“Corruptible” positions must see periodic rotation

16:35' 13/06/2007 (GMT+7)

VietNamNet Bridge – Officials working in the areas of customs, banking, inspection, finance, auditing, taxation, traffic and economic police, immigration and market control, import-export, equitisation administration agencies and those involved in licencing activities must be rotated periodically. The government yesterday, June 12, made public a draft decree on the positions and working durations of state officials for public comment. According to the draft, many posts in state agencies from which corruption may be committed easily must be rotated periodically. The document points out 22 areas in which officials at certain positions must be rotated periodically, for example, those related to finance, state budget and state asset management, customs activities, taxation, the national treasury, bank licencing, forex activities, banking inspection, loan assessment. Officials involved in certificate and licence management and granting operations are also subjects of this draft decree. In addition, some kinds of police such as traffic, justice, inspection, economics, logistics are also on the above list. The draft decree says that periodical rotation of positions of state officials on the above list is a compulsory task. All state employees who don’t hold management positions, work at ministries and People’s Committees at all levels, government agencies, political and social organisations at the district level upwards, state administrative agencies, state-owned economic groups and companies are also subjects for position rotation. The time for rotation is three years for state employees who deal with professional tasks and two years for those directly involved in tasks related to the interests of citizens and organisations. The document says that the rotation must ensure objectivity and must be suitable to the professional skills of the rotated officials. Taking advantage of the rules on periodical rotation of the positions of state officials to serve personal interests or to bully them is banned. (Source: chinhphu.vn, Tien phong)

BMW to come back to Vietnam in July

BMW to come back to Vietnam in July 16:46' 13/06/2007 (GMT+7) VietNamNet Bridge – It is expected that in early July 2007, five BMW 2007 models will appear on the domestic market. BMW’s cars will be distributed in Vietnam by authorised distributors. The five models will include the luxury sedan 7 series and the multi-purpose vehicles (MPV) X5. It remains unclear who will be the authorised official distributors of BMW cars in Vietnam. It is said that the distributors still have to complete several other procedures before presenting themselves before the public in July, when they will introduce the imported models manufactured by Germany’s BMW. In Vietnam, BMW has been one of the two most favourite brand names. However, the German automobile manufacturer was not successful with its plan to assemble cars in Vietnam to sell domestically in the VMC joint venture. VMW decided to withdraw from the joint venture. However, finding Vietnam a market with potential, the automobile manufacturer has decided to come back to Vietnam, but in another way: selling foreign-made cars through a new distributor. Two days ago, Japanese automobile manufacturer Daihatsu also announced it would withdraw from its joint venture in Vietnam. People think that the Japanese company may seek another Vietnamese partner and set up a new legal entity. To date, X5 and 7 series models have been imported to Vietnam, but just in small quantities. Analysts said that the domestic car market would see big changes once foreign made BMW cars were imported. Though being a small car market, the purchasing power in Vietnam is very encouraging. Especially, Vietnamese connoisseurs are now tending to use luxury models. Cadillac, Porsche, Audi, Bentley, Lamborghini and Maybach cars all have appeared in Vietnam. Imported cars prove to sell very well in Vietnam. That explains why several automobile manufacturers in Vietnam have decided to import cars to sell domestically together with the models they assemble themselves. Truong Hai Automobile Company, for example, has reported that it sold 3,500 imported units in May 2007 alone. The manufacturer plans to assemble the Kia Morning to sell on the domestic market as the imported Kia Mornings have sold very well in Vietnam. In related news, AutoTech 2007, one of the four biggest automobile and motorbike exhibitions in Vietnam, will take place in Hanoi from June 22-25. (Source: TBKTVN)

Message of Love

13:18' 13/06/2007 (GMT+7)

