A joint Vietnam-Slovakia business exchange was held in Hanoi on 27 January to increase economic, trade and investment cooperation between the two countries, VOV news reported. Addressing the event, Vice Chairman of the Vietnam National Assembly Nguyen Duc Kien affirmed that the Vietnamese government attaches great importance to strengthening ties with Slovakia and it’s time for the business communities of the two countries to boost investment cooperation. He hoped that businesses would discuss specific measures to seek their investment opportunities, establish partnerships and enter their huge European and ASEAN markets. Slovak National Council Speaker Pavol Paska pointed out both countries’ potential and said they can cooperate in energy, transport, health care and national defense. Slovakia supports bilateral cooperation and it believes that such cooperation will bring about good results, said speaker Paska. Representatives of 10 Slovak economic groups and businesses introduced their potential fields in transport, pharmacy and construction to nearly 40 Vietnamese businesses. The event was co-hosted by the Slovak Embassy and the Vietnam Chamber of Commerce and Industry. (neurope.eu)

The Mekong Delta province of Tien Giang is capturing strong attention from investors, local and foreign alike, with trillions of Vietnam dong pledged by investors at a conference there on Friday.The provincial government awarded licenses to nine projects worth VND3.2 trillion, or nearly US$180 million, and signed 15 other memorandums of understanding with investors, who pledged to pour VND10.8 trillion more. The results were announced at the first-ever investment promotion conference in Tien Giang, some 50km southwest of HCMC, which drew the participation of senior leaders and nearly 1,000 entrepreneurs.

Among the new investors are HCMC-based Khang Thong Construction, Trading, Service Joint Stock Company, which will spend VND1.1 trillion developing Binh Dong Industrial Park in the province, and Dai Ngan Co., Ltd., which will build a new urban center worth more than VND740 billion.

Hong Kong-based Golden Resources Development International Ltd. obtained an investment certificate for a tap water distribution project worth VND368 billion for the eastern part of Tien Giang Province. This company has invested in several projects in the country and Tien Giang Province over the past 20 years.

Tran The Ngoc, chairman of the province, noted that the development of industrial park infrastructure, new urban centers, tourism, ports, services and manufacturing are areas of great potential in the province.

At the conference, graced by State President Nguyen Minh Triet and Deputy Prime Minister Hoang Trung Hai, investors also showed their keen interest in these sectors, as manifested in memorandums signed at the event.

The would-be investor Hoang Quan Mekong, for example, has plans to develop infrastructure of Tan Phuoc II industrial park worth VND1.2 trillion, while Tien Giang Industrial Park Infrastructure Development Joint Stock Co. has plans to pour VND1.5 trillion to develop infrastructure of some other IPs in eastern Tien Giang Province.

There were also four memorandums in the housing development sector, with Tien Giang Construction and Investment Joint Stock Co. alone pledging to develop Tan Phuoc villa project worth 1.05 trillion.

President Nguyen Minh Triet in addressing the event called on the province to provide an open business climate, and urged investors to tap advantages of the promising land.

Meanwhile, Deputy PM Hoang Trung Hai recommended the southern province to offer more incentives for investors in terms of land allocation, services and qualified labor force.

Tien Giang is becoming a hotspot for investors given the many infrastructure projects being developed that will highly benefit the province and thus investors.

The agriculture-based locality has the HCMC – Trung Luong highway project under construction. Once opened to traffic this Wednesday, the highway will shorten the distance between HCMC and the Mekong Delta province, thus reducing transport costs while boosting trade between the two localities.

The construction of the new Nam Dinh – Phu Ly road started on January 29 in Nam Dinh city with the Tasco Joint Stock Company as its investor.

The road, 25 kilometres in length, has a total investment capital of nearly VND 3 trillion.

According to the investor’s commitment, the road will have been put into operation by 2014, making a contribution to avoiding traffic jams and minimising traffic accidents and creating opportunities for investment attraction and socio-economic development in Nam Dinh and Ha Nam provinces and their surrounding provinces in the southern area of the Red River Delta.

The Thu Thiem Bridge over Sai Gon River in Ho Chi Minh City opened fully to traffic on Sunday, January 31, after the second phase of its construction was completed.

The bridge, built at a cost of VND1.45 trillion (US$78.5 million), will be a significant contributor to the city’s expansion to the east, officials said.

