Vietnamese and Lao trade officials have discussed measures to promote trade in the two countries’ border areas, thus contributing to meeting their target of 1 billion USD in two-way trade turnover by 2010.
At the sixth meeting on trade management in the border areas between Vietnam and Laos on December 4-5 in the Savannakhet province of Laos, the two sides agreed to increase levels of cooperation between border area authorities, pairs of bordergates and markets along the border.
They also agreed that cross-border economic and commercial exchanges between the two countries not only boosts trade activities in the border provinces, but also maximises the potential and strengths of each locality and forms active economic zones in the Vietnam-Lao border areas, contributing to raising two-way trade turnover in recent years from 246.6 million USD in 2006 to 460 million USD in 2008.
The meeting proposed that each country’s authorities remove obstacles to policies, simplify commercial procedures at bordergates, improve infrastructure at border areas, and facilitate cross-border activities and the trade of goods.
The Vietnamese delegation attending the meeting was led by Deputy Minister of Trade and Industry Nguyen Cam Tu and the Lao delegation by Deputy Minister of Trade and Industry Khemmant Phonsena.
Saturday, December 6, 2008
Vietnam, Laos enhance cross-border trade
Luxury Korean real estate project planned for Hanoi
Hyundai RNC Ha Tay Company on Dec. 5 unveiled plans for a Starclass Hanoi luxury building project in Hanoi’s Ha Dong City.
According to the investor, Hyundai RNC Ha Tay Co, the project will be overseen by RoK’s international contractors Woongjin Kukdong, who also drew up the plans for the complex.
According to the project plans, the complex will be built on 4.6 hectares of land and will include five apartment buildings containing 885 high-class apartments, a 21-storey trade centre and 100 luxury villas, constructed in a classic Korean style. Construction of the apartment buildings and the trade centre is due to commence in early 2009 and is expected to be completed in 32 months, according to a Woongjin Kukdong spokesman.
Almost 600 billion VND to upgrade reservoirs
The Prime Minister has decided to provide 593 billion VND (35 million VND) for 28 provinces to make improvements to local reservoirs between 2003 and 2010, according to a dispatch issued on December 5.
The beneficiaries are mostly the northern mountainous, central and central highlands provinces.
The PM instructed the Ministry of Planning and Investment to issue guidance to the localities in order to ensure the effective use of the assistance and to mobilise local resources involved in the work.
One trillion VND for railway sector
The Vietnam Railway Corporation (VRC) is to invest more than 1 trillion VND (59 million USD) in implementing the second phase of a project to modernise the communication and signaling system for the Hanoi-Vinh railway route.
Of the total investment for the second phase, almost 848 billion VND will be sourced from the French Treasury and Economic Policy General Directorate (DGTPE)’s ODA loans.
On December 5, the VRC inked an EPC bidding contract worth 900 billion VND with HASITEC-ALSTOM Vietnam, a joint venture between France’s ALSTOM Transport SA and a local partner.
Under the terms of the 40-month contract, HASITEC-ALSTOM Vietnam will conduct field work and draw up technical and executive plans, make budget estimates and provide materials. It will be responsible for construction work and human resources training.
According to Tran Van Luc, Director of the Railway Project Management Unit, the project is scheduled to commence in January 2009 and is expected to be completed in May 2012.
HCMC tops Asia’s office property market
Ho Chi Minh City was ranked the best market for office properties among big Asian cities, followed by Tokyo, Mumbai, Shanghai and Bangalore, a survey showed Tuesday.
The southern Vietnamese hub was also rated on top for retail and apartment residential property, the survey conducted by US research institute Urban Land Institute and PricewaterhouseCoopers stated.
The survey, based on 180 respondents ranging from global investors, property developers and brokers, was conducted between the middle of August to October.
Tokyo takes the top spot for next year's real estate investment prospects, with many foreign investors seeking opportunities in Japan's beleaguered property market.
Tokyo moved up to the first place after being rated third in the past two years, while Shanghai dropped to fifth from last year's top slot.
