14 per cent will reduce the number of employees in Vietnam.

The Chairman of the European Chamber of Commerce (EuroCham), Alian Canym, said the index reflects the confidence of EuroCham members in Vietnams business prospects. However, he said European businesses are still worried pean about the countrys equitisition process and macro-economic macro stability. According to Dr. Matthias Duehn, EuroCham managing director, the debt crisis in the Euro zone has affected investors decisions in Asia. Many investors are keen on the Southeast Asian market, including Vietnam. Therefore, he said, Vietnam should sharpen its competitive edge to attract more investors vir.com.vn Dung Quat Economic Zone aims high Dung Quat Economic Zone is set for a big boost. It follows n news the countrys leading industrial park developer VSIP and Singaporean Sembcorp Industries have agreed to invest into the central Vietnam facility. The zone offers investment advantages strategic

EuroCham: Vietnams business climate index increases slightly There has been a slight increase in business confidence and outlook among European enterprises in Vietnam, according to the EuroCham Business Climate Index survey announced on February 1.

VSIP, short for Vietnam VietnamSingapore Industrial Park and Township Develo Development, last September signed a memorandum of understanding with the province to conduct a comprehensive feasibility study of a 1,020 hectare integrated township and industrial park in Dung Quat, its fifth industrial park and township integrated project in Vietnam. The proposed development comprises a 500ha industrial park located within this zone, where government-supported supported special economic zone incentives are made available to manufacturers. Separately, under consideration is 520ha zoned for commercial an and residential purposes near downtown Quang Ngai city. Sembcorp Industries, last month, also signed a memorandum of understanding with Quang Ngai Provincial Peoples Committee to start exploring the feasibility of developing a 1,200 megawatt coal coalfired power plant in Dung Quat er Economic Zone. These two infrastructure projects are very significant to the zones development. VSIP is a well wellknown industrial park developer in

The results of the survey showed that the EuroCham business climate index rose to 52 points after dropping 11 points in the fourth quarter of last year. About 36 per cent of surveyed businesses expressed pleasure at their current business operation in Vietnam, while 26 per cent are still pessimistic. More than 47 per cent are expected to see a middle-term increase in their trade revenue and 27 per cent want to maintain their current business operation. Only eight per cent voice concern over the negative impact of Vietnams inflation rate. Regarding recruitment place in 2012, 40 per cent of surveyed businesses say they will employ more workers, 39 per cent want to maintain their current staff level, and

Le Van Dung, deputy director of Dung Quat Economic Zone Management Authority, said the authority expected that there would be a plenty of manufacturing projects flocking in the zone, following the investments of VSIP and Sembcorp Industries.

Vietnam and could bring its potential customers here, while Sembcorps investment would ease the concern of power shortage, said Dung. Once those two projects are developed here, I believe many foreign and domestic manufacturers will eye Dung Quat as the best choice for making investment in the central region, Dung added. According to VSIP, Dung Quat is located 100 kilometres from Danang and is ideal for labour intensive fast moving consumer goods and food and beverage manufacturing, serving both the northern and southern economic zones of Vietnam in addition to its central markets that stretch from Thua Thien-Hue to Phu Yen provinces. The Vietnamese government has plans to build an expressway linking Quang Ngai and Danang, while it is also planning to upgrade Chu Lai airport, close to Dung Quat zone, to make it one of the largest cargo transshipment airports in Southeast Asia. These projects would further improve the infrastructure system connecting to the zone. To date, Dung Quat Economic Zone Management Authority has granted investment certificates to 111 projects with total committed capital of around $8 billion, of which $4.8 billion has been disbursed. Among these large projects, PetroVietnam is running an oil refinery there, Korean Doosan Heavy Industries has built a $300 million manufacturing factory and Taiwanese E-United Group is

expected to start construction of its $4.5 billion steel manufacturing factory in the zone. vir.com.vn Vietnam Trend Sea Development

