|
BUSINESS
IN BRIEF 23/8
CPI
prolongs rise in major cities as food costs increase
The consumer price
index (CPI) in the country's two largest cities continued to rise in August,
according to the statistics departments of Ha Noi and
The Ha Noi
Statistics Department reported that the capital's CPI rose in August by 0.19
per cent over July, and increased 3.32 per cent over the same period last
year.
The department
added that the CPI increase in the capital city in August is equivalent to
the previous month, despite the decrease in staple items, such as housing,
building materials, electricity, tap water, fuel and transport costs.
The CPI increase in
Ha Noi is attributed to the rising costs in restaurants and food services,
which rose 0.38 per cent against the previous month.
Also, the surge of
food and foodstuff prices increased by 0.66 per cent against the previous
month due to the high demand of the public during the seventh lunar month of
this year and the upcoming Mid-Autum Festival.
Additionally, the
garment and textile, and footwear groups rose considerably, by 0.38 per cent
against July.
In
Five of the 11
baskets of goods saw an increase in prices this month. Among these,
restaurant and catering services rose by 0.32 per cent, beverage and
cigarette groups saw an increase of 0.05 per cent, garment and education rose
by 0.10 per cent and commodity and other services were up 0.17 per cent.
The department
added that four of the 11 baskets of goods that saw a decrease were fuel
(0.74 per cent), household appliances (0.15 per cent), transportation (0.02
per cent), and culture and entertainment (0.01 per cent), while drug and
telecoms remained unchanged.
In August, prices
in water and electricity in
David Duong wins a US$2.7 bil contract in the
California Waste
Solutions (CWS), parent to Vietnam Waste Solutions, of Vietnamese tycoon
David Duong was awarded a US$2.7 billion rubbish contract for the city of
After three
hearings, CWS clinched the deal against rival Waste Management – the
David Duong, CWS
President and General Director said CWS won the bid – the largest contract in
David Duong has
also invested heavily in the Da Phuoc Solid Waste Treatment Complex in
David Duong said
the project in Long An will apply the world’s latest technologies in
accordance with standards of the US Environmental Protection Agency and Vietnam’s
Law on Environmental Protection.
David Duong
emigrated from
David saw an
opportunity in the rubbish business and began a small recyclables company and
rapidly built it into one of the most successful companies in the industry.
New wave of
There is a new wave
of investment of
Last year,
In the first seven
months of the year,
VCCI has quoted the
Japan External Trade Organization (JETRO) survey as saying that 60% of
Japanese enterprises in
Especially, up to
70% of Japanese businesses continued to expand business in the country thanks
to high growth and revenue. Some surveyed businesses highlighted scale of
market, growth capability, political stability and low-cost labour force.
Loc emphasized that
Japanese businesses are estimated to have invested some US$10 billion in
At present, 14
Japanese banks are seeking investment opportunities in the field of
automobile, environment and waste water treatment.
Representatives
from 14 Japanese banks said that despite challenges, the trend of investment
in
Over 250
businesses join int’l pharmaceutical expo
The 14th Ho Chi
Minh City-International Hospital, Medical and Pharmaceutical Exhibition
kicked off on August 21, drawing over 250 businesses both at home and abroad.
The expo aims to
introduce new products and technologies, and connect trade activities between
domestic and foreign businesses, thus further developing the domestic market
with the focus on medicine, medical equipment, dental and ophthalmological
products.
Companies from the
Republic of
Participating
businesses are offered a chance to join fact-finding tours of prestigious
Vietnamese pharmaceutical manufacturing companies and hospitals.
Daniel Lee, chief
representative from the RoK’s Sky SoftGel Co., Ltd, said that joining the
event for several years has helped his company to meet more partners and
understand more about pharmaceutical production demands and consumer tastes
in
The event will end
on August 23.
EU-funded
project helps boost timber production
The Vietnam
Administration of Forestry (VNAF) in coordination with the World Wide Fund
for Nature (WWF) and People and Nature Reconciliation (PanNature) launched
“Common Access to the Voluntary Partnership Agreement (VPA) Process in
The project,
sponsored by the European Commission (EC) and The Swedish International
Development Cooperation Agency (SIDA), will be implemented in four years
(2014-2018) with the total investment of 2.6 million Euro of which, 80% come
from the EC aid and the remainder from the WWF’s counterpart funding.
