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Contractors forced to register imported equipment, materials

The type, quantity and origin of imported equipment and materials must be in accordance with contracts. Lists must be registered annually or for the entire project duration.

Material shortage causes headache to cashew nut exporters

In principle, Vietnam can import materials from other countries to process domestically to fulfill export contracts. However, according to Hoc, due to the fighting situation in the Ivory Coast, the main supplier of raw materials to Vietnam; enterprises would only be able to import cashew nut materials after May 15. In 2010, Vietnam purchased 217,000 tons of cashew nuts from the Ivory Coast and is planning to import the same volume this year from the country.

Exports to Japan remain strong

Contrary to initial forecasts that Viet Nam's exports to Japan have dropped sharply after the latter was hit by an earthquake and tsunami, Vietnamese companies, especially seafood exporters, are very busy completing contracts to export to Japan, according to Ly Van Thuan, general secretary of the Ca Mau Province's Association of Seafood Exporters and Processors. Orders from Japanese partners to import Vietnamese commodities, including food, rose sharply in recent days, with prices still at high levels, Thuan said.

$1.6bn Golden Hills closer to reality

According to the developer, the entire project will be completed in 2014. The developer signed contracts with US’s Skidmore, Owings & Merrill LLP and Singapore’s CICADA Design Pte Limited for designing the project.

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.

Rice export: MOIT and VFA still take no actions

Truong Thanh Phong, Chair of VFA, said that with the demand and the rice price on the rise, Vietnamese enterprises would not meet any difficulties in selling rice. Therefore, it is not advisable to sign big contracts right at this moment, because the prices may increase in the near future. The information that the rice output in 2011 will increase (25 million tons of rice), should press rice exporters to bargain.

January rice exports hit record

Rice exporters had by the end of January registered to ship 1.5 million tonnes of rice on contracts, a year-on-year increase of 15.74 percent, the VFA said at a meeting with its member firms in Ho Chi Minh City on Feb. 10. They also registered a high volume on contracts to export rice in the first month of this year, mainly with Malaysia and Indonesia.

Vinashin signs contracts for building 16 new ships in 2011

In the plan for 2011, the group has valid contracts with 87 ships worth $1.387 billion; contracts for building 16 new ships have recently been signed with value of $377 million. In addition, Vinashin will further promote ship-repairing contracts as this is a favourable market and the efficiency is generally higher than shipbuilding. The group will focus on investing into the remaining items of the facilities for support industries, improving product quality to meet the requirements of building ships for export, supplementing equipments and enhance the capacity of the shipyards.

Textile industry shows rapid development

While in other industries many are still waiting for orders for the new year, the textile industry is already busy working on orders for up until the second quarter of 2011. They said that they have to carefully consider signing contracts with their partners for fear that the prices will increase by 10 to 15 percent over 2010.

Hill int’l. announces Vietnam, rail contracts

The Marlton-based project management firm said a three-year contract worth about $16.9 million will have it managing construction of a 1,700-acre amusement park in southern Vietnam. The $600 million Happyland Theme Park and KT Entertainment City is projected to open in 2014.

High interest rates exaggerate enterprises’ burdens

“Foreign partners are very careful in price negotiations. Formerly, we used lending rates of around 12-13 per cent per year when negotiating export contracts. With current [lending] rates, we cannot win the export contracts,” Phuoc Long Textile’s Business Department head Bui Thi Kim Phuong said.

VinaCapital sees strong property demand from Vietnam middle class

In an update, the group said that during the last six months a total of 481 sales contracts and reservations were recorded at projects in Danang, Nha Trang and HCM City, representing total contracts and reservations worth over $58 million.

Garment firms expect higher demand

Saigon 3 Garment Joint Stock Company, for instance, has signed orders worth a total of US$50 million to export millions of jeans to Japan in the first half of the year. Thu Hong from the company’s sales department said export contracts in the first half of 2011 increased by 20 per cent both in volume and value compared to the same period last year.

Contracts signed at Int’l Agriculture Fair total 550 bln VND

The fair’s organising board said that the fair has helped farmers get access to latest scientific achievements in production. A number of retail businesses came to the fair for signing orders and open hundreds of new distribution agents, the board said.

Maintenance contract for Nhon trach 1 power plant inked

PetroVietnam Power Technical Services Joint Stock Co (PV Power Services) signed two contracts for providing long-term maintenance services for Nhon Trach 1 Power Plant on December 3, 2010.


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