Is it true that Vietnam has only 3,260 km of coast? Given the new standpoint that the sea is a living environment rather than an environment to earn living, the length of Vietnamese coasts from Quang Ninh to Ca Mau and islands possibly doubles or trebles the currently defined one. In 2004, the United States earned nearly US$23 billion from export of ornamental fish in coral reefs and recreational fisheries while Vietnam raked in just US$4.5 billion from export of all kind of aquatic products in 2010. Better late than never Waiting from 1998 till May 2010, Dr Nguyen Chu Hoi, Deputy General Director of Sea and Island Department under the Ministry of Natural Resources and Environment, only felt rewarded when the planning for Vietnam maritime protected area system through 2020 was approved the Prime Minister. As the lead of this planning project, he directly travelled with colleagues and specialists from the World Wildlife Fund (WWF) to survey 15 sites proposed for the formation of national marine protected areas. Since he was the head of the Oceanography Unit in Hai Phong City (now the Institute of Sea Resources and Environment, Mr

Hoi had felt regretful because the 20 years-late planning missed a lot of opportunities to catch the attention and interest of international donors (now they have shifted the focus to climate change). Besides, when the planning was being carried out, resources of maritime protected sites also declined. For example, coral coverage shrank from 70 percent to 30 percent as a result of overexploitation. However, the associate professor still felt very happy as the Government approved the planning. In other words, protected spaces would be zoned to manage and prevent from external intrusion. And over time, maritime protected areas will gradually recover and this process requires active human intervention to be quickened. He said as much as 70 percent of the value of marine protected areas is coral reefs known as pioneering ecosystems which are combined with other ecosystems to be called habitats and homes for living species to reside. Therefore, we can restore coral reefs by creating artificial reefs by using different methods like cement substrates, sinking old ships, etc. The idea of sinking old ships was introduced by Mr Hoi in 2005 and this is now being supported by many people, particularly foreign specialists. Nonetheless, this has not been done in Vietnam. Sinking old ships is a long-standing practice in some countries. In early 2010, Australia sank a USA warship manufactured in 1936 to create artificial coral reefs. France reported

to design maritime protected areas along the coast of the Mediterranean where lied a sunk ship since the 18th century. This is now an interesting diving site for tourists who have to pay US$10 for each time of diving. If Vietnam can do this, old ships will be purchased and sunk into the sea to create coral reefs. It can exploit marine resources and develop tourism there, he added. For example, we can instruct fishermen to develop tourism services like fishing or other seafriendly businesses in the Co To marine protected area (Quang Ninh province) instead of using dynamites and chemicals to catch fish. In 2004, the United States of America earned nearly US$23 billion from export of ornamental fish in coral reefs and recreational fisheries while Vietnam raked in just US$4.5 billion from export of all kind of aquatic products in 2010. Probably, developing marine ecological tourism, raising ornamental fish in coral reefs or developing and recreational fishery in marine protected areas is a form of blue economic development, not simply green economic development. Spill-over effect Notably, with effective conservation, resources in marine protected areas will be recovered after 3 to 5 years and spread to surrounding areas (this development is called spill-over effect). For that reason, marine protected areas will help disperse living creatures, larvae, eggs and baby fish and provide nutrients for marine species. This explains why a coral reef is a

favourite habitat for 3,000 species. With good management, marine protected areas will help shape and develop sustai sustainable fisheries. The Nha Trang marine protected area is a famous tourist attraction in Vietnam but, according to Mr Truong Kinh - director of the protected site, this place has not had ecotourism activities. In 2008, the management board an ecotourism development scheme to competent velopment authorities but it has not been approved. The board will continue pursuing this. According to Mr Hoi, to develop marine protected areas, we must have an appropriate mechanism. He explained that we can create peculiar mechani mechanisms for marine protected areas like the way we do with open economic zones in order to attract foreign investors, motivate local people to pursue new careers, etc. This will in turn help protect valuable resources. vccinews.com MPI Frowns on New Economic Zones

