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BUSINESS IN BRIEF 27/1
Sandisk brings world's highest capacity memory card to VN
SanDisk Corporation, a global leader in flash storage
solutions, has launched its latest innovations in
Sandisk launches innovative flash memory offerings such as the
world's highest capacity SD card for high performance video and photo capture
and world's fastest, high-capacity micro SD UHS-I memory card. - VNS Photo
The offerings include the world's higest 512GB memory card,
the SanDisk Extreme PRO SDXC UHS-I for video and photo capture, and the
world's fastest and high capacity microSD memory card, the 64GB SanDisk
Extreme PRO microSDXC UHS-I.
Dinh Quang Trong, SanDisk's country chief for
Vung Ang to become nation’s largest thermal power center
Minister of Industry and Trade Vu Huy Hoang and delegates had
a working with Formosa Ha Tinh Steel Corporation (FHS), Vung Ang 1 thermal
power plant at Vung Ang Economic Industrial Zone in the central
Up to now, Vung Ang 1 thermal power plant has completed around
98, 7 percent of the construction. It is expected to put into operation in
November, 2015, reported management board of Vung Ang – Quang Trach Petroleum
Power Project.
At the meeting, Minister of Industry and Trade Vu Huy Hoang
stressed that the Son Duong
Vung Ang is well-known as one of five key coastal economic
zones in energy, steel and oil refining.
In the near future, Vung Ang will become the largest thermal
power center in
VEC plans to increase charter capital
The Vietnam Expressway Corporation (VEC) plans to increase its
current charter capital 22-fold to more than 22.16 trillion VND (1.04 billion
USD) ahead of its equitisation.
According to VEC General Director Mai Anh Tuan, it will be
important to determine the corporation's charter capital ahead of its
equitisation and to call upon stakeholders, especially strategic
stakeholders.
The proposed charter capital is equivalent to combining the
State's direct investments in the corporation's five major projects, the
current charter capital and the remaining revenue from auctioning two
toll-fee stations.
The Ministry of Construction has asked the VEC to establish a
steering board for restructuring and equitisation and complete the
restructuring project within the first quarter of this year, saying the
equitisation of the corporation must be completed by the end of this year.
Minister of Transport Dinh La Thang has expressed his
determination to speed up the equitisation of corporations under the ministry
within this year and the VEC is just one among more than a dozen of the
ministry's corporations to be complete the process in 2015.
Last year, the ministry equitised 10 corporations in line with
an approved plan. The ministry also completed an initial public offering for
48 corporations.
January CPI slides over fuel cost reductions
Following recent plunges in fuel prices, the Consumer Price
Index (CPI) in January dropped by 0.2 percent against that of December 2014,
a record low over the last ten years.
The index, however, represented an annual gain of 0.94
percent, according to the General Statistics Office (GSO).
The steepest drop of 3.96 percent was seen in transportation
cost due to lower petroleum prices. This accounted for 0.35 percent of the
January fall in CPI, said Deputy Director of the GSO’s Price Statistics
Department Do Bich Ngoc.
Housing and building materials showed a 1.09 percent decrease
in prices, while post and telecommunications services costs slipped by 0.07
percent.
Other commodity groups in the price bracket saw rises ranging
from 0.13 – 0.53 percent with the lowest increase at 0.08 percent seen in
education services.
Ngoc said the fuel cost reductions also left its impact on the
costs of food, limiting their growth this month at a low 0.28 percent even
though food prices usually rise towards the Lunar New Year, the most
important festival in a year.
The GSO forecasted February CPI will be stable or even fall
slightly compared to the previous month.
As of January 20, the city attracted 363.8 million USD in
foreign direct investment (FDI), which was poured in 23 new and 8 underway
projects. The capital amount was 15 times higher than the same time last
year’s figure, said Thai Van Re, Director of the municipal Department of
Planning and Investment.
