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advantageous location which is very important to the central region, especially Danang City. Danang seeks loans for second economic corridor Danang City is seeking capital from the Asian Development Bank (ADB) to develop the East-West Economic Corridor 2 project (EWEC 2) to prop up economic growth in the central region, said chairman Van Huu Chien. Chien said the city had just received a dispatch from the Ministry of Planning and Investment responding to the citys proposal to call for ADB funds, and pledging to discuss this issue with the regional lender. Danang wants to have official development assistance funds to develop the EWEC 2 scheme running through Danang Port, 14B and 14D national highways, Dac Oc border gate in Quang Nam, Boloven Highlands in Laos and Chong MekNakhon-Bangkok in Thailand. At the moment, those routes as part of the EWEC 2 scheme are nearing completion. However, a section stretching about 123 kilometers running from Dac Oc border gate to Sekong has yet to be covered with asphalt. Besides, a 76.6-kilometer-section of National Highway 14D connecting Ben Giang to Dac Oc border gate in Quang Nam is also in need of upgrade. Realizing the importance of the economic corridor, we had petitioned the Government to build the route and to mobilize construction capital from ADB and we already have the nod from the Government to do so, Chien said. Danang in seminars on the Mekong Sub-region held by ADB repeatedly mentioned the routes construction and the lender also expressed its interest in the scheme. Therefore, the local government petitioned the Prime Minister to consider and allow it to work with ADB on capital arrangement so that the project could be deployed as soon as possible, he said. Chien asked the citys departments of transport and planning and investment to cooperate with the Ministry of Planning and Investment and involved agencies in pooling capital from ADB to kick off the scheme soon. According to the citys Department of Transport, the EWEC 2 project will be carried out from

next year to 2016 in Quang Nam Province and Sekong of Laos with total investment of an estimated US$320 million funded by ADBs non-refundable ODA. Site-clearance and compensation costs of the project will be contributed by the local budgets of those localities where the route runs through. The Saigon Times Ca Pass tunnel project: Create impetus for developing the nations economy The project of Ca Pass tunnel bears the significant meaning in terms of contributing to the development of the nations economy-society, security-national defense, particularly the two provinces of Phu Yen and Khanh Hoa. Following is the ideas raised by leaders of the two provinces.

The central coast city had earlier submitted to the Prime Minister a document seeking approval for attracting ADB funds for the project. The city in the document clarifies that the new corridor has an

Mr. Le Van Truc, standing Vice Chairman of Phu Yens Provincial Peoples Committee: Leaders of the two provinces will create the most favorable conditions for the project to be completed as to set procedures Ca Pass tunnel project is a significant one in terms of both national traffic, invested in the form of BOT and BT domestically,

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bearing the special meaning in minimizing traffic accidents, upgrading the efficiency of exploiting the National Avenue 1; simultaneously making special contribution to developing the economy, society, ensuring national defense and security for the Central South coastal region and the central highlands. As for Phu Yen and Khanh Hoa, this project will connect the South Phu Yen economic zone with Van Phong economic zone (Khanh Hoa), creating the connection and impetus for regional development. Once the project is completed, vehicles of all types can halve their journeys, making a considerable reduction in time and other expenditures; particularly finding basic solutions to reducing traffic jams, traffic accidents in the busy route on Ca Pass as currently. We highly appreciate the determination of investors in implementing one nations important project, to contribute to pushing up the project process, one crucial part with the very first decisive role is the task of compensation, site clearance and resettlement, so far, in the North, Phu Yen has basically completed the compensation task, constructing the resettlement area within 8.5ha. Leaders of Phu Yen and Khanh Hoa provinces are unified in creating the most favorable conditions for the timely completion of the project. Mr. Le Duc Vinh, Vice Chairman of Khanh Hoa Provincial Peoples Committee: The project contributes to enhancing the relationship of cooperation for

