Information dissemination agencies urged to cling on reality

Tu Duc’s self-biography is over 4,800 words long and consists of five parts, in which the king wrote about his life, his empire-building as well as his bad luck and illness. In the fifth part, the king acknowledged the numerous mistakes and misdemeanours he was guilty of. He confided that sometimes he had trusted the wrong people and had also been badly behaved on many occasions. 
Truong Tan Sang, Standing Secretary of the Communist Party of Vietnam Central Committee and Political Bureau member, made the suggestion while addressing a national conference reviewing dissemination and education work in 2009 in Ho Chi Minh City on January 6.

He pointed to the importance to develop an agency of information dissemination and education personnel who are politically firm, ethically good, and professionally qualified to enable them to well perform their tasks.

After reviewing the outcomes and existing problems in this front, Sang said the information and education agencies will be busy in 2010 as the country will mark big celebrations, including the 80th founding anniversary of the Party, and preparations for the Party’s XIth Congress.

The dissemination and education agencies should carry out practical activities to promote patriotism, national pride, and revolutionary tradition among the people, Sang said.

At the conference, orientations and goals of information dissemination and education work for 2010 were introduced.

Ethnic minority groups in Dak Lak hold congress

Dak Lak (VNA) – The first Congress of Ethnic Minority Groups in the Central Highlands province of Dak Lak took place on Jan. 6, drawing 353 deputies representing 40 ethnic minority groups in the province.

Tong Thi Phong, Secretary of the Communist Party of Vietnam Central Committee and Vice-Chairwoman of the National Assembly (NA); Ksor Phuoc, Chairman of the NA Ethnic Minorities Council; and Giang Seo Phu, Minister-Chairman of the Committee for Ethnic Affairs attended the event.

Participants reviewed the patriotic campaigns of the province’s ethnic minority groups over the past time and worked out plans for coming years with the aim of strengthening the all-people solidarity to develop the country.

Over the past time, many projects and programme on poverty reduction and socio-economic development were carried out in the province, bringing about remarkable improvements in local people’s living standards.

Noteworthy were the implementation of the Government’s decision on investment in socio-economic development in the Central Highlands, the programme on socio-economic development in special difficult areas and programmes on farming land, housing and safe water.

Dak Lak province plans to continue to give priority to socio-economic development in areas of ethnic minority people, as well as developing human resources, building infrastructure and poverty reduction there.

The congress selected 41 outstanding representatives to attend the up-coming National Congress of Ethnic Minority Groups.

Lethal flu lets up but still capable of mutation

Hanoi (VNA) – The A/H1N1 influenza endemic has waned nationwide, a health official said on Jan. 6. 

Within the past week, the whole country reported only one infection and no deaths, said head of the Health Ministry’s Preventive Medicine and Environment Department, Nguyen Huy Nga, at the National Steering Committee on Human Flu Prevention meeting.

However, Nga added, this winter-spring time provides perfect conditions for the resurrection of many diseases, enhancing the risk that the A/H1N1 virus to combine with other types of virus strains to mutate itself into a more lethal flu strain.

According to Dr. Nguyen Van Kinh, Director of the Central Hospital for Tropical Disease, the number of A/H1N1 patients at the hospital has remarkably reduced. 

He emphasised that pregnant women and people living with HIV must be more vigilant to the flu. 

The Ministry of Health meanwhile continued its warning that it is difficult to predict future developments of A/H1N1 flu in the coming time and citizens should take careful preventive measures against the disease.

12,000 people to walk for the poor in HCM City

HCM City (VNA) – About 12,000 people will participate in a charity walk for the poor in Ho Chi Minh City on January 10, said the event organisers at a press conference on January 6. 

Much of the proceeds from the 5th Lawrence S. Ting walk will fund the poor in districts 7 and 8 and rural districts of Nha Be and Binh Chanh, and a sports programme for young talents in the southern city. The remaining sum will be used for storm and flood victims in the central regions. 

Participants will walk 3.5 km around the newly-developed Phu My Hung urban area. 

The organisers said by January 5, they raised more than 2.3 billion VND.

Over 27 trillion VND misused in 2009: inspectors

Hanoi (VNA) – Government inspectors uncovered the misuse of more than 27 trillion VND, and wrong usage of over 11,300 sq. m of housing and more than 2,700 ha of land from more than 60,000 inspections they made in 2009.