The EU funded
project helps the government, small and medium-sized timber processing
enterprises (SMEs), civil social organisations (CSOs) and the communities
living near the forests in some provinces bordering with Laos better
understand and comply with the EU’s timber regulations.
VNAF Deputy
Director General Nguyen Ba Ngai said that within the framework of Forest Law
Enforcement, Governance and Trade Programme (EU FAO FLEGT Programme),
The launch of the
project will contribute to improve capacity of concerned parties in the
process of VPA negotiations between
Ibaraki Governor
Masaru Hashimoto affirmed
Hashimoto told
Deputy Minister of Science and Technology Tran Viet Thanh and Ambassador Doan
Xuan Hung at the reception that he is leading a business delegation of around
70 leaders from the agriculture and scientific community to
During the visit,
the Japanese delegation plans to conduct research and work with relevant
agencies to lay out a specific and detailed cooperation programme between
Hashimoto said he
hopes the Vietnam Ministry of Science and Technology (MoST) will cooperate in
scientific and technological research and development in all agricultural
fields.
For his part,
Deputy Minister Thanh welcomed
Human resources
awards launched in
The Ministry of
Labour, Invalids and Social Affairs (MoLISA) on August 20 launched a human
resource awards competition at a ceremony in
Speaking at the
event, Deputy Minister of Labour and Social Affairs Nguyen Trong Dam said
that this year’s awards focus on assessing the business strategy for
developing human resources.
The competition is
open to all businesses that have been registered to do business in
All entries must be
received by September 19 and the 15 top businesses will be announced in early
December.
Poor lack financial services access
Micro-financing
provides small loans that enable poor households with little or no access to
formal financial institutions to take part in production or start up their
small businesses. It includes several services such as credit, savings and
insurance.
At a conference on
micro-finance held here last Tuesday, Nguyen Phuoc Thanh, Deputy Governor of
the State Bank of Viet Nam (SBV), identified
"The country
has been on the road to informalisation and professionalisation," Thanh
said at the conference entitled "Towards a sustainable and responsible
micro-finance sector in
"However,
women and the poor have less access to financial services, especially in
rural areas, and only 8 per cent of adults have savings in formal financial
institutions," he added.
Thanh said
A study of the TYM
Fund, the country's first licensed micro-finance company, showed that
micro-finance has helped to raise the living standards of millions of
households by helping poor and low-income earners gain access to financial
services.
According to the
study, more than 90 per cent of poor households were able to earn larger
incomes and generate enough capital for production and businesses after using
micro-finance services. This shows that the sector has actively contributed
to the country's socio-economic development.
Duong Thi Ngoc
Linh, TYM Fund General Director, said his company's products, including loans
for businesses, construction and repair, have proven to be tailor-fit to the
needs of the poor.
TYM Fund has
provided loans to people without requiring any collateral. Last year, it lent
around VND1.08 trillion (US$51.7 million), with a total debt balance of
VND582 billion. As of May, it has offered loans to 97,200 people, with a debt
balance of VND640 billion ($30.48 million).
Margaret Miller, a
World Bank senior economist, said the demand for financial services in
developing countries was high, as 70 per cent of adults in these countries
had little or no access to services such as savings, credit, payment and
insurance. The percentage was even higher among women and the poor, and in
rural areas.
The model of
development will bring both opportunities and challenges to financial
institutions that serve low-income earners, Miller said.
Dong Nai
supports riot-hit businesses
Authorities in the
southern
"It is
difficult to compensate the mental fear, the loss of time, even the business
opportunities, suffered by enterprises," Phan Thi My Thanh, deputy
chairwoman of the province People's Committee, told the meeting.
"But we hope
that investors realise the goodwill and active support of the local
government."
The riots caused a
loss of over VND376 billion (US$17.8 million) to 205 companies in the
province. Of them, 82 suffered small losses and resumed work on their own,
while 123 others received support from the authorities.
Fifty of them got
tax refunds of over VND322 billion ($15 million) and other tax breaks.
The province also
waived or reduced land rentals to the extent of VND12.75 billion ($601,000)
for 19 businesses each of which suffered property losses of over VND1 billion
($50,000).
The province
customs department helped 34 affected companies with customs procedures and
condoned their loss of digital signatures, tax declaration documents, and
delay in completing customs procedures.
Infrastructure
companies have deferred tariffs, in many cases for up to six months.
"Several
enterprises were also allowed by banks to delay payment of interest on
loans," Thanh said.
