NEWSLETTER 22/2011
Obsah R ...... 3
AFRICAEJSTŘÍK ...... KLÍČOVÝCH SLOV OBSAŽENÝCH...... VE ZPRÁVÁCH ...... 5
Africa Reveals its Stand on Climate Financing ...... 5 African Ministers call for increased transport infrastructure for economic development ...... 6 Ozwald Boateng sets up new charity to fund African infrastructure projects ...... 7 Corruption is getting worse in Southern Africa / New survey from Transparency International shows the police are seen as most corrupt ...... 8 Africa Trade Forum (ATF) 2011 / “Accelerating Intra-African Trade and Enhancing Africa’s participation in Global Trade” ...... 9 Energy Efficiency and Renewable Energy: Challenges and Opportunities in Egypt’s Industrial Sector ...... 11 World Bank Supports Morocco’s Bold Solar Power Plans...... 11 E ...... 13
THIOPIACabinet Approves City Restructuring...... 13 Salini Aims to Make CBE HQ its First Building in Ethiopia ...... 14 The thirsty town of historic Harer has got water ...... 15 Saada Hassen has a community water pipe a few metres from her house...... 17 Italy / Cooperation: water and health, new projects in Ethiopia ...... 18 Ethio-German Konnect Opens in Addis Ababa ...... 19 Ethiopia Boost Budgt 39 Percent; Defense Gets Two Billion Birr Additional ...... 20 Southern Road Projects Soar ...... 21 Adama Pumped up with 300m Br in Public Construction ...... 21 Somali State to Soak up 260m Br for Water Scheme ...... 21
ASIA ...... 21
...... 21 Indian consortium wins $10bn Afghanistan mines deal ...... 21 AFGHANISTAN Sweden increases its civilian aid to Afghanistan ...... 22 Afghanistan pleased with revived IMF credit ...... 22 World Bank Issues Alert on Afghanistan Economy ...... 23 M ...... 24
ONGOLIAPresident Ts.Elbegdorj receives EU ambassadors ...... 24 Prophecy Coal receives Chandgana thermal power plant license from Mongolian authorities ...... 25 The President will appoint the next ACA Chief ...... 26 First Deputy Prime Minister met with David Cameron ...... 26 New Railway Project is spurred by the Cabinet ...... 26 Mongolia: Construction potential ...... 27 ...... 28 Top 1,000 corporate taxpayers published ...... 28 VIETNAM EVN’s tragic business results released ...... 29 NA deputies want better minimum wage, same overtime ...... 30 Vietnam-Kansai economic forum opens in Danang ...... 31 Hanoi hosts three ICT expos ...... 32 Vietnam expects ODA disbursement at $3.65bln in 2011 ...... 33 Vietnam needs $1 bln per year for power transmission projects ...... 33
EASTERN EUROPE ...... 34
TAP wants to be taken out of 3rd Energy Package scope ...... 34 Iran-Armenia Power Transmission Line to Reach Georgia ...... 35 ...... 35 Republic of Azerbaijan- Concluding Statement of the 2011 Article IV Consultation Mission ...... 35 AZERBAJDŽÁN Ukraine willing to give Azerbaijan 50% discount at Pivdenny oil terminal ...... 38 Turkey to carry Azeri gas to Europe ...... 39 ...... 39 Belarus to get loan from Russia to build nuclear power plant ...... 39 BELARUS IMF sees no Belarus loan talks this year ...... 40 Strengthening trade ties between Vietnam and Belarus ...... 40 Belarus looks toraise atleast $3.7 bln innet foreign investment in2012...... 41 The World Bank has recommended the Belarusian authorities carry out complex budget reforms ...... 42 Power line to export Russian electricity to Poland might be built by 2015 ...... 43 G ...... 44
EORGIACzech firm Zetor to open assembly plant in Georgia ...... 44 China to invest $150 mln in creation of economic zone in Georgia ...... 45 ADB to extend Georgia $40 mln for water-system upgrade ...... 45 Georgia to receive foreign loans to develop infrastructure ...... 46 Georgian debt to Azerbaijan amounts to $13.6 million ...... 46 Electricity consumption in Georgia rises 8% in Jan-Sept ...... 46 Georgia proposes $850 mln HPP cascade project ...... 47 Poll of interests announced ...... 47 2 PM: 13,000 people to become employed due to plant construction in Georgia ...... 48 Georgia announces int'l pipe tender for pipeline ...... 48 BP launches new project to support agricultural development in neighbouring communities...... 49 Investments in Georgia to reach $1 bln by late 2011 ...... 49 Baku-Tbilisi-Kars railway construction progresses on schedule ...... 50 Georgian PM, Commerzbank discuss specific business projects...... 50 M ...... 51
OLDOVAMoldova, Trans-Dniester to talk again next year ...... 51 ...... 51 Government revises project of Terminal D construction at Boryspil airport ...... 52 UKRAINE Rada planning to regulate investment activity in housing and utilities sector ...... 52 Vestas sells wind turbines for Ukrainian power project ...... 52 Kyiv to develop long-term municipal energy plan ...... 53 Ukraine, Hungary planning to step up economic cooperation ...... 53
BALKANS ...... 53
...... 54 Albanian premier announces "biggest private project" in energy sector ...... 54 ALBANIA ...... 54 Statement by IMF Mission to Kosovo ...... 54 KOSOVO ...... 55 US, EU draft new reform plan for Bosnia BBC Monitoring European [London] 05 Dec 2011...... 55 BOSNIA Gazprom discusses possible South Stream branch toRepublika Srpska ...... 57 Iran to invest 13m euros in modernization of Bosnian railroad network ...... 58 ...... 58
SERBIA Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
Serbia open to proposals on more gas pipeline construction projects - diplomat ...... 58 Premier says Serbia ready to support regional energy network ...... 59 ...... 59 Sweden's assessment of multilateral organisations ...... 59 DÁRCI ...... 60
OSTATNÍIran Kicks Off Conference on Investment Opportunities ...... 60 Ewa Björling in New York: the UN should buy more from Swedish companies ...... 60 Israel signs water agreements with Taiwan, Kenya ...... 61
R bilaterální spolupráce energetika větrná EJSTŘÍKÁzerbajdžán, KLÍČOVÝCH Gruzie SL ...... OV OBSAŽENÝCH 46 VE ZPRÁVÁCHUkrajina, reg.Kherson ...... 52 Čína, Gruzie ...... 45 firmy Indie, Afghanistán ...... 22 Atlantic Energy ...... 7 UK, Mongolsko ...... 26 Azerbaijan Railways ...... 50 USA, BiH ...... 55 Beltransgaz ...... 39 dárci Electricity of Vietnam Group (EVN) 29 Agence Française de Développement . 12 Energo-Pro ...... 44 CIDA ...... 10 Gazprom ...... 39 Clean Technology Fund - WB ...... 12 Georgian Oil and Gas Corporation .. 48 European Union Neighborhood Kabul Bank ...... 22 Investment Facility...... 12 Mechel ...... 39 World Bank ...... 23, 42 Prophecy Coal Corp...... 25 ekonomika Vestas Central Europe ...... 53 Ázerbajdžán ...... 35 Vindkraft ...... 53 Bělorusko ...... 40, 42 Zetor ...... 44 Kosovo ...... 54 3 hydroenergetika ekonomika - vývoj Gruzie ...... 44, 48 Afghanistán ...... 23 Gruzie, Namakhvani elektrárna ..... 47 elektrárna solární hydroenergetika - projekt Maroko ...... 11 Gruzie ...... 47 energetická spolupráce informační technologie Turecko, Srbsko ...... 59 Vietnam ...... 32 energetika infrastruktura BiH ...... 57 Afrika ...... 6 jihovýchodní Evropa ...... 34 Etiopie ...... 21 Mongolsko ...... 25 infrastruktura - financování Srbsko ...... 59 Afrika ...... 7 Turecko ...... 39 infrastruktura - letiště Vietnam ...... 29 Ukrajina ...... 52 energetika - infrastruktura infrastruktura - rozvoj Ázerbajdžán ...... 38 Afrika ...... 6 plynovod ...... 34 infrastruktura - silnice energetika - projekt Etiopie ...... 21 Albánie ...... 54 instituce energetika - rozvoj African Development Bank ...... 10 Afrika ...... 11 African Trade Policy Centre (ATPC) 10 energetika - sítě ...... 35 European Investment Bank ...... 12 Bělorusko ...... 43 IMF ...... 22 Írán, Arménie ...... 35 International Monetary Fund ...... 40 Vietnam ...... 33 Kreditanstalt fur Wiederaufbau .... 12 energetika - spotřeba elektřiny Made In Africa Foundation ...... 7 Gruzie ...... 46 NEPAD ...... 6 Transparency International ...... 8 energetika jaderná Bělorusko ...... 39 UEMOA ...... 6 UNIDO ...... 11 energetika municipální Ukrajina, Kyjev ...... 53 investice zahraniční Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
Bělorusko ...... 41 Itálie, Etiopie ...... 18 Gruzie ...... 49 Maďarsko, Ukrajina ...... 53 investiční projekt Německo, Etiopie ...... 19 Gruzie ...... 44 Švédsko, Afghanistán ...... 22 investiční příležitosti stavebnictví Írán ...... 60 Mongolsko ...... 27 klimatické změny stavebnictví - projekt financování ...... 5 Addis Abeba ...... 13, 14 Ukrajina ...... 52 korupce Mongolsko ...... 26 strategie energetická Egypt ...... 11 obchodní podmínky Afrika ...... 9 strategie rozvojová - doprava Afrika ...... 6 obchodní spolupráce Ázerbajdžán, Ukrajina ...... 38 těžební průmysl Maďarsko, Ukrajina ...... 53 Afghanistán ...... 22 Ouarzazate solar projekt vodárenství, sanitace Maroko ...... 12 Asie, Afrika ...... 61 Etiopie ...... 16, 18, 21 podnikatelské podmínky Ukrajina ...... 52 vodárenství, sanitace - Vietnam ...... 30 rekonstrukce podnikatelské prostředí Gruzie ...... 45 Vietnam ...... 28 zemědělství - projekt podpora podnikání Gruzie ...... 49 Gruzie ...... 50 zóna volného obchodu podpora politická Gruzie ...... 45 Švédsko v OSN ...... 60 zóny volného obchodu politika vnitřní Afrika ...... 10 Moldavsko, Podněstří ...... 51 železnice privatizace Mongolsko ...... 26 4 Bělorusko ...... 41 železnice - modernizace rozvojová spolupráce BiH ...... 58 dárci, Vietnam ...... 33 železnice - projekt EU, Mongolsko ...... 25 Baku-Tbilisi-Kars ...... 50 Írán, BiH ...... 58
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R S F AFRICA NEWFRICA BUSINESS EVEALS ETHIOPIA ITS TAND, 29ON NovemberLIMATE INANCING2011 ABY REPORTER C African Group of Negotiators today made a strong argument for the need to have agreed benchmarks on climate finance, so as to foster transparency and accountability in the way the money is provided and used. A new report released on the sidelines of the COP17 that began here yesterday (November 28, 2011) in Durban, South Africa, released up-to-date figures on the current provision of climate finance for Africa and reveals the abysmally low levels of delivering on global climate change finance promises.
Researched and written for the African Group of Negotiators by the African Climate Policy Centre (ACPC) of the UN Economic Commission for Africa (ECA), the report also shows that current finance available for Africa and other developing countries under the fast-start finance is not commensurate to the scale required to implement the activities agreed to in the UN climate convention.
For example, the report points to the 29.2 billion US dollars pledged since 2009, and states that only between 2.8 and 7.0 billion US dollars is “new” or not previously pledged. This means that the total amount of funds that are both ”new” and “additional”, that is on top of aid budgets, would be less than $2 billion, it states.
While 97 percent of the promised 30 billion US dollars has been pledged, only 45 percent has been “committed”, 33 percent has been allocated, while a mere 7 percent 5 has actually been disbursed, the report further reveals.
Finance is being directed toward mitigation projects over adaptation projects, and instead of seeking a minimum of balance, “around 62 percent of the money has been poured into mitigation and only 25 percent is earmarked for adaptation and 13 percent for REDD+ (forestry, which should count as mitigation), the report states.
It points to several lessons that can be learnt from the current ‘fast start finance’ system, which was supposed to deliver 30 billion US dollars in “new and additional” funding to developing countries, as agreed upon at the Copenhagen climate conference (COP15) in 2009.
Launching the report, Yacob Mulugetta, Senior Energy and Climate Specialist at the ACPC said that “the experience with the “fast-start” pledges and discussions of the 100 billion US dollars promise suggests that the adequacy and predictability of climate finance may remain very uncertain if the future climate finance architecture reflects current practice.
“African countries, as well as many other developing countries, are vulnerable to climate change and are among those least likely to have the resources required to withstand its adverse impacts. Yet, there has not been any indication that the magnitude of climate finance will get to the level of what is needed”, Seyni Nafo, Spokesperson of the African Group bemoaned.
He pressed the case for long-term climate finance to be made more accountable and transparent, adding that “in Africa, we need to know how much is new, where it is coming from, and whether it will be directed towards adaptation projects that are desperately needed in Africa.”
The African Group is the group of 53 African countries represented in the UN climate change negotiations. It is chaired by Mr. Tosi Mpanu Mpanu of the Democratic Republic of the Congo. Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
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FRICAN INISTERS CALL FOR INCREASED TRANSPORT INFRASTRUCTURE FOR ECONOMIC DEVELOPMENT ALUANDA, Angola, November 25, 2011/African Press Organization (APO)/ — The Second Session of the African Union Conference of Ministers of Transport (CAMTII) was held today, 24 November 2011, in Luanda, Angola. Under the theme: consolidating the transport sector for the stimulation of Economic Integration in Africa”, the Ministers gathered to adopt the programme for Infrastructure Development in Africa (PIDA) transport component; and to review implementation of the various sub-sector plans of action, among other issues.
CAMTII was organized by the Africa Union Commission (AUC) and hosted by the Government of Angola. It was attended by Ministers of AU Member States, Regional Economic Communities (RECs), NEPAD Planning and Coordinating Agency (NPCA), Economic Community of Central African States (ECCAS), Southern Africa Development Community (SADC), West African Economic and Monetary Union (UEMOA), development partners, UN agencies, International Civil Aviation Organization (ICAO), and other organizations.
The meeting considered the experts session report, 21-23 November 2011, which was mainly focused on Programme for Infrastructure Development in Africa (PIDA) and implementation of plans of action in the transport sub-sectors: such as;
- Air transport- (African Civil Aviation Policy, aviation safety and security and environment protection);
- Maritime transport (African Maritime Transport Charter, port management and 6 development);
- Land transport (development of transport corridors, facilitation of transit transport and improvement of road safety).
“We are all aware of the overall state of transport infrastructure and services in Africa. In most of our countries, transport has become a constraint rather than a facilitator of economic development. The biggest challenge for the continent to be competitive and combat poverty more effectively is to reduce transport costs to the world average”, said Dr. Elham M.A. Ibrahim, Commissioner of Infrastructure and Energy at the African Union Commission, during the opening session of CAMTII.
The Commissioner informed participants that AUC, in collaboration with development partners and Regional Economic Communities (RECs) is working to ensure implementation of outstanding regional and continental transport programmes, which has already been formulated. She further went on “the African Union Commission and its partners have finalized the elaboration of the Programme for Infrastructure Development in Africa (PIDA)”, which covers four areas: transport, energy, information and communication technology (ICT) and trans-boundary water. (the complete speech of the commissioner is available on www.au.int
PIDA is an ambitious and achievable programme for the interconnection and upgrading of infrastructure networks, capable of contributing to the creation of the African Economic Community announced for 2028 by the Abuja treaty of 1991.
The Minister of Transport in the Government of Angola, Dr. Augusto da Silva Tomas, addressed participants at CAMTII, highlighting economic integration as important milestone for the development of infrastructure in Africa. This great exponent of modern economic thinking defines “integration” as the “process of elimination of discrimination between different economic units belonging to different national states” – which facilitates and promotes territorial and economic cohesion among
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
them, on the basis of cooperation, solidarity and mutual aid, and concurrently ensures sustainable social progress, he said.
According to Mr. Roberto Kobeh Gonzalez, President of Council of the International Civil Aviation Organization (ICAO), “Between 2000 and 2010, the number of air carriers in Africa went from 325 to 431, a 33 percent increase, while the total number of aircraft increased by 49 percent, from 1282 to 1908″. Acknowledging the impressive progression on the continent, he however added “still, air transport in Africa holds tremendous potential for growth, with enormous benefits in terms of economic and social development”, he underscored.
Mr. Gonzalez highlighted that as Africa moves towards liberalization, focusing on the improvement of the aviation industry, safety is a must. In this regard, “of the 121 accidents worldwide last year, 17 were in Africa, 3 of them being fatal accidents”, he recalled.
The Conference of African Ministers of Transport was established as a statutory meeting of the African Union by the Assembly of Heads of State and Government in July 2008 with the adoption of its Rules of Procedure.
SOURCE African Union Commission (AUC)
ZWALD OATENG SETS UP NEW CHARITY TO FUND FRICAN INFRASTRUCTURE PROJECTS O B A LONDON, United-Kingdom, November 22, 2011/African Press Organization (APO)/ — African visionary and international designer, Ozwald Boateng, in collaboration with Nigerian 7 businessman, Kola Aluko, and Nigerian oil and gas company, Atlantic Energy Drilling Concepts Limited (“Atlantic Energy” – http://www.atlanticenergy.com), has agreed to establish a multi-million dollar charitable organisation, Made In Africa Foundation, to focus on first-stage funding of infrastructure projects in Africa.
Logo Atlantic Energy: http://www.atlanticenergy.com/images/logo.png
Logo Made in Africa: http://www.apo-mail.org/madeinafrica.jpg
The Foundation will provide “first mile” finance to Africans and African businesses involved in the development of major infrastructure projects in the region. Finance will be awarded for the drafting of feasibility studies and business plans ahead of seeking project finance from sources such as private equity, development finance institutions and commercial banks.
Infrastructure development is the key factor in the transformation of sovereign economies from developing to emerging market status. According to the International Finance Corporation, the estimated financing requirement to close Africa’s infrastructure deficit amounts to US$93 billion annually until 2020. Much of this money is available, but it cannot be applied until the requisite business plans and feasibility studies have been developed to enable capable sponsors and funding to come together. A lack of capital to get to this stage has meant that many opportunities have not been pursued and few projects have been undertaken by Africans or African businesses.
Made In Africa Foundation and Atlantic Energy plan to initially finance independent power project feasibility studies across Africa, and the Ugandan urban renewal master plan for Kampala’s Naguru Nakawa redevelopment.
Ozwald Boateng commented: “It’s a well-known statistic that US$400 million of funding for feasibility studies and master plans across sub-Saharan Africa would develop over Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
US$100 billion of infrastructure projects, which in turn would create a trillion dollars of value across Africa. The first step is often the hardest and we have created this Foundation with Atlantic Energy to make that step easier for Africans.”
Dayo Okusami, General Counsel and Executive Director of Atlantic Energy, added: “Atlantic Energy’s philosophy is based on the pillar of Enduring Commitment − an abiding promise towards corporate responsibility for the sustainable development of infrastructure projects in Nigeria and others parts of Africa. Atlantic Energy is pleased to be a founding donor and supporter of this exceptional charity and we look forward to fostering a continent-wide push for sustainable infrastructure development. In this regard, Atlantic Energy Drilling Concepts Limited has committed to underwrite US$7 million for the independent power project feasibility studies, the Ugandan urban renewal master plan, as well as the Foundation’s running costs for the first three years.”
Distributed by the African Press Organization for Atlantic Energy.
About Made In Africa Ltd:
Made In Africa Ltd was founded in 2006 by Ozwald Boateng, Chris Cleverly and Pr. Hassan Kimbugwe. It is a Mauritius-based company dedicated to bringing innovative ideas and capital to Africa. Made In Africa co-hosted with former Ghanaian President Kufor the State Banquet for Ghana’s African Union conference, and the UK’s Department for International Development 2010 Whitehall conference on Growth Corridors. Made In Africa continues advise governments, including that of the UK Prime Minister David Cameron, on infrastructure, innovation and development finance.
About Atlantic Energy:
8 Atlantic Energy (http://www.atlanticenergy.com) is a private upstream oil and gas group founded by Nigerian and international exploration and production (“E&P”) executives with an extensive track record and experience in the Nigerian E&P sector. The company currently operates in Nigeria and is dedicated to its partners and communities through its Enduring Commitment sustainability program.
