HA NOI

The People’s Committee of central Ha Tinh Province granted three investment licences for new operations at the Vung Ang Economic Zone.

Two South Korean firms, Vision Land Co Ltd and Humantech Co, received licences and will bring more than US$50 million in investment capital in their first stage.

Addition of these two new projects will bring total foreign direct investment (FDI) projects in the Vung Ang zone up to 60, with a combined investment capital of more than VND180 trillion ($9.5 billion), according to the zone’s website.

The third licence was granted to the HCM City Trade and Production Company.

The zone was expected to lure FDI firms this year from a wide range of sectors, including manufacturing, trade, vocational training schools, services, particularly port services, said Vo Kim Cu, deputy head of the provincial People’s Committee and director of the economic zone’s management board.

A granting ceremony was held last week by the zone’s management board and Human Tech E&C Co in HCM City, which was also used as an investment promotion seminar.

The event attracted 150 participants from South Korea, Taiwan, India and other countries and territories.

Vung Ang was founded in 2006 under a Government decision. It was built on a total area of 22.780ha with competitive advantages in the fields of trade, services, eco-tourism and resorts.

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HA NOI

The United States government has agreed to collaborate in building a safe nuclear power plant in Viet Nam.

A memorandum of understanding was signed yesterday by Vietnamese deputy Minister of Science and Technology Le Dinh Tien and US Ambassador to Viet Nam Michael Michalak.

The memorandum provides for collaboration in training, infrastructure, security and safety, fuel sourcing and fuel and waste management.

Speaking at the signing ceremony, Tien said the Vietnamese Government had a consistent policy of using nuclear power safely and securely for peaceful purposes.

Michalak said the memorandum was neccessary to develop a nuclear power plant for peaceful civil use in Viet Nam.

This year is the 15th anniversary of the two countries’ normal relationship.

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BINH DUONG

Journalists based in the south yesterday began a two-day training course and forum on reporting and writing about the health hazards caused by tobacco use.

Associate Professor Nguyen Duc Dung, lecturer at the Academy of Journalism and Communication, officials from the Ministry of Health, and WHO experts are among the trainers at the course organised by the Viet Nam Steering Committee on Smoking and Health and International Union Against Tuberculosis and Lung Disease.

A survey by the organiser found that all 60 reporters who were interviewed clearly knew about the bad consequences of smoking but only half knew about the economic consequences like the cost of treating health problems caused by tobacco and death and diability of skilled workers.

Many did not know much about the Government’s policies on the prevention of tobacco use by the public.

Most of the reporters agreed that smoking could be curtailed if tobacco smuggling was stopped.

"It is a good sign for the campaign to prevent smoking that journalists are aware of the ills caused by smoking," Dung said.

He and the attending journalists analysed several articles carried in the media and discussed their good and bad aspects.

Dung said the media had not carried many stories on preventing smoking recently and hoped more would be carried in future.

Delegates at the programme, held to support a Government decree that bans smoking in public starting on January 1, called for tightening control over tobacco production and consumption.

According to the organisers, Vietnamese journalists will get grants to attend the Asia-Pacific Conference on Tobacco and Health, or APACT, 2010 in Sydney, Australia in October this year.

They will be chosen based on a tobacco control story-writing contest to be held in Ha Noi on May 5 and 6.

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HCM CITY

Viva Macau Airlines announced on Monday delays and cancellations of flights on international routes including its HCM City and Ha Noi services.

The Macau-based low-cost carrier said all flights between Macau and Ha Noi had been cancelled from March 27, and the Macau ¨C HCM City flights cancelled from March 28 to April 1.

Viva Macau attributed the delays and cancellations to its "inability to reach an agreement with the sole fuel supplier in Macau."

The airlines said in a press release that its shareholders had offered credit guarantees to the supplier, but "no agreement could be reached and therefore flights were stopped unexpectedly".

It said it was "deeply surprised to learn that our AOC (Air Operating Certificate) was revoked without any prior notice".

Airlines staff and representatives had been assisting affected passengers and actively communicating with all parties involved to come up with a solution, the release said.

In addition to HCM City and Ha Noi services, the termination of AOC affected flights to other destinations including Tokyo, Sydney, Melbourne and Jakarta.

Thirty-three flights have been cancelled, affecting 4,739 passengers.

The carrier has been in active contact with passengers and providing refunds in accordance with its "Conditions of Carriage."

Before the cancellation, Viva Macau was operating a daily service to HCM City and three weekly flights to Ha Noi.

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The State Bank of Viet Nam issued Circular No 09/2010/TT-NHNN on March 26, regulating the establishment of commercial banks.

The new regulation provides that founding shareholders may not contribute authorised capital in the form of loans and will be held responsible for the legality of the contribution. Founding shareholders are subject to strict financial capacity requirements and must be an enterprise duly established under the Law on Enterprises or a Vietnamese citizen not prohibited under Article 13.2 of the Law on Enterprises. Commercial banks must have at least 100 shareholders, at least three of which are enterprises that have operated for at least five years, have capital of at least VND500 billion (US$26.32 million) for five consecutive years prior to the year of the application to establish the commercial bank. A bank serving as a founding shareholder of another bank must have assets of at least VND50 trillion ($2.63 billion).

The decree takes place 45 days after its issuance.

Minimum wage increases

The Government issued Decree No 28/2010/ND-CP on March 25, governing the minimum wage. Effective May 1, 2010, the minimum wage will be increased from VND650,000 to VND730,000 per month.

The new minimum wage will apply to State employees, armed forces units, social and political organisations; Stated-owned enterprises and limited liability companies with the State as the sole member.

The new decree places Decree No 33/2009/ND-CP of April 2009 and Clause 1, Article 3 of Decree No 97/2009/ND-CP of October 2009.

Special control over credit institutions

The State Bank of Viet Nam issued Circular No 08/2010/TT-NHNN on March 22 on special control over credit institutions. Under the new regulation, the Governor of the State Bank shall consider and make decisions on imposing special control over a credit institution facing insolvency, bankruptcy, or a cumulative loss of more than 50 per cent of total of charter capital and funds. Special control can last for up to two years. During such period, without the State Bank’s approval, the credit institution is prohibited from issuing dividends or allowing the chairman, members of the board of management and audit committee and the general director to transfer shares or to pledge, mortgage or transfer assets or valuable papers of such institution. The circular takes effect on May 6.

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