mutual development among regional localities As to Decision numbered 39/NQ/TW of the Politburo on developing economy and society, ensuring security and national defense in the Central North region and Central South Coastal region to the year 2010, the adjacent part of South Phu Yen-North Khanh Hoa is the summing economic zone, playing the orientating roles for the Central South Coastal Region. The construction of Ca Pass tunnel plays the significant role in developing Khanh Hoas socialeconomic zone. Once the project is completed, focused projects in Khanh Hoa will be soon implemented, creating impetus to promote the provinces socialeconomic development. The investment and construction, putting into operation of Ca Pass bears the significant meaning in developing societyeconomy, ensuring traffic security and order, national defense for the two provinces of Khanh Hoa and Phu Yen; simultaneously enhancing the cooperative relationship, for mutual development for the regional and national localities. phuyennews.vn

E-United Groups plans to build a $4.5 billion steel project in Vietnam have received a massive boost with steel giant Japans JFE Steel Corporation saying it wants to join the party. JFE Steel, the worlds sixth largest steel-maker, said it had signed a memorandum of understanding with the E-United Group, a Taiwanese corporate engaged in steel production, medical services, education and real estate, to look at the feasibility of building integrated steelworks in Vietnam. JFE Steel would become the majority shareholder in the plant. This is a part of JFE Steels plan for expansion production in South East Asia or India to meet the increasing demand for steel products in emerging countries. E-United Group already has a construction site for a steelworks facility in the Dung Quat Economic Zone in central Quang Ngai province, [so] JFE Steel has decided to study this option before considering opportunities in other countries, the company said in a statement. The study will initially examine the feasibility of building and launching a steelworks with an annual capacity of 3.5 million tonnes mainly steel sheets by 2016. If,

JFE Steel eyes up $4.5bn Guang Lian steel project JFE Steel has decided to study this option before considering opportunities in other countries

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by the end of this year, the study reaches a favourable conclusion, JFE Steel said it would partner E-United Group to launch a steel-production operation in Vietnam. Hsueh Hung Yi, president of Guang Lian Steel - in which EUnited Group holds 90 per cent of the stake, with aim to investing in the ongoing steel project in Quang Ngai, told VIR that JFE Steel had expressed interest in studying the feasibility of this project. JFE has a large market and deep relationships in the world. Together with E-United Groups market, the consumption of Guang Lian Steels products will be ensured. This will take us to the leading position in the world, Hsueh said. Guang Lian Steel facility is the second largest steel project in Vietnam after Taiwans Formosa Plastics Groups $7.9 billion port and steel manufacturing complex in central Ha Tinh provinces Vung Ang Economic Zone. Last year, Guang Lian Steel got the green light from the government to raise investment capital from $3 billion to $4.5 billion to build its steel manufacturing complex with annual capacity of 7 million tonnes of steel instead of the initial plan for five million tonnes. Hsueh said the company had completed administrative procedures to obtain an amended investment certificate from the Dung Quat Economic Zone Management Authority, adding that it also reported the planned business with

JEF Steel to the ministries of Industry and Trade and Planning and Investment. He said the stake ratio transferred to JEF Steel would be defined after the completion of feasibility study and added JEF Steel would definitely be the major shareholder in the Quang Ngai province-based steel facility. vir.com.vn Japan confers Sunrise Order on former Investment Minister Japan presented its Sunrise Order to Vietnams former Minister of Planning and Investment Vo Hong Phuc on November 8. The noble award acknowledged Phucs contributions to strengthening the friendship and cooperative ties between Vietnam and Japan, especially in implementing Japanesefunded Official Development Assistance (ODA) projects and attracting Japanese investors into Vietnam during the past 20 years.

infrastructure, training, health care, and poverty reduction in Vietnam, the former minister stressed. He expressed his belief that Japan will continue to be an important foreign investor in Vietnam. vir.com.vn

