Vietnamese handicraft products are being showcased at the 42nd international trade fair, which opened Algiers on May 30.
The six-day trade fair, themed “a suitable time for the emerging of a competitive economy” attracted the participation of 1,300 businesses from 40 countries and territories around the world. It is expected to draw about 500,000 visitors.
The same day, an exhibition was held to promote the export products of Algiers, with the aim of expanding its market beyond its traditional products of oil and gas.
On the occasion, many international experts attended a number of seminars on banking, insurance and taxation, aimed at promoting trade exchange among partners. (Business)
Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts
Sunday, May 31, 2009
Japan highly values Vietnamese trainees’ skills
Japanese agencies and businesses highly value Vietnamese trainees for their skills, work ethic and abilities.
This assessment was made by a delegation from the Party’s Central Committee Office after visiting Japan to conduct a survey of Vietnamese workers, including trainees.
During the visit from May 26-29, the delegation, headed by Duong Thanh Bac, Deputy Director of the Party’s Central Committee Office, met with the Board of Management for Vietnamese Guest Workers in Japan, the Association for Development of International Manpower for Small and Medium Enterprises (IMM Japan) and several leading Japanese businesses such as Asama Piston Co. Ltd, the Maruoka Furniture Company and the Marine & Engineering Shipbuilding Company.
The Japanese business community, however, pointed to the poor Japanese language skill of the Vietnamese trainees and their limited ability to adapt to the Japanese cultural environment.
Bac expressed his thanks to the Japanese agencies and companies for the high-quality training they provided to the Vietnamese trainees as they will be able to serve the national industrialisation and modernization. He said he hoped that the Japanese Government would take more Vietnamese workers and help them to integrate into life in Japan.
Vietnam has so far sent 40,000 trainees to Japan since 1992 under a training and technical education programme. They have been trained at small and medium enterprises, mainly in garments and textiles, electronics, engineering, construction and fisheries, at an average salary of between Ú$700-1,000 per month.
As well as the programme, Vietnam has also sent people to study and work in Japan’s IT sector. So far, nearly 1,000 engineers and technicians have worked in the country. ( Business News)
This assessment was made by a delegation from the Party’s Central Committee Office after visiting Japan to conduct a survey of Vietnamese workers, including trainees.
During the visit from May 26-29, the delegation, headed by Duong Thanh Bac, Deputy Director of the Party’s Central Committee Office, met with the Board of Management for Vietnamese Guest Workers in Japan, the Association for Development of International Manpower for Small and Medium Enterprises (IMM Japan) and several leading Japanese businesses such as Asama Piston Co. Ltd, the Maruoka Furniture Company and the Marine & Engineering Shipbuilding Company.
The Japanese business community, however, pointed to the poor Japanese language skill of the Vietnamese trainees and their limited ability to adapt to the Japanese cultural environment.
Bac expressed his thanks to the Japanese agencies and companies for the high-quality training they provided to the Vietnamese trainees as they will be able to serve the national industrialisation and modernization. He said he hoped that the Japanese Government would take more Vietnamese workers and help them to integrate into life in Japan.
Vietnam has so far sent 40,000 trainees to Japan since 1992 under a training and technical education programme. They have been trained at small and medium enterprises, mainly in garments and textiles, electronics, engineering, construction and fisheries, at an average salary of between Ú$700-1,000 per month.
As well as the programme, Vietnam has also sent people to study and work in Japan’s IT sector. So far, nearly 1,000 engineers and technicians have worked in the country. ( Business News)
Businesses respond to Tra Vinh call for investment
Local and foreign businesses signed agreements on 31 projects with Tra Vinh at an investment promotion conference held in the Mekong Delta province Saturday.
The provincial administration called for increased investment in infrastructure, energy, trading-services and tourism projects.
In particular, the province needs investment in projects to build infrastructure for the Long Duc and Duyen Hai industrial parks; the Co Chien industrial park area; the Dinh An economic zone; as well as projects to expand a canal and deep-water port, build a bridge and upgrade highways, the conference heard.
Deputy Prime Minister Nguyen Sinh Hung said at the conference that Tra Vinh was a poor province with great potential for development that will be further enhanced with a series of projects that the central government will implement in the near future.
Hung said he hoped enterprises who take part in the province’s projects will have policies to attract local workers. (Businesses)
The provincial administration called for increased investment in infrastructure, energy, trading-services and tourism projects.
In particular, the province needs investment in projects to build infrastructure for the Long Duc and Duyen Hai industrial parks; the Co Chien industrial park area; the Dinh An economic zone; as well as projects to expand a canal and deep-water port, build a bridge and upgrade highways, the conference heard.
Deputy Prime Minister Nguyen Sinh Hung said at the conference that Tra Vinh was a poor province with great potential for development that will be further enhanced with a series of projects that the central government will implement in the near future.
Hung said he hoped enterprises who take part in the province’s projects will have policies to attract local workers. (Businesses)
Sunday, February 22, 2009
Belgium and Vietnam promote textiles
The Belgian government has committed to providing EUR 1 million for a project to strengthen the capacity in researching, training and developing textile technique testing of the Textile Research Institute (TRI).
