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PM ratifies dismissal of Ha Giang’s chairman
Hanoi (VNA) – Prime Minister Nguyen Tan Dung has signed a decision ratifying the dismissal of Nguyen Truong To from the chairmanship of the People’s Committee of the northern province of Ha Giang during the 2004-2011 term for disciplinary violations.
Earlier, on July 21, 2010, PM Dung signed a decision to suspend To from the position of chairman of the provincial People’s Committee.
The Ha Giang People’s Council voted to dismiss To from the chairmanship of the provincial People’s Committee and from the council’s membership at its irregular meeting on July 28.
To was also dismissed from the Communist Party of Vietnam following a decision issued on July 19 by the Party Central Committee’s Secretariat.
According to the decision, To’s dismissal from the Party was a result of his ‘very serious’ violations in terms of morality and lifestyle that caused discontent in the Party and society.-Enditem
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Nagasaki marks 65th anniversary of atomic bombing
Hanoi (VNA) - Japan's Nagasaki marked the 65th anniversary of the US atomic bombing of the city on August 9 with the participation of representatives from 32 countries, including two nuclear weapons states - Britain and France - for the first time.
International Atomic Energy Agency Director General Yukiya Amano was among the first attendees at the ceremony.
The peace ceremony began with a choir performance by a group of atomic bomb survivors and the offering of wreaths. A moment of silence took place at 11:02 a.m., the time that the atomic bomb detonated 65 years ago, killing about 74,000 people of the city.
Nagasaki Mayor Tomihisa Taue appealed to the world to work toward the elimination of nuclear weapons and to the Japanese government to demonstrate its leadership on the issue on the 65th anniversary of the US atomic bombing of the city during World War II, according to Kyodo News.
Prime Minister Naoto Kan in his speech said he will work with the two Japanese cities that suffered atomic bombings and make efforts in translating atomic bomb survivors' testimonies into major languages.
PM Kan also said Japan has a moral responsibility to take the lead in moves to realise a world without nuclear weapons as a country that has experienced atomic bombings.
On behalf of the atomic bomb survivors, Yasunobu Uchida, 81, who was exposed to the atomic bomb as a 16-year-old, said, ''It is now time for Japan to stand at the forefront and lead the world toward abolition and a total ban on nuclear weapons.''
The ceremony in Nagasaki took place three days after a ceremony to mark the atomic bombing of Hiroshima that was attended by a US ambassador for the first time.
Last week, UN Secretary General Ban Ki-moon visited Nagasaki and met victims of the bombing and attended the ceremony in Hiroshima.-Enditem
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Shares sink to year-low on massive sell-off
Hanoi (VNA) - The VN-Index sank on August 9 to 472.74 – its lowest point of the year – after shedding 10 points, 2.09 percent down on last week's close.
The fall was the largest for two months.
Meanwhile, market liquidity rose on the HCM Stock Exchange, with 43 million shares changing hands, worth nearly 1.2 trillion VND (63.2 million USD), an increase of more than 18 percent in volume and 16 percent in value over the previous day's levels.
Decliners outnumbered gainers by 224-16, with 73 codes hitting their floor price. Refrigeration Electrical Engineering Corp (REE) was the most active share in terms of volume, with more than 1.7 million changing hands. Its share price lost 3.4 percent to close at 17,000 VND (0.89 USD).
On the Hanoi Stock Exchange, the HNX-Index dropped 2.9 percent to close at 141.9 – its lowest point since December 18 2009. Trading volume rose 30 percent to nearly 35.8 million shares, worth a combined 934 billion VND (49.2 million USD), an increase of 27 percent over the previous day's value.
Market performance was negative with 251 shares declining, 44 advancing and 13 closing unchanged. PetroVietnam Construction (PVX) continued to top market volume, with 4.32 million shares changing hands. However, share value sank 4.71 percent to close at 24,300 VND (1.28 USD).
Bac Viet Steel Co (BVG) listed 9.7 million shares – its first floatation on the northern bourse. About 13,000 units changed hands, ending the day's trade at 21,000 VND (1.11 USD).-Enditem
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Taiwan giant to lift investment in steel project, port
Ha Tinh (VNA) — Taiwan 's Formosa Heavy Industry Group plans to raise its investment capital in its iron and steel complex and Son Duong deep-water port in the Vung Ang Economic Zone from 16 billion USD to 23 billion USD, according to the Ha Tinh Provincial People's Committee.
