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East Sea seminar talks dispute-solving mechanisms
Washington (VNA) – The effectiveness of current maritime security mechanisms in the East Sea has been assessed at a conference, hosted by the Center for Strategic and International Studies in Washington, the US, on June 20-21.
The conference, titled “Maritime Security in the South China Sea (the East Sea)”, also heard proposed policy recommendations to enhance security in the region among more than 100 participating scholars, experts, officials and reporters.
Regarding the current mechanisms employed for handling disputes in the East Sea, Professor Peter Dutton from China Maritime Studies Institute, US Naval War College, pointed to the Convention on the Law of the Sea (UNCLOS) and the Declaration on the Conduct of Parties in the East Sea (DOC).
He said UNCLOS is quite clear that a state jurisdictional claim over resources must be based on its coastal geography.
"China's expression of jurisdictional maritime claim in the South China Sea as a U-shaped line of dashes without any direct or even indirect reference to a feature of its coastal geography or the base line for that matter is therefore a fundamental violation of international law in the norms of expected state behavior as expressed in UNCLOS", Dr. Dutton said.
"This U shaped line is one of the two major sources of disputes" in the East Sea, he pointed out, saying there never lacks ideas for solving disputes but the political will.
Referring to a mechanism on joint exploration, almost all scholars shared the opinion that the mechanism failed to work as concerned parties could not reach the final defining for areas of disputes and areas without disputes.
Many of the scholars called for the settlement of disputes by multilateral mechanisms and international laws./.
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Strong earthquake strikes Japan
Tokyo (VNA) – A 6.7 magnitude earthquake occurred offshore Japan’s northeastern prefecture of Iwate early June 23 (Vietnamese time), said the Japan Meteorological Agency.
The epicentre was monitored at 39.9 degrees north latitude and 142.6 degrees east longitude with a depth of 20 km on Pacific Ocean, said the centre.
A tsunami warning was issued for the Pacific coast of Iwate prefecture but it was then withdrawn.
According to Japan broadcasting corporation NHK, the Iwate authorities asked for an evacuation of some 8,000 households to safe areas, adding that no casualties and property losses caused by the earthquake have been reported to date.
Earthquakes measuring 4 and 5 on the Richter scale were recorded in many other localities, including Aomori, Miyagi and Akita prefectures and Morioka city./.
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Vietnam to compete at world Sepak Takraw event
Hanoi (VNA) - Vietnamese athletes are ready to compete at the World Sepak Takraw Championship in Kuala Lumpur , Malaysia from July 21-24.
The event will attract 32 teams from 25 nations and territories such as Australia , China , Germany , India , Iran and Indonesia . It will be broadcast live in 66 countries.
The event will be a good warm up for top teams before the International Sepak Takraw Federation's Super Series in Bangkok this September./.
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American Idol's Archuleta to perform in VN
Hanoi (VNA) — The first runner-up in American Idol 2008, David Archuleta, will be performing for the first time in Vietnam at the Idol Music Event next month.
The 21-year-old pop singer and songwriter were among the youngest contestants in the seventh season of American Idol in 2008. In the final he won 44 percent of the 97 million votes cast by the public.
In the same year he released his debut album Crush, which reached No 2 on the Billboard 200 chart. The album has now sold more than 750,000 copies in the US and 900,000 worldwide.
Archuleta will be performing at HCM City 's Military Zone 7 Stadium on July 22 and at the Giang Vo Exhibition Centre in Hanoi on July 24. He is scheduled to sing between 10 and 12 songs, including the ones featured on his 2010 album The Other Side of Down, which ranked 13th in the Billboard Top 200.
Several popular Vietnamese singers, including Ho Ngoc Ha, Ho Quynh Huong, Dam Vinh Hung and first runner-up in Vietnam Idol 2010 Van Mai Huong, will share the stage with Archuleta.
About 12,000 tickets for the performance in HCM City and 4,500 for the show in Hanoi will be available at the end of this month.
The winner of American Idol 2008, David Cook, performed in Vietnam at the H-Artistry music concert last week./.
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Belgium pledges 86mln USD in development aid
Hanoi (VNA) — Vietnam will receive an official development assistance fund of 86.2 million USD under a new cooperation agreement signed with Belgium in Hanoi on June 22.
The agreement on a new indicative co-operation programme for 2011-15 between Belgium and Vietnam was signed by Vietnam 's Ministry of Planning and Investment and the Kingdom of Belgium 's Directorate General for Development.
The fund is expected to be mainly used to improve sectors of water and sanitation and governance in Vietnam .
Deputy Minister of Planning and Investment Cao Viet Sinh said, "The co-operation programme is entirely consistent with the country's Socio-economic Development Plan 2011-15 which is expected to be approved in September this year."