Domestic investment also saw positive signs, with over 14.3
trillion VND (672.1 million USD) invested in local enterprises, he noted.
During the month, 1,386 new firms was licensed with a total registered
capital of over 5.6 trillion VND (263.2 million USD) and 2,391 local
enterprises poured a combined additional 8.7 trillion VND (498.9 million USD)
into their business.
Le Hoang Quan, Chairman of the municipal People’s Committee
commented that the surge in January’s FDI showed that investors were
confident of the city’s investment environment.
In 2015,
At the same time, industrial growth in January was impressive
with a 9.2 percent rise year on year, said Re, adding that an approximate 10
percent increase were seen in all four major industrial sectors of
manufacturing and mechanics, electronics, chemicals-rubber-plastics, and food
processing.
In February, as part of efforts to prepare for the upcoming
Lunar New Year (Tet), the city will roll out a number of measures to ensure
goods supply and price stability during the holiday, which will last from
January 15-23.
Local enterprises have stocked 15.84 trillion VND (744.48
million USD) worth of goods, with the goal of keeping prices stable on the
occasion.
Director of the Finance Department Dao Thi Huong Lan said the
city will spend about 600 billion VND (28.2 million VND) to help
disadvantaged people celebrate a warm Tet holiday.
In order to maintain the stable growth, Chairman Quan asked all
departments and agencies to continue removing difficulties for businesses in
an effective and timely manner, while strengthening control over prices and
ensuring goods supply during Tet holiday.
Vietnamese Ambassador to the US Pham Quang Vinh called upon
American businesses to tighten links with Vietnamese counterparts to
contribute to growth in bilateral economic and trade relations.
During his meeting with representatives of the
He informed participants about recent achievements in
Vietnam-US relations, especially in economics as the value of trade between the
two nations hit 35 billion USD in 2014. He also highlighted Vietnamese
policies and developments promoting economic growth, especially its efforts
to renovate, restructure, and stabilise the national economy.
The two nations will work closely in 2015 in honour of the 20
th anniversary of their diplomatic ties, the diplomat said.
President of the US-ASEAN Business Council (US-ABC) Alexander
Feldman and Vice President of the US Commercial Chamber (USCC) Tami Oberman
stressed that the
They said a number of US companies intend to expand their
market to establish partnerships with Vietnamese firms and contribute to
fostering Vietnam-US relations.
Dorothy Dwoskin from the Microsoft Corporation said her
company is accelerating the restructuring of its investment activities in
Motorbike sales continue to fall
Despite the launch of new motorbike models and promotions, the
number of motorbikes sold continues to fall, the Dau Tu (Investment Review)
newspaper reports.
The Vietnam Registration Agency said more than 2.9 million
motorbikes were registered last year, while the figure was 3.272 million in
2013, 3.282 million in 2012 and 3.671 million in 2011.
Among the registered motorbikes last year, most of them were
for foreign directed investment enterprises (2.643 million) and were big
brand names like Honda, Yamaha, Piaggio, Suzuki and VMEP. Only 272,000
registered motorbikes were made by 10 domestic businesses.
The market has reached a saturation point, as sales have
plummeted.
Motorbike businesses incorrectly assumed that 2014 would be a
bright year for sales.
Wang Chinh Tung, General Director of VMEP Co, said the company
expected higher sales because the country's GDP had been forecast to rise in
2014.
Ono Masaru, General Director of Yamaha
The biggest player, Honda Vietnam, also launched many new
models with a series of promotions to stimulate demand.
However, contrary to their expectations, turnover continued to
fall, leading to lowered production.
Motorbike sales will continue to fall, experts have predicted.
Food Ingredients Vietnam expo to be held in HCM City
Some 150 companies from 20 countries will participate in the
second Food Ingredients Vietnam exhibition in
They will showcase many kinds of ingredients with the main aim
of supplying to Vietnamese companies.
According to the organiser, UBM Asia, the first exhibition
held last year was very successful.
