Vietnam and Trans-Pacific Partnership participants

[BoQ77]

Please don't troll, spam, insult, person attack, use taboo and dirty words here.
Stick to the topic recommended.
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HA NOI (VNS) — The chief negotiators of the Trans-Pacific Partnership (TPP) countries will hold their next meeting in Ha Noi from September 1 to 10.
The Vietnamese delegation will be led by the Head of Government's Negotiation Delegation on international trade and economic issues, Deputy Minister of Industry and Trade Tran Quoc Khanh.

Attending the meeting will be more than 400 representatives from 12 TPP countries, including Viet Nam, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and the US. Statistics show that 12 TPP countries will form a large market, accounting for nearly 40 per cent of the GDP and about one-third of trade globally.

Potential members

South Korea was interested in joining in November 2010, and was invited to the TPP negotiating rounds by the US after the successful conclusion of its Free trade agreement between the United States of America and the Republic of Korea in late December. South Korea already has bilateral trade agreements with some TPP members, but areas such as vehicle manufacturing and agriculture still need to be agreed upon, making further multilateral TPP negotiations somewhat complicated.

Other countries interested in TPP membership include Taiwan, the Philippines,Laos,Colombia, and Indonesia. Cambodia, Bangladesh and India have also been mentioned as possible candidates.

Despite initial opposition, China is interested in joining the TPP eventually

 

[BoQ77]

Vietnam strings out yarn forward rule
Vietnam may be allowed to stretch-out its implementation of the yarn-forward rule for the garment and textile industry if it joins the currently under-negotiation Trans-Pacific Partnership.

Vietnam appears to have convinced TPP negotiating countries to allow
an extended time frame for the yarn forward rule

Minister of Industry and Trade Vu Huy Hoang said at the bi-annual Vietnam Business Forum held in Hanoi two weeks ago that Vietnam had asked the proposed Trans-Pacific Partnership (TPP) members for a ‘transformation roadmap” in implementing the yarn-forward rule, or rule of origin, to the country’s garment and textile industry.

“This proposal has been accepted in-principle by other countries,” said Hoang, implying that it could be approved once the TPP takes effect in the future.

“This means that in five years, or maybe more, if the garment and textile supporting industry is still underdeveloped, other TPP nations would still allow Vietnam to enjoy tax preferences under the TPP despite its importing yarns and fabrics from non-members,” said Hoang.

He said Vietnam introduced the proposal because the country was at a lower level of development than other TPP members. Therefore, it would be very difficult for the country to immediately implement the yarn-forward rule.

The TPP is a free trade agreement currently being negotiated by 12 countries including the US, Australia, Malaysia, New Zealand, Singapore, Japan, Mexico, and Vietnam.

The yarn-forward rule, under the TPP, requires that the yarns, fabrics and final garments exported within the TPP are produced in TPP countries. If Vietnam’s proposal is approved, it would allow garment and textile companies to export apparel made from yarn and fabric imported from non-member countries such as China, duty free to the US and the TPP markets.

Hoang admitted that the yarn-forward rule was essential to preventing external players from benefiting from the agreement. However, he noted that Vietnam needed time to prepare.

“While implementing the roadmap, Vietnam has to urgently boost its supporting industry for the garment and textile sector. This is an opportunity for foreign investors to get into yarn and fabric manufacturing projects in Vietnam,” said Hoang, adding that Vietnam would welcome all foreign investors interested in this industry.

With its advantage of cheap labour, Vietnam is one of the biggest garment and textile exporters in the world. The country is an important manufacturing base of many brands such as Nike and Adidas.

Since Vietnam started negotiating the TPP, many foreign investors have announced they would increase their investments into the country’s garment and textile industry to enjoy duty-free exports to the US market and other TPP member states.

For example, South Korea’s Hyosung, the largest spandex producer in the world, announced it planned to invest an additional $50 million in the southern province of Dong Nai to expand production. China’s Texhong Group has also invested in a $300 million textile factory in the northern province of Quang Ninh with a similar expectation of benefiting from the TPP

 

[Aepsilons]

Very good news for Vietnam's prospects. And welcome to the TPP Talks !

