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BUSINESS IN BRIEF 13/2   2010-02-13 - VietNamNet/VNA, VOV

Malaysia to boost service exports to Vietnam


Malaysia will increase its export of services to Vietnam, as well as other regional and European countries, this year, said the Malaysia External Trade Development Corporation (Matrade).


Matrade Deputy Chief Executive Officer for Trade and Promotion Wong Lai Sum said that the corporation organised a seminar on trade promotion and opportunities in Vietnam last November to introduce the latter’s investment opportunities to Malaysian companies.


In addition, Matrade organised similar seminars to help Malaysian companies explore business opportunities in Cambodia , Indonesia , India , China and several European countries, she added.


Half of this year’s investment projects belong to the service sector are expected to make up 60 percent of Malaysia ’s gross domestic product (GDP) by 2020.


Travel agents booked solid for Tet


Most travel agents confirm that tours for the Tet (Lunar New Year) festival have been fully booked due to the long Tet holiday.


The tourism market this year has shown signs of resurgence, with bookings for Tet tours increasing from 15 to 30 percent against last year, prompting travel agents to announce that they have stopped accepting bookings for tours.


According to Duong Mai Lan, head of the research and development department of Viettravel Hanoi company, the number of tourists booking through the agent’s branches reached 11,000, a year-on-year increase of 30-35 percent.


After the government announced that this Tet would be a nine-day holiday, domestic ticket sales increased 10 percent, filling up both domestic and outbound tours, she said.


The Saigon Travel Service Company (Saigontourist) has received more than 11,000 holiday makers, of which outbound tours increased from 15 to 25 percent over 2009 and tours have been fully booked since February 8 while the Vietran company stopped booking a month ago.


This year, people seem to be favouring China , Japan , Thailand , Cambodia , Singapore , and Malaysia for outbound tours while the most popular destinations in Vietnam are northern sites, where activities to celebrate the 1,000 anniversary of Thang Long-Hanoi are concentrated, as well as beautiful beaches as Nha Trang, Phan Thiet, Phu Quoc, Vung Tau or traditional festivals across the country.


Investors snatch pre-Tet bargains


Attempts by a few investors to grab stocks on the cheap before the Tet (lunar New Year) holiday helped the VN-Index advance on Feb. 11 to within a whisker of 500 points on improved but still modest trading volume.


The Index rose by a respectable 1.84 percent to a close of 499.94, as the value of the day’s trades on the HCM Stock Exchange jumped by 21.5 percent over feb. 10’s total to 989.28 billion VND (53.5 million USD), with a volume of 21.15 million shares.


Foreign investors helped boost the gains on the HCM City market by picking up a net of 1.8 million shares, worth a net of 142.4 billion VND (7.7 million USD). Dairy giant Vinamilk (VNM) continued to attract interest from this sector, as they bought up over 1.2 million VNM shares.


On the Hanoi Stock Exchange on Feb. 11, the HNX-Index also rose for a second day to 163.25 points, a gain of 1.4 percent, but trading remained sluggish on a volume of just 10.5 million shares, worth a combined 329.76 billion VND (17.8 million USD).




Italian machinery industry seeks opportunities


A seminar on the Italian machinery manufacturing industry’s business and investment opportunities in Vietnam was held in Bologna, central Italy, from February 11-12.


The seminar, co-organised by the Italian Employers’ Federation (Confindustria) in Emilia Romagna and Vietnamese Embassy in Italy, aimed to create conditions for machinery manufacturers in Italy in general and Emilia Romagna region in particular to get more access to information on market demand and strengthen cooperation with Vietnamese partners.


Speaking at the seminar, Vietnamese Ambassador to Italy Dang Khanh Thoai highlighted Vietnam ’s investment attraction policy and the country’s large demand for the manufacturing industry, which plays an important role in the national industrialisation and modernisation process.


Thoai expressed his wish that Italian businesses will cooperate with Vietnamese partners in training high-quality workers as well as exchange production and management experiences. He said he hoped that Italian investors will participate in bids for Vietnam ’s large-scale industrial projects in the coming time.


The machinery manufacturing industry is one of the strengths of Emilia Romagna region, which boasts more than 13,000 small- and medium-sized enterprises operating in this field.


Italy ’s investment in Vietnam remains modest with 43 projects capitalised 162 million USD, ranking 33 rd among countries and territories investing in the country.


Supertanker carries oil to Van Phong Bay for first time


A new Vietnamese-registered supertanker on February 11 carrying nearly 100,000 tonnes of diesel fuel docked at Van Phong Bay in the south-central province of Khanh Hoa.

This is the Van Phong I’s first delivery to the Bay. The ship represents a US$47 million investment by the Vietnam National Petroleum Corporation.


The Vice Chairman of the Khanh Hoa provincial People’s Committee, Le Xuan Than, visited and congratulated the Van Phong I’s captain and crew and presented Tet gifts to them.


Soon, the Van Phong I will return to Kuwait to pick up a second shipment of oil and is scheduled to dock at Van Phong Bay again in early April.


Nine more oil shipments to Van Phong Bay are scheduled for this year, paying about VND2,500 billion to the state budget.


Local company exports ‘UFO’ toys to Japan


Tosy Robotics Joint Stock Company will ship the first container of 5,000 ‘unidentified flying object’ toys to Japan.


The company signed a contract worth US$400,000 to export 100,000 toys of this kind to its partners, Takara Tomy, which is Japan’s largest toy company.


Tosy Robotics has also been contracted to export a total of 700,000 UFO products to other countries this year, including the US, Germany and Japan


Vietnam Airline promotes brand abroad


The national flag carrier, Vietnam Airlines (VNA), will participate in 30 international tourism exhibitions this year.


It will also invite 70 foreign tourist and media delegations to conduct surveys and promote the image of Vietnam ’s tourism.


The company plans to buy a further 11 aircraft this year. It will also open a new route between Hanoi and Rangoon ( Myanmar ) next month.


At present, Vietnam Airlines has 57 aircraft.

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