Vietnam plans to cancel state subsidies on all oil products, projected at nearly $1 billion this year, by end-2008 as it moves to liberalize the fuel market in line with WTO commitments. The removal of subsidies would be done gradually, starting with diesel next year, the Vietnam Net reported on Thursday, quoting Deputy Finance Minister Tran Van Ta. "From the end of 2008 all gasoline and diesel products will be traded under market mechanism, ending financial aid to oil product traders at the end of 2008 at the latest," Ta said. … [Read more...] about Vietnam to scrap oil product subsidies by end-2008
Oil production is still increasing but it
Last week Viet Nam saw the commencement of the construction of the country's largest petrochemical project on 400 ha in the southern coastal Ba Ria-Vung Tau Province. With a total investment of almost US$4 billion to be contributed by two domestic partners, PetroVietnam and Vinachem, and two Thai partners, Vina SCG Chemicals and Thai Plastics and Chemicals companies, this mega Long Son Petrochemical Complex project is expected to begin operational in the first phase in late 2012 and be fully operational in 2014. It then will be the only domestic manufacturer of PE resin and VCM material for PVC production. The project will produce high-quality plastic resins to substitute imported products considerable valued at up to US$2 billion annually. The complex will also have support facilities including a port, warehouse and power plant. It is of great importance as it will further create sustainable development of petrochemical industries within the country, while contributing to the rapid … [Read more...] about Domestic oil production gets massive lift
Vietnamâ€™s efforts to reverse an oil output slump gained a boost as Salamander Energy Plc announced exploration plans on Tuesday and Soco International Plc cited a 2011 date for expanding production in the country. â€œA number of new blocks are being awarded,â€ Phil MacLaurin, country manager for Premier Oil Plc, which plans to begin Vietnamese production by 2011, said Wednesday. â€œAt every step of the oil industry food chain, Vietnam is still active.â€ … [Read more...] about Oil production outlook gets boost from Salamander, Soco
VietNamNet Bridge - The dollar price on the black market has been increasing for the last several years. However, there have been few transactions. Meanwhile, bankers have affirmed that they cannot see any pressure on the exchange rate. In Hanoi, since June 16, when commercial banks began raising the dollar purchase prices, the dollar prices on the black market have also increasing significantly. … [Read more...] about Dollar prices increase, but no pressure on exchange rate found
Your say (28-11-2008) A woman's work is never done, but at what age should she retire? Last week, Viet Nam News asked its readers for their opinions on the average retirement age for women. Should it be 50, 55-60 or over 60? Here are some responses: Lawry Beetinyeo, Singaporean, HCM City: There has been a common saying that 'a woman's place is at home' and this is still being said today. I do not know how many women would agree to it nowadays. Today, women have equal opportunities to receive a higher education if they are keen and their family can afford it or through scholarships. Getting a complete education is like having a passport to good employment and better living standards in the future. … [Read more...] about A woman’s work is never done, but at what age should she retire?