Vietnam Economy Forum

[Viet]

Vietnamese firm invests $152 m in Thakhek


| Vietnam+ | Mar 16, 2013 09:20 am

Hong Quang Co. of Vietnam has signed a 14-ha land concession agreement with authorities of Laos ’ Khammouane province to implement its $152 million project in the Thakhek Special Economic Zone, the Laos news agency KPL reported on March 14.

The agreement, with a 75-year term, was signed on March 11 at the Thakhek Specific Economic Zone Office, Khammouane province. The investment project involves the building of a shopping centre, a five-star hotel, an entertainment complex, and a restaurant.

The company has presented over $360,000 to the Executive Board of Thakhek Special Economic Zone to compensate local people who are affected by the project.

 

[Viet]

Minister asks WB for $2.45 bln loan for anti-flooding projects


TUOITRENEWS A+ A-
Updated : Mon, March 18, 2013,1:03 PM (GMT+0700)

A section of the Nhieu Loc-Thi Nghe canal in HCMC - Photo: Tuoi Tre


The Minister of Agriculture and Rural Development, Cao Duc Phat, has suggested that the World Bank (WB) finance Ho Chi Minh City’s anti-inundation projects that will cost VND51 trillion (US$2.45 billion).

On March 17, Minister Phat and HCMC leaders took WB representatives on a fact-finding trip to locations where anti-flooding works will be built in the city.

These projects include a 146km-long embankment system surrounding the city, starting in Chu Chi District and running to the Kinh Lo River in neighboring Long An Province, said the HCMC Anti-Flooding Program Operating Board.

In addition, ten tide-controlling sewer systems will be built at major river mouths in the city, the board said.

The city has built 30 km of such sewers in the Nhieu Loc-Thi Nghe Canal at a total cost of VND2.5 trillion ($120.2 million) in order to prevent high-tide flooding in seven districts, the board added.

Irrigation planning is the optimal solution to flooding in HCMC, the Minister told his guests during the trip. He also proposed that the WB grant HCMC loans to develop its anti-flooding projects.

Victoria Kwakwa, WB Country Director in Vietnam, highly appreciated the anti-flooding solutions launched by the city authorities. She said WB would assign experts to work with the city’s concerned agencies about issues related to the granting of loans to the city.

 

[Viet]

US group hosts limited partners conference in Hanoi


Updated : 3/18/2013 10:36:01 AM
VOV

Texas Pacific Group (TPG), one of the largest private equity firms in the US, will organise its limited partners (LB) conference in Hanoi from March 19-21.

This is the first time the group has decided to hold an LP conference outside the US.

Vietnams is a potential Asian market of 90 million consumers. Its strong domestic consumption growth is making the country an attractive destination for private equity players. The event will be an opportunity for the LPs to explore the business opportunity and experience firsthand Vietnam’s dynamic country.

TPG has invested US$36.5 million in technology corporation FPT in 2006 and subsequently invested US$35 million in Masan Group Cooperation (MSN) in 2009. Both FPT and MSN are listed in the Ho Chi Minh City Stock Exchange.

Founded in 1992, TPG now belongs to an elite group of largest private equity firms in the US with a total asset of approximately US$54.5 billion.

 

[Viet]

GM Vietnam introduces its first pickup


Updated March, 12 2013 12:02:00
Vietnam News

GM Viet Nam Managing Director Gaurav Gupta introduces Colorado pickup at a press meeting in Ha Noi.—VNS photo

Interior of Colorado pickup combines car-like characteristics.—VNS photo


HA NOI (VNS) -- General Motors Viet Nam launched the Colorado, its first locally produced pick-up, yesterday with an eye on the increasing demand for mid-size trucks in Vietnam.

"We are confident that this is the right vehicle for even the toughest truck users in Viet Nam," said Gaurav Gupta, GM Viet Nam Managing Director. The pick up is equipped with a Duramax turbo-diesel 2.8 L engine, which delivers power of 178 hp/3,800 rpm and torque of 440 Nm/2000 rpm.

Developing the truck took five years and US$2 billion.

 

[Viet]

Panasonic washing machine factory operational in Vietnam


Updated : 3/20/2013 5:46:10 PM

(VOV) - Panasonic Appliances (PAPVN) has officially inaugurated its washing machine factory in Thang Long II Industrial Park in the northern province of Hung Yen.

With an estimated investment of US$32 million wholly funded by the Japanese corporation, the latest factory was built on an area of 52,000 square metres, with a total capacity of producing 600,000 washing machines per year.

Addressing the March 20 inauguration ceremony, PAPVN Director General Mitsuhiko Nakamura said that the factory is expected to supply 50 percent of its product to the domestic market, with the remainder to be exported to other Southeast Asian markets. The first batch of PAPVN washing machines will be shipped abroad next month, he added

 

[Viet]

First FDI highway project in Vietnam

(VOV) - The Prime Minister has approved the selection of Japan’s Nexco Central Company as the main investor in a project to upgrade the Phap Van-Cau Gie highway project under a build-operate-transfer (BOT) contract.

The Ministry of Transport (MoT) described it as the highly feasible project undertaken by the Japan International Cooperation Agency (JICA).

It said Nexco is much more experienced than local companies in terms of financing, management experience and maintenance of infrastructure facilities. The only snag in the negotiation process is that Nexco aims for a profit of 23 per cent higher than from other highway projects in Vietnam.