Vo Kim Cu, chairman of the committee, said the group made the announcement at a meeting with the provincial People's Committee late last week.
The group said it would build its first wharf in 36 months and an iron foundry and steel mill within 48 months.
In the first phase, the iron foundry and steel complex will have a combined output of 7.5 million tonnes a year, while the deep-water port will be able to handle 27-30 million tonnes of cargo.
In the second phase, the iron and steel plant will lift its capacity to 15 million tonnes per year, while the Son Duong deep-water port will have a designed discharge capacity of 55-60 million tonnes per year.
So far this year, the group has invested nearly 200 million USD, including more than 30 million USD in land rental in Ha Tinh.
The Vung Ang Economic Zone's Management Board granted the investment licence for the project's construction in June 2008.
The project will occupy a total area of more than 3,000ha – 1,000ha of which will be in Vung Ang Economic Zone. Ships of 200,000 tonnes to 300,000 tonnes will be able to dock at the port.
The project's first phase has an investment capital of 8 billion USD, 95 percent of which has come from the Formosa group and the remainder from Sunsco Holdings Co.
When completed, the iron and steel plant will be the largest in ASEAN and one of the 15 largest in the world.
The plant's products will include steel ingots, rolled steel, steel rods and finished steel products. –Enditem
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Southern real-estate firms see Hanoi as land of opportunity
Hanoi (VNA) — Highly professional southern real estate firms are heading north, attracted by the residential property market in Hanoi where demand exceeded supply, said Nguyen Tran Nam , Deputy Minister of Construction.
Nam said the real estate market in Hanoi has an unsatisfied demand for apartments and houses, made worse by the fact 800 apartment and house projects have been placed on hold until the capital's 10-year urban development plan is completed.
Southern trademark real estate firms see great potential in Hanoi where similar brands were lacking and real estate projects being developed by companies that were former State-owned enterprises.
Marketing and sales activities in the real estate market are not strong in Hanoi , he said.
One of those heading north is the Green Land Group, which has launched its Northern Green Land Real Estate and Service Joint Stock Company in Hanoi .
"Property enterprises in Hanoi have ignored the property segment for low-income people," said Luong Tri Thin, Green Land Group general director.
The expansion of Hanoi in 2008 brought many opportunities for developing urban projects, Thin said, adding however, there are many differences in development and the business culture between Hanoi and HCM City that had to be overcome.
Customers in the north are not so open-minded, which makes contact with them difficult and requires a period of education and the use of the local workforce.
Nguyen Do Viet, deputy director of the Song Da Thang Long Joint Stock Company, said the answer to that problem is for southern companies to cooperate with northern partners, initially.
"The experiences of northern firms would be useful," Viet said "Meanwhile, the northern firms will have to improve their operations and business methods to compete against southern rivals which have professional operations," Viet said.
Another firm to see the potential in the north was the HimLam Land Trading Corporation.
The HimLam Land Real Estate Trading Floor in Hanoi opened in May and sold around 20 apartments in the company's Him Lam Riverside resident apartment project, said Nguyen Ngoc Thuy, HimLam Land general director.
Marc Townsend, CB Richard Ellis Company Ltd managing director, said foreign investors who went to HCM City first would move investment to Hanoi .
Hanoi has potential and is a good investment opportunity for foreign investors, Townsend said. –Enditem
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Hike in fuel price reflects global rises
Hanoi (VNA) — Domestic petrol and oil retail prices rose on August 9 by 410 VND and 400 VND per litre, respectively, announced the Vietnam National Petroleum Corporation (Petrolimex), the largest fuel retailer in the country.
The prices of A95 and A92 petrol are now 16,900 VND and 16,400 VND a litre, while the prices of kerosene and diesel have risen to 15,100 VND and 14,700 VND.
Meanwhile, the wholesale price of fuel oil dropped 310 VND to between 12,690 VND to 12,990 VND a litre.
Bui Ngoc Bao, chairman of Petrolimex, said fuel hikes reflect global price rises.
Retailers have offset their loses by boosting sales of other products, Bao said, adding that retailers have been incurring losses of 500 VND per litre of oil sold domestically.
