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Asians and Europeans get head start in Vietnam
15:14' 29/10/2006 (GMT+7)

VietNamNet Bridge - Asian and European companies are likely to be the big winners from Vietnam's entry into the World Trade Organization, terms for which were approved late Thursday by trade negotiators from around the world.

The agreement, subject to final approval on Tuesday by a special meeting of trade ambassadors from the organization's 149 members, paves the way for a long list of changes that will transform the Vietnamese economy.

Because the United States, Europe and other trading powers have driven an even tougher deal with Vietnam than they did before China joined the WTO in 2001, the changes in Vietnam are likely to be even greater.

The agreement was concluded Thursday by a WTO working party, Reuters reported from Geneva. It requires Vietnam to reduce or repeal many import duties, eliminate a long list of textile industry subsidies and allow foreign banks to incorporate wholly owned subsidiaries in Vietnam beginning April 1. In exchange, quotas on Vietnam's garment exports will be lifted, and Vietnam will gain the right to challenge foreign countries' trade barriers before WTO tribunals in Geneva. Vietnamese membership will leave Russia, Iran and Ukraine as the three biggest countries that have not yet joined the WTO.

As companies around the world watch the rapid opening of Vietnam's markets, the experience of Prudential, the British insurer, is what they all dream of emulating. Eight years after receiving the first license for a foreign company to offer life insurance in the country since the end of the Vietnam War, Prudential has already captured 41 percent of the life insurance market. That compares with 38 percent for Bao Viet, the state-owned life insurer, 11 percent for Manulife and 6 percent for American Insurance Group.

Prudential has made large profits by investing insurance premiums in local stock markets, which are up more than 70 percent this year, in the soaring real estate market and in government bonds, which pay interest rates well above Vietnam's 7 percent inflation rate.

With strong ties to provincial and central government officials, Prudential has now received the first license for a foreign company to offer a broad array of loans, including mortgages and consumer loans, giving it an early edge against foreign banks that hope to pile into the Vietnamese market next year.

"It's the first-mover advantage," said Charlie Oropeza, chief executive of Vietnam operations for Prudential, which is unrelated to Prudential Financial in the United States.

European and Asian companies have seized similar leads in other markets. LaFarge Groupe of France, the world's largest cement company, has built a state-of-the-art cement-grinding operation near Ho Chi Minh City, the country's largest municipal market for cement.

The German company Metro dominates retailing with a chain of eight immense warehouse stores that sell to small stores across the country; Wal- Mart Stores has yet to open its first outlet. But Warren Hodder, Metro's director of nonfood purchasing and merchandising in Vietnam, said not a single American company had sent representatives to try to persuade him to stock their goods in his stores, although delegations marketing American beef and Washington State apples had visited his colleagues in charge of food purchases.

A spokeswoman for Wal-Mart declined to comment on when or whether it might enter the Vietnamese market, citing a company policy of not commenting on plans to enter overseas markets.

The slow start of American companies in the Vietnamese market is partly a result of acrimony following the Vietnam War. The United States did not lift its embargo on trade with Vietnam until 1994 and did not establish full bilateral trade relations until the end of 2001.

Because of the late start, and their slow movement since then, American companies rank ninth in foreign investment in Vietnam, with only a quarter as much approved investment as Taiwan or Singapore.

There could be another delay this winter. The U.S. Congress is scheduled to vote in mid-November on whether to grant permanent status to its trade relations with Vietnam. If the House of Representatives or the Senate defeats the measure, or if either chamber delays action, Vietnam would still join the WTO, but its rules would not apply to bilateral trade between the United States and Vietnam until Congress acted.

Despite the delays, American companies are starting to pay attention to Vietnam now, as are American investors.

"There is a lot of interest by our customers," said Charly Madan, the chief country officer for Vietnam at Citigroup, which was the co-lead manager for a Vietnam sovereign bond issue in the United States last year.

What Vietnam really wants from the United States is high technology, including nuclear energy technology. But Vietnam, like China, is covered by American limits on the export of technology with potential military applications.

Vietnam is a modest net exporter of oil now but expects to become a net importer in seven or eight years. Vietnam has responded by making plans to build its first nuclear power plant. Vietnamese officials insist that this is an effort to ensure energy security and not an attempt to develop nuclear weapons like North Korea. But while France, South Korea and Russia have been lobbying hard for Vietnam to buy their nuclear technology, American companies and government officials have been silent, said Le Dang Doanh, a senior economic policy adviser to the government here.