 

[Viet]

S.Korea's KEPCO wins $2.3 bln VN power plant deal


TUOITRENEWS A+ A-
Updated : Fri, March 22, 2013,10:13 AM (GMT+0700)

The Korea Electric Power Corp (KEPCO) and a Japanese firm have reached a US$2.3 billion deal to build a thermal power plant in Vietnam, the state-run South Korean company said on Friday.

The venture, an international consortium between KEPCO and Japan-based Murabeni Corp, is expected to establish a coal-fired power plant under a build – operate – transfer contract.

Each of the corporations will have a 50 percent stake in the power plant, which is expected to have a generation capacity of 1.2 million kilowatts by 2018, according to Yonhap News Agency.

The consortium will operate the plant for 25 years starting in 2018, a period during which KEPCO expects to earn $15 billion in revenue because, “the Vietnamese government has agreed to purchase all electricity generated by the plant under a separate agreement,” Yonhap quoted the company as saying.

The plant will then be transferred to the Vietnamese government.

The venture may secure financing from Korea Eximbank and the Japan Bank for International Cooperation, while Doosan Heavy Industries & Construction is expected to be the main builder, according to Reuters.

"The deal itself marks a significant achievement by KEPCO as it was won in a competition against leading global companies, such as France's EDF group and Japan's Mitsui," KEPCO said in a statement.

The Vietnam order will help bring KEPCO's overseas generation capacity to more than 5.86 million kilowatts in 18 countries, according to the company.

 

[Bhai Zakir]

Best of luck to the friend Vietnam, long live India-Vietnam friendship.

 

[Viet]

US provides US$3 million to help disabled people


Updated : 3/22/2013 10:45:11 AM

The United States Agency for International Development (USAID) will provide US$3 million to help disabled people in central Da Nang city and some other localities in Vietnam.

To this effect, an aid agreement for the Programme of Comprehensive and Integrated Support to People with Disabilities for the 2013-2015 period was signed between USAID and Da Nang representatives in the city on March 21.

 

[Viet]

Vietnam supports Lao transport infrastructure


Updated : 3/16/2013 6:21:12 PM

(VOV) -Chitachareun, an Overseas Vietnamese company in Laos, signed a US$52 million contract with Huoaphanh province on March 15 to build road No.3204 in the locality.

The five metre wide asphalt road will stretch 61km from Xontay mountain village to the Xopcop border gate near Vietnam’s Son La province.

The same day, Civil Engineering Construction JSC No.525, under Vietnam’s Ministry of Transport, signed another contract with the Lao Ministry of Public Works and Transport to construct seven bridges in Huoaphanh province, a project using more than US$5.3 million from World Bank support credit.

 

[Viet]

WB backs $250 mln credit for VN economic reform


TUOITRENEWS A+ A-
Updated : Thu, March 21, 2013,11:55 AM (GMT+0700)

The World Bank Board of Directors has approved a credit package to help Vietnam with economic management reforms, the WB Vietnam said on Tuesday.

The Economic Management and Competitiveness Credit for Vietnam (EMCC 1), the first of a series of three operations, provides US$250 million in concessional financing to help increase the country’s productivity and competitiveness, WB Vietnam said in a statement released from Washington.

The EMCC 1 will support reforms in seven policy areas, including the financial sector, fiscal policy, public administration and accountability, state enterprise management, public investment management, efficiency of the business environment, and equity and transparency of the business environment.

 

[ViXuyen]

Vietnam-focused ETF has bounded back in 2013, so far the fund has been up 19%.
VNM: Summary for Market Vectors Vietnam ETF- Yahoo! Finance

 

[Viet]

FDI capital sees sharp rise in March


| VOV | Mar 25, 2013 08:22 am

Vietnam attracted $5.4 billion in foreign direct investment between February 20-March 20, a monthly record figure.

Japan was the largest investor in Vietnam during the first quarter of this year, pouring $3.16 billion into the country. Singapore and the Republic of Korea were the second and third biggest investors, respectively.

 

[Viet]

Samsung starts work on VN’s 2nd plant


TUOITRENEWS
UPDATED : 03/26/2013 12:09 GMT + 7

Samsung Electronics Vietnam Monday broke ground on its second facility in Vietnam -- a US$2 billion handset devices and parts plant in the northern province of Thai Nguyen, around 70km from Hanoi.

This is expected to be the South Korean company’s largest handset plant in the world. The Thai Nguyen plant is expected to produce more than 100 million mobile phones and 1 million digital cameras in the future.

It is included in a high-tech cluster, which is also home to a US$1.2 billion chip making factory.

The complex is expected to generate tens of thousands jobs for locals, contribute tens of billions of US dollars to the country’s annual export turnover, and strengthen the development of the electronic support industry in the northern region of Vietnam.

 

[Viet]

National highway upgrade in Nghe An


Updated : 3/26/2013 11:53:46 AM

National Highway 1A in Nghe An


(VOV) -Prime Minister Nguyen Tan Dung on March 26 attended the ground-breaking ceremony of the Build-Operate-Transfer (BOT) project to expand the National Highway 1A running from Nghi Son to Cau Giat districts in central Nghe An province.

The 34km road expansion will cost VND3.627 trillion sourced from Civil Engineering Construction Corperations No.4 and No. 319 belonging to the Ministry of National Defense.