Italian investors keen on Vietnam’s infrastructure

Italian enterprises are interested in infrastructure investment in form
of public-private partnership (PPP) model in Vietnam , especially
in developing highways.

At a workshop on developing infrastructure in Vietnam held on Oct. 4
in Hanoi , Italian Ambassador to Vietnam Andrea Perguni said the PPP
model has been successfully applied in his country and the embassy has
introduced several projects in Vietnam to Italian enterprises.

According to Counsellor Marco Saladini of the Italian Trade
Commission, Italy is experienced in building infrastructure
facilities as the country has 5,000 km of highways mostly built in the
form of PPP.

Italian investors are interested in
building underground car parks, highway and power projects in Vietnam,
he said at the workshop, which was jointly organised by the Ministries
of Planning and Investment and Transport, and the Italian Trade
Commission.

However, he expressed concerns about
shortcomings in the current tender process in Vietnam , saying most
major Vietnamese enterprises still enjoy State support in infrastructure
development.

Statistics released by the Asian Development
Bank (ADB) showed that the capital flow into infrastructure development
in Vietnam between 2006-2010 was estimated at 140 billion USD, a
modest amount compared to the real needs of transport, energy and
environment projects. Therefore, there are many investment chances for
investors in the PPP form.

The country will need
to build 3,000-5,000 km of highways, 300-400 km of metro lines in the
next 10 years, requiring hundreds of billions of USD.

However, the State budget, government bonds and ODA will be able to
meet only half of the demand, therefore, it is necessary to attract
private-sector and FDI capital, according to ADB.

Deputy
Minister of Planning and Investment Dang Huy Dong said Vietnam gives
top priority to infrastructure investment and is implementing pilot PPP
investment to attract capital from the private sector.

A representative from the Transport Ministry said that several
transport projects, including the upgrading of National Highway No. 1,
Ha Noi-Lao Cai railway and Phnom Penh-Ho Chi Minh City
highway are being implemented by using FDI and PPP capital.

Vietnam is calling for PPP and FDI capital in such highway
projects as Da Nang-Quang Ngai, My Thuan-Can Tho, Noi Bai-Ha Long, Dau
Giay-Da Lat and Ben Luc-Long Thanh, and other transport projects,
including Hai Phong international port and HCM City-Can Tho express
railway./.

Related Articles

• Assoc insists on power price hike despite protests
• Market moves up sharply
• IFC: Vietnam needs to increase PPP to support economy
• New decree hopes to protect holders of convertible bonds
• HCM City to ensure sustainable development

Vietnam - one of UK’s important partners

Vietnam is one of the UK’s prioritised partners and now is an important
time to develop the two countries’ strategic partnership.

At a seminar to promote cooperation between Vietnam and the UK, held in
Hanoi on September 10, the UK’s Deputy Ambassador in Vietnam, Kate
Harrison, said that the joint agreement on establishing a strategic
partnership signed on September 8 would create the ideal conditions for
the two nations to lift bilateral ties.

Harrison
also praised the positive changes underway in trade and investment
environment between Vietnam and the UK, as the business community is
cooperating in important fields such as telecommunications, energy, real
estate and information technology.

It is one of the best ways to promote two-way trade as well as the frequency of investment and trade, said Harrison.

According to the chairman of the Vietnam-UK Friendship Association,
Hoang Van Dung, ties between Vietnam and the UK are increasingly
thriving in many areas. Since 1990, the value of trade between the two
countries has increased rapidly, with Vietnamese exports to the UK
rising by 17 percent per year.

In investment, since
2009, the UK has started up 120 projects in Vietnam with a total
registered capital of 1.44 billion USD. In the first eight months of
this year, with 10 projects in Vietnam worth 53.4 million USD, the UK
ranks 15 th out of the 47 countries and territories that invest in
Vietnam.

Some companies are performing exceptionally
well in Vietnam such as Rolls-Royce, Vodafone, HSBC and the Prudential
insurance company.

In addition to investment and
trade, education is also a field in which both countries cooperate well.
At present, almost 6,000 Vietnamese students are studying at colleges
or universities in the UK./.

Related Articles

• UK, Vietnam clinch strategic partnership
• IFC: Vietnam needs to increase PPP to support economy
• Vietnam, China highlight vital role of culture
• Vietnam Air accepts web check-in for int’l flights
• Hanoi ready for millennium anniversary in October

Hong Kong fund supports VN healthcare projects

Hong Kong’s Sun Wah Fund (SWF) has pledged to donate one million USD for healthcare, education and art projects in Vietnam.

A signing ceremony for the projects was held in Hanoi on August 23.
Signatories were the SWF, the Ministry of Health and Hanoi University.

Of the sum, 700,000 USD will be allocated for
healthcare projects, especially community healthcare, and the remaining
300,000 USD will be used for education and art projects which aim to
improve foreign language skills for teachers in remote areas, grant
scholarships to Vietnamese students in China, build primary schools in
mountainous areas and hold training courses for disabled children.

Dr Jonathan Choi, General Director of the SWF said this was the second
time that the fund has supported social projects in Vietnam, expressing
his pleasure that the funding brings effective outcomes for society.

Established in 1957, SWF has over 100 member companies
in Hong Kong, Macao, Southeast Asia, Canada, Europe, the US and
Australia, focusing on food, real estate, financial services,
infrastructure, technology and media./.

Related Articles

• Mekong province promotes foreign investment
• Intel to fund high-tech computer lab at RMIT
• Hanoi T&T win first V-League after scoreless draw
• Sun Wah vows $1m for education, health
• Assoc insists on power price hike despite protests

Vietnam, Canada eye $2 billion in bilateral trade

Canada will further step up cooperation projects in Vietnam, particularly in the fields of education and training

Two-way trade between Vietnam and Canada is expected to exceed US$2 billion and Canada will become one of the leading investors in the Southeast Asian country in years to come.

Prime Minister Nguyen Tan Dung was speaking at a reception given to the outgoing Canadian Ambassador to Vietnam, Deanna Horton, in the capital city of Hanoi Wednesday.

PM Dung spoke highly of the diplomat’s contributions to promoting mutual understanding, friendship and cooperation between the two nations’ people, especially in humanitarian assistance, cultural development, education and international cooperation.

The government leader requested Canada continue to hold negotiations with concerned ministries and agencies of Vietnam to soon sign a bilateral trade and investment protection agreement and speed up the implementation of projects in Vietnam.

He applauded Canada ’s rotating co-chairmanship of G-20 and thanked Canada for its invitation to Vietnam to attend the G-20 Summit in its capacity as Chair of ASEAN last June.

PM Dung said he hoped that in whatever positions, Horton would continue to support and contribute to the development of friendly and cooperative ties between the two nations.

Horton said Canada will further step up cooperation projects in Vietnam, particularly in the fields of education and training.

The ambassador told her host that Canada has funded many projects which have brought practical benefits to Vietnam in environmental protection, epidemic prevention and vocational training.

Investors from Canada currently want to pour more funds into Vietnam, she said, adding that the Canadian Government has already asked Canadian companies to perform in a socially responsible manner while doing business in Vietnam.

Related Articles

• Cashew traders yet to embrace trading center system
• Assoc insists on power price hike despite protests
• Boycott fear forces river polluter payout
• PM foresees bright future for co-operation with Africa
• Vietnam allows weaker dong, sets new reference rate