The global crude oil price soared sharply on August 9 to 81.77 USD per barrel, which was blamed on comments by the Federal Open Market Committee hinting at possible measures to lift the US economy after meeting with the Federal Reserve.
Earlier, the Ministry of Finance had asked retailers not to adjust fuel prices more than twice a month. It had also asked to be notified of price changes in an effort to control supply and demand. -Enditem
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5,000 flood-prone families need relocation: official
Quang Nam (VNA) - In the flood-prone central province of Quang Nam , a further 5,000-odd households need to be relocated to safe areas, an official said.
Nguyen Van Gap, head of the Department of Agriculture and Rural Development's Rural Development Division, said the province has several major rivers and streams which often flood in the rainy season, causing landslides and threatening lives and properties.
"Of the province's 18 districts and cities, 17 have had landslides or face the danger of landslides."
Since 1997 his division has joined local authorities to relocate more than 16,000 families at a cost of 29 billion VND (1.5 million USD), he said.
The province has also spent tens of billions of dong on building embankments along rivers and 100 new residential areas for more than 4,000 relocated households, he said.
In Dai Loc District in the downstream of the Thu Bon and Vu Gia Rivers, they have relocated nearly 1,000 families from 700 spots where there have been river and mountain landslides since 2001.
"The district has [another] 400 households living in landslide-prone areas," Phan Duc Tinh, deputy chairman of its People's Committee, said.
In the district's Dai Hong Commune, which has a 16-km stretch of the Vu Gia River, around 100ha of farmlands have been lost due to riverbank erosion since 2001.
Dang Van Ky , chairman of the commune People's Committee, warned that without proper protective measures, Ngoc Thach and Dong Phuoc hamlets will lose 300ha of farmlands to erosion.
Nguyen Thi Van, whose house is near the Vu Gia River in Dai Lanh Commune's Ha Duc Dong Hamlet in the same district, said: "We heard that local authorities are planning to move households here to safe areas but the relocation has not been carried out yet."
According to the Rural Development Division, the amount the province needs for relocating all threatened families is 10 billion VND (520,000 USD) a year. But since only 3 billion VND is earmarked, priority is given to households in high-risk areas.
Besides, with the amount of available land being limited, it is becoming hard for authorities to allot enough land for the relocated people's housing and production needs. Many have got only 150-200sq.m, just enough for housing. –Enditem
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Dak Lak brocade artisans teach craft to youngters
Dak Lak (VNA) – Veteran artisans are passing on their traditional craft of brocade to younger generations to save it from decline in village programmes organised by districts in the Central Highland province of Dak Lak .
Artisans from ethnic groups like the E-de, M'nong and Gia Rai are organised into groups in each district and town.
Participating towns include Buon Ma Thuot City, Buon Don, Buon Ho, Ea Sup, Chu M'ga, Krong Buk, Ea H'leo, Lac and Krong Ana, among others.
In the Buon Ma Thuot's wards of Ea Kao, Ea Tu and Ea Tam, newly-introduced brocade co-operatives have attracted dozens of locals who make items for commercial purposes.
In Ea Tu Ward, up to 70 percent of the local population is making brocades on a regular basis, with each household typically having two looms and three female weavers.
Apart from the usual household items, other decorative items are made for sale, including bags, tablecloths, bedcloths and curtains.
The brocade items are traded within the community and sold to tourists, hotels and restaurants. They are also bought in the markets of Lam Dong, Khanh Hoa and even HCM City .
The districts and towns have held brocade-making contests to promote the craft in local villages and encourage youth to learn it.
Also, six-month brocade courses are being held by a provincial junior college of vocational training for ethnic youth in the outlying villages of Buon Don, Ea H'leo and Lac districts.
Graduates from the classes are given loans of 4 million VND (200 USD) to buy equipment so they can increase their income.
The production of brocade cloth, which has characteristic patterns, is part of the culture of ethnic groups in the Central Highlands. The craft has been shunned by many youth, who have turned to occupations that have a higher income. -Enditem
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Nagasaki marks 65th anniversary of atomic bombing
Hanoi (VNA) - Japan's Nagasaki marked the 65th anniversary of the US atomic bombing of the city on August 9 with the participation of representatives from 32 countries, including two nuclear weapons states - Britain and France - for the first time.
International Atomic Energy Agency Director General Yukiya Amano was among the first attendees at the ceremony.
