Aluminum processing plants to be built by 2015

Seven aluminum hydroxide processing plants and a bauxite-aluminum processing complex with a total capacity of 8.4 million tonnes of alumina and 0.65 million tonnes of aluminum hydroxide per year will be built by 2015 following a Government plan to exploit and process bauxite in the Central Highlands through 2025.

Under a Prime Minister’s decision made public on November 7, these plants, which will cost between 11.8 billion USD and 15.6 billion USD, will be built.

At least 47.5 million USD would be spent on completing the geological survey, 9.9-13.7 billion USD for building exploiting and processing plants and 1.9 billion USD for building infrastructure. The company developing the project will be equitised, with the Vietnamese government responsible for management, Prime Minister said.

A dedicated port in central Binh Thuan Province that can load vessels with 50,000 tonnes will also be built to develop the industry in the Central Highlands and Southern Central regions.

Environmentally friendly technology will be used to exploit the 5.5 billion tonnes of minerals and help develop the economy in the Central Highlands provinces.

Coal-mineral group looks to larger investment in Laos

The Viet Nam National Coal-Mineral Industries Group (Vinacomin) inaugurated a representative office in Vientiane on November 7, marking an important step in its strategy to enlarge investment in Laos .

Vinacomin said that its subsidiaries have to date submitted 14 projects to Lao authorities for approval, nine of which will be involved in coal exploration and exploitation in northern and central Laos .

The group is now carrying out the second phase of a coal mining project in Savannakhet province and developing an iron ore project in Siang Khouang province, which is expected to bring out the first batches of ores in early 2008.

As one of Viet Nam ’s seven largest industrial groups, Vinacomin is planning to build coal-cement and coal-power complexes in the neighbouring country in the future.

Seafood exports to Poland surge

Viet Nam ’s seafood exports to Poland so far registered 70 million USD, a year-on-year increase of 25 percent, the Viet Nam Association of Seafood Exporters and Producers (VASEP) reported.

According to experts, seafood exports to the European country will continue to rise in the future.

Poland is said a potential market as Viet Nam ’s seafood have a competitive edge there and no technical barriers exist. However, experts suggested exporters better control of the quality of seafood products.

First HACCP standard soy sauce plant opens

Private-owned Vi Huong company in the southern province of An Giang has put into operation a soy sauce plant that meets the Hazard Analysis and Critical Control Point (HACCP) standard, the first of its kind in the country.

The plant was built at a cost of 3.4 billion VND and use the 3-MCPD safety technology of the Ho Chi Minh City University of Technology.

It plans to produce 5 million litres of soy sauce a year to supply the Mekong delta region, Ho Chi Minh City and export to Cambodia.

Construction machinery fair kicks off

More than 200 companies from 19 countries and territories will showcase their products at an international trade fair on construction machinery and building materials in Ha Noi from November 20-23.

This is the first time the Con-Build Viet Nam 2007 is held in Viet Nam . It is expected to be one of the largest events in Southeast Asia with the presence of renowned groups involving in construction, infrastructure development, financial services, investment and real estate from Italy , the Republic of Korea , German, India , France , China , Malaysia and Japan .

Highlights of the fair include a conference on infrastructure development in Viet Nam and a workshop themed “Best Quality- Safe Production – Healthy Workforce: Strategies and Services for the Concrete Industry” will be held.

At the conference, domestic and foreign experts will focus their discussions on prospects of Viet Nam ’s development, construction companies’ demands and solutions for personnel and management issues as well as investment opportunities in this field.

The Con-Build Viet Nam 2007 will be jointly organised by MMI-Asia, an affiliate of Germany ’s Munich International Trade Fair Group, the RoK International Exhibition Centre and the Viet Nam National Conference Centre.

Viet Nam, Laos boost trade and industrial cooperation

Viet Nam and Laos will strengthen bilateral trade and implement energy and mining projects in Laos .

Agreements to this effect were reached at a talk between visiting Vietnamese Minister of Industry and Trade Vu Huy Hoang and his Laos counterpart, Nam Vignaketh, in Vientiane on November 7.
Under the plans, the two sides will immediately complete a draft strategy on bilateral trade development for the 2008-2015 period so they can submit to their respective governments in December this year.

Also in December, the two countries will approve a list of goods to be given import and export tax incentives between 2008 and 2010.

The two sides will also revise other signed agreements and include border market development into the agreement on economic, cultural and technical cooperation between Viet Nam and Laos in 2008. Under the plan, they will boost goods exchanges in border areas, strengthen border market management and prevent tax fraud and trafficking.

They also decided to co-organise the Viet Nam-Lao Trade Fair 2008 in Vientiane to mark Laos ’ National Day.

Minister Hoang and Lao Minister of Energy and Mines Bosaikham Vongdara agreed the two countries will create favourable conditions for Vietnamese businesses to carry out energy and mining projects in Laos and gave the nod to the implementation of power grid projects in central and southern Laos and border areas. Large Vietnamese groups will also be encouraged to open their rep. offices and increase investment in hydropower development, oil and gas exploration and mining in Laos .

During their two-day stay in Laos , Minister Hoang and his entourage will pay a courtesy call to Lao Prime Minister Bouasone Buphavanh and work with Laos ’ Committee of Planning and Investment.

HCM City drug firm sells shares

HCM City-listed drug firm Innexpharm signed agreements on November 7 to sell stakes to two strategic partners, the Vietnam Fund Management (VFM) company and the fund Vietnam Holding (VNH).

