Vietnam’s 21 travel and tourism companies are attending the World Travel Market 2009 (WTM) fair that opened in London, the UK on November 9.

Nguyen Thanh Vuong, deputy director of the Vietnam National Administration of Tourism (VNAT)’s travel market department said Vietnam’s participation in the four-day even aims to promote the country’s image to potential markets, seek new partners and contracts and introduce Vietnam’s preferential policies on investment in the tourism sector.

The WTM 2009 is expected to attract 50,000 visitors and companies from about 200 countries and regions worldwide.

Source: VNA

The Prime Minister has recently approved a project to build a bridge over the river of Hieu in Dong Ha city, Quang Tri Province.

The project, with an estimate investment of some VND 300 billion, is to build a bridge 18 meters in width and 240 meters in length.

The bridge will considerably contribute to local socio-economic development, said local officials, and especially will help stop the current dependence on transportation by boat which has risk of accidents.

The money reportedly comes from the Government’s special financial support sources.

The bridge is expected to go into operation by the end of 2011.

Source: DDDN

Translated by Thu Nguyen

PANO – Local authorities in Kon Plong district, Kon Tum, have focused their efforts on the implementation of the Government’s Resolution 30a on house-financing for poor households since the beginning of the year.

Under the policy, a local poor household receives a support of VND 7 million from the State Budget and can access a loan of VND 8 million at preferential terms and interests from social policy banks.

So far, over 1,000 poor families have benefited from the policy and nearly half of these have already built their new homes.

In addition, local agencies, in collaboration with businesses, actively send local laborers overseas as guest workers.

Translated by Thu Nguyen 

The country’s 90 State-owned groups and corporations (SGCs) contributed 40 percent of the national GDP from 2006-08, but, inefficient management of capital and State assets has reduced their productive potential, a report stated.

According to the report concerning SGCs’ implementation of laws on the use of capital and State assets, the equity scale of most SGCs had been preserved and increased in recent years.

The report was presented by Chairman of the National Assembly’s Economic Committee Ha Van Hien.

There were only four SGCs with equity capital that exceeded 10 trillion VND (555 million USD) in 2006, but by the end of 2007 the number increased to six and then to seven in 2008.

SGCs’ revenues increased from about 523 trillion VND (29 billion USD) in 2006 to nearly 867 trillion VND (48 billion USD) in 2008, the report said.

It also indicated that SGCs’ production, with a total capital of 1,241 trillion VND (69 billion USD), has accounted for approximately 40 percent of the country’s industrial production, 50 percent of export turnover and nearly 30 percent of the total domestic revenue.

Hien stressed that SGCs had played a significant role in socio-economic development by helping generate jobs, alleviate poverty, ensure social welfare and security, increase living standards and motivate other economic sectors to develop together.

However, he said nearly half of the SGCs have operated with low efficiency and productivity, and that the seven major SGCs has owned a total debt of 287 trillion VND (16 billion USD) in 2008, which was an increase of 20.5 percent compared to the previous year.

In addition to weak capital management, hasty expansion in production of SGCs to other sectors is also a major cause of the shortcomings.

There are up to 34 groups and corporations investing in finance and credit, 18 in insurance and 34 in stock, he noted.

The report also indicated that the SGCs’ use of public assets and land has raised concerns to authorities.

The report showed that a total area of 367,000ha of land have been distributed to the SGCs nationwide. With respect to this number, 10 percent of the 11,600ha in HCM City have been misused.

Hien said a law concerning the use of State capital should be used to deal with this matter. Heavier administrative sanctions that would punish these SGCs are required, he said. The complete equitisation of State-owned enterprises by July 1 next year would also be necessary, he added.

Deputy Tran Du Lich from HCM City proposed to have a law on management of State capital.

Triet Sy Lau, a deputy from northern Cao Bang province, recommended establishing a debt trading market, which he said could resolve the SGCs’ debt situation.
Deputy Sung Chung from northern Lao Cai province said that administrative sanctions to punish SGCs’ leaders who have violated the law, need to be clarified.

Regarding the report, Minister of Finance Vu Van Ninh said the evaluation would need to be impartial, fully accounting for SGCs’ social role.

“SGCs have to restructure, remain productive and fulfil socio-economic tasks at the same time,” he said.

Also in regards to the report, deputy Duong Trung Quoc from southern Dong Nai province said that it would be a starting point for the country’s economic restructuring, which hopes to make Vietnam an industrial country by 2020.

Source: VNA

State President Nguyen Minh Triet received the President and Chairman of the Management Board of the Bank for Foreign Trade, Kostin A.L., who was leading a Russian business delegation on a visit to Ho Chi Minh City on November 9.

The State leader said he was pleased to welcome the Russian guests, expressing the wish that they will harvest good results during their visit, opening new possibilities for cooperation between the two countries’ businesses.

