Taiwan investors unable to fund multi-billion dollar steel mill

The fate of a multi-billion dollar steel mill project is now uncertain after its Taiwanese investors struggled to raise money for it, following several adjustments to the construction plan the past decade. Guang Lian Dung Quat Steel Mill's investors have confirmed with local agencies about their funding problems, nine years after the project was licensed, news website Tuoi Tre Online reported on July 3. As of last June, Quang Ngai authorities had spent VND223 billion (US$10.21 million) on compensation to residents relocated for the project, according to the news report. Two-thirds of the site has been cleared. Meanwhile, investors have spent around US$42 million building initial structures for the construction, news website Saigon Times Online reported. The project was initially proposed in 2006 by Taiwanese-owned Tycoons Vietnam Co., Ltd with a cost estimate of over US$1 billion, aiming to produce five million tons of steel a year. Soon after that E-United Group, a steel … [Read more...]

MoIT leads trade mission to China

(VOV) -The Ministry of Industry and Trade (MoIT) is laser focused on expanding rice and agricultural exports to China and has appointed Deputy Minister Tran Tuan Anh to head up a delegation of trade representatives to support the effort. In connection therewith, Deputy Minister Anh was the key note speaker at a recent forum held in China’s Guangdong province that gathered more than 100 leading Chinese business leaders to discuss trade related issues. At the event, Anh dilated on how Chinese and Vietnamese business could benefit from expanded trade in agriculture, saying he highly appreciated the important role that Guangdong plays in the trade relations between the two nations. For his part, the President of the Guangdong Food Association stressed the importance of Vietnam’s agricultural products, especially rice to China and expressed willingness to build strong mechanisms to enhance trade. At the forum the two sides signed a number of contracts to import rice. In … [Read more...]

Success for Vietnam badminton players in Russia

(VOV) -Vietnam’s three top badminton players have gotten off to a good start at the – White Nights 2015 – international badminton challenge taking place July 1-5 at the Sporthall Arena in Gatchina. The US$150,000 competition, organized by the National Badminton Federation of Russia in collaboration with the Badminton Federation of Leningrad, has attracted 202 players from 32 countries in Asia, Europe and Pan America. Although this is not a highly prestigious tournament it has reunited many of the world's most powerful players and is important for the players to accumulate points on the world ranking list to navigate their way to the 2016 Olympics. Vietnam top player Nguyen Tien Minh won three consecutive games in the early rounds to advance to the quarter-finals where he will face Abdul Latif from Malaysia who currently stands 66th in the world ranking. In the men’s singles, Pham Cao Cuong has also made it into the quarter-finals and is set to square off … [Read more...]

Vietnam’s positive contributions to UN Human Rights Council

The UN Human Rights Council (HRC) adopted 25 resolutions and one Chairman Statement at the 29th session at the UN Headquarters in Geneva, Switzerland. (VOV) -Ambassador Nguyen Trung Thanh, Head of Vietnam’s Permanent Mission to the United Nation and other international organisations in Geneva has highlighted Vietnam's speeches demonstrating its stance on various issues at the 29th session of the UN Rights Council (HRC). Based on Vietnam’s interests and commitments to protecting and promoting human rights, Vietnamese participants actively contributed ideas to topical discussions and dialogues with the HRC’s special procedures, negotiations on draft resolutions and Chairman Statement in the spirit of broadening people’s access to their rights. Vietnam underlined that the US should enhance dialogues and cooperation to avoid political influences on its prestige. The country co-sponsored 8 resolutions on climate change, the independence of judges, … [Read more...]

Vietnam’s positive contributions to HRC Council’s session

The UN Human Rights Council (HRC) adopted 25 resolutions and one Chairman Statement at the 29th session at the UN Headquarters in Geneva, Switzerland. (VOV) -Ambassador Nguyen Trung Thanh, Head of Vietnam’s Permanent Mission to the United Nation and other international organisations in Geneva has highlighted Vietnam's speeches on different issues at official discussions, showing itsor on behalf of ASEAN as a Co-Coordinator of the group to the Council in 2015. Based on Vietnam’s interests and commitments to protecting and promoting human rights, Vietnamese participants actively contributed ideas to topical discussions and dialogues with the HRC’s special procedures, negotiations on draft resolutions and Chairman Statement in the spirit of broadening people’s access to their rights. Vietnam underlined that the US should enhance dialogues and cooperation to avoid political influences on its prestige. The country co-sponsored 8 resolutions on climate change, … [Read more...]