"Vietnam is very interested to increase imports from the United States" and narrow the bilateral trade deficit, Doanh said, adding that the terms of trade favored the United States in general: "How many T-shirts must Vietnam export to buy a Boeing?"

Vietnam passed an investment law this year guaranteeing foreign-owned companies equal treatment with domestic companies. But with WTO membership, some of the biggest changes will start coming next April 1. That is the date that Vietnam has accepted in WTO negotiations for allowing foreign banks to set up 100 percent foreign-owned subsidiaries.

Vietnam is going further than China, which has not accepted fully foreign- owned banks, limiting foreign institutions to minority stakes in existing banks and to the opening of a handful of foreign-controlled branches.

With nearly double-digit economic growth and six million bank accounts held by its 84 million people, Vietnam is one of the world's great untapped banking markets. Even houses are commonly bought and sold for briefcases stuffed with cash. Vietnam's banking market has attracted extra attention as Industrial & Commercial Bank of China prepares to raise more than $20 billion in an initial public offering Friday.

But Vietnam will retain the right to approve acquisitions of existing banks, which may slow foreign penetration of the Vietnamese market. Doanh said Vietnamese banks were much stronger than Bao Viet, the state-owned life insurer, and that no foreign bank was likely to replicate Prudential's success in life insurance.

Michael Smith, chief executive of Hongkong & Shanghai Banking Corp. said allowing wholly owned subsidiaries to be incorporated in Vietnam was an approach that HSBC had encouraged. HSBC, based in London, already has a small stake in a Vietnamese bank and is interested in expanding, but regulators are likely to limit the pace of foreign banks' expansion.

"They don't just want to throw it open and let in everybody and have the local banks chewed up," Smith said.

(Source: The New York Times)

Vietnam’s accession to be a crucial help to WTO
12:55' 29/10/2006 (GMT+7)
Soạn: HA 939325 gửi đến 996 để nhận ảnh này
The Vietnamese negotiation delegation at a round of negotiation in Geneva.

VietNamNet Bridge - Vietnam completed its final round of negotiations to join the World Trade Organization (WTO) on Thursday, said many big news agencies around the world yesterday.

"The government of Vietnam has done admirable work in responding promptly and constructively to members' requests and in putting into place WTO-consistent legislation," the US-based AP quoted Eirik Glenne, the Norwegian ambassador who chaired the working party, as saying.

The US press agency has also quoted US diplomat William Tagliani as saying Vietnam’s imminent accession to the WTO is a crucial supplement to this organization.

The annual trading turnover between US and Vietnam reached about US$8 billion in the past 5 years, a 400 percent increase.

Meanwhile, an article by reporter Frances William of the UK-based Financial Times News has hailed Vietnam’s concerted efforts to integrate international economies.

According to the reporter, Vietnam’s economy has grown at a fast rate since its implementation of economic liberalization policies in early of 1990, and now it becomes one of the fastest growing economies in Asia.

In addition, Bill Hayton journalist of the BBC News said that Vietnam will be more attractive to foreign companies when joining in the WTO, so it will have more opportunities to keep its economy shooting up.

“We are very happy as all documents on Vietnam’s accession to the WTO were approved at multilateral negotiations in Geneva on October 26, officially marking the country's completion of its negotiation process for becoming a member of the WTO” said Mr. Le Dung, Spokesman for the Ministry of Foreign Affairs today.

“Conceivably, this is the result of concerted efforts made by the Government and relevant ministries and agencies, as well as the Vietnamese negotiation delegation, demonstrating Vietnam’s determination to join in the regional and international economies”

“Vietnam also highly appreciates the support of the Working Party on Vietnam's Accession to the WTO, leaders and experts of the WTO Secretariat, Chairman of the Working Party-Ambassador Eirik Glenne for Vietnam during the process of negotiation” added the spokesman.

“To prepare for the accession, Vietnam has implemented wide and deep reforms in line with international standards. On the horizon, Vietnam will continue to actively integrate international economies, make use of benefits brought by WTO membership rules and effectively solve the challenges of the process of global economic integration”

Concerning about APEC Summit 2006 held in Ha Noi from 18 to 19 November, Mr. Le Dung said “Accession to the WTO and hosting the APEC Summit 2006 are two very importantly political and foreign affair events of the government, demonstrating Vietnam’s active policies to integrate the international economy. In addition, being WTO’s member will pave the way for Vietnam to effectively remove trade barriers which is one of the most important targets at this year’s APEC Summit”.

