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Waste treatment plant sold at low price to tackle debt By Trung Chanh Phuong Thao waste treatment plant has been sold for over VND150 billion to pay off its debt to Vietnam Development Bank, while its initial investment amounted to VND250 billion – PHOTO: TRUNG CHANH CAN THO – The Phuong Thao waste treatment plant in the Mekong Delta province of Vinh Long has been transferred to a new investor at a mere VND152.2 billion to pay off its debt, after its operations were suspended several times. A company in the province bought the plant at the given price (excluding taxes), which is nearly VND100 billion lower than the plant’s initial investment of VND250 billion announced in 2009, according to Nguyen Duc Tam, director of Vietnam Development Bank’s (VDB’s) Can Tho Branch. Tam on January 7 told the Saigon Times that the plant would be sold to pay off the bank loans taken by the plant’s owner. Also, under the direction of the provincial government, the plant was … [Read more...] about Waste treatment plant sold at low price to tackle debt

Half-done buildings in Vung Tau to be sold The Saigon Times Daily The HH1 apartment buildings are located on Nguyen Thai Hoc Street, Ward 7 in Vung Tau City. The long abandoned buildings valued at VND1 trillion are now being sold - PHOTO: PLO HCMC – A long-abandoned high-rise apartment project valued at VND1 trillion on Nguyen Thai Hoc Street in Vung Tau City is now being sold, heard attendees at a meeting chaired by Le Tuan Quoc, Ba Ria-Vung Tau Province’s vice chairman, on September 17. Speaking at the meeting to present solutions for handling the HH1 apartment buildings, a representative of the Vietnamese-Russian joint venture Vietsovpetro, the main investor in the project, noted that the firm would return the project’s land to the province and requested a refund of its investment in its construction. According to the appraisal by Vietsovpetro, the total value of the partly-constructed project is US$43 million, or VND1 trillion, the local media reported. The … [Read more...] about Half-done buildings in Vung Tau to be sold

HA NOI (VNS) — Chinese stickers containing phthalates – a group of toxic chemicals believed to be harmful to human health – are still being sold by street vendors and toy stores near primary schools in Ha Noi despite warnings from local agencies. The sticks are priced at VND3,000-20,000 (10-90 cents) per set. According to scientists, phthalates are additives that give plastics like polyvinyl chloride (PVC) properties such as flexibility and stress resistance. Six phthalates are commonly used, but one type known as DEHP has received the most regulatory and scientific attention due to evidence demonstrating its testosterone-blocking potential in males. Phthalates have also been linked to early puberty in girls. A student of Quang Trung Primary School, holding a set of sticker in her hands, said she exchanged a paper milk bottle for a set of Pikachu stickers (a popular Pokemon game character) at a street vendor near her school's gate. Nguyen Thu Huong, of Bach Mai Street, said she … [Read more...] about Toxic sticker sets sold near schools

Twenty pine trees were cut down in an area of more than 1,000sq.m. — Photo thanhnien.vn Viet Nam News LÂM ĐỒNG — Đà Lạt City officials, on Friday, began an investigation into the deforestation in Commune 12’s subzone 151. Two suspects being investigated are 36-year-old Đoàn Văn Dũng from Đồng Nai Province and 31-year-old Nguyễn Văn Ngọc from Thái Bình Province. Dũng said he hired Ngọc and five others to cut down 20 pine trees in order to sell vacant land at VNĐ200 million (US$8,800) per 1,000sq.m. Those pine trees were then cut into small pieces and burnt. The destroyed forest is located near the national road connecting Đà Lạt City with Nha Trang City. Võ Thanh Sơn, head of Đà Lạt City Forest Rangers, said that they inspected the area on Wednesday and have collaborated with Đà Lạt City Police to conduct the investigation. Lâm Đồng Province People’s Committee allocated the pine forest to Đoàn Văn Dũng’s family to build the Cát Minh Ecotourism area. Since they are … [Read more...] about Pine forest cut down, sold as vacant land

Police in the southern province of Tây Ninh inspect the gas storehouse of Thái Dương Manufacturing-Trading Ltd Co. The sale of low quality gas and illegal extraction is a common occurrence, posing dangers to the health and rights of consumers. — VNA/VNS Photo Lê Đức Hoảnh Viet Nam News HÀ NỘI — The trading of low quality gas, illegal extraction and failure to ensure the safety continue posing dangers to the health and rights of consumers. Some gas trading firms illegally take gas cylinder shells from other companies, then remove the label on the tank and attach their own to sell to consumers, Kinh tế & Đô thị (Economic and Urban Affairs) newspaper reported. A representative from the Market Management Department under the Ministry of Industry and Trade recently said that unhealthy competition in the trade of liquefied petroleum gas (LPG) has remained and destabilised the market, affecting the interests of consumers, organisations and individuals with legitimate trading … [Read more...] about Gas trading violations affects businesses and consumers

