Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade LTCUSD, Bitcoin and Cryptocurrencies

BUY & SELL LTCUSD | View LTCUSD News & Updates


Buy Sell LTCUSD, Bitcoin and Cryptocurrencies

BUSINESS IN BRIEF 4/9   2010-09-04 - VNS, TN

EVN sends 912 million kWh of power to Cambodia in 16 mths

 

 
Electricity of Viet Nam (EVN) has supplied nearly 912 million kWh of power over the past 16 months to Cambodia.

 

The national power utility released these figures at a conference on the Chau Doc-Takeo 220kV transmission line held in HCM City on Tuesday.

 

The meeting was organised by EVN’s National Power Transmission Co (NPT) and Electricity of Cambodia (EDC).

 

Nguyen Van Bay, head of the technology division under the Power Transmission Company No4, said the Chau Doc-Takeo transmission line had helped Cambodia deal effectively with power shortages.

 

He said EVN had gone to great lengths to achieve this because Viet Nam was itself facing serious electricity shortage during the dry season this year.

 

The two sides discussed several issues at the conference, including the operation of the transmission line linking Chau Doc in An Giang Province with Cambodia’s Takeo Province; developing new power networks, as well as technical problems and maintenance work.

 

The 220kV Chau Doc – Takeo Transmission Line includes a 26.5-km line from Chau Doc to the border between the two countries and a 50.1-km line from the border to Takeo.

 

The project is part of a power purchasing contract signed between the EVN and the EDC, and an agreement on power energy cooperation between the Cambodian and the Vietnamese Governments signed in July, 2000.

 

In addition to this transmission line, the EVN has also signed power purchasing contracts with Chinese and Lao partners.

 

Southern bourse seeks volume

 

The HCM City Stock Exchange will extend the continuous order matching phase of its daily trading sessions on September 13, in a bid to improve transaction volumes.

 

A trading session currently lasts from 8.30 to 11.00am and contains four phases: periodical order matching to determine opening prices (the first 30 minutes), continuous order matching (the subsequent 60 minutes), periodical order matching to determine closing prices (the next 30 minutes) and negotiated transactions (final 30 minutes).

 

Under the adjusted system to be instituted later this month, the opening and closing sessions of periodical order matching will each be shortened to just 15 minutes each. While, trading in continuous order matching method will be lengthened to a total of 105 minutes per day.

 

The negotiated transactions will also occur at the beginning of the session, between 8.30 and 8:45am, instead of in the final 30 minutes as currently.

 

HCM City Stock Exchange spokesman Le Hai Tra said that a trial run of extended trading hours went well, ensuring good run on official operation.

 

The exchange has also submitted to market regulators a plan adding an afternoon trading session, Tra said, adding, "We will announce the details right after the approval."

 

VietinBank Securities Co deputy director Nguyen Tho Phung said that trading hours needed to be extended to the afternoon to match international standards.

 

However, he said, the exchange needed to set a reasonable division of time for each session in order to help investors keep up with worldwide news and make better investment decisions.

 

Extended trading sessions could help lure more foreign investors, agreed the head of research for a Ha Noi-based securities company, Nguyen Anh Quan.

 

"The capital cycle will only increase significantly once investors have more tools to realise profits effectively and flexibly," Quan added.

 

Companies seek incentives to develop global trademarks

 

More than 400 Government officials, economists and business executives discussed building Vietnamese trademarks to help businesses improve their global competitiveness at a seminar held in HCM City on Wednesday.

 

Vo Van Quang, business director of Cowan Australia Trademark Building Co said with companies needing to invest money to develop trademarks, the Government should offer them incentives for the purpose.

 

It could waive tax for a year for companies that sold a brand in a new market.

 

Business associations had a major role in helping businesses popularise trademarks in global markets, he added.

 

Many participants agreed that quality standards were not carefully regulated and intellectual property protected, posing hurdles to developing trademarks.

 

The seminar was held by the Viet Nam Young Entrepreneurs Association.

 

In related news, 200 top brands received the Sao Vang Dat Viet prize (Viet Nam Gold Star) at a ceremony held on Independence Day, Thursday, by the association.

 

Organisers divided the prize into the Top 10, Top 100 and Top 200 categories to honour the best.