The province has asked
workers to share their employers' difficulties by not asking for wages for
the days the company was closed or agreeing to accept only half wages.
Hung Chih Hsing,
deputy general director of Formosa Taffate Dong Nai Company, which suffered
the biggest loss — of VND103 billion ($4.8 million)— urged the local
authorities to persuade insurance companies to settle their claims.
"An insurance
settlement advance of VND37.6 billion was paid to 34 damaged enterprises and
we have recently asked the insurance companies to speed things up,"
Thanh said.
"We also
continue to ask the Ministry of Finance to direct the insurance companies to
quickly make the settlements for the enterprises to resume production."
Workers at only
three companies were not paid wages – many of the firms insisted on paying
even when their employees agreed to forego salaries — and the province will
compensate those that paid to the extent of VND42 billion ($1.9 million).
Infrastructure
projects target Ly Son Island
The central
province has listed 16 priority projects for Ly Son Island district's
socio-economic development with total investment capital of VND2.3 trillion
(US$110 million).
The projects will
take advantage of the island's first stable power supply, with a 35km power
line scheduled to be completed at the end of this year, said vice chairwoman
of the island district's people's committee Pham Thi Huong.
The line will
provide electricity for the 21,000 residents of An Vinh and An Hai, the major
communes on the island, and islet An Binh. Currently the island has to pay an
average of VND10 billion ($476,000) annually to cover the costs of diesel
generators.
The list of
investment projects also includes a dyke, fishing port, Hoang Sa-Truong Sa
museum and tourism services.
Located 30km off
the coast of the central province, the island is a tranquil destination where
inhabitants make a living from farming garlic and spring onions and fishing.
Steelmaking
group worried about effect of Russian imports
The Viet Nam Steel
Association is proposing reasonable import tax rates for iron and steel
products amid concerns over the effects of a possible mass inflow of imported
steel from
The concern was
aired during free trade agreement (FTA) negotiations with the Customs Union
of Belarus,
The setting up of
import rates for
The newspaper
quoted association officials as saying that the competition in the sector
would grow harsher since
It cited figures
showing that
The country's steel
industry will be facing possible shutdown if imported steel from
The association
proposed that import tax rates for steel under the FTA negotiations adhere to
The sixth round of
FTA negotiations with the Customs Union closed on Wednesday in
The
The meeting between
the authorities and overseas-based Vietnamese enterprises was organised by
the HCM City Investment and Trade Promotion Centre and the HCM City Committee
of Overseas Vietnamese to solve the difficulties in investment and trading
faced by these firms.
About 80 Vietnamese
enterprises involved in import, export, production and services in 11
countries and territories such as
The city customs
and taxation departments provided information about customs and taxation
procedures for import and export activities in the city, the Vietnam News
Agency reported.
Meanwhile, the
overseas-based Vietnamese enterprises paid attention to the details presented
about the various kinds of taxes and preferential interest rates for loans,
including individual income tax, corporate income tax, value added tax for
imports, tax for high-tech projects and loans with soft interest rates.
Pham Duc Hoa, an
expert from the Taxation Department, said eligible enterprises could get
loans at zero interest rate for some products such as office stationery and
food for consumption in the enterprises.
Nguyen Chi Dung, a
representative from the Nguyen Chi Technology Company and Phan Van Tuc, a
Vietnamese based in
The country posted
a small trade surplus of US$17 million in the first half of August after
reporting a trade deficit the previous month, the General Department of
Customs said.
The country's
export value in the period reached $6.193 billion, while the import value was
$6.176 billion.
The positive
results have lifted the trade surplus earned so far this year to $1.81
billion. The export value in the period between January and the first-half of
August reached $90.079 billion, while the import value was $88.268 billion.
The small trade
surplus was achieved thanks to the high export value of foreign firms which
reported a trade surplus of $313 million in the first half of August, and of
$5.93 billion in the period between January and the first-half of August.
The textile and
garment sector beat mobile phones to become the top earning sector with $1.07
billion.
Textiles and
garments also became the unique products to earn more than $1 billion in the
period.
The export value of
mobile phones was $811 million, followed by computers and electronic products
and footwear with $460.8 million and $453.5 million respectively.
During the period,
the country spent the maximum amount of $1.03 billion on importing machines
and equipment.
The country also
spent $699.6 million on importing computers and electronic products; $375.6
million on cloth, $355.7 million on steel products and $323.6 million on oil
and petroleum products.
