Thu, Dec 15, 2005 - Page 11 News List

Business Briefs

AGENCIES

Kenmark to invest in Vietnam

Taiwan's Kenmark Industrial Co (立港實業) has agreed to invest US$500 million in several projects in an industrial zone in northern Vietnam's Hai Duong province, an official said yesterday.

"Under a memorandum of understanding signed recently, the group will invest US$500 million in some projects in Hai Duong [50km northeast of Hanoi]," said Nguyen Xuan Doan, an official of the provincial investment department.

Kenmark last week received its first investment licence to build a plant for producing modern TV screens, he told reporters, but did not specify how much the project was worth.

However, the English-language Vietnam News daily said this first project had a total capital of US$180 million.

Taiwanese firms are the top foreign investors in Vietnam, with registered capital of US$8.5 billion as of the middle of last month, according to the planning and investment ministry.

Hot springs water to be taxed

The Ministry of Economic Affairs will levy a supply fee on hot-springs water suppliers starting on Jan. 1, officials said on Tuesday.

The supply fee will be NT$9 per tonne, but it will be halved to NT$4.50 during the first two years of the policy's implementation, the officials said.

The Water Resources Agency currently only has the records of 245 suppliers, with more than 50 percent of the suppliers who actually make a profit by selling the natural resource to hot-springs bathhouse operators yet to be identified, they said.

They estimated that the government will be able to collect NT$50 million (US$1.5 million) to NT$60 million in supply fees next year.

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