Airport service firm’s IPO only a week away

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Southern Airport Services Company (Sasco), a major seller of goods and services in Tan Son Nhat airport, plans to offer 31,097,900 shares, or a 23.65 per cent stake, at its IPO at an initial price of VND10,000(0.47 US cent)/share. … [Read more...]

Foreign partners study investment opportunities in Quang Ninh province

Quang Ninh provincial leaders introducing the complex recreation project with casino in Van Don District to partners. (Photo: QNP)

On June 10th, the Imex Pan Pacific Group (IPP Group), together with Australian partners conducted a field trip at the Van Don Economic Zone and studied the planning of the complex recreation project with casino in Van Don District and the Hoang Gia international recreation area in Ha Long City in the northern province of Quang Ninh. Receiving the delegation, Nguyen Van Thanh, Deputy Chairman of the Quang Ninh Provincial People's Committee presented an introduction to the projects. Accordingly, the complex recreation project with casino in Van Don district was designed for an area of 1,800 hectares. Approved by the Government, the project will be constructed with an expected capital of some USD4-5 billion. It is considered to be a key tourism project playing a strategic and breakthrough role in boosting development in the district. … [Read more...]

Giant fast food restaurant chains keen on firm footholds in Vietnam

Vietnam's fast-food franchise market is growing robust with the entrance of an array of foreign players, the Vietnam Investment Review (VIR) reported. McDonald's has just opened its first restaurant in Vietnam which is capable of accommodating 350 people in-house as well as its to-go services. In the first month of operation, the restaurant served more than 400,000 customers and sold 61,980 Big Macs, the company's flagship burger. According to Nguyen Bao Hoang, founder of food and travel services firm Good Day Hospitality - the Vietnamese franchise holder of McDonald's in Vietnam, the customer numbers have surpassed expectations and they plan to open second restaurant in Ho Chi Minh City in very near future. Hoang has ambitious plans to spread the chain across Vietnam in a similar fashion to Singapore which has 100 McDonald's restaurants, and the Philippines with 400. Coffee giant Starbucks has also advanced into Vietnam under an agreement with Coffee Concepts Vietnam, a … [Read more...]

Fast-food market sees growth of Grade A players

McDonald's, the world's leading hamburger franchise, just opened its first restaurant in Vietnam capable of accommodating 350 people in-house as well as its to-go services.

Vietnam's fast-food franchise market is growing robust with the entrance of an array of foreign players. In its first month open, it served more than 400,000 guests and sold 61,980 Big Macs, the company's flagship burger. According to Nguyen Bao Hoang, founder of food and travel services firm Good Day Hospitality - the Vietnamese franchise holder of McDonald's in Vietnam, the customer numbers have surpassed expectations and they are planning a second restaurant, also in Ho Chi Minh City, in the very near future. Hoang has ambitious plans to spread the chain across Vietnam in a similar fashion to Singapore which has 100 McDonald's restaurants, and the Philippines with 400. Coffee giant Starbucks has also advanced into Vietnam under an agreement with Coffee Concepts Vietnam, a branch of Hong Kong's Maxim Group. The first outlet was launched in early February 2013. Since, it has expanded to four stores and has scaled up efforts for their upcoming launch in Hanoi, … [Read more...]

HCM City: ideal market for high-end fashion brands

Vietnam may soon become a fashionista paradise with scores of leading fashion retailers vying against one another to distribute their brands in the fast growing country, the Vietnam Investment Review (VIR) has reported. Chairman of Luala Fashion Company Do Ngoc Minh just inaugurated their second store in Ho Chi Minh City. He forecasted that Vietnam will soon be a leading destination for fashionable shoppers from throughout the region. Foreign luxury retailers would rather work together to grow their collective market share quickly, than catfight over mere metres of sales space. Luala's second store is over 300 square metres and has occupied a location previously held by Gucci and neighbouring the Milano store. Luala was founded in 2006 and is managed by DX Fashion Group, it opened its first store in Hanoi and specialises in distributing numerous international fashion brands. In May last year, Luala merged with Milano with the aim of puting a firm foothold in the southern … [Read more...]

