Phu Tho licenses ethanol production plant

Hanoi (VNA) – Northern Phu Tho province on August 21 licensed an 80 million USD ethanol production plant in Tam Nong district.

The plant, owned by the Petrochemical and Bio Fuel Joint Stock Company, under PV Oil, is capable of turning out 100,000 c.m. of product per year.

When operational in the next year’s fourth quarter, the plant will provide jobs for 23,000 local workers, helping improve people’s living conditions.-

Local banks increase cooperation with foreign partners

Hanoi (VNA) –A lot of local banks have sold or increased foreign investor’s stake in their banks, considering this as a solution to strive against the increasingly fierce competition from these foreign rivals.

For instance, the Vietnam Import-Export Bank (Eximbank) has sold 25 percent stake to four foreign investors, meanwhile, the Southeast Asian Joint Stock Commercial Bank (SeABank) has also sold 15 percent of their stake to France ’s Societe Generale S.A bank.

With advantages in experiences, technologies and financial potentials, foreign investors are expected to give local banks opportunities to improve administrative ability and develop business.

SeABank’s Chief Executive Officer Nguyen Thi Nga said that Societe Generale has started an official and comprehensive cooperation process with her bank as a strategic shareholder.

As a result, SeABank is working to develop its system of retail banking service with a view to becoming a leading retail bank in Vietnam .

For foreign investors, their stake in Vietnamese joint stock banks will help them get better profits from this potential market.

The Asian director of Societe Generale, Francois Turcot, explained the reason why Societe Generale chose SeABank as its partner in Vietnam . SeABank has a network of branches in Vietnam ’s major economic centres, good trade label, potential for development and particularly a reliable contingent of bankers.

Getting approval to increase it stake in the Asian Commercial Bank from 8.84 to 15 percent, Standard Chartered, a giant bank from the UK , said it was expecting a long-term operation in Vietnam .

At the same time, local banks are working hard to increase their competitiveness to reduce pressure from their foreign partners, Vietnamese pundits said.-

FAO expert awarded medal for farm work

– The Ministry of Agriculture and Rural Development on Aug. 20 awarded a medal to an expert from the UN Food and Agriculture Organisation for his contribution to agriculture and rural development.

Patrick Durst has been working as the FAO senior forestry officer for Asia and the Pacific region since 1994. Upon receiving the award, he said he was fascinated by the transformation and progress Vietnam had made in increasing its forest cover by 40 percent in a little more than a decade.

Andrew Speedy, the FAO representative in Vietnam, said Durst’s award was a great honour because it acknowledged the UN organisation’s contribution to the improvement of forestry related works in Vietnam.-

Seminar examines better bus services in HCMC

– Local and foreign participants at a seminar on August 20 offered practical solutions to improving bus services in Ho Chi Minh City.

Prof. Kwang Sik Kim of the Republic of Korea ’s Sung Kyung Kwan University spoke about Seoul’s experiences, including the use of smartcards as well as the creation of a board to improve bus operations.

The board is made up of representatives from the local government, social organisations, businesses, experts and residents.

Le Trung Tinh, head of the city Transport Department’s Industrial Transport Division, put forward seven solutions to develop the bus system.

Preferential policies should be used for bus companies, including giving them exclusive routes. The bus subsidy would continue and the number of individual vehicles would be limited, Tinh said.

He said that a bus operating agency and an integrated public transport system should be established.

The international seminar was co-hosted by the HCM City University of Technology and Seoul-based Sung Kyung Kwan University.

HCM City currently has 31 enterprises, involved in bus service, operating 151 bus routes for a total length of 3,401 km. Of these, 117 routes enjoyed a subsidy and 34 are non-subsidised.

An estimated 296.2 million passengers took buses last year, a 16.9 percent increase over 2006, which met five percent of demand.

However, service quality remained poor, with bus attendants taking a discriminatory attitude to passengers who use different types of fares and buses skipping terminals and not sticking to schedules.-

Vietnam, Uzbekistan inter-gov’t committee meets

– Officials of the Vietnam-Uzbekistan Inter-governmental Committee for Economic, Commercial, Scientific and Technological Cooperation convened their second meeting in Hanoi on Aug. 20.