Deputy Minister of Industry and Trade Bui Xuan Khu and Belgian Ambassador to Vietnam Hubert Cooreman signed an agreement to this effect in Hanoi on January 22.
The project will help TRI gain self-control in finance and become a leading textile research institute in Vietnam.
The project will focus in increasing the capacity for the Textile Research Institute through R&D activities, transfer of technology, testing and training.
The project will be carried out within 36 months.
Deputy Minister of Industry and Trade Bui Xuan Khu and Belgian Ambassador to Vietnam Hubert Cooreman signed an agreement to this effect in Hanoi on January 22.
The project will help TRI gain self-control in finance and become a leading textile research institute in Vietnam.
The project will focus in increasing the capacity for the Textile Research Institute through R&D activities, transfer of technology, testing and training.
The project will be carried out within 36 months.
Enterprises to require legal framework for franchise development
Vietnam's enterprises will require a strong legal framework including government legislation and supporting policies to develop franchises in the coming years, according to economists at a symposium held in HCMC late last week.
Economists at the Franchise Vietnam 2008 conference stated that franchising is a relatively new concept in Vietnam, and in order for it to develop stably, the central Government should improve the legislative sectors.
Pham Chi Lan, an economic expert, said Vietnam needs to continue to improve commercial law, intellectual property law, standards for goods and protocols for solving commercial disputes.
"If these four legislative improvements are executed, franchises will develop more stably because the risk of commercial dispute in franchising is predictable," said Lan.
According to economists, franchises have been developing in Vietnam for the past two years. However, few enterprises or trademarks were able to successfully franchise until now.
Le Cong Dinh, a lawyer from DC law firm, said most of Vietnam's 65 franchises are foreign-owned. However, after the country's inclusion into the World Trade Organization there has been a surge in franchise development.
Ly Qui Trung, chairman of the Nam An Group which owns Pho 24, said that enterprises should apply these four steps in franchising nationally and internationally: franchising demand specification, partner selection, partner examination and partner negotiation. "The enterprise's franchise development could be impeded if one of the four steps is neglected," Trung said.
The development of domestic and foreign franchises will be crucial for commercial activities, especially in the service sector. It is predicted that franchises will be fully developed in Vietnam by 2012, said Tran Anh Tuan of the FT-Pathfinder Consulting Group.
"The enterprises need more supporting policies from the government in the legislative and administrative sectors, so that they can successfully conduct franchising activities in the country," said Tuan. (SGT)
Economists at the Franchise Vietnam 2008 conference stated that franchising is a relatively new concept in Vietnam, and in order for it to develop stably, the central Government should improve the legislative sectors.
Pham Chi Lan, an economic expert, said Vietnam needs to continue to improve commercial law, intellectual property law, standards for goods and protocols for solving commercial disputes.
"If these four legislative improvements are executed, franchises will develop more stably because the risk of commercial dispute in franchising is predictable," said Lan.
According to economists, franchises have been developing in Vietnam for the past two years. However, few enterprises or trademarks were able to successfully franchise until now.
Le Cong Dinh, a lawyer from DC law firm, said most of Vietnam's 65 franchises are foreign-owned. However, after the country's inclusion into the World Trade Organization there has been a surge in franchise development.
Ly Qui Trung, chairman of the Nam An Group which owns Pho 24, said that enterprises should apply these four steps in franchising nationally and internationally: franchising demand specification, partner selection, partner examination and partner negotiation. "The enterprise's franchise development could be impeded if one of the four steps is neglected," Trung said.
The development of domestic and foreign franchises will be crucial for commercial activities, especially in the service sector. It is predicted that franchises will be fully developed in Vietnam by 2012, said Tran Anh Tuan of the FT-Pathfinder Consulting Group.
"The enterprises need more supporting policies from the government in the legislative and administrative sectors, so that they can successfully conduct franchising activities in the country," said Tuan. (SGT)
Saigon Petro buys 77KT distillates at higher prices
Vietnam's Saigon Petro Co Ltd has bought the full tender volume of 77,000 tonnes of distillates for February and March, and will seek more gasoline to meet strong demand, a market source said on Wednesday.
The latest tender purchases, which were awarded to trading houses including Chinaoil and Unipec, nearly doubled from 40,000 tonnes bought in a past tender for February, he said.
The state fuel importer had to fork out higher prices for gasoline cargoes due to thin Asian supply, said the source familiar with the tender. "There are few offers because there is not much (gasoline) supply around. Consumption in Vietnam is rising rapidly and Saigon will try to buy more cargoes for March delivery in the spot market," he added.
The table below shows the tender results but the full list of the winners was not immediately available. Volumes are in thousands of tonnes. (Financial Times)
The latest tender purchases, which were awarded to trading houses including Chinaoil and Unipec, nearly doubled from 40,000 tonnes bought in a past tender for February, he said.
The state fuel importer had to fork out higher prices for gasoline cargoes due to thin Asian supply, said the source familiar with the tender. "There are few offers because there is not much (gasoline) supply around. Consumption in Vietnam is rising rapidly and Saigon will try to buy more cargoes for March delivery in the spot market," he added.