While last year most of the ingredients on show related to flavours
and colours, this year there will be more health-related ingredients and
halal food, said the UBM.
"Four thousand visitors are expected to visit the
exhibition," it said, adding that this year will see the participations
of Chinese companies and others from the EU and ASEAN.
The organiser is hoping that with many of the companies now
knowing each other after last year, the second event will be more successful.
Apart from displaying products and cooperation opportunities,
the event will also feature exhibitions and seminars about the food sector.-
Phu Quoc, also known as the
Phu Quoc is the largest of the 27 islands that form the Phu
Quoc district of Kien Giang province.
Since February 2014, the Anh Duong Tourist Company in
The number of tourists, including Russian tourists, to Phu
Quoc rose sharply in 2014, said Phung Xuan Mai, General Director of the
Saigon-Phu Quoc Joint Stock Company, adding that the direct flight service
was offered weekly with more than 200 seats on each flight.
The
The island also posted an 84.28 percent hike in its tourism
revenue last year to over 2.2 trillion VND (104.76 million USD), according to
the People’s Committee of Phu Quoc district.
Vice Chairman of the committee Huynh Quang Hung attributed the
success to a number of prominent events held on the island in 2014, such as
the Khat vong tre (Youth Aspiration) art programme and the Miss Vietnam
beauty pageant, as well as the launching of new international direct flights
and major tourism facilities.
To make up for the decline in the number of Russian tourists,
the district authorities have made substantial efforts to promote the island
to international travel companies from Asian and European countries, Hung
said. In addition, local businesses in the hospitality industry also offer
various discounts on room and service prices.
Gregory Consyn, Manager of the Shells Resort and Spa in Phu
Quoc, said his facility has an array of special offers, such as discounts on
rooms, free spa services, and evening parties. The resort is now focusing on
attracting travellers from
At present,
Supervisory model on public investments prove effective in
Quang Nam
A community-based model for supervising public investment has
proved its effectiveness in reducing corruption and wastefulness,
subsequently reducing related complaints and petitions in central Quang
The outcomes were shared at a workshop on January 23 in Quang
The Quang Nam provincial inspection department has set up 102
community monitoring boards with over 2,000 members across six districts and
towns since 2011. Members of the board are volunteers from the local Vietnam
Fatherland Front chapters. They all underwent training courses to better deal
with real-life situations of public work construction projects.
The boards monitored 558 construction projects in their
localities in 2014 and detected 96 law violation cases that were promptly
reported to relevant agencies.
Participants at the workshop hailed the boards’ achievement in
enhancing transparency and strengthening democracy at grassroots level.
In 2015, the province plans to expand the model to 12 other
districts and towns.
The macadamia nut is thriving in Vietnam
More than 2,000 representatives of the macadamia nut industry
gathered at the nation’s first ever show showcasing it on January 24 at the
Long
Organizers of the event were all smiles to see the nation’s
delicious creamy nut take centre stage at the show and the better than
expected turnout for the event.
At the event, industry leaders, scientists, growers and
producers held dialogues aimed at defining future orientations for the
industry in
The country is set to produce 200,000 tons of nut and generate
trade value worth billions of US dollars by 2025 and beyond.
The macadamia nut is often called the ‘the Queen of Nuts’ due
to its great taste and outstanding nutritional value. The plant, indigenous
to
Signatories to the agreement were President of the Vietnam
Farmers' Association Nguyen Quoc Cuong and President of the German Farmers'
Union (DBV) Joachim Rukwied.
The signing ceremony was also attended by Vietnamese
Ambassador to Germany Nguyen Thi Hoang Anh and DBV representatives.
At the ceremony, Cuong spoke glowingly of the valuable
assistance provided to
Cuong noted the newly-signed agreement for the period
2015-2017 comes at a time when both nationsare celebrating the 40th
anniversary of bilateral diplomatic ties and enjoying fruitful relations in a
host of fields.
