Vietnam Business News

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• TNT opens expanded operations centre in Hanoi
• Samsung to earn $2b from cell-phone export
• Vietnam, China target US$25 billion in trade
• Foster + Partners’ first project in Vietnam breaks ground
• Brokerages report third-quarter profits
• Huge depot receives first petrol
• Chemical group told to hasten work
• Mizuho signs memo with local oil firms
• Crackdown on gold trading likely
• Tourism industry targets 12m visits

TNT opens expanded operations centre in Hanoi Posted: 25 Oct 2010 08:16 PM PDT TNT, one of the world’s leading express delivery firms, yesterday launched a newly-expanded operations centre in Hanoi, which is three times larger than the original. The Hanoi Operations centre is part of TNT’s expansion plan to meet increasing demand of freight transport in and out of Vietnam. The $1.5 million facility is operated by over 100 [...]

Samsung to earn $2b from cell-phone export Posted: 25 Oct 2010 08:16 PM PDT Samsung Electronics Vietnam is expected to gain up to $2 billion from exporting cell-phones this year, having beaten this year’s target of $1.7 billion by end-September, said a top executive of another Samsung subsidiary. Je Hyoung Park, chief executive officer of Samsung Vina, told a press briefing in HCM City yesterday that the cell-phone factory in [...]

Vietnam, China target US$25 billion in trade Posted: 25 Oct 2010 08:07 PM PDT Vietnam and China should strive to reach bilateral trade of US$25 billion this year, along with solving a trade imbalance between the two countries. Deputy Prime Minister Truong Vinh Trong made the remark at a meeting with Chairman of the Chinese People's Political Consultative Conference (CPPCC) when the former was in Nanning to attend the seventh [...]

Foster + Partners’ first project in Vietnam breaks ground Posted: 25 Oct 2010 08:00 PM PDT A ground-breaking ceremony has been held for VietinBank Business Centre, Foster + Partners’ first project in Vietnam. A ground-breaking ceremony has been held for VietinBank Business Centre, Foster + Partners’ first project in Vietnam. Bringing together the Bank’s headquarters, conference, hotel and leisure facilities, the landmark towers are strategically located between central Hanoi and the airport, demonstrating [...]

Brokerages report third-quarter profits Posted: 25 Oct 2010 07:58 PM PDT As many as 21 securities companies have reported third-quarter business results, with 12 posting gains in profits and nine losses. The largest firms in terms of brokerage market share on the HCM City and Ha Noi stock exchanges constituted the majority of gainers. Most of their income came from brokerage fees and other financial services, including [...]

Huge depot receives first petrol Posted: 25 Oct 2010 07:57 PM PDT The Vung Ang Petrol, Oil and Gas Joint Stock Co in the central province of Ha Tinh received the first 5,000cu.m of petrol at its depot on Sunday. The company’s depot is the largest petrol and oil project in the north of central Viet Nam with a total capacity of 110,000 cubic metres. The project with total [...]

Chemical group told to hasten work Posted: 25 Oct 2010 07:56 PM PDT Deputy Prime Minister Hoang Trung Hai asked the Ministry of Industry and Trade to instruct the Viet Nam National Chemical Group to hasten construction of a diamonium phosphate production factory in northern Hai Phong Port City. Construction of the Viet Nam National Chemical Group (Vinachem) plant began in 2003. Total investment capital for the project is [...]

Mizuho signs memo with local oil firms Posted: 25 Oct 2010 07:55 PM PDT The Japanese Mizuho Corporate Bank Ltd (Mizuho) yesterday signed Memorandums of Understanding with the Viet Nam National Oil and Gas Group (PetroVietnam) and PetroVietnam Joint stock Finance Corporation (PVFC) to strengthen its relationship with the parties in Ha Noi. Under the documents, Mizuho will provide financial services for PetroVietnam’s investments by interfacing with the Japanese and [...]

Crackdown on gold trading likely Posted: 25 Oct 2010 07:54 PM PDT The State Bank of Viet Nam is expected to issue regulations this week to tighten controls on gold transactions and ease the pressure that rising gold prices have placed on the foreign exchange market. The spike in gold prices is believed to have contributed to the overheating of the US dollar on the black market in [...]

Tourism industry targets 12m visits Posted: 25 Oct 2010 07:53 PM PDT The tourism industry plans to earn US$8.9 billion in 2015 when the country expects to welcome 12 million foreign visitors and host 28 million domestic travellers, according to a draft on tourism development from 2010-20. The industry would earn $15.9 billion in revenue in 2020, which would contribute to 6 per cent of GDP, according to [...]

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