New York governor orders more July Fourth security after alert

New York Governor Andrew Cuomo on July 3 ordered heightened security measures across the state over the U.S. July Fourth holiday weekend in response to a call for vigilance by the federal government. "We are keenly aware that New York State remains a top target for terrorists," Cuomo said in a statement. The Department of Homeland Security and the Federal Bureau of Investigation have issued an alert calling for local authorities and the public to remain vigilant for possible threats following recent calls for violence by Islamic State militants. In New York City, the nation's largest municipal police force assigned about 7,000 officers and nearly all its counterterrorism personnel to handle security around Independence Day events. Cuomo expanded the stepped-up security measures to include the entire state in a directive to the New York Division of Homeland Security and Emergency Services. "In response to the warning by the federal government, New York State is taking steps to … [Read more...]

Tokyo Strategy 2015 adopted at Mekong-Japan Summit

(VOV) - Leaders from the five Mekong sub-regional nations and Japan have approved the Tokyo Strategy 2015 with an overall goal for the 2016-2018 Mekong-Japan cooperation specifically designed to ensure regional stability and achieve ‘quality growth’ in the Mekong Sub-region. PM Nguyen Tan Dung is leading a senior Vietnam delegation to attend the 7th Mekong-Japan Summit taking place in Tokyo on July 2-4. The meeting reviewed the three-year implementation of the Tokyo Strategy 2012 and outlined orientations for cooperation in the time to come. The leaders acknowledged the significant results achieved in all three pillars of cooperation, especially in infrastructure development for regional connectivity, trade and investment promotion between Japan and Mekong countries, environmental protection and disaster prevention, cross-cultural exchange and training of human resources. They also hailed Japan for providing more than 600 billion yen (US$4.9 billion) for Mekong-Japan … [Read more...]

Party leader’s forthcoming US visit highlighted as historic event

Ernest Bower-a senior adviser and Sumitro Chair for Southeast Asia Studies and co-director of the Pacific Partners Initiative at the Center for Strategic and International Studies (CSIS)

(VOV) - Party General Secretary Nguyen Phu Trong is due to pay an official visit to the US on July 6-10 at the invitation of the US government. On the eve of the visit, a Washington-based Radio Voice of Vietnam (VOV) reporter recently sat down with some US leading experts to talk about the significance of the high-profile visit. The US trip by Party Chief Nguyen Phu Trong is capturing special American public attention as this is the first time for a General Secretary of the Communist Party of Vietnam (CPV) to pay an official visit and hold talks with the US President at the White House. With 30 years of Vietnam-US relations research experience, Ernest Bower-a senior adviser and Sumitro Chair for Southeast Asia Studies and co-director of the Pacific Partners Initiative at the Center for Strategic and International Studies (CSIS) described the visit as a historic event showing the deepened Vietnam-US relations. General Secretary Nguyen Phu Trong’s visit-an essential step … [Read more...]

RoK, Vietnam discuss tourism upgrades

More than 70 government officials and personnel from travel agencies, hotels as well as academics from Vietnam and the Republic of Korea exchanged notes and shared best practices at a tourism workshop held on July 3 in HCM City. The ASEAN-Korea Culture and Tourism Promotion Workshop was organised by the ASEAN-Korea Centre in cooperation with the Vietnam National Administration of Tourism. The workshop aimed to increase the competitiveness of the Vietnamese tourism sector by providing knowledge about Korean culture. The goal is to improve the quality of services given to South Korean tourists. "The workshop is a platform for travel agents and tourism enterprises from the two countries to further strengthen tourism cooperation," said La Quoc Khanh, deputy director of the city's Tourism Department. In the first five months of the year, HCM City welcomed more than 123,200 Korean visitors, a year-on-year increase of 16%, Khanh said. Over the period, the number of Vietnamese tourists … [Read more...]

Prime Minister receives senior Japanese officials

Prime Minister Nguyen Tan Dung held separate receptions for President of the Japan–Vietnam Parliamentary Friendship Group Toshihiro Nikai and President of the Japan International Cooperation Agency (JICA) Tanaka Akihiko in Tokyo on July 3. The PM, who is in Japan for the seventh Mekong – Japan Summit, praised the Japan–Vietnam Parliamentary Friendship Group for their role in promoting bilateral relations. He asked the group to exhort the Japan government to provide Vietnam with more official development assistance, receive more Vietnamese nurses and trainees and encourage Japanese enterprises to operate in Vietnam. He also urged Japanese parliamentarians to continue backing Vietnam and ASEAN’s position on ensuring peace, security, maritime and aviation safety and freedom as well as call upon parties concerned to refrain from acts that can further complicate and extend disputes in the East Sea. Nikai said the group will work to foster the Japan-Vietnam … [Read more...]