While poverty reduction remained the programme's core goal, it was also scheduled to support Vietnam to cope with emerging challenges, including climate change impacts, lack of skilled human resources, developing green-based economy and gender disparities, he said.
About 43 million USD would be allocated to water and sanitation to cope with and reduce climate change impacts in three provinces of Ninh Thuan, Binh Thuan and Ha Tinh.
Director General Peter Moors of the Directorate General for Development said the programme would spend about 17 million USD to cover interventions in the governance sectors.
Belgium had tripled the funding of its scholarship programme to 12 million EURO (17 million USD) to help Vietnam solve the lack of qualified human resources, he said.
On the same day, the first Joint Commission on Economic Cooperation between the two countries was also held in Hanoi .
Belgium and Vietnam discussed space technology, dredging, waste and water management, the health sector as well as food safety issues.
Belgian Prime Minister Leterme said: "In the long term I hope Vietnam will become the primary and privileged economic partner of Belgium in Asia ."
The next Joint Commission on Economic Co-operation will be held in Brussels in the autumn of 2012./.
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UK-based VN businesses raise fund for needy kids
London (VNA) – The Association of Vietnamese Businesses in the UK raised 4,750 GBP and 1,000 EUR from an amateur golf tournament for children with congenital heart diseases in Vietnam .
The money will be channeled to the charitable programme “A heart for you”, which was tailored to help kids with congenital heart diseases, especially from poor families, get free surgery to fix the hearts.
The golf tournament, called “Hainault Challenge Trophy”, drew 72 players from the UK , Hungary and the Netherlands , including overseas Vietnamese./.
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Vietnam, Cuba enhance defence cooperation
Havana (VNA) – The Vietnamese and Cuban defence ministries will set up a mechanism for deputy minister-level strategic defence-security dialogue and cooperate in strategy research and other military spheres.
An agreement to this effect was signed between Vietnamese Deputy Minister of National Defence Lieut. Gen. Nguyen Chi Vinh and Deputy Minister, and Chief of the General Staff of the Cuban Revolutionary Armed Forces Sen. Lieut. Gen. Alvaro Lopez Miera during their talks in Havana on June 22 as part of Vinh’s official visit from June 19-24.
Under the agreement, the two sides will also cooperate in training military officers and share experiences in multilateral defence cooperation and military diplomacy.
At the talks, the two sides discussed the developments of the world and each region and their effects on each country’s security-defence, reviewed results of bilateral cooperation over the past time as well as put forth orientations for their future cooperation.
During his stay in Cuba, general Vinh paid a courtesy visit to Sen. Lieut. Gen. Julio Casas Regueiro, Politburo member, Vice President of the Council of State and Minister of the Cuban Revolutionary Armed Forces, who spoke highly of socio-economic and defence-security achievements made by the Vietnamese Party and people over the past time.
The Cuban Minister highly valued the two countries’ cooperative ties, suggesting both to speed up defence cooperation in the fields where they have strength and potential.
The Vietnamese delegation also had a working session with Oscar Martinez, Vice Head of the Communist Party of Cuba (CPC) Central Committee’s Commission for External Relations, on the results of the 6th CPC Congress.
They toured leading units, defence industial establishments and IT and scientific application facilities of the Ministry of Cuban Revolutionary Armed Forces.
The Vietnamese officials paid floral tribute to President Ho Chi Minh at his monument in Havana.
The visit, made after the Vietnamese and Cuban Communist Parties successfully organised their congresses, will help further strengthen the fraternity, and traditional, loyal solidarity between Vietnam and Cuba. It at the same time will boost bilateral defence cooperation to cope with and foil all schemes threatening socialism, independence, sovereignty and territorial integrity of each nation in the new situation./.
Quan re-elected as chair of HCMC People's Committee
HCM City (VNA) — HCM City 's newly elected council members, at their first meeting on July 22, agreed to re-elect Le Hoang Quan, chairman of the municipal People's Committee, for one more term.
Le Hoang Quan, 58, a member of the Communist Party of Vietnam's Central Committee, who is from Binh Duong province's Di An district, was re-elected with approximately 94 percent of votes in his favour.
Five other deputy chairs of the committee were approved.
Nguyen Thi Quyet Tam, chief of the HCM City Party Committee's Information and Education Bureau was also elected to chair the city People's Council, with 96.8 per cent of the vote.
Quan, who spoke after being re-elected, said the city had reached achievements in many areas, including the economy, the global financial crisis and periodic outbreaks of disease.
The city, however, was facing with many challenges such as traffic jams, pollution, flooding, inflation and quality of human resources, Quan said.
"It's a heavy responsibility. I promise together with committee members to deal with the difficulties during the forthcoming years and correct the shortcomings that occurred during the past term," he added.
