Vietcombank Seals Vietnam's 1st Rate Swap Contract

State-run Bank for Foreign Trade of Vietnam (Vietcombank) said on Tuesday it has become the country's first bank to secure an interest rate swap agreement with a foreign bank.

The unlisted bank signed the contract with the undisclosed foreign bank on July 25 to swap interest rates and two transactions have been conducted so far for a combined value of nearly $30 million, a Vietcombank official told Reuters.

Vietnam Tests More Locally-made Light Planes

maybayluongdung_221.jpgTwo Vietnam-made amphibious light planes underwent successful test flights in South Vietnam on August 3-5.

The planes are the enhanced version of a light plane – actually Vietnam’s second locally-manufactured plane – which was tested last December, said the producers, technicians of the Vietnam Air Defense-Air Force.

Back in Vietnam, Refugees Happily Adjust

UNITED NATIONS | August 06, 2005 2:11:35 AM IST

Montagnard refugees returned or deported from Cambodia to Vietnam seem to be adapting, U.N. officials say after finishing their first monitoring visit.

Depository Will Ease Securities Deals

HA NOI — The State Securities Commission announced yesterday that it will soon open the Viet Nam Securities Depository (VSD) as part of the Government’s efforts to boost the country’s ailing stock market by facilitating transactions for investors, particularly those from abroad.

By using the depository services, overseas Vietnamese and foreign investors can place orders and purchase stocks, according to the State Securities Commission (SSC).

Meeting with Leader of the So-called DeGa Protestantism

NB: In a 3-part series, Thanh Nien newspaper journalists probe into the so-called Dega Protestantism in the Central Highlands.

Part 1 - June 27, 2005

Part 2 - June 28, 2005

Part 3 - June 29, 2005

Vietnamese Student Wins Top Microsoft’s Algorithm Prize

A Vietnamese student recently outdid 20,000 contestants from around the world to snatch the first Algorithm prize at Microsoft’s annual Imagine Cup 2005 final in Yokohama, Japan.

Twenty-two-year-old Nguyen Phuong Ngoc from northern Hai Phong city claimed the prestigious prize of the nine-category competition for students from across the globe.

Currently enrolled at Singapore’s Nanyang Technological University, Ngoc was twice mistaken for being a Singaporean representative during the contest, he said.

Vietnam Attends Pacific Army Chiefs Conference

A Vietnamese military delegation is attending the fourth Pacific Army Chiefs Conference (PACC IV) held in Bangkok, Thailand, from August 1-4.

During the conference themed "Impacts of Transformation on the Asia-Pacific Security Environment", participants have taken part in bilateral and multilateral discussions.

They have also exchanged views on the scope of transformation as well as its impacts on security of the Asia-Pacific region.

Garment and Textile Exports to the U.S. Reach 926 Million Dollars

Ha Noi (VNA) August 2 - Viet Nam exported 25 categories of garments and textiles with quota management to the US worth more than 926 million USD in the first seven months of this year.

Of this export value, 18 products having automatic visas contributed around 500 million USD.

The 338/339 category was the biggest hard currency earner with 379 million USD, followed by the 347/348 category at 247 million USD.

The seven-month export value reached around 1.3 billion USD including the value of non-quota items.

Chairman: Party, State Policies Ensure Basic Needs of Religious Organizations and People

Ha Noi (VNA) August 2 - The implementation of the Party's resolutions on religious issues and the Ordinance on Religions and Beliefs has met the basic needs of religious organizations and people, said Ngo Yen Thi, Chairman of the Government Committee for Religious Affairs.

Vietnam Religious Ordinance Promulgated

Ho Chi Minh City, 29 July: According to Catholic priest Vu Quang Trung of Jesus Christ from the Hien Linh Monastery, the Government Ordinance on Religions and Belief and its guidance decree have helped usher in a new chapter for spiritual activities of religious people. The promulgation of the mandate clearly reflects the state respect for people's religious and belief freedom, and their spiritual needs and activities, the priest added.

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