On the first day of their two-day meeting, Vietnamese and Uzbekistani officials exchanged information relating to socio-economic development and investment opportunities and potential in their respective countries.

They were eager for cooperation in leather tanning, the production of footwear, silk, construction materials and consumer goods to meet Uzbekistan’s demands and for export to the third country.

Vietnamese and Uzbekistani officials also discussed cooperation in growing of cotton and rice, sericulture, and the exchange of experience in post-harvest and processing techniques.

They expressed hopes to team up in oil and gas exploration activities, set up banking agents to support the two countries’ businesses, and cooperate in the fields of culture, sports, tourism and training.

The officials said that the two countries’ two-way trade value of 6 million USD in 2007 remains below their potential and demand and outlined a map to increase the exchange of information on investment environment, trade, and export to raise their trade volume and develop economic ties as a whole.

At present, Vietnam imports cotton, fibre, silk, machinery, equipment and fertiliser from Uzbekistan and exports seafood, fruits, medicines, rice, tea and coffee to the central Asian country.-

Vietnam and Palau celebrate diplomatic ties

– Vietnam and the Republic of Palau officially established diplomatic relations on August 18.

With authority granted by the Government of Vietnam and the Palau Government, Vietnamese Ambassador to the Philippines, Vu Xuan Truong, and Palau Ambassador to the Philippines, Ramon Rechebei, signed in Manila (Philippines) a joint declaration establishing diplomatic relations between the two countries.

The Vietnamese Ambassador in the Philippines will serve as non-permanent ambassador to Palau, and the Palau Amabassador to the Philippines also serves as non-permanent ambassador to Vietnam.

At the signing ceremony, the two ambassadors said they hopes the new diplomatic relations would lead to new cooperation in many aspects between the two countries, especially in the economy, contributions to consolidating peace, stability and common development in the region.

Palau consists of 340 islands, with a population of 20,000 residents, located between the Philippines and Papua New Guinea.

The Republic of Palau was established on October 1, 1994.

Its main economic sectors include tourism, agriculture and fisheries. Last year, its GDP was 162 million USD and it received 93,000 foreign tourists.-

VN welcomes positive developments in Mid-East

– Vietnam welcomes a number of positive developments across the Middle East over the past month, stated Vietnamese representative to the United Nations Security Council Ambassador Le Luong Minh.

Addressing a UNSC consultation on the Middle East in New York on August 20, Minh said, “Vietnam is encouraged by the continued commitment by Palestine and Israel to moving peaceful negotiations forward, the marked decline of violence in Gaza since the ceasefire took effect, the further efforts undertaken by the Palestinian Authority to consolidate security and socio-economic development, the dialogues among regional stakeholders on issues of common interests, and the surge in high-level diplomacy aimed at creating a more conducive environment for peaceful resolution of disputes.”

The senior diplomat, however, expressed his deep concern over persistent challenges, including Israel’s continued expansion of illegal settlements in the occupied territories, its ongoing military incursions into the West Bank and building of the separation wall, and its imposition of closures in Gaza .

He called on the parties concerned to “translate agreements into more concrete and substantive results, avoid any statement or action that may complicate the negotiating process,” and “to scrupulously abide by international law, particularly human rights and humanitarian laws.”

The ambassador took the occasion to reaffirm Vietnam’s support to the roles of the UN, the Quartet and the League of Arab States in this connection.

Regarding Lebanon issue, Ambassador Minh applauded the Lebanese Parliament’s approval of a national unity cabinet, the process of normalisation of Lebanon-Syria relations, and the exchange of prisoners between Israel and Lebanon.

He condemned the recent bombings in Tripoli and some other areas that threaten to undermine Lebanon’s stability and security and urged all parties in the country to exercise utmost restraint, fully abide by the Doha agreement and promote national reconciliation to contribute to political stability, socio-economic reconstruction and regional and international reintegration.

Minh also called on all parties concerned to intensify cooperation to peacefully tackle existing challenges such as Israeli air violations and its continued occupation of the village of Ghajar in Lebanon, the unresolved status of Shab’a Farms as well as the issue of prisoner exchange.

