RoK company to build apartments, offices in Da Nang

The Republic of Korea (RoK)’s Kreves Development Company will inject 200 million USD into building a complex of apartment and office buildings in the central city of Da Nang.

An agreement to this effect was signed between representatives from the company and the municipal People’s Committee on August 16.

Located in a good position, the complex will be home to 1,600-apartments, a 42-storey office building, a shopping area, an international school and an entertainment centre.

Once completed, the project is expected to meet housing demand of RoK workers as well as foreigners who are working in industrial zones in Da Nang city and neighbouring areas.

Motorbikes fail emissions tests

Nearly 60 percent of motorbikes in Ha Noi don't meet emissions standards.

The figure was determined following inspections of 1,675 motorbikes in the capital city as part of a study conducted by the Ha Noi Department of Natural Resources and Environment and the Department of Housing with support from the World Bank.

The inspections also showed that only the Honda Click motorbike meets the Euro 2 standard for exhaust emissions.

At the other extreme, motorbikes in use for longer than 15 years were found to have emissions many times higher than those permitted by law.

Trinh Ngoc Giao, deputy director of the Viet Nam Registration Department (VRD) said his department was developing a plan to control motorbike and vehicle emissions in major cities.

The department would soon begin a programme of inspecting all motorbikes in Ho Chi Minh City and would issue new emissions regulations by 2010, Giao said.

Meanwhile, installing a catalytic converter into vehicles was a proven technology that could help reduce 50-80 percent of toxic emissions, according to research by the University of Technology and VRD which successfully installed converters on Honda Dream motorbikes and other models.

A VRD survey found that 96 percent of drivers would agree to install the converters on their motorbikes if they received support for the cost.

WB offers power pricing suggestions

The Electricity Regulatory Authority of Viet Nam (ERAV) and the World Bank (WB) convened a meeting on August 16 to look at a possible pricing system for the country’s power industry.

ERAV said that if the nation is to have a competitive power market by 2009, the current retail tariff system must be fine tuned, as it has failed to encourage economic efficiency, attract investors and has failed to build a concrete price mechanism for power generation and transmission costs.

The agency cited the setting of proper retail tariffs as an urgent need to create a legal framework for the development of the power sector.

At the workshop, WB consultant Pedro Antmann suggested a gradual reduction in subsidies and the establishment of platforms to ensure transparency and efficiency within the industry.

ERAV said that methods would be studied and if proven successful would be used as the basis for compiling regulations on the setting of retail tariffs.

The new regulations have been scheduled for roll out on a trial basis by 2009 with the aim of having an operation framework in place by 2010.

Vietnam’s non-timber forest products go public

 A book that features on the values of Viet Nam’s non-timber forest products (NTFPs) was released to the public in Ha Noi on August 16.

The publication consists of 1,000 pages providing information on six groups of NTFPs including 300 high economic value species that will allow government agencies to compile a NTFPs development strategy as well as build a clearer roadmap for environmental conservation.

The “Non-Timber Forest Products in Viet Nam” was compiled in large part through support and funding provided by the Netherlands.

Developing NTFPs is a prime focus for Vietnamese forestry during the 2006-2020 period. Viet Nam has set a target of 800 million USD in export from non-timber forest products.

ECVN foreign membership surges

Viet Nam’s premier online business to business website (ECVN)’s membership list has swelled thanks to the inclusion of 600 foreign-based members, or 20 percent of its 3,000 strong base.

In 2006, only 100 foreign enterprises registered with the portal that offers the opportunity for businesses to seek out their partners in a multitude of areas.

The portal is bilingual, with information provided in both Vietnamese and English, but plans to expand into Chinese and French in the near future.

ECVN will also provide new services, including human resources management and supporting information for exports and the granting of electronic certificates of origin (C/O) to businesses.

Cao Bang gets new soft iron, steel ingot plant

The Viet Nam Mineral Resources and Metallurgy JSC (MIREX) started construction of a 345 billion VND soft iron and steel ingot plant in northern mountainous Cao Bang province on August 16.

This is the first steel ingot plant in Viet Nam using anthracite coal instead of coke coal which helps lower production cost and is environmentally friendly.

The 7-ha plant will be equipped with the most advanced technology equipment made in China, Japan and Europe.

Once operational in June 2008, the plant will contribute 10 billion VND a year to the local budget.

MIREX also plans to develop similar plants in localities rich in iron ores for domestic demands.

Thai trade fair to open in Ha Noi capital

The Thai trade fair-2007 will open its doors in Ha Noi from August 22-25 before moving to Ho Chi Minh City.

The fair, the seventh of its kind in Viet Nam, will draw 109 companies from Thailand and their agencies in Viet Nam and will showcase machinery, industrial products, electronic and electric appliances, foods and drinks, fruits and vegetables, cosmetics, health products, stationeries, children’s goods, jewellery, household and kitchen utensils, fine art articles and garments and textiles.

Art troupes from Thailand will entertain exhibit goers with court music performances held to honour King Bhumibol Adulydej on the occasion of his 80 th Birth Anniversary.

(Source: VNA)