Of the financial misused sum, the inspectors proposed that the State recover 7 trillion VND for its budget, hand down administrative sanctions on those who misused 235 billion VND, and assign relevant agencies to deal with the remaining more than 17.9 trillion VND. 

They also asked the State to reclaim back more than 1,700 ha of the misused land.

Regarding the settlement of denunciations and petitions lodged by citizens, the inspectors said in 2009 State agencies dealt with 64,000 denunciations and petitions.

As a result, over 2,000 people were fully vindicated and 74 cases involved 114 people were transferred to investigative agencies to decide on their criminal responsibilities.

In the year, the anti-corruption campaign yielded important gains and saw positive changes, the Government Inspectorate said, attributing those to the strengthening of institutional tools and regulations, wide-scale education of laws and implementation of preventive measures, and due punishments given to offenders. 

The agency worked with relevant ministries and central agencies on a national strategy on combating and preventing corruption until 2020 and aided the Government in works relating to the fight.

However, it admitted that much remains to be done in preventing corruption especially in the declaration of assets by State civil servants and leaders.

This year, Government inspectors will focus on inspections on State agencies’ responsibilities.

They will also concentrate on examining denunciations regarding corruption and intensifying inspection and surveillance over anti-corruption work undertaken by ministries, sectors and localities.

Efforts to fight against crime in 2010

Hanoi (VNA) – Representatives from ministries, sectors and agencies gathered in Hanoi on Jan. 6 to plan the nation’s fight against crime in 2010.

Addressing the conference, General Le Hong Anh, Minister of Public Security instructed the joint steering board of the national anti-crime programme and the Programme of Action on Combating Trafficking in Women and Children to quickly construct a detailed plan of action on crime prevention and human trafficking eradication.

He asked relevant agencies to complete policies helping victims of crime and human trafficking to reintegrate into the community and to properly educate youths and persons of high-risk groups as to prevent them from participating in illegal activities.

The minister mentioned campaigns mobilising people to fight crime and ensure national security during the country’s major celebrations this year, including the upcoming Tet festivities in February.

In 2009, under the two national programmes and efforts by relevant agencies and personnel, the number of crimes decreased 4.9 percent in comparison to 2008. 

However, over 13,000 cases of drug-related crimes were recorded, an increase of 2.87 percent over 2008 and nearly 400 cases of human trafficking were detected with 860 victims, an increase of 5.3 percent since 2008.

Finnish Parliament Speaker to visit Vietnam

Hanoi (VNA) – Speaker of the Finnish Parliament Sauli Niinisto will pay a friendship visit to Vietnam from Jan. 10-13, according to the National Assembly External Relations Committee.

The visit will be made at the invitation of Chairman of the National Assembly Nguyen Phu Trong.

President Triet meets with Binh Phuoc officials

Binh Phuoc (VNA) – State President Nguyen Minh Triet agreed on Jan. 6 to support Binh Phuoc province in its request for use of the state budget for electricity grids in minority-inhabited areas even though the poverty rates in these localities are not high.

The southwestern province’s poverty rate in 2009 was reduced to 4.79 percent, while recent regulations only allocate state funding for power development to areas with a poverty rate of more than 50 percent.

Without the state support, electricity distribution in Binh Phuoc remains sparse because companies are reluctant to invest in constructing more electricity grids in remote areas because of profit reasons.

During the meeting with leaders from Binh Phuoc addressing the province’s socio-economic developments in 2009, the State President also promised to ask the government to assist the province in building roads to border guard posts.

He was asked to urge the government, ministries and agencies to negotiate with Cambodia and Laos for a joint agreement on transportation, trade and tourism in order to facilitate free flow of trade and promote economic, cultural and tourism cooperation among the three countries.

The provincial authorities also proposed to quicken construction of the trans-Asia railway and asked for permission to build a railway route from the Central Highlands to Ho Chi Minh City through Binh Phuoc’s territory.

Binh Phuoc officials requested the President to grant them the power to support Cambodian provinces bordering Binh Phuoc in infrastructure development.