VietNamNet Bridge - Since Nguyen Thi Hien was a child, she was known as an infant prodigy in the painting field, winning first prize six times at the national children fine arts exhibitions. Being the eldest daughter of famous Vietnamese writer Kim Lan, Nguyen Thi Hien, born in 1946, had many chances to meet famous artists, particularly masters of Vietnam’s painting. Graduating from the Hanoi Fine Arts University in 1967, she participated in several exhibitions and she captured many prizes which helped affirm her talent and position in the artistic circle. Between 1968 and 2004, Hien participated in about 40 group exhibitions and was presented with dozens of noble awards both at home and aboard. “When looking at her paintings, viewers find it easy to realize her expertise in technique, diversity in style and sensitivity in using colours. In any theme, traditional or modern, still-life or portrait – her forte – and despite being painted in the traditional and cubic or free style with glistening colour dots which remind viewers of paintings by famous painters Sislei and Picasso, her paintings always show messages of passionate love,” said Duong Tuong who is a painter, poet and translator. Hien herself also admitted that she is a painter of multi-styles. For her, the technique or materials only serves as a means to help convey her perceptions about life, happiness and fates of women. At her two private exhibitions entitled “The Flow”, viewers can see the harmony and tones in the talented artist’s paintings which show nuances of human sentiments, preoccupations of a poor life and marvels of incarnation. Via the works, the painter wishes to show a message: “I want to be a flow, running all the time and running through life to look for living sprouts in multi-forms and I also want to discover the flow of myself. This life is very short and precious so we should respect the life of ourselves and everything around us”. Coming to “The Flow” exhibition, viewers will enjoy the sweetness which has been filtered by painter Nguyen Thi Hien for over 50 years. At present, some of her works are preserved at Vietnam Museum and many private collections both at home and abroad. "Cylindrical Drum" - Lacquer "Circus" - oil David and Wolifson (Australian visitors) are watching the work "Living Sprouts" "Mothers carry children on their backs" Lacquer (Source: Vietnam Net)

Mix business and pleasure

13:13' 13/06/2007 (GMT+7)

VietNamNet Bridge - Members of Amadeus group are heading to Yen Tu Mountain in Quang Ninh province for their annual Board of Directors' Meeting, but as it's just a stone's throw from Halong Bay, it's the perfect chance to have some leisure time before getting down to business. Vietnam is fast becoming a place for all kinds of tourism activities. As a global company which provides new and effective distribution channels to travel services, acting as a bridge between travel services, travel agents and service users, Amadeus believes Vietnam has ample qualities to bill itself as a prime destination for MICE (Meetings, Incentives, Conferences and Exhibitions). Of course, the Amadeus team has to check this out for themselves so after making their way from Hanoi, the delegation boards a Halong junk which sets off, meandering through the beautiful islets, so all and sundry can enjoy the cool breeze and sunshine away from the traffic congestion, polluted air and heaving crowds of Hanoi during summer. "It is really amazing floating around the spectacular landscape of Halong Bay. How wonderful it is," says Carlos Romero, Vice President of Amadeus Asia Pacific. After a lunch fit for a Roman Emperor all eyes move towards the peaceful coves in limestone islets where the blue waters wash upon white-sanded beaches. The junk lowers the anchor by Bo Hon island where Sung Sot (which means surprise) cave can be found. The main `surprise' inside the I0,OOOsqmcave is the innumerable amount of stalactites and stalagmites. The interior is as large and imposing as a palace. Next stop is Titov island "The island was named after a visiting Russian Astronaut Giecman Titov in 1962 by late President Ho Chi Minh. Its old name was Cat Nang (meaning Sun and Sand)," says Tuan, a guide from Transviet Travel Group, Amadeus' local partner. While some team members enjoy a dip in the ocean others try their hand at kayaking. For those looking for a worthwhile walk, a quick hike to the summit of Titov offers a sweeping view of the bay. More of a surprise than Sung Sot cave is the gala dinner that awaits guests in Trong cave. Hundreds of candles are lit while Spanish and Vietnamese melodies fill the air. "It's really a dream for me. It's unbelievable," says David Brett, also a Vice President of Amadeus Asia Pacific. "This time in Vietnam, besides our meeting, we want to carry out a survey of new destinations and we all agree that Vietnam is very suitable for MICE," says Brett. The next day the party heads to the sacred site of Yen Tu mountain in the early morning. Before the meeting, the group takes a cable car a third of the way up the mountain, as far as Hoa Yen pagoda, before continuing to the summit by foot. With bamboo sticks the team members happily traipse up the hillside. Gongs from a pagoda bell can be heard. Mist covers the stone paths and slopes. Looking at these happy pilgrims, it's hard to believe they're off to a board meeting. (Source: Timeout)

