Trade fair helps boost commerce with Cambodia

As many as 100 businesses from the Mekong Delta are featuring their products at a border trade fair underway in southern An Giang province, seeking trade opportunities with Cambodian partners. The week-long Khanh Binh border gate fair attracted some 10,000 residents living along the border between An Giang and the Cambodian province of Kandal on its first day on April 9. A wide range of consumer products, handicrafts, and goods for agricultural production are on display at 100 pavilions. Co-organised by the An Giang Trade and Investment Promotion Centre and the Saigon Investment Promotion and Cultural Development Company (Saigon IPC), the event aims to fully exploit the economic potential of the Khanh Binh border gate. At the beginning of this year, the two Governments kick-started the construction of a 40 million USD bridge to connect An Giang with Kandal. Once finished, the work will help further enhance economic development in border areas and two-way trade.-VNA … [Read more...]

Port is left in a storm

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A host of difficulties are hampering Saigon Port's removal plan. Saigon Port's According to Saigon Port Authority's (SPA) general director Le Cong Minh, the firm's biggest difficulty upon removal was where to source capital for building a new port. To become financially viable for building the new port, the firm had to change the usage function of the existing port's land, Minh said. He added that the land transfer plan was not ratified by Ho Chi Minh City People's Committee, so SPA could not draw an investment plan to source investment for the new port project. "Decision 46/2010/QD-TTg allows removing port businesses to take loans for building new ports. However, taking on costly loans will drive up investment expenses and badly affect project's efficiency," Minh added. Another hindrance was the lack of roads. As planned, the Saigon-Hiep Phuoc port project's first phase with a handling capacity of 8.5 million tonnes per year at a total investment of over VND3 trillion … [Read more...]

Trade fair helps to promote ties with Cambodia

The opening ceremony of the Cam-Viet Fair 2011

The second Cambodia-Vietnam trade and investment fair (Cam-Viet Fair 2011) opened in Kampot town, 150 km east of Phnom Penh, Cambodia, on Aug. 24. On display at the five-day event, held by the Sai Gon Investment Promotion and Cultural Development Company (Saigon IPC), are garments and textiles, leather, food, medicines, cosmetics, household utensils, home decorations and services. Addressing the opening ceremony, Saigon IPC Director Nguyen Duc Nghi, head of the fair's organising board, said the event aims to raise position held by Vietnamese products and businesses in Cambodia. The fair offers a chance for the two countries' businesses to exchange experience in production while helping them expand distribution channels and approach consumers, he said. Ung Mien Hua, a representative from local authorities, expressed his hope that the event would contribute to enhancing traditional friendship and comprehensive cooperation as well as economic, trade and investment ties between … [Read more...]

Southern ports dragging the chain

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VietNamNet Bridge - A number of seaports in Ho Chi Minh City's outskirts are underperforming, causing a huge waste of infrastructure and undermining the city's competitive advantage. "The city's ports are losing customers since many companies now bring their goods to some other ports in Ba Ria Vung Tau province. If things continue, we will possibly lose 50-70 per cent of the goods handling volume in the next five years," Phuong said. … [Read more...]

City promises hefty aid for major port town project

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HCMC - The HCMC government on Wednesday pledged around VND600 billion (US$30 million) in loan interest support over three years for the developer of a major port town project in the city's southern part. Speaking at a working session here in the city with Tan Thuan Industry Promotion Company (IPC), the project developer, HCMC vice chairman Nguyen Trung Tin threw support behind the city's satellite port town called Hiep Phuoc in Nha Be District. The North-South Highway that will play a role in the development of Hiep Phuoc port and urban area in southern HCMC - Photo: Kinh Luan … [Read more...]

US$4.6bil pledged for tourism projects in Ba Ria-Vung Tau

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Ba Ria-Vung Tau Province last year attracted US$4.6 billion into tourism projects, including three new projects worth US$780 million on 540 hectares, according to the Vung Tau Investment Promotion Center (IPC Vung Tau). The new projects are the Safari Binh Chau Wild Animal Park (US$500 million), the Bai Sau Tourist Complex (US$200 million) and the Bai Truoc Complex with a five-star hotel, apartments and an office building (US$80 million). As of the beginning of this year, the province was home to 154 tourism investment projects covering nearly 11,500 hectares with investment capital of over VND35 trillion and US$11 billion. Meanwhile, disbursed capital in the sector reached over VND4 trillion and US$111 million. In particular, the Saigon Atlantis Hotel complex increased its investment capital to US$4.1 billion from the initial US$300 million. A representative from IPC Vung Tau said these projects made up a big portion of the province's total investment capital (18% of local capital … [Read more...]

