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HCM City sees prices increase by 0.45 percent
HCM City (VNA) – Ho Chi Minh City ’s October consumer price index posted a slight increase by 0.45 percent against last month, according to the municipal Statistics Department.
The prices of cigarettes and beverages recorded the highest rise of 1.30 percent.
Remarkable rises were also seen in housing, electricity, fuel and construction materials, up 1.16 percent, and food and restaurant service, 0.51 percent.
According to experts, rice prices are standing at high levels due to high demand for export in the remaining months of the year.
Vietnam ’s export rice price is at the same level with Thailand ’s, with price of rice with 5 percent of broken rice standing at 475 USD per tonne.
It is predicted that the price of rice in the city will continue to increase slightly.
Gold surged 8.09 percent over the previous month due to the increase in the world’s gold price while the US dollar value rose by 0.89 percent.-Enditem
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Da Nang to host int’l fireworks contest
Da Nang (VNA) - A two-day international fireworks contest with the theme “Han River” will be held in the central city of Da Nang from April 29-30, 2011.
Da Nang Authorities has announced the participation of four foreign teams including the Republic of Korea (ROK), China , Italy and the United Kingdom (UK) besides the host Da Nang team.
According to the schedule, the UK team (Jubilee Fireworks company), the RoK team (Hanwha Group) and the host Vietnam ( Da Nang city’s team) will perform in the first night. The second night will see fireworks set off by the Italian team (Parente Fireworks A&C SNC Group) and the Chinese team (Panda Fireworks Art Display company limited).
Along with this activity, Da Nang has also launched a contest of fireworks display on computer in 2011 with deadline for entries on December 31 this year.
The awarding ceremony is expected to take place in January 30, 2011.-Editem.
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WTO begins hearing on Vietnam’s shrimp lawsuit
Geneva (VNA) – The World Trade Organisation (WTO) panel on October 20 began a hearing on Vietnam-filed lawsuit against the US imposition of anti-dumping measures on its shrimp, in Geneva , Switzerland .
The panel includes three members, appointed by WTO General Director Pascal Lamy in late July and responsible for assisting the WTO Dispute Settlement Body (DSB) in making rulings or recommendations. The panel started to consider the lawsuit since the two sides submitted their documents in late August.
On the first day of the hearing, the Vietnamese delegation presented evidence and arguments asking for protection of legitimate rights for Vietnam ’s shrimp exporters. The US sides also gave evidence to protect US shrimp raising farmers’ benefit.
The hearing continues on October 21.
Vietnam and the US held consultations on the issue in March this year, but they failed to reach any consensus.
Vietnam brought the issue to the WTO panel in order to demand the US change its use of a method known as “zeroing” on Vietnam ’s shrimp, particularly in regular assessment in accordance with the US law.-Enditem
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Northern province boosts cross-border trade
Lang Son (VNA) – The northern province of Lang Son has been taking numerous breakthrough solutions in order to push up the cross-border trade to neighbour China and develop the border areas’ infrastructure.
Sharing more than 200 km of the border line with China ’s Guangxi province, Lang Son has two international and two local main border gates to China , not mention to auxiliary ones. With motorway and railway systems, the province is one of the major centres for the economic cooperation between Vietnam and ASEAN with China , and also the first tip in the economic corridor connecting Lang Son, Hanoi , Hai Phong city and Quang Ninh province of Vietnam with Nanning city of China .
With its geographic advantages, Lang Son has become a big entrepot of Vietnam and ASEAN countries to China .
According to Bui Gia Tuan, Deputy Director of the provincial Department of Industry and Trade, the cross-border trade between Lang Son and Guangxi has been strongly developing with the export-import turnover increasing. The foreign investment, mostly from Guangxi and other Chinese localities, so far has reached nearly 200 million USD injected in 30 projects; and the import-export turnover was 1.5 billion USD.
The province’s export staples to China include farming, forestry and fishery products, minerals and consumer goods. The locally-processed products include star aniseeds, resin, medicinal herbs, metal ores, and wood chips fetching 36 million USD in the first nine months, up 40 percent over the same period last year. The import staples include machines, equipment, steel, vans and transport facilities, fruits and consumer goods.
