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.

Telecoms ministry proposes independent arbitration agency

Tue, 12/07/2004 - 10:59

Vietnam’s Ministry of Posts and Telecommunications (MPT) has recently proposed to the government the set up of an independent arbitration agency that would resolve trade disputes among telecoms service suppliers.
“Experiences from other countries show - and as suggested by the World Trade Organization – that it is necessary to establish an independent telecoms management unit in Vietnam," said Mai Liem Truc, deputy telecoms minister.

Donors pledge $3.4 billion in ODA for Vietnam in 2005

Thu, 12/02/2004 - 22:46

 
International donors on Thursday pledged to provide Vietnam with $US 3.4 billion in official development assistance, or ODA, in 2005 at the World Bank-chaired Consultative Group meeting in Hanoi.

About $US 2.14 billion was pledged by individual nations, with $100 million coming from international non-governmental organizations and another $1.2 billion from multilateral institutions like the World Bank.

Up to $170 million of the increased pledges for 2005 were to compensate for changes in foreign exchange rates.

Foreign airlines spark ticket price war in Vietnam

Thu, 12/02/2004 - 22:41

Foreign airlines in Vietnam have slashed their prices on international routes in an aggressive attempt to boost their share of the country’s aviation market.

Although United Airlines will officially launch its first flight from Ho Chi Minh City to San Francisco via Hong Kong in 10 days, it completed a discount campaign offering promotional fares of $US 720 on the same route two months ago.

Int’l donors to discuss Vietnam’s development at WB meeting

Tue, 11/23/2004 - 16:55

Around 50 bilateral and multilateral international donors to Vietnam will meet for two days in Hanoi next month to debate the country’s socioeconomic development, the World Bank (WB) said recently.

The meeting of the WB-chaired Consultative Group (CG) for Vietnam will discuss measures to improve the country’s competitiveness, its socioeconomic situation from 2001 to 2005 and the effectiveness of the official development assistance (ODA) that Vietnam has already received, according to the WB.

Vietnam set to get $2.8 bn in aid next year

Tue, 11/23/2004 - 16:51

International donors are likely to pledge about $2.8 billion in development aid to Vietnam in 2005, similar to this year's amount, the World Bank said on Tuesday, Nov 23.
"There is no reason to expect any drastic decline in aid," director of the World Bank in Vietnam, Klaus Rohland told a news conference ahead of a donor meeting in Hanoi next week.

Last December, international donors, including the Asian Development Bank, Japan and the European Union, agreed to provide nearly $2.84 billion to Vietnam in 2004.

FDI shows positive signs

Tue, 11/23/2004 - 16:26

Sai Gon Times Daily,

By QUOC HUNG - HCMC

Foreign direct investment (FDI) is getting more active in the country, with disbursements in the year to date having risen to a record high since the Asian financial and economic crisis in 1997-98.

Over the past 10 months, foreign-invested enterprises (FIEs) have disbursed US$2.37 billion, up 5.3% year-on-year and equivalent to 85% of the year’s target, says Nguyen Anh Tuan, deputy head of the Foreign Investment Department of the Ministry of Planning and Investment (MPI).

Vietnamese National Assembly passes competition law

Wed, 11/10/2004 - 16:00

Vietnam's National Assembly (NA) passed the new Competition Law with 77.89 percent voting in favor on Nov. 9, the fourteenth day of the month-long National Assembly session.

Many of the NA deputies' suggestions during the ongoing session were added to the bill, according to the NA lawmaking group.

One such recommendation is that when imposing fines on organizations and individuals who violate the competition law, the government should also cancel their business licenses.

Literary, art circles delighted at VN's joining Berne Convention

Wed, 10/27/2004 - 12:03

Literary, art circles delighted at Viet Nam's joining copyright convention
10/27/2004 -- 20:37(GMT+7)

Ha Noi (VNA) - The majority of the literary and art circles in Viet Nam were enthusiastic about the country's joining the Berne Convention for the Protection of Literary and Artistic Works on Oct. 26, said Vu Manh Chu, Head of the Culture and Information Ministry's Literary-Art Copyright Department.

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