Too many urea plants creating surplus: VFA

08:07' 13/06/2007 (GMT+7)

VietNamNet Bridge – The Vietnam Fertiliser Association (VFA) has warned that the excess of steel due to too many steel mills may be repeated in urea production. According to VFA, Vietnam needs 1.7mil tonnes of urea a year in total. Every year, the Phu My Fertiliser Plant can provide 800,000 tonnes. Another 800,000 tonnes will be provided by the Ca Mau Fertiliser Plant in three years, enough to meet domestic demand. However, more urea plants are still being built, which may lead to the excess of urea and investment waste. Demand for urea decreasing Many years ago, urea was considered a very important kind of fertiliser, but the situation is quite different now. High urea prices make agricultural production costs higher, and farmers now tend to use other inorganic types of fertiliser, which are environmentally friendly and can bring high economic efficiency. Statistics provided by VFA showed that five years ago the total demand for urea was 1.5-2.7mil tonnes a year, but the figure has dropped to 1.7mil tonnes. Cultivation area has been narrowed as a result of urbanisation, while there are many more types of fertiliser for farmers to choose from. The Phu My Fertiliser Plant has the designed capacity of 700,000 tonnes a year, while the Ha Bac plant has the capacity of 150,000 tonnes a year. In normal conditions, the two plants can provide 800,000 tonnes a year to the market. Currently, Vietnam imports 800,000 tonnes a year. In the past, Vietnamese enterprises imported urea from the Ukraine, Russia or the Gulf, but now they import from China – a supply source that can provide the product at very competitive prices. Excessive urea will be exported? Vietnam will still need to import urea for three more years, but after that domestic production capacity will be big enough to meet domestic demand. In addition to the two said plants, the Ca Mau Fertiliser Plant will provide 800,000 tonnes a year in three years. Two other plants, including the 560,000 tonne/year coal-run Ninh Binh Fertiliser Plant and the Ha Bac expanded project, will also become operational in some years. The Ha Bac expanded plant will have the capacity of 300-320,000 tonnes a year. If everything goes as planned, the total fertiliser productivity may reach 2.380mil tonnes a year, much higher than the total demand. The productivity may even be higher if the Ca Mau or Phu My plants expand their scale of production. Experts have said that Vietnam may think of exporting the excess volume. However, the question is, can made-in-Vietnam products compete in the world’s market against ones from the Middle East or Russia? VFA’s experts have recalled the story of investment in steel mills. Several years ago, 50% of the demand for steel was fed by imports. But just several years later, the total capacity of domestic steel mills had doubled total demand. Meanwhile, it is very difficult to export steel. The Southern Steel Corporation has successfully exported a consignment of steel to the US recently. Prior to that, Vietnam-made products had only been exported to Laos and Cambodia. But exports remain modest. (Source: TBKTVN)

ASEAN looks to bridge development gap

10:43' 13/06/2007 (GMT+7)

