late March, an outbreak of blue eared pig disease forced the culling of 100,000 pigs and left hundreds of thousands of local pork unsold.

Department data shows that there are between 130 to 140 large-scale breeding centres in the country with more than 300,000 of the country’s total 4.17 million sows.

Data also showed a sharp rise in the number of slaughterhouses in recent years, but that most of them use out-of-date technology. Among the total 970 houses in the nation, only 35 are equipped with modern equipment.

Better connections to breeding farms would help the modern slaughterhouses take full advantage of their potential, said Son.

Mai Huy Tan, general director of the Duc Viet Joint Stock Company, said it was necessary to clarify the responsibilities and tasks at every step of the husbandry process, from raising, processing, transportation and distribution.

He also said husbandry officials should provide more training to local farmers and force them to use modern pork production processes, including following the raising and slaughtering standards for clean and safe products.

Santanu K Bandyopadhyay, Senior Technical Co-ordinator of the UN Food and Agriculture Organisation (FAO), said many countries have been successful in controlling cattle epidemics because they have made the choice to prioritise supervision of the husbandry sector and manage trade.

Bandyopadhyay said FAO was ready to help Viet Nam with urgent and long-term support.

He said Viet Nam must increase its herds to meet increasing demand for clean pork in the next five years. He added that its farmers must not only increase the number of pigs they raise, but also the quality in which they raise them.

Bandyopadhyay said the pig farms, especially the small scale ones, should strengthen their hygiene practices such as washing their hands before feeding the pigs and separating pig and poultry raising areas.

PV

понедельник, 28 июня 2010 г.

Boy preference lingers, alarming imbalance in central Vietnam

Population and family planning agencies caution residents about the imbalance of female/male babies in the central region, but the preference for boys persists.

In Quang Ngai province, for 100 newborn girls, there were 124 newborn boys. Nguyen Van Quang, vice-head of Quang Ngai Population and Family Planning Bureau, admitted that the province’s ratio of female/male newborns is at an alarming level, higher than the country’s average (100/110).

Provincial authorities made a random survey of some villages in six districts of Quang Ngai. By early June 2010, there were 2974 male and 2382 female babies. Theprovince’s Population and Family Planning Bureau has decided to develop a project to reduce this imbalance in 70 communes and wards in six districts.

Luong Dinh Hai, vice-chief of Quang Nam’s Population and Family Planning Bureau, pointed out that Quang Nam is among 31 provinces and cities where the imbalance of female/male newborn babies is higher than Vietnam’s average, presently at 100/116. Hai added that the imbalance is very high in six districts.

This year the Health Ministry is supporting a Quang Nam project to restrict the imbalance in 74 communes, wards and towns in 9 districts.

Health experts maintain that this serious imbalance is the result of persisting male chauvinism and sci-tech advances that enable parents to decide on whether or not to keep a fetus based on its sex.

Experts said that if the situation does not improve, in about 20 years, one of four men in central Vietnam will be unable to get married.

PV

воскресенье, 27 июня 2010 г.

Nguyen Thuy Dung and her impressive return

The women’s singles final of the Roy Emerson Adoption Guild Tennis Classic in California wrapped up on June 7 with an impressive win of Vietnam’s top female tennis player Nguyen Thuy Dung.


LookAtVietnam - The women’s singles final of the Roy Emerson Adoption Guild Tennis Classic in California wrapped up on June 7 with an impressive win of Vietnam’s top female tennis player Nguyen Thuy Dung.

Tennis star studying in US

Hanoian woman wins nation’s first US tennis title

Dung easily defeated Filipino Diannes Matias, her old acquaintance at the Southeast Asian Games 6-2 in the first set. Matias proved herself as an experienced player with a 7-6 win in the second set. However, the 23 year-old Vietnamese player won 6-3 in the crucial set.

It is the first time a Vietnamese woman has secured a US Tennis Association title. And it also marked an impressive comeback of Thuy Dung after an injury in China earlier this year.

The 1987-born girl often went to the tennis court with her father. With the support from her family, Dung started to practise tennis.