Atlantic Energy Drilling Concepts Limited is a significant partner in upstream oil and gas assets in Nigeria.
Media Contact: +41 22 534 96 97 [email protected] SOURCE Atlantic Energy
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CORRUPTION IS GETTING WORSE IN OUTHERN AFRICA NEW SURVEY FROM RANSPARENCY NTERNATIONAL SHOWS THE POLICE ARE SEEN AS MOST CORRUPT IBERLIN, Germany, November 22, 2011/African Press Organization (APO)/ — Corruption is getting worse in Southern Africa and most people pay bribes for public services (Transparency International).
New survey from Transparency International shows the police are seen as most corrupt.
More than half of all those who come in contact with public service providers – 56 per cent – were asked to pay a bribe in the past year, according to a new survey of six Southern African countries published by Transparency International (http://www.transparency.org), the anti-corruption organisation.
Logo: http://www.apo-mail.org/Transparency_International.jpg
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The survey also found that across the region 62 per cent of people believe corruption has become worse in the past three years.
Daily Lives and Corruption, Public Opinion in Southern Africa surveyed more than 6,000 people in the Democratic Republic of Congo (DRC), Malawi, Mozambique, South Africa, Zambia and Zimbabwe between 2010 and 2011.
The good news is that 80 per cent of those interviewed said they were prepared to get involved in the fight against corruption and three-quarters said ordinary people can make a difference in the fight against corruption.
“Governments must wake up to the fact that people will not tolerate corruption any more and start reforming weak institutions, particular the police. People have a right to feel that they are protected by the police and not harassed,” said Chantal Uwimana, Regional Director for Africa and the Middle East at Transparency International. The report found that people in all six countries named the police as the most corrupt service provider of the nine featured in the survey and that most bribes were paid to the police.
The results showed some regional differences. In four out of the six countries people reported paying bribes to speed up services but in South Africa and the DRC more bribes were paid to avoid problems with the authorities.
In five of the six countries people trusted the government more than non-governmental organisations, the media, international organisations or the private sector to fight corruption. In Malawi, however, non-governmental organisations were trusted just as much as the government. 9 Distributed by the African Press Organization on behalf of Transparency International
Transparency International (http://www.transparency.org) is the global civil society rganisation leading the fight against corruption.
Note to editors: The survey asked questions concerning the following nine pubic services: police, judiciary, customs, registry and permit services, land services, medical services, tax revenues, utilities and education.
Table: Percentage of respondents who have paid a bribe to one of 9 service providers
To view the table, click on this link: http://www.apo-mail.org/111122.jpg Media contact: Maputo: Milton Machel +258827008345 [email protected] Berlin: Thomas Coombes +4930343020666 [email protected]
T F 2011 / - T E ’ G T ” AFRICA RADE ORUM (ATF) “ACCELERATING INTRA AFRICAN RADE AND NHANCING FRICA S PARTICIPATION IN LOBAL RADE AobchoADDIS ABABA, Ethiopia, November 23, 2011/African Press Organization (APO)/ — The inaugural Africa Trade Forum (ATF) 2011 started at the United Nations Conference Centre (UNCC) in Addis Ababa today with the strategic objective of promoting multi- stakeholder policy dialogue on trade issues in Africa, by mobilising all the different trade constituencies across Africa and the world in general, to debate and
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
exchange views on all the key issues relating to intra-African trade, and Africa’s trade with the rest of the world.
One of the specific objectives of the Forum is to discuss and agree on specific inputs into the African Ministerial Conference on Trade, as well as the African Union Heads of States Summit scheduled for January 2012, on the theme “Boosting Intra- African Trade”.
In his opening remarks the Deputy Chairperson of the African Union Commission, Mr. Erastus Mwencha, recalled the determination of African Trade Ministers at their meeting in Kigali, October last year, to fast track the Continental Free Trade Area. He further recalled the decision of the Heads of States to dedicate their January 2012 Summit to boosting intra-African Trade. Mr. Mwencha underscored that the Forum is a rare opportunity that brings together a large multi-sector stakeholder base, to discuss critical issues of intra-African trade. He assured that “the AUC is keenly looking forward to the outcomes of the Forum, which will provide guidance on shaping the work programmes of both the AUC and UN Economic Commission for Africa (ECA) in trade and integration matters.”
The UN Under-Secretary-General and Executive Secretary of ECA, Mr. Abdoulie Janneh, in his opening remarks underscored that “with intra-Africa trade at just about 11% of total trade as compared to 72% in Europe and 52 % in Asia, it is evident that there is a lot of scope for expansion in regional trade.” He further stated the importance of the inaugural forum, which he said provides an opportunity to build on the success stories in intra-African trade in spite of various constraints.
The Resident Representative of the African Development Bank, Mr. Lamin Barrow, on his part stated that what is needed to improve intra-African trade has already been agreed upon in the context of numerous trade agreements and protocols spearheaded by 10 the Regional Economic Communities but what is missing is vigorous implementation of these agreements and protocols.
The Minister of Industry of the Federal Government of Ethiopia, Mr. Mekonnen Manyazewal, advised that to improve Africa’s share and benefit from the global trade, the continent has to address the supply side constraints on four major fronts: move forward from trading primary products to manufacturing products, invest in human capital, improving infrastructure & logistics and institutional capacity building. He further stressed and suggested that these should be the major discussion points of the Forum.
The Forum is organized by the African Trade Policy Centre (ATPC), an initiative of the United Nations Economic Commission for Africa with funding support from the Canadian International Development Agency (CIDA), in collaboration with the African Union Commission (AUC), African Development Bank (AfDB) and other partners.
Participants to the Forum are drawn from policy makers and high level government officials, private sector operators, civil society, parliamentarians, development partners, academia and researchers, RECs, development corridor management institutions, export promotion agencies, and the media.
The inaugural Africa Trade Forum (ATF) 2011 will end on November 24. For more information, please visit the AU Website www.au.int and the UNECA website www.uneca.org SOURCE African Union Commission (AUC)
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
E E R E : E ’ S NERGY FFICIENCY AND ENEWABLE NERGY CHALLENGES AND OPPORTUNITIES IN GYPT S CAIRO,NDUSTRIAL Egypt, ECTOR November 16, 2011/African Press Organization (APO)/ — In the context of Ithe 2011 Celebration of the Africa Industrialization Day under the theme “Tackling Energy Poverty in Africa”
On Thursday the 17th of November 2011 the United Nations Industrial Development Organization (UNIDO) Egypt is hosting the annual celebration of the Africa Industrialization Day (AID) under the theme of “Energy Poverty in Africa” at the Grand Hayatt in Garden City, Cairo.
With soaring global crude oil prices, economies across Africa are suffering from rising energy costs. These rising costs place serious strains on already fragile national budgets undermining the prospects for economic development and offsetting hard-fought gains from poverty reduction programs, international development aid and debt-relief efforts.
Egypt, while known to be in a relatively better position among African’s countries, is not unaffected by these challenges. A rising gap in meeting the population’s energy needs is apparent and access to energy can become a national security risk. Accordingly, fossil fuels are a highly subsidized commodity on Egyptian markets, placing significant strain on the government budget.
In an attempt to tackle this problem, Egypt’s energy strategic framework has recently adopted Renewable Energy (RE) and Energy Efficiency (EE) policy options. RE and EE projects and associated practices have shown success and are continuously growing in different sectors. However, efforts to set quantifiable objectives and develop an adequate economic, political and legislative environment are to be stepped up.
11 At the AID 2011, UNIDO aims to promote the discussion and exchange on these issues which are crucial for the economic and industrial development of the country. In a number of
sessions, government officials, members of international organizations as well as private sector representatives will address the importance of the policy environment affecting the renewable energy sector, EE & RE potential in Egypt, opportunities & challenges for local manufacturing, regional cooperation, financing RE & EE in Egypt, as well as the experience of the international development agencies.
SOURCE United Nations Industrial Development Organization (UNIDO)
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ORLD ANK UPPORTS OROCCO S OLD OLAR OWER LANS WWASHINGTON,B November 18, 2011/AfricanB PressP OrganizationP (APO)/ — The World Bank today approved $297 million in loans to Morocco to help finance the Ouarzazate Concentrated Solar Power Plant Project, taking a historic step toward realizing one of the first large-scale plants of this kind in North Africa to exploit the region’s vast solar energy resources.
With this approval from the Bank’s Board of Executive Directors, Morocco takes the lead with the first project in the low-carbon development plan under the ambitious Middle East and North Africa Concentrated Solar Power (CSP) Scale-up Program. A $200 million loan will be provided by the International Bank for Reconstruction and Development, the part of the Bank that lends to developing country governments, and another $97 million loan will come from the Clean Technology Fund.
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“The World Bank is proud to provide the financing needed to make this large-scale renewable energy investment possible,” said World Bank Group President Robert B. Zoellick. “Ouarzazate demonstrates Morocco’s commitment to low-carbon growth and could demonstrate the enormous potential of solar power in the Middle East and North Africa. During a time of transformation in North Africa, this solar project could advance the potential of the technology, create many new jobs across the region, assist the European Union to meet its low-carbon energy targets, and deepen economic and energy integration in the Mediterranean. That’s a multiple winner.”
The 500 megawatt (MW) Ouarzazate solar complex, as the first power site, will be among the largest CSP plants in the world and is an important step in Morocco’s national plan to deploy 2000 MW of solar power generation capacity by 2020.
The World Bank has supported Morocco’s national Solar Power Plan since it was launched in 2009 and is now making this significant loan to co-finance the development and construction of the Ouarzazate Project Phase 1 parabolic trough plant through a Public Private Partnership between the Moroccan Agency for Solar Energy (MASEN) and a private partner. Ouarzazate Phase 1 will involve the first 160 MW and will help Morocco avoid 240,000 tons of CO2 equivalent a year.
The Ouarzazate project will also contribute to Morocco’s objectives of energy security, job creation, and energy exports. As a regional frontrunner in clean energy, Morocco is rising to the challenge of its international commitments made in the last two United Nations’ climate summits and under the “Union for the Mediterranean.”
“The Ouarzazate first phase is a key milestone for the success of the Moroccan solar program,” said Mustapha Bakkoury, President of MASEN. “While answering both energy and environmental concerns, it provides a strong opportunity for green growth, green job creation, and increased regional market integration. It will pave the way for the 12 positive implementation of the regional initiatives sharing the same vision (Mediterranean Solar Plan, Desertec Industry Initiative, Medgrid, World Bank Arab World Initiative). The support of international financial institutions, like the World Bank, through development financing but also climate change dedicated financing, is essential to help bring the overall scheme to economic viability,” added Bakkoury.
The Ouarzazate loan is in line with the World Bank’s commitment to scaling up funding that helps developing countries cope with climate change and embark on a low-emission development path. The World Bank Group’s renewable energy portfolio increased from a total of $3.1 billion between fiscal years 2008-09 to $4.9 billion in 2010-11. Given the simultaneous expansion of the overall energy portfolio during the same period, the renewable energy proportion rose from 20 percent to 23 percent.
About the project: The World Bank, the Clean Technology Fund, the African Development Bank, the European Investment Bank, the Agence Française de Développement, European Union Neighborhood Investment Facility, and the Kreditanstalt fur Wiederaufbau are working with MASEN and a competitively selected private partner to implement Ouarzazate I. SOURCE The World Bank
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E R THIOPIA ABINET PPROVES ITY ESTRUCTURING AddisC Fortune,A 27.11.C 2011
To appoint two deputy mayors to protect process from political revolving, establish new offices,amalgamate old ones
As Addis Abeba kicks off its celebration of the 125th anniversary of its foundation, the city administration is to see major restructuring with the establishment of new entities, amalgamation of old ones and changes to the supervisory role of the mayor.
The Addis Abeba Cabinet approved the restructuring on November 10, 2011, based on a study conducted by a committee of eleven. It came as a result of the land development and management policy of the Ministry of Urban Development & Construction (MoUDC).
The study focused on the land management cycle and on creating new institutional frameworks for the city. With the restructuring, new bureaus will be set up while existing ones will be restructured.
Two deputy mayors will be appointed to run the different offices that will be created, such as the Land Development Management Bureau, which is yet to be established, according to the study.
The restructuring will be managed by the deputy mayor and subordinate managers, the study recommended. This is to avoid changes that may occur as the mayor, who is politically appointed, changes whenever a party changes, the committee members stated in justification of the change. 13 However the establishment of the Land Development Management Bureau, which is proposed to be established outside of the city government, is to occur during the 2012/13 fiscal year , along withthe appointments of the two deputy mayors.
The implementation has been held back because it requires an amendment to the city establishment charter. It will change 80pc of the current city structure and will need a lot of time, according to Aderajew Tsegaye, integrated transformation and implementation office team leader of the city administration.
“The amendment is to be tabled for discussion to the cabinet before presented to the City Council for approval,” he told Fortune.
Once the Land Development Management Bureau is established, the Construction Permit & Control Authority will fall under it. Plan Land Administration & Technology Institute, Land Development Bank, City Renewal Enterprise, Immoveable Property Valuation & Market Services, Integrated Land Information Project, and Immoveable Property Registration & Information Agency will be supervised by the two mayors along with the Construction Permit & Control Authority.
Immoveable Property Registration & Information Agency will be independently set up under the Land Development Management Bureau. A proposal to include it under the office of the mayor or the cabinet or the Federal Government was rejected to allow the Agency to be independent and free from any conflict of interest from those offices that are responsible for transfer of lease rights, according to the study.
The office of the mayor will supervise as it used to before bureaus such as Education, Justice, Capacity Building, Culture & Tourism, Finance & Economy Development, Trade & Industry Development, Health, Youth & Sport as well as the Environmental Protection Authority (EPA).
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
The Land & City Renewal Enterprise will integrate the previously separate systems of clearing out land and leasing. It is to integrate clearing out plots, which used to be conducted by the Land Development & City Renewal, and land leasing, which used to be conducted by the Land Administration & Construction Permit.
The Renewal Enterprise, which will be under the deputy mayor, will be responsible to conduct renewal projects and prepare strategic polices and implement them once they have been approved by the cabinet.
This is to minimize the corruption that comes with the leasing of plots and implementation of land renewal projects by denying the power districts used to enjoy in the process, according to the study.
Along with these restructuring plans, two other bureaus are also proposed to be set up.
One of the projected bureaus will be tasked with finishing the work of providing title deeds. It will be tasked to come up with an implementation strategy on how to include 300,000 plot holders who are not in the lease system. It has four years to come up with a strategy and make recommendations.
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ADDISALINI FORTUNEIMS TO 27AKE Nov, 2011 ITS IRST UILDING IN THIOPIA Bank selectsA five outCB ofHQ 12 to bid Bfor the consultancy work
Salini Construction Spa, an Italian based Co, which has been involved in dam projects for over half a decade, is looking to get into its first building construction after showing interest in the headquarters of the Commercial Bank of Ethiopia (CBE).
14 It had responded to a call for interest of the design - build project, a turnkey endeavour, for the construction of a 52-storey building, the tallest in the country, along with close to 20 international bidders.
The state-owned bank had initially awarded the design competition of the headquarters to Universal Consultants, a local firm in partnership with Henn Architekten, a German firm, in December 2009, which took 200,000 Br in prize money. However, disagreement between the local and the international firms as well as with CBE over pay and working modalities resulted in an impasse over its 10,528sqm plot of land in the Kirkos District, along Ras Desta Damtew Street, in what is known as the Commercial Business District, remaining barren and fenced off.
Although the biggest bank in the country, the state owned Commercial Bank of Ethiopia (CBE) has been headquartered in an old 11-storey building, seen in the foreground, while Awash International Bank (AIB), a relatively younger bank has a modern 17- storey building seen in the background. But this is to change soon as CBE prepares to build a 52-storey building, the biggest in the country.
Failing to get a working design out of this, the CBE issued two separate invitations – one for the design-build and another for consultancy services which will be responsible for design modification and supervision – close to three months ago.
A total of 12 local and international companies as well as a local - international joint venture (JV) have expressed interest in the consultancy work. The project office of the Bank then selected five companies and held a pre-bidding meeting with them on Wednesday, November 23, 2011.
Three of the companies selected are in a JV - MH Engineering, Geretta Consult, both local, and Al Ajimi of United Arab Emirates; Tata Consulting Engineers Ltd of India with Arup of South Africa; and A1 Consulting Group of the US with Perkins, Heery,
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
Kothri of India and Beza Consult locally. Two of them, Arab Consulting Engineers Ltd of Egypt and Klings Cons. Of Germany came alone.
In the two-hour meeting, which started at 10:00am at the project site office located next to the construction site, the selected bidders held discussions about the bidding and its amendments. These companies have to submit their bid offers by December 15, 2011.
CBE has been positioning itself to reach to new heights. In the last fiscal year, the Bank performed well in major performance indicators, earning 4.1 billion Br in profits before tax. Its deposit mobilisation reached 86.5 billion Br. It seems that the management of the Bank is set on changing the image of the largest banking institution in the country by increasing their reach and planning to collect 127.4 billion Br in total deposits this year.
Perhaps indicative of that mindset is the annual road race, the Great Ethiopian Run, scheduled to be held today, November 26, 2011, which it sponsored. It is the same change of attitude that the management of the bank wants to see in the design of the building. An iconic building was criteria put in the first design competition.
The bank also changed the height of the building, initially set at 42-storeys, to the current 52, for which building height regulations did not allow based on the proportion of street width and plot area, after long negotiations with the Addis Abeba City Administration
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ByHE EDEN THIRSTY SAHLE TOWN,ADDIS OF H FORTUNEISTORIC , ARERNov 27,HAS GOT 2011 WATER H 15 Finally, the thirsty town of historic Harer has got water, after its residents waited for almost a decade. Yet, some part of the town is bound to wait for even longer due to lack of transmission pipelines, reports Tamrat G. Giorgis, Fortune Staff Writer.
Water Relief
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
Farmers such as Mohammed Abdure use water from the boreholes for watering their land growing sorghum. (Bottom) Bethlehem Girma Struggles through lines of women carrying jerry-canes of water.
In the vast and lush plain of the Shinelle lowlands, 30km west of the town of Dire Dawa and a few kilometers from Melka Jebdu, are scattered close to eight boreholes, seemingly less significant beyond serving not more than 1,500 members of this farming community of Hasseliso.
At the centre lays an imposing concert water collecting tank, built on a plot taken from the family of Hassen Ali; himself claiming to have the distinction of building his house from hallow blocks while many of his neighbors still live inside mud houses. The tanker was is built to temporarily hold 200mt of water per second from the boreholes nearby, and an additional four boreholes dug two kilometers from the tanker.
For many women in this rural village, such as Saada Hassen, 25, the mother of a six- year old daughter, who supports herself by running a tiny vending shop, the boreholes are a godsend. Now able to fill a bouquet of yellow plastic containers - a popular sight across rural Ethiopia - for 50 cents from a pipe a few meters from her shop means she is relieved. Her neighbor, Razia Ibrahim, a mother of eight, still remembers the days when women from this village travelled to a nearby river, Halahulal Shine, to fetch water, getting up as early as 5:00am.
For five months now the Chinese-built water network system, whose electromechanical part was installed by Indian experts, has brought drinking water not only for the village. Farmers such as the Abdure brothers - Mohammed and Muktar - use water from the boreholes for watering their land growing sorghum. For an area that receives 16 annual rainfall of not more than 200 cubic meters, a daily flow of water through his farm land is extraordinary.
Surprisingly, there is not little indication that the area exposes the size and extent of the project; nor do the couple of small shelters made of blocks scattered across this arid lowland plain tell how lifesaving they are to the people of Harer, and five small towns along the way.
One of Ethiopia’s historical cities, and the first to get piped water even ahead of Addis Abeba, 100 years ago, has seen its resident population of 108,188, according to the recent census, suffer from water deprivation for many years, but more acutely for the past eight years. In February 2004, Lake Alemaya, where the city developed a water supply system in 1966, dried up owing to declining levels of rain in the area and excessive irrigation. Even today, where the dried land serves as grazing land instead, the trace of the lake is evident looking at the remarkably green field where it still holds water whenever the season gets kind.
However, the prospect of inability to provide water to the town’s residents has been worrying authorities both at the central government and local level since the mid 1980s. For over a decade, experts were on the lookout, searching for suitable locations endowed with underground water. Initially, locations at Maya Gudo and Errer River were identified for their potential for underground water.