Fuel prices lowered today The Saigon Times Daily Local consumers wait for their motorbikes to be refilled at a gas station in this file photo. Fuel prices on the local market dropped today - PHOTO: VNA HCMC - Retail fuel prices on the local market are down today, January 1, by VND515 to VND1,092 per liter or kilogram, the local media reported, citing a statement jointly issued by the ministries of Industry and Trade and Finance. The price of bio-fuel E5 RON92 petrol decreased by VND515 per liter to VND16,272, while higher-grade RON95-III gasoline dropped VND538 per liter at VND17,603. Diesel oil saw the highest reduction in price, dropping VND1,902 per liter, with the current ceiling price of VND14,909, while kerosene is priced at VND14,185 per liter, falling VND818. Also, heavy fuel oil 3.5S fell by VND733 per kilogram to VND13,275. During the first fuel price adjustment of 2019, the extraction rate applied to the bio-fuel E5 RON92 … [Read more...] about Fuel prices lowered today

EC’s yellow card on Vietnamese seafood likely to be extended By Trung Chanh Seafood products are sold at a supermarket. Vietnam may have to wait three more months before the yellow card on seafood is lifted - PHOTO: TRUNG CHANH CAN THO – The European Commission (EC) may send a working team to Vietnam in April instead of this month to review the country’s efforts to have the yellow card on its seafood products lifted, said Nguyen Ngoc Oai, acting general director of the Directorate of Fisheries, under the Ministry of Agriculture and Rural Development. The working team had earlier scheduled a visit to the country this month to present its feedback on Vietnam’s settlement of issues related to the EC’s yellow card warning against the country’s inadequate actions in handling illegal, unreported and unregulated (IUU) fishing. However, some seafood farming, processing and exporting units have yet to become aware of the EC’s warning extension. Truong Dinh Hoe, general … [Read more...] about EC’s yellow card on Vietnamese seafood likely to be extended

Investors flock to sell SAB shares By Phuong Thao HCMC – Investors heavily sold shares of beverage enterprise SAB today, January 2, following an announcement by the HCMC Tax Department that the firm must pay VND3.14 trillion in special consumption tax and fines, thus pushing the local stock market down for the second straight session. SAB early this week objected the decision, saying that the decision goes against the 2006 Law on Tax Administration. Earlier, on December 30, it sent a document to the State Securities Commission and the Hochiminh Stock Exchange stating that the HCMC Tax Department had sought the amount from the firm on December 28. Closing the session, SAB plunged to the floor price of VND248,800. The stock reported poor transaction with just nearly 47,000 shares traded. Other blue chips on the market also decreased, causing the VN-Index of the Hochiminh Stock Exchange to ebb a modest 0.79 point, or 0.09%, versus last Friday at 891.75. Market turnover … [Read more...] about Investors flock to sell SAB shares

Stocks tumble to 14-month low By Phuong Thao HCMC – With the number of falling stocks 4-fold bigger than that of rising ones, the VN-Index of the Hochiminh Stock Exchange plunged to below the strong psychological supporting line of 880 points today, January 3, and marked the lowest since November 2017. Up to 223 stocks on the southern market closed the session in the red territory while only 43 others managed to advance. The main index extended its losing streak to the third consecutive session, losing a hefty 13.53 points, or 1.52%, versus the previous day at 878.22. Market turnover improved nicely given massive selloffs in the afternoon phase, with volume and value adding 40% and 27% at 156.5 million shares worth VND3.4 trillion, respectively. Of the figures, there were 21.4 million shares valued at VND862 billion traded in block deals. According to securities enterprises, market outlook has turned negative as the VN-Index lost its strong supporting level of 880 points. … [Read more...] about Stocks tumble to 14-month low

Inflation below 4% feasible: experts The Saigon Times Daily Shoes are sold at a market in HCMC. Experts are confident that the country can achieve its target of keeping inflation below 4% this year - PHOTO: THANH HOA HCMC – Despite the adverse fluctuations of the global economy, Vietnam can achieve its target of keeping inflation below 4% this year, Vietnam News Agency reported, citing economic experts at a seminar, titled “Developments of the market, prices in Vietnam in 2018 and prospects for 2019,” held in Hanoi today, January 3. Nguyen Ba Minh, rector of the Institute of Economics and Finance of the Academy of Finance, stated that the world’s economic growth last year was slower than in the previous year. Vietnam also faced multiple difficulties, such as the United States’ higher import duties on some Vietnamese products and the slow capital disbursement of public investment projects. However, the world’s oil price plunged from US$70 to US$50 per barrel in the … [Read more...] about Inflation below 4% feasible: experts