Vinh Phuc seeks investment from S Korea The northern province of Vinh Phuc promoted its potential and called for investment at a conference held in Gyeonggi Province in South Korea on Friday. Speaking before an audience of South Korean businesspeople, Chairman of Vinh Phuc provincial People’s Committee Nguyen Van Tri highlighted the province’s convenient location in Viet Nam’s northern key economic zone and favourable natural conditions suitable for industry, tourism and hi-tech agriculture. He informed the South Korean business circle that the province has made efforts to streamline its administrative procedures, upgrade infrastructure, especially at industrial zones, and train the local labour force. The provincial leader reported that Vinh Phuc is now home to more than 300 foreign direct investment (FDI) projects, including many run by South Korean corporations such as Partron Vina, Haesung Vina, Bangjoo and Interflex. Several more South Korean … [Read more...] about BUSINESS NEWS IN BRIEF 1/8
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World Coffee Prices Soar to 7-year High Low supply caused last week's world coffee prices to hit the highest peaks the market has seen since May 1999. Prices are surging on the back of lower supplies, especially from Viet Nam, the world's second-largest coffee producer, where heavy rain has disrupted harvests. The price of Robusta, of which Viet Nam is the world's largest supplier, is currently US$1,585 per ton, an increase of US$126 per ton compared to that of early last week. Viet Nam's two large coffee-producing regions, Dak Lak Province and Lam Dong Province, saw their prices rise to VND20,800 per kilogram (in Buon Me Thuot) and VND20,500 per kilogram (in Di Linh) respectively. Analysts forecast that coffee prices will remain high until Viet Nam begins the new harvest in November 2006. Arabica prices from Brazil—the world's largest coffee producer—are also on the rise. Swiss Personnel Group Launches in VNAdecco SA, a Swiss international personnel development … [Read more...] about Business News Brief
* Vietnam may fail to achieve its goal of attracting at least US$15 billion of committed foreign direct investment this year amid a faltering global recovery and a domestic growth slowdown. "It will be very hard to meet the target," said Do Nhat Hoang, head of the Foreign Investment Agency at the Ministry of Planning and Investment. "We are facing domestic economic difficulties, fueled by unfavorable developments in global markets that have negatively impacted foreign investment this year," he told reporters in Hanoi on Wednesday. * Progress in free-trade talks between the European Union and Vietnam may trigger a resurgence of investment in the Southeast Asian nation from companies within the 27-nation bloc, the EU's top representative in Vietnam said. Early headway in negotiations would boost interest in Vietnam even before an accord is signed, Ambassador Franz Jessen, head of the European Union delegation to Vietnam, said in an interview. * Several banks are waiting for the … [Read more...] about News briefs
Sports ministry official absent at news briefing Tu Hoang and Lan Nhi By Tu Hoang and Lan Nhi - The Saigon Times Daily HANOI - A representative of the Ministry of Culture, Sports and Tourism did not show up at a news briefing held on April 1 after the Government's regular meeting as public concerns are mounting over a patchy plan to host the Asian Games 18 in 2019 (Asiad 18). The media asked so many questions about Asiad that Minister and Head of the Government Office Nguyen Van Nen called for a stoppage of discussion about this. Nen, however, said, "This morning the Prime Minister assigned the Minister of Culture, Sports and Tourism to report on the matter at a meeting slated for next week so that the Prime Minister can decide. "We can believe that the Prime Minister will certainly make an appropriate conclusion." At the Government meeting on April 1 morning, Prime Minister Nguyen Tan Dung reproached the sports ministry for failure to inform him of the Asiad hosting plan. "I … [Read more...] about Sports ministry official absent at news briefing
By Dr. Tung Bui, Faculty Director of Vietnam Executive MBA, University of Hawaii There has been a bit of discussion about bananas lately. In Vietnam, the recent success of growing quality bananas and the export of high-yield banana flowers and leaves from the commune of Tan Long, Huong Hoa, Quang Tri, have been praised as a successful initiative by local farmers to reduce poverty. Bananas are one of the most important and traditional fruits in Vietnam. According to the FAO, annual commercial production of bananas is just over one million tons. This number seems small. And statistics should take into account the large number of additional bananas grown by family farms in small production outputs, for local and family use. According to Reuters, the global export market of bananas is worth $7 billion. If Vietnam wants to join the world's top producers of bananas for a share of this growing market, it has to quickly modernize its production. According to the United Nations, Uganda, China, … [Read more...] about NEWS BRIEF & COMMENT: The Chiquita-Fyffes Merger: Should Vietnamese banana farmers adopt mass production or product diversification?