US $885 Million of Foreign Investment

Nhandan July 4, 1999 - Vietnam has attracted some US $885 million as investment capital in the first half of 1999, according to statistics released by the Ministry of Planning and Investment (MPI).

According to MPI figures, there were 109 new foreign direct investment (FDI) projects with total investment capital of US $601 million and 58 existing projects were also applying for capital increase. There are now about 2,123 foreign direct investment projects in effective operation in Vietnam to date with total invested capital of over US $35 billion.

Vietnam to Export Crude Oil to Thailand

Nhan dan July 4, 1999 - Vietnam has planned to export crude oil for Thailand's oil refineries and import refined products.

This is one of the significant schemes discussed at the sixth meeting of the Vietnam-Thailand Joint Commission for Economic Co-operation recently held in Hanoi.

The Thai Foreign Minister Surin Pitsuwan reconfirmed the great potential in oil co-operation between the two countries, at a press conference.

US $10 Million Grossed in Tea Export

Nhandan July 4, 1999 - 6,200 tonnes of different kinds of tea were exported by the Vietnam Tea Corporation in the first half of this year, achieving nearly US $10 million worth of export, a 2,000 tonnes and about US $2.6 million increase compared to the same period last year.

Korea Helps Set up Stock Exchange

Nhandan July 4, 1999 - According to an agreement signed on July 2, 1999 between the Ministry of Planning and Investment of Vietnam and the Embassy of the Republic of Korea in Vietnam, the Republic of Korea International Co-operation Agency (KOICA) will implement the second phase of the technical assistance programme to set up a stock exchange of Vietnam (SEV).

Ho Chi Minh City Attracts New Investment

Ho Chi Minh City has attracted 36 more foreign investment projects with total investment capital of US $57.1 million in the first half of 1999.

Of these, 24 projects were outside industrial zones (IZs) and export processing zones (EPZs) with total capital of US $40.6 million.

To date, there are 768 foreign investment projects in Ho Chi Minh City with total capital of US $9,925 million. EZs and EPZs have attracted 46 projects with total investment capital of US $265.5 million.

58,000 Tones of Rubber Produced

Nhan dan June 28, 1999 - The Vietnam National Rubber Corporation has produced some 58,000 tones of rubber in the first six months of the year, according to a corporate report released at a review meeting in Ho Chi Minh City on June 24.

Vietnam's Exports Reach Nearly US$ 5 Billion In The First 6 Months of 1999

VNA: HANOI, June 28 - Viet Nam's export turnover in the first six months of this year reached nearly US$ 5 billion, representing 50 percent of the yearly plan and a year-on-year increase of 7.7 percent.

Vietnam Licenses First 100% Foreign-Owned Life Insurer

VNA HANOI, June 28 - The first wholly foreign-owned life insurance cmpany has received an operation licence from the Ministry of Planning and Investment (MPI).

The Chinfon - Manulife Insurance Company (CMIC) a joint-venture between Taiwanese Chinfon Global Corp. and Manulife Financial of Canada, is capitalised with US$ 8.5 million to which the former contributes 40% and the later, 60%. It plans to begin operations in August.

Vietnam to Pursue One Price System

VNA, HANOI, June 28 - Vietnam officials are optimistic about related agencies next month beginning to implement the single-price policy for foreign investors.

The dual-pricing policy that discriminates against foreign investors will be gradually lifted and they will benefit from privileges on land lease price, salary payment in Vietnamese Dong and other measures.

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.