VNH will purchase 6 percent and Viet Nam Growth Investment fund (VF 2) percent, both at undisclosed prices. The deals are part of the company’s plans to increase its chartered capital from over 92 billion VND (5.7 million USD) to 112 billion VND.

Juerg Vontobel, chairman of Vietnam Holding Asset Management which manages the 130 million USD VNH, said he placed high value on transparency which he found at Innexpharm.

Its strong growth potential is another factor leading to VNH’s move.

Most of VNH’s shareholders are Swiss institutions.

Tran Thanh Tan, general director for VFM which concluded the purchase on behalf of its Viet Nam Growth Investment fund (VF2), shared Vontobel’s view.

“The purchase is our long-term commitment to the country’s pharmaceutical industry that has an average annual growth rate of 15 percent. Innexpharm is among the country’s top drug producers,” he said. VF2 has a corpus of at almost 1.2 trillion VND (80 million USD).

Innexpharm has an average year-on-year growth rate of around 30 percent. In the first 10 months it recorded a gross profit of 54 billion VND.

Its general director, Tran Thi Dao, expects the two strategic partners to bring in more partners as well as assist in corporate governance.

The company plans to build a new factory n a joint venture with a new factory in a joint venture with a Canadian partner in Binh Duong next year

IDG buys stake in Vietstock.com

Tai Viet JSC (Vietstock) which runs the securities analysis website www.vietstock.com.vn announced it had sold an undisclosed stake to the US-based fund IDG Ventures Vietnam on Nov. 7.

Vietstock was established in 2001 and its website is one of the leaders in providing corporate and financial information including industry analysis, annual reports, and stock quotes. It also acts as a bridge between listed companies, securities firms, and investors, and distributes technical analysis software Metastock and market data for the American company Equis.

Vietstock chairman Nguyen Van Duong said: “We’re pleased to have IDG’s co-operation as Viet Nam ’s financial market is still immature and the need for reliable information is great. With IDG Ventures Vietnam becoming our strategic partner we’ll improve our database and staff.”

Rachan Reddy, IDG’s deputy general director, said the fund had invested 40 million USD in 20 companies. Through focused now on information technology-related businesses, it planned to expand into education and health care in future, he added.

The fund was set up in 2005 with a war chest of 100 million USD.

Keppel Land expands property business

Singapore ’s Keppel Land , via its affiliates, has entered two joint ventures with the local An Phu Corp to develop two residential projects in Ho Chi Minh City ’s District 9.

The two affiliate companies, Datson and Sophia Internation, will join hands with An Phu to build 200 villas on 13 ha and almost 200 apartments on 6.9 ha, respectively.

The two projects will acquire a combined investment of 213 million USD. The Singaporean partners will contribute 55 percent.

“With the Sai Gon Hi-Tech Park, where Intel’s 1 billion USD test and assembly plant is located in close proximity and slated for completion in 2009, our developments are timely and well placed to capture both expatriate and local demand for quality housing in District 9,” said Ang Wee Gee, Keppel Land ’s regional investment director.

He also announced that new investments were based on the success of Keppel Land ’s projects in Viet Nam , including the Villa Riviera along the Sai Gon River in District 2, which is in the final phase of construction. More than 100 villas have already been sold.

Last month Keppel Land announced investment in the 1,500 apartment Estella project also in District 2.

It signed two memoranda with partners in Ha Noi to develop residential areas. It also will expand investment to Dong Nai Province , participating in a 509 ha residential area.

HCM City to hold Cho Lon exhibition fair

The Cho Lon 2007 exhibition fair will be held by the Ho Chi Minh City ’s Department of Trade and the city’s Chinese Misson Committee on November 9-11 featuring nearly 300 booths from domestic and foreign enterprises.

Entitled “Integration Development-Cho Lon Food,” the fair will provide industries a forum to show off products ranging from electronics, machinery, steel and agricultural equipment to footwear, textiles and food.

Int’l organisations pledge to help agriculture sector

The International Supporting Group (ISG) for agriculture and rural development meeting in Ha Noi on November 7, heard from s everal international organisations which committed to helping Viet Nam’s agricultural sector in the future.

The French Development Agency (AFD) said it would build infrastructure for remote and isolated areas and upgrade irrigation systems. Poland will help carry out rural development programmes, and a poverty reduction programme involving water supply, environmental hygiene and forestry.

The Japan International Cooperation Agency (JICA) will work in the northwestern mountainous region, flooded central coastal region, the Central Highlands and the Mekong Delta region.

Viet Nam ’s agro-forestry production value saw an annual growth of 5.4 percent with agriculture increasing 4.4 percent.

The rate of poor households was 14.5 percent in 2001, and reduced to 8.3 percent in 2006. The average income of farmer household increased to 16 million VND in 2006 from 11 million VND in 2000.

However, outstanding issues remain such as the lack of rural infrastructure, management and planning of rural development, low farmer’ incomes, large numbers of poor households, and development gaps between urban and rural areas as well as delta and mountainous regions.

Tang Minh Loc, Deputy Head of the Cooperative Department under the Ministry of Agriculture and Rural Development, said that the reasons of those outstanding problems were the country’s low starting and small agricultural production, while natural disasters and epidemics have become more fiercely and investment for agriculture has not been made properly. In addition, State budget for agriculture and rural has been low and policies to lure investment in the field have not been attractive. 

Source: VNA