The table below shows the tender results but the full list of the winners was not immediately available. Volumes are in thousands of tonnes. (Financial Times)
Tien Giang’s star apples find way to Russia
The 2007-08 harvest saw Russia have so far imported one tonne of star apples of the Lo Ren trademark grown in Vinh Kim village, Chau Thanh district in the Mekong Delta province of Tien Giang .
Deputy Head of the Lo Ren Star Apple Cooperative Le Van Son said he has received orders for the fruit from many other countries. Singapore , for example, has ordered a container of 14 tonnes.
“But my cooperative is unable to meet the demand,” he said.
Son’s business will ship another batch weighing 92 kg of star apple to Russia on January 26.
The star apple of the Lo Ren trademark is growing on some 2,230 ha of land in 13 villages of Chau thanh district. The fruit yields between 13 and 15 tonnes per ha, thus producing some 22,000 tonnes a year. (VNA)
Deputy Head of the Lo Ren Star Apple Cooperative Le Van Son said he has received orders for the fruit from many other countries. Singapore , for example, has ordered a container of 14 tonnes.
“But my cooperative is unable to meet the demand,” he said.
Son’s business will ship another batch weighing 92 kg of star apple to Russia on January 26.
The star apple of the Lo Ren trademark is growing on some 2,230 ha of land in 13 villages of Chau thanh district. The fruit yields between 13 and 15 tonnes per ha, thus producing some 22,000 tonnes a year. (VNA)
Sino-ASEAN free-trade area to be set up by 2010
Sino-ASEAN two-way trade turnover reached US $202.6 billion in 2007, up by 26 per cent over 2006, according to a release from a top-level Sino-ASEAN conference on trade and investment recently held in Beijing.
The figure exceeds the target of US $200 billion set for 2010.
According to the Chinese Deputy Secretary General of the Sino-ASEAN Trade Council, the success shows the large potential of two-way trade between China and ASEAN and the desire for cooperation of businesses of the two sides.
The two parties agreed on a series of policies and measures to boost cooperation in the forthcoming years.
Officials from China and ASEAN also have agreed to establish a Sino-ASEAN free-trade area by 2010. (TBKT)
The figure exceeds the target of US $200 billion set for 2010.
According to the Chinese Deputy Secretary General of the Sino-ASEAN Trade Council, the success shows the large potential of two-way trade between China and ASEAN and the desire for cooperation of businesses of the two sides.
The two parties agreed on a series of policies and measures to boost cooperation in the forthcoming years.
Officials from China and ASEAN also have agreed to establish a Sino-ASEAN free-trade area by 2010. (TBKT)
Ericsson lands major VNPT equipment contract
The nation’s leading phone company, VNPT, has selected Ericsson to supply telecommunications equipment that can accommodate 200,000 new fixed-line telephone subscribers in the central region.
The deal is part of the second phase of a VNPT project to expand services in the central region. In the first phase, begun in August 2006, Ericsson was awarded the equipment contract to add 600,000 fixed-line telephone subscribers.
Ericsson’s presence in Viet Nam dates back over 15 years when the Swedish-based firm started its first telephone network project in Viet Nam. Financial information about the latest deals has not been released.
In 2005, Ericsson previously won a bid on the Central Viet Nam Rural Telecom Network project, a communications development project financed by a loan from the Japan Bank for International Cooperation (JBIC) to expand phone service in remote, low-telephone penetration areas in 10 provinces in the central region
Meanwhile, the distinctly Swedish brand also recently announced the establishment of its wholly-owned company in Viet Nam, named Ericsson Viet Nam Ltd Co.
According to Eddie Ahnam, general director of Ericsson Viet Nam Ltd Co, the company, which has a total investment capital of US$1.4 million, will increase its investment in line with the market’s growing demand.
Ericsson Viet Nam will provide the local market with equipment and network system solutions, services in network management and control, multimedia and systems integration and mobile phones. (VNS)
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The deal is part of the second phase of a VNPT project to expand services in the central region. In the first phase, begun in August 2006, Ericsson was awarded the equipment contract to add 600,000 fixed-line telephone subscribers.
Ericsson’s presence in Viet Nam dates back over 15 years when the Swedish-based firm started its first telephone network project in Viet Nam. Financial information about the latest deals has not been released.
In 2005, Ericsson previously won a bid on the Central Viet Nam Rural Telecom Network project, a communications development project financed by a loan from the Japan Bank for International Cooperation (JBIC) to expand phone service in remote, low-telephone penetration areas in 10 provinces in the central region
Meanwhile, the distinctly Swedish brand also recently announced the establishment of its wholly-owned company in Viet Nam, named Ericsson Viet Nam Ltd Co.
According to Eddie Ahnam, general director of Ericsson Viet Nam Ltd Co, the company, which has a total investment capital of US$1.4 million, will increase its investment in line with the market’s growing demand.
Ericsson Viet Nam will provide the local market with equipment and network system solutions, services in network management and control, multimedia and systems integration and mobile phones. (VNS)
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PetroVietnam earnings gush to all-time high
The Viet Nam National Oil and Gas Group (PetroVietnam) reported all-time record revenues last year, partly fuelled by higher than expected earnings from services, and planned to secure a 15% growth rate this year in a press conference on January 21 in Ha Noi.