(Source: SGGP)

WTO membership to help warm up real estate market
14:23' 31/10/2006 (GMT+7)


VietNamNet Bridge – The news that Vietnam will be admitted to the World Trade Organisation (WTO) in November 2006 has helped activate the domestic real estate market.

Foreign investors who have not made investments in Vietnam due to their reservations about the stability of the business climate in the country will feel secure about their investment plans once Vietnam officially becomes a WTO member.

Tran Trong Hieu, Investment Director of the International Urban Development and Investment Joint Stock Company (IDJ), said that the question he always hears when going abroad is which organisation Vietnam is a member of. He answers that Vietnam is completing necessary procedures to become a WTO member.

“Once foreign investors hear the news that Vietnam will join the WTO in early November, their reservations about the stability of the business climate will be removed, which will prompt them to make investment in Vietnam,” said Mr Hieu from IDJ, an investment broker.

He added that investment brokers were all optimistic about the prospects for foreign investments in Vietnam in the coming time, including investments in the real estate market.

The issue that foreign investors, especially investors in real estate, which always requires big sums of investment capital, are the most concerned about is the legitimacy of the legal framework and the stability of the business climate. They need the State to commit to protecting their rights and benefits while making investments. For example, the State must pledge not to nationalise their assets, or in case of nationalisation, their benefits must be protected.

“We will not have to spend much time talking to foreign investors as all the issues they are interested in are clearly stated in the Investment Law. All we will have to say is that Vietnam is going to become a WTO member, and the investors will understand what it means, because after becoming a WTO member, Vietnam will have to play by the rules of the game,” said Mr Hieu.

According to Mr Hieu, Vietnam can put high hopes on the investment flow from overseas Vietnamese (Viet Kieu) which will come first.

He related that at the conference on calling for investment organised by IDJ, he met a Viet Kieu in Germany who plans to invest $20mil in Vietnam. Other Viet Kieu, who have several tens of millions of dollars, also said that they will inject their money in Vietnam instead of the bonds of several governments.

While keeping optimistic about the prospects for the real estate market once Vietnam gets its WTO membership, Vo Dinh Quoc, Deputy Director of the ACB Real Estate Trading Company still stressed that Vietnam needed to do a lot more things to make the legal framework more transparent.

“I was not so surprised when a foreign investor told me that he could not understand the management mechanism applied in Vietnam,” said Mr Quoc.

(Source: Dau tu)

Trade Minister: “We are getting married on schedule”
08:42' 31/10/2006 (GMT+7)

Trade Minister Truong Dinh Tuyen.
VietNamNet Bridge – Returning from the 14th multilateral negotiation round in Geneva yesterday morning, Trade Minister Truong Dinh Tuyen once again compared Vietnam’s WTO accession to the marriage of a man. He said that 11 years for negotiations was not too long and joining the WTO at present was according to schedule.

Why did you have to go to Geneva this time as the contents of negotiations had been fixed in the last round?

I directly participated in this round of negotiations to take precautions again in the case that partners laid down new requirements and I could immediately resolve them. However, there was almost no new issue emerging this time. In the unofficial session on October 25, a few countries only asked me to change some words in the WTO accession documents. Moreover, I had to deliver a speech at the final session.

What do you think about the process of 11 years of negotiations for WTO accession of Vietnam?

Scheduled admission procedures of Vietnam:

- 7/11: Special session of the WTO General Assembly to ratify documents and accept Vietnam as a member of the WTO.

- 5/12: Vietnam ratifies WTO accession documents.

- Vietnam informs WTO about the ratification.

- 30 days after informing the WTO about the ratification, Vietnam will become the 150th member of the WTO.

Different from bilateral negotiations, which followed the rules of “a tooth for a tooth”, WTO negotiations are a one-way street. The WTO has its rules that we have to obey and WTO members have the right to ask us to follow. We can’t set requirements for them.

Many countries have entered the WTO before us and all of them, currently 149, have the right to set requirements for us. Later negotiations are more difficult because WTO members have the right to make requirements on the basis of the standards that they have just reached, which makes the process of negotiation longer.

However, I think 11 years is normal, not too long. China took 14 years to become a WTO member. Russia has experienced 13 years of negotiations, but it is not yet a member of the WTO. I think it is timely for us to join the WTO now.

Vietnam set the target of entering the WTO in late 2004, and then 2005, but finally it is 2006. What is the reason for the delay or as some people said, “missing the WTO train”?

