Piaggio group expands production in
The International Finance Corporation (IFC) has provided a 45 million EUR loan to help the Italy-based Piaggio Group to expand its production in
With the funding, Piaggio -- one of the world’s leading manufacturers of scooters and motorbikes -- is planning to raise the capacity of the plant in the Vietnamese
The two projects are expected to create more jobs for at least 480 workers in
Last year, the group’s subsidiary in
PetroVietnam offers efficient bio gasoline E5
Bio petrol, an environmentally friendly product, will be sold in five cities across the country, including
In an announcement made on July 29 in
The group said it would then open three more stations in
Bio petrol is a mixture of 95 percent of the conventional non-lead gasoline and 5 percent of ethanol. Tests showed that bio petrol E5 has a higher octane rating than other conventional gasolines, which allows fuel economy, better engine protection and environmental protection.
The government has identified bio fuel industry as a pivotal industry to ensure energy security, reduce dependence on the fossil fuels and protect the environment.
The introduction of E5 to the market is part of the government’s master biofuel development plan until 2015 and a vision towards 2025.
PetroVietnam said the new gasoline will help better protect the environment and promote economic development in rural areas.
Singapore bank finances Nhon Trach power plant
Singapore’s United Overseas Bank (UOB) will provide a 40 million USD credit to fund the construction of the Nhon Trach 2 power plant.
A contract on the credit was signed in Ho Chi Minh City on July 29 between the UOB and the PetroVietnam Nhon Trach 2 Power Joint Stock Company – a subsidiary of the Vietnam National Oil and Gas Group (PetroVietnam).
The 750 MW power project is being built on an area of 400,000 sq.m in the Ong Keo Industrial Zone in the southern province of Dong Nai .
Estimated to cost 600 million USD, the plant is scheduled for completion in December 2011. Its power will be sold to the Electricity of Vietnam Group (EVN).
UOB Director for Vietnam and Myanmar Thng Tien Tat said the bank wants to contribute a part to Vietnam ’s development, especially to its infrastructure and energy.
UOB is committed to providing capital for projects in the country, including corporate credits, trade investment and pro-community projects, he said.
Japan okays two more ODA projects for Vietnam
Japan will sign two ODA projects worth over 1 billion USD to Vietnam this September, said the Vietnamese Ambassador to Vietnam Mitsuo Sakaba.
When talking to the Lao Dong (Labour) newspaper on July 28, Ambassador Sakaba said that the projects – the Lach Huyen deepwater port in the northern city of Hai Phong and Cai Mep-Thi Vai deepwater port in the southern coastal province of Ba Ria-Vung Tau, are expected to be completed by 2015.
Regarding Japan’s participation at the ASEAN Economics Ministers Meeting scheduled for next month in the central coastal city of Da Nang, the Japanese diplomat said that his country’s Minister of Economy, Trade and Industry Masayuki Naoshima will attend the event to promote the implementation of the free trade agreement with the Association of Southeast Asian Nations (ASEAN) and economic cooperation between Japan and the Mekong region.
The minister will also discuss cooperative ties with Vietnam on climate change, added Sakaba.
Concerning Japan’s official development assistance (ODA) to Vietnam , Sakaba said that Japan will strive to keep ODA to Vietnam at its current level but will increase the amount if Vietnam puts forward projects that are feasible.
Vietnam remains one of the countries to receive the highest amount of ODA from Japan , both in loans and non-refundable aid, said the diplomat.
On July 27 and 28, the Japanese embassy signed a non-refundable aid contract worth 285,000 USD to build two primary schools in the northern province of Ninh Binh and one primary school in the northern mountainous province of Bac Giang, he added.
Small businesses need support
Support policies for small- and medium-sized enterprises need to be updated if they are to develop, a senior Government official told a workshop in HCM City on July 28.
Nguyen Trong Hieu, deputy director of the Ministry of Planning and Investment’s Enterprise Development Department, said financial support, technology and technical skills were key to increasing their competitiveness.
"The support policies aim to increase the number of SMEs and strengthen their competitiveness so that they become global," he said.
They seek to create a favourable legal environment that will provide an equal and transparent playing field and stimulate the development of SMEs.
They also seek to encourage credit guarantee funds and banks to step up financial support to these companies.
The Vietnam Development Bank (VDB), which was set up to help implement the State’s credit policies for development and export, offers soft loans to small projects to create jobs.
The Bank for Social Policies provides loans to businesses in remote areas.
Hieu said: "In the third quarter, the ministries of Planning and Investment, and Finance will propose to the Prime Minister the establishment of the Small- and Medium-sized Enterprise Development Fund."
The finance ministry will also suggest an amendment of banks’ policies on investment and export credit to give priority to SMEs, especially those in the agro-forestry and fisheries sectors.
Hieu said: "The Ministry of Science and Technology (MoST) has petitioned the Government to draft policies to support use of new technologies and technology transfer."
It has also submitted to the Prime Minister the national technology renovation programme through 2020 which seeks to increase support for SMEs in renovating and upgrading technology and technical capacity.
National technology and science funds will support SMEs in upgrading their technologies.
MoST as well as provincial and municipal People’s Committees will provide SMEs funding to obtain ISO and other international quality certification.
Ta Viet Dung, deputy head of MoST’s Department of Technology Application and Development, said if the national technology renovation programme was approved, close links would be required between Government agencies and enterprises to implement it.
There was also a need to draft policies for technological development and import of technologies, with priority given to key sectors.
Hieu said provincial and municipal authorities would set aside land for industrial zones for SMEs in urban areas to move into.
VietNamNet/VNA