“PetroVietnam notched up total revenues of 213.4 trillion VND (13.3 billion USD) last year, up 18.4% from a year earlier, and it was the first time that the group reached revenues surpassing the significant milestone of 200 trillion VND,” said group deputy general director Le Minh Hong.
Of the total revenue, about 8.8 billion USD came from exporting 15.7 million tones of crude oil. This was a record figure on the bank of sky-rocking oil prices on the global market.
However, export volumes remained lower than earlier expected as its output merely remained at 15.9 million tones of crude. The group had earlier estimated it would exploit up to 17.5 million tonnes, according to Hong.
Hong also stressed PetroVietnam’s tremendous growth in revenue from services, which hit roughly 50 trillion VND (3.1 billion USD) last year, double the figure of the previous year. Services include technical services, finance, and insurance, among others.
The group signed 13 oil and gas exploitation contracts, three of which were for exploitation abroad, in 2007.
It paid nearly 86 trillion VND (5.3 billion USD) into the State Budget, a year-on-year increase of 7.4%, and accounting for around 30% of total State revenues, Hong said.
To reach 15% growth in revenue this year, PetroVietnam planned to exploit and yield some 16 million tones of crude oil from exploitation in Viet Nam and abroad.
PetroVietnam general director Tran Ngoc Canh admitted that crude oil yields abroad, at just over 100,000 tonnes last year, were lower than expectations.
To secure sustainable growth and energy security, the group would not only warrantee exploiting oil and gas effectively at home but also strive to expand exploitation in oil fields abroad with 2-3 contracts anticipated to be inked this year, Canh said.
The group has managed to land oil and gas exploitation deals in Malaysia , Indonesia , Azerbaijan , Kazakistan , Iran , and Venezuela , Canh said. (VNA)
“PetroVietnam notched up total revenues of 213.4 trillion VND (13.3 billion USD) last year, up 18.4% from a year earlier, and it was the first time that the group reached revenues surpassing the significant milestone of 200 trillion VND,” said group deputy general director Le Minh Hong.
Of the total revenue, about 8.8 billion USD came from exporting 15.7 million tones of crude oil. This was a record figure on the bank of sky-rocking oil prices on the global market.
However, export volumes remained lower than earlier expected as its output merely remained at 15.9 million tones of crude. The group had earlier estimated it would exploit up to 17.5 million tonnes, according to Hong.
Hong also stressed PetroVietnam’s tremendous growth in revenue from services, which hit roughly 50 trillion VND (3.1 billion USD) last year, double the figure of the previous year. Services include technical services, finance, and insurance, among others.
The group signed 13 oil and gas exploitation contracts, three of which were for exploitation abroad, in 2007.
It paid nearly 86 trillion VND (5.3 billion USD) into the State Budget, a year-on-year increase of 7.4%, and accounting for around 30% of total State revenues, Hong said.
To reach 15% growth in revenue this year, PetroVietnam planned to exploit and yield some 16 million tones of crude oil from exploitation in Viet Nam and abroad.
PetroVietnam general director Tran Ngoc Canh admitted that crude oil yields abroad, at just over 100,000 tonnes last year, were lower than expectations.
To secure sustainable growth and energy security, the group would not only warrantee exploiting oil and gas effectively at home but also strive to expand exploitation in oil fields abroad with 2-3 contracts anticipated to be inked this year, Canh said.
The group has managed to land oil and gas exploitation deals in Malaysia , Indonesia , Azerbaijan , Kazakistan , Iran , and Venezuela , Canh said. (VNA)
Vinalines sets sail for 1 billion USD in 2008
The Viet Nam National Shipping Lines (Vinalines) is targeting 17 trillion VND (1 billion USD) in earnings this year, a year-on-year increase of 16 percent, the corporation announced last week.
Profit this year is projected at 950 billion VND (60 million USD), a 10% increase over last year.
The corporation plans to diversify and restructure to further mobilize capital for the construction of two major projects in Khanh Hoa province. Smaller projects in Hai Phong, Quang Ninh and Ba Ria-Vung Tau will also be carried out.
Vinalines spent a staggering 630 million USD on 30 new ships last year, a record for the corporation.
Despite the substantial cost involved, Vinalines will buy and build new ships so that the total dead-weight-tonne of its fleet reaches 2.6 million by year-end.
While poor weather and a 30-50% increase in the final price of ships were considered Vinalines biggest hurdles in 2007, other factors are predicted to help the corporation realize this year’s goals.
According to a recent Vinalines report, strong economic growth in Southeast Asia coupled with high demand from China and India present favourable conditions for shipping firms.
Last year, Vinalines earned 14.64 trillion VND while posting a profit of 861 billion VND, respective gains of 26 and 51% over 2006. Such impressive results saw Vinalines contribute 777 billion VND to the State budget last year. (VNA)
Profit this year is projected at 950 billion VND (60 million USD), a 10% increase over last year.
The corporation plans to diversify and restructure to further mobilize capital for the construction of two major projects in Khanh Hoa province. Smaller projects in Hai Phong, Quang Ninh and Ba Ria-Vung Tau will also be carried out.
Vinalines spent a staggering 630 million USD on 30 new ships last year, a record for the corporation.
Despite the substantial cost involved, Vinalines will buy and build new ships so that the total dead-weight-tonne of its fleet reaches 2.6 million by year-end.