In 2001, Dung won her first title at the Capital City’s Junior Championship. And only two years later, she won a berth in the national team. Together with Mai Huynh, Kim Loi and Nhu Quynh, Dung snatched a bronze at the 22nd Southeast Asian (SEA) Games. In 2004, Dung added a gold and a silver to her medal collection at the U18 WTA’s women’s doubles and singles events respectively.

In 2008, Dung became the first Vietnamese female player to reach the semi-finals of a professional tournament – the ITF Women’s Circuit held in Thailand. Thuy Dung at that time officially replaced Huynh Mai Huynh as the No. 1 Vietnamese tennis female player.

Unfortunately, while having been at the peak of her career, Dung suffered an injury during the WTA Championship held in China which made her miss almost all of the tournaments in 2009. Consequently, Dung faced a series of losses when she came back but eventually her efforts paid off with a victory over Matias.

Dung always gets the support from her parents though they are not sport people. She has been training in Florida with Roger Federer’s former coach after a two-year spell in Thailand. Her parents have always believed that tennis is her right choice. And their beloved daughter has harvested outstanding achievements both at home and abroad, notably the Roy Emerson Adoption Guild Tennis Classicin California.

Source: Nhan Dan

Fishermen join forces for safety

Fisherman Nguyen Huy Hoang and thirty of his fellow fishermen escaped death from Typhoon Ketsana last year in Cam Nhuong commune in the central province of Ha Tinh.

Five vessels from the commune learned an important lesson on co-operation when they were caught in the storm 40 nautical miles offshore last September. The vessels were part of a fleet set up by the commune’s People’s Committee,

“This fleet was one of the province’s first four co-ordinated fishing fleets,” said People’s Committee vice chairman Tran Hai Duong. “The co-operative model aimed to offerfishermen chances to share experiences and closely support each other.”

It was unprecedented since, traditionally, fishermen only fished in family groups, Binh said.

“Now, when the boats go further and further out for deep-sea fishing, people are aware of danger and the effectiveness of co-operation,” he added.

The owner of one of the boats in the fleet, Lai The Son, said that the fishermen sometimes missed weather forecasts or warnings on the radio because they were too busy fishing, so timely warnings from other boats were really useful.

“Sharing fishing grounds doesn’t mean that the boat will catch less fish because Ha Tinh’s fishing grounds are big enough for all of us,” Son added. “Many fishing boats from Nghe An, Quang Binh, Thanh Hoa and other provinces also come to catch fish here.”

Before embarking, the captains of the member vessels meet and discuss a strategy, identifying fishing grounds and assigned work for each boat, another local, Nguyen Tien Binh, said.

When a good fishing ground was reached, the first boat would inform the others to gather and share in the catch, helping save the entire fleet time and increasing overall productivity. If the catch is particularly plentiful, one boat can be assigned to transport it to shore while the others continue working.

“The fish gets to the market sooner instead of being stored in ice on boats,” said Binh.

At present, there were about seven fishermen working on each boat, each averaging a monthly income of about VND3 million (US$150), compared to a local average income of about VND800,000 ($40).

The commune has over 200 vessels that exploit about 3,000 tonnes of seafood annually, worth up to VND 30 billion ($1.6 million).

The organised fleet also works as the commune’s sea rescue team.

“The local authorities have initially provided each member boat with life saving and other equipment worth VND2 million, and the commune is making efforts to raise capital to expand the model,” said Duong.

Source: VNS

PetroVietnam restructures in conformance with Companies Law

The Government has approved the transformation of the state-owned holding company Vietnam Oil and Gas Corporation (PetroVietnam) into a so-called ‘one-member limited liability company’ owned by the State.


LookAtVietnam - The Government has approved the transformation of the state-owned holding company Vietnam Oil and Gas Corporation (PetroVietnam) into a so-called ‘one-member limited liability company’ owned by the State.

Under the Business Law that goes into effect on July 1, state enterprises that have not yet been equitized (issued shares) must become ‘one-member limited liability companies.’ The ‘one-member’ is the state. PetroVietnam is the first state-owned group announcing its change into this form.