After the meeting, President Triet visited the Hung Nhon joint-stock company, attended the signing ceremony between the Binh Phuoc provincial People’s Committee with the Vietnam Rubber Industry Corporation and Mai Linh Group, and attended a music show raising money for the poor and disabled, orphans and victims of Agent Orange/dioxin.

China affirms cooperative relations with Vietnam

Hanoi (VNA) – The Chinese Communist Party and Government always attach great importance to the development of friendship and cooperation relations with Vietnam , stated Chinese Ambassador to Vietnam Sun Quoqiang at a press conference in Hanoi on January 6. 

The Ambassador spoke highly of this year’s importance as the two countries celebrate their 60th anniversary of diplomatic ties. 

The two countries’ leaders agreed to hold numerous activities this year marking the event, including a trip to Vietnam by Chinese officials who studied and worked with the late President Ho Chi Minh, noted the Ambassador. 

“We have hundreds of reasons for developing the bilateral relations. And there is no reason for damaging them,” stressed the Ambassador while reviewing the two countries’ relations over the past 60 years. 

The Ambassador mentioned three major foundations to develop bilateral relations: mutual respect and understanding, equality and mutual benefit and an emphasis on main common goals. 

Mutual cooperation over the past 60 years brought about abundant and practical results. In 2009, Vietnam and China exchanged 267 delegations, of which 108 were at deputy ministerial level or higher. Two-way trade turnover has grown despite the global economic crisis, hitting nearly 20 billion USD in the first 11 months of last year. 

Ambassador Sun Quoqiang also asserted determination that China will not let the East Sea issue affect the friendly and cooperative ties between the two countries. 

The Chinese diplomat also took this opportunity to congratulate Vietnam on taking the chair of ASEAN this year. He affirmed China ’s support and belief that Vietnam would do well in this task.

Indonesia to assess bree trade deal impacts

Jakarta (VNA) – Indonesia has set up a special task group work focusing on in forecasting disadvantages domestic industries may encounter because of the ASEAN-China Free Trade Agreement (ACFTA) and the Common Effective Preferential Tariff (CEFT) brought by the ASEAN Free Trade Agreement. 

The Indonesia Coordinating Minister for Economy, Hatta Radjasa, said that the group will monitor the implementation of intellectual property rights, consolidate the export market and forecast trade frauds. 

Indonesian authorities said they hoped that the group will help prevent smuggling and monitor the circulation of goods on the domestic markets. 

Indonesia has recently proposed other Southeast Asian nations to delay the implementation of tariff cuts that is in accordance with ACFTA. 

A number of Indonesian industries, including textile sector, complained that they will be hurt by ACFTA when cheap China imports flood the domestic market. 

Indonesia wants to re-negotiate with other ASEAN member countries and China on tariffs on 228 categories of goods of eight industrial sectors which are considered to be weaken by ACFTA.

Thang Long Tu Tran – Hanoi’s sacred temples

Hanoi (VNA) – With thousands of years of history, Hanoi treasures its collection of temples and pagodas and its accompanying traditional customs and festivals, including the worship of genii at four sacred temples surrounding Thang Long citadel.

In the ancient Thang Long exists four sacred temples worshiping the Gods who guard the four main posts of the citadel in the north, south, east and west.

The four Temples of Protective Gods are Bach Ma (White Horse) in the East, Voi Phuc (Kneeling Elephant) in the West, Kim Lien in the South, and Quan Thanh (Holy Mandarin) in the North, forming Thang Long Tu Tran (the four guards). 

Thang Long Tu Tran festival is annually held in spring, beginning from the ninth day of the second month until the sixteenth day of the third month of the lunar calendar.

The festival, including the Gods’ offerings and parading ceremonies, is an occasion for the people to express their respect and gratitude to heroes who made great contributions to national construction and defence.

Thang Long Tu Tran is listed in the capital city’s destinations for tourists.

The Hanoi People’s Committee has invested in restoring the four sacred temples in order to preserve Thang Long Tu Tran’s special values and towards the Thang Long-Hanoi millennium anniversary. The restoration is scheduled for completion by the end of next month.-Enditem

Hungarian books showcased at Hanoi Library

Hanoi (VNA) – Local residents now have the opportunity to read and buy widely known novels by Hungarian writers during the four-day event celebrating Hungarian literature that opened at the Hanoi Library on Jan. 6. 

