Car sales in Vietnam to soar despite price hike

Tue, 12/28/2004 - 17:45

The cost of buying a new car in Vietnam is expected to sky-rocket starting early 2005 because of a government decision to increase tariffs on automobiles, but the market is likely to continue booming.
As planned, the government will raise the excise duty on five-seated cars to 40 percent from the current 25 percent. The new tax rate will go into effect on January 1, 2005.

Sky-high prices

The tax hike will raise car prices by about 10 percent on average, according to automakers.

US dollar plunge upsets Vietnamese businesses

Tue, 12/21/2004 - 16:46

Vietnamese importers and exporters are facing significant business risks driven by the US dollar’s steep fall against major world currencies, according to financial experts.

Although the US dollar has recovered ground from recent record lows against the Euro, no one can guarantee its downward run has ended, said experts, and the unclearness has Vietnamese businesses worried.

Significant threat

Deputy PM presses for faster land allocation to ethnic groups

Tue, 12/21/2004 - 14:03

Deputy Prime Minister Nguyen Tan Dung urged local authorities of the Central Highlands Dak Doa District to speed up their efforts in allocating farm land to ethnic people in a bid to lift them out of poverty.

The Deputy Prime Minister made the request during a visit to Dak Doa District in Gia Lai Province on Dec.18, part of his working tour of the Central Highlands provinces, said a local official.

Vietnam unveils action plan to curb human trafficking

Tue, 12/21/2004 - 10:25

The Vietnamese government showed its unflinching commitment to fight human trafficking when it unveiled a draft action plan at a seminar in Ho Chi Minh City Dec. 18.

The draft action plan, authorized by Prime Minister Phan Van Khai, attempts to curb the lucrative business of trafficking women and children from Vietnam to China, Cambodia, Taiwan, Malaysia, Thailand and some Eastern European countries.

“The action plan aims to cut human trafficking rates by 50 per cent by 2010,” announced Deputy Prime Minister Pham Gia Khiem.

For Vietnamese victims of Agent Orange/dioxin

Tue, 12/14/2004 - 09:54

Effects of Agent Orange

In Vietnam, during the period of 1961-1971, American army sprayed more than 80 million liters of toxic chemical substances, most of which were Agent Orange which contained about 400 kilograms of dioxin. This weapon of mass destruction has caused great suffering to countless families and left serious consequences on the natural environment and generations of Vietnamese.

Amnesty recipients to receive job assistance; PM

Wed, 12/08/2004 - 23:47

Vietnam’s prime minister has recently asked local authorities to provide vocational training and jobs for amnesty beneficiaries in 2004 and 2005 in order to help them easily integrate back into society.
PM Phan Van Khai sent a note to provincial and municipal People's Committee leaders calling upon them to cooperate with the Fatherland Front and socio-economic organizations to lend a helping hand to amnesty recipients by providing loans and jobs.

Busy Route Prompts Air Battle

Tue, 12/07/2004 - 11:23

The Vietnam-U.S. aviation transport agreement is taking off with increased travel and trade expected between the two countries. Competition on the route is becoming intense.

After more than five years of negotiations, the Vietnam-U.S. aviation transport agreement was signed in Washington in December last year. The agreement, effective since January, is not only a landmark for the transport sector, it will also has a strong impact on Vietnam's economy.

Buddhist monk creates orchid kingdom in Central Highlands

Tue, 12/07/2004 - 11:16

After setting eyes on the exquisite cymbidium orchids in the Central Highlands city of Da Lat almost 15 years ago, a Buddhist monk was inspired to create an orchid kingdom.

Buddhist Monk Thich Hue Dang started collecting cymbidium orchids in the late 1980’s when the mania for them began to subside and growers were selling them off.

Ten years later, Monk Thich Hue Dang was the owner of the largest and most beautiful cymbidium orchid farm in the city, thus gaining the love and respect of local growers as well as orchid lovers across the country.

Vietnam to raise $2.1 billion via bonds in 2005

Tue, 12/07/2004 - 11:14

Vietnam plans to raise 33.25 trillion dong ($2.11 billion) through government bond issues in 2005, 44 percent more than this year, to cover a widening budget deficit, a finance ministry report said Monday.
The report forecast the budget deficit in 2005 would widen more than 10 percent to 12.8 trillion dong ($814 million) from an estimated gap of 11.6 trillion dong this year, due to a three-fold increase in state employees' salaries.

Of the total bond issue next year, 23.25 trillion dong would be used to service interests and to repay matured bonds.

Canada's Talisman to explore oil, gas off Vietnam

Tue, 12/07/2004 - 11:12

Canada's Talisman Energy Inc. said on Monday it had won the right to explore oil and gas in block 15-2/01 in the Cuu Long Basin, off Vietnam's southern coast.

Details of oil and gas reserves in the block were not immediately available.

Block 15-2/01 is adjacent to Vietnam's second biggest producing oil field, the Su Tu Den (Black Lion), which churns out around 85,000 barrels per day (bpd).

Talisman is the operator of oil fields in the PM-3 CAA block and Block 46-Cai Nuoc that produce Vietnam's Bunga Kekwa crude, with output averaging 60,000 bpd.

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