The new company will inherit rights, duties and interests of PetroVietnam. Its Chairmanship and memberships of PetroVietnam’s management board will be maintained until the PM makes new decisions.

The company’s major business areas are research, exploration and exploition, transportation, and processing of oil and gas, import and export of oil and gas equipment, oil and gas products, petrochemistry, exploiting coal and minerals abroad, and production of renewable energies.

PetroVietnam also operates in the fields of finance and banking, securities, insurance and real estate. A company source told VOV that the restructured firm will gradually curb external investments and focus more on production.

It also plans to turn the PetroVietnam Gas Corporation and the Petec Trading and Investment Corporation into joint stock companies, finish a project to change the Vietsovpetro Joint Venture’s forms of operation, and list the shares of several of its subsidiaries on the stock market. PetroVietnam will retain 51 percent of the shares of its subsidiary companies that produce strategic products which can affect the national economy, but may sell off majority interest in other firms, for example its construction and drilling mud subsidiaries.

By the end of 2009, PetroVietnam had nearly 183 trillion dong of capital, earned total revenue of 23.79 trillion. In 2008-2009, its pre-tax profit was 38.64 trillion. It aims to raise its chartered capital to 500 trillion dong by 2015 and annual growth rate of revenue at 20-25 percent.

PV

A typical pavement tea shop in Hanoi

This “tea shop” opens from 5am to 6.30am and customers sit on plastic chairs to see the Turtle Tower and the Hoan Kiem Lake.

This “tea shop” has opened along the Dinh Tien Hoang street sidewalk for many years. Its customers are people who go to the Hoan Kiem Lake to do morning exercise.

It is special because the “tea shop” opens for only 90 minutes a day.

Customers serve themselves ice tea, hot tea and Artemisia tea. A glass of tea and Artemisia tea is priced only 2000 dong ($0.1).

Though the “tea shop” opens for 90 minutes, it serves a hundred of customers each day. “I can only sell tea for 90 minutes in the early morning, because police begin work at 6.30am,” explained the old woman who owns the shop.






The “tea shop” had more customers during the recent heat wave as many Hanoians woke early to get some fresh air at Hoan Kiem Lake.

Pham Hai

вторник, 22 июня 2010 г.

REE to issue convertible bonds

The HCM City-listed Refrigeration Electrical and Engineering Corporation will start offering VND810.4 billion (US$42.7 million) worth ofconvertible bonds in July to raise capital for corporate projects.

The bond has a face value of VND1 million ($53) and will yield 8 per cent per annum. Existing shareholders will have the right to buy a convertible bond for every 100 shares they own.

Bonds not taken up will be offered to other interested parties at a price to be decided, but not lower than the selling price in the offering. After a year, the bonds will be converted into shares at a rate of 72 shares for one bond.

“Capital mobilised through this issue will be pumped into core businesses, including electricity and property,” corporation chairwoman Nguyen Mai Thanh said.

That included VND480 billion ($25.3 million) in real estate projects, she said, noting the Reetower with an investment capital of VND437 billion ($23 million), which was expected to be completed early next year.

The corporation will at the same time issue 97.25 million shares to existing shareholders, of which about 16.2 million will be in lieu of a dividend payment at a ratio of 20 per cent.

The remainder will be offered as bonuses for these shareholders at a rate of 1:1. Shareholders can start registering to buy shares and receive the dividend payment from July 6 to August 2.

The company projected a turnover of VND1.5 trillion ($78.9 million) this year, up 27.7 per cent on last year, as well as a pretax profit of VND510 billion ($26.8 million), up 5.4 per cent.

Source: VNS

Film companies lack money, studios

As the celebration of the 1,000th anniversary of Ha Noi nears, private film companies are being urged to shoot historical TV series, even though they lack sufficient funds and studio space.

To make up for the shortfall, TV broadcasters have doubled payments to film companies for a single episode to VND400 million (US$21,000), far more than the 200 million ($10,500) required to shoot a soap opera episode.