Work on the bridge started in April 2005 and its first phase was completed two years ago.

The 1.25 kilometer long, six-lane bridge links District 2 with Binh Thanh district on either banks of the river. It also creates a connection between the Thu Thiem New Urban Area and downtown Ho Chi Minh City.

Speaking at the inaugural ceremony, standing deputy chairman of the city People’s Committee, Nguyen Thanh Tai, said: “The bridge will help the city restructure its population and shift its socio-economic development to the east, making the Thu Thiem New Urban Area a regional trade and financial hub in the near future.”

Also present at the event were city Party leader Le Thanh Hai, city People’s Committee chairman Le Hoang Quan, and officials from the ministries of Transport and Construction.

The same day also saw work begin on three major routes at the Thu Thiem New Urban Area. The ground breaking ceremonies for these projects were held in the presence of representatives from municipal administration, the city’s Transport Department, the Management Board of the Thu Thiem New Urban Area, District 2 authorities, and the Vietnam Infrastructure Development and Financial Investment Corporation.

One of these routes is a beltway, which is 3.6 km long and 55 m wide and has six lanes for cars, two lanes for motorcycles and two sidewalks. It connects the heart of the new urban area with the residential area in the north and to Luong Dinh Cua Street.

The second route is a road that is 2.8 km long and 28.1 m wide, linking the area with the Hanoi Highway, and the third is a road that will run alongside the Saigon River.

The project comprising the three routes is estimated to cost about VND6.73 trillion ($363 million) and scheduled for completion in 48 months.

Upon completion, the three routes and the East-West Highway will basically meet traffic needs of the new urban area, officials said.

Hau Giang, which borders Can Tho city toward to the northern is a center of arriving force to attract human resources of Mekong Delta. In the south, it borders Soc Trang province. In the east, it borders Hau River. There are many big potentials about supplying fresh water, shipping, and Vinh Long province, the main waterway to International Port Cai Cui, Can Tho. In the west, it borders Kien Giang and Ba Lieu province.

Geographical position of Hau Giang is determined a small center in the west of Hau River, a gateway at the north of Ca Mau Peninsula. It is very advantageous to develop industry. After it had been established, many leaders of central come to visit, survey and affirm role, economic position of Hau Giang, a new province, for Mekong Delta.

In addition, Hau Giang is also planned a development strategy in the future in order to improve economic of the land of the west Hau River.

Hau River industrial urban section in Chau Thanh district:

With the area of 3,200 ha, Chau Thanh, which is one community to be projected, consist of industrial building land, urban building land, sporting ground land, business service land, tourism, villa area, park land…

It lines along Hau River and national road in the south of Hau River to go to Soc Trang, Bac Lieu, Ca Mau; it borders Cai Cui international port, Can Tho City, is far from 5 km Can Tho bridge, from 15km Can Tho airport in the south-east. The area of industrial land which is 1,900 ha, consists of one industrial zone and four industrial areas.

Hau River gathering Industrial zone: The area in the first stage is 291 ha; it lies along Hau River and National Road in the south of Hau River go to Soc Trang, Bac Lieu, Ca Mau. It borders Cai Cui international port, Can Tho City, is far from 5 km Can Tho bridge, from 15km Can Tho airport in the south-east.

This is a generally industrial section with many fields to attract investors such as mechanics, making and amending ships, cement production, material construction, informatics, electronics, telecommunication, garment textile, aquatic products, agriculture products, plastic, wood and light industry another one…

Situation of developing and implementing: the general and detailed plan, some projects approved, deployed and will call investors on infrastructure building. Now, some big projects in the domestic and oversea are started and prepare to start.

Nowadays, Hau Giang needs building “worker house project”, Hau River industrial zone, stage III with the area of 4 ha.

Dong Phu gather Industrial zone: The area in the first stage is 229 ha; it lines along Hau River and national road in the south of Hau River go to Soc Trang, Bac Lieu, Ca Mau, it borders Cai Cui international port, Can Tho City, is far from 5 km Can Tho bridge, from 15km Can Tho airport in the south-east.

This is a generally industrial section with many fields to attract investors such as mechanics, aquatic products, farm products, cattle and poultry food and other light industrial fields.

Situation of deploying and implementing: the general and detailed plan, some projects approved, deployed and will call investors on infrastructure building. Now, some big projects in the domestic and oversea are started and prepare to start.

