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BUSINESS IN BRIEF 24/12   2008-12-24 - VNA

Cement producers urged to seek export outlets

The Ministry of Construction has asked cement producers nationwide to seek export markets as their combined output is forecast to be sufficient for the local demand in 2009 and even 5-7 million tonnes higher than the demand in the following years.

In another move, the ministry worked out a number of measures to stimulate the consumption of the product in the domestic market, including building and upgrading roads, especially expressways, and stepping up production of unbaked construction materials.

It is estimated that the country’s total cement output will reach between 45-46 million tonnes next year when 18 new plants, with a combined capacity of almost 20.5 million tonnes, become operational.

The year 2009 is expected to mark the first time that local cement producers ensure a sufficient supply for the domestic needs, bringing an end to the supply-demand imbalance.

However, the Ministry of Construction has warned of a possible cement shortage in some southern areas as most of the plants are located in the north while the demand is usually higher in the south.

Statistics collected over the past five years indicate the southern localities have consumed 38-40 percent of the nation’s total cement output.

To deal with this issue, the ministry requested northern cement plants to map out plans to supply clinker for southern companies in order to limit the import of the material from regional countries. It also encouraged the supply of cement to the southern market to help stabilise prices.

In addition, the ministry proposed the government adjust electricity and coal prices for the cement industry and permit it to set up a fund to support export activities while seeking new markets.

Bao Minh Securities joins southern bourse

The Ho Chi Minh Stock Exchange (HOSE) on December 24 officially recognised the Bao Minh Securities Joint Stock Company (BMI) as its 91 st member.

With a 300 billion VND charter capital, the Hanoi-based company provides in a wide range of services, including brokerage, consultancy, securities issuance underwriting and securities custody.

The company officially implemented its online service to help investors open their accounts and check their account balances.

City launches first hi-tech park in Thu Thiem

The construction of Vietnam-Japan Intellectual Park in Ho Chi Minh City ’s new urban area Thu Thiem began on Dec 23 with a ground-breaking ceremony for the 18-storey Park Gate Building.

The park, planned to cover an area of 440,000 sq.m and estimated to cost 610 million USD, will house various industries, including production of software and chips, human source training, promotion of trade and investment in high technology, and house and office leasing.

The project is expected to attract 4-5 large foreign hi-tech firms by 2017 with a workforce of 3,500 engineers and programmers and another 10,000 workers.

In addition to capital attraction and technology transfer, the project is to focus on the training of high skilled workers for supply to the Japanese market.

At the ceremony, in the presence of Deputy Prime Minister Hoang Trung Hai, representatives from the Vietnam-Japan Powersource Corp. (VIJA), the Quang Trung Software Park and the local authorities signed an agreement on the provision of telecommunication infrastructure, and transfer of experiences in IT and cooperation in Japanese language training.

On the same occasion, the VIJA handed a donation of 200 million VND to the pro-poor fund of the city’s District 2.

Singaporean firm to build business park in Binh Duong

Southern Binh Duong province on Dec. 23 granted an investment license to Mapletree Investments Pte Ltd, a Singapore ’s real estate corp., to build a 400 million USD integrated business park at the provincial Industrial Commercial Urban Complex.

A member from Mapletree’s Broad of Directors, Mr. Pauk Ma said the 50-year project will take up 75 ha of land, being carried out in phases. The construction will start in June 2009 and the park will be put into operation in the first six months of 2010.

The same day, provincial People’s Committee chairman Nguyen Hoang Son gave another license for Mapletree to build its second logistics facility in the Vietnam – Singapore industrial park 2 (VSIP2). The 110 million USD project will be built on 68 ha of land, with 420,000 square metres of modern warehousing space designed for modern logistics operations.

Chairman Son promised that the province will create the most favourable conditions for Mapletree to implement the projects smoothly.

180 trillion VND for power equipment production

The Ministry of Industry and Trade has approved a master plan to invest a total pf 180 trillion VND to develop the production of electric equipment in the 2006-2015 period.

Under the plan, 43 trillion VND will be used for the 2006-2010 period and the rest will be for the sector’s development between 2011-2015.

According to the ministry, the sector targeted an annual average growth rate of 19-20 percent in production value by 2010 and 17-18 percent between 2011-2015.

The sector is expected to meet 60 percent of local demand for electric wires and transformer stations by 2010 and 70 percent by 2015.

It also plans to meet 55 percent of local demand for electric motors and common electric generators by 2015.

To facilitate the sector development, the Ministry of Industry and Trade has applied some incentives, including those on tariff, investment and market expansion consultancy and investment promotion.

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