Draft regulations will benefit US-owned companies

HA NOI — Draft regulations now being written by the Ministry of Trade (MoT) will allow US - owned enterprises in Viet Nam to import materials and goods.

The new regulations accord with provisions of the 2002 Viet Nam – US Bilateral Trade Agreement, says a statement issued by MoT.

The provisions stipulate that America-owned producers and manufacturers would be allowed to import material three years after the agreement became effective.

The exceptions are the export-processing industry and services, including hospitality, insurance and consultancy, it says.

Laws on navigation, international treaties passed

HA NOI — Two laws – the Maritime Navigation Law (revised) and the Law for Signing, Accession and Enforcement of International Treaties – were approved by the National Assembly yesterday morning.

In his report explaining the changes to the maritime law, the National Assembly Legal Committee Chairman Vu Duc Khien said they would ensure it conformed with international practise.

This would further develop Viet Nam’s maritime industry.

The law with its 18 chapters and 261 articles will come into force early next year.

Construction ‘genie’ moves pagoda

VietNamNet - The three-door pagoda gate weighing more than 100 tons moved slowly to the cheers of hundreds of people as Nguyen Cam Luy, dubbed the “Lamp Genie”, completed his 201st project.

Located on Nam Ky Khoi Nghia Boulevard, the highway that connects Tan Son Nhat Airport with HCM centre, Vinh Nghiem pagoda is an important historic and cultural relic. The City’s plan to widen the road, however, required moving the 100-ton gate 4 meters back.

State budget audit to be published in media

Vietnam’s National Assembly on May 20 approved the proposed Audit Law, which requires the audit report of government budget spending to be published in the media.
The bill also requires other audit reports to be disclosed to the public as agreed by the country’s legislative body.

The draft law allows the NA to establish a State Audit authority to help the NA tighten control over government budget spending.

Cape Varella – where sunlight seeps into Vietnam

One of Vietnam’s most fascinating and unforgettable attractions is Cape Varella, located in central Phu Yen province,where visitors can catch the first sunlight into the country as the Cape lies at the easternmost point.

Locally known as Dien, Dai Lanh or Ke Ga, visitors can capture the beauty of sunrise at Cape Varella where the sea color changes from dark purple to pink and then into a brilliant light after the sun slowly rises.

Global fluctuations boost VN economy

HCM CITY — The price fluctuation of essential products like rice, steel and gold on the world market in recent days has had a positive impact on the domestic economy and for consumers.

The average export price of Viet Nam’s rice is US$247 a tonne, up $40 a tonne compared to last year. The country has exported 1.87 million tonnes of rice worth $466 million so far this year.

Although the export rice volume has only increased ten per cent over the same period last year, its export value has increased by 37.6 per cent.

Viet Nam rejects fabricated information at UN session

NEW YORK — A Vietnamese permanent representative to the United Nations (UN) has refuted fabricated information on Viet Nam’s situation provided by the Transnational Radical Party (TRP).

Nguyen Tat Thanh, the Minister Counsellor and Deputy Permanent Representative of Viet Nam to the UN, said the TRP, a non-governmental organisation (NGO) with consultative status with the UN Economic and Social Council (ECOSOC), has allowed the Ksor Kok’s Montagnard Foundation Inc (MFI) to take advantage of UN forums to distribute fabricated information regarding Viet Nam.

Viettel, Ericsson sign deal to boost GSM network

HA NOI — Ericsson, the world’s leading mobile systems supplier, signed an agreement yesterday with Viettel, Viet Nam’s third-largest mobile phone company, to expand Viettel’s Global System for Mobile Communication (GSM) network.

The Swedish firm said that under the agreement it will provide Viettel, which is run by the Vietnamese military, with core and radio network access equipment, service layer platforms, network rollout and support services.

Information about the agreement’s value and timeframe for implementation was not revealed by Ericsson.

Tourism up, but VNAT not satisfied

HA NOI — Even though tourism continues to soar, the Viet Nam National Administration of Tourism believes there is still room for improvement.

During the first quarter of 2005, 36 per cent more foreign tourists entered the country than during the same period last year, according to Viet Nam National Administration of Tourism (VNAT).

The number of local tourists has also risen by 7 per cent during the same period.

VNAT expects to welcome 3.2 million overseas tourists this year, up 14 per cent from last year.

Vietnam mobile market heats up

16:21' 16/05/2005 (GMT+7)
VietNamNet – The mobile market in Vietnam is proving to be very lucrative, and is expected to have a high growth rate in future, according to experts at the second Mobile Vietnam Meeting.

In 2005, two additional providers were licensed to establish mobile phone services - the 092 network for Hanoi Telecom Corporation, and the 096 network for the Vietnam Power Telecom Corporation (VP telecom - bringing the number of domestic mobile phone service providers to six.