parks, export processing zones and economic zones in Vietnam. One of the most attention attentioncatching contents of the meeting was to seek out more proper models for economic zones to turn them into real economic engines for regional economies. High in quantity, low in quality Economic zone development policy was initiat initiated in 1997. The Fourth Congress of the 13th Party Central Committee ratified the guideline for a pilot construction of some special economic zones and free trade zones in coastal areas. Chu Lai Open Economic Zone was the first coastal economic zone to be established in the county in 2003. In 2008, the Prime Minister issued Decision No. 1353/QD 1353/QD-TTg to approve the coastal economic zone development plan through 2020, which clearly targets at the formation of a system consisting of 15 coastal economic zones. In 2010, the Prime Minister agreed to add three coastal economic zones to this plan. As a result, 18 coastal economic zones have been approved for construction and development from now to 2020. They cover a total land and water area of 730,553 ha (equiva (equivalent to 7,305.53 square kilometres), or about 2.2 percent of the countrys total area. Important infrastructures and utilities in coastal economic zones are funded by the State Budget. However, by the end of 2011, the State Budget reported to have spent just VND11,361 billion for

The Ministry of Planning and Investment recently hosted a meeting to review 20 years of building and developing industrial

infrastructure construction in coastal economic zones. With a huge area and a limited funding source, most economic zones are now in the process of investing, constructing and completing infrastructure, according to the Ministry of Planning and Investment. Most importantly, economic zones attract a humble amount of investment capital in relation to their scales. Until now, coastal economic zones have attracted more than US$ 31 billion of foreign direct investment (FDI) and nearly VND564 trillion of domestic investment. It is noted that these are just registered values, not disbursed ones. The total leased area reached 20,000 ha, accounting for nearly 40 percent of total land area used for industrial production, tourism and services. Of this area, just 7,000 ha have leased to secondary investors or projects. Companies in coastal economic zones made total turnover of US$8 billion, raked in export revenue of over US$1 billion and paid nearly VND20 trillion to the State Budget in 2011. Hardship kills wisdom According to the Ministry of Planning and Investment, due to limited experience, economic zones have exposed a number of operating problems. Some economic zones fail to serve as driving engines for economic development in expected areas and operate for localised

purposes, not for general national benefits. This resulted from the formation of economic zones in disqualified areas. Local authorities asked for the establishment of economic zones because of their short-term local benefits. While provinces and cities asked for the formation of economic zones, the State Budget funds investments. This leads to incomplete, non non-synchronous and poor-quality quality infrastructure construction. In fact, a coastal economic zone needs to ha driving projects and have locate near deepwater seaports and airports to develop well. Nonetheless, not all coastal economic zones have these three essential facilities; hence, they difficultly attract investors. More importantly, economic zones lack strat strategies to attract sectors of comparative advantages, lack mutual cooperation and support for joint development. Economic zones usually have similar investment orientations like building deepwater seaports and airports, attracting investment capital for shipbuilding, port services, marine ipbuilding, tourism, seafood processing and thermal power. For this reason, they usually compete with each other. According to the Ministry of Planning and Investment, all economic zones have huge scales and require concentrated res resources for infrastructure development investment. Therefore, new establishment and expansion need to be carefully weighed up.

In the coming time, both central and local authorities need to look to the same direction. It is not necessary to set up new eco economic zones but create mechanisms, policies, and resources to improve the performance of economic zones. Established ones need to be categorised to be given investment priority. Some need to be developed before others, said the ministry. vccinews.com