The senior diplomat reaffirmed Vietnam’s support to the full implementation of Resolution 1701 (2006), especially with regard to the respect for sovereignty and territorial integrity of Lebanon.-

Vietnam-Venezuela joint committee meets

Buenos Aires (VNA) – The first session of the Vietnam-Venezuela joint committee opened in Caracas , Venezuela , on Aug. 20.

The Vietnamese delegation was led by Minister of Industry and Trade Vu Huy Hoang.

The Venezuelan delegation included Foreign Minister Nicolas Maduro, Minister of Energy and Petroleum Rafael Ramirez, Minister of Light Industries and Commerce William Contreras and Minister of Basic Industries and Mines Rodolfo Sanz.

The two sides discussed bilateral cooperation in construction of oil refinery factories in Vietnam , Vietnamese oil exploitation projects in Venezueala and the establishment of a common fund to promote bilateral cooperation in science and technology, economics, finance, commerce, industry, agriculture and culture.

They also considered the implementation of a memorandum of understanding on establishment of a joint venture to produce electricity-saving light bulbs.

The two sides agreed on Vietnam’s supply and installation of public lighting systems in Venezuela , and information exchange between the Vietnamese national radio the Voice of Vietnam and the National Radio of Venezuela (RNV).

The first session of the joint committee is an outcome of the Venezuela visit by General Secretary of the Communist Party of Vietnam Nong Duc Manh last year. During the visit, the two sides inked a series of documents on bilateral cooperation.-

Quang Tri strengthens assistance for Lao province

Quang Tri (VNA) – Central Quang Tri province has decided to spend 1 billion VND (600,000 USD) assisting Savannakhet province of Lao in education, healthcare, agriculture and border infrastructure construction.

As part of the province’s assistance programme, the Quang Tri Rubber Company has coordinated with Laos ’ Quasa Joint Stock Company to plant 2,700 ha of rubber trees in Savannakhet. With the company’s help, the Lao province expects to raise its rubber growing area to 8,600 ha by 2010.

The company plans to build a 10,000-tonne rubber latex processing factory in Savannakhet and train local workers in exploiting and processing rubber latex.

In addition to mutual assistance programmes, Quang Tri and Savannakhet provinces aim to boost economic cooperation through and the exchange of information on investment, labour and business preferential policies as well as investment in border economic zones.

They have also agreed to closely coordinate in the search for remains of Vietnamese volunteer soldiers and experts who died in Laos as well as in border security and disease prevention.-

Vietnam, Uzbekistan reach cooperation deals

Hanoi (VNA) – Vietnamese and Uzbekistani representatives agreed to speed up bilateral cooperation in oil and gas exploration to advance to the signing of a contract to explore oil and gas in Uzbekistan .

They also reached a preliminary agreement on the transfer of technology to liquefy gas from underground coal mines.

For signing of an agreement on visa exemption for Vietnamese diplomats, they agreed to deploy the drafting and sign an agreement on plant quarantine and a cooperation accord on agriculture.

The Uzbekistani side expressed their willingness to supply cotton and fibre for Vietnam for the long term.

At the end of the 2 nd meeting of the Vietnam-Uzbekistan Inter-governmental Committee for Economic, Commercial, Scientific and Technological Cooperation in Hanoi on Aug. 21, the Vietnam Chamber of Commerce and Industry, for its part, inked a cooperation agreement with its counterpart, while PetroVietnam signed an oil and gas cooperation deal with Uzbeneftegaz.

During their two-day meeting, Uzbekistani representatives held working sessions with colleagues from the ministries of planning and investment, foreign affairs, education and training to discuss issues relating to bilateral cooperation of mutual concern.

They also worked with officials from the Vietnam Chamber of Commerce and Industry, the Vietnam National Oil and Gas Group, Vietnam airlines, the National Administration of Tourism, the Garment and Textile Association, the Vietnam Footwear Association and the Tien Son industrial zone in Bac Ninh province.

The same day, N Najimov, Chair of the Uzbekistan section to the Inter-governmental Committee, met with Deputy Prime Minister Hoang Trung Hai.-