The minister made
the suggestion to Minister of Industry and Trade Vu Huy Hoang during talks in
Ha Noi on Wednesday.
Both sides agreed
to establish a subcommittee on trade and speed up the realisation of a
memorandum of understanding on oil and gas.
These activities
will make it easier for the Vietnam National Oil and Gas Group and the
Vietnam National Petroleum Group to work closely with their Sri Lankan
partners.
South
Korean investors eye thermal power plant
The Korea Electric
Power Corporation (KEPCO) has shown interest in investing in the Song Hau 3
thermal power plant, a major project in the Mekong Delta
At a working
session with KEPCO representatives on Tuesday, chairman of the provincial
People's Committee, Tran Cong Chanh, pledged to provide the best possible
conditions for the investors.
The two-turbine,
coal-fuelled plant, will have a capacity of 1,200 MW. It will cover 57ha in
the Phu Huu ‘A' concentrated industrial complex in Chau Thanh District.
Several major
thermal power plants are under construction in Hau Giang province, including
the 1,200 MW Song Hau 1 and the 2,000 MW Song Hau 2.
The three projects
are part of the Song Hau Power Centre spreading over 360ha in Chau Thanh
district.
Southern
province sets aside land for cacao, cashews
Trong Duc Cocoa Co
Ltd in southern
Company director
Dang Truong Khanh said his firm would sign agreements with agricultural
cooperatives in the districts of Dinh Quan, Tan Phu, Thong Nhat and Xuan Loc
to provide farmers with equipment and technology for processing cacao and
cashew fruits.
The company will
purchase the partly processed fruit at a higher price than the market price.
Buy-to-let
offers easy cash returns
Apart from popular
rental areas in central
My Dinh, in western
This area also has
several high-rise office buildings servicing international companies. It is
now steadily maturing as a viable lifestyle choice location with several
international schools, restaurants and shopping centres.
Among more than 380
units of Indochina Plaza Hanoi which have been sold, around 160 are currently
occupied by foreigners.
With rental prices
of $1,700 to $2,500 per month, these apartments are expected provide up to
VND450 million ($21,400) per year in earnings for owners.
Meanwhile,
According to Nguyen
Bich Son, business development director of the PMC, buy-to-let apartments are
becoming more popular as homebuyers seek profits from leasing.
Apartments with
high construction quality, good facilities and a pleasant environment are
keenly sought by foreigners. Other factors include good quality schools and
ease of access to work places.
Son said there were
similar opportunities in the southern suburb of Ha Dong. Apartments at the
Hyundai Hillstates development, a Korean-backed residential project, are
being leased at VND14 to 16 million ($666 to $760) per month.
Out of around 300
apartments already in use, more than 100 were leased to foreigners, mostly
Koreans who were working in Ha Dong and neighbouring areas.
In order to attract
more buyers, developers of newly built buildings in
The investor of
The project’s
investor claims the profit ratio of leased apartments in
For many years,
demand for apartments and house leases have been focused in
Dubious
Canadian firm eyes $8bn oil refinery project
Malaric Vietnam
Trade Investment JSC, representative of Canada’s Malaric Group, has asked the
Ministry of Industry and Trade (MoIT)’s permission to join the Nam Van Phong
refinery project, in which Vietnam National Petroleum Group (Petrolimex) is
the main investor.
However, Nguyen Van
Khanh, head of Petrolimex’s refinery department said “Petrolimex has not yet
had any contact with Malaric, and has not signed any agreements regarding
co-operation.”
Malaric is a
largely unknown firm, with a Google search yielding no results.
In an earlier move,
“Petrolimex and
Dealim have since discussed sourcing potential investors, particularly
financial investors, to co-operate with them on the project,” Khanh said.
The $8 billion Nam
Van Phong refinery project in the central
The MoIT has asked
a number of countries, most recently the UAE, to encourage firms to invest in
the refinery project, but to date no foreign investor other than Daelim has
approached Petrolimex to discuss co-operation.
Petrolimex and its
partners hope the Vietnamese government will issue preferential policies to
investors in the refinery, similar to those provided to the Dung Quat, Nghi
Son and Vung Ro refinery projects.
Construction
firm to expand holding in state-owned transportation consultant
FECON Foundation
Engineering and Underground Construction JSC (HOSE:FCN) is looking to
increase its share position in consulting firm Transport Engineering Design
Inc. (TEDI).
