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Giant agriculture port reopens

The 308-metre-long port has seen its capacity increase from 30,000 tonnes to 160,000 tonnes now and it will rise further to 200,000 tonnes next year. It is capable of accommodating ships of up to 75,000DWT. Expansion of the port, built in 2003 by the Singapore- owned Interflour Vietnam Ltd Company, costs US$50 million.

Big-hearted Blue - IBM reinvents voluntary work

The idea was a result of trying to implement the vision of Sam Palmisano, IBM’s chief executive, to turn the company into a “globally integrated enterprise”. Needing to develop leaders capable of operating anywhere in the world, the firm decided to use volunteering as a form of training for high-flyers. There are benefits, says Stanley Litow, who has overseen the corps from its conception: communities benefit from an influx of talented problem-solvers, the company’s brand is polished and it gets a squadron of leaders with new skills. “And it’s a lot cheaper than a traditional international assignment,” says Mr Litow.

Vietnam Arrests Executive in Securities-Fraud Case

Criminal proceedings against Le Van Dung, chairman of Vien Dong Pharma Joint-Stock Co. for “stock-price manipulation” commenced on Nov. 24 and he was arrested two days later, the company said yesterday. Vien Dong climbed 4.9 percent from a record low, halting eight straight days of declines at the 11 a.m. close. The benchmark VN Index climbed 1.2 percent to a three-week high.

Near-bankrupt Vinashin may owe 3% of Vietnamese banks’ loans

Vietnam Shipbuilding Industry Group, the near-bankrupt ship maker, may account for as much as 3 percent of some Vietnamese banks’ loan portfolios, putting them at risk for restructuring, Moody’s Investors Service said. State-owned Vietnam Shipbuilding, also known as Vinashin, said Nov. 19 it may delay a $60 million principal payment on a $600 million loan, according to Karolyn Seet, a Singapore-based financial institutions analyst at Moody’s, who wrote she now questions the extent of government backing for the company.

Moody’s warns on Vinashin debt problems

“We believe the Vinashin episode shows that timely government support to both the corporate as well as the banking sectors cannot be reliably assumed,” Karolyn Seet, an analyst at Moody’s wrote in the company’s weekly credit outlook. “More importantly, the episode raises further questions about the risk of further credit losses in loans to Vietnam’s SOE [state-owned enterprise] sector.” Vinacomin, a state-owned coal miner, pulled a proposed $500m bond issue last week because of investor jitters, which have been exacerbated by the ongoing eurozone debt crisis.

Ha Noi employers dangle higher paychecks to attract workers

A consultant from Interserco Job Placement Centre said she had advised a transport company to increase its starting salary for labourers by VND300,000 (US$15) per month and as a result, recruitment had quickly risen. "The average salary for a worker without a degree has risen to between VND2 million and VND2.5 million ($125) a month compared to VND1.6 million ($80) at the start of the year," she said. The Ministry of Labour, Invalids and Social Affairs' Centre for Labour Market Forecasts said the demand for workers was rising in marketing, management, services food processing, garments and textiles.

OxIndus technology to recycle steel dusts introduced

Scientists said that OxIndus technology is an effective technology and a feasible economic and environmental solution in steel production using EAF technology. The process does not generate toxic waste, they said. At present, the French Natural Resources Development Research Company (NRD) and its partners are waiting for investment licences to build a White Line plant in the northern port city of Hai Phong and install the first Black Line in 2011.

Foreign companies boost Vietnam’s housing

The total investment capital of the venture is expected to reach 215 million US dollars, with 75 percent of the total coming from two Singaporean real estate firms, including CapitaLand company and the real estate investment division of Singapore ’s sovereign wealth fund, GIC. The Japanese company Mitsubishi will contribute 25 percent of the investment capital.

Thai Hoa coffee firm secures Vietnam listing permit

The Hanoi Stock Exchange granted Thai Hoa an initial approval to list 55 million shares, representing the company's registered capital of 550 billion dong ($28.2 million), it said in a statement seen on Tuesday. Thai Hoa Chairman and Chief Executive Nguyen Van An told Reuters last week that the Hanoi-based firm planned to make its share debut in December. VinaCapital Group, an asset management firm, has bought a 10 percent stake in Thai Hoa, An said.

Pollution offering some clean profits

Global Aurecon group said environmental pollution was a big menace to Vietnam, “but it is creating many investment opportunities to investors like us,” said an Aurecon Vietnam company representative. She said the company planned to engage in Vietnam’s water treatment sector. Alba Management GMBH Group, one of Germany’s leading groups operating in waste treatment, recyclables trading and facility management, is also upbeat about Vietnam’s market.

Anything Is Possible

Frank Jao is Chief executive, Bridgecreek Group, a real estate development company in Huntington Beach, Calif. AGE 61 -- HOBBY Playing basketball -- FAVORITE ARCHITECT Michelangelo

I started my company in 1978. For the first 10 years, I worked 16 hours a day, seven days a week. I had read a lot about the United States and felt I had a head start because I had worked for the government, but I wasn’t optimistic initially.

HCM City water polluted by building waste sludge

Tran Thi Cam Van, an official with the municipal Water Drainage Company (WDC), said the city lacked mud-waste treatment plants and that existing sites that collect the material were overburdened.

Kon Tum cancels hydroelectric plant projects

The cancelled projects include Dak Xo Rach 3, Dak Xo Rach 4, Ngoc Tem which were produced by Hoang Anh Gia Lai company, Dak Man of Tu81 Cuong company, Nuoc Chim of Minh Chien company, Dak Plo of Dai Phat and Dak Ro Ke of Trung Dong company.

French businesses increase presence in Vietnam

Many of French businesses participating in the event have been doing successfully in Vietnam, including Total oil and gas group, Groupama insurance company, Geodis and Michelin.

Vietnam’s PV Gas share sale drawing tepid investor interest

Only about two-thirds of the 94.75 million common shares of PV Gas on offer — representing about 5% of the company — have been spoken for, according to the information on the HoChiMinh Stock Exchange website, meaning that there is unlikely to be any deviation from the published offer price of Vietnamese dong 31,000 ($1.57).


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