First biomass plant project licensed in Phu Tho

HCMC – Authorities in the northern province of Phu Tho have awarded an investment certificate to develop a biomass power plant in Phong Chau Town of Phu Ninh District.

The project with a generation output of 40MW or about 330 million kWh a year is invested by the Vietnam Hi-tech Biomass Joint Stock Co., the Vietnam News Agency reports.

The project will use rice straws, corn stalks and other bio materials as feedstock for the power plant, which helps reduce environment pollution. The news agency reports that the project will use modern technologies from G8 countries.

The project needs some VND1.16 trillion in investment capital.

Ho Dai Dung, deputy director of the provincial Department of Planning and Investment, said that the project would be operational in 2013 and create nearly 3,500 jobs for locals.

Besides, the project will help farmers of the province to earn more from agricultural organic wastes and other garbage in rural areas.

According to experts, the use of such materials as fuel is not only environmentally friendly as it releases less CO2 when burnt than fossil fuels do, but also helps bring stable income to farmers in the country.

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Local developers launch low-cost condos

Some buyers take a look at a blueprint of Binh Duong New City displayed at the sales launching event of TDC Plaza in Binh Duong Province last week - Photo: Dinh Dung

HCMC – Two local property developers have launched their condo projects currently underway in HCMC and the southern province of Binh Duong, offering more options to homebuyers who are searching for affordable homes.

Hai Thanh Trade and Production and Vinaconex Xuan Mai companies announced on Monday to start marketing their affordable condo project named Binh Tri Dong B on Ten Lua Street in HCMC’s Binh Tan District.

The apartment building is in a residential project called Hai Thanh – Ten Lua, which covers some 6.5 hectares and is designed with 104 garden houses, 31 row houses and three 12-story buildings with 352 apartments measuring 52 to 75 square meters each.

The developer said those apartments would be offered at VND10.5 million per square meter. The total value starting from around VND550 million per apartment is believed within the reach of many people, especially white-collar workers.

The company said it had partnered with banks such as Sacombank, HDbank and Techcombank to give financial support to homebuyers, offering loans with a down payment made within 20 years.

The condo project is scheduled for completion by the first quarter of 2012.

In another project, Binh Duong Trade and Development JSC late last week launched the second phase of a sales program for its condo project named TDC Plaza under development in the southern province of Binh Duong, some 35km from HCMC.

TDC Plaza is a component in Binh Duong New City, which covers some 1,000 hectares of land encompassing six communes in Ben Cat District and Thu Dau Mot Town in the province.

The project requires some VND1,000 billion for development and is designed with five blocks of buildings with 779 apartments from 82 to 117 square meters.

Doan Van Thuan, general director of the company, said TDC Plaza would hit the market with 150 apartments in the second phase of the sales program, with prices ranging from VND15 million to VND16 million per square meter.

The company wrapped up its first phase with 100 apartments sold out. Nearly half of the buyers came from HCMC, while investors from Hanoi accounted for 30% and the rest was locals.

The developer offers potential buyers down payment of up to eight years, instead of around three years as often seen.

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Tourism authority steadfast on tour guide cards

HCMC – The Vietnam National Administration of Tourism (VNAT) stands by its decision on professional cards for tour guides, saying these employees have to obtain the new plastic cards under the new Tourism Law if they are to continue their job.

Vu The Binh, head of the Travel Department of VNAT, told the Daily that the paper-based cards expired on September 30, and no new deadline is now given.

“We need to comply with the Tourism Law. Tour guides can’t serve tourists without these professional (plastic) cards,” he said, rejecting a new request from HCMC to soften the stance to give tour guides more time to meet the requirements.

Under the new law, tour guides serving international travelers must have a bachelor’s degree, a new requirement that many professional guides fail to meet.

The HCMC Department of Culture, Sports and Tourism last week asked the Ministry of Culture, Sports and Tourism and VNAT to ease the qualification requirements to solve the situation, especially for tour guides serving guests from China, Germany and Japan.

The city’s tourism department asked VNAT to allow such tour guides to change for the new cards first and then complete the degree over the next three years.

The city’s department said that over half of the professional tour guides in HCMC catering to foreign tourists cannot change their paper-based cards for the plastic due to higher standards.

“In 2006, we once allowed the provincial tourism departments to issue temporary cards for tour guides, giving them time to complete the degree, but many people ignored the requirement. We need to follow the law,” he said.

According to the HCMC Department of Culture, Sports and Tourism, after three months of issuing new cards to tour guides, fewer than 700 guides have obtained the plastic compared to the number of 1,680 professional guides in the city.

In related news, VNAT has asked all international travel companies to change licenses before December 30. The change is required under the Tourism Law, which took effect in January last year.

VNAT said the old licenses would expire on that date.

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Winners of World Travel Awards announced

Thomas Schmelter (2nd, R), IHG area general manager in Vietnam and Lee Yong Nam (2nd, L), owner of InterContinental Asiana Saigon lift the World Travel Awards accolade at a presentation in India last week - Photo: Courtesy of InterContinental Asiana Saigon

HCMC – Organizers of the World Travel Awards have named four hotel and spa properties in Vietnam in the list of Asian winners for the prestigious industry accolade in 2010 based on the votes cast by travel professionals and consumers worldwide.

Travel professionals have chosen InterContinental Asiana Saigon as Vietnam’s Leading Hotel, Sheraton Hanoi Hotel as Vietnam’s Leading Business Hotel and Evason Ana Mandara properties including the one in Nha Trang as Vietnam’s Leading Resort and Leading Spa Resort.

