BUSINESS IN BRIEF 21/2

Restructuring of State-run firms faces challenges Restructuring of a number of State-owned enterprises has been delayed due to problems of redundant workers, collecting past-due debts and writing down losses, said deputy head of the Government Office and vice chairman of the Steering Committee on Business Renovation and Development, Pham Viet Muon. Muon told a meeting held here Wednesday by the Government Office and the World Bank that the process of equitising State-owned enterprises (SOEs) … [Read more...]

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Vietnam-Angola Business Forum opens

Vietnam will do its utmost to further promote political and economic relations with Angola and create the best conditions for businesses from the two countries to cooperate with each other. Vice State President Nguyen Thi Doan made the commitment at the Vietnam-Angola Business Forum held in Hanoi on February 16, with the aim of further fostering trade and investment cooperation between the two countries. Ms Doan emphasized that both Vietnam and Angola are open markets with great potential, … [Read more...]

Japan needs more Vietnamese workers

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Japan is keen to receive around 10,000 Vietnamese workers every year, said the Japanese International Training Cooperation Organisation (JITCO). After the disastrous earthquake and tsunami in 2011 ravaged the country, Japan has faced a shortage of workers, especially in the agriculture and seafood processing sectors. The numbers of workers in both sectors have fallen dramatically due to the repatriation of a large number of Filipino and Chinese workers, the JITCO has said. Vietnam's … [Read more...]

Japan offers jobs for more Vietnamese trainees

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Representatives of the Japanese International Training Cooperation Organisation met with various Vietnamese companies on Feb.16 to offer more opportunities for Vietnamese trainees to work in Japan. The Japanese Organisation will be offering Vietnamese trainees signed contracts and the opportunity to work overtime during the first year. Japan has amended its regulations on management of immigrants and expat workers that make it far easier for Vietnamese trainees to work in Japan. The new … [Read more...]

Japan to Receive More Vietnam Trainees: JITCO

Japan will give more opportunities for Vietnamese trainees in the years to come, said an official of the Japanese International Training Cooperation Organisation (JITCO) at a seminar in Hanoi Jan 19

The event held by the Vietnamese Ministry of Labor, War Invalids and Social Affairs and JITCO was a good chance for local businesses and Japanese partners to boost ties. Japan has announced an amended law on the management of immigrated and migrated workers. The law is expected to facilitate the flow of Vietnamese trainees to Japan in the future, the official added. The East Asia country started to receive Vietnamese trainees in 1992. The Southeast Asia nation has sent 35,000 trainees to the … [Read more...]

More opportunities for Vietnamese trainees to work in Japan

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New regulations on training included in Japan's amended immigration law have made it easier for Vietnamese trainees to work in the country. At a seminar in Hanoi on October 6, Shotaro Tochigi, President of the Japanese International Training Cooperation Organisation (JITCO), said that the newly issued law has shortened the required training duration from one year to 1-2 months. The law also allows trainees to immediately sign labour contracts with Japanese enterprises instead of after one … [Read more...]

More chances for Vietnamese trainees to work in Japan

New regulations on training included in Japan's amended immigration law have made it easier for Vietnamese trainees to work in the country. At a seminar in Hanoi on October 6, Shotaro Tochigi, President of the Japanese International Training Cooperation Organisation (JITCO), said that the newly issued law has shortened the required training duration from one year to 1-2 months. The law also allows trainees to immediately sign labour contracts with Japanese enterprises instead of after one … [Read more...]

Major transport projects to receive tough scrutiny

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At least 15 major transport projects will be carefully audited for the quality of their management and construction. … [Read more...]

US$400 million to build electricity plant

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A plasma converted gas plant to produce electricity, at a total cost of US$400 million, will be built in HCM City by Australian Trisun International Development Company. Gavin Holland, Technology Director of the Trisun International Development, said that the company will co-ordinate with foreign partners to build a production line in Phase 1, with a design capacity of treating 2,000 tonnes of garbage per day to generate 1.6 million kWh of power, of which 45 percent will be used by the … [Read more...]

Waste-to-energy factory to be built in HCMC

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A plasma converted gas factory to produce electricity, at a total cost of US$400 million, will be built in HCMC by Australian Trisun International Development Company, according to a conference held on February 15th by the Committee for Overseas Vietnamese in HCMC. Gavin Holland, the Technology Director of Trisun International Development, said that US$400 million, from the Company's budget and its foreign partners, will be used to build a production line in Phase 1, with capacity of treating … [Read more...]

Vietnam-India two-way trade increases rapidly

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Two-way trade between Vietnam and India has increased almost 20-fold during the past decade, the Indian Consul General has said. For illustration purposes only Indian Consul General in Ho Chi Minh City, Abhay Thakur reported this news at a get-together to celebrate the 62nd anniversary of the Republic of India, in Ho Chi Minh City on Feb. 16. Bilateral trade rose from US$200 million in 2000 to over $1.2 billion in 2006, $2.7 billion in 2010 and $3.9 billion in 2011. Abhay Thakur affirmed … [Read more...]

