Steelmakers adjust prices for second time this month

HA NOI — Since early March, domestic steel makers have adjusted the steel price twice, with a total increase of VND600,000 per tonne, according to the Viet Nam Steel Association.

Hoa Phat Group's steel saw price rise between VND200,000 (US$10.4) and VND300,000 ($15.7) per tonne, Viet Nam-Italia Company's steel price went up by VND400,000 per tonne and Van Loi steel price increased from VND500,000 ($26.1) to VND600,000 per tone. Meanwhile, the hike of retail prices for steel ranged between VND100,000 ($5.2) and VND300,000 per tonne against the hike of steel prices offered from manufacturers.

Saigon Atlantis Hotel gets more land for development

BA RIA-VUNG TAU — Winvest Investment in Viet Nam, the investor of the Saigon Atlantis Hotel project in the southern province of Ba Ria-Vung Tau, has been further allocated another 37ha of land.

As a result, the US$4.1 billion project has been allocated 80ha of land, for a total area of 300ha on land and 600ha on the sea after two years. The project was licensed in 2006 with a total capital of $300 million. It then increased to $4.1 billion last year.

Ministry issues guide to VAT refunds on exports

HA NOI — The Ministry of Finance has given instructions on value added tax (VAT) refund procedures to be applied to exported mandated goods.

The entrusted export enterprises must present relevant documents such as copies of export contracts, customs declarations and bills at banks to be checked out.

Ground breaks on Cam Ranh shopping centre

KHANH HOA — Cam Ranh Automobile Transport Services JSC and Saigon Co-op Investment Development JSC started construction on the Cam Ranh Trade Centre, with a total investment capital of VND42 billion (US$2.2 million).

The trade centre will cover 6,300sq.m, consisting of a central area, carpark, supermarket, fastfood shops and a book store.

The trade centre is expected to be operational by 2011.

Factory to make elastics in Dak Lak Province

Dak LaK — Dak Lak Rubber Co held a groundbreaking ceremony for its elastic-making factory in Hoa Phu industrial zone in the Central Highland province of Dak Lak last Wednesday.

The factory will occupy a 4ha area, and will include a workshop, office and warehouses.

The total investment is US$10 million. The factory is due to open in 12 months' time. It will be able to produce 4,000 tonnes of elastic a year.

Rubber latex processing faciltiy opens in Laos

HA NOI – Viet-Laos Rubber JSC has started work on a rubber latex processing factory in Pakse District, in Laos's southern Champasak Province.

The factory, which has an investment capital of VND68 billion (US$3.57 million), will be able to produce 15,000 tonnes of rubber a year. It is expected to be operational by the end of this year. — VNS