More than 50 titles, including over 20 books which have been translated into Vietnamese, have been put on display to help Hanoians better understand the Hungarian land and people. 

Co-organised by the Thanh Nien Publishing House and the Embassy of Hungary in Vietnam, the event commemorates 60 years of diplomatic ties between the two nations. 

Present at the opening ceremony were Hungarian Ambassador to Vietnam Vizi Laszlo, Director of the Hungarian books fund Karolyi Dora and poet Falusi Maron. 

During the event, visitors can also meet with translators Le Xuan Giang and Nguyen Hong Nhung, and watch special movies such as “Nhung ngoi sao Eghe” (Eghe Stars) and “Thuoc phien” (Opium).

Red Cross staff receive disaster training

Ca Mau (VNA) – A workshop on community-based disaster preparedness, opened in Ca Mau province on January 6 for members of staff of Red Cross societies in the central and southern localities. 

The workshop aims to increase the capacity of Red Cross staff to assess disasters and potential vulnerabilities as well as initiating community-based responses. 

Participants at the week-long workshop will also discuss the impacts of natural disasters on people’s lives and their health as well as analysing risks and how to draw up plans to mitigate risks.

Nguyen king’s “Self-criticism” makes stele unique

Hanoi (VNA)- Among the most valuable artefacts left by the Nguyen dynasty is King Tu Duc’s gravestone, with an engraving by the King in which he takes a critical look at himself. 

The gravestone, carved with the “Modest and Respectful Biography” written by King Tu Du (1829-1883), has been selected by historians as the only Vietnamese epitaph in history. 

It was part of a stele made of monolithic marble, over 4 m high, 2.6 m wide and weighing 22 tonnes and made at King Tu Duc’s tomb in the former imperial city of Hue in 1875. It was recorded as the highest and heaviest stele in the country by Guinness Records Vietnam in 2008. 

The stele was carved on both faces with the upper side engraved with the standard ancient Chinese scripts called Kaisho and the other side chiselled with the ancient Chinese script known as Haengseo. 


The Director of the Museum on Hue Royal Palace Artefacts, Nguyen Phuoc Hai Trung, said that most of the epitaph had been written by successors to posthumously salute the achievements the former ruler had made as well as his merits. Unlike others, in his epitaph, the King did not hail his successes but wrote down his feeling of shame for failing to provide for the country and his people. 

“Self-criticism before history is not easy for people, especially for the one who was at the peak of his power like King Tu Duc. The stele is therefore not only a tangible asset but also an asset to literature and art ” Trung emphasised. 

The collection of valuable artefacts left by the Nguyen Dynasty, which has been proposed as national assets, includes a throne from the Thai Hoa Palace , a shuttlecock in the shape of nine dragons fighting for a pearl, a collection of four brass bells and a melodic stone. 

All are on exhibition at the Museum on Hue Royal Palace Artefacts.

Female workers enjoy five-month maternity leave

Hanoi (VNA) – As of February 15, women who work in heavy or dangerous jobs or a toxic environment will be entitled to enjoy five months after delivery instead of four months. 

This is the main content of circular 41 issued by the Ministry of Labour, War Invalids and Social Affairs on December 30, 2009 to replace circular 3 issued in 2007 that guides the implementation of the Law on Social Insurance. 

Circular 41 stated that female workers who have worked in remote and mountainous areas with severe temperatures and a poor infrastructure for six consecutive months will also be allowed to enjoy a five-month maternity leave. 

Finalisation of the working regulations for female workers will ensure women’s rights and enable women to make a bigger contribution to family and society, says the circular.-Enditem

Cambodia builds road to Vietnamese border

Phnom Penh (VNA) – Cambodia has started the construction of the final section of national road No. 1 which links Phnom Penh to the Vietnamese border. 

The 42-km section, which runs from the Nek Loeung ferry crossing to the capital city of Phnom Penh , is being built with an investment of 42 million USD jointly funded by the Cambodian government and Japan . It is expected to be completed within a year. 

While addressing the groundbreaking ceremony on Jan. 5, Prime Minister Hun Sen said that once the road is opened to traffic, it will meet the growing demand for efficient transport links between Cambodia and Vietnam . 

The road will also create an economic corridor which will assist Cambodia’s national development programme, PM Hun Sen added. 

