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Increasing cases of power theft in Vietnam raise public concern

HA NOI (VNS)- As many as 2,355 cases of power theft in northern provinces and cities were reported so far this year, alarming authorities who take responsibility for ensuring the safety of citizens and public property, according to Northern Power Corporation (EVN NPC). These thefts were generally conducted by installing spare meters or metal straps or switching meters, rather than tapping the grid for power as was common 10 years ago, according to EVN NPC. In An Duong District in the northern port city Hai Phong, someone placed metal straps on the electronic meters...

Polluting firms in Dong Nai fail to to clean up their act

VietNamNet Bridge – A large number of enterprises previously reprimanded for polluting the environment in southern Dong Nai Province have continues to use substandard waste treatment systems, the provincial Department of Natural Resources and Environment has said. A series of environmental inspections last month checked on 150 local businesses that were placed on the department's […]

Pollution taints Vietnam’s national icon

Several areas of Ha Long Bay, the newly-voted world wonder in northern coastal Quang Ninh Province, are seriously polluted. A test conducted by the bay's management board in June revealed that water near the shore contained excessive quantities of oil, although 43 other locations across the bay were not polluted. The ports of Nam Cau […]

Import rubbish surrounding Hai Phong port

Making the corrupt use of the loopholes in the current laws relating to the temporary import for re-export later, a lot of enterprises have illegally imported hazardous industrial waste. 6000 tons of rubbish at Hai Phong port According to Cao Trung Ngoan, Deputy General Director of the Hai Phong port, six months ago, an enterprise […]

SJC finds 6,200 gold bullion of below-par purity

Saigon Jewelry Co, the producer of the national gold brand SJC, has detected more than 6,260 gold bars produced by other companies whose purity is far less than the 99.99 percent the makers claim. The substandard gold bars account for as much as 10 percent of the total non-SJC gold bullion sent to SJC to be converted into the national brand, the company said. The discovery has greatly concerned holders of non-SJC gold bullion, as the gold bars with below-par purity will...

Petrolimex loss put at 2.6tr dong

Vietnam National Petroleum Group, also known as Petrolimex, incurred a loss of over VND2.6 trillion in 2011 from fuel trading, mainly due to exchange rate fluctuations, says a report of State Audit of Vietnam. Auditor general Dinh Tien Dung said the State Audit of Vietnam had released an audit report on the 2011 financial statement of Petrolimex following requests by National Assembly deputies for information about business results of fuel wholesalers. As of February 11, 2011, Petrolimex had sustained a loss of more than VND1.8 trillion because of exchange rate volatility. Furthermore, retail prices quoted by...

Vietnamese and Russian enterprises seek for investment opportunities

“Doubling current export turnover, from the current US $3.5 billion, for the next three years, between Vietnam and Russia is a great challenge for the two sides. However, I believe that this target is feasible”, said Russian Deputy Prime Minister Arkadiy V.Dvorkovich, at a roundtable meeting between Vietnamese and Russian enterprises, held on November 7 th

Analysis – Foreign insurers enter Myanmar market with hope, caution

(Reuters) - The world's top insurance firms are setting their sights on Myanmar, steeling themselves for a fight with corruption and ghosts from the nation's political past. Prudential Plc ( PRU.L ), AIA Group Ltd ( 1299.HK ) and Manulife Financial Corp ( MFC.TO ) are among the global insurance giants preparing to enter Myanmar as the government rolls out a framework for the sector's development with the lifting of European and U.S. sanctions. The opportunities are many. A large population, economic reforms and a natural...

No adjustment in Vietnam’s power, fuel prices

After running a check of all overhead expenses of the country’s sole retail power supplier or EVN, the Ministry of Industry and Trade has ordered the company not to increase prices this month, said a representative of the Electricity Regulatory Authority of Vietnam. Referring to fuel prices, Nguyen Xuan Chien, deputy head of Domestic Market Department, said that the Ministries of Industry and Trade, and Finance, were closely watching the movement of fuel price and would order fuel companies to lower prices in accordance with Decree 84 on fuel trading. As for the proposal of Dong Nai Province to call halt...

Vietnam’s shrimping industry threatened by Bloomberg article

The Vietnam Association of Seafood Exporters and Producers (VASEP) expressed a differing opinion on an article posted by Bloomberg Businessweek, which gave bad image to shrimp produced in Vietnam. The shrimp export value to US reach USD500 million per year The article, entitled, “Asian Seafood Raised on Pig Feces Approved for U.S.Consumers” published on October 11 concluded that quality of shrimp produced in Vietnam was low. After receiving the information, VASEP immediately sent letter to ask the author to make corrections. Shrimp, the highest-grossing export product coming from Vietnam, has reached a total of USD2 billion per year...