by Trinh Anh Duc
31-7-2001
VND 66,700 billion poured in the development during the first six months of 2001
As much as VND 66,700 billion was estimated to have been poured into development in the first six months of 2001. The figure represents 44.4 percent of the yearly plan. The General Statistic Office says that the investment capital included VND 37,200 billion for the State-owned sector, VND 17,000 billion for the non-State sector, and VND 12,500 billion for the foreign-invested sector. As far as direct foreign investment was concerned, licenses were granted to 200 projects with a combined registered capital of USD 968 million in the first half of the year. They showed year-on-year increases of 29.9 percent and 38.8 percent in the project number and the registered capital, respectively. As of July 2, the exchange rate for one U.S. dollar was VND 14,846.
World Bank to aid urban development
Ho Chi Minh City authorities asked the World Bank to support efforts to build a modern and sustainable urban environment, by improving transport infrastructure and helping to alleviate poverty. The request was made by Le Thanh Hai, chairman of the Ho Chi Minh City People's Committee, at a July 2 meeting with a visiting WB delegation, led by Jamil Kassum, vice president of the World Bank in East Asia. Mr Kassum suggested that the World Bank and Ho Chi Minh City officials discuss plans for an integrated development strategy to deliver a modern sustainable environment. He said that the World Bank favoured the drafting of a development strategy to address both short and long-term needs, which will improve Ho Chi Minh City's international competitiveness. During a meeting with the local business heads on the same day, Mr Kassum confirmed that financial expertise and support will continue to flow, stressing that Vietnam is one of the bank's most important partners in the Asia-Pacific region. The bank will continue to support the private sector through outlets such as the World Bank's Mekong Project Development Facility and the International Finance Co-operation.
Electricity Project Starts in Northern Quang Ninh Province's Rural Areas
Construction work on a VND 67.3-billion project to develop electricity network in rural areas started on July 6, in Hoanh Bo district, northern border Quang Ninh province. As many as 15 communes, including 5 in Hoanh Bo district, will benefit from the project. The project is part of a VND 1,298-billion project to build electricity networks in rural areas, targetting 340 communes in 13 northern provinces. The project is scheduled to be put into use by the end of the second quarter of 2002.
Mekong Delta provinces benefit from ADB-financed USD 35 million project
Nine of 12 provinces in the Mekong delta have benefited from a USD 35 million project financed by the Asian Development Bank (ADB), according to the Ministry of Planning and Investment. The project helped these localities to upgrade transport, irrigation, education and healthcare systems and to fight floods. Thanks to the project, each Mekong Delta province received an additional investment of VND 50 billion (USD 3.4 million) for infrastructure development.
ADB-financed project to upgrade northern border gate to Ha Noi stretch completed
A ceremony was held in Ha Noi on July 28 to review the National Highway 1 upgrade project, the section from Friendship Gate on the Chinese border in Lang Son province to Ha Noi. The 160-km section runs across Ha Noi northwards through Bac Ninh, Bac Giang, and Lang Son provinces. More than 80 percent of the section were newly built.
Of the USD 162.45 million construction cost, USD 120 million came from the Asian Development Bank's loans and the rest was financed by the State budget.
The road section was opened to traffic in early February after three years' construction. With the completion of the upgrade, the drive from Ha Noi to Lang Son now only takes two hours, half the time it took previously. Though the first phase of the project has been finished, the Government and the ADB agreed to add to it some more jobs, including construction of a four-lane road from Ha Noi to Bac Ninh, thus upgrading the section into an express way with seven flyovers. The additional works are expected to be completed late in 2001 or early the following year.
Industrial production value up 14.2%
Vietnam's industrial production value reached VND 133,646 billion (US $9,030 million) in the first seven months of 2001, a year-on-year increase of 14.2% according to the General Department of Statistics. Of this figure, State-run enterprises contributed VND 54,658 billion (US $3,693 million), an 11.5% year-on-year increase; non-State enterprises, VND 30,837 billion (US $2,083 million), an 18.3% year-on-year increase; and foreign-invested enterprises, VND 48,151 billion (US $3,253 million), a year-on-year increase of 15%.
Almost all provinces and cities having large-scale industrial production obtained a growth rate of more than 10% as compared to the same period last year. They included southern Binh Duong province (up 31.9%), northern Vinh Phuc province (21.2%), central coastal Khanh Hoa province (20.8%), northern border Quang Ninh province (17.7%) and the Mekong river delta province of Can Tho (19.3%).