A revised study financed by the African Development Bank (AfDB), in 1995, where a suggestion was made to build a dam on these rivers at an estimated cost of 830 million Br, was nixed due to feelings of high cost at the time. It took another five years for experts hired by the federal government to identify a rich well-field far from the town of Harer, and near Hurso, crossing two jurisdictional regions.
Ethiopia’s real potential for underground water is a matter that remains within the study rooms. No one seems to know for certain how much there is underneath the
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surface, with only 36.8pc of the country landmass being mapped, according to the Ministry of Water & energy.
Although the country's groundwater is the main source for domestic water supply and sanitation, with potential for irrigation and industrial needs, it is the least known in terms of volume, location and quality, according to Asfaw Dingamo, former minister of Water Resources, in his paper presented to the International Geological Congress held in Oslo, Norway, in 2008.
Experts, however, believe Ethiopia is not particularly impressive in its potential for ground water, which is estimated to be 3.2 billion cubic meters. Nonetheless, recent studies yet to be finalized increase this estimate to 13.2 billion cubic meters under 12 identified basins and covering 1.13 million square kilometers.
The largest of these basins is the Abay River Basin, which is believed to have 1.87 billion cubic meter of water covering 199,812sqkm; followed by Omo Gibe, with its 0.42 million cubic meters covering 79,000sqkm. The river basin where the small village of Hasseliso is located is included in the Awash River Basin, which is believed to have 0.14 million cubic meters water covering 112,696sqkm area.
“This area has a reserve of water meant to supply for 10 years,” said Ahmed Mohammed, coordinator for Harer Water Supply & Sanitation Project, walking around the tanker in Hasseliso, a few weeks after the water system begun pumping water to Harer, 72km from the source.
For the local authorities fighting to secure water to the residents of Harer, such as Arif Mohammed, general manager of Harer Water Supply Authority, it has been a watershed in the long and arduous struggle began in the year 2000, when the federal government had asked AfDB for loans to finance the project. Two years later, the board of directors of the Bank approved the request for loans and grants amounting to 17 227 million Br, and an agreement was signed in November 2002.
The Hareri Regional Government chipped in 66 million Br and the federal government put in an additional 60 million along the way. The project was a collaboration of the federal government, the regional states of Oromia and Hareri as well as the Dire Dawa Administrative Council. A steering committee chaired by the minister of Water & Energy, but also comprised of the heads of each administrative region oversaw the construction process.
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OnAADA Addis ASSEN Fortune HAS A COMMUNITNov 20, Y2011 WATER PIPE A FEW METRES FROM HER HOUSE JugglingH the federal politics, with each region attempting to assert its right over the source of the water’ and the four towns where the 600m wide pipe imported from India passes through demanding their fair share, has left its mark on the delay of the project of almost a decade now.
Passing through the towns of Alemaya, Aweday, Adele, and Dengego as well as the Alemaya University, the pipeline was built by the Chinese CGC, and climbs 1,000m above sea level to reach the Denegego reservoir containing 2,000 cubic meters of water, before it heads down hill to the largest reservoir in Harer with the capacity to contain double the amount of Dengego. This water engineering, designed by Water Works Design Enterprise, in partnership with the French BCEOM, requires transmission of 47km employing pumps and the remaining with gravity.
In between, two reservoirs with the capacity of 500 cubic meters each are built, comprising valves, generators, compressors and pumps, all installed and operated before commissioning by the Indian firm, TechnoFab Engineering Ltd.
Two weeks ago, experts from the Indian firm were installing the automated system which monitors and regulates the water storage in each reservoir in order to relay the data to a remote computer inside Arif’s office. They have yet to be launched, but Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
almost all the panels have been installed, though hardly any of them are functioning to date.
This did not stop water from reaching households in the town of Harer two weeks ago. Even the first pipelines Ahmed Mohammed (Bomba), an Indian businessman, had installed in 1892 have began to function despite their being dried up for over a decade.
One such household inside the town’s historical Jegol was Niema Ibrahim’s, an 80-year old mother with a family of five, whose son was on a visit from Addis Abeba.
“Unlike last year when all of us had been disappointed with a promise not delivered, this time there is indeed water,” he said, opening the water pipe few meters from the front door, to demonstrate it with a sense of relief.
At the far corner of the compound, where there is a small room and washroom for the quarters, were jerry-canes piled up one after the other. They are reminders of the dry days, when members of the family used to send for refills from a nearby community water depot each fill-up costing as much as five Birr, as opposed to now where they pay a monthly bill of few hundred.
“It is ironic that the room was originally built for a shower,” said Niema’s son. “It ended up being a storeroom for the jerry-canes.”
His mother’s residence is located on one of the three zones in the town provided with daily water.
“I used to get water once every two weeks,” a lady whose identity she declined to disclose as she stood by her compound gate told Fortune. This has changed now; for the past couple of months, I get water five days a week.”
18 Interruptions within these days are now unusual, according to Arif.
“If there is one for a day, people call me on my mobile phone,” Arif told Fortune.
Residents in Harer have a total demand of 7,000 cubic meter water a day. When the project gets commissioned during the scheduled date on December 30, 2011, the town’s water supply authority will have a capacity to provide 10,000 cubic meters.
But not all have water anytime soon after the commissioning of the project.
At least one zone where the family of 18-year old Bethlehem Girma lives, and paradoxically located near the largest reservoir, has yet to get a network of pipelines. Struggling to make her way through lines of women carrying jerry-canes one morning, and unlike Saada, where the community’s water pipe is a few meters from her shop, Bethlehem and her family are bound to continue receiving water from one of the five temporary depots installed across the town, for which trucks transport water from a nearby well.
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TALY OOPERATION WATER AND HEALTH NEW PROJECTS IN THIOPIA ROME,I Italy,C November 17, 2011/African Press Organization (APO)/ — The second phase of the DGCS initiative in Ethiopia began with the publication of guidelines for the formulation and presentation of NGO proposals. The project is concerned with risk reduction in the sectors of water, sanitation, environment and health. On 4 August 2011, given the worsening crisis in that country, and following the Ethiopian government’s appeal to the international community for humanitarian assistance, the DGCS approved a total of €1.3 million in refinancing for the Aid 9386 emergency fund.
The goal is to consolidate the results achieved in the first phase of the initiative, encouraging new sustainable and lasting solutions. Coordination, facilitation of relations with the authorities and other agencies/organizations working in Ethiopia, Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
technical assistance and monitoring of activities will be ensured by the Embassy of Italy in Addis Ababa, the Cooperation’s local technical unit and experts sent by the DGCS.
This new phase will allow the Italian Cooperation to extend its radius of action into the southeast. The regions concerned will be Oromia, Somali Region and SNNPR. Limited availability of water is a chronic problem in Ethiopia, especially in the pasture lands of these regions, where the consequences of the weather phenomenon Niña between late 2010 and 2011 have further compromised access to and use of safe water sources.
The new phase will concern, in particular, local and displaced populations impacted by adverse environmental and climatic conditions, and subject to the migration flows of neighbouring countries, and will seek to reduce and prevent the risk of humanitarian emergency in the sectors of water and health, improve the management of available resources and foster the reduction of medical pathologies associated with water and infant malnutrition. Additionally, the project will also concern human resources development, protection of refugees and displaced persons and improvement of conditions for women.
The projects undertaken will aim at the maximum involvement and collaboration of the local authorities and seek to create synergies with other organizations engaged on the ground in similar or complementary ones.
SOURCE Italy – Ministry of Foreign Affairs
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NEWTHIO BUSINESSERMAN ETHIOPIA ONNECT 17PENS November IN DDIS 2011 BABA BY REPORTER 19 K O A A A new exchange forum and networking event aiming to create business opportunities between Ethiopia and Germany, Ethio-German Konnect (EGK) opens in Addis Ababa.
It is held last week for three days at the German Development Cooperation Office in Addis Ababa for the first time. Each of the three days is dedicated to one economic area, including the sectors Energy, Agriculture and Construction.
“The Ethio-German Konnect is a fantastic opportunity for experts and companies from Ethiopia and Germany to network, connect and collaborate. Our aim is to provide business opportunities for both sides”, says Kokebe Hailegabriel, Coordinator of the Returning Experts Programme of the Centre for International Migration and Development (CIM), which organises Ethio-German Konnect.
“Simply, we want to turn the emigration of Ethiopian experts – the so called brain- drain – to a brain-gain by enabling them to systematically support the economic development of Ethiopia”, explains Hailegabriel.
During the three-day event, different features of Ethio-German business relations are presented – among them Development Partnerships with the Private Sector, joint ventures and investments. The focus is on innovations in the areas of Energy, Agriculture and Construction. Different exchange forums highlight the pioneering players within these areas, and transport different features of Ethio-German business relations across the three sectors.
“We created Ethio-German Konnect as a platform to exhibit and network Ethiopian and German Entrepreneurs, institutions and returned experts. We hope it creates plentiful opportunities for pioneering new business ventures”, says Hailegabriel.
EGK is organized by the Returning Experts Programme of the Center for International Migration and Development (CIM). CIM is a joint cooperation of Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and the German Federal Placement Agency Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
and is acting on behalf of the German Federal Ministry of Economic Cooperation and Development.
Since 2004 the Returning Experts Program has assisted more than 10000 people in terms of career planning, reintegration and job placements worldwide. The CIM Returning Experts Program is active in 25 countries. A substantial part of the program is dedicated to turning brain drain to brain gain, placing experts in relevant fields of development by offering incentives like funding and trainings.
The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH is owned by the Federal Republic of Germany. Through its operations around the globe, it supports the German Government in the fields of international cooperation for sustainable development and international education.
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NEWTHIOPIA BUSINESS OOST ETHIOPIA UDGT , 15ERCENT June 2011 EFENSE ETS WO ILLION IRR DDITIONAL B B P D B B A The House of Peoples’ Representatives of Ethiopia approved close to 118 billion birr (close to 7 billion US dollars at the current exchange rates) national budget for the next fiscal year (from July 8, 2011 – July 7, 2012). The amount is 39 percent higher than the previous fiscal year budget.
Budget for defense will also reach 6.5 billion birr for the 2004 Ethiopian calendar budget year, which is two billion birr higher than the 20 previous year.
Ethiopia’s ambitious five year growth and transformation plan and attaining the Millennium Development Goals (MDGs) are among the reasons for this year’s budget increment, according to Minister of Finance and Economic Development, Sufian Ahmed, who briefed the parliamentarians yesterday (June 14, 2011).
Government planned to collect around 79 billion birr from domestic tax and non-tax revenue and 21.4 billion from foreign aid. While 6.6 billion birr and 10.6 billion birr is expected to be obtained as loans from abroad and domestic financial sources, respectively.
Of the total budget 48 billion birr (40 percent) will be spent on infrastructure development and other as capital expenditure while recurrent expenditure stood at 23 billion birr. Some 31 billion birr (around 39 percent of the total budget) is also allocated for regional states in the forms of budget subsidy.
The budget document the minister presented also shows that 81 percent of the total capital budget will be invested on roads, education, agriculture, water, rural electricity and health development. MDGs related activities will also get a total 15 billion birr.
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TheOUTHERN Ethiopian OAD Herald, ROJECTS November OAR 20, 2011. P Construction of 36 road projects, including 597km of road construction and 1,600km of road renovation, was undertaken in Southern Regional State at a cost of 422 million Br this Ethiopian fiscal year, according to the state’s road authority. The fund was secured from the federal and state governments’ road funds, according to Meles Berhe, public relations head of the state’s authority. The project includes a construction of eight bridges and gravel road connecting Guraghe Zone and Konta Special Wereda.
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TheDAMA Ethiopian UMPED UPHerald, WITH NovemberM R IN 19, UBLIC 2011. ONSTRUCTION A P B P C Projects to construct health stations, schools, and youth centres; install electric lines; and lay 10km of cobblestone road were launched at a cost of 300 million Br in Oromia Regional State, Adama Town, 98km from Addis Abeba in this Ethiopian fiscal year, according to Hussein Ushu, manager of the town municipality.
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TheOMALI Ethiopian TATE TO Herald, OAK UP NovemberM R FOR20, 2011.ATER CHEME A clean water and basin developmentB W project that would benefit 260,000 pastoralists and 1.7 million domestic animals is being undertaken in Shinile Zone, Somali Regional State, at a cost of 260 million Br, according to the state’s Basin Development Bureau. The cost of the construction was covered by the state food security programme. The project includes 12 deep wells and the installation of 300km of pipeline in Afdem, Dembel, and Aysha weredas, according to Abdiwohib Reshid, head of the bureau. 21
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FGHANISTAN A $10
BBCNDIAN News CONSORTIUM Asia 29 NovemberWINS BN2011 FGHANISTAN MINES DEAL AI consortium of Indian companiesA has won the right to develop some of Afghanistan's large iron ore deposits, Afghan mining ministry officials say.
Seven Indian companies, led by the state-owned Steel Authority of India, won a $10.3bn (£6.6bn) deal to mine three sites in central Afghanistan.
A fourth site was awarded to Canada's Kilo Goldmines. All the contracts are due to be signed early next year.
Last month, Afghanistan signed a strategic partnership deal with India. In a development that correspondents say caused some concern to India's strategic rival Pakistan, the two sides said the aim was to boost trade, security and cultural links.
Exploitation of the estimated two billion tonnes of iron ore deposits in Hajigak mine - located in Bamiyan - is expected to begin by 2015.
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Officials say that the project has the potential to be Afghanistan's single biggest foreign investment project.
The Hajigak deposit contains an estimated 1.8 billion tonnes of iron ore, with an iron concentration of 64%, the mines ministry said in a statement. The figures are based on a survey carried out in the 1960s.
The ministry said last year that Afghanistan could be self-sufficient within a decade if its mineral resources - which some estimates have valued as high as $3tn - are properly exploited.
But correspondents say that questions are certain to be asked as to whether investors will want to advance the large sums of cash required to start building mine and rail infrastructure in the country, which at the moment is almost non-existent.
Their unease is almost certain to be enhanced given the renewed uncertainty in Afghanistan ahead of the planned withdrawal of most Nato troops from the country by late 2014. The mines ministry says that Afghanistan has vast reserves of oil, gas, copper, gold and lithium.
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PressWEDEN release INCREASES, Ministry ITS CIVILIAN for AID Foreign TO FGHANISTAN Affairs of Sweden, 24 November 2011 The Government today adopted a revisedA and extended cooperation strategy for Swedish aid to Afghanistan. This is an important part of the gradual transition from military to increased civilian involvement. Sweden will increase its aid to northern Afghanistan, strengthen support to civil society in Afghanistan and intensify efforts to fight corruption.
22 Aid will gradually increase from some SEK 520 million in 2011 to some SEK 620 million in 2014. Aid will remain focused on strengthening the capacity of the Afghan state, promoting democracy and human rights,and giving more children the chance to attend school. In particular, efforts will focus on strengthening the role and rights of women, children and young people.
Work on revising the strategy was preceded by close dialogue with the Social Democratic Party and the Green Party, based on the agreement covering the overall Afghanistan operation. In 2011, Swedish aid to Afghanistan amounts to a total of about SEK 900 million, of which almost SEK 180 million goes to humanitarian operations and some SEK 200 is channelled through multilateral organisations such as the UN. Funds are also given to the EU Police Mission in Afghanistan (EUPOL). Contact: Evin Khaffaf Press Secretary to Gunilla Carlsson +46 8 405 59 39 +46 70 283 95 97
Yahoo!FGHANISTAN News, PLEASEDsource:AP WITH Tue REVIVED Nov 15, 3:28 CREDIT am ET AKABUL, Afghanistan – The Afghan IMFgovernment says it's pleased that the International Monetary Fund has decided to reinstate a credit program for the country — a move that will revive the flow of international aid that was suspended over the Kabul Bank crisis. Afghanistan has been without IMF backing for more than a year. Some donor nations had already stopped authorizing payments to Afghanistan.
Kabul Bank nearly collapsed in 2010 because of mismanagement and hundreds of millions of dollars in questionable loans.
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The Afghan Finance Ministry said Tuesday that the IMF had approved a $129 million loan to support reforms in the banking and financial sectors and improve public financial management. The IMF was to formally announce its decision later in the day.
International Conference arranged by the Swedish Committee for Afghanistan 23 November 2011 in Stockholm Gunilla Carlsson, Minister for International Development Cooperation
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By ORLDALISSA ANK J. SSUESRUBIN, LERTNew ONYork FGHANISTAN Times, November CONOMY 22, 2011 W B I A A KABUL, Afghanistan — Afghanistan will suffer a recession in 2014 and beyond after foreign troops leave and aid dwindles, and if the security situation gets worse, the country could face complete economic collapse, according to an ominous report released in Kabul on Tuesday by the World Bank.
The country’s near-total dependence on aid — more than 90 percent of the $17.1 billion national budget comes from foreign donations — puts it in the company of Gaza, the West Bank and Liberia as one of the most aid-reliant places in the world, according to the World Bank. Much of the Afghan government’s revenue is derived from American military and civilian spending.
“Transition will have a profound impact on the economy and political landscape well after 2014,” said Josie Bassinette, the acting country director for the World Bank, referring to the shift of responsibility for running every aspect of Afghan affairs to the Afghan government. She said the bank forecasts a $7 billion deficit in the 23 Afghan budget annually through 2021.
Western diplomats who had been given private briefings on the report over the past week said the news was grim. “We have an enterprise on our hands that is totally unsustainable from a fiscal point of view,” one said.
Another diplomat recalled going to an American combat outpost last spring and asking an officer how many Afghans worked there; the officer replied that about 25 were involved in building projects at the post.
“What is going to happen next spring to those 25 people and their families when we pull up stakes?” the diplomat said. “Think about how many outposts there are like that.”
Over all, income per person in Afghanistan is $528 a year, but Ms. Bassinette said that figure conceals pockets of worse poverty because aid money has not been evenly spread: money has poured into unstable areas while bypassing more peaceful ones.
The World Bank forecast echoed a report last June by the Senate Foreign Relations Committee, which questioned the assumption that plentiful aid and higher incomes for local Afghans would foster security, a major part of the counterinsurgency strategy. Both reports raise the possibility that many foreign aid projects give little more than a temporary economic jolt to Afghans.
Afghanistan faces a difficult decision over whether to go ahead with plans to expand its security forces to 352,000 soldiers, or to scale back to leave more room in the budget for education, health care and infrastructure. There will not be enough money for both, the World Bank report indicates.
“If the security side is covered, the civilian side will suffer; if the civilian side is covered, security will suffer,” Ms. Bassinette said.
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The report is based on moderately optimistic assumptions, including the development of a large copper mine at Aynak in Logar Province and an iron mine in Bamian Province. Many Western observers doubt that the country will be secure enough to develop the mines and ship ore abroad any time soon.
Even if the mines begin to produce income, the country will run an annual deficit of $7 billion, and its economic growth will be 5 to 6 percent by 2018, considerably less than the current pace of 9 to 10 percent, the report forecast. Without the mines, growth will be slower still, about 4 percent a year, the bank said, and could fall to zero or below if security deteriorates.
The Afghan government’s ambivalence about foreign aid further complicates humanitarian work. It wants the money but is sensitive about seeming unable to care for its people.
Recently a group of organizations, including Save the Children, Oxfam and CARE, released a statement saying that Afghans in 14 areas of the country were at risk of hunger and disease in the coming months because of drought and bad harvests, and would be unreachable after winter snows set in. Instead of welcoming the group’s effort to raise money, Mohammed Asif Rahimi, the agriculture minister, appeared to take offense, viewing it as a criticism of his ministry’s efforts. He held a news conference on Tuesday to berate the groups.
“Recent NGO fund-raising publicity has incorrect data and ignores the important progress so far,” he said in a statement on Tuesday, referring to nongovernmental organizations.
Three coalition soldiers died in separate episodes in southern Afghanistan on Monday, according to a NATO statement.
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TS.E ONGOLIA BadrakhRESIDENT on NovemberLBEGDORJ 24, RECEIVES 2011 AMBASSADORS PYesterday the President Ts.ElbegdEU orj received the Ambassadors of the European Union and its countries in Mongolia. He has expressed his satisfaction with meeting with them and then briefed to present political and economic situation in Mongolia.
Mentioning that Mongolia attaches a great importance to development of the relations and cooperation with the European countries, the State Head said the EU countries are considered the “Third neighbors” of Mongolia in accordance with the foreign policy.