The chairwoman of the municipal People's Council, Nguyen Thi Quyet Tam, said that the public was still not pleased with many issues.
The problems of the people are the concerns of the council and city government, she added.
The council plans to intensify supervision of the city government with an aim for improvement during this term.
One of the important targets of the city People's Council is to further improve the quality of life for residents, Tam added.
The election on May 22 selected 95 members of the People's Council for the 2011-2016 term, with 99.8 percent of voters taking part.
Of the new council members, 10 are not Party members, 21 are women, two are ethnic minorities, and three are female artists.
Cai luong performer Que Tran, singer Thanh Thuy and actress Hong Van had a high percentage of votes in their favour. Ninety-two of the new council members are university graduates./.
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Poor receive help from United Arab Emirates
Hanoi (VNA) — Donors from the United Arab Emirates (UAE) have contributed over 500,000 USD to Vietnam 's poor over the past two years.
The Embassy of the UAE to Vietnam has acted as a bridge to bring the good-will of many organisations to the needy, including the Sheikh Khalifah Bin Zayed Al Nahyan Foundation from Abu Dhabi , the Red Crescent and the Dar Al Ber Society, as well as individual donations to the people of An Giang, HCM City and other southern provinces.
The donations have come in various forms including a new medical centre, ambulances, housing, bridges, wells and electric pumps./.
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Health insurance covers 60 percent of population
Hanoi (VNA) – About 53 million people nationwide have got covered by health insurance after the Health Insurance Law has been enforced for two years, accounting for over 60 percent of the country’s population.
The Health Ministry said on June 22 in addition to 50 central establishments, 510 provincial bases, 1,190 district-level bases and 276 private clinics, more than 6,100 communal medical stations engaged in providing medical check-ups and treatment for health insurance holders.
This year’s Health Insurance Day (July 1) has the theme “Strengthen the access to health services of poor, ethnic minority people and children under six with health insurance”, aiming to draw the active social participation and support in providing the best health care services for people in need./.
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Unemployed receive 340 billion VND payments
Hanoi (VNA) – An estimated 340 billion VND (16.5 million USD) in unemployment benefits has been given to the unemployed in the first five months of the year.
According to the Ministry of Labour, War Invalids and Social Affairs, the payments sourced from the unemployment insurance programme.
As many 337,503 people nationwide had registered as unemployed during the reviewed period, three times higher than the figure of the same time last year./.
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Paxason hails VN Party Chief’s visit outcomes
Vientiane (VNA) – The official friendship visit to Laos by Vietnamese Party General Secretary and National Assembly Chairman Nguyen Phu Trong has brought the Vietnam-Laos special solidarity and friendship to a new height.
It was stated in an editorial published on June 23 by Paxason newspaper, the organ of the Lao People’s Revolutionary Party (LPRP).
The editorial reviewed major activities of the Vietnamese leader during his three-day visit to Laos , especially the talks with LPRP General Secretary and President Choummaly Sayasone on June 20. It also highlighted the spirit and contents of the Laos-Vietnam joint statement issued on the occasion.
The editorial noted that the Lao people warmly welcomed the results of the visit, affirming that together with the Vietnamese Party, State and people, the Lao people will do their utmost to protect and further promote the time-honoured friendship, special solidarity, and comprehensive cooperation between the two countries.
According to Paxason, the Laos-Vietnam special friendship and solidarity has become an invaluable heritage of the two peoples and formed an invincible strength to support the two countries to advance towards prosperity./.
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Hanoi to improve care for Hoan Kiem turtle
Hanoi (VNA) – Relevant departments and branches are advised to enlarge the special water tank in Hoan Kiem Lake to provide the lake’s giant turtle with better treatment and care before it is released back into the lake.
The request was made by Deputy Chairman of the Hanoi People’s Committee Nguyen Van Khoi at a meeting of the Turtle Treatment Taskforce, in Hanoi on June 22.
He also asked Hanoi Department of Natural Resources and Environment to improve Hoan Kiem Lake’s environment, especially the lake’s water quality, adding that Hanoi Department of Agriculture and Rural Development is responsible for building draft regulations for managing Sword Lake area to submit to the city People’s Committee for approval in August.
The giant turtle living in Hoan Kiem Lake in downtown Hanoi was found suffering from diseases earlier this year. It was successfully captured and herded onto a special filtered water tank on the island in the middle of Hoan Kiem Lake for medical treatment.
After more than two months of treatment, the wounds of Hoan Kiem Lake ’s giant turtle have healed and it has recovered from illness./.
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ASEAN power authorities convene in Da Nang
Da Nang (VNA) – The 27 th meeting of the Heads of ASEAN Power Utilities/Authorities (HAPUA) was held in Da Nang on June 23, discussing measures to boost cooperation in energy among regional countries.