The peace ceremony began with a choir performance by a group of atomic bomb survivors and the offering of wreaths. A moment of silence took place at 11:02 a.m., the time that the atomic bomb detonated 65 years ago, killing about 74,000 people of the city.
Nagasaki Mayor Tomihisa Taue appealed to the world to work toward the elimination of nuclear weapons and to the Japanese government to demonstrate its leadership on the issue on the 65th anniversary of the US atomic bombing of the city during World War II, according to Kyodo News.
Prime Minister Naoto Kan in his speech said he will work with the two Japanese cities that suffered atomic bombings and make efforts in translating atomic bomb survivors' testimonies into major languages.
PM Kan also said Japan has a moral responsibility to take the lead in moves to realise a world without nuclear weapons as a country that has experienced atomic bombings.
On behalf of the atomic bomb survivors, Yasunobu Uchida, 81, who was exposed to the atomic bomb as a 16-year-old, said, ''It is now time for Japan to stand at the forefront and lead the world toward abolition and a total ban on nuclear weapons.''
The ceremony in Nagasaki took place three days after a ceremony to mark the atomic bombing of Hiroshima that was attended by a US ambassador for the first time.
Last week, UN Secretary General Ban Ki-moon visited Nagasaki and met victims of the bombing and attended the ceremony in Hiroshima.-Enditem
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Vietnam - attractive destination for tourists, investors
Washington (VNA) -- Major changes during the past three decades have made Vietnam an attractive destination for tourists, investors, and businesses worldwide, affirmed Research and Markets company.
In its July 2010 report on Vietnam Investment Environment, the leading supplier of international market research and market data, added that Vietnam is a developing and an ambitious country. There are many stories about this S-curve shape country in Southeast Asia . Most of the time Vietnam is known to the world thanks to Vietnam War. But Vietnam has many more to offer.
In the summary report posted on "http://www.researchandmarkets.com", the company is in the opinion that it is worth risk taking for making investment or doing business in Vietnam , where a market economy began in early 2000s and the government started the Renewal Process since 1986 - the greatest transformation of the country since the 1975 reunification. It said WTO entry in 2007 let Vietnam further integrate into the global economy.
The report examines both the investment environment in Vietnam which is applicable to overseas investors and the landscape of international investment conducted by Vietnamese enterprises recently.
It provides details on key macroeconomic indicators, trends of foreign investment in Vietnam , taxation issues, and banking system. It also provides details on legal basis, forms of foreign investment, merger and acquisition, regulation and licensing in telecommunications, privatisation and liberalisation of the telecom market, and the new telecommunications law.-Enditem
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Contract worth over 457 bln VND signed Techmart 2010
Quang Ninh (VNA) – A total of 188 contracts and memoranda of understanding worth a total 457.5 billion VND were signed at the Red River Delta region’s technology and equipment fair, which closed in Quang Ninh province on August 9.
Two hundred booths of 180 organisations at home and abroad offered 1,000 items of technologies and equipment at the fair, Techmart Quang Ninh 2010.
They includes products of agro-forestry-fisheries, food and beverage, mechanics and mechanical engineering, electricity and electronics, information technology and telecommunications, environmental treatment, health and pharmaceutical sectors.
The five-day fair attracted over 70,000 visitors.-Enditem
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APEC finance ministers to meet in Hawaii in 2011
Washington (VNA) - The United States will host finance ministers meeting of the 21-member Asia-Pacific Economic Cooperation (APEC) forum on Nov. 10, 2011, ahead of the APEC summit, in Honolulu , Hawaii , the Treasury Department has said.
The press office's Aug. 9 statement said that the White House previously announced that the 2011 APEC Leaders' Meeting will take place in Honolulu from November 12-13, 2011.
It said: "As President Obama has said, the United States is a Pacific nation whose economic ties to the Asia-Pacific region are strong, enduring, and critical to the prosperity of the American people.
"The United States will use the opportunity of chairing APEC in 2011 to highlight the vast potential the Asia-Pacific region holds for American companies and workers, to help shape the future of Asia-Pacific's regional architecture and to promote APEC's core mission of spurring mutually beneficial regional economic cooperation."
The 21-member grouping includes Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, the Republic of Korea, Taiwan, Thailand, United States, and Vietnam.-Enditem
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