Sensible choices will prime market

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Industry experts are predicting that 2014 will continue to see raised liquidity in the real estate market, particularly in the low and medium-cost housing segment. VIR talked with some industry players to hear their predictions for the new year, and which government policies could affect the industry's fortunes. Tran Nhu Trung Deputy director of Savills Hanoi The most promising aspect of the real estate market in 2013 was the quarter-on-quarter increases in liquidity. The number of … [Read more...]

Few takers for foreign currency loans

by Compiled by Le Hung Vong Unlike in past years when there was great demand from companies for foreign exchange to pay for imports, this year most do not want to borrow money, making it hard for banks to find customers. Do Duy Thai, general director of Thep Viet Co., said normally steel producers increase imports of feedstock from early December to prepare for production in the next four months. But the lower consumption of steel products in 2013 had led to high inventory levels, and as a … [Read more...]

Realty firms pin hopes on better business in 2014

A completed high-end apartment project in An Phu Ward in HCMC's District 2 - Photo: Dinh Dung

Dinh Dung According to Le Chi Hieu, general director of Thu Duc Housing Development Corporation, or Thuduc House, housing prices have become much more stable in 2013 and transactions have increased steadily over the year's quarters, which is seen in not only low-cost home projects but also middle- and high-class segments. A recent market survey conducted by Savills Vietnam indicates that the total transactions in the market this year are much higher than that of 2012, leaping 45% … [Read more...]

BUSINESS IN BRIEF 26/8

Chu Lai economic zone looks to future Deputy Prime Minister Nguyen Xuan Phuc has urged central Quang Nam province work harder in its efforts to make Chu Lai a major economic zone and thus attract more national and international investment projects. Deputy PM Phuc made the remarks at a ceremony on August 17 to mark the 10th anniversary of the zone, which is situated in Nui Thanh district, Quang Nam . After a decade of operation, Chu Lai EZ has granted permission for 89 projects with a total … [Read more...]

Domestic investors aggressive in realty M&A deals

Thuy Ngan In early 2013, Thu Duc Housing Development Corporation announced to transfer its entire stake worth VND80 billion in Hanoi City-based Dong Mai project. Hoang Quan Real Estate Company has also announced to acquire parts of Nam Hiep Thanh staff housing project in Phu My new urban area in Ba Ria-Vung Tau Province. Dat Xanh Group has also strongly participated in the M&A market, acquiring two apartment projects in HCMC earlier this year. According to a representative of Dat Xanh, … [Read more...]

Land plots lure buyers with flexible payment scheme

Houses are under construction at Phuoc Long Spring Town in HCMC's District 9 - Photo: Dinh Dung

Dinh Dung Although the value of each land plot is not high, investors allow their customers to pay by installment to relieve their financial burden. Some project owners even accept a monthly installment of less than VND20 million. Kim Oanh Real Estate Company is offering land plots at its Green Life City in Dong Nai at VND320 million per unit with an 18-month payment schedule. The company in the past seven months has sold 100 land plots of this project. The 26-hectare Green Life City … [Read more...]

BUSINESS IN BRIEF 20/5

Nutrition industry grows well: Nielsen Despite the continued slowdown in the economy, Vietnam's nutrition industry saw a robust growth in the last 12 months, and local consumers still rate health as a major concern, only behind the economy and job security, according to findings from Nielsen's Health and Nutrition Forum in HCMC on Thursday. According Nielsen, in spite of the softer economic numbers, certain categories that are perceived as healthy or nutritious by Vietnamese consumers are … [Read more...]

Developers woo homebuyers via interest-free plans

Dinh Dung Many housing developers this year have actively launched their products since early this year instead of keeping a 'wait-and-see' attitude as seen last year. Their sales policies focus on seeking affordable financial solutions for homebuyers. For instance, Thuy Loi 4A Realty Investment Joint Stock Company last Saturday introduced the model apartment of The Hyco4 Tower project located on Nguyen Xi Street in Ward 26 in HCMC's Binh Thanh District. The realty developer also marketed … [Read more...]

Apartment market turns more bustling

Dinh Dung Focus on progress Dozens of apartment projects from low- to high-end segments are now on offer, with payment extensions for homebuyers. Most of these projects are near completion, and some already have condos available for occupation. Yip Hoong Mun, deputy CEO of CapitaLand Vietnam, remarked the market was lacking in confidence among homebuyers. In addition to price, homebuyers are concerned about reputation of investors and their commitment to project progress. The Singaporean … [Read more...]