VietNamNet Bridge – The second Initiative for the ASEAN Integration (IAI) Development Cooperation Forum kicked off in Hanoi on June 12, aimed at narrowing the development gap between ASEAN's original members and the more recent additions to the regional bloc. Speaking to delegates from ASEAN member countries, ASEAN Secretariat, and international organisations, the current chairman of the IAI Task Force, Lao Deputy Prime Minister Thongloun Sisoulith said that to achieve the "ASEAN Community" by 2015, the grouping would give priority to assisting new members, namely Cambodia, Laos, Myanmar and Vietnam (CLMV). Deputy PM Sisoulith, who is also Lao Foreign Minister, said the decision is an ASEAN strategic objective that would bring benefits to the region and would reflect ASEAN’s firm commitment to promote and maintain peace and stability in the region. Addressing the two-day forum, entitled “Towards developing new strategies for narrowing the development gap in ASEAN,” Vietnamese Deputy Prime Minister and Foreign Minister Pham Gia Khiem said that the implementation of the IAI had significantly progressed over the past few years, particularly in terms of human resources development, capacity building and regional integration. However, Deputy PM Khiem said, the rich-poor divide within ASEAN remains wide and more work is needed to assist CLMV in fully integrating into the mainstream of ASEAN development. According to the Vietnamese Deputy PM, the ASEAN Community would not be achieved if the development gap among member countries remains so large and bridging the divide must remain a long-term priority in order to build a dynamic, cohesive and integrated ASEAN. He suggested that IAI projects should focus on the urgent needs of CLMV in their efforts to improve national soft infrastructure; that IAI projects should be conducted in a coordinated and effective manner that brings sustained and long-term impacts on regional integration; and that adequate funding for IAI initiatives would needed. Topping the agenda of the forum's talks included narrowing the development gap, the role of sub-regional frameworks such as Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) and Brunei-Indonesia-Malaysia-the Philippines East ASEAN Growth Area (BIMP-EAGA), the role of ASEAN 6 (six ASEAN old members) and dialogue partners, as well as the role of supporting ASEAN entities and the private sector. ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. (Source: VNA)

ICAO inspects aviation security in Vietnam

09:31' 13/06/2007 (GMT+7)

Security check at the Hanoi-based Noi Bai International Airport. VietNamNet Bridge – Experts of the International Civil Aviation Organisation (ICAO) are inspecting Vietnam’s aviation security. The inspection started from June 11 and lasts today, June 13, 2007. ICAO inspection focuses on books, security equipments, and aircrafts of Vietnam. In the first two days, ICAO experts worked with the Civil Aviation Administration of Vietnam and some airports management agencies of Vietnam. On the last day, June 13, they will survey the operations of all airlines offering flights in Vietnam. ICAO will evaluate aviation security of Vietnam based on the inspection results and will give recommendations and requests to Vietnam. According to an official of the Civil Aviation Administration of Vietnam, this organisation’s aviation security and safety certificate is very valuable. In March 2005, ICAO conducted aviation security inspection in Vietnam and asked Vietnam to upgrade some airports and install some new equipment. This is the second time this organisation checking and re-evaluating how Vietnam has performed its recommendations before. (Source: VNE)

WB, EVN still arguing about PTC

16:22' 12/06/2007 (GMT+7)