 

[BoQ77]

Vietnamese visitors to Japan increase sharply

Tuesday, 19 August 2014 10:22


(VOV) -The number of Vietnamese travellers to Japan jumped 15.6% year-on-year reaching nearly 4.9 million in the first seven months of the year.

Of the figure, those who travel by air hit more than 3.8 million, by land (938,285), and by sea (42,648).

Vietnam Tourism Association Vice Chairman Vu Thi Binh attributed the growth to many recent government incentives particularly the establishment of Japan Outbound Travel Club in Hanoi, central and southern regions which has contributed to improving the quality of tourism services for Vietnamese visiting Japan.

According to Tran Van Long,Viet TravelCompany General Director,in recent years, Japan also launched a number of campaigns to expand its market in Southeast Asian countries by simplifying visa procedures. The country’s plan to waive visa for Vietnamese tourists as of September will help stimulate tourism growth.

The Association has also established an representative office in Japan and domestic travel operators’ attractive tour package at VND30 million per tourist is expected to attract a huge number of Vietnamese visitors in the coming time.

In 2013, Japan welcomed about 85,000 Vietnamese visitors, 55% higher than the level recorded in 2012’s same period while the number Japanese tourists to Vietnam hit a record high of 604,000.

 

[Aepsilons]

In 2013, Japan welcomed about 85,000 Vietnamese visitors, 55% higher than the level recorded in 2012’s same period while the number Japanese tourists to Vietnam hit a record high of 604,000.

Wonderful news. We need to bolster our people to people interaction.

 

[BoQ77]

Vietnam’s Top Five Export Sectors (2013)
June 2nd, 2014 by BDG Asia,
As one of the world’s production powerhouses, Vietnam has large export sectors in a range of manufactured products, from basic goods like garments and textiles to high value-added products like computer hardware. According to the International Trade Centre (ITC), the joint agency of the World Trade Organization and the United Nations, total exports reached $138 billion in 2013. Its top exports that year were as follows:


Electrical and electronic equipment sector was Vietnam’s top export in 2013 by a wide margin, generating $38.4 billion and accounted for 27.8% of Vietnam’s exports. This made Vietnam the world’s 12th largest exporter of electronic equipment that year, and one of the fastest-growing electronics export markets anywhere. The $23 billion hardware sub-sector showed particularly high growth.

After electrical and electronic equipment, Vietnam’s second-largest export sector in 2013 was apparel and accessories, which accounted for 13.2% of total exports. This number includes both knit and non-knit apparel, which are classified as separate categories under the Harmonized Commodity Description and Coding System that the ITC uses.

The machinery sector was the third-largest export sector in 2013, accounting for 8.7% of total exports that year after growing at a rate of 187.6% in the three preceding years. Vietnam’s General Office of Statistics (GOS) reports much smaller numbers for total size of machinery exports, probably because they do not report in accordance with the Harmonized System.

The footwear and shoe parts sector, at 8.4% of total exports, was the fourth largest export sector that year. As with the apparel sectors, this sector shows potential for future growth on account of rising production costs in China and country-specific problems in Bangladesh, Pakistan and Cambodia, all of which compete in apparel and footwear.

The fifth largest export sector in 2013 was mineral fuels and oils, which generated $8.3 billion and accounted for 6.0% of total exports that year. It was the only export sector that declined in the past three years, off from its peak of $11 billion last year. The decline can be explained by increasing domestic consumption, which doubled in Vietnam between 2000 and 2012.

 

[BoQ77]

Australian cattle exports to Vietnam rise by almost 9000 per cent
ABC Rural
By Marty McCarthy
Updated Tue at 9:16amTue 19 Aug 2014, 9:16am


Photo: Big numbers of cattle have been exported from Darwin this year. They've been sent to Indonesia, Vietnam, Brunei and Malaysia. (Matt Brann)

The northern beef industry has been overwhelmed by a dramatic increase in the amount of live cattle exported to Vietnam.

