Vietnam produces its first electric cables for ships

The Middle Area Construction and Shipbuilding Industry Company (Macshinco), an affiliate of Vinashin Group, officially handed over 20 tonnes of ship electric cables to the Saigon Shipbuilding Industry Corporation on December 16 at the Hoa Khanh Industrial Zone in the central city of Danang.

Marubeni wants to build garment, textile factories in Vietnam

Marubeni is seeking opportunities to make textile and garment products in Vietnam as the Japanese trading company “started moving gradually its investment” to Vietnam from neighboring China this year, Vinatex said today in a statement on its website, quoting Katsuhisa Yabe, head of Marubeni’s textile department.

MOC attempts to set higher capital requirements for real estate developers

Under the currently applied Real Estate Business Law and Enterprise Law, institutions and individuals only need to have the minimum capital of six billion dong to be able to establish a real estate trading company.

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.

Hazardous dye found in sauce

The Health Ministry's National Institute for Food Control detected traces of the dye in samples taken at the plant last month. Environmental police, inspectors from the city's Natural Resources and Environment Department and Hoan Kiem District police raided the company after receiving complains by residents in the district's Cua Dong Ward about pollution from the company.

Germany-Vietnam Day held in Soc Trang

The event was jointly organised by the management board of the German-sponsored wastewater and solid wastes in Vietnam’s provinces and Soc Trang Urban Work company.

Best quality enterprises honored

The golden winners of the National Quality Award this year includes three big producers, namely Minh Long Ceramic Co. Ltd, Thang Long Metal Wares Joint Stock Company and Lâm Thao Fertilizers and Chemicals Co. Ltd.

Itochu to participate in bio-ethanol production business with PetroVietnam

Itochu has decided to invest in the joint venture company, Orient Bio-Fuels Company Limited. The project plans to start commercial operation from spring 2012 using cassava, a well-grown crop in the region as feedstock, aiming production of around 100,000 kiloliters per year. The bio-ethanol produced by Orient Bio-Fuels is expected to be sold to the market through gas stations under PetroVietnam Oil, the company said.

Gold nose-dives VND700,000 per tael

Saigon Jewelry Company, the biggest gold shop in Vietnam, bought the metal at VND35.93 million and sold at VND36.03 million as of 10 am local time. Hanoi-based Phu Quy Jewelry purchased SJC-brand gold at VND36 million and sold at VND36.15 million as of 9:15 am local time. At the same time, gold was bought at VND35.98 million and sold at VND36.15 million at Bao Tin Minh Chau.

Photos of AO-affected Vietnamese children on Paris show

The exhibition introduces entries selected from numerous photos taken by young people of between 16-20 years old using digital automatic cameras provided by Kodak film company. These are results of Muray’s week-long training courses.

Brokerage sells stake to Korean firm

Gia Quyen Securities Company (EPS) vice chairman Nguyen Huu Nam said Korea Investment and Securities Company (KIS) had completed all procedures to hold a 49 per cent stake in his company. The value of the deal, however, was not disclosed. EPS will change its name to KIS.

Viet Nam's first coffee museum set to open

More than 10,000 rare exhibits that illustrate the history of coffee have been transferred to the museum's proprietor - the Trung Nguyen joint stock company - from the world's biggest coffee museum owner Jens Burg of Germany. About 100 objects from the collection are on display at Trung Nguyen Coffee, No 7 Nguyen Van Chiem Street, District 1, HCM City. Visitors are shown how coffee has been made from the beans to a cup throughout history.

More firms optimistic about business environment

The VBF Secretariat announced that up to 74% of the surveyed enterprises said they would expand business in the next 3 years, while only 3.1% of the firms would downsize their business. No company plans to cease production or business.

Tax lift on gold export to hurt some firms

Under the company’s investment licenses, 100% of OPM’s unprocessed gold will be exported in form of bars. “Although Circular 184 would help stabilize local gold prices, it would directly affect on our business activities, which is irrelevant to domestic gold market, said James Hamilton, OPM’s Vice Principal of Investor Relations and Investment Department.

Toshiba targets regional TV sales

Shigenori Tokumitsu, vice president of Toshiba's Visual Products Company, said: "Our TV business strategy in the new year will target six ASEAN countries, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Viet Nam, all of which are developing markets with great potential. Viet Nam is one of the most important markets. With the new business strategy, we expect to increase our market share here from the current 10 per cent to 20 per cent in the coming time."

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