JAPIA surveys and seeks information on investment climate in Quang Nam Province On November 22nd, 2012, Investment Promotion Center for Central Viet Nam (IPCC) in cooperation with Japan Auto Parts Industries Association (JAPIA) Western Japan Branch had a meeting with the Authority of Chu Lai Open Economic Zone (Chu Lai OEZ). The delegation of JAPIA led by Mr. Yataka Masuda Branch Manager and 08 Japanese investors specializing in auto parts supporting industry aimed at seeking investment opportunities and cooperation with Quang Nam province. At the meeting, after Mr. Le Minh Duong - Deputy Director of IPCC briefly introduced about FDI attraction, orientation and solutions for calling investment into Central Vietnam in the coming years as well as requirements of Japanese enterprises. Mr Nguyen Hong Quang - Deputy Director of the Authority of Chu Lai OEZ highly appreciated the IPCCs role in coordinating and implementing investment promotion

Receiving the honour, Phuc affirmed that Vietnam and Japan have great potential for cooperation, especially in major infrastructure projects. Japan has made significant contributions to developing

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programs into Central Vietnam in general and Chu Lai OEZ in particular. He also presented infrastructure and favorable investment incentives as stipulated in the Law on Investment as well as encouraged investment sectors in Chu Lai OEZ. He showed that Quang Nam province has planed and oriented some suitable sectors, focusing in auto parts - supporting industry. Japanese investors highly appreciated investment opportunities and environment, as well as incentives in auto parts industries.

the group and its auto complex. Two sides exchanged about investment projects involving in auto parts industries. THACOs leader emphasized that THACO is willing to cooperate with manufacturers specialzing in auto parts - supporting industry for business development and expansion. Japanese investors gave thanks THACO for giving them a warmly welcome. They highly appreciated THACOs achievements and efforts in recent years. THACO deserved as a typical success in auto industry with Vietnamese trademark. N.Phuong - IPCC

Investment, said Vietnam has now 112 investment projects in Cambodia with a total investment of US$ 2.36 billion. In Laos, Vietnam currently has 50 investment projects in the development triangle area between three countries, with a total investment of $1.65 billion, accounting for 22.9 percent of the total number of projects and 47.5 percent of the total capital from Vietnam.

Mr Yataka Masuda, on behalf of the JAPIA delegation expressed his desire on boosting economic development of Quang Nam in particular and strengthening relationship between Vietnam and Japan in general, hoping that auto parts - supporting industry will become a leading edge industry in Quang Nam soon. After visiting Chu Lai Truong Hai Auto Complex of THACO Group and Chu Lai Truong Hai Port, the delegation continued to work with THACOs leaders for further understanding about this sector. Mr Pham Van Tai Deputy General Director of THACO Group introduced some information about

Vietnam, Laos, Cambodia seek investments for Mekong sub region Delegates attending a forum on investment and cooperation for the Mekong sub region, held in the central highland province of Dak Lak on November 9, all agreed that Vietnam, Laos and Cambodia need to work on common preferential policies to attract lucrative investments for the Development Triangle Area. The Cambodia-Lao-Vietnam Development Triangle Area comprises of 13 provinces, covering a total natural land area of 144,000sq.km and a population of approximately seven million people. Opening the forum, Dao Quang Thu, deputy minister of Planning and

To date, five Vietnamese provinces in the area have attracted 75 projects from Cambodia and Laos with a total registered capital of $95.5 million. Meanwhile, Vietnamese businesses have invested $3.09 billion in 75 projects in Lao and Cambodia, within the area. However, the results have yet to match development potential as well as the strategic relationship between the three countries, he stressed. Dang Xuan Quang, deputy director of the Foreign Investment Department of the Ministry of Planning and Investment proposed that the countries in the region need incentives to invest in less developed and disadvantaged provinces in the triangle area.

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The three countries should coordinate closely in attracting foreign direct investment (FDI) and official development assistance (ODA) from other regions for major transport projects to connect 13 provinces in the Development Triangle Area with seaports in South Vietnam, he said. These countries should work together in the development of mechanisms and policies to prioritize investment in this area, he added. Thong Sisuvong, a high official from Laos said that Cambodia, Laos, Vietnam need to promote foreign investment into the region to create a driving force for regional development. The three countries should create favorable conditions and policies to encourage enterprises in other countries of Asia such as Korea, India, Japan, etc. to invest in the triangle. He said these policies aim to take advantage of the strength and resources of each country, serving as the key to removing existing obstacles to invest in the region.