“In the last half of this year, the President of Finland Mrs. Tarja Halonen and Germany’s Chancellor Mrs. Angela Merkel visited Mongolia. I think these visits significantly contributed to widening the ties between Mongolia and the EU,” Ts.Elbegdorj stressed. He added that he paid visits in October to the Great Britain and Italy and shared views with Great Britain’s Prime Minister David Cameron. “2011 was a vital year for Mongolia. We celebrated the biggest anniversaries such as the 100th anniversary of the national liberation movement,” he said. The President talked about a draft law on budget for 2012 and said it must be discussed at parliament by December 1, 2011. “Next year will be important in the political life because the parliamentary election will take place in June”.
The President spoke about the population census which ran with registration of finger prints of people. “I hope it will make the parliamentary election process easier letting avoid any conflicts. The voting will run through auto-devices,” he said.
Ts.Elbegdorj said that he is paying a great attention to the judicial reform and good governance and added he has drawn up six draft laws on legal reform and submitted them to parliament. “Mongolian government is working on introducing standards of the
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EU, so it will thankfully accept any proposal from the EU on this issue,” he stressed. A matter on Tavan tolgoi deposit was raised by the President. He pointed out it is expected the TT investment contract will be made before the 2012 parliamentary election. “We have 11 embassies abroad now. The latest one was opened in Rome, Italy. Mongolia started this year its chairmanship of the Community of Democracies and we are paying attention to democratic partnership in Asia and the education of democracy,” the President said, adding he plans to organize a meeting in December in Tunisia in scope of the Community of Democracies after visits to Qatar and Kuwait. He hopes that the EU will send high-level representatives to this meeting.
The State Head emphasized an importance of establishing a partnership and cooperation agreement between Mongolia and the EU.
In turn, the Ambassadors thanked the President for the audience and for giving the report on economic and political situation. They asked about issues of mining, election law, legal reform, the NATO-Mongolia and EU-Mongolia ties and partnership and moratorium of Mongolia on the capital punishment.
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PROPHECY COAL RECEIVES CHANDGANA THERMAL POWER PLANT LICENSE FROM ONGOLIAN AUTHORITIESBadrakh on November 22, 2011 Prophecy Coal Corp. said on Monday that it has received the license certificate from Mongolian regulatory authorities to construct the 600 Megawatt (MW) Chandgana thermal power plant.
Coal for the power plant will be supplied from the company’s Chandgana Tal Deposit, for which Prophecy already obtained a full mining license. Tal contains 141 million 25 tonnes of measured coal and is located just nine kilometres north of Prophecy’s Chandgana Khavtgai project, a deposit with over 1 billion tonnes of measured and indicated coal.
The license for the power plant, which was received by Prophecy’s Mongolian subsidiary, East Energy Development, is the first such license of its kind issued by the Mongolian government in terms of size. To ensure strict compliance with Mongolian laws and regulations, the company has retained a number of Mongolian and international consultants over the past 18 months, with considerable efforts also spent on community relations, Prophecy said.
Chandgana is 60 kilometres from Underkhann city, and 150 kilometres from Baganuur city. Construction of transmission lines linking the two cities through Chandgana is considered a top priority for an improved national Mongolian energy system, Prophecy said.
Chairman and CEO of Prophecy, John Lee, commented: “Prophecy has distinguished itself as the premier candidate to build the next Mongolian thermal power plant. There is an understanding among all stakeholders that Mongolia, being one of world’s fastest growing economies, needs additional power. “With the IMF projecting a deficit of over 600MW by 2016, this need has become critically urgent and can no longer be delayed.”
The license issuance paves the way to conclude various contracts and project financing arrangements, as well as joint venture discussions in 2012. The company plans to start construction of the plan in the first quarter of 2013.
“Prophecy has navigated the permitting process with rigor and results. With the above timeline, and considering Mongolian climate, we will work diligently to fire up the first unit by January 2016. We look forward to working closely with all relevant
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agencies, authorities, and communities to commission the Chandgana plant,” Lee concluded.
Prophecy Coal is a Canadian-listed company engaged in developing energy projects in Mongolia. The company has over 1.4 billion tonnes of surface minable thermal coal resources on two coal properties in Mongolia. Its Ulaan Ovoo coal mine, is in production. Source: Proactive Investors
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BadrakhHE RESIDENT on November WILL APPOIN 18, 2011T THE 1NEXT Comment HIEF The PState Supreme Court ordered threeACA AntiC -Corruption Authority (ACA) officials convicted of corruption released from custody last month. The Standing Committee on Justice delivered a note to President Ts.Elbegdorj asking him to nominate a new head of the ACA.
An official in the President’s Office told our correspondent that the president has not yet officially nominated anyone for the post, but sources say several candidates are under consideration.
Among them are Colonel N.Ganbold, a former emissary from Mongolia to Russia; B.Galdaa, the head of the Investigation Board of the State Prosecutors’ General Office; Major General M.Ganbold, former chief of the Police General Department; J.Enkhsaikhan, vice president of the Mongolian Advocates’ Union; and T.Lkhagva, a former instructor at the Management Academy.
F M 26 BadrakhIRST EPUTY on November RIME INISTER16, 2011 MET WITH AVID AMERON DemocraticD PartyP Chairman and First DDeputyC Prime Minister N.Altankhuyag met with British Prime Minister David Cameron, who is also the head of the Conservative Party in the U.K on tuesday at the meeting of the International Democrat Union in London.
D.Cameron congratulated the DP for its membership in the IDU and stated his support for Mongolia’s transition to democracy. He noted the importance of the DP and Conservative Party discussing their successes and failures and learning from each other’s experiences. He said the fact that the DP chairman was taking part in the meeting shows how significant he considers it.
N.Altankhuyag expressed his happiness with the DP’s membership in the IDU, and his pleasure with being in London, where the organization was founded. He said that the DP has closely cooperated with the Conservative Party and he expressed his hopes for future cooperation.
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AmarsanaaEW AILWAY on NovemberROJECT IS SPURRED16, 2011 BY THE ABINET NDuring the regularP Cabinet Meeting, CMP Kh.Battulga, Minister for Road, Transport, Construction and Urban Development, made presentation on “New railway” project progress and initial financing.
Cabinet Meeting instructed Board Directors of Development Bank to transfer the necessary fund for the feasibility study, geological and geodesy and environmental impact evaluation and earth work of the project.
Within the framework of “New Railway” project 468 km railway between Tavan Tolgoi – Sainshand, Sainshand – Khuut (450 km), Khuut – Choibalsan (155 km), Khuut – Numrug (380 km), Tavan Tolgoi – Gashuunsukhait (267 km), NariinSukhait – Shiveekhuren (46
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km) railroads are planned. According to the earlier research and evaluation, 1 km railroad base structure will require US$2.5-2.8 million. The project developers expect to transport 66 million tons of coal by 2020.
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oxfordONGOLIA business ONSTRUCTION group on POTENTIA NovemberL 14, 2011 As MongoliaC marks 85 years since its building sector was formally established, intensive demand for private and public construction is creating jobs and furthering the need in the residential segment, while domestic involvement in foreign-led mining projects is adding to the overall demand in the sector.
The government has announced ambitious spending plans for the next few years, with confidence fuelled by rising foreign investment in the country’s resource wealth. Big-ticket projects such as the plan to build 100,000 homes and give citizens MNT1m ($772) towards the purchase of their own home are under way and are expected to boost Sukhbaatar Batbold administration’s chances in the parliamentary elections due in 2012. Meanwhile local and foreign firms are stepping up the construction of vast copper and coal mines set to come on-stream in the next five years.
Capitalising on the momentum, Mongolian investment, trade and industry group Barilga held its fourth international construction expo in the capital, Ulaanbaatar on September 2-5, welcoming 120 organisations as well as representatives from the US, China, Japan and Russia. Supported by the Ministry of Roads, Transportation, Construction and Urban Development as well as the Mongolian Builder’s Association, Barilga – formed in 1992 as a successor to the state-owned Mongolian Construction Company – the event was aimed at establishing trade links and introducing new building technologies.
The conference came as rapid growth is being registered in a building industry made 27 buoyant by expected wealth from the vast Oyu Tolgoi copper-gold project and Tavan Tolgoi coal mine. These are estimated to double GDP in the next five years and raise per-capita income from the current $3200 to some $10,000.
The government’s statistics body revealed in January that 2010 saw spending of MNT350bn ($270.3m) nationwide on construction, a 25.6% year-on-year rise, while the World Bank said in March that the building sector registered 38% year-on-year growth. The World Bank also found that 26% of the total listed companies on the Mongolian Stock Exchange were involved in construction, just 2% lower than the country’s mainstay industry of mining.
Among the government’s key modernisation plans is a strategy to build 100,000 new housing units in the capital to improve urban living conditions as well as water supply and sanitation nationwide. The administration has pledged to pay MNT1m ($772.20) to each eligible citizen towards the purchase of a new housing unit, with an apartment block with 15,000 units already under construction on Ulaanbaatar’s Yarmag Hill. Officials have said the project will cost MNT800bn ($617.8m), MNT467bn ($360.6m) of which would be allocated to the construction sector.
In September, the head of the cabinet secretariat of government, Ch. Khurelbaatar, gave a report to cabinet members on the implementation of a middle-term programme that involves the cabinet selecting enterprises to execute 41 works reflected in the programme with capitals of MNT13.3bn ($10.3m). The project will be undertaken with loans from the Development Bank of China and cooperation with the Investment Department of Kuwait.
Work on a new international airport for Ulaanbaatar is scheduled to begin in early 2012 and take three years to complete. Built with a $270m loan from Japan, the new facility will be able to service all larger modern aircraft and provide better protection from high winds. The transport link comes amid plans to develop an eastern link from the Trans-Mongolian rail line heading east from Ulaanbaatar to the eastern Trans-Siberia route, which will link Mongolia directly to a sea port for the first Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
time, ending the current reliance on China for export of raw materials, goods and products.
With the Oyu Tolgoi mine expected to employ some 14,000 workers – 60% of which will be Mongolian – and the demand for other mining-related construction workers potentially exceeding the capacity of country’s widely spread population of 3m, an important issue arising in construction is labour.
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The chief of the Building and Apartment Policy Board of the Ministry of Road, Transportation and Urban Development, B. Baasan said in August that the ministry’s policy would be to train Mongolian workers to build the 100,000 apartments. And that 70% of the building material would come from domestic factories by 2016.
T 1,000 VIETNAM PostedOP by CORPORATEVBN on Nov TAXPAYERS 24 2011. PUBLISHED Vietnam Report, in collaboration with online newswire VietNamNet and the General Department of Taxation’s Tax magazine, organised a ceremony on November 22 to honour the country’s top 1,000 corporate-tax contributors in Hanoi.
Contributions from foreign-direct enterprises doubled from VND19 trillion in 2010 to VND38.9 trillion. This represented a 1 per cent rise to 24.92 per cent in the V1000 making list in 2011.
The V1000 revealed that 16.3 per cent of firms for the first time were entered on the list. Of those, state-owned and private enterprises occupied 42.9 per cent and 31.3
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per cent of the slots, respectively. Foreign-invested enterprises (FIF) represented 25.8 per cent.
State firms continue to lead in tax contributions. The top 10 tax contributions were state-owned enterprises (SOEs), with their payments more than doubling from VND25.7 trillion ($1.24 billion) in 2010 to an estimated VND64.8 trillion ($3.13 billion) in 2011.
Meanwhile, contributions by private firms slid from 20.62 per cent in 2010 to 17.8 per cent in 2011, indicating the sector’s vulnerable nature during tough economic times.
The top 100 tax contributors in this year’s V100 contributed 72.4 per cent of tax paid by 1,000 firms on the rating list.
The top 10 enterprises were: Vietnam Posts and Telecommunications Group (VNPT), PetroVietnam Exploration and Production Corporation (PVEP), VietsovPetro Joint Venture Enterprise (VietsovPetro), Vietnam Oil and Gas Group (PetroVietnam), Military Telecommunication Group (Viettel), Vietnam Mobile Telecom Services Company (VMS), Vietnam National Coal-Mineral Industries Group (Vinacomin), PetroVietnam Gas Corporation (PV Gas), Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank).
This is the second year that the V1000 ranking list has been compiled. It is to recognise and honour enterprises that have the biggest tax contribution for three consecutive years (2008-2010) for the state budget.
V1000 is based on independent data survey processed by Vietnam Report.
29 Information and data about enterprises were taken from top 500 Vietnamese enterprises VNR500, VNR Biz Database (Vietnam Report’s extensive database with over 250,000 enterprises), data sourcing from the country’s two major bourses HNX and HOSE, and from 3,000 company records sent to Vietnam Report for checking and verification. – VIR
PostedS TRAGIC by VBN BUSINESS on Nov RE23SULTS 2011. RELEASED EVN’ The Ministry of Industry and Trade has announced that state-owned Electricity of Vietnam Group (EVN) lost VND10.162 trillion ($483.76million) in 2010.
This is the first time that EVN’s business results have been made public.
The group incurred losses from its own electricity production and trading, irrespective of the staggering loses accumulated from speculative investments in other non-core sectors.
Last year, EVN’s electricity revenues totalled VND90.934 trillion ($4.32 billion), equivalent to an average power selling price of VND1,061.4 per kWh.
The group’s electricity production and trading costs totalled VND101.096 trillion ($4.81 billion) over the year, equivalent to an electricity cost price of VND1,180 per kWh.
The ministry noted that the costs had yet to include spending of VND15.463 trillion ($735.9 million) to cover a disparity in foreign exchange rates as well as a spending of VND356 billion ($16.94 million) on taking over substandard rural electricity grids from local authorities in 2010.
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In 2010, power generation costs topped the list at VND78.498 trillion ($3.73 million); followed by power distribution cost at VND16.208 trillion ($771.4 million). Power transmission was bottom of the list for costing only VND5.626 trillion ($267.7 million) during the year.
The ministry attributed EVN’s losses to decreased hydropower capacity, which forced the group to run oil-fueled turbines at higher costs, in addition to buying electricity from China at higher prices.
Sluggish construction of several power projects and fluctuations in foreign exchange rates and fuel prices also added to the situation, the ministry noted.
EVN general director Pham Le Thanh said the electricity sector currently incurs a loss of VND300 per kWh in electricity sales.
Thanh warned that if no drastic measures are taken to deal with the group’s financial imbalance, it would find it increasingly difficult to raise capital in the time to come and investors might be discouraged from investing in power projects, particularly in the southern region, adding to power shortages.
In order to help EVN overcome the situation, Deputy Minister of Industry and Trade Hoang Quoc Vuong said that the group’s losses would be offset by future power price hikes. He, however, did not clarify the exact timetable for the electricity price rises.
Concerning EVN’s non-core business, Thanh said that the group had planned to gradually withdraw all of its investments from non-core businesses, especially telecommunications, with EVN Telecom to be transferred to military-run Viettel telco.
EVN will withdraw its investment in securities, banking and real estate during the 30 next two years, he added.
Despite moaning over losses, EVN revealed that its employee salaries averaged a whopping VND7.3 million ($347.4 million) per month in 2009, while the earnings of top executives remains shrouded in mystery.
For 2010, Thanh did not mention salary expenditure but said that the aforementioned VND10.162 trillion ($483.76million) in losses represented 95 per cent of the group’s salary cost during the year.
He added that employees in the electricity industry found it difficult to afford to live in major cities with such ‘modest’ payment.
Minister of Labour, Invalid and Social Affairs Pham Thi Hai Chuyen batted away the claims, saying they were unpersuasive and that the ministry would inspect EVN’s losses further. – Dantri
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Posted DEPUTIES by VBN WANT on BETTERNov 23 MINIMUM2011. WAGE SAME OVERTIME AtNA their meeting yesterday to discuss amendments to the Labour Code, many National Assembly deputies wanted the minimum wage to be increased, maintaining the number of maximum annual overtime hours.
They said the number of extra working hours should not be increased from the current 200 hours to 360 hours per year as proposed in an amendment.
Cu Thi Hau, former chairwoman of the Vietnam General Confederation of Labour, said, “The amendment drafters argue that workers demand extra work, but in fact, their monthly salaries, which are based on the minimum wage rate, are so low that they have to work overtime to earn more money. Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
Concerning the existing minimum wage rates of VND1.4 million-VND2 million ($66.6- 95.2) per month, Hau said, “It is satisfactory to regulate such low minimum wage rates.”
“According to a recent study, 30 per cent of the workers at industrial parks in Ho Chi Minh City suffer malnutrition due to their low living conditions. Therefore, I propose that the current maximum annual overtime hours remain unchanged.”
Agreeing with his predecessor, Dang Ngoc Tung, chairman of the Vietnam General Confederation of Labour, said the National Assembly should thus ensure that the minimum wage is actually enough to pay for the minimum needs of a worker.
“No worker would wish to be overloaded with work if their income was enough to pay for their daily living activities.”
He emphasised that “the amendments are aimed at ensuring benefits for employers, rather than for employees. If those amendments are approved, labourers will be hurt,” he said. Tung pointed out that a number of businesses are unfairly taking advantage of the low minimum wage. They pay their workers salaries that are only slightly higher than the minimum rate and then give them “incentives”, such as travel subsidies or housing allowances even though such incentives should be part of the salaries.
“Meanwhile, they only pay social insurance on the low salaries offered to workers, and this will affect the benefit workers get from social insurance, especially when they retire,” he said. He also said that the income workers get at most enterprises is only enough to pay for 60-70 per cent of their daily needs.
31 Wage must commensurate with inflation In order to ensure the actual value of the minimum wage, the wage should not be fixed as a constant amount, but would instead be increased in proportion to the rise of the consumer price index (CPI) in a certain period, Tung said.
Do Manh Hung, another deputy chairman of the NA’s Committee for Social Affairs, said the CPI, which has increased by 20 per cent, should be used as a factor in fixing a minimum wage rate. “The minimum wage is based on three factors: labourer’s minimum needs, the country’s economic conditions, and the wage levels applicable on the labour market, but I suggest that CPI should be the fourth factor to be considered.” Tran Ngoc Vinh, of Haiphong city, said: “There should be a regulation that when the CPI increase to a certain rate and in a certain period, the government must increase the minimum wage accordingly.” Dang Thuan Phong, a deputy of Ben Tre province, said: “If the minimum wage is not increased soon, workers may need to work as many as 700-800 hours of overtime, not the 360 hours as proposed in an amendment.” Voicing his concern about the low minimum wage, Bui Si Loi, a deputy chairman of the NA’s Committee for Social Affairs, said low income was the main cause of 90 per cent of worker’s strikes. – Tuoitre
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PostedIETNAM by ANSAIVBN on ECONOMIC Nov 19 FORUM2011. OPENS IN ANANG TheV VietnamK -Kansai economic dialogue forumD was held in central coastal Danang city on November 22 to discuss ways to attract more investment to the East-West Economic Corridor and adjacent areas in central Vietnam. The forum, the fifth of its kind, is part of the annual economic cooperation exchange programme between Vietnam and Japan’s Kansai region. It aims to promote connectivity between the central region, the East-West Economic Corridor and Kansai. Nearly 300 foreign and domestic scholars and businesspeople, including 70 investors from the Kansai region, exchanged views on how to increase and effectively use Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
foreign investment, especially from Japan, to develop infrastructure, manufacturing and support industries in the region.
Addressing the event, Deputy Prime Minister Hoang Trung Hai noted that Japan is one of Vietnam’s leading economic, trade and investment partners.
Japan is the biggest aid donor and the fourth-largest foreign investor in Vietnam , said the deputy PM, adding that it ranks first among foreign investors in terms of capital disbursement.
Vietnam and Japan signed an investment protection and encouragement agreement in 2004 and a comprehensive economic partnership agreement in 2007, he said.
The two countries signed a joint initiative in December 2003 to improve the investment environment in Vietnam, laying a foundation to promote bilateral investment and cooperative relations.
Both countries have completed three phases of the initiative and are entering the fourth phase, dealing with issues related to the investment environment in Vietnam.
However, the Deputy PM noted that foreign investment in central Vietnam remains modest. He cited statistics saying by the end of October 2011, the central region attracted 750 projects capitalised at $23.7 billion. Of the total figure, Japan invested in 71 projects worth $417 million, making up only 2 per cent of its total investment in Vietnam.
Vietnam is exerting efforts to attract foreign investment in the central region, with Danang city serving as the gateway to other economies in the region and the world, said Hai. He said Danang is taking shape as a production base in the central region. The city 32 will take part in the global supply chain to create added values for Vietnamese products to further penetrate regional and global economies.