Vietnam dressing up

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Vietnam may soon become a fashionista paradise with scores of leading fashion retailers vying against one another to distribute their brands in the fast growing country. Chairman of Luala Fashion Company Do Ngoc Minh just inaugurated their second store in Ho Chi Minh City. He forecasted that Vietnam will soon be a leading destination for fashionable shoppers from throughout the region. Foreign luxury retailers would rather work together to grow their collective market share quickly, than catfight over mere metres of sales space. Luala's second store is over 300 square metres and has occupied a location previously held by Gucci and neighbouring the Milano store. Luala was founded in 2006 and is managed by DX Fashion Group, it opened its first store in Hanoi and specialises in distributing numerous international fashion brands. In May last year, Luala merged with Milano with the aim of establishing a firm foothold in the southern market. Minh said that location is … [Read more...]

The Vietnamese billionaires making their fortune from scratch

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VietNamNet Bridge - Vietnam has no lack of fabulously wealthy individuals. Some came by their fortunes the easy way - through inheritance. But far more fascinating are the self-made ones, the ones who started with little more than the shirts on their backs and built up empires through their own wits, ambition, and perseverance. VietNamNet decided to have a look at some of these self-made billionaires. Mr Pham Nhat Vuong Vuong was the first Vietnamese to land in Forbes' list of the world's billionaires in 2013. Vuong has for the fourth time topped the list of the Vietnamese richest stock millionaires. Doing business from scratch many years ago, Vuong might not have imagined that he would one day build up a major group with total value of VND75 trillion, in which he holds VND19.7 billion worth of shares. Vingroup now employs thousands of direct and indirect workers. Mr Trinh The Duc Duc was an empty handed poor worker, but he always still entertained the dream of getting rich … [Read more...]

Giordano targets early retail entry

A joint venture will propel Giordano into Vietnam's retail sector in the near future

Vietnam continues to attract foreign investors as new players join the burgeoning retail market. Richard Leech, executive director CBRE told VIR that the size and youthfulness of the population, growth in middle income earners and rapid urbanisation would make Vietnam an attractive investment option, especially in relation to the retail sector. Giordano International, Hong Kong's leading fashion apparel and accessories retailer in mid-November signed a joint venture agreement with Yeo Boon Liang and Vietnamese representative Nguyen Thanh Tung on opening retail outlets in Vietnam under the Giordano and BSX brands. Under the agreement, Giordano International will hold a 60 per cent stake in the $600,000 joint venture. Liang and Tung will each hold 20 per cent. However, the opening date for their first outlet has not yet been made public. Peter Kwok Kuen Lau, chairman of Giordano International Limited said that Vietnam was an emerging market with significant potential in terms … [Read more...]

Vietnamese firms absent from food-chain market?

A Vietnamese banh mi store in HCM City. The invisible war

VietNamNet Bridge - The fast food market has formed in Vietnam, with a series of foreign food chains. Why don't we see many local brands? Fast-food chains seem to be not affected by economic downturn in Vietnam when we see a series of strong brands having entered and are about to enter Vietnam. The large market with 90 million people and the high percentage of population of under 30 is very attractive to domestic and foreign investors. The second factor contributing to the attractiveness of the fast food market is that food is one of the four basic needs of humans (food-drinks-accommodations-traveling). The industries satisfying these requirements seem to be less affected by economic recession. In addition, the gloomy real estate market in Vietnam has made the rent for retailing spaces much cheaper than the previous years. This market is attractive but is it fully pink or not? That question is a difficult problem for food chain businesses. The first challenge comes from the … [Read more...]

Dunkin’ Donuts enters Vietnam

(VOV) - Dunkin' Donuts, an American global doughnut company and coffeehouse chain based in Canton, Massachusetts, has opened a restaurant in Ho Chi Minh City, marking its debut in Vietnam. This is the result of a franchise deal signed in early 2013 between Dunkin' Donuts and its partner Vietnam Food & Beverage Services Co. Ltd. (VFBS) under the Imex Pan Pacific Group (IPP Group). At the inaugural ceremony, John Varughese, Vice President of Dunkin' Brands in the Middle East and Southeast Asia and Australia, revealed a Hanoi store will open doors to doughnut and coffee connoisseurs in the coming months. Dunkin' Donuts has established 10,800 restaurants across the globe, including nearly 900 in the Philippines, 300 in Indonesia, and 240 in Thailand. … [Read more...]