Vietnam Attracts US$37.3 Mln etnam in FDI in January Vietnam lured US $37.3 million in foreign direct investment (FDI) in January, including US $27.1 million in processing and manufacturing sectors, according to the General Statistics Office. Among 12 localities receiving FDI last month, Ho Chi Minh City posted the biggest registered capital of US $13 million, followed by Thanh Hoa, Ha Nam and Hung Yen. Among 11 countries and territories having investment projects in Vietnam licensed in Janua January, France is the biggest investor, with total capital of US $10 million, followed by Japan, the Republic of Korea and Singapore. The combined FDI in January was equal to 2.5% of that of the same period last year. This year, Vietnam pays attention to dis disbursed FDI capital, not registered capital, to quality of projects, said Mr Do Nhat Hoang,

Director of the Foreign Investment Agency under the Ministry of Planning and Investment. Which Investment Channels in Vietnam Are Profitable?

investment channel in early 2012 when no better markets have been defined. For the time being, de deposit interest rates are publicly quoted at 14 percent per annum in most banks but actual rates may be higher. Even, rates of demand deposits approximate this level. Depositors have the chance to join a lot of promotion programmes as well. The State State-owned Bank for Investment and Development of Vietnam (BIDV) has launched a promotion programme with more than 117,000 awards worth VND26 billion for depositors from December 22, 2011 to March 15, 2012. The Hanoi Building Commercial Joint Stock Bank (Habubank) (Habubank has recently awarded lucky customers in Hanoi and Hai Phong cities. The Hanoi Hanoi-based lender carried out a lucky draw for depositors, with more than 1,000 prizes. In addition, many other banks also offer promotions and attractive gifts to savings deposit depositors. For this reason, this channel is a safe shelter for investors. Real estate, gold or stock? Although bank savings are safe, the return on margin is often lower than other channels. This is usually a temporary shelter when prospects other markets are unclear. Real estate, gold and stock markets are likely offering attractive investment opportunities but many investors are still very precautious. It was a very tough time for property investors last year. A series

of real estate companies had to shut down, sell off products or declare own, bankruptcy because of interest burdens and loan repayments. According to statistics, real estate companies are incurring an enormous debt of VND245 trillion (excluding corporate bonds). Most of this money has been injected into medium and high high-grade apartment projects and residential zones, turning banks and the economy into the hostages of property market. Dr Le Xuan Nghia, Vice Chairman of the National Financial Supervision Committee, said the real estate sector is posi huge risks to posing banks. Thus, the recovery of the real estate market is not only a cure for banks but also for other economic sectors. Nonetheless, according to many experts, the real estate is a lucrative investment channel for investors this year. The past year witnessed a sharp drop of VN-Index and HNX Index HNX-Index the gauges of Vietnamese stock exchanges because of macroeconomic problems. Besides, this investment channel was heavily driven by negative information on the world market, particularly public debt problem in Europe. However, hopes of recovery on this investment channel are high in 2012 after Finance Minister Vuong Dinh Hue asserted in a press briefing that this investment channel would thrive, citing the Ministry of Finance and the State Secu Securities Commission (SSC) would take more drastic measures to regain investor confidence. At the last National Assembly meeting, the Government

Depositing money at banks is now considered the safest investment channel Vietnams economy is forecast to experience unpredictable development in 2012, according to many economists. The Government's determination to bring inflation to a single-digit rate will reduce the possibility of recovery for securities and real estate markets because of the effects from tightened credit policies. However, some experts have cited good reasons for the recovery of stock and real estate markets this year. For investors, determining which investment channels will bring good profits in 2012 is a hard question to solve. Savings - Safest shelter Depositing money at banks for profit is considered the safest investment channel at the moment, according to many economic experts. Dr Vo Tri Thanh, a senior specialist at the Central Institute for Economic Management (CIEM), bank savings are still the most attractive

