“Human Resource- A Key to Success”

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This affirmation is made by Mr Nguyen Van Toan, Chairman and CEO of Dung Lac International Trade JSC. This is a core value of the company to overcome difficulties and build its brand name 17 years after establishment and 4 years since becoming the authorised agent of Hyundai Thanh Cong Vietnam (HTC) in Nghe An. The precursor of the Dung Lac International Trade JSC and the authorized agent of Hyundai Vinh is Dung Lac Trade and Service Ltd.,Co, which was founded as an auto repair shop on June 16, … [Read more...]

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BUSINESS IN BRIEF 21/6

Tonkin Gulf oil exploration accord signed The fourth amended agreement for the Viet Nam-China Joint Exploration Accord for the Bac Bo (Tonkin) Gulf, signed by PetroVietnam and the China National Offshore Oil Corporation (CNOOC) yesterday expanded the Defined Area, crossed by the demarcation line, for joint exploration to 4,076sq km from 1,541sq km, covering two equal parts on each side, and extended the validity of the Joint Exploration Accord to the end of 2016. The Viet Nam-China Joint … [Read more...]

BUSINESS IN BRIEF 16/6

Revitalising the property market Local and foreign experts discussed prospects for revitalizing the suffering property market at a seminar in HCM City on June 13. Deputy Minister of Planning and Investment Dang Huy Dong reiterated the government's policy of developing the real estate market as part and parcel of the country's market economy and an important investment channel. To meet its socio-economic development goals for 2013, the government has introduced a number of solutions to … [Read more...]

Hiring foreign managers now in fashion

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VietNamNet Bridge - The appointment of foreigners into the key posts at Vietnamese businesses has always been the "hot news" for the public. However, foreign CEOs do not always bring the things businesses expect. The wave of hiring foreign CEOs A foreigner, David Alexander Newbigging, has been nominated for the post of the member of the board of directors of REE (Refrigeration Engineering Enterprise). He does not hold REE shares now, but has been nominated by the big shareholder who holds … [Read more...]

It’ll take 10 years to treat HVS’ nix particles

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VietNamNet Bridge - It will take Khanh Hoa province at least 10 years to treat the "mountain" of one ton of nix particles - the waste from the Hyundai - Vinashin (HVS) shipyard. How to treat the nix particles generated during the ship repairing process has caused a headache to the Khanh Hoa provincial authorities. The local authorities were once convinced that the nix particles, or copper slag, would be wholly treated once the Ninh Thuy nix particle treatment factory with the … [Read more...]

Pulled project leaves piles of nix waste behind

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The management board of Khanh Hoa-based Van Phong Economic Zone says they do not know what to do with a million tons of nix waste left behind after the plug was pulled on the construction of a plant to treat the waste. "It’s easy to cancel a project, but how to handle the mountain of nix waste is a big headache," said Mai Van Thang, deputy director of the province’s Department of Natural Resources and Environment, referring to the license withdrawal of the nix waste treatment plant of … [Read more...]

BUSINESS IN BRIEF 14/12

PM: Restructuring improves State businesses efficiency Restructuring will help State-owned businesses better perform their role in the socialist-oriented market economy and operate effectively with assigned financial resources, said Prime Minister Nguyen Tan Dung. PM Dung made the statement at a conference to review the arrangement and renovation of State-owned enterprises (SOEs)during the 2001-2010 period, in Hanoi on Dec. 8. He said relevant agencies have, over the decade, built an … [Read more...]

BUSINESS IN BRIEF 2/11

Vietnam-Cambodia Enterprises Club boosts bilateral trade The Standing Committee of the Vietnam-Cambodia Friendship Association convened a conference in Hanoi on October 22 to discuss the activities of the Executive Committee of the Vietnam-Cambodia Club of Enterprises. The club has grown considerably over the past three years, from 60 members to nearly 200 at present, Secretary General of the Vietnam-Cambodia Friendship Association Ly Quang Bich told the conference. The club has become a … [Read more...]

The Social Economic Report in 2008

1. Industrial production The value of industrial production (constant prices in 1994) estimated annual 12,890 billion VND, up 13.8% over 2007, in which the central industrial state 551 billion, up 40.98%, State Governmental Industrial 2886 billion decreased by 7%, industrial foreign-invested 2903 billion, up 16.13%, non-state industry 6550 billion, up 22.84%. Because prices of input raw materials are rising, interest rates on bank loans to many businesses reduce production or manufacturing … [Read more...]

Thousands of Imported Cars Stuck at Ports

The Border Customs Office of Cai Mep Port under Ba Ria - Vung Tau province said as many as 1,700 automobiles are being parked at Cai Mep Port. The vehicles were imported by Hyundai - Thanh Cong Company in March 2012 but remained unsold. Other companies in Ninh Binh, Haiphong and Hanoi are stockpiling over 1,000 cars because of slow sales. Growing inventories are burdening car companies across the nation. According to the Vietnam Automobile Manufacturers Association (VAMA), car sales sharply … [Read more...]

Authorized automobile importers puzzled with new regulations

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VietNamNet Bridge - The newly-issued Circular 20, which is thought to kill private car dealers and bring benefits to authorized automobile importers, turns out to be not welcomed by the authorized importers. Right after the Circular 20 was issued, private car dealers voiced their concern that they would have to shut down business because of the overly complicated procedures. If so, the car market would be dominated by authorized importers, who would control the market and raise the prices to … [Read more...]