I don’t thing that we missed the WTO train. In March 2005 at the national trade conference I said that there was a very faint chance for Vietnam to enter the WTO in late 2005. Some people may not have been satisfied with my words but I think that if we set a deadline, we will self bind ourselves to that deadline and it can help other countries to lay pressure on us. Thus we can made disadvantageous commitments.

When former Prime Minister Phan Van Khai paid a visit to the US in 2005, he also wanted to conclude negotiations with this partner at that time. I think that was a legitimate wish, but I told him that if we wanted to conclude negotiations during his US visit, everything that we did then must have been completed a year before. And that’s the fact. The US visit of Mr Khai was in June 2005 and we finished negotiations with the US in June 2006.

Previously, I said that negotiations were like getting married with a girl. If we hurry, we marry an ‘expensive’ girl. On the other hand, it is difficult for us to get married when we are old. At this moment, I think we are getting married on schedule.

Many people said that the US would approve the permanent normal trade relations (PNTR) status for Vietnam earlier. What do you think about this issue?

I can’t confirm the specific time but finally the US will approve PNTR. If the US doesn’t grant PNTR to Vietnam, they will announce whether or not they will apply the Protocol on WTO Accession of Vietnam. However, we will be still a member of the WTO and we don’t have to follow through with our commitments to the US.

I believe that the US will grant PNTR for Vietnam sooner or later because this is not our interest only but also theirs. Politically, this will heighten the relations between Vietnam and the US, marking the entire normalisation of relations between the two countries.

Economically, we may not directly benefit (our textile-garment exports will be still imposed with quotas) but the US also doesn’t benefit from our WTO commitments. I think the US’ interest is even larger than ours.

When will WTO commitments be made public exactly?

There is no reason for delay. Ministries and sectors are preparing for this task. However, the documents are very long. Moreover, the language used in negotiations is in English and now we have to translate it into Vietnamese so it may take more time. I think the commitments may be released this November, perhaps in the next one week. The documents will be firstly published online and the key issues will be published in written documents.

The issue now is how to make public those documents because they are very long. The report of the Working Group is hundreds of page. Commitments on goods are also around 500 pages. Commitments on services are shorter but very complicated, so we must know how to make everybody understand them.

At the final session on October 26, the Working group approved the WTO accession documents of Vietnam, including:

- Preliminary commitments on goods, including a 560-page list of tariffs, quotas and maximal price subsidies on agricultural products and the itinerary for removing subsidies.

- Preliminary commitments on services, which is 60 pages long, which points out the forms of services that Vietnam will open for foreigners and supplementary conditions.

- Preliminary report of the working group, 260 pages long, which defines the legal structure and commercial system of Vietnam as well as the country’s commitments in this area.

The brief of this document will be announced after the WTO General Assembly approves the admission of Vietnam.


(Source: VNE)

Deputy PM Pham Gia Khiem to attend WTO initiation
16:12' 01/11/2006 (GMT+7)


VietNamNet Bridge – Deputy Prime Minister, Foreign Minister Pham Gia Khiem will lead a Vietnamese delegation to attend the ceremony admitting Vietnam as the 150th member of the World Trade Organisation (WTO) in Geneva, Switzerland on November 7.

According to an announcement by the Vietnamese Foreign Ministry, Mr Khiem will head to Geneva with many other high-ranking officials, including Trade Minister Truong Dinh Tuyen, Deputy Trade Minister – chief WTO negotiator Luong Van Tu, Vietnamese Ambassador to the WTO Ngo Quang Xuan and more than 30 other officials who have participated in the negotiation process in the past 11 years.

According to sources from Geneva, the initiation ceremony will be held on the morning of November 7 at the headquarters of the WTO under the witness of WTO General Director Pascal Lamy and Eirik Glenne, Chairman of the WTO General Assembly cum Chairman of the Working group on Vietnam’s WTO accession, and hundreds of WTO officials.



(Source: TN)

APEC brings opportunities for Vietnamese businesses
15:09' 01/11/2006 (GMT+7)

VCCI Chairman Vu Tien Loc.
VietNamNet Bridge - How has the community of Vietnamese businesses taken advantage of the APEC Summit? Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), speaks about this issue.

There are two important events during the APEC week in Hanoi in November. The first is the meeting of APEC leaders to discuss regional, global economic issues and economic cooperation among APEC economies. The second event belongs to APEC business circles, and is considered the largest gathering of leading APEC entrepreneurs.

