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BUSINESS IN BRIEF 8/9   2008-09-08 - TT, DT, VOV, CPV, TN, VNA, VNS

 
300 businesses to attend Hanoi Expo 2008

Nearly 300 businesses will showcase their products in 500 stands at the 2008 Hanoi International Trade Fair (Hanoi Expo 2008) from October 8-13, according to Nguyen Thi Nhu Mai, deputy head of municipal industry and trade department.

On display will be a wide rage of Hanoi’s leading products such as garments, food and foodstuffs, interior decorations, hi-tech products and services. Organisers will set up stands to display traditional handicrafts made by artisans from the expanded Hanoi.

Apart from featuring the capital’s development achievements, Hanoi Expo 2008 will have 80 stands for foreign businesses from ASEAN countries, China, the Republic of Korea, India and ẸU

An international tourism exhibition and a photo exhibition will be held to welcome the 7th annual conference of the Council for the Promotion of Tourism in Asia in Hanoi from October 5-10.

Vinaconex aims to become a powerful economic group

The Vietnam Construction Import-Export Joint Stock Corporation (Vinaconex) should make more effort to become a powerful Vietnamese economic group, said Deputy Prime Minister Hoang Trung Hai.

Addressing a ceremony in Hanoi on September 7 to mark the corporation’s 20th anniversary, Mr Hai praised Vinaconex for its remarkable contributions to the country during the Doi Moi (renewal) process, stating that the corporation has taken the lead in various areas, ranging from conducting scientific research to upgrading its technology and implementing projects.

However, he said that construction businesses are facing a number of challenges, as the country’s infrastructure has not yet kept pace with national socio-economic development. He expressed his belief that Vinaconex will sharpen its competitiveness to make its brand more well known both inside and outside the country.

Since its establishment in 1988, Vinaconex has implemented thousands of projects, including national ones such as the International Conference Centre and the National Convention Centre in Hanoi. It has also built the Cam Pha Cement Plant and Bai Chay Bridge in Quang Ninh province, Buon Kuop hydro-electric power plant in Dak Lak province, the Cua Dat hydro-electric-irrigation project in Thanh Hoa province and a number of new urban areas in Hanoi and Ho Chi Minh City.

According to Vinaconex CEO Nguyen Van Tuan, the corporation will diversify its services focusing on civil engineering, industrial production, building materials, investment in business services, consultancy, project management, human resources training and education.

In recognition of its contributions to national development, the State has decided to present the title “Labour Hero” to the corporation. State Vice President Nguyen Thi Doan pinned the Labour Hero badge on the corporation’s flag at the ceremony.

Viet Dragon to open fourth agency today

Viet Dragon Securities opened yesterday a trading agency in HCM City, the fourth one in the nation.

The firm has offered a preferential trading fee for clients in the new agency, as well as providing them with online trading services.

SSC grants licence to Ha Noi brokerage firm

The State Securities Commission has granted an operational licence to Phuong Hoang Securities Company.

The newly established brokerage house will provide traders with securities brokering and consulting. It has been recently allowed to hold deposits securities.

Phuong Hoang Securities, locating in Ly Thai To Street in Ha Noi, has charter capital of VND35 billion (US$2.12 million).

Builder to list 1.72m more shares in City

Construction Joint Stock Company No5 will list an additional 1.72 million shares in HCM City Stock Exchange next week.

This share volume is for last year’s dividend payments and will be paid at a rate of 20 per cent. The odd number of shares in the listing will be bought back for VND10,000.

The company in the first half of this year earned VND23.3 billion (US$1.41 million) in after-tax profit, a reduction of 24.96 per cent from the corresponding period last year. It also generated VND350 billion turnover in the same period.

Minh Hai Housing to offer 4.8m shares

Minh Hai Housing Development Company will offer 4.80 million shares at an initial price of VND10,000.

The auction is expected to be held on October 6. Details of the auction will be announced on September 15.

The company, located in Ward 7, Ca Mau City, has charter capital of VND70.68 billion ($4.3 million).

Commercial Bank gets approval to list

Ha Noi Securities Trading Centre has approved a move by the Sai Gon-Ha Noi Commercial Bank to list 50 million shares.

