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CPI of Ho Chi Minh city decreased 0.69% in Nov. For 11 months, HCMC CPI increases 18.58%. CPI in Hanoi increases 1.07%, for 11 months, increasing 23.74%. Due to the historical flood early this month, foodstuffs in Hanoi increases 4.8%.

IMG_1365.jpgGasoline price cut off by 21% between Oct and Nov has been a driving force to keep transportation fee not to increase. Picture: Boat at Bai Tu Long bay

In comparison with same period in 2007, CPI increased by 24.22%, and 23.25% compares to Nov 2007. Though the index still stays high, but by slightly decreasing by the end of the year is an remarkable effort.

Normally, by last quarter of the year, consumption rate is higher, pushing up the demand causing accumulated higher CPI until January or February of the next year, when Tet holidays finished.

Transportation service and construction materials among the baskets keeping CPI from soaring up.
The sustainable retail prices for oils and gasoline with consecutive cutting down since October is also a supportive force.

From Oct 8 to Nov 15, basic gasoline A 92 (favorite for vehicles in transportation service) decreases by 21.2% from VND 16,500 to VND 13,000 per liter.

Gold price index is - 5.4%, while USD price index increased by 2.1%. USD price was making a gap in free market between the second and third week of November.

At the peak point, USD selling in free market was at VND 17,300, while commercial banks remained VND 16.960 at average nominated price per USD./.

Vietnam and Venezuela finish negotiation to set up joint ventures. Vinamotor will set up some joint ventures factory to produce light truck, motor bike and asphalt.

The negotiation is successfully finished between the two parties. Vinamotor Chairman, Mr. Nguyen Van Khoa will continue to set up an MoU for building joint venture companies in Venezuela.



Vinamotor will be first Vietnamese Automobile manufacturer set up factory oversea. Picture: An Ox-cart at fish market in Nghe An province

Vinamotor chairman is in Venezuela in companion with State visit by Vietnamese President Nguyen Minh Triet from Nov 18 to 20.

Mr. Nguyen Van Khoa will meet with representatives from Venezuelan Ministry of Light industry and commerce for further discussion on joint venture contracts.

It is planned that Vinamotor will set up their joint venture factories with Venezuelan counterpart mid 2009.

There will be a light truck factory, capacity 15,600 units per year; a motor bike factory capacity 50,000 units per year and another 100 stations for asphalt mixtures.

Vinamotor - Vietnam Motors Industry Corporation is 100% state owned corporation. Vinamotor mainly produces truck and coaches and operate in infrastructure construction like steel structure, road construction materials./.

Nov 12, Ha Noi - The Vietnam-Japan Joint initiative- 3rd phase was signed today in Hanoi by Vietnamese Minister of Planning and Investment Mr. Vo Hong Phuc, Japanese Ambassador to Vietnam Mr. Sakaba Mitsuo and the Chairman of Japan-Vietnam economic committee Federation of Japanese economic organisation Mr. Kato Susumu.

The 3 rd phase of Vietnam Japan joint initiative action plan will be implemented from Nov 12, 2008 till Nov 2010 in order to improve business environment, and to enhance competitiveness of Vietnam.

The 3 rd phase of Vietnam Japan joint initiative was discussed from July to Nov 2008, partners agreed on 37 articles for 7 groups of action plans: 1) To complete the mechanism of Management board of Japanese Joint-venture companies in Vietnam before the Enterprises Law goes on effect in 2005. 2) To complete procedure for enterprise income tax calculation. 3) To determine harmony relations between employer and employee. 4) To improve road transportation & traffic. 5) To enhance Intellectual Property management. 6) To develop supported industries and 7) To develop electricity supplies network.



"Upon 2 phases implementation, Vietnamese business environment is getting improved", stated Minister of Planning and Investment. Picture: Visitor at Toshiba booth in EIF 2008

"There are issues that should be given solutions in short term such as labor strike control, road transportation enhancement; and for mid term and long term plan, it need to improve supported industries for foreign manufacturers in Vietnam", said Mr. Sakaba Mitsuo, Japanese Ambassador to Vietnam.

As The 3 rd phase of Vietnam Japan joint initiative starts, the Japan Desk is opened today at FIA Foreign Investment Agency, ministry of Planning and Investment.

The Japan Desk, suggested by Vietnam, will be the support agent during the implementation of The 3 rd phase of Vietnam Japan joint initiative. "The Japan desk is also the agent that Japanese investors and enterprises can consult if they face the difficulty in Vietnam", said Minister of Planning and Investment Vo Hong Phuc.

The implementation of 3 rd phase of Vietnam Japan joint initiative will finished in Nov 2010, with mid period appraisal in Nov 2009 and final appraisal in Nov 2010. The first phase of Vietnam Japan joint initiative was implemented in 2004-2005 with 125 articles of solution; the second phase was in 2006 - 2007 with 80 articles of solution./.