[Vnbiz] Vietnam's export revenue surges in first 9 months

[ONG CHEW SENG ANDRE]

BEST REGARDS FROM ANDRE ONG IN SINGAPORE :
  GOOD NEWS FOR VIET NAM AND SINGAPORE
  VietNamNet Bridge - The Vietnam – Singapore Industrial Park (VSIP) marked its 10th anniversary with a ceremony to initiate the new VSIP II.  
   
  Both Singapore’s Prime Minister Lee Hsien Loong and Vietnam’s Prime Minister Nguyen Tan Dung took the opportunity to recount the great achievements of the two nations’ cooperation.
   
  Encouraged by the success of the original VSIP, the joint venture partners (the Vietnamese State-owned Becamex IDC Corporation and the Singaporean-based SembCorp) have embarked on a second industrial park. 
   
  Measuring 345 hectares, VSIP II is officially launched today with the prime ministers’ best wishes at the ceremony. Twenty-eight international manufacturers from 10 countries have already committed investments worth US$200 million to VSIP II and the first operations will commence by the end of the year.
   
  PM Lee was glad to join the anniversary and the inauguration ceremony. “VSIP and VSIP II are important symbols of the closer friendship and cooperation between the two countries,” said the PM. 
   
  “Singapore has become one of Vietnam’s leading partners and has become one of the largest foreign investors in the country. More Singaporean travelers visit Vietnam these days, while the number of Vietnamese visitors to Singapore has increased by five times over five years ago. We also have over 4,000 Vietnamese students studying in Singapore.”
   
  PM Dung said, “By the end of August, Singaporean investors had invested US$7.8 billion in 425 projects in Vietnam, leading foreign investment in our country. The import-export turnover between the two countries reached US$6.4 billion in 2005 and increased 28% over 2004. The first seven months of 2006 saw over US$4.3 billion in turnover, increasing 60% year on year. 
   
  Singaporean investments are present in most of industries. But they have focused on real estates, infrastructure development of industrial parks, new urban zones, hotels and official leasing. The cooperative relationship has brought economic development for both countries.”
   
  The original VSIP joint venture project is located in Binh Duong Province. The 500-hectare industrial park has 230 international manufacturers from 22 countries with a total investment of more than US$1.4 billion. At present, the 150 factories, such as Avon, Diethelm, Kimberly-Clark, Konica, Nitto Denko, Siemens, Rohto, Unilever and Roche, operate at the park, employing more than 40,000 workers.
   
  VSIP is the only flagship project in infrastructure development functioning as a fully integrated industrial park. It was initiated by the governments of Vietnam and Singapore in 1994 and officially launched in January 1996 with the aim to boost Vietnam’s economy and reinforce the region’s global standing as a stable investment hub.
  

"Phan, Tai" <Tai.Phan at ed.gov> wrote:
  
[Vietnam Business Forum]



Vietnam's export revenue surges in first 9 months 


HANOI (chinaview) -- Vietnam is estimated to gain export earnings of 29.4 billion U.S. dollars in the first nine months of this year, a year-on-year rise of 24.2 percent, according to the country's General Statistics Office on Monday.

Between January and September, items with high export value growth include rubber, up 100 percent to 950 million dollars; coffee, up 35 percent to 788 million dollars; and seafood, up 19.2 percent to 2.3 billion dollars.

During the period, Vietnam is estimated to ship abroad over 4.1 million tons of rice totaling more than 1.1 billion dollars.

Meanwhile, the country is estimated to spend nearly 32.8 billion dollars on importing goods, mainly petroleum products, machinery, steel, fertilizers and automobiles, increasing 19.3 percent over the same period last year.

Vietnam, whose export turnover surged 21.6 percent to 32.2 billion dollars in 2005, can earn nearly 38 billion dollars from exports in 2006, local trade experts predicted.
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