At the meeting, ASEAN senior officials decided important issues on the cooperation strategy in the area among ASEAN member countries, transferred the chairmanship of the HAPUA Council to Vietnam and elected Brunei as Deputy Chairman.
They also discussed a potential restructuring of the HAPUA organisation.
Within the meeting framework from June 20-23, the eighth meeting of the ASEAN power network connectivity committee chaired by Thailand , and the 14 th meeting of the HAPUA Coordinating Committee took place.
Apart from 10 ASEAN member countries, the meeting drew delegates from the HAPUA secretariat, the Asian Development Bank (ADB), the ASEAN Secretariat, the ASEAN Centre for Energy, and observers.
The annual meeting is rotated among the ten ASEAN members in alphabetical order.
ASEAN comprises the countries of Brunei , Cambodia , Indonesia , Laos , Malaysia , Myanmar , the Philippines , Singapore , Thailand and Vietnam. /.
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VN congratulates Ban Ki-moon re-election
Hanoi (VNA) – Vietnam congratulates Ban Ki-moon on his reappointment as Secretary General of the United Nations for another term, a Foreign Ministry spokesperson said.
“This shows the confidence of the international community in his contribution,” Nguyen Phuong Nga said on June 23 in response to reporters’ queries about Vietnam ’s stance on Ban’s re-election.
Vietnam believes that with the cooperation of member nations, Ban Ki-moon will make more contributions to UN work and the peace and development of all nations, she said.
Vietnam always attaches importance to multifaceted cooperation with the UN and will continueto work closely with Ban Ki-moon, Nga affirmed./.
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Festival to honour Vietnamese family values
Hanoi (VNA) - The Vietnamese Family Festival 2011 will take place from June 25-28 in Hanoi to celebrate the 10th anniversary of National Family Day (June 28).
The festival, entitled “Practical Actions to Build Happy and Sustainable Families”, is being jointly held by the Ministry of Culture, Sports and Tourism and the Hanoi municipal People's Committee, the ministry told a press briefing on June 23.
The four-day event will include an exhibition showcasing achievements of Vietnamese Family Day during its decade-long history and many books designed to promote a reading culture and encourage people to build their own family libraries.
A number of traditional handicrafts, together with paintings on the theme of “Say ‘No’ to domestic violence” by capital children will be also on display.
There will be a wide range of seminars focusing on health care for families and the community.
Within the framework of the festival, which will be held at the Vietnam Exhibition Centre for Culture and Arts, participating families will have a chance to engage in numerous cultural and sporting activities./.
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High quality for ethnic language programmes
Kon Tum (VNA) – Leaders of five broadcasting stations in the Central Highlands agreed to increase both time allocations and quality of programmes in ethnic languages at a meeting to review their activities during the past six months on June 23.
Additionally, they will also increase quality of reportage and provide training for staff including correspondents, editors and technicians in a more professional manner, especially broadcasting staff at district and provincial levels.
Stations in the Central Highlands have implemented hundreds of programmes on State and Party policies and farmers’ economic development models in the eight ethnic languages of Ede, M’Nong, K’Ho, Chu Ru, Bah Nar, Jrai, Sedang and Je Chieng that contribute to improving lives of ethnic minorities in the locality.
They also exchanged information and outstanding reportage with their counterparts from other provinces through a joint programme entitled “Rhythm of Life in the Central Highlands”./.
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President Triet visits Ca Mau province
Ca Mau (VNA) – President Nguyen Minh Triet has suggested the southernmost province of Ca Mau capitalise on its diverse potential and advantages and choose a breakthrough sector for development.
The State leader made this recommendation during his working session with Ca Mau authorities on June 23.
Ca Mau needed to be active and creative and take advantage of opportunities, said Triet, adding that local authorities should increase the efficiency of hunger eradication and poverty reduction and pay more attention to education and training to add more talent to the country.
The Ca Mau gas-power-fertiliser industrial zone was a lever to boost economic development, he said.
However, he said, the province should have an appropriate policy to attract domestic and foreign investors and take advantage of capital sources to roads and bridges in communes.
2011 was also the first year the entire nation implemented the Resolution of the 11 th National Party Congress, stressed the President.
Party members and cadres in Ca Mau and the whole country must study the resolution well, to thoroughly grasp its contents, he said.
Triet took the occasion to hail the first half socio-economic achievements of the provincial Party’s Committee, authorities and people.
Ca Mau was leading the country in seafood exports with an annual export turnover of over 800 million USD and achieved a food output of more than 450,000 tonnes and an annual per-capita income of over 1,100 USD, he said.
The living conditions of the local people had been improved and the number of poor households had dropped considerably. In addition, Party building work was also consolidated.
The same day, the President also visited social beneficiary families, toured Phu Tan and Cai Nuoc districts and visited local armed forces./.