For his part, Joachim Rukwied said the Vietnamese and German
governments are staunch supporters of bilateral agricultural cooperation
adding that the agreement focuses on vocational training for both farmers and
agricultural experts.
Korean business invests in high-quality rice production in
A Korean business has decided to invest VND20 billion in the
development of a high-quality rice cultivation area in the southwestern
A memorandum of understanding (MoU) was signed on January 22
by Vietnam Moc Bai joint stock company under the
Accordingly, the fund will be used to build dykes, irrigation
system and procure machines and equipment.
Tay Ninh province will spend more than VND6.4 billion on
building a storage area and a bomb and mine clearance project.
DARD Vice Director Nguyen Thai Son said experts and
technicians will help farmers develop a modern rice cultivation model to
bring about highest efficiency.
In 2010 Taekwang Group invested in building a Nike sports
shoes factory in Moc Bai Economic Zone in Tay Ninh province with an annual
capacity of 10 million pairs of shoes and has employed 15,000 local workers.
It is also building a 100ha garment industrial zone and plans
to develop a hi-tech vegetable cultivation zone on 20ha in Phuoc Ninh commune,
Duong Minh Chau district.
Trade deficit hits US$522 million in first half of January
However, comparing with the second half of December 2014, the
trade balance registered a deficit of US$522 million, accounting for more
than 9% of total exports revenue.
Products saw decline in export growth including means of
transport, tools, seafood, crude oil, rice and petroleum. Meanwhile some
products enjoying high export growth were telephones and components,
computers, electronics and components and footwear.
Foreign direct investment (FDI) businesses fetched US$3.92
billion from exports, an increase of 3.8% against the same period last year
and accounting for 68% of total export revenue.
The
It has also set a target of $34.95 billion from exports, an
8-10 per cent increase over last year, Le Van Khoa, the director of the
department, told a review meeting yesterday.
Exports, excluding crude oil, were worth $27.89 billion last
year, a year-on-year increase of 12 per cent, with shipments of industrial
and processed goods increasing significantly from previous years, he said.
The city would strive to ensure balanced trade and prevent
indiscriminate imports, especially of luxury goods.
The city would take measures to ensure inflation is lower than
the national figure and to speed up restructure of the industrial sector so
that it can play a greater role in the global value chain, Khoa said.
Amending zoning plans so that industrial parks and processing
zones and industrial clusters specialise in certain industries, upgrading
traditional markets, ensuring supply and demand are matched and strengthening
market oversight are also on the cards for this year, he said.
It would undertake programmes to resolve difficulties faced by
companies and help them sell more in both domestic and foreign markets, he
said.
There would be focus on developing supporting industries to
increase local content in industrial products, he said.
Deputy Minister of Industry and Trade Do Thang Hai hailed the
efforts made by the city's industrial and retail sectors last year.
He urged the city to implement measures to help businesses
expand investment and trade and integrate more with the global economy.
He also suggested that it should improve the efficiency of its
programmes like price stabilisation and Vietnamese people prioritise using
made-in
Business outlook upbeat with less firms closing
The number of enterprises going out of business in January was
10 per cent lower than in the same period last year.
This decrease in closures indicates that HCM City-based
enterprises were prospering, according to figures released by the City's
Department of Planning and Investment at a meeting held on Friday, January
23.
Meanwhile, licences granted to newly-established local
enterprises, and for operational projects seeking capital expansion in
According to a report released by the HCM City People's
Committee, in January the city authority licensed 23 new foreign direct
investment (FDI) projects with total registered capital of nearly US$330
million, up 53.3 per cent in the number of projects and a 15-fold increase in
investments.
In addition, eight operational projects were licensed for
capital expansion of $34 million.