According to the Deputy PM, the forum offered a good chance for the two countries’ businesspeople to discuss investment policy and the potential for investment cooperation. This year’s event was focused on infrastructure development in Vietnam and the East- West Economic Corridor in particular.
After the opening of the forum, Deputy PM Hai chaired the first two sessions, on Vietnam-Japan cooperative potential and opportunities in infrastructure development in Vietnam and the East West Economic Corridor and Vietnam-Japan cooperation in manufacturing and support industries.
PostedANOI HOSTS by VBN THREE on Nov EXPOS19 2011. H ICT Three exhibitions on information and communication technology (ICT) opened in Hanoi on Wednesday, featuring products and services for the mobile internet broadband third and fourth generation (3G and 4G) networks. The events – organised at the Vietnam Exhibition and Fair centre in Hanoi by Vietnam Association for Information Processing, Vietnam Posts and Telecommunications Groups (VNPT) and Adsale Exhibition Services Ltd of Hong Kong – will last until Saturday.
The organisers said 140 local and foreign firms were participating in Vietnam Comm, Vietnam Internet & IT and Vietnam Electronics 2011 expos. VNPT is displaying 3G technology applicable for its two network providers, Vina-Phone and MobiFone. Bui Quoc Viet, spokesman for VNPT, said
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
MobiFone now had six million 3G subscribers and the figure for VinaPhone was over two million.
And 3G services generate 13 percent of the firm’s revenue, he said.
Viet said VNPT would team up with Russia’s Alltech Telecom to form the RusViet Telecom joint venture to test-use 4G technology after obtaining a certificate from the Ministry of Information and Communications.
MobiFone plans to upgrade its 3G network to HSPA+ technology to improve its 3G services, and apply 4G technology.
VNPT is looking to launch 4G services in major cities where demand for high-quality services and high-speed data transfer is high.
Several seminars will be held during the three events on the topics of ICT development in government, education, health and public service agencies, opportunities and challenges for 4G networks in Vietnam, ICT application in enterprises, social network and value-added services. Saigon Times
$3.65 2011
PostedIETNAM by EXPECTS VBN on Nov DISBURSEMENT18 2011. AT BLN IN V ODA Vietnam expected to disburse $3.65 billion official development assistance (ODA) in 2011, increasing 3.1% from 2010 ( $3.541 billion), the Foreign Economic Relations Department under the Ministry of planning and investment said.
There are 51 existing bilateral and multilateral ODA donors for Vietnam. Sponsors 33 have signed ODA commitments worth $8.342 billion for Vietnam in 2011, of which, preferential ODA loans accounted for 87% and non-refundable ODA took 13%.
ODA capital for Vietnam did not fall despite the sponsors’ economies have been in trouble recently.
It is expected that there will have been $33.414 billion ODA disbursed by the end of 2011, accounting for 61% of the total committed ODA capital. Source TEI/StoxPlus
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PostedIETNAM by NEEDS VBN on BLNNov PER15 YEAR2011. FOR POWER TRANSMISSION PROJECTS VVietnam will spend around US$1 billion each year to develop power transmission facilities and is dependent on foreign financing sources, a state-owned company said.
According to the National Power Transmission Corp., Vietnam will develop between 300 and 350 transmission projects from 2011 to 2015.
Vu Tran Nguyen, deputy general director of the corporation, said his company is charging the lowest transmission price in the world, at only VND77.5 per kilowatt- hour. As a result, it does not have enough capital for reinvestment.
To arrange enough money for new projects, the company has to find loans from various sources, including the World Bank and the Asian Development Bank, Nguyen said.
General director Nguyen Manh Hung said transmission projects cannot be delayed otherwise the country will face a serious power shortage.
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He said new power plant projects should not be implemented until transmission grids have been completed. Without money for new transmission projects, many power plants will be useless, he added. Source Thanh Nien News
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ASTERN3 EUROPE Interfax WANTS : TORussia BE TAKEN & CIS OUT Energy OF RD Daily NERGY [Moscow] ACKAGE 16 SCOPE Nov 2011. TAP P LONDON. (Interfax) - Members in the consortium for building a pipeline to move Azerbaijani gas to Southern Europe, the Trans Adriatic Pipeline (or TAP), have requested that the European Commission remove the project out of the scope of the European Union's 3rd Energy Package, Mark Hoffman, TAP's external relations director, said during an interview with Interfax Global Energy Services.
Russia likewise seeks agreement with the EU that the package will not regulate the South Stream gas pipeline. South Stream is a competing project for delivering Azerbaijani gas to Europe without crossing Russian territory. The package stipulates for free third-party access to transportation infrastructure, and also requires that the gas-sales and gas-transport businesses be separated from one another.
Hoffman said that TAP remains open to new members and would welcome the State Oil Company of the Azerbaijani Republic (SOCAR), BP, and other project shareholders in the Shah Deniz project coming on board. 34 Commenting recently on the gas-transit agreement Azerbaijan and Turkey signed recently, Hoffman said that agreement gives BP and its Shah Deniz partners a delivery option to Nabucco.
The agreement establishes framework terms for the transit of 10 billion cubic meters (bcm) of gas through Turkey and the deliver of 6 bcm to that country. The most important thing, Hoffman said, is that the agreement sets comparable conditions for gas to transit through Turkey to other pipeline projects making up the Southern Corridor - TAP, SEEP (South East Europe Pipeline, proposed by BP), and ITGI (Interconnector Turkey-Greece-Italy ). "The transit agreement also provides a blueprint for Azerbaijan's pipeline options for the transit of Shah-Deniz II gas: either via an upgrading of the existing Turkish network operated by BOTAS or whether to construct a new transit pipeline," he said.
"TAP aims to construct a pipeline along an east-west axis from the Turkish-Greek border to southern Italy by way of Albania. In addition, TAP has been working hard in the last year and has signed several high level agreements with Western Balkan countries including an MoU [memorandum of understanding] with the Ionian Adriatic Pipeline (IAP). Connection to the IAP which runs along the western coastline of the Adriatic sea would enable TAP's shippers to supply markets to the Western Balkans as far north as Croatia--as well as established markets such as Italy, which is TAP's main target market, given that its shareholders EGL and E.ON both have gas-fired power plants that it needs to supply. Shah Deniz's developers have expressed a strong interest in supplying Italy and the energy-hungry Balkan countries," Hoffman said.
E.ON's evaluation is that the market in Southeastern Europe has the potential to increase demand for gas by 15 bcm by 2025, he pointed out. The pipeline's prospective throughput capacity is 10-20 bcm per year. TAP consortium members are EGL of Switzerland (42.5%), Statoil of Norway (42.5%), and E.ON Ruhrgas of Germany (15%).
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
The Shah Deniz project members are BP (operator, 25.5%), Statoil (25.5%), SOCAR (10%), Lukoil (10%), NICO (10%), Total (10%), and TPAO (9%). The development contract was signed on June 4, 1996.
The Shah Deniz consortium pledges to have selected the best pipeline project for moving Azerbaijani gas to market in Europe in the context of the deposit's Stage-2 development by the time 2012 rolls around. It will be choosing between ITGI, TAP, Nabucco, and BP's SEEP option. (Copyright (c) 2011 by Interfax Information Services B.V.)
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MojRAN NewsRMENIA Agency OWER [Tehran] RANSMISSION 30 Nov 2011,INE TO source: EACH AlEORGIA Bawaba (Middle East) Ltd. Nov 30, I2011 A P L
Armenia tends to start establishment of Iran-Armenia 400 kW high-voltage transmission line, Armen Movsisyan stated in Tbilisi on Tuesday. He visited Georgia with the delegation headed by the Armenian President Serzh Sargsyan, News AM reported.
"The line will be extended to Georgia, as well," Movsisyan added.
According to the Minister, the high-voltage transmission line will give several opportunities to Armenia. For instance, Georgia and Armenia will increase the electricity supply in the opposite direction for about three times.
Copyright ©-2011 Mojnews Agency. All rights reserved
Provided by Syndigate.info an Albawaba.com company Copyright Al Bawaba (Middle East) Ltd. Nov 30, 2011 35
ZERBAJDŽÁN RA - S 2011 M
IMF,EPUBLICOctober OF 30,ZERBAIJAN 2011 ONCLUDING TATEMENT OF THE RTICLE ONSULTATION ISSION A C A IV C Azerbaijan has experienced rapid economic growth and significant poverty reduction since the onset of the ongoing oil boom. Appropriate policies have helped maintain macroeconomic stability and allowed a buildup of buffers in the oil fund. Although growth slowed in 2009, following the global crisis, the country escaped serious negative consequences, and the non-oil economy has been performing strongly since then.
The key challenges in the period ahead are: (i) keeping inflation low, especially if overheating pressures intensify; (ii) preserving financial stability while addressing banking sector issues; and (iii) reorienting the economy away from its heavy dependence on oil-financed public spending, and toward private sector-led growth that is both sustainable and employment generating.
The mission recommends:
Restraining budgetary spending to contain demand pressures that could emerge in the near term, and committing to medium-term fiscal consolidation to allow better sharing of hydrocarbon wealth across generations; Allowing greater exchange rate flexibility to counter inflation and lower macroeconomic volatility, and strengthening monetary policy over the medium term;
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
Addressing issues at the International Bank of Azerbaijan (IBA) promptly, strengthening supervision and taking steps to deepen the financial system over the long term; Improving the business environment and eliminating governance constraints on private sector-led growth, especially for small and medium enterprises (SMEs).
1. An IMF staff mission visited Baku during October 20-November 2, 2011, to conduct the 2011 Article IV consultation discussions.1 It met with the Prime Minister, Minister of Finance, Chairman of the Central Bank of Azerbaijan (CBA) and other senior officials, representatives of the private sector, civil society and the diplomatic community. The mission thanks the authorities for the open and constructive discussions. The following statement reflects the mission’s findings.
Recent Economic Developments and Outlook
2. The non-hydrocarbon economy continues to grow strongly, and while inflation has moderated recently, it could rise in 2012. Non-oil growth is expected at near 9 percent in 2011, compared to 7½ percent last year, and could reach 6 percent next year, supported by public spending. Oil output dropped sharply in 2011 because of maintenance problems and shortfalls in new well delivery and hydrocarbon output is expected to remain broadly the same next year, and over the next decade, before beginning to decline.2 Inflation surged in late 2010 and early 2011, reaching 9½ percent in February, but dropped to 7.7 percent in September, mainly reflecting global food price trends. However, inflation is projected to rise to 8 percent by end-2011 as government spending increases and non-hydrocarbon output begins to exceed potential.
3. While the country’s medium-term economic prospects are favorable, they are contingent on the implementation of sound policies. Fiscal consolidation and structural reforms, including those related to business environment and governance, 36 could substantially boost private non-oil investment, including foreign direct investment (FDI), allowing the non-hydrocarbon economy to sustain medium term growth rates of 5-6 percent, with moderate inflation. In the absence of these reforms, however, both high growth and macroeconomic stability would be difficult to maintain.
Achieving Sustained and Inclusive Growth while Preserving Macro-financial Stability
4. Economic diversification requires moving from public spending-driven economic growth to one that is led by the private sector. Recent non-hydrocarbon economic growth, while impressive, has been heavily dependent on public capital expenditures, and largely concentrated in services and construction sectors. A sizable portion of the private non-farm sector is dependent on government contracts. Addressing business environment and governance constraints is critical in allowing the private sector to become a self-sustaining engine of economic growth and generating employment. In this vein, reforms that improve competition and ease trade barriers would be key. Attention is also warranted on improving governance, on which Azerbaijan lags many comparator countries. While recent measures, including the introduction of e- Government, would help, efforts to reduce opportunities for corruption should be sustained.
5. Fiscal consolidation would be necessary in 2012 to preserve macroeconomic stability. Spending planned under the 2012 consolidated budget is high in magnitude, with a large capital expenditure component, and, if fully implemented, could raise the non-hydrocarbon deficit to more than 50 percent of non-hydrocarbon GDP, compared to an average of about 38 percent in 2008-10. With output expected to reach potential in late 2011, the mission believes such a large fiscal expansion could result in overheating pressures. A lower non-hydrocarbon deficit—by about 10 percentage points of non-hydrocarbon GDP—relative to the level envisaged in the draft budget would be consistent with the economy’s absorptive capacity and macroeconomic stability, and would still allow for sizable investment spending.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
6. The finiteness of Azerbaijan’s hydrocarbon resources underscores the need for the authorities to make a firm commitment to medium term fiscal consolidation. As the economy has recovered well from the 2008-09 global financial crisis, fiscal sustainability considerations should now take precedence in economic policymaking to ensure the benefits of the hydrocarbon wealth are shared across generations. A permanent-income fiscal rule, whereby the government consumes a constant return on its net wealth—both below and above the ground—could anchor consolidation efforts. This would imply a reduction of the non-hydrocarbon deficit to about 18 percent of non-hydrocarbon GDP in 2017. To help build public support for the fiscal consolidation, the mission recommends employing a medium-term budget framework with indicative annual targets for the non-hydrocarbon fiscal balance.
7. Reforms of government revenues and investment spending could complement medium term fiscal consolidation efforts. Non-hydrocarbon revenues could be boosted, without raising tax rates, by streamlining exemptions, applying the tax and customs procedures more uniformly and enhancing competition in the private sector. The ongoing modernization of tax administration, including the introduction of online submission, will help in this regard. Recent steps to increase budget transparency are also welcome and should be supplemented with improvements in the quality of public spending, particularly in the selection and appraisal of public investment projects.
8. Monetary tightening would be warranted in the near term if demand pressures intensify with rising public spending. Sharp changes in global food prices, combined with ad hoc increases in public spending have complicated CBA’s task of keeping inflation low and stable. If demand pressures emerge as a consequence of high public spending and a closing of the non-oil output gap, later in 2011, then allowing greater exchange rate flexibility, including by introducing a sufficiently wide exchange rate band, would be appropriate. The mission believes that the economy’s competitiveness can be adequately preserved by keeping inflation low and stable and 37 preventing real exchange rate appreciation. The mission’s analysis of the real effective exchange rate suggests that the manat remains broadly aligned with the economy’s medium-term fundamentals.
9. Over the medium term, the authorities would be well served to strengthen monetary policy tools to be able to better control inflation. A move away from the exchange rate as the nominal anchor, and a more active focus on inflation and output volatility—through a greater reliance on interest rates and a flexible exchange rate— would improve macroeconomic stability and help deal with real shocks. But this would require a substantial deepening of the government securities market—even in the absence of the need to finance the government today—developing currency risk mitigation instruments, developing interbank credit market, improving monetary-fiscal coordination, and reducing distortions in interest rates and pricing of government securities.
10. IBA’s soundness needs to be improved without delay, while preserving financial stability. The mission welcomes the appointment of consultants to devise a privatization strategy for IBA. Findings of a recent audit underscore the need to strengthen the bank’s liquidity and capital. To avoid exposing CBA’s balance sheet, liquidity support to IBA should be collateralized. Government recapitalization of the bank should be undertaken in line with implementation of a clear action plan to restore the bank to good health. Future plans should also include ways to reduce IBA’s systemic importance, and privatization undertaken transparently and with a clear timetable. IBA should limit additional financing from abroad because given its poor health, such borrowing imposes contingent liability on sovereign resources.
11. Banking supervision should be strengthened and macro-prudential measures applied more proactively. The recent adoption of a leverage ratio and increase in reserve requirement on foreign exchange deposits should help reduce risks in the financial system. To help prevent a buildup of future risks, the mission encourages the authorities to proactively apply macro-prudential regulations. Enforcement of CBA supervision and prudential regulations should be applied uniformly across all banks.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
Since the economy has been recovering well following the global shocks of 2008-09, CBA should unwind its directed lending to state enterprises, and limit future financing to a purely “lender of last resort” type operation, with appropriate collateral requirement.
12. Medium-term measures to deepen the financial sector are also necessary. The mission welcomes ongoing efforts to strengthen capital markets—with World Bank support to develop long-term instruments for savers and investors. Financial deepening would also require leveling the playing field across all banks; consolidating private banks into viable and competitive entities; and developing appropriate credit infrastructure—e. g., enforcement of contracts and setting up a credit bureau.
13. Sovereign reserves provide a sizable buffer to mitigate the impact of global or regional shocks. Azerbaijan is less reliant on non-oil exports and remittances than other countries in the region—these inflows account for less than 10 percent of current account receipts. However these links are primarily with CIS countries and the evidence from the 2008-09 global crisis suggests a regional slowdown could spill over to the Azeri economy. Notwithstanding the heavy dependence on oil, the direct effects of a significant but temporary decline in global oil prices can be mitigated by the cushion provided by the oil fund. The mission recommends that if such spillovers do threaten a domestic economic slowdown, then the authorities should provide a temporary fiscal stimulus to the non-oil economy. If large non-financial state enterprises face problems, then support should be provided directly from the budget, rather than through CBA.
1 The mission comprised Mr. Ilahi (head), Ms. Albino-War, Mr. Shahmoradi, Mr. Song and Ms. Yang.
38 2 The increase in wealth and future revenue associated with the recent natural gas discovery is significantly less than would be implied by the volume of the resource, because natural gas prices are typically one fourth of oil prices.
50%
KyivKRAINE Post, WILLING Nov 21TO GIatVE 15:53 ZERBAIJAN | Interfax -DISCOUNTUkraine AT IVDENNY OIL TERMINAL UUkraine is ready to giveA Azerbaijan a 50% discountP on port duties for vessels that enter the Pivdenny oil terminal (Odesa region) for freight transactions with Azerbaijani oil that will be transported through Ukraine. á The decision is contained in a draft bill registered in parliament on the ratification of a cooperation agreement with the government of Azerbaijan relating to transport of oil through Ukrainian territory.
Ukratransnafta and the State Oil Company of Azerbaijan or companies affiliated to it will agree on the volumes of oil for delivery, transport and transit with the Ukrainian oil pipeline system, the transport tariff, qualitative features and technical conditions.
Earlier Ukrainian Deputy Energy and Coal Minister Serhiy Chekh said the document states that Ukraine is willing to pump 16 million to 20 million tonnes of Azerbaijani oil through its territory, including 13 million to 17 million tonnes for transit.
The agreement envisages transportation of up to 3 million tonnes of Azerbaijani oil via internal routes to Drohobych Refinery Halychyna, Lviv region) and Nadvirniansky Refinery (Naftokhimik Prykarpattia, Ivano-Frankivsk region), as well as up to 5 million tonnes to the west (Hungary, Slovakia, the Czech Republic) and 8 million to 12 million tonnes to Belarus.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
The explanatory note for the agreement says Azerbaijani oil could be transported to refineries in Poland via the Ukrainian, Belarusian and Polish branch of the Druzhba Pipeline (before completion of the Odesa-Brody-Plock Pipeline).
"Organizing oil supplies via the indicated routes will be particularly relevant in the context of Russia's launch of the Baltic Pipeline System-2, which will redirect considerable volumes of transit oil from existing delivery routes," the note says.
A bilateral agreement with Azerbaijan on oil transportation was signed in January 2011 during the World Economic Forum in Davos. Baku ratified the intergovernmental agreement in May.
Ukrtransnafta oil transportation volumes dropped 22.7% in 2010 to 29.8 million tonnes and oil transit fell 30.8% to 20.14 million tonnes.
Read more: http://www.kyivpost.com/news/business/bus_general/detail/117331/#ixzz1fUhGU2OV
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KyivURKEY Post, TO CARRY Nov 18ZERI | Associated GAS TO UROPE Press ANKARA, Turkey (AP)A — Turkey says last month's deal with Azerbaijan to transport Azeri gas to Europe complements the European Union-backed Nabucco pipeline project — aimed at reducing the bloc's dependence on deliveries from Russia.
Energy Minister Taner Yildiz says Friday the two have not yet decided whether to build a projected pipeline, the Trans Anadolu, or use Turkey's existing network to transport Azeri gas.
Yildiz says the project does not rival the Nabucco project, and both projects can 39 even be merged. Azerbaijan has already agreed to supply Europe with substantial volumes of gas. Yildiz says the deal is likely to make Nabucco and other smaller gas pipeline projects to Europe more viable. Read more: http://www.kyivpost.com/news/world/detail/117246/#ixzz1fUhuBEBM
R BELARUS NovELARUS 25 at TO 20:14 GET LOAN | Interfax FROM USSIA-Ukraine TO BUILD NUCLEAR POWER PLANT GORKIB - Russia and Belarus signed a set of agreements after a meeting of the Supreme State Council of the Union State of Russia and Belarus on Friday.