along arteries linking Vietnamese seaports to major world markets. They also proposed that the governments of the three countries speed up investment licensing, especially for big projects on hydropower, mining, cash crop planting, and infrastructure construction saigon-gpdaily.com.vn

15,1% of the registered capital. The third is wholesale, retail and repair. Particularly, telecommunications attracted over US$403.4 million of registered capital. By partners: There were 56 countries and territories investing in the first 11 months of 2012, led by Japan the total registered investment capital obtained US$5.05 billion, accounting for 41,5%; the second were Singapore, the total registered investment capital of US$ 1.55 billion; the third were South Korea with the total registererd investment capital of USD1.086 billion, followed by Samoa, the total capital reached US$899.8 million; the British VirginIslands ranked fifth, the total registered investment capital of US$ 727.6 million. By areas: The areas with favorable conditions located in the key economic Southern and Northen region have the lead in attracting investment, Binh Duong ranked first (US$2,28 billion of registered capital), Ho Chi Minh city ranked second (US$1,14billion of registered capital), the third were Dong Nai (US$1,115 billion of registered capital), the fourth were Hai Phong (US$1,108 billion of registered capital) and followed by Bac Ninh (US$1.092 billion of registered capital) FDI in Central Vietnam In the first 11 months of 2012, 13 provinces in Central Vietnam from Quang Tri to Khanh Hoa (including 5 Highland provinces) have attracted 65 new projects with

Foreign investment situation in the first 11 months of 2012 in Vietnam According to the report of the Foreign Investment Agency, Ministry of Planning and Investment, foreign direct investment in the first 11 months of 2012 has continued to have positive changes, although the socio-economic situation in the country has had many difficulties and challenges but realized investment capital of 11 months still reached US$ 10 billion (equaling 99.5% over the same period last year).In which, although the newlyregistered capital was only 60.4% over the same period, the additional registered capital increased by 41.3% over the same period. Another good sign is the export of foreign investment enterprises (including crude oil) increased by 31,8% compared to the same period last year . By sectors: The processing, manufacturing sector continued to have the lead with 69,8% of the registered capital, the real estate sector ranked second accounting for

The delegates suggested building large-scale commercial material supply areas to encourage and lure investments in production and for export product processing plants

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the registered capital of over US$ 408 million, equal to 105% of the projects and 68% of the registered capital compared with the same period last year. Khanh Hoa province topped the list of 3 largest FDI recipients with the registered capital of US$ 190 million. Da Nang ranked the second with over US$ 110 million and followed by Lam Dong province with more than US$ 34 million. FDI in Central in the first 10 months of 2012

By late October 2012, this region has attracted 820 FDI projects with the registered capital of over US$ 24,25 billion, accounting for 5.78 % of the number of projects and 11.65% of the registered capital compared with the whole country. Among them, Central Key Economic Zone has attracted 517 projects with the registered capital of over US$ 15.5 billion, making up 64% of the whole region. IPCC

with 8,177 enterprises, only 10% said they could predict the changes in macro-economic policies. However, Loc said what's most disappointing is that enterprises have not been proactive. When were asked what preparations they had made for the free trade area between ASEAN and China, when import taxes will be reduced to 0-5%, 42% enterprises in a big business club in HCMC said they were unaware of the impending agreement and 42% said they had heard of the information but haven't made any plans. Only 16% had made preparations. According to Loc, the government should help those enterprises that had the greatest potential, not just in difficulties. Because in reality, there are many companies that could only survive due to the support they received and it was a waste to pour money into them. In the next two years, enterprises may still face the problems in macroeconomy along with other issues such as limited access to capital, and gloomy real estate and securities markets, meanwhile foreign investment will slow. The results of the ninth quarterly EuroCham Business Climate Index survey, conducted in October 2012, show that business confidence and the outlook among European businesses in Vietnam continued to drop to a record low. The enterprises said the inflation rate, the banking system and the