New figures from Meat and Livestock Australia show that in just three years, the number has gone from 1,500 head of cattle to 131,000.

That's an increase of almost 9,000 per cent since the 2011-12 financial year.

Northern Territory Livestock Exporters Association chief executive officer, Ben Hindle, says the number came as a shock.

"There was a need for a market, a secondary market, but it was never known at that point how big it was going to get," he said.

"Behind the scenes there were two major exporters that have put a lot of capital investment and resource investment into Vietnam to make sure that it is a good secondary market, and a domestic for our own national market here."

Mr Hindle says the 131,000 figure is made up of cattle sourced from right across northern Australia.

"Vietnam whet its appetite and those numbers aren't Northern Territory bound, they're across the spectrum and across the north," he said.

"From a Darwin scope, 49,000 head of cattle were exported from Darwin to Vietnam.

"That equates to a 200 per cent increase from last year and provides a diversity to the market dominated by Indonesia."

In its annual projections released in January, MLA said the Vietnam market would 'taper off' in 2014 because of increased demand from Indonesia.

But record numbers of cattle were also exported to Vietnam last year, making it the second biggest customer for northern Australia's live cattle trade.

Mr Hindle says Vietnam benefited from Indonesia's introduction of 350-kilogram weight restriction for imported cattle.

The weight restriction meant exporters with animals below 350 kilograms needed to find new markets and Vietnam became a lifeline.

"It's demand, and Vietnam whet its appetite," Mr Hindle said.

"If you look at a new market like Vietnam, they're taking slightly different cattle, because their first port of call is not to feed, but to slaughter, so they're more cattle traders.

"A slaughter animal is more the target for Vietnam."

Mr Hindle says the Northern Territory Government played a crucial role in establishing Vietnam as a significant trading partner

"They've been in Vietnam for a bit over two years with specialists providing technical advice to a lot of the supply chains," he said.

"The local government here played an integral part in framing the supply chains and making sure the advice was sound and the supply chains were ready to go for ESCAS approval."

 

[BoQ77]

Vietnam's footwear exports among global top five: association
Source:Xinhua Published: 2014-7-22 14:53:14

Vietnam ranked among the top five footwear exporters worldwide in terms of export revenue, said Vietnam Leather, Footwear and Handbag Association Tuesday.

The association said on its website that in the first six months of 2014, Vietnam posted some 4.85 billion US dollars in footwear export revenue, up 21.54 percent over the same period in 2013.

Vietnam remained the second after China in footwear exports to the United States, the European Union and Japan during the period, said the association.

The United States is the biggest market of Vietnamese footwear, with 1.55 billion US dollars worth of products shipped to the market in January-June period, accounting for 31.87 percent of the country's total footwear export revenue, followed by Belgium (6.87 percent) and Germany (5.53 percent).

During the period, China stayed at seventh place in the list of Vietnamese footwear markets with 232.23 million US dollars worth of products exported, an increase of 37.38 percent over the same period in 2013, accounting for 4.79 percent of the market share, said the association.

Currently, the sector's localization rate in materials supply remains at 30 percent in natural leather, 40 percent in synthetic leather and nearly 45 percent in decorative materials.

The sector set a target to raise the localization rate to 50 percent for the above-mentioned materials in 2020

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Intel to make Vietnam its CPU hub in 2015
Thanh Nien News

Sherry Boger, Intel Products Vietnam’s general director, holds up the first CPU manufactured in the Ho Chi Minh City-based factory on July 29. Photo credit: Thoi Bao Kinh Te Saigon

The US-owned Intel Corporation presented its first Ho Chi Minh City-made Central Processing Unit (CPU) on Tuesday and announced plans to shift the majority of its chip production here.
During the press conference, General Director Sherry Boger of Intel Products Vietnam told reporters that the ‘Haswell’ CPUs were made at their factory in the Saigon Hi-Tech Park over the course of two months, Thoi Bao Kinh Te Saigon reported.