One of them is an accord under which the Russian government is to provide its Belarusian counterpart with a loan for building a nuclear power plant in Belarus.
Another is an agreement on control over the availability and use of military supplies under the December 2009 Treaty on the Development of Military Technological Cooperation between the two countries.
Friday's documents also include a set of energy agreements, among them a contract on exports of natural gas from Russia to Belarus in 2012-2014 and a deal between Russia's Gazprom and Belarus' Beltransgaz on the transmission of natural gas through Belarusian territory in the same period.
Gazprom and the Belarusian State Committee for Property signed an agreement on the purchase of shares in Beltransgaz by the Russian firm.ne more agreement is a cooperation deal between Belarusian Automobile Plant and Russian company Mechel.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
Read more: http://www.kyivpost.com/news/russia/detail/117654/#ixzz1fUhB6PBX
MINSK, SEES Dec NO 1 ELARUS(Reuters) LOAN - TALKS The InternationalTHIS YEAR Monetary Fund will not enter talks with crisisIMF -hit BBelarus on a loan deal this year, it said on Thursday, citing Minsk's failure to commit to reforms.
Belarus asked the Fund in June for a loan of up to $7 billion to help it weather the financial crisis that triggered sharp rouble devaluation and spiralling inflation this year.
But the Fund has said it wanted to see market reforms and a clear commitment to macroeconomic stabilisation first. Minsk has since taken steps such as raising interest rates and allowing free currency trading.
However, this month authoritarian President Alexander Lukashenko criticised the government for going too far with painful reforms and ordered it to focus on protecting people's well-being and achieving economic growth instead.
The Fund responded by warning Belarus such policies were not bringing it closer to a bailout deal.
"We do not expect to have programme negotiations this year," Natalia Koliadina, IMF resident representative in Belarus, told Reuters.
"While the authorities have implemented some measures which could help (in) achieving macroeconomic stability, we have not seen sufficient evidence of strong commitment, particularly at the highest level, to macroeconomic stabilisation and structural 40 reforms." Consumer prices in Belarus doubled in the first 10 months of this year after two rouble devaluations that have slashed its value against the dollar by about 65 percent. The crisis was largely brought on by excessive government spending in 2010, when it raised public sector wages and pumped cheap loans into the economy as Lukashenko campaigned for a fourth term in office.
Lukashenko won the December 2010 vote which was criticised by Western observers as fraudulent and cracked down on subsequent public protests, prompting the European Union and the United States to introduce sanctions against his cabinet. Poor ties with the West and the IMF's tough position prompted Minsk to seek help from Russia, which has agreed to less stringent lending conditions and is set to provide about $5 billion to Belarus this year in loans and investments.
However, Moscow also said this week it wanted Belarus to further tighten monetary policy by raising interest rates to the market level, a move that is certain to slow down economic activity. Read more: http://www.kyivpost.com/news/russia/detail/117968/#ixzz1fUfuSDAc
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AsiaTRENGTHENING News Monitor TRADE [Bangkok] TIES BETWEEN 30 Nov IETNAM 2011. AND ELARUS According to her, both countries Vare implementingB cooperation projects in many fields, including industry, truck assembly, oil and gas exploration, forestry product processing, education and training, and labour. Opportunities to invest in Belarus were introduced at a workshop in Hanoi on November 30. Pham Thi Thu Hang, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI), noted that Vietnam and Belarus have developed good traditional relations and they have already signed many agreements to increase bilateral cooperation.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
Vietnam has always attached importance to boosting cooperative relations with other countries, including Belarus, said Hang.
She went on to say that bilateral economic and trade ties have grown and flourished in recent times, opening up a new chapter for stronger Vietnam-Belarus relations.
According to her, both countries are implementing cooperation projects in many fields, including industry, truck assembly, oil and gas exploration, forestry product processing, education and training, and labour. Belarus has an advantage in industrial development, road and bridge construction, automobile manufacturing, as well as chemical, petrochemical and hi-tech industries.
The VCCI leader said that the current relationship does not match the potential of both sides and that businesses play an important role in moving cooperative relations forward. Vietnam is accelerating reforms and developing infrastructure to attract foreign investment, she added.
Myatlicov Michael Michailovich, Chairman of Belarusian Chamber of Commerce and Industry, said Belarus always pays special attention to developing industries, particularly machinery and chemical manufacturing, petrochemistry, and wood processing.
He expressed hope that Vietnam and Belarus will have successful cooperation in the future given the similarities between the two countries.
Belarus now has trade relations with more than 180 countries around the world. It exports approximately 1,000 types of goods, mostly petroleum, automobiles, agricultural machinery and their spare parts. - VOV Copyright Thai News Service Group Nov 30, 2011
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$3.7 2012
InterfaxELARUS LOOKS : Russia TORAISE & CIS ATLEAST Business BLN& Financial INNET FOREIGN Daily IN VESTMENT[Moscow] IN29 Nov 2011. BMINSK. (Interfax) - Belarus plans to raise at least $3.7 billion in net foreign direct investments next year, the deputy head of the country's National Agency for Investments and Privatization's regional development department, Oksana Krupa, announced in Minsk on November 29.
"Our goal for next year is raising not less than $3.7 billion in net foreign direct investment," Krupa said at the business forum Investment and Privatization Opportunities in Belarus: Potential and Risks.
This is an "ambitious goal," she said. "The privatization processes in Belarus are gaining steam, and I think that is goal is realistic," she said.
The figure for this year is estimated at $1.7 billion, she said.
Last year, the Belarusian economy attracted $5.5 billion in foreign direct investment, Krupa said. "But this figure includes both intake by the charter capital of enterprises and credits received by joint enterprises from the parent company, delivery of leased equipment, financial and material resources supplied for the realization of projects by joint and foreign enterprises," Krupa said.
She also said that privatization in 2012 is expected to fetch $2.5 billion. She noted that 2,000 state enterprises are slated to be put up for tender at a price 20% of estimated value.
State stock in 35 companies sold this year netted 150 billion Belarusian rubles in all, she said.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
The areas most interesting to foreign investors are such sectors as transport, construction, industry, banking, and over the last few years, tourism, Krupa said.
In 2012, Belarus plans to roughly halve the volume of state-program financing, Krupa said. "Where in 2010 that figure was 8.4% of GDP, it will be 2.4% in 2012," she said. (Copyright (c) 2011 by Interfax Information Services B.V.)
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HE WORLD BANK HAS RECOMMENDED THE BELARUSIAN AUTHORITIES CARRY OUT COMPLEX BUDGET InterfaxREFORMS : Russia & CIS Banking & Finance Weekly (Nov 11, 2011).
MINSK. (Interfax) - The World Bank has recommended the Belarusian authorities carry out complex budget reforms with the aim of reducing spending and lowering the tax burden, the World Bank office in Belarus said in a press release following November 1's presentation of a new World Bank report - Public Expenditure Review: Fiscal Reforms for a Sustainable Economic Recovery.
The report is the first volume of a two-phase Public Expenditure Review, offering fiscal reform options available across priority areas of the budget. The recommendations aim to reduce the public sector footprint and deliver a more efficient and smaller public sector in Belarus, with appropriate mitigation measures for the most vulnerable.
"Despite a significant fiscal consolidation over the past three years, government continues to spend about 44 percent of GDP. This is about 3 percentage points higher than the regional average and about 5 percentage points above countries with similar per capita income. The resulting size and structure of the tax burden undercuts the competitiveness of the economy. Moving forward, comprehensive fiscal reforms, 42 encompassing both the structure of expenditures and revenues are required," the release cites Gallina Andronova Vincelette, World Bank Senior Economist, and lead author of the report, as saying.
The report provides recommendations for the needed realignment in selected areas of the budget - pension, social assistance, energy services and agriculture - and suggests options that could generate savings of up to 4 percent of GDP annually in the medium term.
World Bank experts recommend speedy reforms to the budget sector together with immediate macroeconomic adjustments, considering the dangerously low level of reserves and fast weakening of the exchange rate. "Amid the current volatile macroeconomic backdrop, Belarus is facing pressure on its budget, which is associated with the need to fight the serious imbalances as well as deepen structural reforms," the report says.
"The low obvious budget deficit provides only a partial view of the overall state of the budget and fiscal risks," the report authors say. A more precise evaluation of the budget deficit will be carried out in the second phase of the report.
The report points out the quasi-fiscal nature of government program funding, carried out through state-owned banks on easy terms with subsequent compensation of bank losses from the budget. Studies show that in 2009-2010, government program funding grew 60% annually. Over 60% of the loans that had been allocated by banks by the end of 2010 were associated with funding for government programs. The World Bank estimates that funding for government programs made up 8.5% of ~GDP in 2010 and debt on such loans reached 25.5% of GDP in 2010, while the past-due debt of government companies to government banks exceeded 15% of GDP.
The World Bank recommends that Belarus cut spending on agriculture, which exceeds 10% of budget allocations. "The unreformed and underperforming agricultural sector of
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
Belarus is a burden on the state budget. The sector contributes 8% to GDP while absorbing as much as 5% of GDP in the form of state support. The sector is largely unprofitable, with enterprises registering soaring levels of debt that pose a significant fiscal risk. The reform agenda in agriculture requires a set of inter- related fiscal and structural reforms, including reduction of state support and agricultural subsidies," the report says.
The World Bank wants Belarus to review what it considers to be unfair subsidies in the energy sector. The fiscal cost of underpriced energy has risen to around 2% of GDP amid rising costs for Russian energy resource imports. "The reform agenda in agriculture requires a set of inter-related fiscal and structural reforms, including reduction of state support and agricultural subsidies," the report says.
"Belarus operates one of the most extensive social assistance systems in the region, with total spending equal to 2.7% percent of GDP and reaching about half of the population. Categorical transfers dominate social assistance programs, with income- tested programs accounting for negligible share of spending. As a result, substantial social assistance benefits flow to households with high income. The system requires realignment of spending from untargeted to targeted programs," the report says.
The World Bank hopes Belarus will reform its pension system. "Belarus' aging population will put growing pressure on the pension system. As a consequence, the pension fund is projected to move from surplus into a structural deficit as early as 2014, while income replacement rates for future pensioners would decline," the report says. The World Bank recommends that the pension age be raised, that there be indexation of benefits to inflation as opposed to wages, that contribution rates be reduced and that notional accounts be introduced.
Subsidies and transfers in Belarus in 2003-2011 made up 22% of budget spending, the World Bank says. Over 12% of this spending was made up of transfers on social 43 insurance and other social programs, the rest was almost evenly distributed in subsidies for producers and consumers.
The report notes that taxes in Belarus are among the highest in the region and this has a negative impact on competitiveness. Tax reforms should be aimed at lifting tax privileges and distortions while lowering existing direct tax rates, such as profit tax and wage fund tax, the report says. (Copyright (c) 2011 by Interfax Information Services B.V.)
R 2015
VILNIUS.OWER LINE Nov TO 24EXPORT (Interfax) USSIAN - ELECTRICITY A power tra TOnsmission OLAND MIGHT line BE between BUILT BY Russia and Poland that Pwill make it possible to export electricityP from the Kaliningrad Region could be built by 2015, the head of engineering project management at nuclear energy company Rosatom, Sergei Boyarkin said.
"We expect that this electricity bridge will appear approximately by 2015," Boyarkin, who is heading the project to build the Baltic Nuclear Power Plant, told reporters.
The line from Russia to Poland will run from the town of Mamonovo in Kaliningrad Region. It is expected to have maximum capacity of 800 MW.
Boyarkin also said that the existing power line between Lithuania and Kaliningrad should be expanded. "The lines are single-circuit, so with little expense it is possible to increase their capacity and thus make Lithuania a transit country through which electricity would go to Scandinavian countries," he said.
The maximum transmission capacity between Lithuania and Kaliningrad is currently 680 MW.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
The spokesperson for Lietuvos energija, Vilija Railaite said this capacity is currently sufficient, but it will not be enough if the NPP is built.
The Kaliningrad energy system was short of power until recently, but the second 450 MW unit of the Kaliningradskaya 2 combined heat-and-power plant was launched at the end of 2010.
In addition, Rosatom has begun building the Baltic NPP in the region. The first reactor is scheduled to be launched in 2016, and the second in 2018. The plant will have combined capacity of 2,300 MW.
The region expects to supply its extra power to the BRELL (Belarus-Russia-Estonia- Latvia-Lithuania) electricity ring, and in future to Poland. If line-use agreements are reached with Lithuania and Estonia, power could also be exported to Finland and Sweden. There are also plans to export electricity from Kaliningrad Region to Germany via underwater cable.
Exports will require major construction of network infrastructure.
The financing arrangements for the Baltic NPP are being handled by Inter RAO UES (RTS: IRAO). The company is compiling a plan for allocating the plant's capacity and holding talks with investors.
Inter RAO and Switzerland's Alpiq AG signed a memorandum of mutual understanding in November to look into the possibility of cooperation on a project to lay an underwater power line linking the energy systems of Kaliningrad and Germany. There is no reference yet about participation in construction of the cable - the document only provides for developing draft contracts for electricity exports from Russia.
It was reported earlier that Inter RAO was prepared to invite France's EDF to take 44 part in the cable project. (Copyright (c) 2011 by Interfax Information Services B.V.)
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N.Kirtskhalia.ZECH FIRM ETOR McClatchy TO OPEN ASSEMBL - TribuneY PLANT Business IN EORGIA News [Washington] 29 Nov 2011. C Z Nov. 29--TBILISI, Georgia -- The largest Czech manufacturer of tractors Zetor Company, intends to open an assembly plant in Georgia, the Prime Minister of Georgia Nika Gilauri, told journalists on a working visit to the Czech Republic..
He attended the Georgian-Czech business forum, organised by the Energo-Pro Company, which works in the Georgian energy sector.
Mr Gilauri said that an agreement to open the plant had been reached. "It is very important for Georgia, as we need to create new jobs and develop production," he said.
He went on to highlight an agreement reached with the Czech Eximbank to grant loans to companies that want to do business in Georgia. "First and foremost, Czech businessmen are interested in the energy, transport and agriculture sectors in Georgia," he said.
He also said another agreement was reached during the business forum. The Energo-pro company which has been engaged in the energy distribution in the Georgian regions for several years, has decided to build a hydropower plant there, but it is uncertain which of the 10 planned hydropower plants the Czech company will build.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
_(c)2011 Trend News Agency (Baku, Azerbaijan) Visit Trend News Agency (Baku, Azerbaijan) at en.trend.az Distributed by MCT Information Services
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InterfaxHINA TO INVEST: Russia & MLNCIS INBusiness CREATION and OF EFinancialCONOMIC ZONE Newswire IN EORGIA [Moscow] 30 Nov 2011. TBILISI.C Nov 30 (Interfax) - Georgia's Economy and Sustainable Development Minister Vera Kobalia and the General Director of the China's Xinjiang Hualing Industry & Trade (Group) have signed a memorandum of cooperation in which the Group has committed to creating an international special economic zone in Tbilisi over the course of three years.
"In accordance with the memorandum, the Chinese side will invest no less than $150 million in this project," the ministry told Interfax. There are plans to complete the project by 2015, when the European Youth Olympic Festival will be held in Tbilisi.
The project provides for the construction of a hotel with a total area of 65,000 square meters, as well as a housing complex, commercial facilities, recreational zones and entertainment centers, a ministry representative said. In order to carry out the project, Chinese investors have been allotted a 420-hectare land plot on preferential terms. There is already such an international special economic zone in China's Xinjiang province, he said.
The general assembly of the European Olympics Committee made the decision in Belgrade in November 2010 to host the 2015 European Youth Olympic Festival in Tbilisi.
45 G $40 - Interfax TO EXTEND : Russia EORGIA & CIS Business MLN FOR andWATER FinancialSYSTEM UPGRADENewswire [Moscow] 01 Dec 2011. ADB TBILISI. Dec 1 (Interfax) - The Georgian Finance Ministry and the Asian Development Bank (ADB) signed a credit agreement on Thursday for $40 million as a second tranche of an ADB credit providing $500 million for the reconstruction and building of water systems in Georgian regions.
Georgian Finance Minister Dmitry Gvindadze said after the signing ceremonies in Tbilisi that this tranche represents some of the financing for a major investment program that involves the modernization of water and sewage infrastructure in the towns of Kutaisi, Poti, Zugdidi, Marneuli, Mestia, and Anakliya.
"The second tranche, like the first of $80 million issued by the ADB in June of this year in the context of this program, is extended for a period of thirty-two years with an eight-year grace period at 1%-1.5% per annum," Gvindadze said.
The framework agreement between the Georgian government and the ADB concerning the financing of this program was signed March 1 this year.
The ADB is financing several major projects in Georgia, in the context of which the republic will receive credits of more than $1.3 billion. Per the framework agreement, financing is to be provided for building and rebuilding roadways ($500 million) and developing and modernizing city transport infrastructure ($300 million).
Georgia has been a member of the ADB since February of 2007. Over this period it has received credits totaling $365 million, mainly for budget support and financing infrastructure projects. (Our editorial staff can be reached at [email protected]) (Copyright (c) 2011 by Interfax Information Services B.V.)
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
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Kirtskhalia,EORGIA TO RECEIVE NView FO ProREIGNfile. LOANS McClatchy TO DEVEL -OP Tribune INFRASTRUCTURE Business News [Washington] 02 Dec 2011. Dec. 02--TBILISI, Georgia -- The agreement was signed at the Georgian Foreign Ministry to allocate additional loans to improve infrastructure, the government said today. According to the document, 4 million euros will be allocated to Georgia. The document was signed by Finance Minister Dmitry Gvindadze and the head of environmental protection group at the German credit bank for reconstruction (KfW) Arne Goss.
The agreement includes the allocation of additional funds to rehabilitate houses for internally displaced people in Western Georgia. The sewerage system, water supply, housing and living conditions of refugees in Poti, Zugdidi, Kutaisi and Batumi will be also improved. _(c)2011 Trend News Agency (Baku, Azerbaijan) Visit Trend News Agency (Baku, Azerbaijan) at en.trend.az Distributed by MCT Information Services
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N.KirtzkhaliaViewEORGIAN DEBT TO ZERBAIJANProfile. AMOUNTSMcClatchy TO - Tribune MILLION Business News [Washington] 05 Dec 2011. A Dec. 05--TBILISI, Georgia -- The external borrowings of Georgia amounted to $4,252,236 as at October 31, Ministry of Finance said to Trend on Monday.
The ministry noted that the external debt owed by Georgia to 17 countries was $628 807. Georgia's bilateral creditors are Germany, where the debt is $263 687, Russia $112 642 000, Japan $64 974 000, the United States $34 505, Kazakhstan $27 774 000, Turkey 46 $26 106, Kuwait $26 054 000, France $19 253 000, Armenia $16 280, Azerbaijan $13 662 000, Iran $10 683 000, Holland $7352, China $4717, Uzbekistan $340, Ukraine $311, Austria $255 and Turkmenistan $211.
External debt from the sale of government securities (Eurobonds) was $564.75 million and loans under state guarantee were $3, 54 million.
The debt of Georgia to international financial institutions amounted to $3,055,139 dollars. This included $1,220,806 to the International Development Association (part of a group of World Bank), $1,057,002 to the International Monetary Fund, $362 655 to the Asian Development Bank, $272.97 million to the International Bank for Reconstruction and Development (a part of the World Bank ), $69 307 to the European Bank for Reconstruction and Development, $48 079 to the European Investment Bank and $24 318 the International Fund for Agricultural Development.
Georgia's external debt in the previous month to October 31 amounted to $4,162,344. Its foreign debt rose by $89 887 in October 2011 compared to $416 599 in October 2010. Credit: Trend News Agency, Baku, Azerbaijan
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InterfaxLECTRICITY : CONSUMPTIRussia & CISON INBusiness EORGIA RISESand Financial IN AN NewswireEPT [Moscow] 28 Nov 2011.
TBILISI. Nov 28 (Interfax) - Electricity consumption in Georgia grew 8.2% year-on- year in January-September 2011 to 6.7 billion kilowatt hours, the Energy and Natural Resources Ministry told Interfax.