During this time, the business circle will participate in the conference of the APEC business consultancy council and the summit of APEC chief executive officers (CEO Summit). In addition, to take advantage of the first gathering of the world’s leading businessmen in Vietnam, we will organise a large forum on investment and business with Vietnam, in which Vietnam will play the role of the latest member of the World Trade Organisation (WTO). This is Vietnam’s initiative.

Many enterprises said that it is very difficult, even impossible for them to register for attendance in the CEO Summit and the forum, why?

Owing to limited logistic conditions, mainly the shortage of hotels, we can’t invite many companies to take part in the event. To help all domestic enterprises to have access to this event, apart from direct meetings, we will arrange indirect accession via a website. This website will post all information about products and investment projects of enterprises. During the APEC week, companies can visit the website to learn about the business environment in Vietnam. We will also give documents and VCDs introducing local companies to delegates. We will also organise particular programmes for delegations to survey the business and investment environment in some provinces and cities in Vietnam at their requests.

We will soon announce the list of foreign companies that will come to Vietnam on this occasion. Based on the list, local companies can identify suitable partners, and then tell the organising board and we will inform the foreign partners. In case foreign partners want to meet any Vietnamese company, we will also help them. This means that VCCI is ready to take the role of a ‘match-maker’ to help both sides use this opportunity to meet.

What is the message that Vietnam will deliver at the three big conferences of the APEC business circles?

The theme of the APEC business community is turning this region into a community for cooperation to develop and to promote economic reforms in member economies. The business circles request leaders to resume the Doha round, heading to commercial liberalisation in the world.

As many countries are promoting the signing of free trade agreements, the APEC business community also requests that those countries don’t affect the business environment of APEC, to ensure a common market, and an APEC free trade area in the future.

The business circles also recommend APEC governments strengthen reforms on administrative, business and tariff formalities in order to cut transaction costs. APEC targets to cut down 5% of transaction costs by 2010. Other issues like energy security will be also discussed on this occasion.

The forum on investment and doing business with Vietnam is defined as the key event to introduce the Vietnamese economy to the world, during which, we will present the country’s international integration itinerary. Especially, as a new member of WTO, we affirm to do at our best to create a favourable business environment to welcome new waves of investment.

Will big contracts be signed on this occasion?

Vietnamese businesses now are ‘hunting’ strategic foreign partners. Meanwhile, foreign businesses are also seeking strategic partners in Vietnam to invest in. I think the APEC week is a big opportunity for local companies to seek and establish ties with strategic partners to enhance their competitiveness in the context of integration.

What will VCCI do after APEC to encourage foreign investment in Vietnam?

To strengthen relations with APEC economies as well as key markets of Vietnam, we have proposed the government form joint business forums with APEC economies.

Around 1,000 CEOs from 21 APEC member economies will participate in the CEO Summit. Among them are CEOs of top world groups like Boeing, FedEx, GM, AIG, Microsoft, Citigroup, DHL, AT&T, HSBC and Visa.

The topic of the APEC CEO Summit 2006 will be “Toward the community, creating new opportunities for development”. During the summit, seven issues will be discussed: promoting creativeness for social and economic development, the challenge of maintaining economic reforms, narrowing the economic gap between APEC members, strengthening assistance to develop small- and medium-sized enterprises, developing information and communications technology, business administration: opportunities and challenges, and FDI attraction.

Apart from speeches delivered by CEOs, some chiefs of state will be invited to talk about issues concerning the world and the region. Organisers said that five of 14 APEC chiefs of state have agreed to participate at the event.

VCCI will choose around 200 Vietnamese companies to attend the CEO Summit and the forum on doing business with Vietnam.


(Source: Tuoi Tre, TBKTVN)

The SMC Trade Investment Joint Stock Company has become the first enterprise of the steel industry to join the HCM City Securities Trading Centre.

The company floated 37,970 shares, code SMC, worth 1.21 billion VND (75,600 USD) on the first trading day on Oct. 30. SMC was the 52nd share listed at the HCM City Securities Trading Centre.

SMC is a distributor and outsourcer of iron and steel, with a capacity of more than 200,000 tonnes and a turnover of almost 2 trillion VND (125 million USD) per year. Its products are used in civil and industrial construction projects.

In 2006, the company issued 2.25 million shares to raise its chartered capital to 60 billion VND (3.7 million USD).

In the next five years, SMC is striving to attain an annual growth rate of 10 percent and account for between four and five percent of the domestic market share.