National road No. 1 is 145 km long and the first section, which connects the Nek Loeung ferry crossing with the border, was upgraded four years ago.

Children’s paintings promote understanding, friendship

Paris (VNA) – An exhibition of Vietnamese children’s paintings opened at the Vietnam Cultural Centre in Paris on Jan. 5. 

The paintings depict Vietnam and its people through a child’s eyes and the exhibition has nearly 140 paintings by kids aging from 6 to 14 on display.

It gives French people and overseas Vietnamese a chance to understand the Vietnamese kids’ capacity for painting and how they feel about their surroundings. The exhibition will help to present Vietnam’s countryside and its people to foreign friends and develop the friendship between Vietnam and France.

The exhibition will last until the end of January.

WWF proposes biosphere reserve in Mekong delta

Hanoi (VNA) – The World Wide Fund for Nature (WWF) has recommended that Vietnam goes through the necessary procedures so that the coastal areas of the Mekong delta provinces of Soc Trang, Tra Vinh and Ben Tre can be recognised as a world biosphere reserve. 

WWF was reported by the Tuoi Tre (Youth) newspaper on January 5 as saying that this recognition would help Vietnam to expand its coverage of mangrove forests and create opportunities for sustainable development in the three provinces. 

Soc Trang, Tra Vinh and Ben Tre provinces share a 202 km coastline and lie on the Mekong estuary which runs into the East Sea through the two biggest rivers in the Mekong delta, the Hau and the Tien. 

They are home to 17 million people and important for the country’s food security as well as the world at large and their mangrove forests protect the coastline from the sea, acting as a buffer zone.

Kindergartens, primary schools now in every commune

Hanoi (VNA) - Kindergartens and primary schools have been set up in every commune in the country as part to the Government’s National Programme of Education For All for the 2003-15 period. 

Pham Ngoc Dinh, deputy head of the Ministry of Education and Training’s Primary Education Department, said that about 80 percent of children under five years old now attended kindergartens, while more than 96 percent of children aged six now attended primary schools. 

Dinh said that more ethnic minority children now had the chance to attend a primary school.

He also said the quality of pre-education had improved. 

According to the ministry, in the 2008-09 school year, 13 percent of kindergartens met national education standards. 

He said next year the target was 15 percent. 

Meanwhile, he said 94 percent of kindergarten teachers had received help with boosting education standards. 

Under the programame, 2.585 billion USD is being spent on boosting pre-and primary education and on popularising life skills for children above 15 years old. The money is also being spent on tackling gender inequality in primary and secondary schools and on improving standards. 

Officials from the ministry said 16.82 percent of primary schools did not have a library, 3.37 percent of six-year-olds did not have access to school, while 2 percent of students dropped out of school. 

Dinh added that the country was aiming to have 70 percent of disabled children attend school this year. He also said 100 percent of schools would have a computer laboratory and receive free text books by 2015. 

However, the ministry said that there was still a teacher shortage and a lack of equipment, particularly in rural areas. 

He added that teacher salaries were also too low, while teachers at ethnic minority kindergartens lacked language skills. 

Dinh said representatives from local education and training departments had suggested that the Government and the ministry use money from the Initiative Fund to improve the quality of pre-school education and to popularise the Vietnamese language among ethnic minority children.-Enditem

Science university set to open this year

Hanoi (VNA) – Hanoi Science and Technology University jointly funded by the Vietnamese and French governments with an initial investment of 242 million USD, will open in September. 

Deputy Prime Minister Nguyen Thien Nhan said that the university would boost education standards in the country. 

Nhan said that the establishment of the university was a symbol of the good relations enjoyed by Vietnam and France . 

Nhan said that regarding education and training programmes, the university would cooperate with French universities. 

Under a decision issued by Prime Minister Nguyen Tan Dung last month, the university, one of the four public universities under the direct management of the Ministry of Education and Training, will be sponsored by the Government. 

Meanwhile, the French Government has pledged to help Vietnam boost staff training, particularly in the field of science and technology. 

Professor Nguyen Van Hieu, a prestigious scientist of Vietnam , said that the establishment of the university would greatly benefit Vietnamese scientists and researchers. 

