Bosch expands operations in Vietnam

The world’s leading technology and services supplier Bosch has announced that it will continue expanding its operations in Vietnam following success in 2012.

Last year, the German group’s global sales reached US$68.3 billion (up 1.9 percent against 2011), with Asian sales fetching US$16.4 billion. 

In Southeast Asia alone, its revenue was US$912.6 million, of which US$286.4 million came from the Vietnamese market, up 31.3 percent.

At a press briefing in HCM City on June 26, Vo Quang Hue, Managing Director of Bosch Vietnam, said Bosch is the largest European investor in Vietnam, with its facilities operating in Hanoi, HCM City, Danang and Dong Nai. 

Sales of its products last year saw growth rates of between 14 and 40 percent, making Vietnam the group’s second key market in Southeast Asia. 

Bosch considers Vietnam as its strategic investment destination in Southeast Asia, said Hue. 

Despite the impact of the global economic recession, the number of the groups employees increased 36 percent in 2012 to 1,200. 

In 2013, Hue said Bosch Vietnam will market new products and solutions and open new distribution networks across the country. 

In the next 3-4 years, Bosch Vietnam is planning to hire up to 500 research and development engineers.

In the future, the group will help build vocational training centres meeting German standards, to supply human resources to the company.

Source: VOV on June, 26, 2013

Hochiminh City holds Spanish Culture Week

Poster of the movie “Mujeres al borde de un ataque de nervios” which will be screened at the event

Photo: Tuoi Tre

The Spanish Cultural Week is being held in Ho Chi Minh City from November 19 to 25 to mark the 35th anniversary of Vietnam-Spain diplomatic relations.

From November 19 to 23, the event is screening a number of famous Spanish movies including “Mujeres al borde de un ataque de nervios” (Women On The Verge of A Nervous Breakdown), “La Lenguade las mariposas” (Butterfly’s Tounge), “Los lunes al Sol” (Mondays in the Sun), “Muerte de un ciclista” (Death of a Cyclist ), and “El Orfanato” ( The Orphanage) at the Fafilm Cinema at 6 Thai Van Lung Street in District 1.

Under the plan, the culture week will also feature a photo exhibition introducing Spain and its people at 120 Nguyen Thi Minh Khai Street in District 3, from November 21 to 25, as well as a guitar night at 7pm on November 21 at the city’s Opera House with performances from guitarist Hang Nguyen and pianist Ly Giai Hoa.

Source: Tuoi Tre

Viet Nam embraces wind power

A view of Wind Power Plant No 1 in Tuy Phong District in the southern central province of Binh Thuan. Wind power has a growing role in Viet Nam's energy market. — VNA/VNS Photo Ngoc Ha

HA NOI (VNS- November, 09 2012 11:23:14)— As an experienced country in wind power development, Denmark was willing to share knowledge and technology with Viet Nam and help tap the country's huge potential for this form of renewable energy, said Danish Minister of Climate, Energy and Building Martin Lidegaard. 

Speaking at a partnership seminar between the two countries yesterday, he emphasised the growing role of wind power in the energy market and its contribution to reducing green house gases and creating jobs, as shown by Denmark's experiences.

Deputy Minister of Industry and Trade Le Duong Quang said that Viet Nam was targeting to increase the proportion of renewable power from 3.5 per cent in 2010 to 4.5 per cent in 2020 and 6 per cent in 2030.

It had already offered investors incentives including import tax exemption for equipment that wasn't produced locally, corporate income tax breaks, and no land use or environmental protection fees.

He appreciated Danish aid to Viet Nam aimed at mitigating and responding to the impacts of climate change, as well as renewable energy projects including one in the central province of Binh Thuan.

Also yesterday, Vestas – a Danish wind turbine manufacturer – and its Vietnamese partner Cong Ly Construction, Trading, Tourism Company based in the southern province of Bac Lieu signed a partnership agreement to develop wind farms in Viet Nam.

Feasibility studies would be conducted and finished by the end of this year

.

Senior director of Vestas Asia-Pacific and China Naveen Raghavan Balachandran said that Viet Nam was a market with excellent fundamentals for wind power including economic growth, a favourable energy mix, abundant wind resources and an emerging wind power policy.

However, he pointed out challenges including a lack of detailed wind studies and its compatibility with infrastructure, and the limited capitalisation of local banks which meant reliance on international banks, resulting in a high cost of capital to compensate for market and sovereign risks.

Moreover, the country's current wind feed-in-tariff was not high enough to enable projects to become financially viable, he said. 

