Dak Lak: honey exports reach over US$20 million

Honey products were exported to the US, Canada, Japan and the Republic of Korea. Notably, the US imported 80 percent of the honey products from Dak Lak province. In 2011, the company plans to explore new markets, such as Middle East and North America.

Bike shortage leads to the scratching of heads

According to Tetsuya Kawahara, senior chief of the Honda Vietnam’s Motorbike Sales Department, the company had sold nearly 6,000 PCX units in the local market. “PCX sales volume reached more than 2,000 units per month. This is really a good record [for the firm],” Kawahara said.

Construction on Song Chay 5 hydropower plant started

Vu Khac Tiep, the company’s chair of management board revealed that Song Chay 5 hydropower plant had two turbines with total designed capacity of 16MW. The total investment capital for this project was estimated at about 400 billion dong.

Italian Co to receive ship made in Viet Nam

This is the first in series of four vessels the Vietnamese firm has built for the Italian company. The carrier is the first of its kind made in Viet Nam. It is 104 metres long, 16.4 metres wide and 8.4 metres deep. It has a draft of 7.2 metres.

Phu Yen calls for investment in 24 large projects

Businesses pledged to invest in some large projects in Nam Phu Yen economic zone and Dong Bac Song Cau industrial park. Pham Dinh Cu, Chairman of the Phu Yen Provincial People’s Committee, handed the investment licenses to the Hiep Hoa Phat company, the contractor of Hoa Tam industrial park with a total capital of VND10 trillion.

Will FIEs continue producing in Vietnam or shift to sell imports?

In late November 2010, at a meeting with the press to introduce products and business strategies in ASEAN countries, including Vietnam, Shigenori Tokumitsu, Deputy President of Visual Products Company belonging to Toshiba Group, said that it is highly possible that the group will relocate its LCD TV production base to Indonesia instead of Vietnam.

First Forestry Festival to be held in Vietnam

The information was released at a press briefing in Quy Nhon City on December 20 by the Ministry of Agriculture and Rural Development, the Ministry of Industry and Trade, the Ministry of Information and Communications, the Ministry of Culture, Sports and Tourism, the Vietnam Timber and Forest Product Association, the Binh Dinh provincial People’s Committee and the Dat Vo Media and Advertising Company.

Economy weathers inflation, forex storms

VAM is a fund management company that engages in public and private equity investment and advisory services in Viet Nam. The national Gross Domestic Product (GDP) in November was 7.24 per cent, resulting in a full-year growth of about 6.7 per cent, compared to last year’s 5.23 per cent, according to the VAM's report .

Bidv’s securities arm to hike chartered capital to 1.2tr dong

In 2011, under the approved plan, BSC will offer 33.5 million shares to scale up its chartered capital to 1.2 trillion dong. In details, the securities broker will allocate 11.245 million shares to the existing shareholders at the ratio of 100:13 (100 old shares for 13 new shares) and 4.255 million shares will be sold to the company’s employees. In the initial public offering (IPO) made on November 17, the whole 10,195,570 shares were sold at the average price of 10.317 dong per share, reaching total value of 105.18 billion dong.

ACB, Dai A Bank, VietBank lends VND1.5Tln to Hoa Phat steel company

Of the total, ACB funds VND900billion, while Dai A Bank and Viet Bank finances VND300billion each, the local media specified, the local media specified. The 84-month loan principal has a 24-month period of principal grace, the CafeF reported without specifying interest rates.

Honda prices send buyers into a spin

Over the past two months, Honda Vietnam Company’s (HVN) automatic gear motorbike prices have rocketed up uncontrollably. HVN’s proposed average price was around VND50 million ($2,564) for a newly-launched PCX motorbike and VDN31 million ($1,589) for a Honda Lead motorbike. However, the marketed price was VND65-70 million ($3,333-$3,589) for the PCX motorbike and VND38.5 million ($1,974) for the Honda Lead. Honda motorbikes currently occupy 50 per cent of Vietnam’s motorbike market.

Shipping firms to contain problem

Danish shipping logistics firm Maersk Vietnam told VIR that it had 48 abandoned containers at Haiphong and Ho Chi Minh City ports. “Retarded liquidation of goods has caused huge losses to us as we have to pay high leasing costs for these containers. We have to pay storage charge of $1.6 and $2.4 per day for a 20-foot container and a 40-foot container respectively. We also have to pay a daily per diem of $1-3 for each container,” said the company’s general director Peter Smidt-Nielsen.

Vietnamese consumers top Asia confidence index

The market information company’s TNS AP Temperature found 48 percent of 500 respondents saying the economic and employment situation in Vietnam is positive, a higher proportion than in China, India, and Indonesia.

Foreign firms reject tax-evasion charges

For instance, QMI Industrial Vietnam Company has reported a loss of up to VND3.4 billion every year since 2004. They added up to VND8.4 billion ($420,000) by 2009, accounting for 52.7 of its legal capital. Explaining the company’s losses, deputy general director Yin-Cheng Chuang said it was due to interest on loans.

HCM City takes lead in e-commerce

The first of its kind in Vietnam jointly held by Viet Trung Hoa Investment and Development Joint Stock Company and Vietnam E-commerce Development Centre, participants discussed how to promote made-in-Vietnam products on international markets through e-commerce, while working on business strategies in line with global development trends.

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