Ha Hong, Vice Head of the Dong Dang Border Economic Zone Management Board, said Lang Son plans to develop the Dong Dang EZ to an economic complex. It will push up investment and exploit potentials with the aim of becoming key part of the northern economic quadrangle of Lang Son-Hanoi-Hai Phong-Quang Ninh.
The province will facilitate investment in socio-economic infrastructure projects, and give more incentives to domestic and foreign exporters-importers doing business via the province.
Lang Son has recently organised a seminar on accelerating export-import on the occasion of the 60th anniversary of diplomatic ties between Vietnam and China.-Enditem
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Hanoi sees strong rise in industrial production
Hanoi (VNA)- Hanoi ’s industrial sector has seen robust growth in the first ten months of 2010, recording a production value of over 86 trillion VND, a year-on-year increase of 13.8 percent, according to Hanoi Statistics Department.
The foreign-invested sector showed a 6.4 percent increase to achieve an output of 38.4 trillion VND, while both the state-owned and non-state business sectors enjoyed a 4.4 percent increase.
Many processing industries witnessed high increasing rates with the most impressive growth seen in beverage production with 17 percent.-Enditem
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Cambodia expects to export rice to China
Phnom Penh (VNA) – Cambodia expects to export rice to China in 2010 following a trade deal set to be signed during this week, said Cambodian Prime Minister Hun Sen.
The deal is part of the Cambodian government’s strategy to expand export activities to its non-traditional markets, looking into markets in Asia – which have recovered quickly from the global financial crisis, according to the PM.
The Chinese Embassy in Cambodia said a delegation from the Chinese government is going to visit Phnom Penh and sign a special preferential deal on Cambodia ’s rice export to China .
The Chinese market is currently close to Cambodia ’s rice and the deal is expected to pave the way for other farm produce from the Southeast Asian nation to enter this huge market.
Cambodia has a great potential for rice production with 80 percent of the population being farmers. In August, the government set the target to become one of the world’s key rice exporters by 2015.
Under the target, Cambodia will expand exports to the Asian market along with existing traditional markets such as the United States and the European Union.-Enditem
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Canon presents books to disadvantaged schools
Hanoi (VNA) – Canon Singapore in Vietnam will present more than 40,000 titles of books to ten primary and junior secondary schools in disadvantaged areas.
Two beneficiary schools in the northern province of Bac Giang received the books on Oct. 19, marking the launch of the company’s “Green Library for Kids” programme. Eight other schools in Phu Tho, Thai Nguyen, Ben Tre and Tien Giang will get the books within this month.
Canon will also give each school two bookshelves and 100 pictorial books on Vietnam ’s nature and environment.-Enditem
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Training course on waterway transport safety for children
An Giang (VNA) – A training course to ensure children’s safety on waterway transport opened in the Mekong delta province of An Giang on Oct. 20.
During the three-day training course, 50 provincial police will be briefed of the situation of the country’s waterway accidents over the past years, river transport safety policies and regulations on wharves and transport vehicles.
They will also make a fact-finding tour to river wharves in Long Xuyen city and discuss measures to prevent children drowning, particularly for those who have to go to school by boat.
The course is being held by the United Nations Children’s Fund (UNICEF), the Ministry of Transport and Communication and the An Giang Traffic Safety Committee.-Enditem
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Turbulence injures 21 on VN Airlines' Paris flight
HCM City (VNA) -- Eighteen passengers and three crew members were injured by severe turbulence on Oct. 20 while on board Vietnam Airlines Flight VN535 from Hanoi to Paris .
The flight operated a Boeing 777-200 aircraft and was carrying 222 passengers and 15 crew members.
Immediately after the incident, the captain and Vietnam Airlines Operation Control Centre requested that local airport authorities be prepared with medical assistance upon landing.
The crew provided first aid and took other necessary measures to all injured passengers while the plane continued its route to Paris , finally landing safely at Charles de Gaulle Airport.
All 21 injured passengers and crew members were taken to the airport clinic for medical evaluation, and nine were later sent to a local hospital for treatment.
As of 8pm October 20, most of the injured had been discharged from the hospital and are expected to recover soon.
A press release from the carrier said that all remaining passengers were safe and unaffected.