Vietnam economy continues to face difficulties Around 100,000 businesses are forecast to close between 2011 and 2012. The figure is equal to half of the figures over the entire past two decades since Vietnam adopted the Law on Enterprises, Chairman of the Vietnam Chamber of Industry and Commerce (VCCI), Vu Tien Loc forecast. Loc further said the enterprises that were still in business were meeting difficulties such as incomprehensive policies, lack of capital and especially a lack of transparency in the business environment. Major companies have been accused of lacking transparency, which in turn has jeopardised small businesses providing them with services. Unstable policies are also blamed for the downturn. In a survey

FDI projects in this region have focused on industry-construction sector with the registered capital of over US$ 311 million (accounting for 76.24%), followed by trade and service sector with more than US$ 70 million (17.19%) and the registered capital of USD 26.8 million in agriculture-forestryaquaculture sector. FDI in Central Vietnam by sector (in the first 10 months of 2012)

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increases in taxes had affected the business environment. However, the percentage of European enterprises who wanted to increase their investment grew, showing positive signs for the medium-term. To boost the market, Loc proposed to reduce VAT for consumers. Economy and Forecast Review Can Vietnam attract higher FDI? Global Foreign Direct Investment (FDI) flows have bounced back and would increase in the years to come according to Director of the Planning and Development Faculty of the National Economic University Associate Professor, Dr. Le Huy Duc. The professor made the comments at a recent workshop organized by the Central Institute of Economic Management under the Ministry of Planning and Investment. Global FDI trends Le Huy Duc said that global FDI had bounced back in 2010 after a standstill during 2008-2009. More than US$1.5 trillion in FDI was deployed last year. Of this, developed countries attracted US$748 billion, a 21 percent increase on 2010, developing countries US$684 billion making up 45 percent of all FDI worldwide, and under-developed economies US$92 billion, a 25 percent increase and 6 percent of all FDI worldwide. Based on this momentum, it is expected that global FDI will reach US$1.6 trillion in 2012, US$1.8 trillion in 2013 and US$1.9 trillion in 2014. East Asian and ASEAN (Association of Southeast Asian Nations) countries will continue to remain attractive investment destinations, said Le Huy Duc. Future global FDI trends indicate increased investment in green economies and clean industries. Moreover, transnational companies (TNCs) will play an important role and will become the largest source of FDI given that TNCs need to expand their markets, resources, political stability, and FDI incentives. To attract FDI countries need to apply comprehensive FDI attraction policies, regarding land, money, exchange rate, labor, finance and more. How to attract global FDI? Although global FDI flows bounced back in 2010 and are expected to increase in 2012, FDI in Vietnam has dropped progressively in the last two years. Specifically, the country attracted US$19.8 billion worth of FDI in 2010 and US$14.7 billion in 2011 compared with US$21.48 billion in 2009. Although the Government has set a goal to

attract US$15-17 billion in 2012, the country has drawn only US$10.49 billion in the first 10 months of the year accounting for 75.3 percent of the total a year ago. Vietnam's neighbors have contributed to this situation after renewing their FDI policies. Dr Nguyen Xuan Cuong, the Deputy Editor-in-Chief of the China Research Journal, said that China was only second to the US in attracting FDI. He also said that China always considered FDI an important force for the country to grow, improve technology, learn international business experience, create jobs, increase people's incomes and boost foreign trade to facilitate the market economy. With that in mind, China had put in place appropriate FDI policies at specific periods of time, while increasing investment-incentive fields from 116 to 262 and reducing investmentrestricted areas from 112 to 75. This trend would continue following its WTO roadmap. As a result, China had received investment from 744,000 FDI businesses with US$1.2 trillion by March 2012. FDI businesses had created an average of 72,000 jobs a year. The FDI sector contributed 30 percent of China's Gross Domestic Product (GDP) growth. Like China, Thailand has attracted large amounts of FDI capital for years. Hoang Van Cuong from the Central Institute of Economic Management said that Thailand considered FDI as a driving