While poor weather and a 30-50% increase in the final price of ships were considered Vinalines biggest hurdles in 2007, other factors are predicted to help the corporation realize this year’s goals.
According to a recent Vinalines report, strong economic growth in Southeast Asia coupled with high demand from China and India present favourable conditions for shipping firms.
Last year, Vinalines earned 14.64 trillion VND while posting a profit of 861 billion VND, respective gains of 26 and 51% over 2006. Such impressive results saw Vinalines contribute 777 billion VND to the State budget last year. (VNA)
Viet Tien introduces high-fashion men’s line
Viet Tien Garment Export-Import Corporation (VTEC), the largest garment producer in Vietnam, has introduced two new luxury male fashion lines under Italian and American labels in HCMC.
New products under the Italian label San Sciaro, which are aimed at high-powered businessmen, include shirts, khaki trousers, T-shirts and suits. Products under the American label Manhattan include shirts, western trousers and suits. The Manhattan trademark is a part of Perry Ellis International and Perry Ellis International Europe.
According to VTEC, the San Sciaro label represents nobility, experience, power and prestige and will bring new, fashionable styles to Vietnamese businessmen.
Viet Tien expanded their franchise ownership in 2007 to include the Manhattan label, which is well known for high-quality office apparel.
The company will develop a full line of clothing under the Manhattan brand. Viet Tien will initially concentrate on designing dress shirts, which will be owned by Perry Ellis International and Perry Ellis International Europe. Perry Ellis is a leading designer, distributor and licensor of high-quality men’s and women’s apparel, accessories, and fragrances.
The agreement between the two fashion houses also covers knit and woven sport shirts, dress and casual pants, shorts, sport coats, suits, suit separates, sweaters, outerwear and accessories like neckties, hosiery, underwear and sleepwear. The line will be distributed by Viet Tien’s extensive network throughout Vietnam.
Viet Tien owns 12 enterprises and has stakes in 17 companies under the Vietnam Textile and Garment Group.
General director Nguyen Dinh Truong reported that last year VTEC earned VND2.7 billion in revenue, with US$263 million from exports. The corporation currently employs 21,600 people. (Saigon Times)
New products under the Italian label San Sciaro, which are aimed at high-powered businessmen, include shirts, khaki trousers, T-shirts and suits. Products under the American label Manhattan include shirts, western trousers and suits. The Manhattan trademark is a part of Perry Ellis International and Perry Ellis International Europe.
According to VTEC, the San Sciaro label represents nobility, experience, power and prestige and will bring new, fashionable styles to Vietnamese businessmen.
Viet Tien expanded their franchise ownership in 2007 to include the Manhattan label, which is well known for high-quality office apparel.
The company will develop a full line of clothing under the Manhattan brand. Viet Tien will initially concentrate on designing dress shirts, which will be owned by Perry Ellis International and Perry Ellis International Europe. Perry Ellis is a leading designer, distributor and licensor of high-quality men’s and women’s apparel, accessories, and fragrances.
The agreement between the two fashion houses also covers knit and woven sport shirts, dress and casual pants, shorts, sport coats, suits, suit separates, sweaters, outerwear and accessories like neckties, hosiery, underwear and sleepwear. The line will be distributed by Viet Tien’s extensive network throughout Vietnam.
Viet Tien owns 12 enterprises and has stakes in 17 companies under the Vietnam Textile and Garment Group.
General director Nguyen Dinh Truong reported that last year VTEC earned VND2.7 billion in revenue, with US$263 million from exports. The corporation currently employs 21,600 people. (Saigon Times)
Metro Cash & Carry reaches Binh Duong
Binh Duong on January 21 approved in principle the Metro Cash & Carry Viet Nam’s 15 million Euro project to open the biggest whole-sale supermarket in the industrial park-booming province.
The company said it has laid much hope on this dynamic southern economy, especially its consumer market.
The construction is expected to kick off within this year.
Binh Duong provinces borders Ho Chi Minh City to the south and the west.
The company said it has laid much hope on this dynamic southern economy, especially its consumer market.
The construction is expected to kick off within this year.
Binh Duong provinces borders Ho Chi Minh City to the south and the west.
Stars, balls presented to honour most distinguished enterprises
The Bank for Investment and Development of Viet Nam (BIDV), Bao Tin Minh Chau Jewelry, Vinpearl Tourism and Trade Co, Traphaco Pharmaceuticals and FPT were among the distinguished enterprises honoured in an awards ceremony yesterday at My Dinh National Convention Centre in Hanoi.
"They contributed to the development of the domestic economy over the past year and helped attract more overseas capital into the Vietnam market," said Nguyen Huu Tang, head of the judges' panel. "They deserved the award."
The awards, sponsored by BIDV, are an annual event to help discover business talent and support it for further development, said Tang.
"The ceremony is also a place to gather owners of well-known domestic trademarks that present a good image of Vietnam," he said.
The judges' panel chose 93 enterprises, including 50 entrepreneurs and 43 products and services, for three levels of awards, the Viet Nam Star for distinguished entrepreneurs, the Golden Ball for distinguished enterprises, and the Viet Nam Quintessence award for the best products and services.