The aircraft is currently grounded at Paris Charles de Gaulle Airport and will go through further evaluation and maintenance before returning to Vietnam .
Vietnam Airlines is proactively co-operating with local authorities and insurance partners to complete necessary formalities and to provide further assistance to passengers.-Enditem
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000 Vietnamese workers sent to RoK this year
Hanoi (VNA) -- The Ministry of Labour, War Invalids and Social Affairs (MoLISA) announced that more than 5,000 Vietnamese workers have been hired to work in the Republic of Korea (RoK) since the beginning of the year.
While there are only half as many workers employed in the RoK as there were in 2008, ministry officials believe it is a positive sign that the overseas job market is improving despite the global economic downturn.
Pham Van Minh, director of the Overseas Employment Centre under MoLISA's Overseas Employment Management Department, said that the increasing demand for work in
RoK has prompted the ministry to organise two Korean language tests, instead of one as usual, for candidates this year.
"Only candidates that passed the language exam are qualified to apply for jobs in RoK," said Nguyen Ngoc Quynh, head of the Overseas Employment Management Department.
The multiple-choice Korean language test was organised in four cities and provinces including Hanoi , Nghe An, Da Nang and HCM City earlier this month. More than 27,000 candidates were qualified to take the test. Most candidates applied for industrial jobs, construction work and agricultural positions.
Quynh said the test results would be provided by RoK officials in early November.
Jung Ill Sung, head of the RoK's Migrant Workers Management Department, said about 80 percent of the people who passed the exam would be hired by Korean employers.
The Overseas Employment Office reported that since August 2004, 47,533 people have been sent to work in RoK.-Enditem
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VN to open up booming express delivery market
Hanoi (VNA) -- As part of its accession plans in the World Trade Organisation, Vietnam has committed to liberalising the express delivery market to level the playing field for both local and foreign express delivery companies.
Vietnam plans to open its market in 2012 to allow joint-ventures to be made with 51 percent foreign investment capital or to establish wholly-foreign companies in the next five years, according to Paul Needham, chief editor of CEP-Research, the first internet portal specialised on the courier, express and postal market.
The country's revenue in express delivery has grown steadily from 50 million USD in 2007 to around 200 million USD in 2010. In urban areas where the abundance of enterprises means express delivery is in high demand, expenditure is estimated to reach between 10-100 million VND per unit (512-5,120 USD).
According to HCM City 's Department of Planning and Investment, the increasing number of businesses joining in express delivery service are not yet accounted for.
Big domestic and foreign companies including VNPost Express, Saigon Post, Viettel, and multi-nationals like TNT, DHL, FedEx and UPS are operating in a joint-venture model.
These companies are more powerful in technology and finance than the remaining small-scale companies in the country.
Meanwhile, companies with domestic prestige like Tin Thanh, Netco, Nasco, Hop Nhat, 247 Express and 365 Express account for 20 percent of the market share.
The domestic companies are experienced with long-term development from three to 10 years; however, they are unable to compete with foreign express delivery companies who have powerful international networks.
The country's exports are expected to reach 8.8 percent in 2010 and the swift movement of goods both domestically and internationally is key to facilitating and enhancing economic growth that will generate more opportunities for express delivery services.
The four leading express delivery companies, DHL, TNT, FedEx and UPS, have expanded their network in Southeast Asia in order to get a firm foothold in this market.
They have invested in their network, equipment and services as well as expanded their aviation network in Singapore , Indonesia , Malaysia , Thailand and recently Vietnam – a newly emerging market.
International express delivery companies have entered the logistics services market, which has been growing quickly in Vietnam .
Onno Boots, regional managing director of TNT Southeast Asia and India , said " Vietnam has tremendous growth potential and occupies a strategic position in Asian trade being so close to China ."
In Southeast Asia and Vietnam , TNT has been expanding its network and service in a unique way. It has focused its efforts on developing a cost efficient road network service that links seven countries and 127 cities across Southeast Asia and China , including Vietnam – a total distance of more than 7,650km.
Its unique road network is linked to its air network, thereby enabling customers to choose from a wider variety of transports that suit their needs – by air, road or a combination of both.