Total value of the shares is VND500 billion (US$30.3 million). The bank, established in 1993, has charter capital of VND2 trillion ($121.2 million). It has 40 branches and agencies nationwide.

Vietnam, Laos work together to mine salt

Representatives from the Lao Government and the Vietnam Chemical Corporation (Vinachem) on September 5 signed an agreement to provide more salt mining areas for Vinachem.

Under the agreement, the Lao Government will allow the Vietnamese corporation to mine salt in an additional area of 196.5 square kilometres in Khammouan and Savannakhet provinces in the central region.

 

The move aims to ensure an adequate supply of unrefined salt for a kali salt mining and processing project, which was previously agreed by both countries in 2004.

 

The same day, Vinachem officially inaugurated the Vietnam-Laos Salt-Mine and Chemical Co. Ltd. in Vientiane capital.

 

On September 27, 2004, the two sides reached an agreement to mine for salt on an area of 10 square kilometres in the Nongbok district of Khammouan province.

Boosting fruit & vegetables exports to EU

The Vietnam Fruit Association (Vinafruit) held a workshop on “growing, processing and exporting fruit and vegetables to Europe ” in southern province Tien Giang on September 4-5.

Experts from OSEC/SIPPO, a Swiss organisation, and the Southern Fruit Research Institute (Sofri) discussed Vietnam’s fruit and vegetables export, strategy, and the EU’s regulations concerning the import of the staple, particularly quality examination and origin identification.


The southern region has 460,900ha of fruit and vegetables, accounting for nearly 60 percent of the country’s total area. The figure is expected to increase to 539,000ha by 2010.

Vietnam’s chicken imports from Argentina increase

Imported fresh chicken from Argentina cost Vietnam a total of US$2.2 million in the first seven months of this year, making Vietnam one of Argentina’s twelve biggest importers of chickens, according to Argentina’s Service of Agricultural Health (SENASA).

 

This is an increase of 2.6 percent compared to the same period last year.

 

Vietnam also imported around 10,014 tonnes of other chicken products from Argentina, worth US$9.5 million in the reviewed period.

 

Until July this year, Argentina was one of the world’s biggest suppliers of chicken exporting 127,565 tonnes of chicken products, earning US$181 million.

Bosch Group builds push-belt factory in Dong Nai

Germany’s Robert Bosch SEA Pte Ltd on Sept. 5 broke ground for a factory producing push-belts for automobiles in southern Dong Nai province.

The 55-million Euro plant is the first project invested by the Bosch Group in Vietnam.

Robert Bosch SEA President and CEO Cem Pakesaglam said the project will make push-belts used in Continuously Variable Transmission (CVT) for various automobiles ranging from subcompacts to sports utility vehicles.

Scheduled for operation in October 2009, the factory will be capable of producing 380,000 sets of push-belts per annum. Its annual output will be raised to 2.3 million sets in 2015.

Director of the factory Reinhard Kink said the plant will employ around 800 workers in the first phase. Skilled workers will be recruited and then sent to Tilburg, the Netherlands, where the Bosch Group is operating a similar plant for further training.

Thai Seamico Securities to buy into Vietnamese firm

Thailand's Seamico Securities said Friday it would buy a 25 percent stake in a securities firm in Vietnam as part of its plan to expand overseas.

The brokerage did not say how much it had paid, but it said in a statement to the Thai stock exchange that it could eventually take up to 49 percent in Vietnam's Thanh Cong Securities Co J.S.C.

Thanh Cong Securities has registered capital of US$21.5 million and Thanh Cong Textile Garment is a major shareholder, the statement said.

Vienam's main stock index, which rose 24 percent last year after jumping 145 percent in 2006, has lost 41 percent this year, hit by global credit woes and soaring domestic inflation.

Seamico, ranked seventh among Thailand's 38 listed brokers, focuses on underwriting share and debt issues as well as advising companies on initial public offerings.

The Thai firm has said it expected to receive a license to enter Cambodia later this year.

It posted a second-quarter net profit of 28.15 million baht ($815,000).



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