Vietnam may lose Buon Ma Thuot coffee brand

The problem lies in the fact that a Chinese company has registered the trademark “Buon Ma Thuot” as the exclusive trademark in China. Experts have warned that the Chinese company may take a further step by registering the Buon Ma Thuot trademark all over the world. Vietnam urged to take legal proceedings on Buon Ma Thuot

Mazut oil imports won’t be tax-exempt, says Deputy PM

According to the Ministry of Finance, the Hiep Phuoc Power Company imports mazut oil for electricity production purposes at its plants, the oil not being for sale on the domestic market which necessitates its taxation. The Ministry of Finance added that, as tax exemptions would only be allowed in cases of extreme necessity, the Hiep Phuoc Power Company would still have to pay a tax of VND300 per kilo for imported mazut oil.

Steel industry targets energy saving opportunities

The application of waste gas in drying scrap steel as well as the use of compressed natural gas (CNG) to replace fuel oil in steel billet blast furnaces with a capacity of 80 tonne/hour has helped the Southern Steel Company (SSC) reduce energy consumption by 30kWh/tonne of product and fuel costs by VND110,000/tonne.

Gold soars by VND1million a tael in Vietnam

Saigon Jewellery Company, the biggest gold shop in Vietnam, bought gold at VND47.800 million and sold at VND48.100 million at 9:17 am local time in Ho Chi Minh City on September 2. Hanoi-based Bao Tin Minh Chau Jewellery Company purchased SJC-branded gold at VND47.7 million and sold at VND48.45 million at the same time.

Capital-thirsty property developers forced to sell

According to Nguyen Hong Phuc, general director of Nha Viet Investment and Construction Joint Stock Company, such changes of ownership were common in the first quarter of this year, though transaction details were often kept secret, especially if sellers were small businesses facing a shortage of capital. Since the second half of 2010, as the real estate market has taken a downturn, there are many such businesses.

Kyocera plans electronic parts factory in Vietnam

Kyocera Corp. President Tetsuo Kuba was quoted as saying at a news conference in Osaka on April 27 that the company will start the construction by the end of this year as it looks to commence the plant’s operations in late 2012. The plant is designed to cover about 400,000 sq. m in Hanoi’s suburb area, to be on a par with Kyocera's largest overseas factory in China.

SGP cooperates with Japanese investors

Under the agreement, Japan’s Daio Paper Company (Daio) and BridgeHead Investment Fund under the Development Bank of Japan (DBJ) will hold a 38 percent stake in SGP and have roadmaps to continue investment in the company.

Inspectors haul up coal company for wrongdoings

Vinacomin, as the company is known, owes back taxes of nearly 202 billion dong (US$9.6 million) it should have paid over the last several years in the form of resources tax, income tax, value‐added tax, and export tax.

Banks rush to set up offshoots

In the last shareholder meeting, VietABank said it would establish a number of affiliated companies such as property trading and services companies, banking service providers and especially financial investment company.

Rice price to be kept stable

Truong Thanh Phong, general director of Vinafood 2, said the company would build one more warehouse to add to the one in Binh Chanh District which has a capacity of 4,000-5,000 tonnes. It also has a warehouse each in Long An and Tien Giang Provinces that will supply rice to the City in an emergency.

Inflation hits retail prices

Bui Tien Hung, deputy general director of Viet Hung Urban Development and Investment Joint Stock Company, said his company wanted to apply a fluctuating price that could see buyers have to shell out more money if the CPI rises dramatically. That meant prices determined at the time of registration with sellers, could fall or rise after contracts are signed.

Vietnam PM approves charters of Vinalines and Vinacafe

The prime minister signed Decision No 476/QD-TTg approving Vinalines to transform into a state-owned one-member limited company with a chartered capital at 8.09 trillion dong till June 25, 2010.

Dung Quat oil refinery resumes operation

The information was released by Nguyen Hoai Giang, General Director of the Binh Son Petro-chemical Refinery Company, a subsidiary of the Vietnam National Oil and Gas Group (PetroVietnam).

Japan-styled Zen resort makes debut

The Thang Long Xanh Investment Company, an affiliate of Archi Group launched Zen Resort project, a Japan-styled resort complex in Hanoi on March 5.

Vinamilk deals with European partners to improve milk quality for children

On March 1, Vietnam Milk Joint-stock Company (Vinamilk) signed a cooperative deal with DSM Group, Lonza Company (Swiss) and Chr. Hansen Grop, Denmark on research and nutrition science application to developing specific nutritional products for Vietnamese children.

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