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force for economic development. The Government of Thailand had devised policies to make the most of FDI. With major advantages including a large market, low labor costs and special investment incentives, Thailand had absorbed large amounts of FDI capital even after the financial crisis. To better attract FDI, experts said that Vietnam need to apply proper FDI strategies in specific periods of time and to improve the investment environment to make the most of the advantages offered by each region. Hoang Van Cuong emphasized the need to renew FDI policies based on internal economic abilities, close observation of regional and international investment regulations, fair enforcement of preferential investment policies, and domestic production encouragement Vietnam Economic News

exploit five million tonnes of minerals, while Vietnams total titanzircon reserves amount to 500 million tonnes. As a result, the firm wanted to establish other two joint ventures with Vietnamese partners, he said. Vu Hoang Lien, director of staterun Vietnam Post and Telecommunications Groups (VNPT) wireless broadband project, underscored the challenges by revealing to VIR that VNPT had established a Vietnam-Russia joint venture to develop a $500 million wireless broadband project in Vietnam, with capital increased to $3 billion over the next 15 years. However, this project needs to be licenced by the Vietnamese government, with such a licence granted until 2015 under the governments roadmap. But this roadmap is too long and will dispirit our Russian partner, Lien said. Thus, it is recommended that the Vietnamese government licence this project as soon as possible. This will help meet customers growing demand, he said. Meanwhile, Russian mining investor GeoProMining Group chairman Siman V. Povarenkin said GeoProMining had been operating a well-equipped factory with two titanzircon mines in south-central Binh Thuan province. But he underscored the vast potential for future development by revealing the factory was operating at just 30 per cent capacity and it was licenced to Besides, Mikhail V. Shashmurin, director of Russias thermal power plant investor OAO Eastern Energy Company, said this company was interested in Vietnams market. We want to build a thermal power plant in Vietnam. But we want to see clear investment incentives and simple investment procedures, as well as power pricing priorities from the Vietnamese government, he said. Sergey V. Kirienko, director of Russias Rosatom State Nuclear Energy Corporation Group - which is cooperating with Vietnam to build a nuclear power plant in south central Ninh Thuan province, said it was also looking for clarity as the deadline for building this plant remained unclear and this would affect the groups allocation of resources. In response, Hai said the VNPTs Vietnam-Russia joint venture project would be licenced in 2014, while issues relating to GeoProMining and Russias OAO Eastern Energy Company would be soon resolved by Vietnams Ministry of Industry and Trade. vir.com.vn

Old comrades seeking a new fresh partnership Scores of Russian and Vietnamese enterprises are trying to develop a rich new business environment to cultivate profits. Last weeks Vietnam-Russia business round-table gathering in Hanoi, co-chaired by Vietnams Deputy Prime Minister Hoang Trung Hai and his Russian counterpart Arkadiy V. Dvorkovich, saw many enterprises seek help from the two governments to do business in the two nations.

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Investment Russia

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According to the Foreign Investment Agency, Vietnam has attracted more than 80 investment projects from Russian enterprises with registered capital of US$920 million. Russia currently ranks 23 among the 96 countries and territories investing in Vietnam.

Vietnamese enterprises have invested more than 10 projects in Russia with total registered capital of US$776 million. Russia ranks the fourth in terms of capital in 60 nations in the world receiving investment from Vietnam. Of which, Vietnamese enterprise's leading projects in Russia included Vietnam National Oil and Gas Group's oil and gas exploitation project in Nhehexky and Hanoi-Moscow Trade Center project. Vietnamese enterprise's investment in Russia has tended to rapidly increase, demonstrating the attractiveness of Russia to Vietnamese enterprises. Experts when evaluating about investment result said that in the context of the economy between the two countries in the extensive reform period, its figure was appreciable. In the next time, attracting investment will have many positive changes due to the extensive development of bilateral cooperation between Vietnam and Russia on many sectors. Political relations between the two countries have continuously developed and strengthened. Leaders of the two countries often have official visits. Since 2007, the two countries have agreed to actively implement important tasks in order to promote the strategic partnership between Vietnam and Russia. Russia's President Vladimir Putin, Prime Minister Dmitry Medvedev and other senior officials consider Vietnam as an important country in Southeast Asia and the Asia-Pacific region and look forward to