"Haswell" is Intel's codename for the fourth generation of processing chips found in nearly every laptop, desktop and mobile phone.
Intel plans to produce 80 percent of CPUs for the world market in Vietnam by this time next year, Boger told the press.
The company has already imported 71 pieces of equipment from factories in Malaysia and Costa Rica and sent 105 Vietnamese engineers to their Malaysian factory for training.
It plans to import 159 more devices to ramp up CPU production in the near future.
Intel Products Vietnam's factory opened in 2006 and began assembling and testing semiconductor components in 2010.
It achieved over US$1.8 billion in export turnovers last year.
Boger said the factory has disbursed around 45 percent of the $1 billion investment Intel set aside for it in 2006.
As of June, the factory has provided more than 1,000 jobs and attracted 80 component providers, including Vietnamese ones.

GE Aviation eyes Vietnam as global supply chain link
July 7, 2014 by vir
The world’s largest jet engine maker GE Aviation, an operating unit of US industrial conglomerate General Electric , is looking to incorporate Vietnam into its global supply chain, taking advantage of the group’s strong presence in energy manufacturing in Vietnam.

David Joyce, president and CEO of GE Aviation told VIR that GE Aviation was “ actually looking at putting some of our work in GE’s operating energy facility in Vietnam “. Joyce did not go into detail about the plan other than claiming that it was likely “ this will happen “.

Joyce referenced the Haiphong manufacturing complex located in the northern port city of Haiphong, which GE has invested more than $110 million in since 2009 and now employs more than 500 local engineers and skilled workers. Wind turbine generators and other energy products manufactured at the Haiphong facility are exported to GE’s manufacturing and service centres around the globe.

With GE Aviation’s plan turning into a reality, Vietnam is likely to become a bigger player in the global aviation industry supply chain.

European aircraft maker Airbus announced this April that Nikkiso Vietnam , a Vietnam-based Japanese company, would produce and supply composite interior parts and outer panels to retrofit planes to meet new Sharklet specs. Production was implemented under a sub-contract with the Korean Air Aerospace Division , the sole supplier of Sharklet for Airbus. Airbus said that when production commenced before the end of the year, about 50 Vietnamese employees would work directly for Airbus through the Nikkiso contract.

Three year ago, Nikkiso Vietnam also shipped its first set of blocker doors, a key component on Boeing 777 airplane engines, to Spirit AeroSystems . Nikkiso Vietnam is a wholly owned subsidiary of Japan’s Nikkiso , located in northern Hung Yen province. The facility, with an initial investment capital of $1 million, started operating in 2010.

Meanwhile, last year, Japan’s Mitsubishi Heavy Industries, after four years manufacturing flaps for Boeing aircraft in Hanoi’s Thang Long Industrial Park, decided to expand its production capacity for aircraft components, aiming to supply more spare parts to Boeing. The new factory will produce components for the Boeing 777 jumbo jet that are currently made at the Mitsubishi Heavy Industries’ Nagoya Aerospace Systems Works .

Mitsubishi Heavy Industries built their first factory in Vietnam in 2007 and started production in 2009. The factory, initially capitalised at $7 million, produces flaps for the Boeing Next-Generation 737.

Korean Aerospace Industries Ltd , South Korea’s aeroplane maker, also had plans to build a manufacturing facility in Vietnam to manufacture equipment and components for Airbus aircraft. The facility, with preparatory steps still under discussion, could be built in the central city of Danang’s hi-tech park.

Headquartered in Cincinnati , GE Aviation currently employs 44,000 people and operates 79 manufacturing facilities and 11 engineering centres in 24 countries worldwide. The company, which recorded revenues of $21.9 billion last year, has announced seven new factories in the past seven years to manage higher production levels and a growing services business.

In October last year, the national flag carrier Vietnam Airlines signed a $1.7 billion deal to purchase 40 GEnx engines from GE Aviation to power its fleet of Boeing 787 Dreamliners scheduled for delivery in 2015. The value of the deal was said to be the largest in two decades of GE’s operations in Vietnam.

“ The delivery streams are set and we are very excited about that order ,” Joyce told VIR .