Chau Thanh A industrial sectors and zones:

Tan Phu Thanh gather industrial section – The common area planned is 201 ha; it lies Ba Lang river and national road 1A, it borders Can Tho City, is far from 10 km in the south, from 5 km Can Tho bridge, from 20 km Can Tho airport in the south-east.

This is a generally industrial section with many fields to attract investors such as industrial mechanics, making and amending ships, cement production, informatics, electronics, industrial production for agriculture-forestry-fishery, garment, sea products, automobile and assembling, house and other light industrial sectors…

Deploying and implementing: the general and detailed plan, some projects approved, deployed and will call investors on infrastructure building. Now, some big projects in the domestic and oversea are started and prepare to start. Because of unperfect infrastructure, Hau Giang is calling to invest infrastructure at this gathering industrial zone.

The industry and handicraft sections of Vi Thanh town:

With the area of 53 ha, Vi Thanh will be enlarged. It lies along Xa No canal and National road 61, the main waterway to Ho Chi Minh City and Ca Mau province.

Fields which area prior to attract investors such as agricultural products, sea products (frozen food, canned food, dried food, concentrated food, processing of rice for exporting…), processing cattle food, chickenfeed, food production for husbandry, family facilities, traditional products by modern technology, agricultural mechanics and light industry another one…

Deploying and implementing: the general and detailed plan, some projects approved, deployed and will call investors in infrastructure building. Now, some big projects in the domestic and oversea are started and prepare to start.

Vi Thanh town:

Vi Thanh town is administrative reform, economy, culture, technological science center and it is a traffic key of Hau Giang province, the west Hau River, the northern of Ca Mau Peninsula.

Economic structure of Vi Thanh town is developing quickly in the direction of industry – service – agriculture.

Vi Thanh town prepared a project with large capital investment demand to call for investment, upgrade economy – society infrastructure and Vi Thanh will become the city graded III.

Nga Bay town:

Nga Bay town is industrial clue for processing agricultural product, goods traffic, business service, tourism of the south-east Hau River and next area along National road 1A.

Economic structure of Nga Bay town is developing quickly in the direction of industry – service – agriculture.

Nga Bay town prepared a project with large capital investment demand to call investment, upgrade economy – society infrastructure and Nga Bay will become the city grade IV.

Beside there are many towns, urbans such as Long My district, Vi Thuy, Mot Ngan, Nga Sau, Cay Duong, other towns are planned to call for investment.

The rural construction:

Hastening to build upgrade centre cities, towns, social economic sectors rural social economic infrastructure system.

Hau Giang encourages economic components to invest rural traffic network, electricity and water supply system, telecommunication, environment sanitation, education, public health care, relaxing sections, sporting sections, creating many training courses suitable with the special characteristics of rural laborers.

Genoa, Italy, this year will seek investment opportunities and strengthen trade exchanges with Vietnam through improved information channels, implement joint economic, cultural and educational projects, and join activities in celebration of the 1,000th anniversary of Thang Long – Hanoi.

Genoa City leaders made the announcement at a recent meeting with Vietnamese Ambassador to Italy Dang Khanh Thoai. They added that Italian businesses want to invest in Vietnam. However, their current investment in this potential market is still modest because they lack information.

As a developed industrial city with a big seaport, Genoa is ready to step up co-operation with Vietnam in shipbuilding, sea transport, vocational training and import and export activities.

Ambassador Thoai invited Genoa to take part in the celebrations of the 1,000th anniversary of Thang Long-Hanoi, both in Vietnam and Italy. Accordingly, a committee called “Genova City celebrates the 1,000th anniversary of Thang Long-Hanoi” has been set up to organise events such as exhibitions and music performances.

Loans will be sought from the World Bank and the Japan International Cooperation Agency (JICA) for building an expressway linking Danang City with Quang Ngai Province at a cost of nearly US$2.5 billion.

Preparations are being pushed up so that work can start later this year on the project, which once in place will become part of the north-south expressway.

Under a notice the Government Office released last week, Deputy Prime Minister Hoang Trung Hai had agreed with the funding plan using loans from the World Bank and JICA. The amount will then be re-lent to the state-owned Vietnam Expressway Corporation to develop the 130-km long expressway running through Danang City, Quang Nam and Quang Ngai provinces.