US$4.6 billion pledged for tourism projects in Ba Ria-Vung Tau

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HCMC - Ba Ria-Vung Tau Province last year attracted US$4.6 billion into tourism projects, including three new projects worth US$780 million on 540 hectares, according to the Vung Tau Investment Promotion Center (IPC Vung Tau). The new projects are the Safari Binh Chau Wild Animal Park (US$500 million), the Bai Sau Tourist Complex (US$200 million) and the Bai Truoc Complex with a five-star hotel, apartments and an office building (US$80 million). A view of Bai Truoc Beach in Vung Tau City, Ba Ria-Vung Tau Province. Wonderful beaches and landscapes in the province have attracted a lot of tourism investment projects - Photo: Thanh Tung As of the beginning of this year, the province was home to 154 tourism investment projects covering nearly 11,500 hectares with investment capital of over VND35 trillion and US$11 billion. Meanwhile, disbursed capital in the sector reached over VND4 trillion and US$111 million. In particular, the Saigon Atlantis Hotel complex increased its investment … [Read more...]

Ba Ria-Vung Tau leads FDI attraction

The province has closed out a successful year of FDI attraction in 2009 with 26 newly licensed and 12 expanded projects, according to a latest report from the provincial Investment Promotion Center (IPC Vung Tau). The projects were licensed into the hotel, resort, entertainment and heavy industry sectors, according to the province. Of note is Saigon Atlantis Hotel project in which Winvest LLC of the U.S. has increased its capital from US$300 million to US$4 billion. The province has also licensed a US$500 million safari park project in Xuyen Moc District, while Charm Urban Development Co. is proceeding with a US$600 million project in the new Toc Tien urban area. As of the end of 2009, 260 FDI projects are still operational in the province with total investment capital of US$25.24 billion, of which those in industrial parks made up US$9.64 billion. In the whole year of 2009, the amount of disbursed FDI totaled US$930 million, making up some 10% of country's capital … [Read more...]

Pioneers of HCMC’s marine economy

A view of Hiep Phuoc Port, the construction of the port by Tan Thuan Industrial Promotion Corporation to replace the Saigon port has helped reduce traffic jams cuased by trucks traveling in and out of the Saigon port.

The Tan Thuan Industrial Promotion Corporation (IPC) is credited as a tenacious leader in developing Ho Chi Minh City's marine economy. Prior to 1989, the city's south was surrounded by marshy swamp areas with very few residents. Seeing the economic value of reclaiming the area, the city's Party Committee and administration established a board to develop a project called the "Tan Thuat Export Industrial Park Program," which would be a predecessor of IPC. With little funding and not much experience, the first IPC officials visited each commune in the area, trying to convince residents to relocate so that the Tan Thuan Export Processing Zone could be built. They then called for investment. At the time, few Government policies were in place to provide assistance, and seeking investment was difficult. Officials persisted, however, and after four years the zone was built on an area of 300 hectares. It was the first project of IPC's "Developing the city towards the East Sea" program … [Read more...]

Going soft

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While ports cannot call for ships

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For most seaports worldwide, what matters most for operators is whether shipping lines will have their vessels drop anchors there or not. For Cat Lai Port, the biggest seaport in HCMC, the problem lies elsewhere: infrastructure outside the port. In recent days, transportation companies and shipping agents have complained of the increasing traffic congestion on the road to and from Cat Lai Port in the city's District 2. The traffic congestion outside Cat Lai Port is one of many case studies about the lack of a synchronous infrastructure system, especially roads linking to ports, and has dampened the development of seaports not only in HCMC, but also in the southern focal economic zone. Container trucks queue up on Highway 25B en route to Cat Lai Port in HCMC's District 2. The traffic congestion has dealt a heavy blow to the normal operation of the port - Photo: Kinh Luan Cargos wait for ports, ports wait for roads Last week, the two-lane Highway 25B that leads to Cat Lai Port was … [Read more...]

Large container port to come up in southern Vietnam hub

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A large, modern container port will be built in Ho Chi Minh City to meet the burgeoning transportation demand and to spur economic growth in the region. The Ministry of Transport has approved the US$300 million project to come up at the Hiep Phuoc Industrial Zone in the southern commercial hub's suburban Nha Be district. The 40 ha port is a joint venture between Vietnam's Tan Thuan Industrial Promotion Co. (Tan Thuan IPC) and the UK-based P&O Ports Corp. … [Read more...]

Social News 4/11

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Vietnam plans World Day of Road Traffic Victims Vietnam is planning a series of events to mark World Day of Remembrance for Road Traffic Victims (November 16), the third of its kind to be held in Vietnam. From November 3-8, the National Committee for Traffic Safety will set up five working groups which will visit the families of road traffic victims in Hanoi, Ho Chi Minh City, the northern provinces of Lao Cai and Yen Bai, the central provinces of Quang Tri and Thua Thien-Hue, and Can Tho city and Vinh Long in the south. … [Read more...]

An Giang province, Cambodian localities establish twin villages

The southern province of An Giang and the Cambodian province of Takeo twinned their border villages, making it easier for locals to provide mutual support. An Nong and An Phu communes and Tinh Bien town in Vietnam are twinned with Phnum Den, Xom and Kom Nop communes in Cambodia's Kirivong district. The signing ceremony in An Giang on November 3 is part of a memorandum of understanding between the Chairman of the provincial People's Committee and the Governor of Takeo province. From now on, the two sides will be able to coordinate trade and cultural exchanges better in order to increase mutual understanding.-VNA … [Read more...]