Hieu said that the Vietnam Science and Technology Institute planned to provide land and facilities for the university. He also said the institute’s leading professors and scientists would help out at the university. 

Deputy Prime Minister Nhan asked the Ministry of Education and Training to appoint a French chancellor to head the university. 

By the middle of January, the Ministry of Education and Training and the Science and Technology Institute plan to establish a management board to run the university. The university’s main campus will occupy an area of 90ha in the city’s Hoa Lac High-technology Area.

Vietnam Beauty named in world’s top 10

Hanoi (VNA) – Vietnamese model Tran Thi Huong Giang won a special award for Sexiest by Popular Demand and is one of the ten hottest beauties on the planet, according to GlobalBeauties.com.

She won 26 percent of 12,000 votes from people across the world in the website’s poll. Giang is among the 10 sexiest women alive together with Miss Earth Philippines , Miss World Gibraltar, Miss World Panama, Miss World Mexico, Miss Universe Australia , Miss Earth Brazil , Miss World Barbados and Miss Tourism Queen Altai Republic .

“When I came in the top 20, I was really surprised because it is not easy to do well at international polls held by Global Beauties,” Giang said. “I am really satisfied.” 

Giang, 22, a professional model, is 1.8m in height and measures 86-61-92. She won the Miss Hai Duong title in a local contest in 2006 and was the second runner-up at Miss Vietnam Global 2009.

She represented Vietnam at Miss World 2009 in South Africa and was among the top 16.

The hottest beauties selection was made by the judging panel of Global Beauties, based on results from Miss World, Miss Universe, Miss Earth, Miss International and Miss Tourism Queen.-Enditem

2,000 ancient artefacts found in Khanh Hoa

Khanh Hoa (VNA) – Archaeologists from the Archaeology Institute and the museum of central province of Khanh Hoa have discovered more than 2,000 objects dating back to 2,000-2,500 years ago at the Vinh Yen archaeological site in Van Ninh district. 

They included 2,000 stone tools, 24 metal objects like coins and bells, 190 ceramic objects like vases, bowls and pots, and more than 10 tonnes of pottery. 

In excavations between July and December 2009, the archaeologists also found six tombs and 17 graves.

Over 1.4 trillion VND for student dormitory projects

Hanoi (VNA) – The Prime Minister has approved a list of student housing projects in Hanoi and HCM City using government bonds in 2009. 

Hanoi had been allocated 625 billion VND to implement 10 projects which are expected to accommodate more than 52,400 students. Meanwhile, HCM City received 800 billion VND for five projects which will provide on-campus accommodation for 75,200 students. 

Twelve out of 15 projects which have been carried out since 2009 are expected to complete this year while three others in Hanoi ’s Phap Van and My Dinh and the HCM City National University will finish next year.

BUSINESS

RoK invests in Vietnamese hospital

Hanoi (VNA) – The Republic of Korea (RoK) government has approved an official development assistance (ODA) programme for Vietnam , which includes the construction of a 500-bed hospital, according to the Korean International Cooperation Agency (KOICA).

Construction of the project is scheduled to start late this month in the central province of Quang Nam at an estimated cost of 35 million USD. 

The project will be the largest ODA project of the RoK.

KOICA will send experts to Vietnam to help in health care policies and help train Vietnamese in medical technology.

Int’l seminar on markets opens in Hanoi

Hanoi (VNA) – An international seminar on markets and development themed “Beyond Global Markets” opened in Hanoi on January 6. 

The seminar, which drew the participation of nearly 100 scientists and economists from 32 countries and territories together with 20 economic experts from Vietnamese universities and institutes, aims to collect ideas on market and development issues for proposals on new models for the economic globalisation. 

During the three-day event, the participants will focus on discussing such topics as market access and economic development, globalisation and development issues, risk management and economic crisis, business culture and communication, marketing and trademarks, global value chains, the internationalisation of enterprises, and technological renovation in developing countries. 

The seminar will also suggest measures to boost the Vietnamese economy, especially in the context of its economic restructuring after the financial crisis and its deeper integration into the global economy. 

In addition, the conference helps improve the capacity and international prestige of Vietnamese economic scientists in general and the National University of Economics in particular. 

The seminar is jointly organised by the International Society of Markets and Development (ISMD), the National University of Economics, the Schulich School of Business at Canada’s York University and the Aalborg University of Denmark.

