BUSINESS IN BRIEF 31/1
06/08/2010 - 37 Lượt xem
HCM City subway plans get ODA
Prime Minister Nguyen Tan Dung has announced priority for five subway projects in Ho Chi Minh City to be built with Official Development Assistance (ODA).
The Government has assigned HCM City People’s Committee to co-operate with the Ministry of Planning and Investment to raise additional funds for the projects.
The Prime Minister has also required the Ministry of Transport to work with HCM City on the project.
Until 2020, HCM City plans to build five subway routes with a total investment of more than 5 billion USD, aiming to reduce traffic congestion on city roads at a time when the city population is expected to be 13.5 million.
The first 19.7km Ben Thanh – Suoi Tien Route will be built with ODA funds from the Japanese Government.
The subway system is expected to cost a total of 5 billion USD, with six routes and 22 stations with the central station located at 23/9 Park, district 1.
Two routes will begin operation in 2010, which are expected to reduce the number of motorbikes on the streets by 25 percent.
The entire project will be finished by 2020, and should halve the number of motorbikes on the road.
RoK heavy industry complex obtains licence
STX-Vina Heavy Industry Ltd Co, under the Republic of Korea ’s STX Group, was granted an investment licence to build the STX-Vina Heavy Industry Complex by the Van Phong Economic Zone’s management board.
This complex has a total capital of 500 million USD and will be built in Ninh Hai Commune, Khanh Hoa province.
The project has a running time of 50 years and its first phase is expected to be completed in 2011.
Kumho to rev engines in HCM City
The Republic of Korea ’s Kumho Rent-A-Car has been granted a licence by the Department of Planning and Investment to set up in Ho Chi Minh City .
Kumho Rent-A-Car Viet Nam will operate from February this year with a total registered capital of 5 million USD.
Germany encourages businesses to invest in Viet Nam
Viet Nam is an appealing destination for German businesspeople, an official from the German Industry and Commerce Viet Nam (GICVN) said.
At a symposium on the Vietnamese economy and opportunities in Vietnamese market held by the Sachsen Anhalt Chamber of Commerce and Industry , Germany , on January 29, GICVN Head Jan Noether called Viet Nam a “new economic tiger in Southeast Asia ” in his presentation on the performance of the Vietnamese economy. He asserted that Germany places importance to cooperation with Viet Nam and reported that more German states are opening their representative offices in Ha Noi and Ho Chi Minh City .
Addressing the function, Vietnamese Ambassador to Germany Tran Duc Mau affirmed that Viet Nam opens doors widely to German entrepreneurs.
“Cooperation is extremely important to Viet Nam-Germany ties,” the diplomat said, adding that the Vietnamese embassy in Germany will do its best to bolster this cooperation and further the two countries’ ties.
The year 2007 marked a new stride in Viet Nam-Germany trade ties as the two countries’ two-way trade value rose 20 percent to 3.6 billion USD and cooperative projects to build the Germany-Viet Nam University in Viet Nam and a subway system in Ho Chi Minh City were inked.
The Vietnamese Ambassador said there are great opportunities for Germany businesses in such areas as energy and mining, hi-tech research and development, information technology, and biology.
The seminar, held within the framework of “Vietnamese economic day”, saw the presence of Detlef Schubert, Sachsen Anhalt State Minister of Economy and Labour and 70 representatives from German and Vietnamese businesses operating in the state.
Country’s largest diamond trading centre opens in Ha Noi
Viet Nam ’s largest diamond trading centre – Diamond House has opened at 44 Le Ngoc Han street , Ha Noi.
The centre has over 3,000 types of diamond jewelry for customers’ choice.
The centre was invested by the Gold, Silver, Gemstone and Investment Joint Stock Company (DOJI), the only company representing Viet Nam in the International Coloured Gemstone Association.
Industrial zone operator sees 48.4 million USD in earnings
The Song Da Industrial Zone and Urban Development and Investment JSC (Sudico) generated a turnover of 379.36 billion VND (23.8 million USD) in the fourth quarter last year, an increase of 25.6 percent over the same period in 2006.
The company posted a final revenue of 769.3 billion VND (48.4 million USD) for the year, doubling 2006’s figures, with its net profit per share reaching more than 8,600 VND.
Garment maker to pay whopping 40 percent dividend
The Ha Noi Securities Trading Centre (HASTC) announced that the Phu Thinh - Nha Be Textile and Garment JSC (NPS) will pay investors a 2007 dividend of 40 percent in cash on March 7.
At this rate, investors should each receive 4,000 VND per share. The company has a charter capital of 10.5 billion VND (660,000 USD).
Vinamilk skims the cream off high earnings
Dairy giant Vinamilk has reported 1.87 trillion VND (117 million USD) in revenues and 211.9 billion VND (13.2 million USD) in net profits for the fourth quarter of 2007.
On the year, the company gained more than 6.8 trillion VND (425 million USD) in revenues, an increased of 202.76 billion VND (12.7 million USD) over 2006, with 70 percent coming from the domestic market and 30 percent from exports.
Viet Nam, Singapore sign MoU on bank supervisory
The central banks of Viet Nam and Singapore have agreed to enhance cooperation in bank supervisory, said the State Bank of Viet Nam (SBV).
A Memorandum of Understanding (MoU) underscoring the agreement was signed on January 30 in Singapore by representatives from the SBV and the Monetary Authority of Singapore (MAS).
The MOU, which will take immediate effect, will also deepen banking sector linkages between the two economies, said MAS in a statement.
Under the MOU, MAS will work closely with Vietnamese concerned agencies to help Vietnamese enterprises to penetrate into international monetary market.
In 2005, Viet Nam and Singapore signed an agreement to boost economic and financial cooperation. One year earlier, the two countries also inked a MoU on capital exchange.
Viet Nam Airlines, partners issue mileage-credit cards
The national flag carrier Viet Nam Airlines will hook up with the Visa International and the Technological Commercial Bank of Viet Nam (Techcombank) to develop a new mileage-cum-credit card.
A Memorandum of Understandings underscoring the cooperation between the three partners was signed in Ho Chi Minh City on January 30.
Under the MoU, the co-branded Viet Nam Airlines - Visa - Techcombank credit card will be developed basing on the Visa credit cards issued by Techcombank. The users can also earn mileage points when they fly with the Viet Nam Airlines.
The move is considered a critical step in consolidating business operation of the three partners through developing and diversifying their services and products.
Swiss bank puts Viet Nam in new emerging country list
Switzerland’s Credit Suisse bank has included Viet Nam in the list of ten new emerging countries, Le Temps newspaper reported.
“Buffer markets” is a new concept that the bank used to describe the ten countries, the paper said, adding that thanks to the new method, the ten most prospective buffer- markets were identified, based on economic and social criteria.
The ten countries include Panama, Viet Nam, Nigeria, Kazakhstan, Jordan, Peru, Morocco, Ukraine, Botswana, and Colombia.
Source: VNA