JICA is expected to finance the section from Danang to Tam Ky in Quang Nam Province stretching 65 kilometers, while the World Bank would fund for building 66 kilometers from Tam Ky to Quang Ngai. Counter capital from Vietnam will be used for project management, land clearance and resettlement costs.

According to the transport ministry, the Danang-Quang Ngai road requires a huge fund of US$2.48 billion, including US$1.5 billion for building the first phase of the project.

The feasibility study of the project has been finished by experts of Japan External Trade Organization, or Jetro, since 2007. However, the World Bank has asked for updating the study and the Project Management Unit 85, in charge of managing the investment project, has named Japan’s Nippon Koei as the consultant.

The management unit is expected to organize a bidding round to select contractors for the project in the early months this year. If everything goes smoothly, work will start the road late this year for the first-phase completion after three years.

The road has been designed for four lanes in the first phase, allowing for a maximum vehicular speed of 100 kilometers per hour. In the second phase, the road will be expanded into six lanes.

The road will create a strong communication route between economic zones in the central area and facilitate the development of new urban townships, industrial parks and tourism facilities.

Deputy PM Hai also asked the Ministry of Transport to join forces with two ministries of planning-investment and finance to devise solutions for ensuring the viability of the project as well as meeting requirements of the international lenders.

Besides the Danang-Quang Ngai, the transport ministry is also seeking the World Bank loans for the Ninh Binh-Thanh Hoa expressway.

Vietnam is pursuing an ambitious plan to develop an expressway across the country with 16 sections stretching a total length of over 1,800km, or some 74km shorter than National Highway 1A as the country’s current backbone.

The country will need a hefty budget of VND312.8 trillion (US$18.4 billion) for the north-south expressway project.

Cau Gie-Ninh Binh in the north is now the first expressway allowing vehicles to travel at over 100 kilometers per hour, while the HCMC-Trung Luong expressway is to be opened to traffic on February 3.

Spanish airport builder Garuda Group is expected to pump some US$15 billion into the construction of three world class airports in Vietnam, according to the Vietnam news agency’s report.

Following an agreement signed in Ho Chi Minh City on Wednesday, the airports are the International HCM City-Long Thanh Airport, costing US$6 billion, the new Ha Noi International Airport (US$8 billion), and the Chu Lai International Airport in central Vietnam with an investment capital of more than US$1 billion.

The investments will make Garuda the biggest foreign investor in the country so far, the Vietnam news agency said. Garuda group is an airport/seaport builder, manager and consulting company.

Long Thanh airport will be about 43km from the hub of Ho Chi Minh City, is expected to generate 5,500 permanent jobs for Vietnamese workers after construction.

Chairman of the Aviation South East Asia Giuliano Koenigsberg said the company would carry out the feasibility study and map out a master plan for Long Thanh project jointly with Viet Nam’s Southern Aviation Corporation.

Last month, the Garuda Group also reached an memorandum of understanding (MoU) with the Airport Design Construction Consultancy to set up a joint venture to build the new Ha Noi International Airport, its biggest project in Vietnam.

“It will be the largest and the most modern airport in Asia. It will be designed by multi-national companies from Spain and Italy to reflect (Vietnamese) culture and aspirations,” Koenigsberg said.

The foreign partners include Spanish Galo Architects and Italian AIG. The airport would have two heliports, a hospital, school, apartments and hotels.

After completion it is expected to generate 10,000 permanent jobs.

“The Government will grant Garuda management and operation rights for 30 years, to be extended by 10 years under certain circumstances, to cover the cost of project execution and to repay principle debts,” the news agency cited Koenigsberg sa saying.

Construction of the Ha Noi airport was expected to be carried out in three stages, the first from next year run until 2015 at a cost of US$4 billion, the second from 2015-18 would cost US$1.5 billion and the last phase would cost US$2.5 billion.

Phase one would accommodate 480 flights a day and 35 million passengers a year. Capacity would grow to about 850 flights daily and 62 million passengers annually by 2025 and to 1,096 flights daily and 80 million passengers annually by 2035.

“The new airport is due to replace the overloaded Noi Bai International Airport, which will likely be relegated to domestic flights only,” Koenigsberg said, adding that Noi Bai has reached its capacity at over 15 million passengers annually.

Last month, Garuda Group also agreed with the Middle Airport Corporation to establish a joint venture to build Chu Lai International Airport in the central province of Quang Nam. It was expected that Chu Lai would be larger than neighbouring Da Nang Airport.