In a similar move, a representative of CFM International , a 50-50 joint venture between GE and France’s Snecma , told VIR that the first airplane from the budget carrier VietJet Air’s most recent order would be delivered in November. VietJetAir announced at the Singapore Air Show in February this year that it had selected CFM International’s CFM56-5B engine to power its 21 Airbus A320ceo family aircraft. The agreement is valued at more than $800 million.

GE Aviation has announced that the firm would participate in the Farnborough Airshow in the UK . Every two years the show receives a phenomenal public following due to an unrivalled weekend of Aviation excellence and family entertainment.

The July 19 and 20 this year will witness the best ever Farnborough yet. A feast of new activities will deliver what promises to be a day out like no other.

Celebrating 100 years of Aviation History , witness a hearty selection of the great and the good, stemming back from WW1 and spanning through to modern day technology. The 4 ½ hour flying display will be bumper to bumper of non-stop action and guaranteed to get your pulses racing.

And it doesn’t stop there, our on the ground entertainment offers the newly introduced Farnborough Airshow Live , the interactive and informative live stage show with fun and colourful presenting, competitions and interviews.

Some photos of GE Aviation Peebles Test Operations in Cincinati, Ohio:

By Hoang Mai

 

[BoQ77]

The very first wind turbine made in Vietnam
GE Vietnam Ltd., a branch of GE Energy Corp., the USA, on May 10th introduced the very first wind turbine manufactured in Vietnam.

After one year developing the product at Nomura Industrial Park in Hai Phong, a coastal province north of Vietnam, the company now launched its first 1.5 MW product.

GE Vietnam has invested US $61 million in Nomura, focusing on manufacturing and assembling components and accessories for electricity generating system, power plants, and power transmission system. It also offers installation, warranty, maintenance and repair services. The factory, whose products will be exported entirely to American and European markets, has the capacity of 1500 units or 3750 tons per year.

 

[BoQ77]

With an Eye on TPP, Garment Companies Flock to Vietnam



Exhibitors examine their company's yarn display at Saigon Tex, a garment and textile expo.


HO CHI MINH CITY — As China and its workers get wealthier, global manufacturers are looking south for less expensive places to do business. But Cambodia faces labor strikes. The Thai government suffers endless protests. Burma, also known as Myanmar, needs infrastructure updates. As a result, many companies are setting their sights on Vietnam.

Hundreds of them, in fact, descended on Ho Chi Minh City this weekend for Saigon Tex, a garment and textile expo. Sharing a border with China, Vietnam boasts geographic convenience, as well as political stability and low costs. Those attract companies like Spain-based Jeanologia, which showed off its laser-on-denim technology at the expo.

“It is becoming such an important hub for American and European brands,” Jeanologia area manager Borja Trenor Casanova said of Vietnam.

The Trans-Pacific Partnership (TPP) helps, too. As one of 12 countries negotiating the trade pact, Vietnam stands to benefit most from a clause that would cut tariffs on textiles and apparel, which are among the nation’s top exports.

To take advantage of the tax reduction, foreign companies are shifting their factories to Vietnam. Nguyen Thi Cam Tu is general manager at Thach Anh Vang, which represents manufacturers from Germany, Turkey, the United States, and others. She said the TPP is part of the reason her company saw a 50 percent increase in annual turnover in 2013,

“I see a lot of investment going on, because we see quite a lot of inquiries recently,” Cam Tu said, as a giant yarn spinner roared at the vendor slot next to hers at the expo.

The growth is reflected across the country. Textile exports increased 20 percent in the first quarter of 2014, compared with the same period last year, according to the General Statistics Office.

While production and revenues have risen steadily, Vietnamese companies and officials recognize a gaping weakness in the garment industry: It buys most of its materials from other countries. The Vice Minister of Industry and Trade Ho Thi Kim Thoa told an audience at the expo that Vietnam must set targets to produce more fabrics on its own.

“These targets demonstrate an urgent need for technological innovation, improvement of quality control, labor management, environmental management, as well as improvement in the textile and garment supply chain in accordance with international standards,” Kim Thoa said.

