HCM CITY (VNS) — The demand for Vietnamese language versions of foreign titles is growing rapidly among young readers.

However, cumbersome procedures in the publication sector have raised prices of such books, making it difficult for the youth, especially students, to buy them. For instance, there is considerable interest in Tai Chinh Quoc Te, the Vietnamese language version of Jeff Madura's International Financial Management which has been advertised widely in colleges and universities around HCM City.

"The book is necessary for us students. It contains interesting facts about international finance and the global financial crisis.

"But it's very expensive at VND460,000 (US$22), " said Nguyen Truc Giang, a third-year-student of HCM City's Economics College.

International Financial Management was translated into Vietnamese by a group of teachers of the economics and law universities in HCM City.

The translation was sent to Singapore for printing and the Vietnamese edition imported into Viet Nam for distribution.

The book is distributed by Fahasa, the city's Book Distribution Company at its bookstores around the country.

Tai Chinh Quoc Te is just one of many Vietnamese editions of foreign books that readers have to buy at high prices.

"Export and import fees have raised the prices of Vietnamese language versions," said Le Van Tron, president of HCM City's Printing Association.

He said printing technologies in Viet Nam were not inferior to other countries in the region, but "cumbersome regulations in printing publications have limited the chance of co-operation between domestic and foreign companies".

According to Minh Phuong, an official of the city's Information and Telecommunications Department, only three domestic printing companies in HCM City have applied for licences to print foreign publications this year.

"Publishers can buy copyrights of foreign books, translate them into Vietnamese and print the books in Viet Nam. Even then, the book will be expensive because of copyright fees," said Pham Minh Thuan, Fahasa director.

"Prices can be lowered if foreign companies sign contracts with a domestic business to print the Vietnamese version of a book in Viet Nam and is authorised to sell it in the local market," Thuan said.

The Publication Law, which is now being amended, stipulates that 100 per cent of publications that a domestic business prints under contracts signed with a foreign company must be exported.

However, stiff regulations have hindered foreign companies from signing contracts with domestic companies to print publications in Viet Nam, according to representatives of publication agencies at a recent meeting in HCM City. — VNS