“Spanish enterprises are ready to come here and we see potential in trade and investment between Spain and Vietnam,” he said.

Chu Lai had an annual capacity of 2.25 million passengers and 1.5 million tonnes of cargo by 2015 and 4.1 million passengers and 5 million tonnes of cargo by 2025.

Koenigsberg said Chu Lai was chosen because it was an important gate to central Viet Nam and was near Dung Quat and Chu Lai economic zones, Hoi An and the seaports of Ky Ha and Lien Chieu.

The group set up an office in Hanoi last year, providing consulting, investment and construction services for infrastructure projects, market surveys, trade and others.

The office will promote co-operative projects between Spain and Viet Nam. It also intends to set up an office in HCM City.

(BERNAMA)

Vietnam plans to spend VND28.13 trillion ($1.52 billion) on building a 3,041-kilometer long road along the country’s coastline, the government said in a statement Thursday.

The road is being built with an aim to effectively use the country’s resources, boost socioeconomic development and enhance national defense, it said.

The government will spend VND16 trillion on the construction of the road from now to 2020, and the rest after that, it said.

Vietnam has a coastline of 3,260 kilometers.

With huge potential development, Binh Dinh is proving its role in pushing economic development in the central region. According to the Binh Dinh People’s Committee, the province’s economic growth in 2009 reached 7.96 per cent.

Of which, the agriculture, forestry and fishery sector grew 7.3 per cent, the industrial and construction sector grew 7.43 per cent and the service sector grew 11 per cent.

“Binh Dinh kept high growth last year amidst the economic difficulties in the country. This implies that our province is emerging as an economic hub in the central region,” said Le Huu Loc, vice chairman of the Binh Dinh People’s Committee.

Binh Dinh is 300 kilometres south of Danang and 600km north of Ho Chi Minh City. The province is said to have huge potential to be a driving force for economic development in the overal central region. According to the annual Provincial Competitiveness Index conducted by the Vietnam Chamber of Commerce and Industry and the United States Agency for International Development, which reflects the quality of provincial investments and their business climate, Binh Dinh was ranked 11th in 63 provinces nationwide in 2008 and it jumped to the 7th position in 2009.

Binh Dinh’s Quy Nhon seaport is one among the busiest ports in Vietnam. Last year, the port was reported to handle about 4 million tonnes of cargo, much higher than Danang port—the existing largest port in the central region. Due to its favourable geographic position, Binh Dinh is on the radar of many domestic and foreign investors.

“With its advantageous geographical position and bright economic oultlook, Binh Dinh is a good place to make investments,” said Nguyen Thanh, director of the An Phu Thinh Joint Stock Company. Thanh’s company is now developing a large commercial centre in Binh Dinh. Furthermore, his company plans to build a multi-million dollar residential and tourism project in the province.

According to the Binh Dinh Planning and Investment Department, the province has so far received 33 foreign invested projects with total registered capital of about $420 million. The projects’ investors are from the United States, Japan, China, Korea, the United Kingdom, Singapore, Malaysia, Germany, Thailand and Australia.

The Hong Kong-based Hong Yeung Company is also developing a $30 million industrial park in Binh Dinh’s Nhon Hoi Economic Zone. So far—although the park is still under construction—four foreign investors have registered to build their factories inside the park, with total investment capital of about $100 million.

Wood processing is an attractive industry in Binh Dinh. The province has 400,000 hectares of forests that can provide materials for wood processing plants. So far, more than 110 enterprises have invested into this industry in Binh Dinh and they can export about 22,000 containers of wood furniture on average each year.

Binh Dinh government announced that it would continue encouraging investors to invest in wood processing industry over the next few years. Loc said that the province was also expanding public investments in infrastructure projects to improve its investment climate.

“Although we have been actively improving the infrastructure network and business climate in Binh Dinh, the quality of licenced projects are still below our expectations and the development of some investment projects remain at slow pace,” Loc said. According to the Binh Dinh Planning and Investment Department, some domestic and foreign investors were delaying construction of their projects due to the impacts of the economic slowdown.

Binh Dinh authorities recently revoked investment certificates of the Gemadept Corporation, which had registered to build Nhon Hoi seaport. “In the future we will be very careful in selecting investors for developing projects in Binh Dinh,” Loc said.