Historical series require considerable investment for costumes and sets, but most directors find the higher payments offered by broadcasters too small compared to real costs.

“Advertisers aren’t interested in historical series, so it’s more difficult to sell available commercial spots than soap opera projects,” said Tran Binh Trong, production director of M&T Pictures.

His studio is working on Ve Dat Thang Long (Returning to Thang Long) project and bargaining with HTV (HCM City Television) to raise the price because it is estimated that each episode costs at least VND1 billion ($52,000).

“For historical filming, most settings, costumes and props are not available,” he said. “And we have to start from scratch.”

Director Le Cung Bac, who is filming Vo Ngua Troi Nam (Galloping in the Southern Realm), said the price of VND400 million had been cut back by one-fifth from the studios’ initial suggestion.

Lack of facilities

Many directors working for film companies said a lack of studio facilities had raised costs.

Filmmakers have to build their own sets, use existing structures used during feudal dynasties or travel to neighbouring countries to rent studios.

The film crew of Thai su Tran Thu Do (The Great Tutor Tran Thu Do – founder of the Tran Dynasty) filmed several scenes inside a temple dedicated to King Minh Mang (1820-41). The film crew allegedly encroached on a sacred sanctuary and scared off tourists.

The film crew of Ly Cong Uan–Duong Den Thang Long Thanh (King Ly Cong Uan–the Road to Thang Long Capital) had to travel to China’s Zhejang Province to rent the costly HengdianStudio. The differences between historic architecture of Viet Nam and China limited their use of the studio facilities.

“If historical set studios were available, we could save lots of costs and time for filming,” said Tat Binh, who is directing Huyen Su Thien Do (The Legend of Relocating the Capital).

“The studios could be rented by film crews, one after the other, with just some modifications,” he added.

Several plans for ambitious studio complexes have never materialised, including a movie park in District 9’s Historical and Cultural Park proposed by the Government 13 years ago to provide comprehensive services for film crews inside and outside the country.

Source: Vietnam News

среда, 16 июня 2010 г.

BUSINESS IN BRIEF 15/6/2010

US Ex-Im Bank tends to expand investment in VN; Capital shortages impede housing plans; Foreign firms seek distribution right for Vietnamese robots


The Export-Import Bank (Ex-Im Bank) of the US wants to broaden its investment to aviation, satellite, nuclear power, and infrastructure construction in Vietnam, said Chairman Fred Hochberg.

At his meeting with Governor of the State Bank of Vietnam (SBV) Nguyen Van Giau in Hanoi on June 14, the Ex-Im Bank Chairman affirmed that Vietnam is one of the bank’s nine key markets in the world.

SBV Governor Giau noted that the Ex-Im Bank’s increased operation in Vietnam will contribute to boosting trade between the two countries.

He asked the US bank to provide credits for Vietnam to help it develop the sectors with potential for development, such as renewable energy, biotechnology and road construction.

Both the bank leaders agreed that the Vietnam-US ties have developed robustly over recent years, especially in bilateral trade which reached 15 billion USD in 2009 despite adverse impact from the global financial crisis and economic recession.

Vietnam ’s exports to the US have risen sharply in recent years. In the first five months of the year, the country’s exports rose 11.5 percent over the same period last year

The same day, the US bank signed with the Vietnam Development Bank a credit deal worth 500 million USD for projects relating to communications, expressway, railway, renewable energy, waste treatment and medical equipment.

Operating in Vietnam since 1998, the US Ex-Im Bank has so far guaranteed loans and export credits and provided loans totaling 231 million USD in Vietnam.

Capital shortages impede housing plans

Capital shortage is hampering the implementation of social housing projects, such as those for workers in industrial zones and low-income earners in urban areas, according to the Ministry of Construction.

As of May 31, only 57 out of the 201 applicants for low-interest loans have been successful, the ministry said.

By the end of May, only 33 housing projects with a total investment of 2.5 trillion VND (132 million USD) for low-income earners that would have benefited some 55,000 residents, have got underway. Meanwhile, 97 other projects have been put on hold due to a lack of capital.