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Project promotes French in Indochina
HCM City (VNA) – Valofrase, a project promoting French in Vietnam, Laos and Cambodia, has reaped encouraging outcomes over the past four years, contributing to improving the quality of teaching and learning French in the three Indochinese countries.
At a June 23 conference to review the implementation of the project’s first phase during the 2006-2010 period, Deputy Minister of Education and Training Nguyen Thi Nghia described this as a new and effective cooperation model that should be expanded.
At the event, held in Ho Chi Minh City by Valofrase’s Regional Committee for Coordination, participants also touched on hurdles facing the project, such as low-quality management and a human resources shortage at different levels.
In order to better the project’s second phase, they agreed on the need to pursue a multilateral partnership, pay attention to the quality of targets instead of the quantity and establish a system to oversee students’ study. They also mapped out an array of activities to promote the French environment.
According to Tran Thi Mai Yen, Director of the Asia-Pacific French Centre in HCM City , the second phase of Valofrase will focus on heightening awareness of students and their parents about the benefits from learning French.
The phase is expected to effectively contribute to regional countries’ plan on teaching foreign languages for students ranging from primary to senior levels between 2008-2020, she said.
Valofrase was being jointly launched by the Association of Universities of the Francophonie (AUF) and Ho Chi Minh City Education and Training Department./.
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Chinese Communist Party delegation visits VN
Hanoi (VNA) – A high-ranking delegation of the Communist Party of China (CPC) on June 23 paid a courtesy visit to Dinh The Huynh, Politburo member, member of the Communist Party of Vietnam Central Committee’s Secretariat and Head of CPVCC Commission for Popularisation and Education.
While in Vietnam from June 20-24, the CPCCC’s International Liaison Department delegation, led by its Deputy Director Liu Jieyi, was received by member of the CPVCC and Head of the CPVCC Commission for External Relations Hoang Binh Quan.
They discussed the situation and cooperation plan for 2011 with Deputy Head of the CPVCC Commission for External Relations Nguyen Manh Hung.
During their five-day stay, they also toured Ho Chi Minh City and the central coastal province of Khanh Hoa./.
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Politburo member affirms Hanoi’s contributions
Hanoi (VNA) – Hanoi had actively promoted the development of other localities in the Red River delta and affirmed its leading position in the whole country in terms of growth, affirmed a Party Politburo member.
The Politburo member and permanent member of the Communist Party of Vietnam Central Committee (CPVCC) Secretariat, Truong Tan Sang, made these remarks at the Jan. 23 working session with the Hanoi Party Committee Standing Board on the five-year implementation of the Politburo’s Resolution on socio-economic development and ensuring defence and security in the Red River delta until 2010 and vision for 2020.
Sang also asserted that Hanoi’s position was increasing on the international arena, stressing that the city was closely following all targets set out in the resolution.
Hanoi had made great contributions to the Red River delta and the entire country in not only tax revenues but also human resources and socio-cultural values, he said.
Sang also pointed out shortcomings and weaknesses that the city should overcome to attain higher future growth.
Deputy Secretary of the Hanoi Party’s Committee and Chairman of the Hanoi People’s Committee Nguyen The Thao said that over the past five years the city had recorded an annual GDP growth of 10.73 percent with services up by 10.35 percent, industry-construction went up by 12.78 percent and agriculture increased by 2.62 percent.
The city’s economic restructuring had shifted in a positive direction, he said.
The cooperation development ties between Hanoi and other Red River cities and provinces and the entire country had been consolidated and expanded to bring into play all internal resources and effectively tap the Red River delta’s potentials and advantages, he added./.
BUSINESS
Vincom plunge leads market reversal
Hanoi (VNA) — The VN-Index retreated by 0.7 percent on June 22 following a strong rebound the day earlier, closing on June 22's trades on the HCM Stock Exchange at 439.63 points.
The value of trades rose by 11 percent over the previous session to 647 billion VND (31.4 million USD), but the overall volume of trades fell 16 percent to just 24.9 million shares, the lowest level in two weeks.
Decliners outnumbered advancers by 126-80.
Blue chips such as Vietinbank (CTG), property developer Hoang Anh Gia Lai (HAG), steel producer Hoa Phat Group (HPG) and software giant FPT all rose.
Meanwhile, insurer Bao Viet Holdings (BVH) dropped by 1.2 percent and Phu My Fertiliser (DPM) slumped 0.3 percent, helping drag down the VN-Index. Investors dumped shares of real estate developer Vincom (VIC), which bottomed out after five consecutive sessions last week in which they hit their ceiling prices.
VIC denied issuing any information last week that affected its share price.
"The buys of our shares stemmed from actual demand on the stock market and were beyond our control," the company said in a statement.