PM Dung receives senior Japanese officials

Prime Minister Nguyen Tan Dung held separate receptions for President of the Japan–Vietnam Parliamentary Friendship Group Toshihiro Nikai and President of the Japan International Cooperation Agency (JICA) Tanaka Akihiko in Tokyo on July 3. The PM, who is in Japan for the seventh Mekong – Japan Summit, praised the Japan–Vietnam Parliamentary Friendship Group for their role in promoting bilateral relations. He asked the group to exhort the Japan government to provide Vietnam with more official development assistance, receive more Vietnamese nurses and trainees and encourage Japanese enterprises to operate in Vietnam. He also urged Japanese parliamentarians to continue backing Vietnam and ASEAN’s position on ensuring peace, security, maritime and aviation safety and freedom as well as call upon parties concerned to refrain from acts that can further complicate and extend disputes in the East Sea. Nikai said the group will work to foster the Japan-Vietnam … [Read more...]

VNREA announces Real Estate Expo in Hanoi

(VOV) - Aiming to promote a healthy sustainable real estate market and increase connectivity between buyer and seller, the Vietnam National Real Estate Association (VNREA) on July 31-August 3 will stage its first-ever real estate expo. With over 100 booths, the fair at the National Exhibition Centre in My Dinh, Hanoi is expected to attract the participation of hundreds of entities displaying a wide variety of products encompassing residential and commercial real estate. Most notably there will be a large number of vendors displaying building materials, interior and exterior decorating products along with home repairs, furniture and other housewares. Representatives from a host of financial institutions will also be on hand to provide consumers with loads of information of a variety of low interest home and business financing packages. In addition, seminars and dialogues will be held, giving out free advice and answers to investing and legal questions including those pertaining to … [Read more...]

Vietnam makes shortlist of London photo contest

Hoang Le Duy

(VOV) - Five images taken by Vietnamese photographers are among 111 shortlisted works for the prestigious title of Atkins CIWEM Environmental Photographer of the Year 2015 on show from June 22-July 10 inclusive, at the Royal Geographical Society in London. The 111 works were selected from approximately ten-thousand images submitted by photographers from across sixty countries. First place in the competition has been awarded to Indian photographer Uttam Kamati for his image entitled Watering Melon. The competition was launched in 2007 by the Chartered Institution of Water and Environmental Management (CIWEM), and is sponsored by Atkins, one of the worlds’ leading design, engineering and project management consultancies. The Atkins CIWEM Environmental Photographer of the Year competition honours amateurs and professionals of all ages. It provides an opportunity for photographers to share images of environmental and social issues with international audiences. It also aims to … [Read more...]

PM Dung attends economic forum of five GMS nations

(VOV) - On July 3, Prime Minister Nguyen Tan Dung attended the Economic Forum of the five Mekong Subregion (GMS) nations together with GMS leaders and approximately 200 Japanese business representatives. The forum is seen as a venue for GMS business representatives to exchange with their Japanese counterparts about the development potential and investment and business prospects in the Mekong sub-region. Participants said after 6 years of establishment and development, Mekong – Japan cooperation has greatly contributed to the Mekong sub-region’s socio economic development, principally infrastructure development, transportation and logistics services thus having turned the sub-region into an attractive investment destination. The Mekong Sub-region is considered a priority market of the Japan External Trade Organization (JETRO). At the forum, the JETRO President said the organization has opened representative offices in 6 GMS countries over the past three years (2012- 2015) … [Read more...]

Italian, Vietnamese leaders satisfied with flourishing relations

(VOV) -Vietnam Fatherland Front (VFF) President Nguyen Thien Nhan and Italian Foreign Minister Paulo Gentiloni expressed their delight at the growing ties of friendship and cooperation between the two nations at a recent meeting as part of Nhan’s working visit to Italy. The two sides highly appreciated the friendly relations and traditional cooperation nurtured for stronger growth by many generation of leaders and people of both countries over the past decades. Nhan and Paulo Gentiloni said trade and investment cooperation between the two countries are developing well but it is still far below the full potential and strengths of each nation. They suggested both sides should deploy specific solutions in each area aiming to increase bilateral trade and attract more Italian investments in Vietnam. The Italian FM affirmed continued support for the early signing of the EU-Vietnam Free Trade Agreement (EUVFTA) and the recognition of Vietnam’s market economy status. Minister … [Read more...]

