Oil giant courts Talisman

Wed, 04/20/2005 - 15:58

The state oil and gas firm PetroVietnam expects to sign a contract this month with Talisman, Canada’s largest independent oil and gas company, to explore oil and gas in block 15-2/01 in Cuu Long basin, off the southern coast of Vietnam.

In his report to Prime Minister Phan Van Khai last week, PetroVietnam’s president Tran Ngoc Canh said the deal would most likely be signed by the end of this month.

Four months ago, the prime minister approved the bidding results, which allowed PetroVietnam to go ahead with negotiations with Talisman.

Life insurance firm reports first profits

Wed, 04/20/2005 - 15:50

HA NOI — Prudential Viet Nam yesterday announced its first yearly profit of VND61 billion (US$3.9 million) gained last year after five years operating in Viet Nam’s life insurance market.

The Ministry of Finance statistics reported the company last year earned a turnover of VND3.1 trillion ($197.5 million), representing more than 41 per cent of the country’s total life insurance market share.

Women entrepreneurs gather

HA NOI — Businesswomen of Viet Nam and the US kicked off the first meeting yesterday in Ha Noi to seek partnership for trade and investment opportunities.

One-hundred and fifty businesswomen, 17 from the US, joined the Viet Nam-US Women Entrepreneurs Conference, which was hosted by the Viet Nam Chamber of Commerce and Industry (VCCI)’s Vietnamese Women Entrepreneurs Council (VWEC) and the US’s Committee of 200 (C200).

First Vietnamese PM to visit U.S. after Vietnam War

Prime Minister Phan Van Khai will make a historic visit to the U.S. soon, the first by a Vietnamese leader in 30 years, to mark 10 years since the two countries resumed diplomatic ties, a diplomat confirmed recently.

Speaking in an interview with Thanh Nien, Deputy Foreign Minister Le Van Bang said he had just returned from a two-week trip to the U.S. in preparation for PM Khai’s visit.

The diplomat hinted that the visit would perhaps take place in two or three months.

UN should end Security Council veto power

Tue, 04/12/2005 - 23:20

NEW YORK — Vietnamese representative to the United Nations, Nguyen Duy Chien, has called for limiting and eventually abolishing the veto power of the Security Council of United Nations as part of reforming the organisation.

Vietnam, Japan to proceed with currency swap talks

Tue, 04/12/2005 - 23:17

Vietnamese Finance Minister Nguyen Sinh Hung and his Japanese counterpart Hirosi Watanabe.
Vietnam and Japan will speed up negotiations for a bilateral currency swap agreement worth some 1 billion USD to stabilize Vietnam’s currency market, said the finance ministers of both countries.
Vietnamese Finance Minister Nguyen Sinh Hung and his Japanese counterpart Hirosi Watanabe reached an agreement about the issue at a meeting on the sidelines of the 9th Conference of Finance Ministers of Association of Southeast Asian Nations (AFMN). The conference opened in Laos on April 6.

Vietnam launches largest power complex

Tue, 04/12/2005 - 23:13

Five electricity plants were officially opened in Vietnam’s largest power center in southern Ba Ria-Vung Tau province April 10, helping the country meet growing demands for power.
The five plants, which have combined capacity of 2,258 MW, were built by the country’s biggest power firm, Electricity of Vietnam (EVN), in the Phu My Power Center.

Vietnamese Prime Minister Phan Van Khai was present at the inauguration ceremony of the facilities, which are expected to supply more than 23 billion KWh a year and consume more than 4.1 billion cubic meters of natural gas, EVN said.

Vietnam’s new enterprise bill excludes state-owned firms

Mon, 04/11/2005 - 14:57

Vietnam’s state-owned businesses need to be transformed to fall within the scope of the new Enterprise Bill, said experts at a Monday seminar in Ho Chi Minh City.
The new bill will only be applicable to four types of businesses: liability limited companies, joint-stock firms, partnerships and private enterprises, said Nguyen Dinh Cung, secretary of the bill’s drafting committee.

The seminar, hosted by the drafting committee in HCMC, was held to gather the suggestions from residents on the bill.

Electronic exports set to hit US$1.5 bln in 2005

Mon, 04/11/2005 - 14:52

With electronic exports expected to reach 1.5 billion USD in 2005, nearly 15 per cent higher than last year’s figure, Vietnam’s electronics producers are also combining efforts to further boost exports.
The Vietnam Electronics Industry Association (VEIA) said it had invested about 3 billion VND (around 200,000 USD) to promote trade and organize international electronic trade fairs and exhibitions with an aim of beating the expected forecast.

Vietnam imports expected to hit US$9 bln in Q2

Mon, 04/11/2005 - 14:51

Vietnam’s import value is forecasted to reach 9.1 billion USD in the second quarter of this year, roughly 14.8 per cent higher than last year’s same period, the Ministry of Trade said April 11.
Of the total, import goods by fully domestic-invested companies will be around 5.9 billion USD, the ministry said.

In the second quarter, the country will continue to trade in machines, equipments and production materials, the ministry said.

Pages