Subscribers of Energo-Pro Georgia (former United Energy Distribution Company of Georgia), which is owned by Czech company Energo-Pro, consumed 2.52 billion kilowatt hours in the nine months, up 24.4%. Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
The second largest consumers were the customers of Tbilisi electricity distribution company Telasi, which is controlled by Inter RAO UES (RTS: IRAO), consuming 1.46 billion kilowatt hours, a 1.8% increase. Third were major companies and organizations with direct energy supply agreements with Electricity System Commercial Operator, which used 1.39 billion kilowatt hours, a 10% reduction.
Abkhazia increased electricity consumption 15% in the nine months to 1.13 billion kilowatt hours, Kakheti Energy Distribution, which is owned by Lithuania's Achema Group, used 183.9 million kilowatt hours, up 5%.
Georgia produced 7.66 billion kilowatt hours of electricity in January-September 2011, 0.5% less than in the same period of 2010. The country imported 228.5 million kilowatt hours of electricity, a 380% increase, in the nine months, and exported 879.3 million kilowatt hours, down 33.7%.
(Our editorial staff can be reached at [email protected])
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InterfaxEORGIA PROPOSES : Russia & CIS MLN Business CASCADE and Financial PROJECT Newswire [Moscow] 28 Nov 2011. TBILISI. Nov 28 (Interfax)HPP - The Georgian government has announced it is accepting proposals from investors interested in a project to build the Namakhvani HPP cascade on the River Rioni, the Georgian Energy and Natural Resources Ministry reports on its website.
"Proposed investment in the project is $850 million," the ministry says.
The cascade of three hydro power plants Namakhvani (250 megawatts), Zhoneti (100 megawatts) and Tvishi (100 megawatts) will be built in the Racha-Lehkhumi region 47 (Western Georgia).
The potential investor will obtain the right to own and operate the cascade.
The Energy Ministry said that according to the project's feasibility study, which was written by E.C. Hydroprojekt International Ltd., and evaluations carried out by various international companies on the impact it will have on the environment, the plant is "acceptable from a technical, economic and environmental point of view."
As reported, until recently various Georgian non-government environmental organizations had said such a major facility could not be built in a highland, avalanche-prone and seismic region.
The government in December 2009 signed a memorandum on construction of the cascade with a consortium consisting of Korea's KEPO and SK E&C (SK Engineering & Construction., Ltd) and Turkey's Nurol. The project was expected to cost $1 billion. However, the memorandum did not develop into an agreement.
Georgia is not announcing an auction but once it obtains confirmation that there is interest in the project it may move to accepting bids for tender. (Our editorial staff can be reached at [email protected])
Kirtskhalia,OLL OF INTERESTS N. McClatchyANNOUNCED - Tribune Business News [Washington] 25 Nov 2011. P Nov. 25--TBILISI, Georgia -- The Government of Georgia is announcing a poll of interests for the construction and operation of a series of Namakhvani hydro power plants, the Energy and Natural Resources Ministry of Georgia told Trend on Friday.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
As previously reported, the plant's designed production capacity is 450 megawatts with an average yearly production of 1,600 gigawatts per hour and the approximate value is $850 million in investments.
As indicated by the feasibility study developed by international companies, the project is viable from both the ecological and social environment impact and the technical economic side. _(c)2011 Trend News Agency (Baku, Azerbaijan) Visit Trend News Agency (Baku, Azerbaijan) at en.trend.az Distributed by MCT Information Services Word count: 113
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Kirtskhalia, PEOPLE NView TO Profile. BECOME EMPMcClatchyLOYED DUE - TOTribune PLANT BusinessCONSTRUCTION News IN[Washington] EORGIA 25 Nov PM:2011. Nov. 25--TBILISI, Georgia -- Prime Minister of Georgia Nika Gilauri said 13,000 people will receive jobs under construction of hydro power plants in Georgia.
The official told the Parliament today that 13,000 people will be employed under construction of 10 new hydro power plants valued at a total of more than $3.5 billion in investments.
He noted that Georgia is the key electricity exporter in the region, which is the result of the correct energy policy.
Christian-Democrat MP Levan Vephvadze said though people are getting employed under construction of the power plants, this won't mean long-term, lasting employment. In his speech, the MP said the real benefit from construction of the hydro power plants is that it will lead to a decrease of electricity tariff and subsequently to the real 48 economic growth.
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InterfaxEORGIA ANNOUNCES : Russia INT& CISL PIPE Business TENDER & FOR Financial PIPELINE Daily [Moscow] 22 Nov 2011.
TBILISI. (Interfax) - JSC Georgian Oil and Gas Corporation (GOGC) announced on November 22 an international tender for the purchase of pipe and other materials and equipment for the building of a 47-kilometer section of the Kutaisi-Abasha trunk gas pipeline.
GOGC told Interfax that bids will be accepted from December 16 to 21. Per the terms of the tender, a bidder is to provide a bank guarantee of 1% of the value of the offer, and the winner - 5% of contract value. The delivery of pipe, cranes, and joints is to be effected not later than 120 days after the conclusion of a contract with the tender's victor.
The Kutaisi-Abasha pipeline project will link the town of Poti and the free-industry zone being created there, and also the regional centers of Abasha, Senaki, and Khobi with the existing gas-pipeline network Vostok-Zapad (East-West). The project is being financed with an investment grant of $124 million from the United States Agency for International Development (USAID) to the Georgian government for the development of energy infrastructure. METALS & MINERALS (Copyright (c) 2011 by Interfax Information Services B.V.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
AnonymousView LAUNCHES NEW Profile. PROJECT TrendTO SUPPORT Capital. AGRICULTU EnglishRAL [Baku]DEVELOPMENT 22 Nov IN 201 NEIGHBOURING1. COMMUNITIES BP BP and its co-venturers in the Azeri-Chirag-Gunashli (ACG), Baku-Tbilisi-Ceyhan (BTC), Shah Deniz (SD), and South Caucasus Pipeline (SCP) projects launched a major sustainable development initiative in support of the communities neighbouring BTC/SCP pipelines, BP reported on Tuesday.
The project is designed to provide sustainable income generation and capacity- building opportunities for community members involved in the agricultural sector.
The programme scope includes construction of 132 greenhouses, a community bakery and 96 bee keeping set-ups and equipment in addition to transference of skills and knowledge required to sustainably manage these businesses and facilities.
Within the project it is expected to open up additional markets, create new job opportunities and strengthen self help possibilities.
The realization of the project will help to increase business technical capacity among targeted beneficiaries, provide benefits to the environment including support for biodiversity, provide opportunities to reuse the project components by others within the same communities as well as other communities.
The project will be implemented by Ganja Agribusiness Association (GABA), which is a local non-governmental organization, in collaboration with the Azerbaijan State Agricultural University located in Ganja.
BP and co-ventures' contribution to the project is up to $800,000 while the communities themselves will contribute about $230,000 and GABA about $14,000.
49 The duration of the project is two years (November 2011 - November 2013).
According to Vice-President of BP, Seymour Khalilov, the company and its co-venturers have firm commitment to working closely with all of neighbouring communities to help them create development opportunities and obtain skills and knowledge that will ensure that these opportunities are sustainable.
He said that the initiative aims to provide significant agricultural business opportunities. Edited by: A.Badalova
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Kirtskhalia,NVESTMENTS IN N. EORGIAMcClatchy TO REACH - Tribune BLN Business BY LATE News [Washington] 18 Nov 2011. INov. 18--TBILISI, Georgia -- Volume of investments in Georgia will reach one billion dollars by late 2011, Georgian Economy and Sustainable Development Minister Vera Kobalia said on Thursday.
This statement was made at the Tbilisi Hotel "Radisson", where the international publication
"The Economist" held a conference on Georgia's economic opportunities. Kobalia said Georgia receives investments in various sectors, including in the energy sector.
"With regard to energy contracts, I can say that investments will increase significantly from 2012, as we have already concluded twice as many contracts," she said.
Also, Kobalia said, the Georgian National Investment Agency intensively works on the development of textile industry in the country.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
"In this regard, Turkey displays particular interest in the development of textile business in Georgia, and now a series of talks with Turkish investors are underway," Kobalia said. Credit: Trend News Agency, Baku, Azerbaijan _(c)2011 Trend News Agency (Baku, Azerbaijan) Visit Trend News Agency (Baku, Azerbaijan) at en.trend.az Distributed by MCT Information Services
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E.Ismayilov.AKU BILISI McARSClatchy RAILWAY - CONSTRUCTribune BusinessTION PROGRESSES News [Washington] ON SCHEDULE 18 Nov 2011. Nov.B 18--The Kconstruction of the Baku-Tbilisi-Kars railway is implemented in accordance with schedule, Azerbaijan Railways Spokesman Nadir Azmammadov told Trend.
Construction work is being performed throughout Georgia, he added.
Azmammadov noted that work in some sections in Georgia will be suspended due to bad weather conditions. "Suspension of work during the winter period is a normal process," he added.
Azerbaijani Transport Minister Ziya Mamedov said earlier that project participants will launch two pilot trains by the end of 2012. The route will be put into commission in full mode in the first half of 2013.
The Baku-Tbilisi-Kars railway is constructed in accordance with the Georgian- Azerbaijani-Turkish intergovernmental agreement.
Azerbaijan has allocated for the construction of the Georgian section of a loan of $775 million. The project is financed by the State Oil Fund in accordance with the presidential decree "On the implementation of the activities of the Baku-Tbilisi-Kars project", dated February 21, 2007. 50 In the framework of Baku-Tbilisi-Kars railway project it is planned to construct a new 105-kilometer branch railroad, 76 kilometers of which will stretch through Turkey and 29 km through Georgia. In addition, the Georgian section of the Akhalkalaki- Tbilisi-Marabda section in Georgia will be reconstructed, increasing its capacity to 15 million tons of cargo per year. It is planned to build in Akhalkalaki a place for transition of trains from track existing in Georgia to the European one.
Peak capacity of the corridor will be 17 million tons of cargo. At the initial stage, this figure will be at the level of one million passengers and 6.5 million tons of cargo.
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Anonymous.EORGIAN Trend OMMERZBANK Capital. EnglishDISCUSS S PECIFIC[Baku] BUSINESS17 Nov 2011.PROJECTS Georgian PM,PrimeC Minister Nika Gilauri met with the leadership of Commerzbank and representatives of financial institutions during his visit to Germany on Wednesday.
The sides discussed prospects of development and deepening of economic relations between the two countries and the specific business projects.
Gilauri took part in the Georgian-German business forum and spoke to the participants on Wednesday.
Although several German companies, such as Knauf, Caparol and ProCredit Bank operate in Germany, Gilauri expressed the hope that their list will grow.
"The example of Greece, Italy and other countries shows that the world is experiencing tough period," Gilauri said.Meanwhile. "However, the best period has come for investors in Georgia. The country's economy is stable and growing due to Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
reforms carried out in the country. Georgia is among the advanced countries on ease of doing business and the World Bank calls it the number one reformer during the last past five years"
According to Gilauri, Georgia has become a regional hub.
"The infrastructure, tourism, energy and banking sectors are developing very quickly. I can't say, of course, that everything is brilliant, there is still a lot to do. We need even greater development and progress, but I will say that there is no better place to do business than Georgia," Gilauri said.
Gilauri's report was of great interest of the German business circles.
"Germany is interested in economic potential of Georgia. Our second largest Commerzbank have recently opened an office in Tbilisi, which is another indication of our cooperation," Commerztbank Director Ted Fischer said. Copyright Trend News Agency Nov 17, 2011
M M , T - OLDOVA TheOLDOVA Kyiv Post,RANS DecNIESTER 01, 2011, TO TALK Associated AGAIN NEXT Press YEAR VILNIUS, LithuaniaD — The first talks in nearly six years between Moldova and the pro- Moscow separatist region of Trans-Dniester concluded in Lithuania Thursday with an agreement for more meetings at the beginning of next year.
Lithuania's Foreign Minister Audronis Azubalis said the negotiations "laid solid ground for future work on promoting conflict resolution." 51
Other officials declined to comment on the talks, which were primarily aimed at setting up a framework for future negotiations.
Trans-Dniester broke away from Moldova in 1990 and fought a war with Moldovan forces in 1992 that left 1,500 people dead. The region — mainly populated by Ukrainians and Russians — is not recognized internationally but has its own legal and administrative system. It has been led by Igor Smirnov for 20 years.
The two conflicting sides sat around the negotiation table for the first time in nearly six years during the two-day talks in Vilnius — mediated by Russia, the Ukraine, the European Union, the United States, and the Organizations for Security and Cooperation in Europe. Lithuania is presently the head of the OSCE's rotating chairmanship.
"The discussion of principles and procedures for the conduct of the negotiation is a stepping stone to achieving further tangible progress on the Trans-Dniester settlement," Azubalis said.
"Maintaining the positive momentum and continuing regular official meetings is essential now to advance the comprehensive resolution of the conflict — the goal that we all share," he added.
Participants agreed the next official meeting, dubbed "The Permanent Conference on Political Issues in the Framework of the Negotiating Process for Trans-Dniester Settlement," will take place in February 2012 in Ireland. Read more: http://www.kyivpost.com/news/russia/detail/118046/#ixzz1fUfjKAJC
Politických vězňů 1419/11, 113 42 Praha 1 KRAINE tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 U [email protected], www.ppzrs.org
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KyivOVERNMENT Post, Nov REVISES 21 | PR InterfaxOJECT OF- UkraineERMINAL CONSTRUCTION AT ORYSPIL AIRPORT The Cabinet of Ministers of Ukraine hasD approved a revisedB project of the construction of Terminal D at Boryspil International Airport, which foresees the increase in the cost of construction by 16%, to Hr 856 million and JPY 27.825 billion ($361.91 million), according to the press service of the Infrastructure Ministry.
The government made the decision at a meeting on Monday. According to the new project, the terminal area will grow by 20%, to 107,000 square meters, a VIP zone will be made in the terminal.
In addition, the updated document foresees the possibility of servicing both international and domestic flights. The terminal will have a parking lot for 233 cars.
At the same time, the ministry voiced the same term the construction is to be completed - December 2011. It is planned to perform the first flight from the new terminal on March 25, 2012. Read more: http://www.kyivpost.com/news/city/detail/117340/#ixzz1fUg2dnWg
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KyivADA Post,PLANNING Nov TO 16 REGU| IntLATEerfax INVESTMENT-Ukraine ACTIVITY IN HOUSING AND UTILITIES SECTOR The Verkhovna Rada is planning to introduce changes to some Ukrainian laws concerning the regulation of investment activity in the housing and utilities sector.
Some 262 MPs out of the 291 registered in the parliament's session hall voted for a 52 bill of amendments to some Ukrainian laws at first reading.
The bill proposes amending the law on drinking water and drinking water supply and the Ukrainian law on heat supply.
According to the law, it is proposed to add the articles to these laws that define what "an investment program" is like, and that introduce the concept of "current accounts with a special regime of use."
The draft law proposes specifying the powers of local government agencies in the field of investment activity and introducing current accounts with a special regime of use to make calculations concerning investment programs. Read more: http://www.kyivpost.com/news/business/bus_general/detail/117068/#ixzz1fUgHSmFJ
EnergyESTAS SELLSBusiness WIND Review, TURBINES 28 FOR November KRAINIAN 2011 POWER PROJECT V U Vestas has sold wind turbines for the Novorossiske project in the Kherson region in southern Ukraine, near the Black Sea.
As part of the order, Vestas delivered one V112-3MW for the wind power project.
The order includes supply, installation and commissioning of the V112, along with a VestasOnline Business SCADA system.
The turbine has been installed and is being commissioned, with start-up of full operations expected in December 2011.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
The customer, Vindkraft Ukraina, is determined to develop a project portfolio of wind power plants in Kherson to contribute to the overall growth of renewable and green energy production in Ukraine.
Vestas Central Europe president Hans Jorn Rieks said Ukraine has excellent wind resources for development, and Vestas is very satisfied to have found in Vindkraft an excellent customer to be part of the development of Ukraine's wind energy sector.
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KyivYIV TOPost, DEVELOP Nov LONG23 InterfaxTERM MUNICIPAL-Ukraine ENERGY PLAN ChairmanK of Kyiv City State Administration Oleksandr Popov has issued instructions to set up an ad hoc group to develop a long-term municipal energy plan, according to the administration's press service.
The group will work under a project on municipal heat supply reform in Ukraine, the press service told Interfax-Ukraine.
"Two more groups will be created under the instructions in order to reform the [Ukrainian] capital's heat supply system. One will take care of operating homeowner associations and the creation of new ones, and the other will handle an energy saving awareness campaign," the press service said.
Read more: http://www.kyivpost.com/news/city/detail/117491/#ixzz1fUgvoWDh
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KyivKRAINE Post, UNGARY Nov 29 PLANNING | Interfax TO -STEPUkraine UP ECONOMIC COOPERATION UODESA - UkrainH e and Hungary are planning to significantly strengthen economic 53 cooperation in agriculture, transport, energy saving and a number of other areas, Ukrainian Agricultural Policy and Food Minister Mykola Prysiazhniuk has said.
Speaking at a press conference after a Ukrainian-Hungarian business forum in Odesa on Tuesday, Prysiazhniuk said that the countries planned to increase bilateral trade to $4.5 billion.
In the first ten months of 2011, trade between Ukraine and Hungary grew by 35% compared to last year and will reach $3.2-3.5 billion at the end of the year, he added.
Prysiazhniuk said that Ukraine was interested in Hungary's experience in arranging the land market, in particular, the land cadastre.
Hungarian Minister for National Development Tamas Fellegi, in turn, said that the Hungarian and the Ukrainian sides had discussed cooperation in the transport sector at the forum.
In particular, the sides discussed setting up a channel to transport consumer goods from China through Russia, Ukraine and Hungary on the Danube River to Europe, the organization of border crossings between the two countries, the transportation of Ukrainian electricity to Europe, cooperation in agriculture - wine-growing and wine making, and cooperation in the financial sector.
"We are ready to finance a number of joint projects and invest about $1 billion in the Ukrainian economy... I would like to note that we will definitely expand cooperation in the traditional areas - transport and energy," Fellegi said.
ALKANSPolitických vězňů 1419/11, 113 42 Praha 1 tel.: 234 B379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
" " ALBANIA BBCLBANIAN Monitoring PREMIER European ANNOUNCES [London] BIGGEST 16 PRIVATE Nov 2011. PROJ ECT IN ENERGY SECTOR TextA of report in English by Albanian state news agency ATA [Report by Gjergji Mima: "Berisha: Devolli Cascade Project To Kick Off Next Year"]
Tirana, 16 November: Prime Minister Sali Berisha said Wednesday [16 November] during government meeting, "biggest private project of the last 20 years, Devolli Cascade project, where will be built three HPP-s [hydro-power stations], will kick-off next year".
Informing of his visit in Norway, Berisha underlined that main topic of discussion was cooperation between two countries in the field of energy and Norwegian support for Albania's efforts for a sustainable green development, due to Norway's great experience in this field. In this respect, the Premier pledged support for Norwegian companies that decide to invest in Albania.
Credit: ATA, Tirana, in English 1426 16 Nov 11
ATA, Tirana, in English 1426 16 Nov 11/BBC Monitoring/(c) BBC
S M KOSOVO IMFTATEMENT Press ReleaseBY No.ISSION 11/410 TO ,OSOVO November 11, 2011 IMF K 54 A mission of the International Monetary Fund (IMF), led by Mr. Johannes Wiegand, held discussions with the Kosovar authorities during November 2–11, 2011 as part of the first assessment of Kosovo’s Staff Monitored Program (SMP).1 The SMP runs until end- year, associated policies target decisive steps towards fiscal sustainability and stronger budget management and execution. Successful implementation would help establish a track-record of sound fiscal management that could pave the way for financial assistance by the IMF in 2012 and facilitate the continuation of donor support. The IMF mission worked in close cooperation with a parallel mission from the World Bank, carried out in the context of its envisaged budget support operation.
At the conclusion of the visit, Mr. Wiegand made the following statement:
“Macroeconomic and financial policies are broadly on track. The end-September quantitative benchmarks on the general government’s bank balance, primary balance, primary expenditures, the non-accumulation of external arrears, and on non- contracting non-concessional debt were all met, as was the structural benchmark on the development of a taxpayer compliance strategy. The quantitative benchmark on the non-accumulation of domestic payment arrears was missed by a small amount, however, reforms are underway to strengthen the government’s capacity to monitor overdue bills and prevent the accumulation of arrears. Expenditure cuts of €60 million have been implemented in response to the delay in privatizing the telecommunications company PTK, with a view to safeguarding a minimum of government bank balances by end-2011. Revisions are needed to the law regulating benefits for war related categories prior to its submission to the Assembly for the second reading, to ensure its consistency with medium-term fiscal sustainability and bring the law in line with the authorities’ corresponding commitments under the SMP’s Letter of Intent.
