SOE equitization to depend heavily on private capital

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VietNamNet Bridge - A number of big state-owned enterprises (SOEs) are eagerly awaiting significant cash injections from private Vietnamese businesses to carry out their equitization plans. … [Read more...]

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...]

Social News 1/8

Thien Thanh firm's top leaders arrested Three top officials of the HCM City-based Thien Thanh Group Ltd Company were arrested yesterday for allegedly violating Viet Nam's Penal Code's Article 165. The Article deals with deliberate acts against the State's regulations on economic management, leading to serious consequences. The arrested persons are the company's Chairman of the board of directors Pham Cong Danh, 49; former Director General-cum-member of the board of directors Phan Thanh Mai, 43; and another former member of the board of directors Mai Huu Khuong, 31. … [Read more...]

Saigontourist golf tourney raises VND900 million

Saigontourist's deputy general director Le Ngoc Co (R) and representatives of the HCMC Sponsoring Association for Poor Patients, Tuoi Tre Newspaper and the People's Committee of Can Gio District Photo: Hung Le

Hung Le At an award dinner at Caravelle Hotel on Saturday evening, Saigontourist's deputy general director Le Ngoc Co handed over VND600 million to the HCMC Sponsoring Association for Poor Patients to support 500 poor and studious students to continue their study. … [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

Mrs. Lieu

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...]

Investors tend to pour capital into restaurants

Restaurants mushrooming

VietNamNet Bridge - Developing restaurants is believed to be the most lucrative business field and the quickest way to earn money. This explains why more and more investors have injected money there. Japanese styled Kichi Kichi at Vincom building in HCM City is considered one of the most successful restaurants. With the retail premises area of 150 square meters and the rent of $40 per square meter, large enough for 70 seats, the restaurant earns VND1 billion every day. The attractive profit in the business field is the reason behind the appearance of a series of restaurants and chains of restaurants recently, namely Sushi Bar, Tokyo Deli, Coca Suki, Sakura and Oshima, large scaled and heavily invested. Mocgroup proves to be the business which developed most strongly in 2013. Besides the chain of six rice restaurants in HCM City and one restaurant in Hanoi, the business owner is developing three other chains - China Deli, Chili Thai and Rom BBQ. The 12 restaurants of the investor … [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...]

Another American coffee brand enters Vietnam after Starbucks

The core product of Dunkin' Donuts is donuts. But if they can market its different taste for coffee.

VietNamNet Bridge - After Starbucks, another famous coffee brand of American, has begun to enter the Vietnam market, it is Dunkin' Donuts. In Vietnam, according to Dunkin' Donuts, the franchisee is the Vietnam Food & Beverages Services Limited Company (VFBS) of the Imex Pan Pacific Corporation, chaired by Mr. Jonathan Hanh Nguyen. Not disclosing the cost of the franchise because of its commitments with VFBS but according to Mr. John Vurughese, Global Vice President of Dunkin' Brands Group, the criteria for choosing a partner of Dunkin are very strict. Apart from financial ability, the partner must have experience in the management and operation of the restaurant chain. Dunkin' Donuts is a chain of leading coffee and pastries in the world. It is in the top 10 food and beverage brands in America. According to two American market research firms NPD and CREST, Dunkin' Donuts takes the lead in the coffee market in the U.S. with more than 1.7 billion cups of coffee sold per year. … [Read more...]

The quiet war in the sumptuous place

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VietNamNet Bridge - The two giants Openasia Group and IPP have been competing vehemently in the battle of distributing branded goods. However, in the eyes of outsiders, they have been coexisting in peace. A lot of big names in the business circle and celebrities in Vietnam's showbiz were invited to the opening ceremony of Louis Vuitton kiosk at Trang Tien Plaza, the most advantageous position in Hanoi. The event, in the eyes of analysts, showed the great potential of the domestic branded goods market. In 2012, branded goods imports alone accounted for $10 billion of the total import turnover, according to the Ministry of Industry and Trade. The big guys Imex Pan Pacific (IPP) proves to be the biggest distributor of branded goods in Vietnam, which holds 70 percent of the market share, according to the group. With the 20-year experiences in trading duty free goods, IPP has great advantages in persuading the world's luxurious brands to grant it the right to become the exclusive … [Read more...]

Hanoi tops national rowing and canoeing competition

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Nhan Dan Online - Hanoi captured first place with a total of 30 gold, 12 silver and ten bronze medals at the 2013 National Clubs Rowing and Canoeing Tournament, which officially concluded last Friday in the central coastal city of Da Nang. The capital team dominated the canoeing event, winning 21 gold, eight silver and six bronze medals, trespassing their initial target of striving for 15 golds. Thai Nguyen finished second with eight golds and one silver medal, followed by Binh Thuan with five golds, three silvers and three bronzes. The rowing category continued to see Hanoi atop the podium with nine gold, four silver and four bronze medals, ahead of runners-up Hai Duong with two golds, three silvers and six bronzes, and third-placed Thai Binh with two gold medals. This year's event brought about 230 athletes representing 20 teams from across the country, competing in 16 rowing disciplines at a distance of 2,000m (March 8-11), and 36 canoe and kayak disciplines at distances of 200m, … [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...]