Pham Diu Hien, director of Binh An Seafood Processing Co, one of the winners, said that the award would help raise the prestige of the company on the domestic market as well as create opportunities for greater access to global markets.
"Thanks to the award today, we understand how important we are in the local economy and we will try to have an even more developed business next year," Hien said.
Mai Huong Noi, a representative from Vincom, said that WTO accession and integration were a good chance for Vietnamese firms to upgrade their businesses and related systems.
"Encouragement from the Government and the advantages of WTO accession should create more distinguished enterprises in the near future," Noi said. (VNS)
"They contributed to the development of the domestic economy over the past year and helped attract more overseas capital into the Vietnam market," said Nguyen Huu Tang, head of the judges' panel. "They deserved the award."
The awards, sponsored by BIDV, are an annual event to help discover business talent and support it for further development, said Tang.
"The ceremony is also a place to gather owners of well-known domestic trademarks that present a good image of Vietnam," he said.
The judges' panel chose 93 enterprises, including 50 entrepreneurs and 43 products and services, for three levels of awards, the Viet Nam Star for distinguished entrepreneurs, the Golden Ball for distinguished enterprises, and the Viet Nam Quintessence award for the best products and services.
Pham Diu Hien, director of Binh An Seafood Processing Co, one of the winners, said that the award would help raise the prestige of the company on the domestic market as well as create opportunities for greater access to global markets.
"Thanks to the award today, we understand how important we are in the local economy and we will try to have an even more developed business next year," Hien said.
Mai Huong Noi, a representative from Vincom, said that WTO accession and integration were a good chance for Vietnamese firms to upgrade their businesses and related systems.
"Encouragement from the Government and the advantages of WTO accession should create more distinguished enterprises in the near future," Noi said. (VNS)
IT firms wake up
2007 was an up-and-down year for Vietnamese IT companies. The IT market became bigger and fluctuated very rapidly in the year, greatly influenced IT firms.
M&A (merge & acquisition) is normal thing of the international IT circle but it was really strong in Vietnam in 2007. Because of M&A, some wholly Vietnamese-owned companies suddenly became Japanese or Israelis ones. Some small programming groups became teams of Japanese firms. Some foreign companies established their subsidiaries in Vietnam. For example, GATe Technology was born from a joint venture between GCS and some French firms. TMA Solutions cooperated with Danish and Swiss partners to establish IT service providing subsidiaries.
The local IT circle is keeping an eye on US-based Computer Sciences Corporation’s (CSC) acquisition of First Consulting Group, Inc, the mother group of FCG Vietnam early this year.
CSC is a provider of applications, systematic integration, software processing services while FCG is specialised in consulting and development with 2,500 staffs, including over 600 in Vietnam. It is a good news for Vietnam’s IT industry if FCG Vietnam joins CSC’s contingent of 87,000 workers in 92 countries, with 2007 revenue of $14.9 billion in 2007.
The forerunner of FCG Vietnam was a small company named Tan Tien, which was set up by a group of students from the Electronic Faculty of HCM City University of Technology. Tan Tien named was replaced by Paragon Vietnam when some Vietnamese American from Paragon Solutions Inc. came to Vietnam to seek partner. FCG Inc. then bought Paragon and Paragon Vietnam became FCG Vietnam.
M&A affairs have brought Tan Tien to the world. Despite changes, this firm is focusing on the local market, rather than outsourcing activities.
The negotiation for the merging of SilkRoad and Global CyberSoft, which were invested by the same investment fund, sometimes lured the public. But finally, Harvey Nash, a British software processing and employment consulting group, bought SilkRoad. According to Harvey Nash, they want to develop software in Asia and use the high-quality IT human resources of Vietnam to serve its business in Europe and the US.
Meanwhile, small companies coordinated with each other to become stronger or became partners of big groups. These changes made the local IT market nearer to the sensitive environment of the world, which has many opportunities and challenges. Anyways, experts said this is positive move, which can help form big IT companies in Vietnam.
The failure of Project 112 left a big lesson to the IT sector. That’s the awareness of where the real value of IT is: in information or in technology? IT firms begin to realise the core value of information, not technology. The concept about information-based development is spreading and it is considered the most positive sign in the IT world last year.
IT firms expect the change of thinking of management agencies and businesses about the urgent change of administration model, which use IT as support tools for system reforms. (VNeconomy)
M&A (merge & acquisition) is normal thing of the international IT circle but it was really strong in Vietnam in 2007. Because of M&A, some wholly Vietnamese-owned companies suddenly became Japanese or Israelis ones. Some small programming groups became teams of Japanese firms. Some foreign companies established their subsidiaries in Vietnam. For example, GATe Technology was born from a joint venture between GCS and some French firms. TMA Solutions cooperated with Danish and Swiss partners to establish IT service providing subsidiaries.
The local IT circle is keeping an eye on US-based Computer Sciences Corporation’s (CSC) acquisition of First Consulting Group, Inc, the mother group of FCG Vietnam early this year.
CSC is a provider of applications, systematic integration, software processing services while FCG is specialised in consulting and development with 2,500 staffs, including over 600 in Vietnam. It is a good news for Vietnam’s IT industry if FCG Vietnam joins CSC’s contingent of 87,000 workers in 92 countries, with 2007 revenue of $14.9 billion in 2007.
