Vietnam Economy Forum

[Battle of Bach Dang River]

Tractors made in Vietnam (Used in Agriculture)
Tractors of VEAM (Tổng Công Ty Máy Động Lực và Máy Nông Nghiệp)

Trademark: Bông Sen, VINAPPO...

Generators made in Vietnam: VIKYNO, ....

 

[Battle of Bach Dang River]

Vietnamese economy: Slowing growth in the Mekong Delta
Posted 8/17/2012 12:00 PM by Emerging Money> from Emerging Money in Investing, International, Stocks

While many of its Southeast Asian regional peers like Thailand ( THD , quote ) and Malaysia ( EWM , quote ) continue to outperform and beat expectations, the Vietnamese economy ( VNM , quote ) is faltering as a result of the global economic slowdown.

The Vietnamese economy is seeing its growth slow due to a contraction in demand from around the world. Given the country's export-reliant economy, the fact Vietnam is experiencing a slowdown is hardly surprising.
Unlike Thailand and Malaysia, which have seen a considerable boost in domestic spending, internal consumption in the Vietnamese economy has proven harder to catalyze.
The State Bank of Vietnam announced this week that lending would only reach 8-10% this year , far below their January target of 15-17%.
As a result, the central bank has implemented measures designed to foster credit growth . By injecting liquidity into commercial banks, the State Bank of Vietnam hopes that lending will increase; however, given the subpar credit conditions, it remains unclear how effective these initiatives will be.
Slowing credit growth and an overall weak global economy are largely responsible for the Vietnamese economy's drop in GDP growth. Numbers were recently revised downwards; the country is now expected to grow less than 5%, considerably lower than the initial 6% forecast. While 5% growth would be more than welcome in developed nations, for a frontier market like Vietnam, less than 5% growth is poor.
Like a number of other emerging market nations, the health of the Vietnamese economy is contingent upon a recovery in the global economy. If signs materialize that Europe is getting its act together, starting a position in the Vietnamese ETF is not a bad idea as the country would likely see a stock market rebound if the global economy gets back on track. However, until any sort of concrete European plan manifests itself, don't expect too much from the Vietnamese economy.

Vietnamese economy: Slowing growth in the Mekong Delta - NASDAQ.com

 

[Battle of Bach Dang River]

Vinaxuki, a leading Vietnamese auto brand
Cập nhật lúc: 10:22 23/07/2012

(VEN) - From a young business in the field of automobile manufacturing, assembly and distribution, and after many years of persisting with its development solutions, the Xuan Kien Automobile Joint Stock Company (Vinaxuki) has affirmed its position as one of the leading auto manufacturers in Vietnam. Its efforts have not only brought good business results, but also proved that Vietnam is capable of developing the auto industry.

A dream of the Vietnamese
Vinaxuki was established in 2004 and at that time, it was a young business in the field of automobile manufacturing and assembly. Unlike other businesses concentrating on making a profit by importing foreign components for assembly in Vietnam, as soon as it came into operation, Vinaxuki has chosen its own way to go: promoting intensive investment in manufacturing auto components here in Vietnam. At that time, many people doubted the company would not succeed. However, with the local content of automobiles assembled in Vietnam growing year after year, Vinaxuki has proved the way it chose is right despite numerous difficulties.
...

Convincing the Southeast Asian market
Along with efforts to realize the dream of creating Vietnamese automobile brands, Vinaxuki has strived to increase sales by 10-15 percent in the first 10 years and is looking towards the goal of exporting 30 percent of its output next year and 80 percent by 2023. Vinaxuki's export markets will include Association of South East Asian Nations (ASEAN) countries with preferential tax rates to take effect from 2018. Bui Ngoc Huyen said that if Vinaxuki's goal of localization is achieved, Vinaxuki will be capable to export many types of automobile to ASEAN countries at competitive prices (Vinaxuki automobiles will be manufactured with high technology to meet regional standards but the manufacture cost will be just 80-90 percent of that in other regional countries). In the near future, Vinaxuki will concentrate on exporting components or fully assembled automobiles to markets such as Laos, Cambodia, Myanmar and other countries in the region. After that, it will explore possibilities for exporting to other potential markets such as Africa and Latin America.
With a strong will and a well-oriented strategy, Vinaxuki has been successful, and its success proves that the dream of creating Vietnamese automobile brands can become true. It is hoped that by 2018 when a tax rate of zero percent is applied to exports between ASEAN countries, Vietnamese-brand automobiles will be present in the global market./.