pledged to have measures to rescue this market in couple with Stateowned enterprise restructuring. When the economy revives, the stock market will flourish as a result. In addition to the Governments solutions, the very potentials of the stock market are also attracting investors. Valuations are relatively low and worth investing. At the opposite extreme, gold is becoming an unknown to quick profit hunters. Directly driven by global economic developments, domestic bullion prices are quite volatile. In 2011, the price of this precious metal was very changeable. It peaked nearly VND50 million per tael (1.2 ounces). Notably, the difference between domestic and international gold prices reached VND5 million per tael, making gold an easy earner for many investors. In 2012, given continued difficulties facing the world economy, gold is believed to soon go past the threshold of US$2,000, even US$2,500, an ounce. Hence, gold prices will probably continue to go up in both domestic and international markets. It is hard to tell about the appearance of strong waves as in 2011 but the profit from gold hoarding is undeniable. However, gold investment has given dear lesson to many investors because they failed to follow the fluctuation of this metal. Besides, the policy of tightening control over gold trading is thinning transactions. Hence, this investment channel is not actually safe and attractive. vccinews.com

FDI 2012: Quality Disbursement in Focus

and

considered a plus for Vietnam in attracting foreign investment, it turns out to be a barrier now wh the when ratio of untrained workers increases and labour costs grow. In a recent study by the FIA and the United Nations Industrial Development Organization (UNIDO), as many as 32 percent of foreign investors said the lack of high high-tech workforce in Vietnam is the most important reason s for their inability to run at full capacity. This directly cuts the advantage of low labour costs. The third is the institutional challenge. Mr Noi said despite marked and recognised progress, investors are showing concern abo about the time needed to solve administrative procedures when they do business in Vietnam. Efforts to overcome difficulties He said Vietnam is trying to remove these barriers. The Prime Minister issued Decision 71/2010/QD-TTg on pilot public TTg private partnership (PPP) investment ership mechanism regulations a move to mobilise maximum resources from the domestic private sector and the world for infrastructure development. Besides, Vietnam is actively carrying out a project to renovate and develop vocational training from now to 2020 in order to ing raise the ratio of trained labourers to 55 percent by 2020. The country is also looking into what are considered barriers to production and business activities to make changes and facilitate the formation and operation of FDI enterprises. DI Notably, the number of super superlarge projects, particularly real estate

The Foreign Investment Agency (FIA) under the Ministry of Planning and Investment (MPI) said Vietnam attracted US$14.7 billion foreign direct investment (FDI) capital in 2011, equal to 74 percent of 2010. Explaining this decline, FIA Deputy Director Nguyen Noi said, The slump partly results from global and Vietnamese economic slowdown and Vietnams growing attention to investment quality, capital quality and di disbursement process. Three attraction challenges in FDI

At the "Economic Forecast 2012 - 2015" Conference recently held in Hanoi, a FIA official pointed out that Vietnam was facing three major challenges. The first is infrastructure development that fails to meet economic development needs and fails to serve as a magnet for new investors and ensure the best operating result for existing FDI enterprises. The second is human resources. Although this was previously

projects, declined. In 2011, only two projects had an individual registered capital of over US$1 billion. Both are industrial. The first was the US$2.26 billion Jak Hai Duong power plant and the other was the US$1 billion First Solar cell production facility in Ho Chi Minh City. In 2012 and subsequent years, Vietnam will not focus on FDI value, but on quality and disbursement. FDI attraction will essentially match the 5-year socioeconomic development plan from 2011 to 2015 and the 10year socioeconomic development strategy from 2011 to 2020. Accordingly, the FDI sector will be developed in accordance with plans. Projects using modern, environmentally friendly, costeffective and energy-saving technologies will be given priority. FDI projects will be encouraged to develop supporting industries, take part in global production networks and value chains, and promote competitive advantages, advanced technology and human resource training. FDI will be discouraged for non-manufacturing sectors, trade deficit-causing fields, fields that use natural and land resources inefficiently, employ outdated technology or cause environmental pollution. From these principles, only financially and technologically qualified investors will be selected. Vietnam will adjust FDI policies, incentives and mechanisms. Given global economic uncertainty, limited domestic infrastructure and human resources, and the time needed for policy