The forerunner of FCG Vietnam was a small company named Tan Tien, which was set up by a group of students from the Electronic Faculty of HCM City University of Technology. Tan Tien named was replaced by Paragon Vietnam when some Vietnamese American from Paragon Solutions Inc. came to Vietnam to seek partner. FCG Inc. then bought Paragon and Paragon Vietnam became FCG Vietnam.
M&A affairs have brought Tan Tien to the world. Despite changes, this firm is focusing on the local market, rather than outsourcing activities.
The negotiation for the merging of SilkRoad and Global CyberSoft, which were invested by the same investment fund, sometimes lured the public. But finally, Harvey Nash, a British software processing and employment consulting group, bought SilkRoad. According to Harvey Nash, they want to develop software in Asia and use the high-quality IT human resources of Vietnam to serve its business in Europe and the US.
Meanwhile, small companies coordinated with each other to become stronger or became partners of big groups. These changes made the local IT market nearer to the sensitive environment of the world, which has many opportunities and challenges. Anyways, experts said this is positive move, which can help form big IT companies in Vietnam.
The failure of Project 112 left a big lesson to the IT sector. That’s the awareness of where the real value of IT is: in information or in technology? IT firms begin to realise the core value of information, not technology. The concept about information-based development is spreading and it is considered the most positive sign in the IT world last year.
IT firms expect the change of thinking of management agencies and businesses about the urgent change of administration model, which use IT as support tools for system reforms. (VNeconomy)
Viet Nam attends agricultural exhibition in Berlin
Viet Nam has joined more than 1,500 representatives from 52 countries to attend an agricultural exhibition in Berlin , Germany .
The Vietnamese businesses display p alm-leaf conical hat s, traditional foods, fruits and wine, with hats and blue dragon fruits at four stalls drawing special attention from visitors.
Vu Chi Tho, owner of a Vietnamese restaurant set up the exhibition, said the event offers a good chance not only for business operations but also for promoting Vietnamese culture.
The exhibition, which is expected to draw around 400,000 visitors, will run through January 27.
The Vietnamese businesses display p alm-leaf conical hat s, traditional foods, fruits and wine, with hats and blue dragon fruits at four stalls drawing special attention from visitors.
Vu Chi Tho, owner of a Vietnamese restaurant set up the exhibition, said the event offers a good chance not only for business operations but also for promoting Vietnamese culture.
The exhibition, which is expected to draw around 400,000 visitors, will run through January 27.
EU gives access to 25 more seafood exporters
The European Commission (EC) has recognized 25 more Vietnamese seafood companies as meeting requirements to export products to the EU. The newly recognized seafood companies will be able to export to the EU as of January 31, 2008.
With the new decision, the total number of Vietnamese seafood companies eligible to export to the EU has reached 269.
The 25 newly recognized companies include two canned food processors and 23 frozen product exporters.
Problems with food hygiene and antibiotic residue were the main reasons why the EU had previously rejected seafood imports from Vietnam.
In 2007, the EC’s Health and Consumer Protection Directorate sent two inspection delegations to Vietnam to examine the implementation of the program on controlling toxic chemical substances in aquaculture (January 2007), and examine the control over seafood farming and processing sanitation (September 2007).
The EC’s inspection tours led to the commission’s decision that actions taken by the Vietnamese side to ensure the safety and sanitation of seafood products have made Vietnam’s seafood eligible for export to the EU.
With more than 500mil consumers, the EU remains one of Vietnam’s biggest seafood markets, which consumes 39% of total exports. In 2007, Vietnam exported 274,700 tons of seafood to the EU, bringing in $912mil, an increase of 29% over the previous year.
Commercial affair divisions under Vietnamese embassies in EU countries have forecast that the EU’s consumption of seafood products will increase by 5-8% this year, which will make the seafood price increase by 5-7%. Higher demand will bring more opportunities to Vietnamese exporters. However, analysts warn that Vietnam will have to compete with North European countries, Russia, Ecuador, China, Thailand, India and Canada for EU market share.
While the supply of shrimp to other parts of the world has been decreasing, the supply to the EU did not see any considerable decrease. Vietnam’s frozen shrimp products now hold some 4% of the EU market share.
It is expected that Vietnam’s seafood export turnover will reach $1bil in 2008, and the EU will remain Vietnam’s biggest market.
The EU is also a part of the world that imports most of the global supply of seafood. In 2006, the 25 members of the EU consumed $38.9bil worth of seafood, an increase of 10.7% compared to 2005. (VNN)
With the new decision, the total number of Vietnamese seafood companies eligible to export to the EU has reached 269.
The 25 newly recognized companies include two canned food processors and 23 frozen product exporters.
Problems with food hygiene and antibiotic residue were the main reasons why the EU had previously rejected seafood imports from Vietnam.
In 2007, the EC’s Health and Consumer Protection Directorate sent two inspection delegations to Vietnam to examine the implementation of the program on controlling toxic chemical substances in aquaculture (January 2007), and examine the control over seafood farming and processing sanitation (September 2007).
The EC’s inspection tours led to the commission’s decision that actions taken by the Vietnamese side to ensure the safety and sanitation of seafood products have made Vietnam’s seafood eligible for export to the EU.