Mid-Autumn Festival for patients

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Hyundai Thanh Cong Vietnam, the National Institute of Hematology and Blood Transfusion and National Hospital of Acupuncture hosted events to present gifts to around 500 patients during the Mid-Autumn Festival. On September 17, Hyundai Thanh Cong Vietnam were present at the National Institute of Hematology and Blood Transfusion and the National Hospital of Acupuncture to organise the "Mid-Autumn Festival for children" contributed to the patients at two national hospitals with the intention to … [Read more...]

Hyundai Thanh Cong Vietnam Auto JSC

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For many years, Hyundai Thanh Cong Vietnam Auto Joint-Stock Company has been well known nationwide in the field of manufacturing and assembling modern motorcars of Hyundai Motor Company, the largest car manufacturer in South Korea Established in June 2009, Hyundai Thanh Cong Vietnam Auto JSC has become the official distributor of tourist, commercial and sports motorcars of the Hyundai Motor Company in Vietnam. Inside the manufacturing plant of Hyundai Thanh Cong Vietnam Auto JSC in Ninh … [Read more...]

8 businesses got car import licenses, more cars arriving

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At least eight businesses have got the car import licenses. A lot of businesses are nearly completing necessary procedures, ready to carry cars to Vietnam. The car market is expected to heat up again after two years of quietness. The Hai Phong Customs Agency has sent to the General Department of Customs and the Ministry of Industry and Trade (MOIT) the list of eight enterprises which can meet the requirements set up by MOIT in the Circular 20. Prior to that, the legal document was thought … [Read more...]

Dong fall sends car prices up

Vietnam Daewoo Motor Co. (Vidamco) and Ford Vietnam announced on Thursday to adjust up their prices following the shocking dong devaluation, two days after Toyota Vietnam as the market leader marked up their products. The State Bank of Vietnam (SBV) last week devalued the local currency by 9.3%. Vidamco has introduced higher prices of most of GM Daewoo auto brands including Spark, Gentra, Lacetii, Cruze, Vivant and Captiva. The highest price increase of over VND53 million goes to Captiva … [Read more...]

Hyundai opens agency, launches car

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HCMC - Hyundai Ben Thanh, a dealer of the South Korean automaker's distributor Hyundai Thanh Cong Vietnam Auto Company, on Wednesday opened a 3S-standard showroom in District 4 in HCMC. The 1,500-square-meter showroom at 360D Ben Van Don Street meets Hyundai's standards for sales, services and spare parts. This is the 20th dealer of Hyundai Thanh Cong Vietnam Auto Company and the biggest showroom of Hyundai in the downtown. Visitors view a Hyundai Genesis at the Hyundai Ben Thanh Showroom in … [Read more...]

Hyundai opens 3S agency in Can Tho

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HCMC - Saigon Can Tho Auto Joint Stock Co., a dealer of the Korean automaker's distributor Hyundai Thanh Cong Vietnam Auto Company, has opened a 3S-standard showroom in the Mekong Delta city of Can Tho. The showroom covering 5,000 square meters on Cach Mang Thang Tam Street, 2km from the city downtown, meets Hyundai's standards for sales, services and spare parts. This is the 16th dealer of Hyundai Thanh Cong Vietnam Auto Company, and the biggest showroom of Hyundai in the Mekong Delta. A … [Read more...]

Hyundai Thanh Cong Vietnam to have a new auto factory

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The Thanh Cong Group's Hyundai Thanh Cong Vietnam Joint Stock Company, an importer of Hyundai compact cars, has completed the construction of an auto factory in the northern province of Ninh Binh. Located on an area of 68 hectares in the Gian Khau Industrial Zone, in Gia Vien District, Ninh Binh Province, the plant was built at a cost of US$80 million, said Nguyen Minh Phu, Hyundai Thanh Cong Vietnam's Deputy General Director, at an opening ceremony for the Vietnam Auto Expo 2010 in Ho Chi … [Read more...]

Hyundai opens 3S agency in city

HCMC - Through the exclusive distributor of Hyundai Thanh Cong Vietnam Auto JSC, the Korean automaker of Hyundai has recognized Tien Phong Auto Co. Ltd. as the first agency in the southern region that meets its 3S standards on sales, services and spare parts. Speaking at the inauguration ceremony of the showroom and maintenance workshop at 66 Pho Quang Street in Tan Binh District, director of Tien Phong Auto Nguyen Thi Phong Lan said she expected the company to sell about 360 imported cars … [Read more...]

Luxury car makers foresee good signs in 2013

The car sales in 2008-2012 and the estimates in 2013

VietNamNet Bridge - Luxury car brand owners have been trying to expand their distribution networks in Vietnam, which means that they believe in the prosperity of the market in 2013. Meanwhile, domestic manufacturers believe that "after the rain in 2012 comes, the fine weather in 2013". A news showroom of Audi's products has been inaugurated on Pham Hung road which is near My Dinh, An Khanh, The Manor and Keangnam, the high grade residential quarters in Hanoi. The business premises on the … [Read more...]