VietNamNet Bridge – World Bank Acting Country Director in Vietnam Martin Rama has expressed his concern about the suggested model of the power trading company (PTC), while Electricity of Vietnam’s Director General Dao Van Hung has rejected his fears, saying that the World Bank’s worries would not come true. Power-trading company to kick off competitive power market Martin Rama (right) and Richard Spencer answer reporters’ questions at an interview Mr Rama said that the World Bank (WB) and Asian Development Bank (ADB) both had agreed that it was necessary to draw up a roadmap for the establishment of an independent PTC and a competitive power market. Under the economic laws, the selling prices must comprise production costs plus profit for producer. However, the situation is quite different in Vietnam: the selling price is just high enough to cover production costs. Therefore, donors have a reason to ask Vietnam to raise the selling power price to a higher level, so that producers can make profit and have money for re-investment in power generating systems. Though agreeing on the necessity of having independent power trading companies, WB opposes the model of the PTC suggested by the Electricity of Vietnam (EVN). The PTC should represent the Government and act as the intermediary between the seller and buyer. Meanwhile, EVN suggests setting up a joint stock company in which power generators are the shareholders. This will provide the opportunity for the PTC to do the things to make more profit. In order to do that, the PTC will either lower purchasing prices or raise selling prices. In fact, according to Mr Rama, the model of PTC suggested by EVN has never been seen elsewhere in the world. Such a company may lead to a monopoly, which would cause uncontrollable electricity price increases. “The model suggested by EVN is quite different from what we imagined,” said Mr Rama. In principle, high selling prices encourage investors to inject money in power projects, but this does not apply to this case. It is because the high selling price is obtained by the monopoly, not the actual value. Investors will not join the market if they find out that the electricity seller is the representative of the producers, not the intermediary between the seller and the buyer. Richard Spencer, WB’s senior energy expert, has pointed out that with the suggested model, EVN would still be the real owner. Though EVN said it had sold stakes to outside investors, the sold stakes prove to be very small. When asked to give advice on the model of the PTC, Mr Spencer said that it would better if the company belonged to the state, and not controlled by power generating companies. This means that electricity generating companies must not hold shares in the PTC in order to avoid benefit conflicts. Dao Van Hung, EVN Director General: WB’s worries will not come true EVN’s Director General Dao Van Hung The worries about abnormally high electricity prices will not come true as the state will still control the electricity price for the next few years. The Ministry of Industry will submit to the Government plans on raising power prices, and the price increases will only be applied after getting the nod from the Government. The PTC will not play any role in defining power prices. However, the company will still get the profit of 5-10% per annum, or VND50-100bil from restructuring profit among power generators. Any plans by the PTC to raise selling prices must get the approval of the company’s supervision board to be implemented. The supervision board will include representatives of the Price Control Department, the Ministry of Finance, the Ministry of Industry’s Power Regulatory Agency, and the Consumers’ Association. I don’t think there will be benefit conflicts as WB fears. When negotiating purchasing prices from with a producer that has shares in the PTC, this producer-shareholder will not be allowed to get involved in the negotiations. The PTC will buy electricity from those who offer the lowest prices. The producers which offer overly high prices will have to wait or temporarily shut down if the trading company has bought enough electricity already. I don’t think that the establishment of the PTC would make production costs higher as WB has warned. Regarding the establishment of a company managed by a state agency as suggested by WB, which will cover many activities, including trade, transmission and distribution, this proves to be unfeasible, as it will be very big in scale. In order to do that, in our estimates, we will need VND4-5tril ($312.5mil) of investment capital. About the worries by WB that the members of the only power purchasing company may collude with each other in bidding for providing new power sources, I can say that this will not happen as the companies will have to respect Vietnamese law. (Source: Viet Nam Net)

Prime Minister agrees to new Shanghai Consulate

09:39' 12/06/2007 (GMT+7)

VietNamNet Bridge – Prime Minister Nguyen Tan Dung has approved the opening of a Vietnamese Consulate in China's booming Eastern seaboard city of Shanghai. The new consulate will be the third to be opened by Vietnam in China following Guangzhou in 1993 and Kunming in 2004 and aims to facilitate trade and travel between businessmen from China's most affluent city and the rapidly developing Southeast Asian nation. The Prime Minister delivered the news at a reception held for the visiting Vice Chairman of the All-China Federation of Industry and Commerce, Quan Zhezhu, in Hanoi, on June 11. Vietnam is always eager to become a legitimate partner of foreign investors and of course that includes those from China. The private economic sector is an area that “we believe is very significant to our development strategies,” the PM said. Quan, who is leading a delegation of 42 businesses to Vietnam on an investment fact-finding tour, said he hoped his association and the Vietnam Chamber of Industry and Commerce would sign cooperation pacts to create favourable conditions for Chinese investors inside the country. The delegation is slated to continue their tour when they depart for the central provinces of Ninh Thuan and Quang Nam on June 12. (Source: Viet Nam Net)

VAMA’s Vindaco joint venture dissolving

16:37' 12/06/2007 (GMT+7)