Source: VNS

Finland to include Da Nang in innovation programme

DA NANG — The central city will be included as a partner in the second phase of the Innovation Partnership Programme (IPP) in Viet Nam between 2012-16, the Finish ambassador to Viet Nam, Kimmo Lahdevirta, told the city's administration.

IPP, which is an Official Development Assistance (ODA) programme financed by the governments of Viet Nam and Finland, aims to strengthen Viet Nam's National Innovation System (NIS).

The first phase of the programme was launched in 2009 in the eight cities and provinces of Ha Noi, Hai Phong, Da Nang, Thua Thien-Hue, HCM City, Can Tho, Lam Dong and An Giang.

The ambassador also said many hi-tech businesses from Finland have been seeking investment opportunities in Viet Nam, and Da Nang was seen as a potential location for investment. 

Source: VNS

European Council delighted with pace of Viet Nam trade relations

President Truong Tan Sang (right) receives EC President Herman Van Rompuy yesterday in Ha Noi. — VNA/VNS Photo Nguyen Khang

HA NOI (VNS)— Both Viet Nam and the European Council (EC) have declared themselves pleased with the rapid and positive development of bilateral relations in the areas of trade, politics and co-operation over recent years.

The remarks were made in speeches delivered by President Truong Tan Sang and the EC President Herman Van Rompuy in Ha Noi yesterday.

During the talks the two sides agreed to exchange delegations more regularly, and discussed ways of creating and encouraging more favourable conditions for Vietnamese and EU businesses to make long-time investment in each other's markets.

The EU pledged to provide Viet Nam with technical assistance and to step up negotiations to complete the signing of their Free Trade Agreement. They also agreed to formally recognise the status of Viet Nam's market economy as soon as possible.

Viet Nam asked the EU to maintain the Generalised System of Preferences (GSP) for the country in the 2013-2015 period, and prioritise the implementation of the Mutual Recognition Agreement.

It also thanked the EU and its member countries for providing Viet Nam with official development assistance over many years. The two sides agreed to closely co-ordinate in the near future to effectively implement ODA programmes which will focus on poverty reduction, sustainable development, environmental protection and climate change adaptation.

They reached a consensus on intensifying dialogue and co-operation at regional and international forums, especially those within the framework of the United Nations and the Asia-Europe Meeting.

Viet Nam praised the EU's contributions to the establishment of the ASEAN Community, and its commitment to helping ASEAN become an important core in East Asia.

With its role as a co-ordinator for ASEAN-EU relations in the 2012-2015 period, Viet Nam will try its best to promote this relationship, Sang said.

The two sides also supported efforts to build Southeast Asia into a region of peace, stability, co-operation and friendship, stressing the need to ensure maritime security, safety and freedom in the East Sea.

A contract was signed worth 150-million-EUR (US$195 million), funded by the European Investment Bank, to finance investments fighting climate change, and a statement was made on the signing of the EU Multilateral Trade Assistance Project.

Party, Gov't leaders

The same day, Party General Secretary Nguyen Phu Trong and Prime Minister Nguyen Tan Dung also met with the visiting European Council President.

During the meeting, Party leader Trong spoke highly of the effectiveness of EU's co-operation and assistance to Viet Nam as well as its pledge for further assistance to the country until 2020.

Viet Nam hopes the EU will intensify and expand multifaceted co-operation in the fields where the two sides share strengths, Trong said.

For his part, Rompuy said the EU will maintain its assistance to Viet Nam as well as support the country's sustainable development, institutional reform and human resources development, and encourage European businesses to increase investment in Viet Nam.

The EU hopes to be a partner of Viet Nam not only in economics and trade but also in politics, he said, adding that the union also supports the settlement of marine disputes through peaceful measures on the basis of the international law.

At his reception for President Rompuy, Prime Minister Dung said that there is huge potential for co-operation between the two sides.

He also suggested both sides further enhance economic, trade, investment and tourism co-operation.

Viet Nam is improving its business environment and always welcomes and creates favourable conditions for EU investors in the country, he said.

Dung added that the two sides should continue to work closely during the first round of negotiations of the Free Trade Agreement, and for implementing the Partnership and Co-operation Agreement.

While asking the EU for early recognition of Viet Nam's market economy status, Dung expressed his hope that the union will keep providing ODA to Viet Nam in building infrastructure, human resources training and coping with the impact of climate change and rising sea levels. — VNS

Source: Việt Nam News