Pilot training programme on primary bond market A pilot training programme on the primary bond market and techniques used in corporate bond issuance in Vietnam opened in Hanoi on October 12. During the three-day programme, co-organised by the Vietnam Bond Market Association (VBMA) and the International Finance Corporation (IFC), the trainees will study the process of issuing corporate bonds under international standards and the bond issuance in Vietnam . The programme will also deal with the development of international debt market and barriers and shortcomings facing the Vietnamese corporate bond market. The training aims to support the development of the primary bond market, improve transparency and professionalism in the market as well as minimise risks to the Vietnamese bond market. After the pilot programme, VBMA will draw up a set of standards on corporate bond issuance techniques and hold the course regularly for its members and those who are about to enter the bond market in the near future. VBMA represents more than 60 banks, securities companies, investment funds, insurance, fund management and financial companies in Vietnam.RoK group invests 900 mln USD in realty in Vietnam Charm Engineering, the Republic of Korea ’s LCD equipments and semiconductors manufacturer, said it is pouring nearly 900 million USD in real estate projects in Vietnam. The company has chosen the Posco E&C as the contractor for its 200 million USD Charm Plaza project in Di An district, the southern province of Binh Duong . Covering a 5-ha area, Charm Plaza will be a complex of about 2,700 apartments, big supermarkets and commercial works. The project is planned to be completed in 2012. According to Jeon Yong Ho, Charm Engineering Co’s marketing director, Charm Engineering is carrying out seven real estate projects in Vietnam. They include the 600 million USD Toc Tien new urban zone on a site of 183 hectares in the southern province of Ba Ria-Vung Tau.Over 100 Vietnamese firms to attend China-ASEAN Expo More than 100 Vietnamese businesses will take part in the seventh China-ASEAN Expo (CAEXPO 2010) scheduled for Oct. 20-24 at the Centre for Conference and Exhibition in Guangxi province, China. About 170 Vietnamese booths at the expo will display agricultural, forestry and fishery products on, processed food, wooden furniture and handicrafts, and introduce projects calling for investment, trade and tourist services, according to the Trade Promotion Department under the Ministry of Industry and Trade. Apart from promoting the Vietnam trademark and exports, the expo will offer opportunities for Vietnamese businesses to access and attract distribution and investment channels, and promote advantages from integrating into the ASEAN-China Free Trade Area. According to the Ministry, two-way trade between Vietnam and China rose from 20-25 percent in recent years. China is first among exporters to Vietnam and ranks third among Vietnam ’s importers. In the first six months of this year, two-way trade between the two countries reached 11.9 billion USD, of which Vietnam ’s exports rose 45 percent to 2.8 billion USD over the same period last year. The two-way trade is expected to reach 25 billion USD for the whole year.VN starts FTA talks with Customs Union members The Free Trade Agreement (FTA) between Vietnam and the Customs Union of Russia, Belarus and Kazakhstan will bring economic, trade, service and investment benefits to all parties. The head of the European Market Department under the Ministry of Industry and Trade, Dang Hoang Hai, made this claim to reporters on the sidelines of the first session of the FTA research group in Hanoi on Oct. 11. The meeting was an important start to allow the parties to implement the next steps for the signing of the agreement, he said. He added that the FTA between Vietnam and the Customs Union of Russia, Belarus and Kazakhstan would open up prospects for a large free trade area and tighten the traditional and strategic relations between them. In his opinion, Russia was interested in FTA with Vietnam as the Southeast Asian country may develop a strategic position that helps Russia restore its presence in Asia, particularly in the Southeast Asia region. The FTA enables Vietnam to boost its agricultural, seafood and garment products to Russia , and Russia to export fertiliser, oil and gas, atomic energy, heavy industry and cars to Vietnam . “We hope the FTA will help improve Vietnam-Russia trade ties,” Hai said, adding that two-way trade between the two countries is expected to reach 3 billion USD in 2011 and 10 billion USD in the near future. In order to boost strategic relations between the two countries, as well as between Vietnam and the Customs Union of Russia, Belarus and Kazakhstan , leaders of Vietnam and Russia agreed to sign an FTA. Following the roadmap, negotiations will cover three main issues of tariffs, service, plus investment and intellectual property.Rice exports up in both quantity and value The Vietnam Food Association (VFA) expects a boost in earnings from rice exports as world demand and prices surge.
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VFA President Truong Thanh Phong said rice exporters have so far this year earned 2.56 billion USD from exporting over 5.5 million tonnes of rice, representing an increase of over 14 percent in value and almost 12 percent in quantity over the previous year. Vietnam is among a few major rice exporters to enjoy such a rosy situation, with Thailand , India and Pakistan suffering a decrease in rice exports. Abnormal climatic conditions caused bad harvests in many countries. Indonesia , for example, had to drop its plan to export rice and was forced to import food instead due to bad harvests. In September alone, the Islamic country imported 300,000 tonnes of rice from Vietnam and 200,000 tonnes from Thailand . Rice reserves in Africa are depleting, pushing the continent towards importing rice. Poor harvests in many republics of the former Soviet Union have inflated world wheat prices and shifted some demand from wheat to rice, causing more pressure on world rice prices, said economists. FOB prices for Vietnamese rice averaged 422.67 USD per tonne in the first nine months of the year, up by 16.43 USD year on year Rice exporters have signed contracts of 6.8 million tonnes against 6.5-6.6 million tonnes previously planned for the whole year. Enterprises are expected to sign contracts for the export of an additional 3 million tonnes of rice and ship another 2 million tonnes in the fourth quarter of the year. As a result, Vietnam is likely to export between 7.2 and 7.5 million tonnes of rice this year, breaking its record of 6 million tonnes in 2009.
Source: VNA