Today, TNT has launched an expanded and newly-designed integrated air and road hub located at ICD My Dinh, Hanoi , to handle soaring freight volumes. — Enditem
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Floor prices set for tra fish exports
HCM City (VNA) -- Minimum export and procurement prices for tra catfish will be set at the beginning of next year to help both breeders and processors avoid losses, says a senior official.
Duong Ngoc Minh, deputy chairman of the Vietnam Association of Seafood Exporters and Producers (VASEP), said at a meeting held on Oct. 19 that the US market would be excluded from the above arrangement.
The meeting heard that exports of the tra fish are not likely to meet this year's target of 1.5 billion USD because of declining prices and orders.
In the first nine months of the year, 472,586 tonnes of the fish worth 1 billion USD were exported, and the remaining half a billion cannot be managed in the remaining three months, the association said.
Minh said at the meeting that, normally, the quantity of tra fish exported between July to October was higher than the previous months of the year.
But the trend was reversed this year because export orders during this period fell compared to the same period last year. Furthermore, export prices of tra fish, including to the US market, had fallen since early this year to record lows.
The situation was exacerbated by the US imposing an anti-dumping tariff of 130 percent on Vietnamese tra fish, and several other markets had also set up technical barriers to limit imports.
Several countries including Thailand , Malaysia , the Philippines and Indonesia , had also developed tra fish breeding with financial support from their governments, adding to market supply.
VASEP estimates the value of tra fish export this year to reach about 1.37 billion USD.
From the beginning of 2011, minimum export and procurement prices would be set for tra fish, excluding the US market, Minh said.
For other markets, a minimum export price of 2.8 USD per kilo would be set while breeders selling the fish would earn a minimum price of 20,000 VND (1 USD) a kilo.
"The regulation on floor prices aims to bring the price of tra fish to its true value and ensure profits for both breeders and processors, "Minh said. It would also help avoid unhealthy competition which leads to reduction in export prices and affects the quality of tra fish products, he added.
The purchase price of tra fish is now 18,500 VND (0.9 USD) per kilo and the average export price is 2.7 USD per kilo.
At Oct. 19's meeting, VASEP also petitioned the Ministry of Agriculture and Rural Development to add tra fish to the list of products subject to conditional exports.
This would require processors to meet certain criteria to be able to export tra fish, including having an export contract for six months and more, and having their product quality registered and inspected. World demand for trafish is now increasing as the supply of China 's tilapia and the Philippines ' tuna have been declining due to inclement weather. However, domestic output of tra fish has been low because about 30 percent of breeders have abandoned their ponds this year after suffering severe losses from falling prices. In this situation, seafood processors have said they are likely to face a shortage of raw materials next year.
They estimate tra fish output at 1 million tonnes next year while they have a total processing capacity of more than 2 million tonnes.-- Enditem
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Southern commodities exchange to open soon
HCM City (VNA) -- The Ministry of Industry and Trade has issued a licence to the HCM City-based Trieu Phong Commodity Exchange (TPE), which is expected to open early next year.
The first such exchange licensed in the country, it will initially trade in steel, rubber, and coffee, according to its general director, Nguyen Duy Phuong.
It will also provide an additional financial tool for producers and traders to protect themselves against price fluctuation risks. Futures contracts, swaps, and forward trading will all be available.
The exchange will help boost the trademarks of participating members, including in foreign markets, disseminate global market information, and act as a clearing and settlement intermediate. Also on October 20 Trieu Phong Commodity Exchange inked several agreements.
Under separate contracts, the Bank for Investment and Development of Vietnam and Techcombank agreed to provide services like payment and loans. SME Securities Company will consult TPE in issuing shares and listing on one of Vietnam 's stock exchanges, and in developing derivatives.
It also entered into a memorandum of understanding with the Singapore-based CWT Commodities, which specialises in handling and storage of ferrous and non-ferrous metals and other commodities.
The HCM City-based Institution of Information and Business Research agreed to become a partner.
The exchange's trading system will be supplied by a British company which has provided comprehensive solutions to around 20 exchanges worldwide.
TPE has a charter capital of 150 billion VND (7.5 million USD) and the figure is expected to double in 2012.
It hopes to become a limited liability company firm in 2014.- Enditem
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