Further, the Chairman of HCM City People's Committee, Le Hoang
Quan, said total FDI flowing into
In the past few years, foreign investment in
"The city authority will create favourable conditions for
investors in
Additionally, the Director of HCM City Finance Department, Dao
Lan Huong, said revenues from tax payments for the city's budget reached
VND26 trillion, over US$1.2 billion, up 29 per cent compared with the same
period last year.
The rising budgetary revenues indicate the "good
health" of HCM City-based businesses, said Huong, as quoted by Sai Gon
Giai Phong (Liberated Sai Gon) newspaper.
Tet gifts hit markets across HCM City
Supermarkets, markets and shops in
Saigon Co.op, which runs Co.opmart supermarkets, is offering
hundreds of varieties of hampers at prices ranging from VND59,900 to VND1.7
million (nearly US$80).
For the first time it has launched a free gift delivery
services to receivers in any province and city where its stores are located
under its "Tet Viet gan ket moi nha" (Vietnamese Tet connects every
home) programme.
South Korean supermarket chain Lotte Mart has gift baskets at
prices ranging from VND99,000 to VND4 million ($187).
French supermarket Big C is offering gift baskets and boxes
priced at VND59,900-1.7 million.
Traders at traditional markets like Tan Dinh, Thi Nghe, and Ba
Chieu also have various kinds of Tet gifts. Nguyen Thu Van of Thi Nghe Market
expected sales to increase strongly from the middle of the lunar month which
falls on February 3. Tet is on the February 19.
All of them mainly contain confectionery, tea, coffee, water
melon seeds, wine, seasoning, and cooking oil.
Le Ngoc Dao, deputy director of the city Department of
Industry and Trade, said companies are ready to supply enough goods for the
nation's biggest holiday, and expected supply to increase by 10-30 per cent
over last year.
"There will be no shortage of goods or price surges
suddenly during Tet, while goods quality will be strictly controlled,"
she said.
Nguyen Thi Hanh, general director of Saigon Co.op, said Saigon
Co.op would increase supply of essential goods by two or three times from
normal months to ensure there is no shortage. It is also set to increase
supply of specialties from various parts of the country — like Thanh Oai
orange, Dien pomelo from Ha Noi, Phan Thiet dragon fruit wine, Ca Mau dried
shrimp, and plum wine.
Besides, it would offer discounts of up to 50 per cent on more
than 4,500 products and organise 140 sales trips to the city's remote
districts and industrial parks and export processing zones, Hanh said, adding
that it is co-operating with the Fatherland Front in districts to give away
more than 7,500 gifts to disadvantaged families for them to enjoy
Tet.According to Lotte Mart, prices in general are not much different compared
to last Tet.
New refinery included in oil sector's plans
Prime Minister Nguyen Tan Dung has decided to include the
Victory-Nhon Hoi petrochemical and oil refinery project in plans for the
country' petrol sector.
The US$22 billion project is listed among the projects
receiving priority from the Government, reported the news site vnexpress.
The US$21.5-billion Victory project, to be located in Binh
Dinh's Nhon Hoi Economic Zone, is to be funded by the Petroleum Authority of
Thailand (PTT) and its strategic partner, the Saudi Arabian oil company Saudi
Aramco.
The Government has given a nod in investment priorities to the
project, which were suggested by the province's leaders and the Ministry of
Finance.
In a meeting, held last week between local authorities and
leaders of ministries on sectors to discuss issues related to the project,
Chairman of Provincial People's Committee Ho Quoc Dung said he would work
with PTT's representatives to complete the investment licence, which is
scheduled to be issued in February this year.
Accordingly, the Nhon Hoi project will enjoy favourable
assistance in difficult regions, high-tech industrial zones and economic
zones. For instance, the enterprise income tax for the Nhon Hoi project will
rise to 10 per cent in 15 years. The project will also enjoy a tax-free
status for the first four years, while taxes for the next nine years will be
reduced by half.