 

The top 10

 

The top 10 included Thaco Group, Tien Phong Plastics Co, Viet Tien Joint Stock Co, PetroVietnam Construction Joint Stock Corporation, HANAKA Corporation, and Trung Nguyen Joint Stock Co.

 

The winners were chosen based on criteria like their competitiveness and market position, technologies, environment and quality management, brand development, business management, and social and community responsibility.

 

The 200 brands accounted for revenues of more than VND453 trillion (US$23.8 million) last year.

 

Deputy Prime Minister Truong Vinh Trong hailed the efforts by businesses to spearhead economic growth.

 

He called on the Ministry of Industry and Trade and other relevant agencies to create a legal environment conducive for businesses to grow and establish tie-ups with others.

 

A series of other activities were held on the sidelines of the event, including a march by 10,000 workers from the prize-winning companies to raise funds for disadvantaged children

 

The parade, held at the April 30 Park, raised more than VND3.2 billion ($168,421).

 

Started in 2002, the annual Viet Nam Gold Star award seeks to encourage and honour businesses and famous trade marks.

 

Work starts on Metro 2 highway

 

HCM City has started work on Metro No2 highway backed with US$1.25 billion borrowed from the Asian Development Bank, European Investment Bank and Kreditanstalt Fur Wiederaufbau (Reconstruction Credit Institute). The 20km-long road will stretch from the new urban area of Thu Thiem to An Suong bus station. It is expected to be open in six years.

 

15-floor housing block under way

 

Pacific Property and Infrastructure Development JSC (PPI) and Hung Thuan Investment Joint Stock Co started work on an office and residential building in HCM City last week. It will cost VND213 billion (US$10.92 million). The project will cover 20,279sq.m and include 15 floors and a basement.

 

New urban area for Hung Yen

 

Work has started on the 92.5ha Long Hung urban area in the northern province of Hung Yen.

 

The project will cost VND2.48 trillion (US$127.33 million). This year, about VND1.29 trillion ($66.61 million) will be spent for ground clearance and compensation.

 

Hoan Kiem trade centre to open

 

The VND250 billion (US$12.82 million) Hang Da Trade Centre project will open in Hoan Kiem District later this year. The project, covering 9,312sq.m and including five floors and two basements, will provide a retail area of nearly 7,000sq.m leasing at $6,000-10,000 per sq.m.

 

Vietnam plans power purchases from China through 2015 

 

Vietnam plans to continue purchasing electricity from China in the next five years as the country tries to ensure its energy security, the government said.

 

Deputy Prime Minister Hoang Trung Hai asked national power utility, Electricity of Vietnam, also known as EVN, to negotiate long term contracts with Chinese partners to purchase electricity through 2015, according to a statement posted on the government website Friday. Further details were not mentioned.

 

EVN was also ordered to look for other power sellers in other regional countries and speed up construction of new power plants in the country. 

 

Vietnam is part of the ASEAN Power Grid, a plan initiated 10 years ago to connect power networks of Southeast Asian countries towards ensuring continued power supply in the region. However, the country has so far connected its grid only with Laos and Cambodia.

 

The government said Vietnam is developing facilities to link its grid with Thailand and Myanmar and then other Southeast Asian nations.

 

According to EVN, power supply will be stable in September unless there are technical problems.

 

Vietnam’s power consumption surged 3.2 percent in August from July even though output fell 3.5 percent to around 8.1 billion kilowatt-hours.


Other news

Viet Nam can gain from China’s success   2010-09-04

Thirst for beer remains unquenched   2010-09-04

Ha Noi property market goes west   2010-09-04

Ratings firms get tough on banks   2010-09-04

Forbes calls Vinamilk an ‘udder success’   2010-09-04

BUSINESS IN BRIEF 3/9   2010-09-03

Thai-Viet Co. to build $50 mil ethanol complex in Ninh Thuan   2010-09-03

Boeing supports Vietnam Air’s aircraft interior upgrade   2010-09-03

BUSINESS IN BRIEF 2/9   2010-09-02

Inflation on the backfoot   2010-09-02

Boeing supports Vietnam Air’s aircraft interior upgrade   2010-09-02

Inflation on the backfoot   2010-09-02

More incentives for cable undergrounding projects   2010-09-02

BUSINESS IN BRIEF 1/9   2010-09-01