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The Lord Mayor of London, Alderman Ian Luder, will visit Vietnam, including Hanoi and Ho Chi Minh City, from 2-6 July to support UK financial institutions in Vietnam, and to promote the development of Vietnam’s capital markets. In Hanoi, the Lord Mayor will meet Vietnam’s Prime Minister, the Minister of Finance, the governor of Vietnam’s Central Bank, the Chairman of Hanoi People's Committee and the CEO of the Hanoi Stock Exchange. He arrives in Ho Chi Minh on July 6 to call on the chairman of the city People’s Committee, Le Hoang Quan, and Ho Chi Minh City Stock Exchange director Tran Dac Sinh. The Lord Mayor will share his experience on the building of a financial services centre at a round-table forum with UK consultant and financial firms, and the HCMC Steering Committee on developing HCMC to become a regional and international financial centre.
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Singapore-based Global Process Systems Pte. has signed a $ 42.4 million contract with Vietnamese-Russian oil joint venture Vietsovpetro to supply a gas-compressing module to the joint venture, Vietnam's Ministry of Natural Resources and Environment said Tuesday. The module will be used to build a system to collect associated gas at the Rong-Doi Moi oil field off Vietnam's southern coast, the ministry said in a statement. Vietsovpetro is building the system for the state-run Vietnam Oil and Gas Group, or PetroVietnam. The ministry said PetroVietnam has to burn away 150,000 cubic meters of associated gas from the field a day. Under the contract signed Monday, Global Process Systems will deliver the module to Vietsovpetro in late December 2010.
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Vietnam's Ministry of Natural Resources and Environment said the country's first satellite image receiving station will be inaugurated in early July, the Vietnam News Agency reported Tuesday. The station for the satellite image receiver is located in an outlying district of the capital city Hanoi, said Nguyen Xuan Lam, Director of the ministry's National Remote Sensing Center. It is built at a cost of nearly 20 million euros (about 28 million U.S. dollars), with fund from France's loans, said Lam. The station will process images taken by satellite to update land and forest information and locate the burned-down or destroyed forest areas, said the agency.
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Foreign investors were net buyers of VND163 billion ($9.3 million) of Vietnamese stocks Tuesday out of a total VND1.35 trillion traded, the Ho Chi Minh Stock Exchange said. Volume traded totaled 37.8 million shares, with foreigners accounting for 15.5% of that volume, the stock market operator said. In the month to date, foreign investors have been net sellers of VND188.2 billion of Vietnamese stocks.
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Vietnam cotton production will fall 56% this year because farmers switched to more profitable crops, including corn, sweet potatoes and soybeans, the US Department of Agriculture said. Cotton output will drop to 2,570 tons in the marketing year that ends July 31, down from 5,880 tons a year earlier, as harvest area declines to 5,210 hectares (12,874 acres) from 12,500 hectares, according to a report posted last week on the USDA website. Production will rise to 2,960 tons next year, it said. Imports in the current crop year will probably fall 8.1 percent to 230,000 tons from 250,150 tons a year earlier, as the global recession hurts demand from the garment and textile industry, the report said. The price has fallen 29% in the past year as global consumption dwindled.
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International Consumer Products (ICP), a leading FMCG firm in Vietnam and the authorized licensee of Orangina in Asia, has launched two new drink brands in Vietnam with Red Brand Builders. The launch of the two products, Xtra, an energy drink, and TeaFres Herbal, a ready-to-drink tea, aims to tap into a growing trend in the country for healthy beverages. Red was tasked with the development of both the new brands’ identities and packaging creations. Chris Elkin, Red MD, said: "Vietnamese consumers are becoming increasingly brand-conscious and discerning. With the launch of new brands every day, competition on the shelf is becoming fierce. The right brand identity and packaging is critical to ensure brand positioning is quickly understood and encourages maximum product trial." Nghi Nguyen, brand manager at ICP, commented that “innovation and understanding of consumer needs” were fundamental in the market.
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“Make-up in Vietnam to 2012” - a new market research report has been released on companiesandmarkets.com. This databook is a detailed information resource covering all the key data points on Make-up in Vietnam. It includes comprehensive value volume segmentation and market share data. The databook supplies actual data to 2007 and full forecasts to 2012, containing information on 4 categories: Eye make-up,Face make-up,Lip make-up and Nail make-up, providing market value, volume, expenditure and consumption data by market, category and segment, including company and brand share data by categories. The market for Make-up in Vietnam increased between 2002-2007, growing at an average annual rate of 4.7%. The leading company in the market in 2007 was L´Oreal S.A. The second-largest player was Revlon, Inc. with Del Laboratories Inc in third place.
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Delcam will demonstrate its complete family of CAM software at the MTA Vietnam exhibition to be held in Ho Chi Minh City from 8th to 11th July. The complete range comprises PowerMILL for high-speed and five-axis machining, FeatureCAM for feature-based programming, PartMaker for Swiss-type lathes and turn-mill equipment, and ArtCAM for engraving and routing. Together, these programs comprise the world’s most comprehensive range of CAM software from a single suppler. This broad coverage is one of the reasons why Delcam was again ranked as the world’s leading specialist supplier of NC software and services in the recent report by US analysts Cimdata.
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The Hanoi Savico Joint-stock Company expects its plaza project covering 60,000 sq.m. would be put into operation by late 2011, becoming the largest of its kind so far in Vietnam. The Savico Plaza Hanoi, construction of which started on June 26 in Hanoi ’s Long Bien district, has been designed to consist of a hypermarket, European and Asian food restaurants, fast food courts, cafes, entertainment spaces and cinemas.
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Eight projects with a total capital of VND 700 billion have been licensed to invest in the industrial zones in Ninh Binh province in the past six months. Out of these investments, the foreign direct investment (FDI) accounts for US$30 million. The amount is invested in such fields as: technology, cement, metal, footwears, textiles and others. These projects are being deployed so as to have them put into operation soon.
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The country has finished harvesting the 2009 winter-spring rice with an output of 18.6 million tons, up 312,000 tons compared to the last crop, according to the Ministry of Agriculture and Rural Development. The average yield was also increased by 0.1 quintal a hectare to 60.9 quintals a hectare. In the northern provinces, thanks to the favorable weather conditions, the natural water source is enough for the cultivation of 1.15 million hectares of winter-spring rice. The output is estimated to reach 6.8 million hectares, up 120,000 tons over the previous crop. Because of the increasing cultivated area, the output of the Cuu Long river delta also went up by 23,000 tons to 9.8 million tons against the previous crop.
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An alliance between a Japanese and a Vietnamese consultancy firm has been chosen to study the feasibility of a high-speed railway project to link Hanoi and Ho Chi Minh City. State-run Vietnam Railways, the investor, has tasked Japan’s Tonichi Engineering Consultants Inc. and Hanoi-based Railway Construction and Investment Consultant JSC consulting firms to assess the US$33 billion railway plan in one month. The 1,630-kilometer high-speed railway will be built with aid from Japan. After analyzing three of the world’s most advanced high-speed railways – Japan’s Shinkansen, France’s TGV and Germany’s ICE – the project manager Vietnam-Japan Consulting Joint Venture suggested the use of the Shinkansen “bullet-train” model. The track, with a wider gauge of 1.45 meters, will reduce the train journey between Hanoi and HCMC to less than 10 hours from more than 30 hours now with speeds of up to 360 kilometers per hour.
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