Further, the project's investor proposes to extend the
enterprise's income tax of 10 per cent to 30 years, which will be considered
at the time of funding. Also, the project will be exempted from land leasing
taxes and the tax on imported crude oil, as well as on imports of machinery
and equipment which are not manufactured domestically.
When the refinery comes into operation in 2017, its products
will also be sold in
The project's first phase is estimated to be valued at $21.5
billion to produce some 400,000 barrels per day.
Viettel conference links telecoms
Nearly 500 leaders and best employees of military-run
telecommunications group, Viettel, attended and presented papers on over 20
topics related to the telecommunications industry at a conference here on
Thursday.
The telecommunications conference, titled "Viettel Global
Experience Sharing Conference", created an opportunity for Viettel's
employees from across the world to meet and share their experiences in
managing and conducting their telecom business.
Employees participating in the conference arrived from
The conference was divided into five workshops covering different
subjects: business, technology, infrastructure, and information technology,
as well as management.
This conference marks the first time that a multinational
group from
The group's total revenue in foreign countries last year rose
25 per cent, reaching US$1.2 billion, while its profit was $115 million,
posting a 25 per cent year-on-year increase.
Viettel has applied for a licence and auction approval to
invest in several African and East European countries. Investing in foreign
countries has been one of Viettel's three main priorities. It aims to become
a global company that ranks amongst the top 20 telecommunications groups in
the world. Company officials expect to receive 20-25 investment licences for
an overseas telecommunications network that will provide services to 500-600
million people by 2020.
The Ministry of Information and Communications has recently
approved the addition of digit "1" to the "096",
"097" and "098" prefixes in mobile phone numbers operated
by Viettel.
The move follows a ministerial decision on allocation of
telecom codes and numbers.
With the addition of one digit, Viettel will have more three
million 10-digit mobile phone numbers. With 11 mobile phone prefixes,
Viettel, with 87 million phone numbers, becomes the largest owner of mobile
phone numbers in the country, of which 27 million are 10-digit numbers and 60
million 11-digit ones.
On December 22, 2014, the ministry issued Circular No
22/2014/TT-BTTT about planning the country's telecommunication numbers. The
circular will take effect on March 1.
The ministry said that the plan is being implemented since
fixed phones were on the decline while mobile phones' market was expanding.
The fixed phones have seven digit long prefixes while mobile phones have two.
However, fixed phones account for about five per cent while mobile phones
make up for about 95 per cent of the total Vietnamese subscribers.
Therefore, the ministry has decided to provide eight prefixes
for mobile phones and only one for fixed line that can lead to a change in
area codes. All 11-digit phone numbers of mobile network operators will be
transformed into 10-digit ones. The change in area code will be implemented
within two years.
Central bank well set to keep forex rate under 2 pct: experts
Experts said the State Bank of
Some have been concerned that the continuing sharp fall in oil
prices, which is one of
However, the deputy director of the Central Institute for
Economic Management, Vo Tri Thanh said at a conference on Thursday that the
central bank will successfully keep the foreign exchange rate from
fluctuating to below 2 per cent, owing to supply and demand of the country's
foreign currency sources, as well as the central bank's competence in
successfully managing the forex market for the past few years.
Thanh added that Viet Nam's foreign currency reserves have
currently hit a record high of roughly US$35 to 38 billion, while balance of
payments this year are forecast to have reported a surplus of roughly $7 to 8
billion.
However, Thanh noted that it will be important to see how the
central bank adjusts the rate to stabilize the forex market, while avoiding
negatively affecting other indices.
The Bao Viet Securities Co. (BVSC) also forecast this week
that the forex market will remain stable in 2015 as well.
The securities company anticipates the exchange rate of the
dong against the dollar to vary between VND21,600 and VND21,800 till the end
of this year.
The forex market will still experience ‘rising waves.'
However, the central bank will successfully intervene to keep the exchange
rate fluctuation within the set target.