 

[Viet]

Vietnam expects $15b FDI capital attraction in 2012
Wednesday, 11/01/2012 01:16 PM - vietbiz24.com

Vietnamese Dong

Speaking at the conference "Economic Forecast in 2012-2015" on Tuesday, deputy general director of Foreign Investment Agency under the Ministry of Planning and Investment (MoPI), Nguyen Noi said that this year Vietnam expects to attract newly registered FDI (foreign direct investment) capital (including raised FDI capital) at about $15 billion, equalling to the figure in 2011.

The actualised FDI capital would be at $11 billion and it may increase in the next years, according to the Foreign Investment Agency.

According to the statistics, in 2011, newly-pledged and raised FDI capital in Vietnam reached about $14.7 billion, or 74 percent from 2010. Of which, 76.4 percent of FDI capital was for agriculture and construction (the ratio was 54.1 percent in 2010) and 5.8 percent for real estate (it was 34.3 percent in 2010).

Notably, the number of FDI projects worth of billions of US dollar for real estate, iron and steel and cement decreased clearly, Noi said.

The export turnover of FDI enterprises in 2011 reached about $54 billion (including crude oil), accounting for 59 percent of the country's total export turnover and rising 39.3 percent from 2010, higher than the rise of the local economic area (26.1 percent).

The import value of FDI firms in 2011 was $47.8 billion, rising 29.3 percent from 2010. Meanwhile, the country's import growth was 33.3 percent in 2011.

As of December 15, 2011, Vietnam had 13,644 valid FDI projects worth $198 billion, including 54 percent for agriculture and construction sectors. The actualised FDI capital reached $90 billion, or 40 percent of the registered FDI capital.

 

[Viet]

Vietnam reports increase in Foreign Direct Investment
Wednesday, Jun 27, 2012, Posted at: 15:42(GMT+7) - saigon-gpdaily.com.vn

In the first half of 2012, Vietnam registered 452 new foreign invested projects and reported capital increase in about 123, said a Government official to the media.

Vietnamese Minister of Industry and Trade Vu Huy Hoang (L) and the EU’s Trade Commissioner Karel De Gutch officially begin negotiations for a Free Trade Agreement between Vietnam and the EU in Brussels , Belgium , on June 26. (Source:VNA)

Thus Vietnam attracted nearly US$6.4 billion in investments, an increase of 72.3 percent over the same period last year.

Industrial processing, manufacturing accounted for approximately 63 percent of the registered capital; followed by real estate with a registered capital of nearly 25 percent; group projects in wholesale, retail, repairs about 10 percent, announced the head of the Foreign Investment Department under the Ministry of Planning and Investment.

Meanwhile, FDI disbursement in June is estimated to have been US$890 million, its lowest level in four months. In accumulated figures of six months, FDI disbursement reached US$5.4 billion, up nearly 2 percent over the same period in 2011.

In the list of largest investors, Japan is ranked Number 1 with nearly $4.1 billion (65 percent). In foreign investments, Binh Duong Province is leading with US$1.7 billion.

However, the target of attracting foreign direct investment capital of upto US$15-17 billion this year is still far away, especially in context of global FDI flows continuing to decline.

However, replying to the press on this issue on June 27, Do Nhat Hoang, director of Foreign Investment Department, maintained that in recent months the situation of foreign investment was quite stable and foreign capital structure changes were moving in a positive direction.

"With this momentum, if no big change occurs on the international market and the measures that the government is applying prove to be effective, it is likely we reach the set goal in attracting foreign investment, "Mr. Hoang stated.