If it doesn’t develop more local suppliers, Vietnam won’t be able to tap the full potential of the Trans-Pacific Partnership. The agreement is likely to include a yarn-forward rule, which requires Vietnam to make clothes with materials from TPP member countries in order to receive tax-free import benefits.

But people are looking to improve the garment sector in other ways, too. Casanova said Jeanologia’s laser-printing is one of the technologies that could help Vietnam become a value-adding step in the production chain. The country, which achieved lower middle income status in 2010, is still very dependent on cheap labor. But to avoid the middle-income trap, it needs to find ways to add value to its exports. Casanova said it seems to want technology for that purpose, as well as to promote environmental sustainability in business.

“Vietnam is showing interest in a change in the industry,” he said.

Microsoft to produce Nokia mobile phones in Bac Ninh
Posted on August 21, 2014 Written by vovnews Leave a Comment
(VOV) – Microsoft Group – the new owner of Nokia Vietnam is transferring a large number of production lines from factories in China, Hungary and Mexico to Vietnam, according to a representative of Nokia (Vietnam) Limited Liability Company.

According to the representative, Microsoft plans to shut down all Nokia’s production factories and turn them into Nokia service centres. The company will concentrate production in the northern province of Bac Ninh.

Nokia Vietnam said that it will produce luxury mobile phones using Windows. The transformation process is tentatively set to begin with product models LUMIA630 and LUMIA530 late this August.


By the end of October all of the company’s mobile phones should be produced at the factory in Bac Ninh province.

Microsoft aims to increase the factory’s production lines from six in 2013 to 39 in late 2014 with monthly output tripling compared to last year.

Nokia Vietnam affirmed that production lines transferred to the factory in Vietnam under the Microsoft’s business strategy and will not negatively impact the environment.

Nokia also plans to increase 50% of its labour force while the number of professional engineers will also be doubled with the considerable involvement of technicians and fresh students.

With the new plan, Nokia Vietnam’s investment capital is expected to increase to US$220 million with export value reaching US$1.86 billion and an output of 76.4 million products per year.

 

[BoQ77]

ROC welcomes positive US statement on Taiwan’s interest in TPP

Kin Moy, U.S. deputy assistant secretary of state for East Asian and Pacific Affairs, said March 14 in Washington that the US welcomes Taiwan’s interest in the Trans-Pacific Partnership.

The ROC Ministry of Foreign Affairs is gratified by and welcomes Moy’s remarks, which came in both oral and written testimony at a House Foreign Affairs Committee hearing on “The Promise of the Taiwan Relations Act.”

“We are considering Taiwan’s interest in restarting exploratory talks for a Bilateral Investment Agreement, and we welcome Taiwan’s interest in the TPP,” Moy said in his written statement to the committee. He reiterated the welcome in a response to a question from Chairman Ed Royce.

“Taiwan was the United States’ 12th-largest trading partner in 2013,” he noted in his written testimony. The two sides resumed talks under the Trade and Investment Framework Agreement (TIFA) last March, and through this platform “have been able to address and resolve U.S. and Taiwan trade and investment concerns,” he said, adding that issues discussed by the Investment Working Group have included a Bilateral Investment Agreement.

According to his written statement, the U.S. is also “engaging with Taiwan on the sets of economic liberalization initiatives spurred by President Ma’s New Year Address, as Taiwan evaluates its readiness for and interest in the Trans-Pacific Partnership.”

Moy’s positive comments indicate the importance the U.S. attaches to the ROC government’s determination and preparations to join the TPP. The ROC government firmly believes that economic and trade ties with the U.S. will be further strengthened going forward through cooperation based on mutual trust and benefit, and wide-ranging bilateral relations will continue to develop as a strong, enduring partnership.

 

[BoQ77]

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Vietnam earns over $1 bln from cashew nuts exports in 7 months

Vietnam earned some 1.02 billion U.S. dollars from exporting cashew nuts in the first seven months of 2014, up 17.5 percent year-on-year, said Vietnam Customs.

Vietnam Industry and Trade Information Center (VITIC) under Vietnam's Ministry of Industry and Trade on Thursday quoted statistics by Vietnam Customs as saying the country exported some 158,000 tons of cashew nuts in seven-month period, up 15.7 percent year-on-year.

