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BUSINESS IN BRIEF 14/12   2008-12-14 - VNS, SGGP, VNA

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Steel prices increase

Just after the Ministry of Finance adjusted import tariffs on structural steel, steel producers have increased steel prices by VND0.8m (US$48) per ton compared with prices in November.

Structural steel is currently sold at about VND12m (US$717) per ton in the market. However, prices are still 50 percent lower than peak prices in August.

Steel retailers say that demand for structural steel has increased toward the end of the year, contributing an increase in steel prices.

Vietnam Steel Association says that steel output grew to 300,000 tons in November, double the previous three months.

It is predicted that output will continue to rise by 300,000 tons by December and January, as builders try to finish construction before the Tet holidays.

Steel prices have also been affected by the sharp rise in prices of steel ingots. A ton of steel ingots costs between US$400-450, up from November by US$100-150.

VDC holds draw for trip to US

VDC is holding a lucky draw for MegaVNN customers, offering a trip for two to the US valued at more than VND82 million (US$4,823).

The contest, entitled ‘1 million km with MegaVNN’, will see the country’s leading internet provider give out another five second prizes including tours to Thailand valued around VND15 millions each.

In total, the draw will offer VND150 million in prizes, according to VDC, which holds 55.9 per cent of the ADSL market.

Introduced in 2003, MegaVNN has become one of the most popular internet providers in the country, with nearly 1.3 million ADSL subscribers.

Networkers announce deal

Internet2, ESnet, Infinera, Juniper Networks and Level 3 Communications have agreed to work together on developing and testing emerging 100 Gigabit Ethernet (GbE) technologies.

The initiative will build on fresh-from-the-laboratory technologies to create a 100GbE test bed on the Internet2 and ESnet networks, with plans for an operational network capability soon thereafter.

VN, Mongolia agree to boost trade to US$10m by 2010

Viet Nam and Mongolia have agreed to boost two-way trade from US$3.5 million to $10 million by 2010.

Deputy Minister of Agriculture and Rural Development Ho Xuan Hung and Mongolian Minister for Food, Agriculture and Light Industry Tunjin Badoamjunai, agreed on this at the 13th session of the Viet Nam-Mongolia Inter-governmental Commission for Economic and Scientific and Technological Co-operation.

At the four-day session, which opened in HCM City on Wednesday, the two sides also discussed measures to foster economic, scientific and technological co-operation for the next two years.

They also agreed to create favourable conditions for business, saying that co-operation between the two banking sectors had created a trustworthy and fast payment mechanism.

Lam Dong asked to speed up economic restructuring

The Central Highland Province of Lam Dong needed to quicken its economic restructuring, Deputy Prime Minister Hoang Trung Hai said during a meeting with its senior officials yesterday.

The province had not fully explored, or exploited, its potential for the processing of agricultural produce or small thermal power generation, he said.

The deputy prime minister asked participants at the meeting to focus on the implementation of group solutions, the exploration of comparative and potential advantage and sustainable socio-economic development.

Proposals to seek Government help in basic transport and irrigation construction, the support of economic groups and co-ordinated investment for major projects were all approved at the meeting.



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