Trust in the central bank's successful policies formulated
over the last two years has also helped the central bank execute its policies
more effectively, BVSC said.
However, BVSC said the central bank could consider the
devaluation of the dong against the dollar and implement the devaluation with
a certain timeline, in a bid to boost the competitiveness of Vietnamese
exports.
Textile firm enjoys successful IPO
Minh Khai Textile successfully sold 1.6 million shares, or a
51.5 per cent stake, during its initial public offering (IPO) yesterday at
the average price of VND71,990 (US$3.4).
Remarkably, the starting price was only VND10,100 ($0.47).
The auction attracted 30 investors, whose registration volume
later climbed to 26.8 million shares. The buyers were three individual
investors, who paid VND118.7 billion ($5.57 million) for the shares.
Minh Khai Textile's charter capital after the IPO is VND32
billion ($1.5 million).
Tien Bo Group to list on HNX
Construction company Tien Bo Group will list 3.5 million
shares on the Ha Noi Stock Exchange from January 26. The shares, coded TTB,
will be traded from a starting price of VND15,000 ($0.7).
The group earned a profit of VND11.7 billion in 2014 and plans
to pay cash dividends at 7 per cent and buy shares at 7.5 per cent for the
year. It also expects to raise the charter capital to VND105 billion after listing.
Auction of five-year bonds raises $428.57 million
The State Treasury raised VND9 trillion (US$428.57 million)
through the auction of five-year bonds in January.
It mobilised VND6 trillion at a strong interest rate of 5.9
per cent during the January 22 bid, 0.11 percentage point lower than the
interest rate recorded during the January 15 session.
The agency said it plans to issue about VND70 trillion ($3.33
billion) worth of bonds in the first quarter of this year. Of this amount,
VND55 trillion is expected to be in five-year bonds, VND10 trillion in
10-year bonds and VND5 trillion will be denominated in 15-year bonds.
Vinamilk purchase of raw milk soars by 20 per cent
Viet Nam Dairy Products Joint-Stock Co purchased nearly 12
million kg of fresh milk from farmers in the first 19 days of the year, an
increase of 20 per cent over the same period last year.
At least 7.5 million kg were bought from
The highest growth of 71 per cent was from Binh Dinh and Lam
Dong provinces.
Vinamilk has purchased 60 per cent of raw fresh milk from
farmers nationwide. The number of farm households delivering high quality
milk will be paid more than VND14,000 per kg. The company said these
households accounted for more than 50 per cent. Vinamilk also committed not
to decrease milk purchasing and the price if the milk quality meets the
company's requirement. Vinamilk said it would help farmers increase the
quality of raw milk.
Vingroup gets go ahead for underground parking lot study
The
Vingroup plans to build the project on a build, operate and
own (BOO) basis with its own investment in six months.
However, if Vingroup is not selected as the investor, fails to
finish the study or submit a feasibility study, the group must pay all fees
of the study themselves, while the city will consider Vingroup to be out of
the project.
In November 2014, the State-owned construction company, Viet
Nam Urban and Industrial Zone Development Investment Corporation (IDICO),
withdrew from the project due over financial issues.
Under the study done by IDICO, the construction of the lot
will cost VND1.43 trillion (US$67.1 million). The five-storey, 70,211sq.m
parking area will contain 1,050 cars, 10 buses and 2,500 motorbikes.
New flash storage options
SanDisk Corporation, a global leader in flash storage
solutions, has launched its latest innovations in
The offerings include the world's higest 512GB memory card,
the SanDisk Extreme PRO SDXC UHS-I for video and photo capture, and the
world's fastest and high capacity microSD memory card, the 64GB SanDisk
Extreme PRO microSDXC UHS-I.
Dinh Quang Trong, SanDisk's country chief for
FPT project in Myanmar
This is the first ERP project that a Vietnamese firm has
carried out in
Within seven months, FPT IS will carry help create subsystems
for production management, product purchasing and sales, along with storage,
accounting and a smart reporting system. The implementation of the software
will enhance UPG's management capacity.