Saigon Securities Inc (SSI), with 1.55 million shares changing hands, was the most-active share on the southern bourse, closing unchanged at 19,000 VND (0.90 USD) a share.
On the Hanoi Stock Exchange, the HNX-Index lost another 0.83 percent to close at 76.41 points. The value of the day's trades rose 12 percent to 468.6 billion VND (22.7 million USD ) on a volume of 38.2 million shares. Losers edged gainers by 131-122.
VNDirect Securities (VND), which had climbed 3.5 percent the previous day to 11,900 VND (0.60 USD) per share, was the most-active share nationwide with almost 4 million changing hands.
Foreign investors continued to buy shares worth a net of 27.2 billion VND (1.3 million USD) in HCM City but sold a net of 3 billion VND (145,600 USD) worth of shares on the northern bourse./.
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State Bank sets limits on gold trade
HCM City (VNA) — People will continue to have the right to buy and sell gold bars but only at banks and authorised businesses, the State Bank of Vietnam (SBV) said in its final draft decree on the management of gold-trading activities.
In a previous draft decree, SBV said that people can sell but not buy their gold bars.
Like the previous draft, the final draft decree allows people to buy gold bars for savings, but not for use as a means of payment.
SBV also said it wanted to reduce the number of organisations allowed to trade gold bars. Trading gold bars is a restricted trading activity.
Enterprises and business organisations that want to buy and sell gold bars must get licences from SBV, and follow certain conditions related to capital, revenue and network regulated by SBV.
Businesses producing, outsourcing and trading jewellery gold must have a certificate from SBV showing they have sufficient trading conditions.
Organisations that produce and trade jewelry gold must re-register for a licence in accordance with the new regulation, within a year after the decree becomes effective.
In the previous draft decree, SBV was the only place that produced gold bars. But the final draft decree offers two options, in which SBV would either produce gold bars or grant licences to businesses to produce the precious metal.
If SBV grants licenses for businesses to produce, it will stipulate the process, procedure and the number of enterprises allowed to produce gold bars in a certain period in an aim to tightly control this activity.
Regarding imports and exports of gold raw materials, SBV will restrict gold exports while imports must follow strict requirements.
Exports of jewelry made from gold of 20 carats and more must have a licence from SBV.
Only firms licensed to mine gold would be eligible to export it. Regarding imports, the central bank will offer licences to jewelry producing firms for the local market and exports, as well as some Vietnamese firms mining gold abroad to send back to the country.
SBV has begun to collect feedback from ministries, agencies, businesses and associations on the final draft decree before submitting it to the Government by the end of this month./.
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State firms told to reduce non-core investment operations
Hanoi (VNA) — The Government will require State-invested enterprises to reduce the percentage of capital they invest in non-core business activities under a draft regulation compiled by the Ministry of Finance (MoF).
In a draft decree on management and use of capital and financial management for State-invested enterprises, the percentage of investment permitted for non-core business activities would be reduced to 15 percent from the current 30 percent.
State management offices previously ordered State-invested corporations and groups to withdraw their capital from non-core sectors but they had not taken the requirement seriously, said Dang Quyet Tien, deputy head of the Ministry of Finance's Enterprise Finance Department.
The Government expected the new draft would restrict corporations and groups from staying, or getting, involved in high risk sectors such as securities, insurance and real estate, Tien said.
In addition to withdrawing unrelated investment capital, MoF proposed development of regulations on supervising the financial situation of State-owned enterprises to promote effective use of State capital, said Tien.
Tran Van Hieu, deputy minister of finance, said the ministry had studied regulations to increase management responsibility and use of capital and assets by enterprises. Enterprise managers would then have an idea of their weaknesses and be able to make timely solutions to the problems, he said.
The Government would promote sanctions on enterprise managers that were not in compliance with the regulations, Hieu said./.
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Procedures trouble Korean firms
Hanoi (VNA) - Customs and tax-related problems fueled a meeting between business representatives from the Republic of Korea (RoK) and Vietnamese authorities held in Hanoi on June 22 by the Government Office's Department of Administrative Procedures Reform to gather opinions from the RoK business community.
" Vietnam has simplified about half of its administrative procedures so far and is determined to complete the process now," said the department's deputy director, Ngo Hai Phan.
The Korean Chamber of Commerce and Industry (Korcham) would collect opinions from Korean firms so that the Ministry of Finance and other concerned ministries and agencies might study and resolve the issues raised, Phan said.
The general director of automobile manufacturer GM Daewoo Vietnam , Kim Jung In, told the meeting that the biggest obstacle to doing business in Vietnam was import and export procedures.
"Many of our papers have never been satisfactorily processed," Kim said.
In addition, customs officials required detailed lists of components and their rate in finished products.
"This is very difficult to implement because these lists are considered the proprietary secrets of our business," said the general director of bedding importer Everpia Vietnam , Lee Jae Eun.