changes, the F Foreign Investment Agency forecast that Vietnam will attract US$15 billion in FDI capital and see foreign investors to disburse US$11 billion in 2012. vccinews.com Vietnam Economic Scenarios for 2012: Focus on Economic Restructuring

forecast are the global economic slowdown, especially growth centres (the United States, the European Union, Japan and China), and the growing volatility and potential outburst of currency war and trade war (even the risk of a dou double-dip crisis). With fast fast-opening economic integration, the Vietnamese economy is likely to be afflicted with strongly negative impacts from the above trend of the world economy. In 2012, Vietnam has to restore macroeconomic stability, control inflation and revive growth. In principle, these are normal tasks of an economy when it falls into decay. But, Dr Tran Dinh Thien, Head of the Vietnam Institute of Economics said: 2012 is a special year. This year, the economy falls into a dilemma but it has t create a to turning point to shift the situation, i.e. stabilise the situation (prevent the return of inflation) to restore confidence, lower inflation to a level that will help enterprises stay away from a worse tragedy (more enterprises go bankrupt and collapse). In addition, the year 2012 is also special highlight: Economic restructuring with actually strategic actions to change growth model. Caution with the spiral of economic development Dr Tran Dinh Thien added that excessive budget deficit and public debt are intolerable pressures on developed countries like the EU, the US and Japan, and are dire threats to the stability of the world economy.

2012 is a special year featuring the dismal picture and volatility of the economy. According to experts, Vietnam needs a scenario with strong, clear actions in accordance with the spirit of restructuring - the main task for Vietnam and the leading access t ease inflation and to stabilise macro economy. At the conference entitled "The World and Vietnam: Forecasts 2012 recently held in Hanoi, leading domestic and international economic specialists and institutions shared the common viewpoint that this was a ch chance for Vietnam to reform and improve its capacity to create a historic turning point for its economy. Special year There are many reports that share the gloomy outlook on the world economy in 2012, even much worse than that in 2011. Two most important leading points for such a

These predicaments will negatively impact Vietnams development. At present, Vietnam is facing with growth slowdown, spiralling inflation, serious trade and budget deficit, and weakening currency. These have persistently existed for years. It is time to talk about the spiral of economic development: Stagnation coupled with high inflation. If Vietnam falls into this 'whirlpool', it will be a very dangerous situation, Mr Thien stressed. The Ministry of Planning and Investment reported for the first time that nearly 50,000 businesses, or 9 percent of the total, went bankrupt in the first 9 months of 2011 - the figure that portrayed the gravity of the situation. This evidenced the health of enterprises now. Dr Can Van Luc, a financial and banking expert, noted that the global economic picture in 2012 portrayed continued debt crisis and political unrest in the EU and the US in couple with public debt concerns in Japan, which led to austerity policies, recession in eurozone, stock market slump and weakening US dollars and euro. Remarking on the Vietnams economy, Mr Luc said exports expanded strongly in 2011 but the growth was forecast to be lower this year; inflation was projected to top in the region; and trade deficit was predicted to remain high. Besides, stock and real estate markets would likely face difficulties. Nonetheless, he noted a lot of 'bright spots' on the picture like capital inflows from developed countries and overseas

remittances which were estimated at US$9 billion in 2011, making Vietnam one of 10 largest recipients of remittances. Focus restructuring on economic

In 2012, Vietnam wi confront will numerous difficulties in growth and macroeconomic stability because it has to restore growth, curb inflation, stabilise macro economy while stepping up economic restructuring. The economy cannot step backwards any further; thus, we needs to ma a turning point. The make most important task is to curb inflation but it is vital to determine how much to lower to ensure that enterprises will not go bankrupt, said Mr Thien. In economic restructuring, increasing accountability of the State administrative apparatus and restoring disciplines is very important. Salary reform needs to be given priority. The State budgetary system reform is necessarily stepped up because improper spending to actual situations and markets will lead to imbalance. I addition, land In policy will be essentially reformed; State-funded capital will be prioritised for key economic sectors. In reality, to drive the economy out of the current difficult situation (indeed, still in a more difficult situation), the economic r restructuring is crucially given priority (aiming to change growth pattern). But, to bring the restructuring process to life, it is vital to stabilise the economy to restore market confidence and social confidence.

