Vietnam Economy Forum

[Viet]

2012 IMF GDP per capita:
Vietnam 1,528

I thought nobody would be interested in VN´s economy, so I stopped postings. I can resume.

 

[Viet]

FDI businesses invest US$8.2 bln in 4 months

Updated : 4/25/2013 4:51:40 PM

(VOV) - Vietnam has attracted more than US$8.2 billion worth of foreign direct investment (FDI) capital in the first four months of this year, up 17 percent on the same period last year.

Of the total, US$4.9 billion came from 341 newly-registered projects, and the remainder was from 121 operational projects that registered to increase their capital, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.

The FIA said Japan ranked first among 37 foreign investors in Vietnam, pouring US$3.6 billion into the country. Singapore came in second with US$2.3 billion, and Russia was placed third with US$1.1 billion.

 

[Viet]

Panasonic to built 4-billion yen factory in Vietnam

Updated : 4/17/2013 10:28:36 AM

(VOV) -Panasonic Appliances (PAPVN) will build a new factory in southern Binh Duong province to produce electrical wires and circuit breakers with a total capitalization of around 4 billion yen.

The Japanese electronics maker plans to produce 27 million electric wires and 12 million circuit breakers and double its capacity by 2018. Circuit breakers will also be sold to Thailand and Japan, Panasonic said.

 

[Viet]

Canon opens first Image Square store in Hanoi

Updated : 4/27/2013 6:06:16 PM

(VOV) - World leading image technology solution provider Canon officially launched its first Image Square store on April 27at the Vincom shopping mall in Hanoi.

The store displays authentic, high-quality Canon products, including its full line of professional imaging products as well as DSLR and digital cameras, lenses and printers.

Image Square is a chain of branded retail stores aiming to bring a range of diverse, high quality,international standardproducts to Vietnamese consumers.

 

[darkhero]

I thought nobody would be interested in VN´s economy, so I stopped postings. I can resume.

Not too much interests, but I do like to see a prosperous Vietnam. If you have time to waste, it is no harm to post some.

BTW, can foreigners buy house/apartment in Vietnam?

 

[Viet]

Amway to spend US$20 million on new plant

Wednesday, April 17,2013,21:36 (GMT+7) The Saigon Times Daily

Amway President Doug Devos announces the new project at the ceremony celebrating Amway Vietnam’s fifth birthday

HCMC – The U.S.-based direct-selling company Amway has announced to invest an additional US$20 million to develop its second plant in Vietnam this year.

Speaking at the fifth anniversary celebration of Amway Vietnam on Tuesday, President Doug Devos said that the new plant would cover over 54,000 square meters at Vietnam-Singapore Industrial Park II in Binh Duong Province.

The plant is expected to be kicked off late this year and put into operation in 2015 with three production lines, producing nutrition supplement products under the Nutrilite brand in the first phase.

The production capacity of the new plant which is estimated to reach US$200 million worth of products per year will be seven times higher than that of the first one located at Amata Industrial Park in Dong Nai Province.

 

[Viet]

Not too much interests, but I do like to see a prosperous Vietnam. If you have time to waste, it is no harm to post some.

Actually VN´s economy is small if compared to others in the region. However, the living standard has risen spectacular in the last two decades and continues to rise. Vietnam today is probably like China 20 years ago.

BTW, can foreigners buy house/apartment in Vietnam?

Yes, but the government has put too much limitations on it. I hope VN will ease further the rules.
Here are some statistics. According to DTZ Research:

#Asking prices for affordable condominiums ranged from VND10.6 million (US$500) to VND20 million (US$950) per sq. m. in Q2 2012
#For middle segment condominiums asking prices ranged from VND20 million (US$950) to VND35.9 million (US$1,700) per sq. m.
#For high-end condominiums, asking prices were above VND35.9 million (US$1,700) per sq. m.

Allowing foreigners buying houses in VN to rescue property market? - News VietNamNet

 

[Viet]

US$5bln funded for Vietnam-Laos express railway project

Updated : 4/15/2013 3:38:02 PM

Giant Consolidated Limited has received US$5 billion of financial assistance from the New Zealand financial institute Rich Banco Berhad to fulfill the construction of a 220km high-speed railway, connecting Savannakhet province with Lao Bao Border Gate on the Laos-Vietnam border.

The US$5 billion Fund Syndication Agreement for the Savannakhet-Lao Bao Railway Project was signed in Vientiane last week, according to the Lao New Agency KPL.

