Five more FDI projects in HCMC await licenses

(SGT-HCMCJune 4, 1999) The HCMC Service of Planning and Investment has received for appraisal five foreign-owned projects with a combined investment capital of US(USDollar) 3.1 million, reports the service's project appraisal department.

The 15-year, US(USDollar) 500,000 P.E.B. (Vietnam) Co. Ltd., a venture by P.E.B. (Indochina) Ltd. of Cyprus, plans to provide consulting for, design, install and maintain prefabricated houses made by Zamil Steel, together with providing after-sales service. It also plans to open a plant and a spare-parts warehouse in Dong Nai.

U.K. to become Vietnam's fifth largest investor

(SGT-HANOI) The U.K. would become Vietnam's fifth largest investor if BP signed a US(USDollar) 1.8-billion deal with Vietnam in the near future, the British Embassy's trade counselor, John Wales, said at a news briefing in Hanoi yesterday.

He said his country is currently the 13th largest investor in Vietnam, but with the current US(USDollar) 716 million worth of investments, is the largest European investor here.

International Call Charge Lowered

Foreigners and foreign invested businesses living in Vietnam will pay the same price as Vietnamese citizens when they install telephones in their homes and at work from July 1, 1999, according to a recent decision by the country

Vietnam, China to Build Border Bridge

An agreement to construct a bridge across the Nam Thi river linking Lao Cai province of Viet Nam and Hekou province of China was signed in Hanoi on May 31.

The signatories were Vietnamese Deputy Minister of Transport and Communications Nguyen Viet Tien and Chinese Deputy Minister of Communications Li Juchang.

Under the agreement, the bridge, 140 metres long and 15 metres wide, will be built at a cost of VND 25 billion (USD 1.8 million), funded by the two countries.

Vietnam, Singapore Boost Economic Ties

Vietnam and Singapore discussed ways to boost bilateral co-operation during the fifth session of the Vietnam-Singapore Inter-Governmental Committee for Economic Co-operation in Hanoi on June 1.

The two sides focused their discussion on bilateral cooperation and reviewed Singapore's investment in Vietnam in the past years, including the agreement on helping train Vietnamese banking staff.

Industrial Output Increases 10 per cent

Viet Nam achieved an industrial production value of VND 67,939 billion (US $4.887 billion) in the first five months of this year, a 10.2 per cent year-on-year increase.

Big year-on-year increases were recorded in outputs of crude oil, 30.6 per cent; fertilizers, 13.6 per cent; bicycle, 22.4 per cent; motorcar assembly, almost 53 per cent; fishery processing, more than 18 per cent; and motorbike assembly, 45.5 per cent.

Vietnam- Gov't endorses major BOT water project

(THE SAIGON TIMES DAILY June 3, 1999) The Government has approved the second-phase of a major water project in HCMC under the build-operate-transfer (BOT) form, following a request by the Ministry of Planning and Investment and the city authorities.

Grand Imperial Saigon Water Company Ltd., an alliance by four companies from Malaysia, the U.K. and Hong Kong, plans to exploit water from the Saigon River.

Caring for Children in the Interests of the Nation

Vietnam is a young nation. Nearly 40 per cent of our population are children. Thirty million young Vietnamese citizens form the abundant labour source for the country in the future. "Children today, the world tomorrow" - the world's slogan of action for children, is also the principle reflected in the line and policies on child care and education of the Vietnamese Party and Government.

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