“Financial sector reforms are advancing. The government and the central bank have signed a memorandum of understanding regulating roles and responsibilities in providing emergency liquidity assistance to banks if needed, and the 2012 budget will contain a provision to deposit funds in a Central Bank account earmarked for
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
emergency liquidity assistance. Good progress has been made in revising the banking and microfinance law.
“Kosovo has remained largely unaffected by financial turbulence in the euro area, owing to limited integration into global financial markets. The economy is projected to grow by 5 percent in real terms this year. Inflation is moderating rapidly in line with developments in global commodities markets. The banking system has remained stable, with healthy liquidity and capital buffers. Going forward, a renewed downturn in the euro area could negatively affect remittances and foreign direct investment (FDI). As a result, the mission has marked down projected real GDP growth in 2012 to 4 percent.
”Staff and the authorities reached understandings on a budget for 2012 that targets a general government primary deficit of 3.2 percent of GDP and contains ¾ of a percent of GDP in structural adjustment, through a mix of wage restraint, reforms in the energy sector that reduce the need for budgetary support, and tax reforms. In case that no clear progress towards PTK privatization can be made in the early months of 2012, additional measures may be needed to warrant that the government has adequate cash buffers throughout the year.”
1 The SMP is an informal agreement with IMF staff to monitor the implementation of the authorities’ economic program. It does not entail endorsement by the IMF Executive Board and does not involve financial assistance by the IMF.
M E ] 05 2011. BOSNIA Text of DRAFT report NEW by REFORM Bosnian PLA CroatN FOR MostarOSNIA -based ONITORINGdaily Dnevni UROPEAN list, onONDON 24 November EC US, EU B BBC [L D 55 [Report by I. Maric: "Two Federal Units; Doing Away With Nationalist Parties"]
Mostar: Official Washington and Brussels have agreed on a long term plan for reform in Bosnia-Hercegovina, Dnevni List has learnt from diplomatic sources.
According to the plan, Bosnia-Hercegovina will have a completely new constitution, and the country's set up will include two federal units and two districts. Their boundaries will not necessarily correspond to the current entity borders.
This constructive plan should mark a complete departure from the two extreme ideas, one about the secession of the Serb Republic [RS], and the other about carving up a third entity. The plan advances a third idea which would see the gradual elimination of entity, territorial and any other divisions in Bosnia-Hercegovina and its restructuring in line with the "Brussels model" which implies an internal arrangement that will allow the fulfilment of all the legal and other criteria demanded from our country. The plan would help to remove the constant threat of secession by the RS, further ethno-territorialization through the formation of majority Croat structural units, and would curb the efforts of Bosniaks, above all the SDA [Party of Democratic Action] and the Islamic Community in Bosnia-Hercegovina, to create a unitary state based on the rule of the majority. The federalized state arranged in this way and without ethnic borders would bring about and guarantee a stable democracy, uniting the country politically, economically and symbolically. It would at the same time boost trust and confidence and prevent potential ethnic conflicts from flaring up.
Regionalization of the Country
Everyone agrees that as a result of the current complicated internal organization our country faces economic collapse, that it lags behind other countries in the region, and has failed to resolve the national question. In a federally arranged Bosnia- Hercegovina there would be a national assembly as the highest legislative authority representing the country's constituent nations. The Bosnia-Hercegovina government
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
would be drawn from it as the top executive and administrative authority. Municipalities would be given greater autonomy in decision making with regard to practical issues of importance to ordinary people. The plan also envisages the municipalities forming regional boards that would jointly deal with the governments of the two federal units and through them with the strong state level government. For instance, one such board representing let us say Western Hercegovina would safeguard the rights of Croats as a majority nation in the area, while in eastern Bosnia such a board would safeguard the rights of the local Bosniaks. The result would be an internal organization necessary for both the country's further stabilization and for implementing European (and American) principles. Under the plan, the boundaries of a large number of municipalities would be different from today's in order to safeguard all the rights guaranteed to the constituent nations at the municipal level as well.
Tackling Radicalism
It is no secret that the United States, as well as Great Britain and Germany as countries at the centre of the EU's foreign policy are keen to see extremist policies eradicated in Bosnia-Hercegovina. The easiest way of freeing Bosnia-Hercegovina's political scene from the factors that block reform processes is to arrest those responsible, but since many politicians are already involved in illegal activities up to their necks it would not be difficult to expose them as criminals. In any case, removing a politician or two from the political scene on account of their crimes would not provoke resistance in the public as does straightforward dismissal by an OHR [Office of the High Representative] decree.
This is why there was no objection to the formation of the current government in the Federation of Bosnia-Hercegovina [FBiH] in the spring of this year. This was a signal for the SDP [Social Democratic Party] to embark on the "task" to eradicate radicalism among Bosniaks and to cleanse the FBiH of the Wahhabi and similar movements which in the past enjoyed open support of senior SDA [Party of Democratic Action] officials 56 and the Islamic community in Bosnia-Hercegovina [IZBiH].
On the other hand, the task of Milorad Dodik, the boss of the SNSD [Alliance of Independent Social Democrats] is to do away with extremist movements and political ideas in the RS, primarily those harboured by the SDS [Serb Democratic Party] founded by war criminal Radovan Karadzic. Both the SDP and the SNSD have already embarked on executing their tasks by "immersing" the SDA and SDS under their own cloak. The third "extremists" idea, the Croatian one, was eliminated when the HDZ BiH [Croatian Democratic Union of Bosnia-Hercegovina] swallowed up the HDZ 1990 and when both parties were subsequently eliminated from government in the FBiH and thus stopped having any major influence on policies and their creation.
The ultimate goal is to completely marginalize and eradicate nationalist parties and instead boost the ideas of social democracy akin to Germany and Switzerland which implies reforming and refreshing the existing social democratic parties, the SDP and the SNSD, with new blood.
A media campaign is already in full swing especially after the international community signalled that "time has come to investigate the obvious collusion between politicians and the underworld."
The Bosniak media are publicly castigating SDA officials for links with the most extreme groups in Bosnia-Hercegovina, especially after the 30 minute long barrage at the US Embassy building in Sarajevo by Wahhabi adherent Mevlid Jasarevic. However, the media has also linked the SDA with organized criminal groups as well. Beside, this party is suspected of forging ever closer links with global Muslim organizations such as the Organization of Islamic Conference [OIC] with mediation efforts by Turkey which after the rise to power of the Justice and Development Party has increasingly aligned its foreign policy with Islamic countries with which it is developing ever stronger ties than with the EU which for years has kept it at bay precisely for this reason.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
Pining for Russia
Judging by US Embassy's secret cables leaked daily by WikiLeaks, international officials have already compiled a voluminous file which heavily compromises not just Milorad Dodik over his "business activities," but also his closest associates and friends. This will give the international community room to blackmail Dodik for a long time to come. Beside, the likelihood of the entity's [Serb Republic] economic collapse should not be ignored.
NATO as Guarantor of Security
The best solution for Bosnia-Hercegovina as a country of three constituent nations and many ethnic minorities is the federation model as the most efficient state system in the world even for single nation countries, the United States believes.
Federal state institutions would have clearly defined powers required for the state to function well and to secure Bosnia-Hercegovina's position in international relations. Bosnia-Hercegovina is above all being encouraged to join NATO as a guarantor of collective security.
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InterfaxAZPROM DISCUSSES: Russia POS& CISSIBLE Energy OUTH DailyTREAM [Moscow] BRANCH TO22 EPUBLIKANov 2011. RPSKA
MOSCOW. (Interfax) - Gazprom CEO Alexei Miller and President of Republika Srpska Milorad Dodik have discussed the possibility of building a South Stream pipeline branch to Republika Srpska, Gazprom said in a press release.
They also discussed the drafting of a contract for Russian gas deliveries to 57 Republika Srpska, which is a political entity of Bosnia and Herzegovina.
In order to diversify natural gas export routes, Gazprom plans to construct a gas pipeline - South Stream - through the waters of the Black Sea to countries in South and Central Europe.
Intergovernmental agreements have already been signed with Bulgaria, Serbia, Hungary, Greece, Slovenia, Croatia and Austria on the land section of the project.
The official launch ceremony of the underground gas storage facility Banatski Dvor - the first South Stream installation - was held in Serbia on November 21, two months after it was physically commissioned on October 1, Russia's Gazprom said in a press release.
At the ceremony, Miller said that "essentially, the commissioning of the Banatski Dvor gas storage facility is the launch of the first facility in the framework of the South Stream project."
Banatski Dvor is one of the major gas storage facilities in South-Eastern Europe. It actively stores 450 million cubic meters of gas, with a maximum daily send-out capacity of 5 million cu m per day. The storage facility also has the potential for future expansion. It provides additional security for Russian gas deliveries to Hungary, Serbia and Bosnia and Herzegovina.
During Miller's visit to Serbia for a meeting with Serb President Boris Tadic, the two discussed future prospects for implementing the South Stream project. "The new project will create around 2,200 jobs in Serbia and attract up to 1.5 billion euro of direct investment," the press release said.
Miller and Tadic also examined issues connected with determining conditions for Russian gas deliveries to Serbia on a long-term basis, developing oil refineries and
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
petrochemical capacity in Serbia and creating power capacity run on natural gas that could receive fuel from Gazprom under special conditions.
Following the meeting with Tadic, Miller and head of SerbiaGas Dusan Bajatovic signed a memorandum of intent to sign a long-term sales-purchase contract for natural gas with yearly deliveries of around 2 billion cubic meters (bcm) in the near future.
Tadic and Miller also visited the Pancevo refinery, which belongs to JSC NIS - Gazprom Neft, where the two were acquainted with the process of modernizing the enterprise and participated in opening the new operating hall of the single management system with production sites of the refinery. In 2010, Gazprom delivered 2.1 bcm of natural gas to Serbia.
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BBCRAN Monitoring TO INVEST EuropeanM EUROS IN[London] MODERNIZA 30TION Nov OF2011. OSNIAN RAILROAD NETWORK IText of report by Bosnian Croat Mostar-basedB daily Dnevni list, on 30 November [Unattributed report: "Iran To Invest 13 Million Euros in B-H Railroads"]
Iranian Ambassador to B-H Gholam Reza Yousefi has stated that the government of his country is willing to invest 13 million euros in modernization of railroads in B-H. He expects a speedy formation of the B-H Council of Ministers so that the project could be launched as early as next year. "The purpose is to develop the complete railway system both in the FB-H [Federation of Bosnia-Hercegovina] and the RS [Serb Republic]," Yousefi told the press. He recalled that a protocol on cooperation with an Iranian company to work on electrification of the railroad network in B-H had recently been signed. Dnevni list, Mostar, in Bosnian/Croatian/Serbian 30 Nov 11 p 8/BBC Monitoring/(c) BBC
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InterfaxERBIA OPEN : RussiaTO PROPOS & ALSCIS ONBusiness MORE GAS and PIPE FinancialLINE CONSTRUCTION Newswire PR [MoscowOJECTS ] DIPLOMAT26 Nov 2011. MOSCOW. Nov 26 (Interfax) - Serbia would be glad to join projects on gas pipeline construction through southern Europe analogous to South Stream, but Belgrade has not receive such proposals, Serbian Ambassador to Russia Jelica Kurjak said.
"I would like to repeat that energy security is above all for us, and we are open to any proposals for this," Kurjak said in an interview with Interfax when asked whether Serbia is considering participation in other projects analogous to South Stream.
"As far as I know, nobody has offered us anything apart from South Stream so far," she added.
Belgrade would like to see South Stream be put into operation as soon as possible, she said.
"We expect this project to be carried out, and we have received assurances that it will be implemented," Kurjak said, adding that "it is important for us to see this happen as soon as possible."
"We also know that negotiations are underway on building a gas pipeline through Turkey's economic zone in the Black Sea, that this has been delayed because of some environmental issues, that this pipeline could run along another route, and so on. Serbia is not involved in these negotiations. What counts most to us is that the project should be implemented through our territory. This would enable Serbia to
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
stand firmly on its feet as concerns energy and retain its energy security," the diplomat said.
The construction of South Stream will create new jobs in Serbia and should consolidate its strategic position in the region, she said. (Our editorial staff can be reached at [email protected]) (Copyright (c) 2011 by Interfax Information Services B.V.)
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BBCREMIER Monitoring SAYS ERBIA European READY [London]TO SUPPORT 17 REGIONAL Nov 2011. ENERGY NETWORK TextP of report in English by Turkish semi-official news agency Anatolia ["Serbia-energy -Serbian premier says Serbia can be a bridge in South Stream project" - AA headline] Istanbul: Serbia's prime minister said on Thursday [17 November] that his country could act like a bridge between countries that did not directly join the South Stream project.
Mirko Cvetkovic said Serbia, which was situated in the transition point of strategic energy and transportation routes, was ready to take part in other projects.
Energy strategies should be set as a first step, Cvetkovic said during the Third Black Sea Energy and Economic Forum in Istanbul.
Cvetkovic said Serbia was ready to do everything it could to support regional energy network, adding that Serbia was getting more and more important and becoming a transit country in European market thanks to the role it would assume in natural gas storing facilities.
59 South Stream is a proposed pipeline project routed from Russia to Bulgaria and further to Italy and Austria through Turkish waters in the Black Sea. Anatolia news agency, Ankara, in English 1116 17 Nov 11/BBC Monitoring/(c) BBC
S ' DÁRCI MinistryWEDEN S ASSESSMENTfor Foreign OF Affairs MULTILATERAL of the ORGANISATIO Sweden, PressNS release, 17 November 2011
Sweden's 2011 assessments of multilateral organisations will be published today. This year, four organisations have been assessed: The Global Alliance for Vaccines and Immunisation (GAVI), the International Fund for Agricultural Development (IFAD), the UN Office for the Coordination of Humanitarian Affairs (OCHA) and the United Nations Children's Fund (UNICEF). summary of all reports: http://www.sweden.gov.se/sb/d/574
The assessments are a key tool in strengthening Sweden's involvement in multilateral organisations. They are also part of the Government's efforts to more clearly show the results of our international development cooperation. Relevant organisations with growing effectiveness
All four organisations are considered to be very relevant to Sweden's development cooperation and humanitarian efforts. They have important mandates, clear roles among international organisations and are highly focused on contributing to the Millennium Development Goals. In general, the internal efficiency of all four organisations is considered high. Several of the organisations have introduced new reforms and reorganisations to achieve better efficiency, as well as improved results-based management systems. As regards the results and effects that have actually been achieved, all organisations are assessed fairly highly.
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
How the assessments are used
Together with other factors, such as political priorities, the assessments help guide Swedish grant decisions to the organisations. The assessments are used to make Sweden's work with the organisations more strategic and goal-oriented so that the organisations' work is strengthened and their activities are as effective as possible in helping lift countries and people out of poverty.
In 2008, assessments of 23 organisations were conducted. Since then, some five organisations are assessed annually.
OSTATNÍ MojRAN News ICKS Agency FF ONFERENCE [Tehran] ON23 NovNVESTMENT 2011. Al PPORTUNITIES Bawaba (Middle East) IIran'sK ministerO C of economic Iaffairs andO finance, minister of oil, and minister of Industries, Mines and Trade were among other lecturers of the opening ceremony.
Investors, foreign investment experts, and ambassadors of various countries including Turkey, Italy, Bahrain, Bangladesh, Austria, Belarus, China, Bosnia, India, Czech, Japan, Malaysia, Russia and Thailand have attended the conference aimed at introducing Iran's investment opportunities to foreign investors.
Based on Iran's 5 Development Plan (2011-2015), some 1,200 billion dollar of investment will be made in Iran of which 20 percent accounts for foreign investment.
Despite the sanctions imposed on the Islamic Republic, foreign investors are interested in making investment in Iran due to the country's privatization plan that supports foreign investment in the country. 60
This year, some $3.8 billion of foreign investment has been made in Iran's various sectors including industry, mining, water, electricity, gas, transportation, construction, agriculture and services.
Copyright ©-2011 Mojnews Agency. All rights reserved Provided by Syndigate.info an Albawaba.com company Copyright Al Bawaba (Middle East) Ltd. Nov 23, 2011
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MinistryWA JÖRLING for INForeign EW ORKAffairs THE of SHOULDSweden, BUY Press MORE release FROM ,WEDISH21 November COMPANIES 2011 B N Y UN On 21-22 November, Minister for Trade Ewa Björling is visiting New York, where she will hold meetings with the UN and representatives of Swedish companies to try to increase Sweden's share in UN procurements.
During her visit to New York, Dr Björling will meet representatives of the UN to discuss, among other things, procurement issues and how Swedish companies can work in partnership with the UN. Company representatives from the Swedish Association for UN Business (SWEUNB), a network that works to increase Swedish companies' business relations and partnerships with the UN, will take part in the meetings.
"Each year the UN buys goods and services worth the equivalent of nearly SEK 100 billion. Procurement from Swedish companies currently accounts for a modest 0.13 per cent of this amount. I am certain that we can increase Sweden's share," says Dr Björling.
"Swedish companies can and want to contribute a lot more to the UN's work for peace and poverty reduction, and they often have world-leading solutions to achieve
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
sustainable development," says Dr Björling.
Dr Björling will also meet the Swedish promotion organisations in the United States (the Consulate-General in New York, Invest Sweden, the Swedish Trade Council and Visit Sweden) and will have the opportunity to talk about the Government's export ambitions and investments in the creative industries at a meeting with Swedish entrepreneurs in New York.
Facts about UN procurement In 2010, the total procurement volume at the UN amounted to USD 14.5 billion (an increase of 5.4 per cent on the previous year), of which USD 7.469 billion was for services and USD 7.075 billion for goods.
Sweden's share in the 2010 procurement amounted to 0.13 per cent, the equivalent of USD 18.5 million, of which USD 11.8 million was for goods and USD 6.7 million for services.
Swedish companies sell most to UNICEF (USD 8.34 million), UNDP (USD 3 million) and UNOPS (USD 2.01 million).
The five UN bodies with the largest procurement volumes (2010): 1. UNPD (UN Procurement Division) - USD 3 144 million 2. UNDP (UN Development Programme) - USD 2 928 million 3. WFP (World Food Programme) - USD 2 717 million 4. UNICEF (UN Childrens Fund) - USD 1 823 million 5. UNOPS (UN Office for Project Services) - USD 1 015 million
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61 Shemer,SRAEL SIGNS Nadav. WATER Jerusalem AGREEMENTS Post WITH [Jerusalem] AIWAN 17ENYA Nov 2011: 17. I K Israel signed agreements with Taiwan and Kenya on the sidelines of the WATEC 2011 conference this week, which will see it increase water-technology cooperation with both countries.
The three-day international exhibition and conference on water, renewable energy and environmental control began Tuesday in Tel Aviv. This is the sixth year the exhibition has been been held.
Industry, Trade and Labor Ministry Director-General Sharon Kedmi and Taiwanese Vice Minister of Economy Jung-Chiou Hwang had signed two memoranda of understanding in the fields of water technologies and small and medium businesses on Wednesday.
The water agreement encompasses the fields of resource management, water purification, wastewater treatment, recycling and reuse, and irrigation. Cooperation exist through exchange of experts and scholars, exchange of technologies and data, and conduct of joint seminars.
Industry, Trade and Labor Minister Shalom Simhon and Kenyan Prime Minister Raila Odinga agreed Tuesday that Israel would assist the East African country in the areas of water-management technology, drip irrigation and wastewater treatment.
Israel had conquered the desert, he said, adding that climate change presented a wake-up call for Kenya in everything related to the way it manages its water.
Odinga also called for the two countries to expand bilateral trade.
WATEC also provided an opportunity for the expansion Israel's ties with Moldova. National Infrastructures Minister Uzi Landau and Moldovan Deputy Environment Minister Rodion Bajureanu discussed water and energy. Bajureanu said his country suffers from
Politických vězňů 1419/11, 113 42 Praha 1 tel.: 234 379 488, 225 279 403 fax: 225 279 100 GSM: 603 826 261 [email protected], www.ppzrs.org
water-shortage issues, but Israel has already found solutions through desalination and sewage treatment.(c) Copyright Jerusalem Post. All rights reserved.
(Copyright 2011 The Jerusalem Post)
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