 

[Battle of Bach Dang River]

Some photos about one of the trademarks of the fledgling automobile industry of Vietnam, Vinaxuki:

 

[Battle of Bach Dang River]

HUUTOAN (Hữu Toàn), a Vietnamese brand in the fledgling industry in Vietnam:

Huu Toan Joint-Stock Corporation was founded in 1982. Over the years, the corporation has taken the lead nationwide (Vietnam) in manufacturing electric generators, air compressors and agricultural machines, such as water pumps, brush cutters and powder sprayers. The electric generator product manufactured by the company is one of the top brand names in Vietnam. The gasoline and diesel electric generators account for 70% and 40% of the domestic market share respectively.
......

 

[Snomannen]

Vietnam is always the tough guy of the SEAsia.

 

[Battle of Bach Dang River]

Some products of Hữu Toàn (Huu Toan) brand:

 

[Viet]

Major economic data of Vietnam 2012 - compared to 2011
(I posted the numbers elsewhere, just a repeat)

- inflation declined to 5 per cent in July from 23 per cent
- trade deficit narrowed to US$58m in the first seven months compared to almost $6bn
- the dong has been stable for most of the year
- the credit-to-GDP ratio declined from 121 per cent in 2010 to 108 per cent in 2011
- imports weakened to a 9 per cent growth from 13.6 per cent
- export growth is likely to be only 13.7 and not 16.6 per cent
- forex reserves may reach $20 billion, up by 25%
- gdp 2012 expected to grow at 6%
- unemployment rate remains nearly unchanged at 2.29% in H1/2012 compared to 2.3 % in 2011.

 

[Battle of Bach Dang River]

PTSC Conquers the Ocean
17/07/2012 10:10 GMT+7

With a dream to conquer the ocean, PetroVietnam Technical Services Corporation (PTSC) has continuously invested in technology and successfully produced many modern large-scaled oil platforms, making an effective contribution to developing the marine economy and ensuring security, national defence and sovereignty of the sea and islands.

PTSC is a member of the Vietnam National Oil and Gas Group (PetroVietnam). It is considered the leading supplier of services, such as specialized vessels, floating storage and offloading vessels (FSO), floating production, storage and offloading vessels (FPSO) and seism surveys for the oil and gas industry in Vietnam and Southeast Asia, especially in the field of designing, manufacturing and installing offshore oil platforms.

At present, PTSC has over 23 affiliates, 3 joint-ventures in Singapore and 1 affiliation in Malaysia with a staff of more than 10,000 people who have high capability and professional skills. Having been carefully trained and with experience in international business operations they have been granted certificates of safety and quality by the world’s leading registry companies.
....

Besides PTSC M&C, PTSC has many other member units which are involved in this field. Recently, the PetroVietnam Marine Shipyard (PV Shipyard) completed a project on building the 90m-high jack-up drilling rig - Tam Dao 03 for the Vietnam-Russia Joint Venture (Vietsovpetro). This jackk-up drilling rig looks like a giant mobile building on the ocean and has the marine standards of a large ship with many features of modern and sophisticated technology. It weighs nearly 12,000 tonnes with legs 145m tall. It is able to operate in 90m-deep seas and has a drilling capacity of 6,100m into the seabed.
In its business strategy from now to 2015 and development orientations to 2025, PTSC strives to become a strong supplier of oil and gas technical services in the maritime industry and to forge a niche in the region and the world. Its oil and gas technical services will be a key factor in making the company become one of the three leading units in this field in Southeast Asia.
After nearly 20 years of development, PTSC has made great progress and has been considered the leading corporation in providing oil and gas technical services in Vietnam and establishing its brand in the oil and gas markets in Southeast Asia. More importantly, the modern and large-scale oil platforms built by the corporation have not only served in the exploitation of oil and gas, development of the marine economy and ensurance of the energy security for the country, but also has made an effective contribution to ensuring the national security and sovereignty of the sea and islands.