In terms of housing projects for workers, 24 have begun, worth a total investment of 2.6 trillion VND (138 million USD).

These will provide accommodation for 125,000 workers. However, a shortage of funds has halted 47 other schemes.

Deputy Minister of Construction Nguyen Tran Nam said the major reason for the shortage of funds was a lack of willingness by the private sector and local authorities to invest in these projects.

Nguyen Dinh Duong, director of the Hanoi Institute of Social and Economic Development Studies, said the largest obstacle enterprises were facing was access to capital loans.

Duong said that with the exception of large construction companies such as VINACONEX and HUD whose financial capacity was solid, most firms lacked the resources to run these projects in the absence of preferential loans.

In response to the situation, Pham Trung Tuyen, head of the office of the Central Steering Committee on Real Estate Market and Housing Policy, said the finance ministry and Vietnam Development Bank agreed to allocate 7 trillion VND (371 million USD) in preferential loans to 32 housing projects for low-income earners. The funds would also be made available to another 11 projects for workers in key areas such as Hanoi , HCM City , Da Nang and Dong Nai.

Nam said the ministry was also seeking to find other sources of funding such as foreign direct investment and official development assistance. Domestic credit organisations would also be approached, Nam said.

As of now, the total number of registered housing projects for workers is 264 with a total investment of 60 trillion VND (3.2 billion USD). A further 263 housing projects for low-income earners with an investment of 72.7 trillion VND (3.9 billion USD) have also been registered.

Foreign firms seek distribution right for Vietnamese robots

Seven foreign companies from Japan , the US , Poland and Germany has asked Vietnam ’s Tosy Robotics Joint Stock Company for the distribution right of its robots.

The request came when Tosy put on show 12 robots at the fourth International Trade Fair for Automation and Mechatronics (Automatica) in Germany from June 8-11, the Lao Dong daily cited Tosy’s General Director Ho Vinh Hoang as reporting.

In addition to the already familiar robot Topio Ping Pong, Tosy brought to the expo 10 industrial robots, including five parallel, three scara and two arm robots, and one human-shaped service robot that is capable of making cocktail, he said.

Hoang said Tosy’s industrial robots are much cheaper than those manufactured by foreign companies. For example, the price of Tosy’s parallel robot P404-01 is 5,500 USD, while a similar robot produced by Adept costs 45,000 USD and Fanuc, 33,000 USD.

According to the general director, Automatica drew the participation of 420 companies and groups from 42 countries and territories around the world.

Coffee producers explore Canadian market

A delegation from seven Vietnamese coffee companies paid a fact-finding visit to Canada from June 7-11.

During the trip, the delegation held working sessions with a number of local businesses and visited convenience stores and coffee shops in the country.

At a seminar in Ontario province, the entrepreneurs were introduced by the market study firm BPT to Canada ’s coffee market, distribution channels and ways of approaching, food safety regulations governing coffee and coffee-related products and consumer habits.

The Vietnam Coffee Corporation (VINACAFE) initialled an agreement with the Kien Phat Canada Company on exclusive distribution rights of Vinacafe products in this market.

Jointly organised by the Vietnam Coffee and Cocoa Association (VICOFA), the Trade Mission and the Embassy of Vietnam in Canada , the visit was part of this year’s national trade promotion programme.

Canada is now one of the world’s largest coffee importers. Vietnam ’s coffee exports to this market have seen steady growth in recent years, reaching 3 million USD in the first seven months of 2009.

In the first four months of this year, Vietnam shipped abroad 465,000 tonnes of coffee, earning 651 million USD, a reduction of 16 percent in volume and nearly 23 percent in value due to the export price falling to 1,390 USD per tonne, 100 USD lower compared to the same period last year.

Gold prices unexpectedly increase

Domestic gold prices suddently shot up on June 14 to nearly 28.10 million VND (1,478 USD) per tael thanks to an increase in the world gold price.

International investors are betting on another increase as demand for precious metals as investments is very safe and gold is still very strong.