The project is designed to facilitate the transport in Laos and reduce logistic cost for freight forwarding companies, said Mohammad Fadzwi, Chairman of the Giant Consolidated Limited, adding that it will help turn landlocked Laos into a land-link country.

Savannakhet is located on the East-West Corridor linking Thailand, Laos and Vietnam.

 

[visom]

I thought nobody would be interested in VN´s economy, so I stopped postings. I can resume.

Nah Viet keep posting! This thread is why I visit this forum regularly

 

[NiceGuy]

Keep .posting Viey bro.l usually read VN economy in VNese, but l've read it in E since ur first post here

 

[Viet]

GE investing in Vietnam


Updated : 5/3/2013 12:07:05 PM

GE Vietnam

(VOV) - The first General Electric’s Technical Design Centre in HCM City will be put into operation by the end of this year, according to GE Group’s Oil and Gas Company.

GE Group Vice President, John G.Rice said that the centre will recruit 200 employees for the long-term development of the oil and gas industry in Vietnam and the region.

The group will build a factory in the northern city of Hai Phong to produce wind turbine components for ASEAN countries, he added.

 

[Viet]

Work begins on HOSE data centre

Updated : 5/4/2013 11:33:01 AM

Ho Chi Minh City Stock Exchange


(VOV) - Construction of a data backup centre for the Ho Chi Minh Stock Exchange (HOSE) in Quang Trung Software Park got underway on May 3.

The nine-storey centre will cover 5,000 square metres and is being built at a cost of VND 300 billion (US$14.3 million). Its total floor space will be 16,000 square metres when it is fully operational.

According to Chairman of the HOSE Board of Directors, Tran Dac Sinh, this will be the largest and most up-to-date data backup centre in Vietnam, which will help the stock market operate stably. build domestic and foreign investors’ confidence, and make the HOSE a modern stock exchange comparable to others in the region and the world.

 

[Viet]

Gazprom to Drill Vietnam Offshore Gas in June

16:33 18/04/2013
RIA Novosti

MOSCOW, April 18 (RIA Novosti) – Russian energy giant Gazprom plans to start gas production off Vietnam’s coast in June, Gazprom Deputy CEO Vitaly Markelov said on Thursday.

In 2012, Gazprom received stakes in developing Blocks 05-2 and 05-3 in the southeastern part of the South China Sea. Two gas condensate fields have been opened in the blocks, Moc Tinh (05-3) and Hai Tchach (05-2 and 05-3) with reserves estimated at 55.6 billion cubic meters of gas and 25 million tons of gas condensate.

The deposits are located some 320 km from the Vung Tau coast area. The Nam Con Son underwater gas pipeline is in close proximity to the blocks. The deposits are 100-135 meters deep water.

“It is planned to build 16 exploitation wells to develop the deposits. Currently, the project is at the deposit development infrastructure stage. Work continues to build the fourth exploitation well at the WHP-MT1 extracting platform (the Moc Tinh deposit). Gas extraction is expected to start in June 2013,” Markelov told Gazprom magazine.

 

[Viet]

US, Vietnam cooperate in promoting Lower Mekong Initiative


Updated : 5/2/2013 1:19:15 PM

Vietnam embassy in Washington

(VOV) -Vietnam and the US are set to promote the Lower Mekong Initiative (LMI) at a seminar jointly held by the Vietnamese Embassy and the US Department of State in Washington on May 1.

In his speech, Vietnamese Deputy Minister of Foreign Affairs Pham Quang Vinh highlighted LMI contributions to boosting the relations between the US and the Association of Southeast Asian Nations (ASEAN) and building the ASEAN Community by 2015.

The Vietnamese diplomat spoke highly of the role of the US government and businesses in the LMI. Acting Assistant Secretary of State Joseph Yun emphasized that the LMI plays an important part in the US’s re-set policy towards Asia.

In recent years, the US has carried out a number of projects on water resource exploration, irrigation construction, flood control, malaria prevention, and English language improvement with priority given to countries in the Lower Mekong sub-region, he said.

He added that the US administration plans to allocate around US$50 million from its budget for the LMI within three years.

 

[Viet]

Second commodity exchange opens in Vietnam

Updated : 5/4/2013 9:53:08 AM

The Ministry of Industry and Trade on May 3 issued a licence to the INFO Commodity Exchange (INFO) owned by Ocean Group.

The INFO exchange, the second of its kind in the country, will trade in steel, rubber, coffee and agricultural goods.

It will provide a direct channel between manufacturers and the market to end speculation of goods prices. It will regulate commodity standards, link the domestic and international markets, and integrate the Vietnamese goods market globally.