He thanked the people of the former Soviet Union and the current state of Russia for supporting Vietnam during its struggle for independence in the past as well as its current national development.

While affirming Russia is a traditional, faithful and reliable friend of the Vietnamese people, President Triet expressed his wish that cooperation between the two countries would become more effective in the future.

He also congratulated Russia on its recent successes, saying that the increasing role and position of Russia, especially in economics, science and technology, and the military, have contributed to stabilising the world situation.

For his part, Kostin informed the State President of the results of his delegation’s meetings with leaders of major Vietnamese enterprises. Businesses on both sides agreed to boost investment cooperation in energy, auto assembly and tourism projects in Vietnam.

The two sides agreed on the establishment of a Russian business investment fund in Vietnam and the investment by Vietnamese enterprises in energy and mining in Russia as well as the development of a joint venture to invest in a third country.

VNA/VOVNews

PANO – Viet Nam Challenge Fund, a new financing instrument providing grant co-funding to new business projects that will directly benefit the poor, made debut today in Hanoi.

The fund was launched with the budget of $3 million for 2009 – 2011.

VCF is a major component of the “Making Markets Work Better for the Poor Phase 2 (M4P2)” initiative, supported by the Ministry of Planning and Investment (MPI), the Department for International Development (DFID) of the United Kingdom and the Asian Development Bank.

Although Viet Nam has made great strides in bringing millions of people out of poverty in the last two decades, pockets of poverty do remain, the UK Embassy in Hanoi stated in its press release.

“It is also important to pay greater attention to the poor at this particular juncture as the global economic downturn is pushing some of the near-poor back down below the poverty line,” the press release went on.

“Challenge funds first originated in the UK, but have since been implemented by DFID and others across a number of regions worldwide, and have proven to be an efficient development tool,” said Ms. Fiona Lappin, Head of DFID.

“Here in Viet Nam, the VCF will help absorb some of the business risks associated with innovative projects that aim to increase employment and incomes for the poor,” she said.

The Viet Nam Challenge Fund is designed to challenge the business sector in Viet Nam to propose innovative new business models that engage and benefit the poor, on a replicable and sustainable basis.

The VCF will initially focus on agro-processing linkages with the poor, but will expand to other areas such as infrastructure services, if the initial implementation experience is positive.

Ngoc Hung

Tra Su cajuput forest in That Son mountain, An Giang Province has long been a tourist destination for those who love exploring nature.

Tra Su forest is renowned for not only its almost-untouched natural beauty but also its sanctuary of flora and fauna.

Arriving in the forest, visitors will immediately feel like they are harmonising with nature because of all of the impressive pictures of cajuputs, the fragrance of the flowers and the music-like noise of birds, insects and animals making people relaxed comfortable.

From the observation post, visitors can overlook the forest with an area of nearly 900 ha, home to many birds and animals, including some rare ones.

According to the forest management board, the forest is now a favorite destination for not only visitors from cities, but also domestic and international scientists, who come there to research its vegetation and animals.

Source: VTV

Translated by Thu Nguyen   

The first cooperation agreement on pharmaceutical management was signed between Vietnam and Argentina during the visit by Vietnamese Deputy Head of the Pharmaceutical Administration Department, Nguyen Viet Hung from November 2-7.

According to the agreement, the two sides will cooperate in research, technical assistance, professional training and exchange experience in the field. They will also focus on the control and surveillance of medicines, vaccinations and other pharmaceuticals.

Hung also worked with Ricardo Martinez, Director of Argentina’s National Administration of Drugs, Foodstuffs, and Medical Technology (ANMAT) and visited some pharmaceutical businesses. At the meetings, the Vietnamese official introduced the country’s trade promotion policies for foreign investors in pharmaceutical industry.

Argentina now has 9 enterprises involved in exporting pharmaceuticals to Vietnam.

Source: VOV

PANO – A contest titled “Competent military teachers in cities and provinces” has just been held by the General Staff.

Hundreds of selected military teachers from 63 schools in localities nationwide participated in the contest. Also present at the event was member of the Party Central Committee, Deputy Chief of the General Staff, Lieutenant General Pham Van Hung.

Participants took part in a number of tests, including military regulations, military skills and tactics, live shooting and computer skills. Candidates’ abilities were also assessed via their conducting classes in their specialties.

According to the organising board, although this year’s tests were designed to be tougher, many finished the tests successfully.

Translated by Thu Nguyen  

PANO – The Ho Chi Minh Mausoleum was reopened on November 7^th, after it had been closed for regular maintenance, according to the Ho Chi Minh Mausoleum Safeguarding High Command.

During the time of maintenance, all works regarding conservation of the remains of Uncle Ho and technical repairs and upgrading had been done by military and civilian scientists and technicians.

Some 10,000 people, including international guests, visited the mausoleum on the first day of reopening, November 7^th, according to the Mausoleum Management Board.

Translated by Thu Nguyen