Accordingly, FCN
plans to buy 2.6 million shares of TEDI at no higher than VND21,900
($1.04)/share to raise its current 5 per cent holding to 25.76 per cent.
The move is aimed
at facilitating co-operation between the two firms, particularly in research
and development, an FCN representative explained.
FCN originally
bought 5 per cent of TEDI to join as the firm’s sole domestic strategic
partner. TEDI sold the entire 20.8 per cent stake it put up in its March IPO
and the state currently maintains a 49 per cent stake.
Transport
Engineering Design Inc. (TEDI), established in 1962, is a national leader in
designing transport infrastructure and providing consultancy services.
In early August
TEDI proposed the Ministry of Transport sell the state’s 49 per cent stake to
the firm’s employees. The sale will help TEDI become eligible to bid on ODA
projects and those offered by the transport ministry.
Leading
electronics retailer adjusts focus to small provinces
Tran Anh Digital
World Joint Stock Company (HNX:TAG) seems to be switching its focus to
smaller provinces, after a recent announcement that it will close one of its
ten Hanoi stores on August 31.
At the same time,
the computer and electronics retailer has been preparing to open its first
store in the
“The closing of the
As a result of the
closure, TAG will have 10 stores open in the north – nine in
TAG joined the top
500 retailers in Asia Pacific this year, according to Retail Asia Publishing
Pte and Euromonitor (
Southern Rubber
Industry Joint Stock Company (HOSE:CSM) has sold its entire 40 per cent stake
in subsidiary Tan Thuan Viet Real Estate Joint Stock Company for VND46
billion ($2.18 million).
The divestment is
part of the firm’s plan to withdraw from all non-core lines of business to
focus on its main line of producing tyres.
CSM in April
started operating its VND1.5 trillion ($72 million) first phase of its radial
tyre plant with the capacity of 350,000 tyres per year in phase one. The
products are planned to hit the market in the third quarter of this year.
CSM hopes the plant
will help tap
CSM, also known by
its Vietnamese name Casumina, is the leading Vietnamese tyre producer with 25
per cent of the car tyre market and 35 per cent of the motorbike tyre market.
The firm’s products are exported to 36 countries and territories around the
world.
CSM reported
profits of VND169.3 billion ($8 million) in the first half of 2014, up 0.4
per cent on-year, and revenues of VND1.47 trillion ($70 million), down 4.5
per cent on-year.
Three
foreign funds register to sell Vinamilk shares, F&N on the hunt
Three foreign funds
have registered to sell part of their stakes of Vinamilk Corp (HOSE:VNM).
Specifically,
Vietnam Enterprise Investments Limited has registered to offload 5.4 million
shares, Amersham Industries Limited 4.8 million shares, and Norges Bank 1.2
million shares, between August 14 and September 12, via put-through transactions.
If successful, the
three funds would reduce their respective holdings to 1.05 per cent, 0.87 per
cent and 0.4 per cent.
Meanwhile,
Singapore-based dairy maker F&N Dairy Investments Pte Ltd has registered
to buy 15 million shares of VNM,
VNM’s consolidated
net profit fell by 12 per cent on-year to VND2.97 trillion ($140 million) in
the first half of 2014, while its revenue rose 15 per cent on-year to VND16.9
trillion ($801 million). The company has said the loss is due to sales and
promotions expenses to maintain its market share.
Chinese
firm loses brand case
An industrial
property right dispute between a Chinese firm and a local partner has ended
after a court ruling backed the domestic business.
The Hanoi People’s
Court (HPC) recent first instance session heard a dispute on industrial
property right transfer between Vietnamese enterprise - Thanh Long Lighting
Co., Ltd (TLL) - as defendant, and plaintiff, Chinese firm NVC Lighting
Technology Corporation (NVC).
The two companies
originally signed a contract in April 2006 in which TLL would act as the
exclusive agent for the Chinese firm to distribute NVC lighting products in
the Vietnamese market. As part of the agreement, NVC told TLL to go and
register their industrial property rights at the National Office of
Intellectual Property Right Protection (NOIP). The same month TLL registered
the NVC brand in the Vietnamese market.
TLL received an
industrial property right registration certificate for the NVC brand from the
National Office of Intellectual Property of Vietnam (NOIP) in November 2008.