Moreover, the Government focuses on impl implementing six groups of major measures: Curbing inflation, stabilising macro economy by means of tightened fiscal and monetary policies; gradually restructuring the economy in association with changing growth pattern based on efficiency and competitiveness enhancement; effectively strengthening and promoting foreign affairs and international cooperation to boost the efficiency of integration; improving socioeconomic development planning and forecasting; enhancing the effectiveness and efficiency of State management and strengthening agement corruption prevention; and bolstering information activities. In the coming time, the Government will concentrate on three key contents of economic restructuring: investment restructuring, with the centre being public investment restructuring; corporate restructuring, with State Stateowned enterprises in the spotlight; and financial system restructuring, with commercial banking system in the limelight vccinews.com

Dung Quat IZ attracts $8 billion investment As of early 2012, the Dung Quat Industrial Zone (IZ) has granted licences to 111 projects with total registered capital of $8 billion, of which $4.8 billion has been disbursed.

ships, aiming to deliver them to their new owners this year. Hang Ha Ryu, General Director of Doosan Vina, said the company has targeted $200 million in export earnings in 2012, up $126 million compared to 2011. Nearly 2,000 officials, engineers and workers resumed work on major signed contracts after the Tet holiday. On January 30, all companies in the Dung Quat IZ began normal operations, hoping to earn VND150,000 billion ($7.14 billion) from industrial production and $250 million from exports. The IZ plans to contribute contribu about VND15,000 billion ($714 million) to the State budget and generate 1,500 new jobs in 2012. vir.com.vn PPP Model Promises Capital Source for Transport

development period.

in

the

2011 2011-2015

The MoT has been seeking capital for transport development projects by introducing mechanisms and policies to lure more social resources, especially via the PPP model. Transport Minister Dinh La Thang said it would be very difficult for Vietnam to finalize transport projects using only State budget in the next five years. The country needs over VND 150,000 billion for transport development projects. However, Vietnam is able to mobilize VND 88,000 billion from foreign sources and still lacks 75% of corresponding capital. The Ministry of Planning and Investment (MPI) assessed that the application of the PPP model in line with international standards would resolve capital shortages for ongoing BOT and BTO projects in the country and mobilize more pr private sources for the work. The MPI forecast that Vietnam would draw around US $70 $70-80 billion from the PPP model with other countries over the next ten years./.

To date, 67 projects have been put into operation, with 31 operating effectively, including a Vietnam National Oil and Gas Group oil refinery project, a Dung Quat shipbuilding project and a Doosan Heavy Industries Vietnam (Doosan Vina) project. Nguyen Hoai Giang, General Director of the Binh Son RefineryPetrochemical Company that manages and operates the Dung Quat Oil Refinery, said after two years of operation, the plant has produced more than 10 million tonnes of various types of oil. This year the Binh Son Company aims to store 6.5 million tonnes of crude oil and produce and sell nearly 6 million tonnes of other kinds of oil to earn VND108,355 billion ($5.16 billion) and contribute more than VND15,000 billion ($714 million) to the State Budget. The company will also increase the Dung Quat Oil Refinerys capacity to 10 million tonnes of crude oil per year, and diversify its products to meet increasing demands. On the fourth day of the Lunar New Year (January 26), nearly 1,800 Dung Quat Shipbuilding Industry Company officials and labourers resumed work on 104,000-tonne

The Public Private Partnership (PPP) model should help provide a significant resource of capital for infrastructure development in Vietnam, said Deputy Prime Minister Hoang Trung Hai. DPM meeting Transport mobilize Hai Ha made the point at his with the Ministry of (MoT) to discuss ways to capital for transport

vccinews.com