146-million-USD loan for Polypropylene project; Vietnam, Egypt enhance agro-forestry, fisheries cooperation; Hanoi to host Vietnam-RoK economic forum
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The project, which has a total investment of 234 million USD, is being launched next to the Dung Quat oil refinery in central Quang Ngai province to utilise propylene gas supply from the refinery.
The workshop will undergo a trial run by February 2010 and the contractor, EPC, will hand it over to PetroVietnam by June 2010.
The Dung Quat oil refinery which is a key national project has an investment of more than three billion USD and a processing capacity of 6.5 million tonnes of crude oil per year.
Vietnam, Egypt enhance agro-forestry, fisheries cooperation
Almost 100 Vietnamese and Egyptian businesses attended a seminar on boosting agro-forestry and fisheries cooperation between Vietnam and Egypt in Cairo on Oct. 15.
Deputy Minister of Agriculture and Rural Development Diep Kinh Tan said that although Vietnam ’s agro-forestry and fisheries products have made a presence in northern Africa , their market share remains small and fails to meet both countries’ potentials and demand.
With a population of more than 80 million, Egypt is a potential market and a gateway for Vietnam ’s products to enter the Middle East and Africa markets, the deputy minister stressed.
Since penetrating the Egyptian market in 2005, Vietnam ’s seafood exports recorded dramatic increases from 4.4 million USD in 2006 to 20.4 million USD in 2007. The value rose to 33 million USD by August 2009. However, the value of rubber, tea, cashew nuts and other farm products exports remained low.
Earlier, on the morning of Oct. 15, the Vietnamese delegation held a working session with the Egyptian General Department of Fisheries to discuss cooperation possibilities.
Deputy Minister Tan took the occasion to invite his Egyptian counterpart to visit Vietnam to explore its fisheries sector’s quality and technology management.
The Egyptian side asked Vietnam to assist it in training and scientific research, and invest in processing in Egypt.
Hanoi to host Vietnam-RoK economic forum
Around 350 delegates will attend a Vietnam-RoK economic development forum scheduled to take place in Hanoi on Oct. 21-22.
Deputy Director of the Ministry of Planning and Investment’s Strategy Development Institute Nguyen Ba An told the press on Oct. 15 that the forum will focus on the situation of bilateral economic ties and new orientations for development cooperation. Vietnam will present its socio-economic development strategy at the event while experts from the Republic of Korea (RoK) will share development experiences.
Six smaller forums will be held for in-depth discussions on financial policy, the POSCO, broadcasting-telecoms, land development, intellectual property and vocational training development.
Deputy Director of the RoK Trade, Investment and Development Agency in Vietnam Kwon Kyoung Doug said that the forum will be made an annual event where the two countries’ leading experts share ideas and experiences on economic development.
Vietnam up 4 places in financial development ranking
Vietnam has moved four steps up to stay at 45 th in the 2009 Financial Development Index ranking by the World Economic Forum (WEF) with 3.00 points out of a maximum 7.
Among the Southeast Asian countries, Vietnam was behind Singapore which took the 4 th position, Malaysia , 22 nd and Thailand , 35 th in the index. Indonesia was ranked 48 th and the Philippines 50 th in the ranking.
The WEF’s analysis of financial systems and capital markets in 55 countries worldwide is based on over 120 variables spanning financial stability and size of capital markets.
Most of the listed countries saw their financial development indexes slide this year, yet emerging economies are evaluated by the WEF to weather the recent financial storm better than developed countries.
Developed economies including Norway , Switzerland , Hong Kong and Chile retain top positions in the ranking. Emerging economies in Latin America such as Mexico and Brazil rose up to the 14 th and 15 th position, outstripping the US which plunged to the 37th from the top position last year.
Quang Trung software park joins regional alliance
Quang Trung Software Park in Ho Chi Minh City has officially joined the Asia Oceania Regional Software Park Alliance at the recent Asia Oceania Regional Software Park Forum 2009 in Thailand.
The Sai Gon Giai Phong (liberated Sai Gon) daily quoted Chu Tien Dung, Director of the Quang Trung Software Park Development Company, as saying that the alliance membership will open up market opportunities for the park’s member businesses.
Founded in 2001, Quang Trung Software Park is one of key projects in Ho Chi Minh City development plan. It has been growing quickly to become the biggest software park in Vietnam .
With the total area of 430,000 sqm, the park not only is home to businesses involving in software production but also offers exhibition centre, accommodation and entertainment services. With pre-eminent infrastructure facilities, competitive office and internet rental costs, it is a wonderful place for working, studying and living for 20,000 people in 2010.
The park has got strong support from both municipal and state government, including many incentives to promote the IT industry from the government.
It also supports IT companies and investors who want to do business in Ho Chi Minh City and Vietnam as a whole.
VietNamNet/VNA
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