VietNamNet Bridge – Vindaco, which assembles and sells products with the Daihatsu trademark, a member of the Vietnam Automobile Manufacturers’ Association (VAMA), on June 11 announced it would stop operating in Vietnam. Terios, one of Vindaco's models The full name of Vindaco is Daihatsu Vietindo. A source said that the proposal on dissolving Vindaco was made on June 6 at the joint venture’s management board’s meeting, which includes representatives from Vietnamese, Japanese and Indonesian partners. This is the first time VAMA has seen a member company dissolve since its establishment in 2000. Analysts said that unsatisfactory business performance was the main reason behind Daihatsu’s decision to stop assembling vehicles in Vietnam. Daihatsu’s products in Vietnam, including the sports utility vehicle (SUV) Terios and two other models, CitiVan and Hijet Jumbo, are not enough to keep the manufacturer operating in Vietnam. The manufacturer has been selling only 625 Terios a year in its four years of operation, far below the targeted level of 1,000 units a year. In the first five months of the year, the joint venture sold 173 units, holding 0.8% of the market share. The total number of sold cars is 4,748 units since it joined VAMA, holding 1.8% of the market share. A source said that in addition to the problems in business performance, the joint venture decided to shut down also because the Japanese partner, Daihatsu, did not have a voice in the joint venture. With the capital contribution at 26% of the total capital, Daihatsu cannot have the decisive voice in programming the joint venture’s plans. Meanwhile, an official of the Ministry of Industry said he suspected that the partners in the joint venture were not united in defining business strategies. Regarding the issues of the joint venture after the dissolution, he said that the interests of labourers would depend on the provisions of the joint venture’s contracts and its operation regulations. According to the Ministry of Industry, Vindaco’s plant employs 132 labourers. Moreover, the number of labourers who are involved in the distribution chain may reach 200. As for Daihatsu, the Japanese company may seek another Vietnamese partner and set up a new legal entity. Under current laws, automobile manufacturing is not a field that limits investment, and investors just need to prove their capability to be eligible to get investment licences. The licencing is conducted by local authorities. In case Daihatsu signs a contract on technology transfer to a Vietnamese company, the two sides do not need to ask for permission from state management authorities. Vindaco was granted an operation licence in April 1995 and began operating in May 1996. This is a 5-partner joint venture, including Vietnamese Transico (which makes 33% of capital in land use right), and Japanese Daihatsu (26%). Two other partners come from Indonesia, PT Astra International Tbk, and PT Mitra Andasantika. The fifth partner comes from Japan, Kanematsu Corp, which made 2% of capital contribution. As stipulated in the licence, Vindaco has the legal capital of $30mil and investment capital of $32mil. The sale and post-sale systems have the investment capital of $35mil. (Source: VNE)

Step Afrika!: art without borders

15:11' 12/06/2007 (GMT+7)

VietNamNet Bridge – Having recently arrived in HCM City for their stepping dance performance at the HCM City Opera House tonight, June 12, American troupe Step Africa! talked with Tuoi Tre newspaper. How can stepping, a form of art originating in Africa, become an important part of American cultural and artistic heritage? Very simple. It is because stepping is as open as America itself. American culture is the mixing and melting of diverse cultures in the world, and stepping also generously welcomes many different types of dance such as tap, ballet, jazz, hip hop, modern dance, gumboot dance (miners’ heel dance), as well as traditional dances of African tribes. It seems that similar to rap, stepping is also inspired by the yearning for freedom and self liberation as well as a little rebellion of African Americans of the previous centuries? Yes. Stepping moves are sometimes merely foot tapping, hand clapping and other chaotic sounds. Yet, through them, we openly show our own personalities, selves and thoughts about things in life which we can’t express in words. They are not only body moves performed on stage but also music and messages encouraging to the young. In Vietnam, many don’t know what stepping is. How will you help Vietnamese audiences understand these messages that are still new to them? We think art is without borders. It can rub out all barriers of culture and languages. Each member in our group has the ability to stir the stage and captivate audience members with a combination of many vibrant moves and rhythms. Conversing with audiences all over the world and making them empathize with us are what we must do in our tours. And through these tours, we’ve realized that after all, we are all the same and able to share our feelings with each other in art that is inherently without any border or barrier. When you leave Vietnam, what do you want us to remember about Step Afrika!? Oh, of course, we want you to remember stepping! In many places where we’ve traveled, people were interested and even established stepping groups after we left. If the same thing happens in Vietnam, it will be wonderful and we will return and perform with you. As for our impression of Vietnam? Perhaps tomorrow, we’ll all go to eat pho! (Source: VNN)

