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More power companies to offer shares

2007-03-02T19:37:00.001-08:00

More power companies to offer shares

Two Vietnamese power companies announced Friday plans to offer shares to the public this month as part of the government’s efforts to restructure state-owned companies.

Ba Ria Thermopower Co. said it hoped to raise increase its capital by VND190.58 billion (US$12 million) by auctioning 12.1 million shares on March 15.

The oil-fired power plant, which now has a registered capital of VND605 billion, will hold the auction at the Hanoi stock exchange.

Thac Mo Hydropower Company expects to raise around VND280 billion ($17.5 million) from a public issue on March 29.

The company has a registered capital of VND700 billion and its auction too will be held in Hanoi.

Neither company, however, said when they plan to list on the stock market.

Source: Dow Jones Newswire

Vietnam FDI to top $12 bln

2007-03-02T19:27:00.001-08:00

Vietnam FDI to top $12 bln

Foreign direct investment in Vietnam, buoyed by the country’s recent WTO membership, is forecast to rise to US$12 billion this year.

It would overshoot the original target by a full $1 billion, the Ministry of Planning and Investment (MPI) said.

In February alone, $1.2 billion was committed, a 27 percent year-on-year jump.

A recent MPI survey found 20 large investors with projects worth $20 billon were seeking licenses.

On the cards

Phan Huu Thang, head of the ministry’s Foreign Investment Department, said most of the projects were viable.

Sumitomo Corp. wants to build a power plant and port in the central Khanh Hoa province’s Van Phong Economic Zone at over $4.6 billion.

If the projects are approved, the Japanese company will become the largest investor in the country, and, at 2,640 MW, the power plant will be Vietnam’s biggest.

Taiwan’s Foxconn, the world’s leading maker of outsourced electronics products, plans to build a plant each in the northern provinces of Bac Ninh and Bac Giang at a cost of $3 billion.

The Bac Ninh factory will be in a 1,000 ha complex which will include a hi-tech park, township, golf course, hospital, and entertainment park.

In Bac Giang too it will be situated in a similar, 1,500 ha complex.

The two plants will churn out computers and communication and consumer electronic products.

Malaysian urban developer Gamuda Group is seeking to invest $1 billion to build a 323 ha integrated commercial complex in Hanoi.

If licensed, construction will start by the end of this year and be completed in eight years.

It would include a convention centre, office towers, international five-star hotels, and luxury properties.

Vietnam has raised its FDI target for 2006-10 to $55 billion, with focus on hi-tech industries.

It also hopes $25 billion will actually be brought in, 55 percent into the industrial sector, 37 percent into the services sector, and 8 percent into the agro-forestry-fisheries sector.

Last year it received $10.2 billion, far above the original target of $6.5 billion.

Reported by Manh Quan – Compiled by Dong Ha

Mekong Delta Tourism:

2007-03-02T19:24:00.000-08:00

Mekong Delta Tourism:

Master Plan Needed

Problems remain on how to invest more in tourism and how to mobilise the public in the development tourism culture

On October 3, 2003, in Can Tho Mekong Festival, a seminar " Mekong Delta tourism potentials and investment opportunities " was organised by Can Tho Tourism Service and Van Lang University. Participants were researchers, representatives of tourism and trade services in the region and tourism companies.

The Mekong Delta has a strong attraction in its wilderness, diversity and richness in ecology, landscapes and population. In addition to such famous destinations as Vinh Trang pagoda, Thoi Son islet, Dong Tam snake farm (Tien Giang), Truong An tourism centre, Binh Hoa Phuoc islet (Vinh Long), Ba Tri bird haven (Ben Tre), Phong Dien floating market, Bang Lang stork garden (Can Tho), coastal mangrove forests, etc. more destinations and tours will be developed namely An Giang tour in flood season, high-speed boat tours to Can Tho, Chau Doc, Phnom Penh, etc. There is, however, an unsolved problem, that is public education on tourism. The tourists are often harassed by hawkers. "How to prolong the tourists' stay?", Mr Do Van Hoang, General Manager of Saigon Tourist asked and pointed out : There must be further development of different ecological areas, integration into the daily life of the population, excursion combined rest and shopping. Though colourful and diversified, Mekong Delta still lacks of rest and recreation centres, large and airy restaurants, better river boats, museums on Oc Eo culture, regional nature and agriculture that provides an overall look of the Mekong Delta.

In fact, there is no master plan for the development of tourism in the Mekong Delta making tourist products repetitious and boring. According to Mr. Hoang, there must be a complete planning, each province must have its own attraction to keep back tourists place to place. Tourists must have the chance to live closer with the local people, for examples, bringing tourists to farmers' home, sharing with them foods and drinks. Saigon Tourist has experimented a successful programme of celebrating traditional Tet in Tien Giang. This year, Saigon Tourist will develop further this programme to attract foreign visitors. The tour along the Mekong river will also be combined with eco-tourism. The tour upstream to Angkorwat (Cambodia) will certainly attract more tourists.

After the festival, many ideas have been elaborated for further development of tourism in the Mekong Delta. A helipad has been built in Ca Mau cape and will be operated in December this year, opening an exciting tour to the Southern tip of Vietnam.

Problems remain on how to invest more in tourism and how to mobilise the public in the development tourism culture.

(vietnamnet)