VN-Cambodia 11-month trade hits 1.17 bln USD

Phnom Penh (VNA) - Vietnam-Cambodia trade went down 26.4 percent from the same period in 2008, to 1.17 billion USD in the first 11 months of 2009 due to impacts of the global financial crisis, a trade official said. 

Of the total, 1.01 billion USD came from Vietnamese exports, with petroleum products recording the highest turnover of 400 million USD. They were followed by building steel with 160 million USD, machinery, 35 million USD, plastic products, 32 million USD, and garment materials, 28 million USD. 

The Vietnamese commercial counsellor in Cambodia, Le Bien Cuong, said Vietnam and Cambodia are hopeful in reaching this year’s target of 2 billion USD, citing a slight recovery in two-way trade in November of 2009. 

Vietnam-Cambodia bilateral trade has grown rapidly in recent years, from just 935 million USD in 2006 to almost 1.7 billion in 2008.

Retail market keeps growing amidst global crisis

Hanoi (VNA) - Retail sales in 2009 recorded a 19 percent rise year on year, to almost 1.2 trillion VND. 

The Ministry of Industry and Trade (MIT) has reported that the retail industry has contributed almost 15 percent of the gross domestic product over recent years. It has also provided permanent jobs for over 5.4 million workers, over 10 percent of the national workforce. 

The Head of the Domestic Market Department under the MIT, Hoang Tho Xuan, reported that despite its relatively small scale, the Vietnamese retail market is still attractive to investors, especially foreigners, for consecutively being ranked high in the retail development index for a number of years 

The country came fourth in the consumer confidence index in October, 2009, against 11 th position in April, says the Nielsen Company. The market lies just behind India, Indonesia and Norway. 

The retail industry aims to increase its gross revenues by 20 percent year on year to reach 1.44 trillion VND in 2010 while keeping the consumer price index under 7 percent.

ODA disbursement hits record high in 2009

Hanoi (VNA) – The total official development assistance (ODA) capital disbursed during 2009 reached a record of 3.6 billion USD, according to the Ministry of Planning and Investment. 

Of the total, 3.25 billion USD consisted of loans and the remaining were non-refundable aids.

The satisfactory results demonstrated efforts by the Government, ministries and localities in accelerating ODA disbursement with close coordination between Vietnamese agencies and foreign donors, including institutions such as the World Bank (WB), the Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA). 

The total ODA allotment signed with donors last year reached over 6.14 billion USD, the highest level so far, with nearly 5.93 billion USD in loans and 215 million USD in non-refundable aids. 

The WB recently approved a loan of 500 million USD to Vietnam, the largest loan granted by the bank to the country. This is the first loan in the framework of the WB’s 1 billion USD public investment reform programme aiming to help Vietnam maintain its economic growth.

EVN to invest more in power projects

Hanoi (VNA)- The Vietnam Electricity Group (EVN) has reported that it is to invest almost 58.5 trillion VND in power projects this year, up 10.8 trillion VND compared to 2009. 

With its largest ever investment, the State-run conglomerate will put into operation seven power plants in Quang Ninh, Hai Phong, Nghe An and Son La provinces with a combined capacity of 2,130 MW along with 10 power grid projects of 500 kV each this year. 

The national group also has a plan to start building two power grid projects and complete the construction of a series of electricity plants such as Mong Duong 1, Vinh Tan 2, Duyen Hai 1 and Lai Chau. 

EVN has mapped out numerous measures to develop its operational plans such as raising capital, settling issues regarding investment, checking over buildings and disbursement. 

At the same time, the group has asked that the Ministries of Industry and Trade, Planning and Investment and Finance stump up more funding for its projects, especially ODA-funded ones.

Vietnam growth far stronger than expected, says Citigroup

Washington (VNA) - US financial giant Citigroup Inc. said on Jan 5 that Vietnam ’s fourth-quarter growth exceeded market expectations and the country’s full-year expansion was “far more resilient” than the rest of Asia with the exception of China . 

The economy expanded 6.9 percent on-year in the fourth quarter, up from a revised 6.04 percent in the third quarter, and grew 5.32 percent for the full year, according to figures released last week by the General Statistics Office in Hanoi . This marked a rebound after first-quarter expansion of 3.14 percent, the slowest on record. 