Italy’s Autogrill ready to serve tables in Viet Nam

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The Hanoitimes - Italy's Autogrill, a global leading firm in the travel dining sector, said it would open more than 80 points of sale in Viet Nam's main airports through a joint venture with Imex Pan Pacific Group. The joint venture - Autogrill VFS F&B Company - was set up with Viet Nam Food and Beverage Services Company, a member Imex Pan Pacific (IPP), a huge food and beverage provider in Viet Nam. The new company will operate its food and beverage business consisting of 28 points of sale that IPP already operates at Da NangAirport, Ho Chi Minh City's TanSonNhatAirport, and PhuQuocAirport on PhuQuocIsland, a tourism hub popular among international visitors. An additional six points of sale will be starting operations at Ha Noi's NoiBaiAirport in the second half of the year. Autogrill said that after China and India, Viet Nam expected to see the fastest growth in terms of passenger traffic, at an average of 8.6% till 2020. To meet this rising demand Viet Nam's government would … [Read more...]

BUSINESS IN BRIEF 15/4

Steel consumption increase 'shortlived' Steel consumption in March climbed by nearly 80 per cent to 450,000 tonnes over the previous month, according to the Viet Nam Steel Association (VSA). The association told Viet Nam News yesterday that its members produced about 448,000 tonnes of steel in March. "Some people say this is a good sign for the industry. We, however, do not agree," said Nguyen Tien Nghi, VSA deputy chairman. Nghi said that sales in March last year was about 522,000 tonnes. "Month-on-month, it jumped this year because February was a short month, with a long holiday for Lunar New Year," he said. In addition, after a long period of stagnancy, many traders had decided to buy steel to increase their stockpile. Other experts said consumption climbed in March thanks to a lower interest rate on bank loans, which fell by 1 percentage point to 11 per cent on March 26. According to Nghi, about 27.4 per cent of sales came from State-owned companies, while 20.8 per cent were … [Read more...]

New-look Trang Tien Plaza opens for business

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Phuong Thao Located in the heart of the capital city, the center has spent over US$20 million in the facelift, featuring 112 luxury brand names in high-end fashion, watches and perfume such as Christian Dior, Cartier, Burberry and Louis Vuitton. Up to 95% of retail space in this project is occupied. Trang Tien Plaza is also a venue for culinary culture of Vietnam and other countries such as Singapore, Italy and Korea. The commercial center also includes well-known children's fashion brands. The renovation project was initiated by the State Capital Investment Corporation and Hanoi Trade Corporation, which hold 90% and 10% stake in the shopping center respectively. Imex Pan Pacific Group carried out the project. The center has an upgraded interior while its exterior architecture remains unchanged. The center restarted normal operation on January 30 before the official inauguration last week. … [Read more...]

Italy’s Autogrill ready to serve tables in Vietnam

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Italy's Autogrill, a global leading firm in the travel dining sector, said it would open more than 80 points of sale in Vietnam's main airports through a joint venture with Imex Pan Pacific Group. The move showed the group's ambitious growth strategy in emerging economies, Autogrill said. "With this operation we are entering a country of high growth potential and strategic importance for further development, also in other travel channels in Vietnam and emerging markets in Asia," Autogrill CEO Gianmario Tondato Da Ruos said. The joint venture - Autogrill VFS F&B Company - was set up with Vietnam Food and Beverage Services Company, a member Imex Pan Pacific (IPP), a huge food and beverage provider in Vietnam. The new company will operate its food and beverage business consisting of 28 points of sale that IPP already operates at Danang Airport, Ho Chi Minh City's Tan Son Nhat Airport, and Phu Quoc Airport on Phu Quoc Island, a tourism hub popular among international … [Read more...]

Individual honored for role in VN-Philippines air route

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HCMC - Vietnam Airlines and Philippines Airlines last Friday celebrated the 25th anniversary of the launching of direct flight connecting the two countries and honored an individual contributing to the opening of the flight and diplomatic ties. The person who was honored is Johnathan Hanh Nguyen. He used to live in the Philippines and served as chief representative of Philippines Airlines in Indochina but is now general director of Imex Pan Pacific Group. Guests look at photos about the opening of the HCMC-Manila direct fl ight. Such photos are displayed on the sidelines of the 25th anniversary of the direct fl ight held last Friday in HCMC - Photo: Dao Loan Before 1985, when the direct flight between Vietnam and the Philippines has yet to be opened, passengers from both countries had to transit in Bangkok, Thailand. The direct flight connecting Manila in the Philippines with HCMC was opened on June 1, 1987, with big contributions of Johnathan Hanh Nguyen and Imex Pan Pacific. … [Read more...]