In March 2012, TLL
and NVC signed a contract on industrial property right transfer of NVC brand.
The contract which came into force from April that year regulates that from
that date all the rights, the certificates and associated benefits will be
transferred to the Chinese partner NVC.
However, the
Chinese company claimed that the local partner TLL had not executed this part
of the deal to return them the original certificate which meant NVC was
unable to continue to register their industrial property right at the NOIP
themselves.
The NVC proposed
that the Hanoi People’s Court force TLL to complete its obligations and
restore the NVC brand registration certificate to the Chinese.
TLL director Nguyen
Chi Thanh, however, claimed that he did not know about the contract until he
received a court notification.
“I only got to know
about this so-called contract when working with the Hanoi People’s Court and
was greatly concerned that Clause 1 in the contract stated a zero transfer
price on the fixed brand,” said Thanh.
He said part of the
contract was just a draft without seal.
Article 148 in the
Law on Intellectual Property regulates that industrial property rights were
only established upon registration at an agency able to issue such
recognition. Any contract would be based on this agency’s recognition.
In this case, NVC
had yet to register with a Vietnamese agency for the transfer of their own
industrial property, so it could not be determined that the contract had
taken effect.
In its reply to the
Hanoi People’s Committee dispatch to the NOIP asking whether the contract on
industrial property right transfer between TLL and NVC had been registered,
the NOIP confirmed such a contract had not been recorded on the registration
list at the office.
This means pursuant
to Item 1, Clause 148 in the Law on Intellectual Property the contract on
industrial property right transfer between TLL and NVC had yet to come into
force.
The alleged
transfer contract was then announced invalid in the
In dealing with
repercussions of an invalid contract, Article 137 of the Civil Code states
“when a civil transaction is invalid, the parties shall be restored to the
original status and shall return to each other what they have received.”
In this case, since
the transfer price was set zero, and the related parties still do not handle
their obligations (as the contract still does not take effect under current
regulations), there will be nothing exchanged between the involved parties.
Shop owners
rush to clear stocks before
Shop owners in
southern
Many are offering
up to 50 percent discounts or more from now to the end of next month to
unload all their stocks as fast as they can in order to meet the removal
deadline.
All shop owners
have been told to move out of the 130-year-old trade center by the end of
September to make way for the construction of a 40-story building.
At the request of
the Ho Chi Minh City People's Committee, 500 square meters out of a total of
15,000 square meters of the center’s gross floor area will be set aside for
the construction of a part of a metro line station.
The committee has
required the area to be handed over to the Ho Chi Minh City Urban Railway
Management Board for building the ventilation structures of the metro
station, one of 14 stations of the Ben Thanh-Suoi Tien metro line, by
October.
The planned subway,
19.7km long, is the first-ever to be constructed in Vietnam that will run
from District 1 through Binh Thanh District, District 2, District 9 and Thu
Duc District in Ho Chi Minh City before reaching Di An Town in neighboring
Binh Duong Province. It is estimated to cost US$2.49 billion.
The remaining area
of
The center’s
management board and shop owners previously agreed that the owners would be
informed of its demolition at least six months before any leveling work.
But the board could
only notify shop owners of their required relocation on August 12 because of
a late notification from higher authorities.
To make up for this
lateness to some extent, the management board has decided to exempt shop
owners from two months’ rental fees.
Moreover, they are
entitled to an option to move to other Satra shopping centers at
The board has also
proposed that Satra give those adversely affected by the sudden displacement
the rights to have a place in the new shopping center inside the planned
skyscraper.
It will allow shop
owners to sell their goods at 50 percent discounts at the center lobby on the
ground floor for better visibility from September 1 to 30, whereas the owners
normally can offer such discounts at their stores only.
Construction work
will begin on the multi-million-dollar 40-story building in the first quarter
of next year, according to a Satra plan.
The skyscraper will
be named
Built in 1880, the
building, originally named Les Grands Magazins Charner, bears the
characteristics of French colonial architecture like those found on such
constructions as Ben Thanh Market, Notre Dame Cathedral, Saigon Central Post
Office, Saigon Opera House,
According to
Satra’s website, Les Grands Magazins Charner sold luxury items imported
mainly from
In the 1950s,
world-renowned brand Hermès even made its debut in
|
Thứ Sáu, 22 tháng 8, 2014
Đăng ký:
Đăng Nhận xét (Atom)
Không có nhận xét nào:
Đăng nhận xét