The United States, China and the Netherlands remained three largest markets of Vietnamese cashew nuts during the period, accounting for 31.19 percent, 16.3 percent and 11.09 percent of Vietnam's total export revenue of the item, respectively, reported VITIC.

Vietnam now ranks third globally in the list of major cashew exporters, following India and Ivory Coast, said Vietnam Cashew Association on its website on Wednesday.

Earlier, the association forecast that the Vietnamese cashew sector will pocket some 1.8 billion U.S. dollars from exporting 180,000 tons of nuts in 2014.

Source: globalpost.com

Publication date: 8/22/2014

 

[BoQ77]

Troms Offshore Supply AS, a wholly-owned subsidiary of Tidewater Inc., has announced that Tidewater has entered into agreements to purchase two PSV Vard 08 vessels under construction, hulls no 791 and 792 at the Vard Vung Tau yard in Vietnam.


The vessels have a length overall of 81,70m and a breadth of 18,00m with a deck area of 830 m2.

The two ships will primarily be positioned for operations in the North Sea and arctic waters and will be managed by the Troms team in Norway. Delivery dates are expected in January and April 2015. Both sister ships are based on innovative environmentally friendly design and equipment and will be delivered with the class notation Clean Design.


In addition to the customary supply ship services, these ships will be prepared for North Sea and Barents Sea operations through the Ice C class notation and also carry firefighting and oil recovery equipment in accordance with NOFO 2009, Stanby rescue in accordance with NMD for up to 200 persons.

Troms Offshore believes that these ships will play an important role in the rescue and emergency planning in Northern Norway and in the Barents Sea.

Mårten Lunde, the CEO of Troms Offshore, said: “This investment will enable us to grow the company and will create further employment opportunities both onshore and offshore. This will benefit the northern region as we predominately recruit our personnel from this area.

We have taken delivery of several vessels from the Vard group in Norway and are confident that their yard in Vietnam will deliver vessels with equivalent quality as those constructed in Norway.”

Troms Offshore Supply AS is a wholly-owned subsidiary of Tidewater Inc., which is the leading provider of Offshore Services Vessels (OSVs) to the global energy industry. The company has its head office in New Orleans.

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Mitsui Engineering & Shipbuilding Company wants to invest in Kim Thanh district
Posted on August 8, 2014



Mr. Nguyen Manh Hien, Chairman of the Hai Duong provincial People’s Committee, on August 1 received Mr. Shisuke Minoda, CEO of Mitsui Engineering & Shipbuilding Company (Japan).


Mitsui Engineering & Shipbuilding Company mainly operates in the fields of building large motor ships, producing cranes and mechanical machines, and refining some gas.

In Hai Duong, the enterprise wishes to invest in Kim Thanh district and asked the provincial People’s Committee to create many favorable conditions for its efficient production and business.

Chairman of the provincial People’s Committee Nguyen Manh Hien appreciated Japanese businesses’ involvement in investment in the province over the past time.

Mr. Hien stressed that the provincial People’s Committee was willing to remove difficulties and obstacles to help enterprises invest in production and business.

He hoped that along with many other businesses in the province, Mitsui Engineering & Shipbuilding Company in the coming time would actively invest capital, science and technology to develop Hai Duong’s industry towards modernization.

During the investment, the enterprise should pay attention to developing sustainably, building the factory’s own character through the building of a brand name for products, and creating more jobs for Hai Duong laborers.

 

[Jlaw]

We feel no hurt at all. Maybe it's you.

LOL. Why would I be hurt? tpp is going to sink your country further down the shit hole which is good. Just like more Viet nurses going to Japan is good, lol. Japanese dude is making you guys look bad.

 

[BoQ77]

LOL. Why would I be hurt? tpp is going to sink your country further down the shit hole which is good. Just like more Viet nurses going to Japan is good, lol. Japanese dude is making you guys look bad.

Don't use dirty words as I mentioned at first post. Please remove or revise it. Thanks