strengthening relations between the two countries, creating favorable conditions in order to increase investment in the next time. The two countries have signed more than 60 bilateral documents in order to building legal framework, creating favorable conditions for the development of relations between Vietnam and the Russia. Foreign Investment Agency Deputy Director Nguyen Noi said that to attract investment from Russian enterprises, it was necessary to comprehensively implement solutions from the completion of the bilateral legal framework to improving the efficiency of investment promotion programs. In particular, in 2013, Vietnam and Russia together with Belarus and Kazakhstan will negotiate about the prospects of signing Free-Trade Agreement between the four countries. The extensive cooperation in various sectors between Vietnam and Russia is an important basis to increase investment capital between the two countries in the future./. Vietnam Economic News

However, Russia Trade Office in Vietnam Deputy Chief Representative Melnikov Sergey F said that if including Russia's FDI and financial investment in Vietnam, registered capital will reach US$4.1 billion and its figure will have opportunity to increase in the coming years. Russia's investment projects in Vietnam have mainly concentrated in the financial, oil and gas, power and transport sectors. The Vietsovpetro joint venture project has regarded as a symbol of traditional cooperative relations between Vietnam and Russia. In 2011, after 30 years of cooperation, the total sales of crude oil from its project reached US$54.3 billion. In addition, there were some projects of the Gazprom Company and the Zarubezhneftegaz Company with total investment capital of US$328.2 million.

THACO to hold the top in automobile market in third quarter of 2012 According to the statistic of Vietnam Automobile Manufacturing Association (VAMA), in September of 2012, the sale turnover of the company is 7,669 vehicles including 2,869 cars and 4,800 commercial

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vehicle, increase 9% compared to August 2012 and decreases 36% compared to the same time period last yeas. Members of VAMA solely have been sold 7,018 vehicles, increased some 500 vehicles compared to August of 2012.

Mong Duong II reaches 25% completion Doosan heavy Industries Vietnam, announced that Mong Duong II pushed past the 25% completion mark recently. A company spokesperson said The $1.3 billion USD project is on schedule and on track. Doosan Vina is the EPC contractor for the project which is to start generating power for Vietnams growth and development in December 2014. The project is being carried out under an EPC contract between Doosan Heavy Industries Vietnam and AES. AES signed the Build Operate Transfer agreement with Vietnam on April 22nd, 2010.

Economic Zone are making history by developing Vietnams domestic expertise in power plant technology.

Up to September, the total sale turnover of VAMA members reached 55,880 vehicles, decreases 32% compared to the same time period last year. In which, commercial segment decreases 26%, multi-functional vehicles decreases 36% and cars is 40,8% decreased. VAMA anticipates that the total market demand of Vietnam automobile market in 2012 is 94,000 vehicles, 7% increase compared to August. In September of 2012, THACO has 2,200 sold out, in which included 1,378 commercial vehicles, 813 passenger buses. With this turnover, THACO positions number two of the month. Within first 9 months, THACO has sold out 17,683 vehicles, 25,5% down compared to the same time period last year and remains the top for domestic sales turnover in consecutive 3 quarters with the market share occupation of 31%. Auto THACO

Vietnams central government is focusing on the rapid development of this key industry to end foreign dependence to build power plants and also to provide an industry that can become a global player, exporting high tech boilers to other nations worldwide. Upon completion MD II, Units 1 and 2 will add a total of 1,200 Megawatts of power to Vietnams power grid. Unit one is scheduled for completion in December of 2014 and unit two is planned to be operational six months later in June of 2015. Doosan Vina

This power plant will be the first to have the major components, including a boiler, which is the heart of a thermal power plant, that was completely Made in Vietnam by skilled Vietnamese craftsmen. The MD II boilers will produce the steam to drive the turbines that will generate the electricity so urgently needed to continue Vietnams planned development. The Boilers designed, engineered and fabricated in Doosan Vinas high tech, 2,500 employee strong complex in Central Vietnams Dung Quat