Lee also suggested the use of local letters of credit to speed the processing of imports. These were successfully utilised in RoK and would help reduce administrative procedures and attract more investment, he said.
However, since the application of a local letter of credit would require the co-ordination of the entire banking system, Vietnam would need time to study and implement such a process, responded a Ministry of Finance representative.
Another issue raised at the meeting was that different codes were applied to the same imported products. However, an official of the General Department of Customs said, "If businesses see customs officials applying two different codes for the same product, they should report immediately to the authorities."
Lee also voiced concerns about tax payments and the application of tax incentives for foreign investors.
"We have not even received promised tax incentives in some cases, so the company has had to increase product prices, which in turn has affected Vietnam 's export competitiveness," Lee said.
"We have also been able to enjoy tax refunds two months after completing all paper work, while interest rates are rising."
Lee proposed tax declarations on a quarterly basis rather than monthly to reduce administrative burdens on investors.
According to Korcham, around 2,500 Korean enterprises worth a combined 23 billion USD are operating in Vietnam , of which 70 percent are small- and medium-sized enterprises.
Up to 60 percent of the questions raised by Korean businesses about administrative procedures were due to their inability to master all of the regulations, but the other 40 percent have encountered real shortcomings with procedures applied in Vietnam, Deputy Minister of Finance Do Hoang Anh Tuan told an earlier meeting./.
Export revenue soars in first six months
Hanoi (VNA) — Total export revenue for the first six months of the year reached 41.5 billion USD, up 27.8 percent against the same period last year, the Ministry of Planning and Investment said in a report submitted to the National Assembly's Economic Committee on June 21.
The increase nearly tripled the target of 10 percent set earlier this year by the National Assembly (NA), the ministry stated in its report.
Export turnover of many products also increased sharply. Rubber topped the list with the growth rate of nearly 96 percent.
Coffee followed with an 81 percent increase while textiles and garments also surged more than 30 percent during the period.
The ministry estimated that a rise in export volume and a sharp price hike on the world market had contributed to lifting the country's export turnover in the first half of the year by roughly 2.7 billion USD.
Exports to a number of large markets including the US , the EU, Japan and China rose between 22-40 percent, the ministry said.
Imports, meanwhile, were up 26.4 percent compared with the same period last year, at 49 billion USD.
This puts the trade deficit for the first half of the year at around 7.5 billion USD, equal to 18 percent of the total export value and higher than the ceiling rate of 16 per cent targeted by the NA earlier this year.
Industry insiders were concerned that the trade deficit would continue to rise due to increased imports, and urged ministries and agencies to take bolder measures to control the trade gap. The General Statistics Office reported last month's trade deficit increased by 17.3 percent to 1.7 billion USD, the highest level since January this year./.
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VN, France expect higher trade turnover
Paris (VNA) – Two-way trade turnover between Vietnam and France is expected to reach about 1.15 billion EUR in the first sixth months of this year, or an increase of nearly 22 percent over the same period in 2010.
The figure is realistic as turnover hit 772.3 million EUR in the first four months, a year-on-year increase of 24.3 percent, according to the Commerce Bureau of the Vietnamese Embassy in France .
Trade Counselor Pham Xuan Yen at the bureau reported that in the four-month two-way trade value, Vietnam ’s export earnings made up 594.1 million EUR and is expected to reach 890 million EUR by the end of June.
Electrical and electronic appliances alone brought the country 107.3 million EUR in the first four months of this year, equivalent to the 2010 value.
During the four-month period, Vietnam spent 178.2 million EUR on buying goods from France, a decrease of over 9 percent compared to the same period last year./.
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Auto Expo 2011 opens in Hanoi
Hanoi (VNA) – The ongoing 8 th Vietnam Auto Expo 2011 in Hanoi is providing a venue for policy makers, experts and auto makers to work together on measures for the automobile industry’s development.
Opened on June 22, the Expo included a symposium, themed “ Vietnam ’s automobile industry – positioning from market”, which was jointly organised by C.I.S Vietnam Advertising and Exhibition Fair Ltd, the Institute of Industry Policy and Strategy (IPS) and the Vietnam Society of Automobile Engineers (VSAE).
The four-day Expo, embracing the topic ‘Technology for Life’, displays modern models of cars, including special-use vehicles such as heavy-duty dump trucks, buses, and trucks.
On more than 200 booths, there also present the latest technologies, maintenance services, lubricant oils, additives and fuels for automobiles./.
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China becomes Hanoi’s largest trade partner
Hanoi (VNA) – China is now the largest import and export market of enterprises in Hanoi , the municipal department of statistics said.
In the first six months of this year, Hanoi ’s exports were estimated at 4.259 billion USD, a year-on-year increase of 17.2 percent, while imports were about 12.55 billion USD, up 23 percent over the same period last year.