By: Vinh Hung - Photo: Hoang Quang Ha

 

[Battle of Bach Dang River]

Vietnam: PTSC M&C Completes Su Tu Trang Jacket and Topside
Posted on May 11th, 2012

The load-out and sail-away ceremony will be held May 14th for the Su Tu Trang jacket and topside at PTSC M&C fabrication yard in Vung Tau City, Vietnam.
The ceremony will be attended by the representatives of Vietnam Oil and Gas Group, PetroVietnam Exploration and Production Corporation (PVEP), PetroVietnam Technical Services Corporation (PTSC), Cuu Long JOC , PTSC Mechanical and Construction Company (PTSC M&C).
Known as a well-established operator in Vietnam, Cuu Long JOC has been operating the Petroleum Exploration and Production activities under the Petroleum Contract for Block 15.1 Offshore Vietnam with four discoveries namely Su Tu Den (Black Lion) Oil Field, Su Tu Vang (Golden Lion) Oil Field, Su Tu Trang (White Lion) Gas-Condensate Field and a recently discovered Su Tu Nau (Brown Lion) oil field.

Su Tu Trang is a turn-key project awarded to PTSC M&C in March 2010 by Cuu Long JOC. The scope of work includes Engineering, Procurement, Construction, Installation, Hook-up and Commissioning for a 1,400 ton topside, 1,200 ton jacket, 1,000 ton jacket pile, 19.5 km infield pipeline and the additional modification for the existing Su Tu Vang Central Processing Platform.
Nippon Steel Engineering Company Limited (NSEC), under the supervision of PTSC M&C, completed the detailed design work in November 2011. Overall project management, procurement and fabrication were carried out and managed by PTSC M&C as part of its turn-key, EPCI contractor’s responsibilities.
PTSC M&C says it “is now targeting the finish date of offshore installation campaign to be in early of July 2012.”

Sư Tử Trắng (White Lion)

Vietnam: PTSC M&C Completes Su Tu Trang Jacket and Topside| Offshore Energy Today

 

[ChinaToday]

Vietnam is always the tough guy of the SEAsia.

What is that got to do with vietnam economy?

 

[dunhill]

First Oil Flows from Second Platform on TGT Field Offshore Vietnam

Posted on Jul 9th, 2012

SOCO, an international oil and gas exploration and production company, announces that the first flow of crude oil and gas from the H4 Wellhead Platform (‘WHP-H4&#8242 of the Te Giac Trang Field (‘TGT&#8217 occurred on 6th July 2012. The start of production has been achieved over one month earlier than scheduled and nearly a year ahead of the original approved development plan.
WHP-H4 is located in the south of the TGT Field in Block 16-1 in the Cuu Long Basin, off the southern coast of Vietnam, approximately 100 kilometres from Vung Tau, 20 kilometres northwest of the Bach Ho Field, and 35 kilometres west of the Rang Dong Field. The block is operated on behalf of SOCO (30.5%) and its Partners, PetroVietnam Exploration & Production Corporation (41%) and PTT Exploration and Production Public Company Limited (28.5%), by the Hoang Long Joint Operating Company which was established in 1999.
Production from the field, currently approximately 42,000 barrels of oil per day (‘BOPD&#8217, will now be increased to the 55,000 BOPD processing capacity of the ‘Armada TGT 1′ FPSO.
Simultaneously, the PetroVietnam Drilling Services Corporation rig, the PVD-II, has arrived on location at the H1 Wellhead Platform and commenced drilling the conductor sections of a four well, infield development drilling programme.
Ed Story, President and Chief Executive of SOCO, commented:
“First oil from the second platform at the TGT Field in Vietnam marks a key milestone for the Company. We set an ambitious delivery target and it is a credit to all involved that this has been achieved ahead of schedule. We now look forward to working with our Partners to maximise the recovery and performance of the field. The success and knowledge we have gained thus far from the TGT Field will enable us to drive further shareholder value in Vietnam and the wider region.”


Sources:First Oil Flows from Second Platform on TGT Field Offshore Vietnam| Offshore Energy Today

 

[ViXuyen]

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