Vietnam, Cambodia to build bridge next year

Le Anh Work will begin next January on the Long Binh-Chrey Thom Bridge linking Vietnam's southern province of An Giang and the Cambodian province of Kandal. To facilitate the construction of the bridge, authorities of the two sides will simplify immigration procedures for construction workers and exempt machinery and equipment from export and import tariffs. When in place, the bridge will provide the shortest linkage between Phnom Penh and the Mekong Delta, thus stimulating bilateral economic and trade cooperation. The project is part of a credit agreement signed by the two governments during the Vietnam visit last week by Cambodian Prime Minister Hun Sen. Speaking at the signing ceremony, Secretary of State from the Cambodian Ministry of Public Works and Transport Sokhom Pheakavanmony proposed building a Vietnam-Cambodia railway, and economic and trade areas around the bridge. Vietnamese Deputy Minister of Transport Nguyen Van The agreed at the railway project, saying this … [Read more...]

Social Headlines December 30

The implementation of a strategy on ethnic affairs until 2020 was launched at a national conference in Hanoi on December 28, during which, ministries, agencies and localities across the country were assigned with key tasks to realise the set goals.

Expanded Noi Bai-Terminal T1 inaugurated The expanded Terminal T1 of Noi Bai International Airport was officially put into operation on December 29. Terminal T1 was inaugurated in 2001 with a design capacity of serving 6 million passengers per year. However, a two-fold increase in numbers of passengers in recent times forced the Airports Corporation of Vietnam (ACV) to upgrade the terminal. The expanded project was built on 25,000 sq.m by ACV at a cost of VND500 billion. It included five departure and two arrival gates. The same day, nearly 3,000 Jetstar Pacific passengers had their customs procedures cleared at the new expanded terminal. Jetstar Pacific General Director Le Hong Ha said the new terminal helps save time for procedure clearance and improve the quality of services. Three die in boat accident Three women were killed in a boat accident in Tam Ky City in the central province of Quang Nam yesterday. The boat was carrying six people when it sank in the My Cang River … [Read more...]

Work on Long Binh – Chrey Thom bridge to start

Construction of the Long Binh - Chrey Thom Bridge linking the southern province of An Giang and the Cambodian province of Kandal will start next January on the occasion of the 35 th anniversary of Cambodia 's Victory Day. An agreement to this effect was signed by representatives of the Vietnamese Ministry of Transport and the Cambodian Ministry of Public Works and Transport in Ho Chi Minh City on December 27, as part of a credit deal signed between the two Governments on December 26. Once completed, the bridge will provide the shortest route connecting Phnom Penh capital in Cambodia and Vietnam 's borderline, thus stimulating economic and trade growth on both sides. Secretary of State from the Cambodian Ministry of Public Works and Transport Sokhom Pheakavanmony proposed that in addition to the bridge, the two countries should collaborate to build surrounding economic and trade areas, a Vietnam - Cambodia railway and other key transport facilities. Deputy Minister of … [Read more...]

Vietnam, Cambodia provinces to boost cooperation

Officials from the Mekong Delta province of An Giang and the Cambodian provinces of Ta Keo and Kandal met in Chau Doc town on July 19 to review the results of co-operation in the first half of 2010 and discuss ways to strengthen ties in the second half of the year. Both sides noted with pleasure the positive results achieved in a wide range of fields, including border security, the economy, commerce, agriculture, culture, tourism, health care, transport, border demarcation and marker planting, and in the search and repatriation of the remains of volunteer Vietnamese soldiers who laid down their lives in Cambodia. Concerned agencies from the three provinces have regularly maintained the exchange of information, conducted joint patrols to protect the shared border, and worked to prevent and combat crime. The officials discussed measures to further boost cooperation in the remaining months of 2010, focusing on maintaining social order and security along the common border, … [Read more...]

Vietnam, Cambodia provinces to step up cooperation

Officials from the Mekong Delta province of An Giang and the Cambodian provinces of Ta Keo and Kandal met in Chau Doc town on July 19 to review cooperation results in the first half of 2010 and discuss ways to boost cooperative ties in the second half of the year. Both sides noted with pleasure the positive results achieved in a wide range of fields, including border security, the economy, commerce, agriculture, culture, tourism, health care, transport, border demarcation and marker planting, and in the search and repatriation of the remains of volunteer Vietnamese soldiers who laid down their lives in Cambodia . … [Read more...]

Social News 6/11

Drug smuggling ring brought to light Ho Chi Minh City police announced they have smashed a gang trafficking drugs from China. The police said they opened their investigation last month after discovering a man named Nguyen The Manh in Tan Binh district selling drugs to small dealers in Ho Chi Minh City. From Manh, the police tracked down more suppliers and finally reached the ring leader, 36-year-old Vu Xuan Nhat from the northern province of Hai Duong. Nhat bought drug in China and transported his goods by land through northern provinces to sell in the southern city. … [Read more...]