Of these figures, 15.7 percent of exports went to China and 27.6 percent of imports came from China .
Japan comes second with 10.9 percent and 12.3 percent of Hanoi ’s total exports and imports, respectively. The US accounted for with 10.6 percent of the capital city’s exports.
The main export items enjoying high turnover are garment and textile, accounting for 10.3 percent of total exports, computer accessories and peripheral devices with 15.1 percent, while petroleum imports amount to 3.6 billion USD./.
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Vietnamese Tra fish now recognised globally
Hanoi (VNA)- As many as 45 Vietnamese aquaculture facilities raising Tra fish – which accounts for 95 percent of the world market of white fish fillets – have been awarded the Global Good Agricultural Practice (GlobalGAP) certificate.
The Vietnam Association of Seafood Exporters and Processors (VASEP) released the information recently, adding that another 18 fish farms are in the process of applying for or are waiting on such prestigious certification.
GlobalGAP is an international standard assuring transparency of origin, quality and food safety at each stage of production for cultivation, animal husbandry and aquaculture.
In addition, a number of Tra fish farms across the country have received certificates of other international standards such as AquaGAP, a new standard for good agricultural practice, and SQF, which stands for Safe Quality Food.
VASEP explained that these prestigious certificates improved the image of Vietnamese Tra fish on the international market, increasing shares in the traditional markets and expanding opportunities for new markets.
In the first quarter of the year, Vietnam exported over 153,000 tonnes of Tra fish worth over 376 million USD. The figures represented a year-on-year increase of 5.2 percent in quantity and 21.6 percent in value.
Tra fish products are now available in 136 markets overseas./.
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Exports to US experience a boost
Hanoi (VNA) – Vietnam earned over 6.15 billion USD from exports of goods to the US in the first five months of the year, an increase of 22.5 percent over the same period last year.
In a freshly released report, the General Department of Vietnam Customs said that with this achievement, the US continued its role as Vietnam ’s largest market for exports, making up 17.7 percent of Vietnam ’s total export turnover.
The five-month export value also saw Vietnam surpass the Philippines and Indonesia on the list of ASEAN exporters to the US .
Vietnam has also caught up with Malaysia , which is now the leading ASEAN country in exports to the US , in the exports of several staples.
Vietnam shipped garment and textiles, woodworks, footwear, seafood, cashew nuts and machinery to the US .
Of these, garment and textiles continued to gain the highest value with over 2.55 billion USD in the first five months of the year, a year-on-year increase of 17.7 percent, making up 50 percent of the country’s garment and textiles exports turnover. Following was footwear with an export value of 714 million USD, making up over 30 percent of total footwear export turnover.
The US was the largest importer of Vietnamese handbags, wallets and suitcases, spending 180 million USD on the products in five months of the year, an increase of 44 percent.
In the same period, Vietnam spent 1.77 billion USD on importing goods from the US , an increase of 26 percent over the same period last year.
As a result, Vietnam had a trade surplus of 4.34 billion USD to the US , an increase of 21 percent.
The US Commerce Association forecast that Vietnam is capable of leading ASEAN in exports to the US in 2011./.
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Vietfish 2011 to take place this month
HCM City (VNA) – The Vietnam Association of Seafood Exporters and Producers (VASEP) will host the Vietnam Fisheries International Exhibition 2011 (Vietfish 2011) from June 28-30 in Ho Chi Minh City .
The event was expected to attract the participation of more than 190 international and local exhibitors from 11 countries including Thailand , Norway , Germany , Japan and the United States .
Apart from displaying aquatic products, the exhibition will also hold workshops on seafood market trends and measures to ensure safety for Vietnam ’s seafood exports to major markets.
According to the General Secretary of VASEP, Truong Dinh Hoe, Vietfish 2011 was not only the place for businesses to display and introduce their products but also the place for advertising, seeking partners and signing contracts, as well as updating the latest information about the seafood industry such as new products and new technologies./.
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Vietnam-Cambodia trade rises sharply
Phnom Penh (VNA) – Two-way trade between Vietnam and Cambodia in the first five months of this year reached over one billion USD, representing a year-on-year rise of 41 percent.
During this period, Vietnam exported 891 million USD worth of goods to Cambodia, an increase of 139 percent while Cambodia earned 124 million USD, compared to 120 million USD from its exports to Vietnam.
The Vietnam Trade Office in Cambodia said Vietnam’s exports to Cambodia rose sharply due to growing investment by Vietnamese companies in Cambodia, especially in the fields of rubber, farm produce processing and health care.
According to the Statistics Department under the Cambodian Ministry of Commerce, this growth was in line with the two governments’ goal of raising bilateral trade to two billion USD by 2011./.
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