Maritime sector to focus on private funding
The Ministry of Transport will further encourage investment
from the private sector for infrastructure projects in the maritime industry
as the State will fund only national defence and security projects.
The Minister of Transportation Dinh La Thang made this
announcement on Wednesday at a meeting on directing the implementation of a
plan to mobilise private investment for maritime infrastructure projects
going forward.
Do Duc Tien, the deputy head of the Maritime Department, said
in January, that the department will soon list maritime infrastructure
projects that need investment from the private sector.
The list has 41 projects for the 2015 to 2020 period, with a
total investment of VND43 trillion (US$2 billion), including 10 projects for
developing shipping flows/routes, 19 projects for building seaports, three
projects for developing an electronic maritime system and nine projects for
constructing safe-anchorage sites for boats during storm season.
Many investors have committed to invest a total of VND7
trillion for some of these projects, he pointed out.
During 2015 to 2016, investors have so far registered to
invest in the development of three other projects, including a project for
building a flow for large ships to and from the Hau River, which will require
a total capital of VND2.7 trillion, a project for building a Tho Quang flow
for 10,000-DWT ships, with a total capital of VND126 billion and a project
for upgrading the Nghi Son flow for 50,000-DWT ships with a total capital of
VND300 billion.
Thang said private investors currently hold 75 to 80 per cent
of the total investment capital in the maritime sector, while the remaining
of 20 per cent comes from the State.
The Lach Huyen port will be the last infrastructure project in
the maritime sector to have state investment, he added as maritime
infrastructure projects from now on will involve private investment.
The State will only invest in maritime projects that do not
need investment from private investors and which are aimed at ensuring
national defence and security, Thang explained.
However, Thang said the managerial role of the State in all
these projects is not clear yet.
The state offices must analyse investors' reasons for
investing in the sector, the advantages and disadvantages of investment
activities in the sector. The state office will also provide solutions for
creating favourable conditions for investors to invest in the maritime sector
because the sector needs considerable investment capital for development.
Piaggio
Piaggio
announced to recall nearly 630 imported CKD scooters in the
Vietnamese market.
Recalled scooters include Piaggio Beverly 125, Vespa GTS 125
and Vespa LXV 125.
According to dantri newswire, from January 23, the company
started to check and replace scooters’ rotors for free in all nation-wide
customer service centres. It takes from 40 to 90 minutes for the
replacement.
Those 630 scooters were manufactured from May 13, 2009 to
August 31, 2010 and the reason for the recall was the problem in the
scooters’ rotors could make hard to start the engine or in a risk to
make the engine suddenly stop when the scooters are used for a long time
and continuously in the too hot temperature condition.
Despite the fact that there was not any reported case in the
Vietnamese market so far, Piaggio
PVI, PVcomBank agree on comprehensive co-operation
The PetroVietnam Insurance Corporation (PVI) and the Viet Nam
Public Bank (PVcomBank) signed a comprehensive co-operation agreement at the
bank's headquarters on January 21.
The two parties committed to providing and using each other's
services, including deposits, payment account management and capital
arrangement, along with financial consultancy and individual and corporate
finances.
They also agreed to exchange business information and explore
investment opportunities at home and abroad.
The two confirmed that this co-operation will help ensure
sustained growth for both sides, in line with the general development trend
seen in Vietnamese enterprises.
PVI is an affiliate of the Viet Nam Oil and Gas Group
(PetroVietnam) and among the leading industrial insurance companies in
PVcomBank holds VND9 trillion (US$428.57 million) in equity
and nearly VND100 trillion ($4.76 billion) in total assets. PetroVietnam owns
52 per cent and strategic shareholder Morgan Stanley holds 6.7 per cent of
the bank's equity.
Source :
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
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Thứ Hai, 26 tháng 1, 2015
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