The properties were selected as the winners of the 2010 World Travel Award Winners for Asia based on different categories, including services and business performance. The survey attracted votes from 183,000 travel professionals, including travel agencies, tour and transport companies and tourism organizations in over 160 countries and territories.

Jolyon Bulley, vice president of operations for South East & South West Asia of InterContinental Hotels & Resorts (IHG), said in a statement that the Leading Hotel accolade was great testament to a new property like InterContinental Asiana Saigon, which was opened on September 9 last year.

Thomas Schmelter, IHG area general manager in Vietnam, said the InterContinental Asiana Saigon hotel and residences as well as IHG management had successfully dealt with the challenges of opening a new complex and have delivered good results.

Winners of the regional arena will be qualified to compete in World Travel Awards 2010 Grand Final in London before World Travel Market kicks off on November 7.

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Robust economic recovery in East Asia, says WB

The economic recovery in Vietnam in particular and in East Asia and
the Pacific in general is robust, said the World Bank in its latest
East Asia and Pacific Economic Update.

The WB Update was announced at a press briefing in Hanoi on Oct. 19.

According to the Update, Vietnam ’s economy has recovered strongly
with a GDP growth of 5.3 percent in 2009 and is on the way to the
target of 6.5 percent this year. The nation’s foreign investment rose
from 6.9 billion USD in 2009 to 7.6 billion USD in 2010.

In addition, manufacturing companies’ relocation of plants in Southeast
Asia is benefiting Vietnam as its workers’ salaries are low and its
sea-bordered position is favourable for attracting investment capital.

The Update notes that output has recovered to above
pre-crisis levels throughout developing East Asia, and is expanding at
near pre-crisis rates in some countries. Real GDP growth is likely to
rise to 8.9 percent in the region in 2010 (6.7 percent excluding China
), up from 7.3 percent in 2009 and in line with the average growth
rate during the 2000-2008 period. Private sector investment is once
again driving growth, confidence is on the rise, and trade flows have
returned to pre-crisis levels.

Yet, greater confidence
in the region's growth prospects and concerns about tepid economic
expansion in advanced economies is creating the need for policymakers to
perform a delicate balancing act -- in particular, around the return of
large capital inflows and appreciating currencies.

"Should inflows remain strong, especially against a background of weak
global growth, the authorities will be faced with the challenge of
balancing the need for large capital inflows -- especially foreign
direct investment -- with ensuring competitiveness, financial sector
stability, and low inflation," said Vikram Nehru, World Bank chief
economist for the East Asia and Pacific region.

The East
Asia and Pacific Update which is published twice yearly is the WB’s
comprehensive review of the region’s economies./.

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Work begins on Central Highlands aluminum plant

Photo: AFP

Chalieco, a subsidiary of Chalco, China’s largest aluminum producer, and Nhan Co-TKV Alumina Corp began construction of an alumina plant in the Central Highlands Monday.

This VND8.84 trillion ($500 million) plant in Dak Nong Province will be completed in two years, the contractors said at the groundbreaking ceremony.

Chalieco will hire several Vietnamese subcontractors while up to 2,000 workers and engineers from both Vietnam and China will be deployed for the construction.

Ground was broken for the complex eight months ago.

The plant is expected to annually produce 650,000 tons of alumina from which aluminum is made.

Two bauxite plants are under construction in Vietnam, the other being in Lam Dong Province which will produce 630,000 tons of alumina a year when it is soon finished.

The state-owned Vietnam National Coal Mineral Industries Holding Corporation Limited, which is developing the two facilities, said it has got the license to work the mine at the site of the first plant.

Vietnam has the world’s third-largest bauxite reserves, according to a 2009 US Geological Survey.

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Vietnam industry investor survey launched

The Foreign Investment Agency (FIA) under the Ministry of Planning and
Investment (MPI) and the United Nations Industrial Development
Organisation (UNIDO) launched the Vietnam Industry Investor Survey 2010
in Hanoi on October 19.

Surveys will be conducted in the nine cities and provinces in Vietnam
where most foreign direct investment and domestic enterprises are
located.

The sample surveys will be carried out at
1,644 manufacturing, utility and construction enterprises randomly
selected from Hanoi city, Hai Phong city, Vinh Phuc, Bac Ninh, Da Nang
city, Ho Chi Minh City, Dong Nai, Binh Duong and Ba Ria-Vung Tau.

The survey findings will be consolidated on the web-based interactive
“Vietnam Investment Monitoring Platform” which allows relevant
enterprises and individuals to make enquiries to better understand the
characteristics of Vietnam’s investment environment.

Do Nhat Hoang, General Director of FIA emphasised that through the
programme, enterprises would have the opportunity to get free access to
business partners, suppliers and potential customers who have been
taking part in the UNIDO international network of Investment and
Technology Promotion Offices.

According to a
representative of UNIDO, the survey will help policy makers generate
systematic evidence in assessing the impact of foreign investment sector
on the development of Vietnamese economy, especially in the industry
sector.

The survey also provides an analysis of the
dynamics of enterprises’ performance and enhances the State
institutions’s capacity in investment promotion and investment climate
improvement.

Over the next two years, similar
surveys will focus more broadly on other sectors of the economy, aiming
to design more efficient policies in investment attraction through MPI./.

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