Source: Vietnam Agency

Mr. Nguyen Dinh Mai, Standing Vice President of Board of Management of Saigon Hi-tech Park (SHTP), spoke about foreign direct investment flowing into the park.

What would you comment on the first four years of operations of the SHTP?

SHTP received special supports from the Central Government and municipal agencies for its development. Particularly, authorities and people of District 9 reserved a site of over 900 hectares for attraction of hi-tech production. Investment from local and overseas sources into production of hi-tech products has been considered “a push” for its first three-year period of operations.

What are achievements in drawing local and overseas investment?

With a 300 hectare site for its first stage of development, investment into the SHTP has exceeded all expectations. Till the end of October 2006, 19 projects were granted licenses, of which 10 projects valued at US$711.5 million were foreign-invested and another 9 projects valued at VND 1,642.6 billion were local-invested. In the first nine months of the year, foreign investment flowing into the SHTP made up over 59% of total foreign investment poured into Ho Chi Minh City.

SHTP managed to attract investment from leading hi-tech corporations such as Intel, HP, Nidec, Sonion, FPT… Intel’s investment project licensed in late February 2006 and valued at US$605 million was considered a breakthrough in investment in SHTP, and a sweet fruit of great efforts in improving the country’s investment environment. The current 5 operational factories located in the park generated around 2,000 jobs. Its export revenue of 2006 is expected to reach about US$80 million.

By 2009, SHTP will totally generate 14,000 jobs and earn approximately US$5 billion in export value.

Upon Vietnam’s accession to the WTO, what would you forecast foreign investment in hi-tech industries of the country in general and SHTP in particular?

In my opinion, Vietnam will definitely become a destination for investors from Japan, Europe and North America. In this context, opportunities and potentials for attraction of investment in hi-tech industries are clearer, particularly with achievements of SHTP in its first 4 years of operations.

What would SHTP do to seize and take full advantage of the coming opportunities, apart from closely coordinating with industries and courting supports of either Central or municipal government?

We plan many to be done. First of all, a site with necessary technical infrastructures should be expanded to draw more investment, boost research and development (R&D) activities… Second, a legal base needed to be created for SHTP’s second stage of development. The Board of Management highly appreciates supports and initiatives given by central and municipal governments in the past 4 years. SHTP expects the government to provide the park with a specific financial mechanism and authorities over development programming.

In its first years of operations, SHTP gained some achievements in R&D. What’s behind this success?

A hi-tech park differs from industrial zones since its goal is to manufacture hi-tech products and promote hi-tech enterprises. This requires time, investment and intelligence either from local or overseas resources. First achievements of SHTP include the liquid nano coal, which is useful in many hi-tech products, including masking materials used in chip production and printed electronics.

Source: Thời báo Kinh tế Việt Nam

1,700 correspondents to follow APEC summit
16:16' 01/11/2006 (GMT+7)

VietNamNet Bridge – Around 1,200 international and 500 local reporters have registered to follow the APEC Week 2006 in Hanoi from November 12-19.

The number is expected to rise. The number of Japanese correspondents is the highest, at nearly 400, followed by the US, at around 300, and Russia and China, at 100 each.

According to the organising board of the APEC summit, 100 cabins for correspondents at the International Meeting Conference have been hired. Tens of other foreign newspapers and news agencies also want to rent cabins but they have all been leased.

Each cabin is around 9sq.m, has one table, two chairs, an Internet gate, a TV and a telephone line, and will be leased for $600 from November 10-20, 2006.

The international press centre at the International Meeting Centre can serve around 800 reporters, with a big press conference room for 400 people and a smaller for 100 people.

(Source: TN)

FPT Telecom to offer optical Internet service
12:38' 31/10/2006 (GMT+7)
Soạn: HA 941377 gửi đến 996 để nhận ảnh này
Photo: hanoipc.evn.com.vn

VietNamNet Bridge - FPT Telecom Joint Stock Co. will officially provide Internet service via optical cables, which is called fiber-to-the-home (FTTH), as of November 1st.

The company said in the initial stage of operation, it will offer services at speeds ranging between 4 and 20 Mbps.

The service will be provided with an installation charge of VND 8 million and a monthly subscription fee of VND3 million , VND6 million , VND 12 million and VND 15 million depending on service packages.

FTTH is a broadband telecommunications system based on fiber-optic cables and associated optical electronics for delivery of multiple advanced services such as the triple play of telephone, broadband Internet and television all the way to the home or businesses.

(Source: VNA)