Johanna Chua, the Hong Kong-based head of Asian economic research at Citigroup, said Vietnam 's fourth-quarter economic growth was “much stronger than expected", adding that the country’s construction industry in particular was helped by “strong monetary and fiscal stimulus". 

Credit growth accelerated to about 38 percent last year from 25 percent in 2008. Shipments of electronic products and garments are rebounding, and overall Vietnamese exports should benefit this year from a weaker exchange rate, Chua said. 

However, she warned of rising inflation risks in Vietnam . The exchange rate of the Vietnamese dong against the dollar fell to 18,479 by the end of last year from 17,483 at the end of 2008. The currency’s weakness has probably already fed into inflation. 

Thus, according to Chua , Vietnam 's central bank will need to increase its benchmark interest rate again. In addition to raising its benchmark rate to as much as 9 percent, Vietnam ’s central bank may also abolish or revise a regulation that places a ceiling on how much interest lenders can charge borrowers.

810 mln USD for transport infrastructure in 2010

Hanoi (VNA) – The Ministry of Transport has said that about 15 trillion VND (810 million USD) will be invested in the sector’s capital construction this year.

The sector is scheduled to complete the construction and upgrade of 550km of roads and 19km of bridges, and continue investing in the rural transport network programme with funding from the government bonds.

Of the investment, 5.357 trillion VND comes from the State budget. 

The ministry has asked the Prime Minister to allocate additional 4 trillion VND to fulfill unfinished projects in 2009 and carry out urgent projects. It will also accelerate investment attraction from different sources for transport infrastructure development projects, particularly major works.

Listings bustle on Hanoi Stock Exchange

Hanoi (VNA) – There were a total of 254 listed companies on the Hanoi Stock Exchange (HNX) in 2009, up 55 percent from the previous year and worth a combined 40 trillion VND (2.2 billion USD), a year-on-year increase of 85 percent.

In 2009, HNX received listing registration documents from 104 companies and approved the listing of 69 companies, up 38 percent from the year’s target.

Shares continue New Year rally

Hanoi (VNA) – The HCM Stock Exchange continued its New Year’s rally on Jan.5, with the VN-Index jumping by another 2.99 percent to close at 532.53.

The value of the day’s trades also soared by 57.8 percent over Jan. 4’s session to more than 3 trillion VND (160.4 million USD), with 67.35 million shares changing hands, an increase of 55.3 percent.

Key shares continued to rise, with many blue chips hitting their ceiling prices, including HCM City Infrastructure Investment (CII), Da Nang Rubber (DRC), Tan Tao Investment and Industry (ITA), Kinh Bac Co (KBC), and Vietnam-Italy Steel (VIS).

On the Hanoi Stock Exchange on Jan. 5, the HNX-Index saw a more modest gain of 1.9 percent, closing at 183.26 points. Trading value also rose by 51.2 percent to over 1.32 trillion VND (70.6 million USD), on a total volume of nearly 37.3 million shares.

PetroVietnam Construction (PVX) remained the most active share on the northern bourse, with 4.53 million changing hands. 
The Hanoi bourse on Jan. 5 welcomed the listing of 3 million shares by Vietnam Construction Co No 12 (V12). V12 closed at 37,100 VND (1.98 USD) per share on a volume of 72,500.

Positive economic data, including sustained growth and low inflation – in addition to solid earnings by listed companies – was increasing investor confidence in the stock market, said analysts from Dai Viet Securities Co.

The forthcoming shutdown of gold trading floors and an impending regulation allowing faster clearance of shares were also encouraging investors to return to the market, they added. 

Dinh The Hien, a HCM City-based financial expert, believed the stock market in 2010 would be lucrative for investment in light of the frozen real estate market and new limits on the gold market.

Bao Viet Securities Co analyst Nguyen Duc Thi also predicted that securities companies would resume offering financial leverage to clients in the new year, generating greater capital flows into the market.

But Thi reckoned the market would soon see some correction in the short term as a result of feverish gains in some sessions. He advised investors look to sound shares with high potential in such fields as financial, real estate, raw materials, and consumer goods.

After three net selling sessions, foreign investors on Jan. 5 returned to being net buyers on both bourses by a volume of 806,260 shares.