Investment in golf course booms

16:14' 12/06/2007 (GMT+7)

VietNamNet Bridge – There are around 5,000 golfers in Vietnam at present, including 2,000 regular players. Moreover, the number of foreign tourists playing golf in Vietnam is increasing while the country has just 14 golf courses. Therefore, golf projects are attractive to investors. Golf courses + tourism The northern region now has the Hanoi golf course (wholly Japanese owned), Kim No (a joint venture with Thailand), Dai Lai Star, Flamingo Dai Lai, Sky Lake Golf (wholly Korean owned), and Long Son (also with investment from Korea). The Hai Phong People’s Committee has licenced a US$17.3 million 27-hole golf course of Korea’s Mibaek Industrial in Thuy Nguyen district. The Investment Consulting and Corporate Service JS Company (INCONESS) has kicked off the construction of the Dong Thai tourist site in Ninh Binh province, which includes a 54-hole golf course on 740ha of land, with a total investment of $100 million. It is scheduled to be completed in 2015. A newly-established joint venture named Ha Long Bay Group has signed a memorandum of understanding for investment in three big projects: a $400-450 million project to build an international 36-hole golf course, a golf club, 640 villas, 350 high-class villas, 25 coastal villas, an international yacht club, a heliport, an underwater entertainment zone, expanded works and upgrade the Tuan Chau tourist zone on Tuan Chau Island in Quang Ninh province. A project to build a 108-hole golf course on 1,000ha in Yen Trung Lake area in Uong Bi Town, Quang Ninh province is underway, with a complex of six golf courses, a golf practice ground, an international tourist centre, a golf club, 2,000-2,500 high-class villas. Golf courses + resorts The Rang Dong Construction and Installation Company has invested in the Sea Link Golf & Country Club Phan Thiet golf course, which is located on a white sand bank with a total area of 134ha. This is also a closed architecture complex with a five-star hotel of 200 rooms. VinaCapital has cooperated with the Sai Thanh Investment and International Travel JS Company to establish the VinaCapital Hoi An to build the Hoi An Bay Royal resort with initial investment capital of $16 million in Dien Duong commune, Dien Ban district, Quang Nam province. The resort will be on 7.3ha of land, with nearly 100 villas, restaurants, clubs. VinaCapital is also investing $150 million in another resort with a five-star 350-room hotel, villas on 15ha, and a 36-hole golf course on Nam Non Nuoc beach in Da Nang city. This company also plans to invest $200 million in a five-star hotel and four-star hotel, 1,000 apartments, an international school and a shopping mall in Son Tra district, Da Nang city. The Kingdom Hotel Investment group, run by an Arabian princess, has bought the Vegas project in Da Nang city. This group will invest $65 million to build a 150-room hotel and villas on 12ha of land in front of the Marble Mountains. The 20ha plot of land next to the Vegas project will become a complex of hotels, apartments and villas for lease run by Indochina Capital. This investor has also invested $50 million in the Nam Hai resort and is about to invest $48 million in an 18-hole golf course in Quang Nam province. The Ministry of Planning and Investment has licenced the Lado Filter Engineering Co, Ltd of the Republic of Korea to build the Ba Na golf course with registered capital of over $12 million in Hoa Binh and Hoa Phu communes of Hoa Vang District. The project is scheduled to be completed in late 2007. Besides the Ba Na golf course, Da Nang city will have the 36-hole Hoa Hai golf course invested in by VinaCapital, which has been initially approved by the Da Nang People’s Committee. The People’s Committee of the central province of Thua Thien-Hue has just ratified the construction plan of the western part of Hue city totalling 439.3ha, including 136ha for a 36-hole golf course and the remaining for villas, hotels, shopping malls and farms. (Source: VNN)