Power output increases by 12.35%

The total amount of power produced during the first six months of this year was 78.74 billion kWh, a 12.35% increase compared to the same period last year, according to a report issued by the Electricity of Vietnam (EVN). The EVN put an additional five turbines into operation, with a total capacity of 2,654 MW, providing electricity to the national grid. In the face of the electricity overload caused by the prolonged heat wave, the EVN has undertaken efforts to ensure sufficient power supply. For the last six months of this year, the imported and produced power capacity is estimated at 80.32 billion kWh, the EVN said. The group aims to provide enough power for production and business, while exploring further hydropower options and load conditions to set up a plan for next year’s power supply. Minister of Industry and Trade Vu Huy Hoang asked the EVN to accelerate the electrification process in remote areas, such as Cham Island in central Quang Nam province and Lai Son in … [Read more...]

High hope for stronger Vietnam-Japan business links

1700055-pm-dung-2

(VOV) - The contours of a new, improved partnership between Vietnam and Japan are beginning to emerge on the second day of a three-day working visit by Prime Minister Nguyen Tan Dung to Japan. Speaking at a July 3 meeting with representatives from 15 leading transnational companies, the PM said the government has recently enacted new investment laws and regulations as part of a continuing effort to improve its business climate. "We are on a mission to make the nation more conducive to foreign investment," PM Dung told the group of business leaders from such companies as Tokyo-Mitsubishi Bank, Canon, Mitsubishi, Sumitomo, Hitachi and Bridgestone. The measures are part of wider reforms intended to diversify the economy and better comply with international standards and are specifically aimed at reducing red tape and bureaucratic foot-dragging. Reforms include removing some existing provisions to ease business applications and reducing periods for dealing with investment … [Read more...]

Japanese leader praises Vietnam’s cultural contribution

1700050-kanagawa

(VOV) - During remarks welcoming Prime Minister Dung to Japan’s Kanagawa Prefecture on July 3, the Governor noted a few of Vietnam’s key cultural and economic contributions to Japan. This visit is a celebration of the robust ties of friendship and family that has bound the peoples of our two nations together both culturally and economically, said Governor Yuji. "In furtherance of that relationship, this September we are holding a festival entitled Vietnam Days in Japan," Yuji added and we fully expect hundreds of thousands of visitors from across Japan to turn out. He also unveiled that plans are in the works for the government and the nation’s business community to form a new industrial zone in Vietnam aimed at boosting cooperation in the manufacturing and supporting services sectors. For his part, PM Dung thanked his host for a warm and gracious welcome, adding that the country is looking to broadening the alliance with Japan on a host of fronts and affirmed … [Read more...]

Manufacturing is Vietnam’s rock star

1700020-hsbc

(VOV) - With all the turbulence in the world, Vietnam stands out with the more upbeat news flow and economic data, according to HSBC. Exports accelerated in June by 18% year-on-year, defying gravity, and taking the year-to-date growth close to 10%. The PMI is equally positive, expanding sharply in the second quarter. While the June number decelerated to 52.2 from 54.8, the leading indicator – new orders minus inventories - rose sharply, suggesting output will rise in the months ahead. Credit growth, too, picked up by 17% year-on-year thanks to improving demand. Unequivocally, the Trans-Pacific Partnership (TPP) will be very beneficial for Vietnam, said HSBC. The country is rich in cheap labour and the trend will continue for the next two decades. Labour productivity is amongst the lowest in the region, but growing the fastest, thanks to more efficient FDI sectors. Since joining the WTO in January 2007, domestic firms have been ailing, thanks to inefficient allocation of … [Read more...]

Japan leader thanks PM Dung for cultural contribution

1700001-kanagawa

(VOV) - During remarks welcoming Prime Minister Dung to Japan’s Kanagawa Prefecture on July 3, the Governor noted a few of Vietnam’s key cultural and economic contributions to Japan. This visit is a celebration of the robust ties of friendship and family that has bound the peoples of our two nations together both culturally and economically, said Governor Kuroiwa Yuji. "In furtherance of that relationship, this September we are holding a festival entitled Vietnam Days in Japan," Yuji added and we fully expect hundreds of thousands of visitors from across Japan to turn out. He also unveiled that plans are in the works for the government and the nation’s business community to form a new industrial zone in Vietnam aimed at boosting cooperation in the manufacturing and supporting services sectors. For his part, PM Dung thanked his host for a warm and gracious welcome, adding that the country is looking to broadening the alliance with Japan on a host of fronts and … [Read more...]