At about 10 am on June 14, the gold price offered by Sai Gon Gold and Silver Company (SJC) on the Ho Chi Minh City bourse stood at 28 million VND per tael (purchase) and 28.06 million VND per tael (sale), up 50,000 VND per tael compared to last week (1 tael equals 1.2 troy ounces).

Gold traded by the SBJ company at 8am on June 14 was priced at 28.03 million VND per tael (purchase) and 28.07 million VND per tael (sale). In Hanoi , the 10am price at Phu Quy SJC stood at 28 million VND per tael (purchase) and 28.06 million VND per tael (sale).

The price of 28 million VND per tael of gold returned late last week, concurrent with a significant increase in the metal price in New York last June 11. Last week was a turbulent week for the gold market: at times the price for the metal rose to 28.35 million VND per tael, then suddently dropped to 27.9 million VND.

Sales in the market recorded a strong increase when the gold prices were high, but quickly returned to normal when the price went down. Gold traders said the general trend in the physical gold market was less vibrant than in the past.

Domestic gold prices are far cheaper than the world price when taking conversion and other charges into account, running about 400,000 VND per tael less than other markets.

Loans tightened to prevent bubble

The State Bank of Vietnam has tightened lending for domestic real estate to avoid a bubble and encourage the flow of capital into manufacturing and agriculture.

The action was ordered by the Prime Minister, the bank said.

Duong Thu Huong, the Vietnam Banking Association Secretary General, said the action was reasonable as long as the situation was continually reviewed.

Vo Tri Thanh, deputy head of the Central Institute of Economic Management, said limiting loans for the property sector to 10-15 percent of outstanding credit would prove difficult.

However, Hoang Viet Phuong, Maritime Bank deputy director of corporate customers, said real estate loans of banks were identified in credit contracts, so if borrowers sought more than their quotes they had to explain why.

The state bank could tell when a bank tried to pass real estate lending over as consumption lending, he said.

VietNamNet/VNA

In 2009, outstanding loans for property reached 200 trillion VND, representing 11.76 percent of the total outstanding credit.

Hanoi and Ho Chi Minh City account for 65 percent of the loans which were for repairing and buying houses for consumers and building infrastructures at urban areas and industrial zones.

Mekong Capital invests in Nam Long Company

The Mekong Capital’s Vietnam Azalea Fund Limited (VAF) has acquired minority stakes of the Nam Long Investment Joint Stock Company worth about 9.1 million USD.

Nguyen Xuan Quang, chairman of the Nam Long Company said he believed that the combined strength between Mekong Capital and other foreign and domestic shareholders of Nam Long including ASPL and Nam Viet Ltd will help Nam Long achieve greater success in the future.

Nam Long is a real estate developer, operating in Ho Chi Minh City and southern provinces. It now owns 550 hectares of land in Ho Chi Minh City , the central city of Da Nang , the Mekong delta city of Can Tho and the Mekong delta province of Long An.

Biggest cold store in Southeast Asia opens

Preferred Freezer Services Antara Vietnam held a grand opening ceremony for a large cold store in HCM City on June 12.

Construction of the cold-storage facility was completed by the first wholly foreign-owned company licensed to operate cold stores in Vietnam .

According to industry experts, the 226,500-cu.m freezer is the largest single room cold store in Southeast Asia . The facility began operations on April 1.

It is the first fully automated warehouse in Vietnam . The leading-edge material handling equipment coupled with inventory warehouse management system provides a cutting-edge facility for local and multinational food companies.

Robotic cranes working in a – 200 C environment ensure superior quality handling without requiring workers in harsh sub-zero conditions.

The 1,670sq.m +5 0C loading dock is the largest of its kind in Vietnam .

Its oversized truck yard can accommodate 32 trailer trucks. Its 16 loading dock doors equipped with electrical plugs meet customer needs for speed, accuracy and quality.

Preferred Freezer Services of Newark New Jersey is the fifth largest cold store operator in the US and the seventh largest in the world.

Preferred Freezer designs, builds and operates facilities located throughout the US . Facilities are now under construction in China . Vietnam is Preferred Freezer’s first international operation.

VietNamNet/VNA