Vietnam Business News

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• Ha Nang hydropower plant joins national grid
• Construction of Phu My resettlement area
• Construction on Hoang Phat new urban area begins
• Pressure on capital adequacy ratio get tougher on Vietnam banks
• HSBC inks deal with LG, appoints Vietnam payments head
• Thailand one of Vietnam’s top ten biggest investors
• Dutch-firm Philips sells decorative lighting
• Motorcycle imports rev up during August
• Italian valve maker opens HCM City office
• Eight PetroVietnam affiliates to list

Ha Nang hydropower plant joins national grid Posted: 22 Sep 2010 12:58 AM PDT Thien Tan Joint Stock Co successfully connected the power source from Ha Nang hydropower plant to the national grid. The hydropower plant was built in Tra Thuy Commune, Tra Bong Dist, Quang Ngai province with total designed capacity of 11MW. The over-300 billion-dong plant was expected to supply the national grid 76 million KW of commercial [...]

Construction of Phu My resettlement area Posted: 22 Sep 2010 12:52 AM PDT Phu My resettlement area project will be started its construction in District 7, 1.3 kilometres far from Phu My Hung urban area. The 4.374 trillion dong invested – work will has 108,091 square metres of land area with floor area of 501,698 square metres, including three subareas: first and third ones covering 72,000 square metres has [...]

Construction on Hoang Phat new urban area begins Posted: 22 Sep 2010 12:51 AM PDT Hoang Phat Investment Construction Joint Stock Co officially started the construction on Hoang Phat new urban area in Bac Lieu province. The project has total investment capital of 568 billion dong. Hoang Thanh Long, the company’s general director said that this was the joint project of Hoang Phat JSC and Lilama Real Property Joint Stock Co [...]

Pressure on capital adequacy ratio get tougher on Vietnam banks Posted: 21 Sep 2010 10:28 PM PDT The regulations of the State Bank of Vietnam on raising the capital adequacy ratio from 8 percent to at least 9 percent have created greater pressure for banks, but, according to the central bank and experts, this is necessary for Vietnam’s banking system to gradually catch up with international banking standards. The CAR is a measure [...]

HSBC inks deal with LG, appoints Vietnam payments head Posted: 21 Sep 2010 10:27 PM PDT HSBC wins a cash management mandate from LG Innotek, and appoints a new head of payments and cash management in Vietnam. Korean conglomerate LG Innotek has appointed HSBC as its cash management provider for its subsidiaries in mainland China. LG Innotek manufactures electronic components for mobile phones, computers, wireless communications products and cars, and is more [...]

Thailand one of Vietnam’s top ten biggest investors Posted: 21 Sep 2010 10:26 PM PDT A conference on the relationship between Thailand and Vietnam was jointly organised by Vietnam's Ministry of Foreign Affairs and Thailand's Thammasat University on September 21. The conference discussed the development of the two countries' relationship in politics, economics, culture, society and education as well as their multilateral ties within the ASEAN bloc and at regional forums. Thailand [...]

Dutch-firm Philips sells decorative lighting Posted: 21 Sep 2010 09:37 PM PDT The Dutch-based Philips Viet Nam Ltd. Company (Philips Viet Nam) began selling decorative lighting products in Ha Noi and HCM City last week. Philips Viet Nam has introduced seven kinds of products, including the Ledino (special designs with LED technology) and EcoMoods (energy-saving lights). Many of the products can help save up to 80 per cent of [...]

Motorcycle imports rev up during August Posted: 21 Sep 2010 09:36 PM PDT Imports of motorcycles into Viet Nam soared by 68 per cent in August to a total of 63,624 vehicles for the month, valued at US$83 million The customs department said motorcycle imports increased by 68.3 per cent in volume and 84.7 per cent in value against previous months. Motorcycle imports have been predicted to increase at the [...]

Italian valve maker opens HCM City office Posted: 21 Sep 2010 09:36 PM PDT Valvitalia SpA, a leading Italian supplier of equipment and components for the oil, gas, power, and water-supply industries, opened a representative office in HCM City yesterday (Tuesday). Last July the company signed a memorandum of understanding with the Petroleum Technical Service Corp, a subsidiary of PetroVietnam, for opening a plant in Viet Nam.

Eight PetroVietnam affiliates to list Posted: 21 Sep 2010 09:35 PM PDT Eight companies under the PetroVietnam Group plan to list on stock markets at the fourth quarter this year. “These companies have finalised all of the administrative procedures for listings,” the group’s deputy director Nguyen Ngoc Su said, adding that about 26 other companies were also in the listing process and expected to list either in the [...]

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