Philippines, Vietnam foster aviation cooperation

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Vietnam Airlines (VNA) and Philippines Airlines (PLA) held a ceremony on June 1 in Ho Chi Minh City to celebrate 25 years of Vietnam-Philippines aviation cooperation. US, Vietnam boost aviation cooperation Addressing the ceremony, Minister of Transport Dinh La Thang said that the establishment of direct flights between the two countries marks a milestone in bilateral cooperation relation and contributes to strengthening the economic, trade and tourism cooperation between both countries. He urged the two airlines to continue boosting cooperation, aiming to gain new achievements, promote economic development and open more opportunities for both countries to nurture their bilateral relationship. Over the past years, cooperation between the two nations has seen significant growth. Despite the economic crisis, the aviation market between Vietnam and the Philippines served more than 107,000 passengers in 2011, an increase of 12 percent compared to 2010. On this occasion, … [Read more...]

Labour orders awarded to overseas Vietnamese

Several overseas Vietnamese and organisations were praised for their significant contributions to the country's development at the annual year-end gathering organised for overseas Vietnamese in HCM City on Jan. 17. Nearly 1,000 overseas Vietnamese who just came back to Vietnam to celebrate Tet attended the event. HCM City leaders awarded Labour Orders to two overseas Vietnamese and a company in HCM City. Municipal Party Committee Secretary Le Thanh Hai and Chairman of the city's People's Committee Le Hoang Quan, on behalf of the State and Government leaders awarded merit certificates to outstanding people and organisations. Jonathan Hanh Nguyen, chairman and general director of Imex Pan-Pacific Group, was awarded the Labour Order - second class, and Vietnamese American David Trung Duong, General Director of the Vietnam Solid Waste Treatment Limited Company, awarded the Labour Order - third class. Duong's company was also awarded the Labour Order - third class for its … [Read more...]

BUSINESS IN BRIEF 10/10

Plans in place to ensure price stability The industry and trade sector plans to attempt market regulation in stabilising domestic prices by the end of 2011. The statement was made by an official from the Ministry of Industry and Trade during an online meeting yesterday. Deputy Minister of Industry and Trade Le Duong Quang said that, in order to achieve results, a price fever leading up to Tet had to be avoided at all costs. He added that the domestic commodities market would experience complicated fluctuations by the end of the year, affected by factors such as inflation. To reach an annual CPI jump of 18 per cent, balancing supply and demand would be a tough job, necessitating cooperation in following market developments, he explained. Market watch would help regulate the supply and demand of goods and stabilise markets to ensure effective production. Relevant offices are set to promote market controls to ensure the supply of essential goods including petrol, … [Read more...]

Southern airport services company plans to list on southern bourse

The Southern Airport Services Join Stock Company intends to list on the Hochiminh Stock Exchange this year. SASCO, which held an IPO last September at the exchange for an average price of 19,330 VND and has a chartered capital of 1.315 trillion VND (61 million USD), is now wrapping up procedures for listing on UPCoM in the second quarter. The Government owns 51 percent of the company, leaving the rest to strategic partners (almost 24 percent), the public and employees. The company's interests include duty-free shops, foreign currency exchange, transportation and others. This year it expects to earn a profit from operations of almost 165 billion VND, rising to 176 billion VND in 2016. Last year's earnings were 86 billion VND.-VNA … [Read more...]

Vietnam’s airport manager slated for IPO

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Noi Bai International Airport in Hanoi. Photo: AFP The initial public offering of the state-owned Airports Corporation of Vietnam (ACV) is expected to occur during the second quarter of 2015, the Thoi Bao Kinh Te Saigon Online reported. The paper reported that the state plans to maintain 75 percent ownership of the company, which has an estimated value of roughly US$1.74 billion. The ACV currently operates 22 international and domestic airports across Vietnam. The measure is aimed to raise funds for the Long Thanh International Airport, which is scheduled to be built this year some 40 kilometers (25 miles) northeast of Ho Chi Minh City, according to Minister of Transport Dinh La Thang. The airport will require around $5.6 billion to complete the first stage of its development project by 2020 -- around 53 percent of which will come from the state budget and official development assistance (ODA) loans. The new airport is expected to receive 25 million passengers by 2020 and double … [Read more...]