With more than 500mil consumers, the EU remains one of Vietnam’s biggest seafood markets, which consumes 39% of total exports. In 2007, Vietnam exported 274,700 tons of seafood to the EU, bringing in $912mil, an increase of 29% over the previous year.
Commercial affair divisions under Vietnamese embassies in EU countries have forecast that the EU’s consumption of seafood products will increase by 5-8% this year, which will make the seafood price increase by 5-7%. Higher demand will bring more opportunities to Vietnamese exporters. However, analysts warn that Vietnam will have to compete with North European countries, Russia, Ecuador, China, Thailand, India and Canada for EU market share.
While the supply of shrimp to other parts of the world has been decreasing, the supply to the EU did not see any considerable decrease. Vietnam’s frozen shrimp products now hold some 4% of the EU market share.
It is expected that Vietnam’s seafood export turnover will reach $1bil in 2008, and the EU will remain Vietnam’s biggest market.
The EU is also a part of the world that imports most of the global supply of seafood. In 2006, the 25 members of the EU consumed $38.9bil worth of seafood, an increase of 10.7% compared to 2005. (VNN)
Economic, Infrastructure
A Vietnamese software processor, NCS Solutions, has established NCS Japan, its overseas subsidiary, to design, manufacture and trade software in Japan.
This is a wholly Vietnamese owned company, based in Tokyo. Its 10 year plan is to specialize in designing, producing and trading software, digital content products, train software engineers and provide online value added consulting services and IT solutions. The firm aims to earn revenue of US$2 million this year.
NSC Japan has legal capital of $200,000 and has 20 employees. This is the second Vietnamese software company in Japan; the other is FPT Software Japan, a subsidiary of FPT Group.
It is said that the appearance of Vietnam’s second software company in Japan is a good sign because it will contribute to realizing the goal of $800 million in revenue from software exports. (VNE)
This is a wholly Vietnamese owned company, based in Tokyo. Its 10 year plan is to specialize in designing, producing and trading software, digital content products, train software engineers and provide online value added consulting services and IT solutions. The firm aims to earn revenue of US$2 million this year.
NSC Japan has legal capital of $200,000 and has 20 employees. This is the second Vietnamese software company in Japan; the other is FPT Software Japan, a subsidiary of FPT Group.
It is said that the appearance of Vietnam’s second software company in Japan is a good sign because it will contribute to realizing the goal of $800 million in revenue from software exports. (VNE)
Vietnamese entrepreneurs in Russia hold congress
The Association of Vietnamese Entrepreneurs in Russia (VINAENTRASSCO) held its fifth congress in Moscow on January 19.
Delegates to the congress worked out plan for the coming period, which aimed at consolidating the community of Vietnamese entrepreneurs in Russia , making it a bridge to boost economic, tourism, and investment cooperation between Viet Nam and Russia .
The association also aims to support Vietnamese entrepreneurs’ legal interests in the Russian market, encourage its members to abide by the resident country’s laws, and increase investment activities in Viet Nam and Russia .
The congress elected an executive board of 17 members with Tran Dang Chung, CEO of Milton Company, to be the association President.
Delegates to the congress worked out plan for the coming period, which aimed at consolidating the community of Vietnamese entrepreneurs in Russia , making it a bridge to boost economic, tourism, and investment cooperation between Viet Nam and Russia .
The association also aims to support Vietnamese entrepreneurs’ legal interests in the Russian market, encourage its members to abide by the resident country’s laws, and increase investment activities in Viet Nam and Russia .
The congress elected an executive board of 17 members with Tran Dang Chung, CEO of Milton Company, to be the association President.
HCM City hosts construction and security exhibitions
More than 300 domestic and foreign businesses are showcasing their products at the two exhibitions namely the Build AsiaPac Vietnam 2008 and the Security & Safety Vietnam 2008 at the Saigon Exhibition and Cenvention Centre.
On display at more than 200 booths of the Build AsiaPac Vietnam 2008 are latest civil engineering technology and materials, including construction materials and facilities, lighting equipment, paints, maintenance services and water pipe technology.
The Security & Safety Vietnam 2008, the first of its kind in Viet Nam , exhibits danger detected and equipment as well as rescue and property protection facilities.
The two exhibitions were jointly opened on Jan. 20 by the Viet Nam National Trade Fair and Advertising Joint Stock Company (Vinaxad Saigon) and the Conference and Exhibition Management Services Pte Ltd (CEMS) of Singpore.
The three-day exhibitions are expected to welcome more than 10,000 visitors.
On display at more than 200 booths of the Build AsiaPac Vietnam 2008 are latest civil engineering technology and materials, including construction materials and facilities, lighting equipment, paints, maintenance services and water pipe technology.
The Security & Safety Vietnam 2008, the first of its kind in Viet Nam , exhibits danger detected and equipment as well as rescue and property protection facilities.
The two exhibitions were jointly opened on Jan. 20 by the Viet Nam National Trade Fair and Advertising Joint Stock Company (Vinaxad Saigon) and the Conference and Exhibition Management Services Pte Ltd (CEMS) of Singpore.
The three-day exhibitions are expected to welcome more than 10,000 visitors.
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