Businesses struggle to earn money in year-end sale season

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Businesses have geared up to boost sales in the year-end sales seasons. They have also changed the product structure to satisfy the taste of customers. Business results bad Dang Quoc Hung, Chair of Kim Boi Fine Arts and Handicrafts Company, spent the whole morning visiting Vifa Home, a wooden furniture and interior decoration trade fair held in HCM City. A trade fair was also held one year ago, where all the booths of the exhibition center was fully occupied. Meanwhile, a lot of booths remained idle at this year's trade fair, which lessened the enthusiasm of consumers of distributors. Tens of enterprises, which always participated in previous years' trade fairs, refused to attend this year's event. Hung also did not have a booth at Vifa Home, though he is the chair of three enterprises in Tra Vinh, Ben Tre and HCM City. The revenue of all the three companies decreased sharply by 50 percent in the first nine months of the year in comparison with the same period of 2010. Hung … [Read more...]

Businesses struggle to earn money in year-end sale season

Businesses have geared up to boost sales in the year-end sales seasons. They have also changed the product structure to satisfy the taste of customers. Business results bad Dang Quoc Hung, Chair of Kim Boi Fine Arts and Handicrafts Company, spent the whole morning visiting Vifa Home, a wooden furniture and interior decoration trade fair held in HCM City. A trade fair was also held one year ago, where all the booths of the exhibition center was fully occupied. Meanwhile, a lot of booths remained idle at this year’s trade fair, which lessened the enthusiasm of consumers of distributors. Tens of enterprises, which always participated in previous years’ trade fairs, refused to attend this year’s event. Hung also did not have a booth at Vifa Home, though he is the chair of three enterprises in Tra Vinh, Ben Tre and HCM City. The revenue of all the three companies decreased sharply by 50 percent in the first nine months of the year in comparison with the same period of … [Read more...]

Hanoi to host its ‘first ever’ ASEAN Children Festival

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The revelation was made by VTV Deputy General Director Pham Viet Tien on May 27 at a press conference held in Hanoi. The highlight of the festival is an art program scheduled for June 1, said Mr Tien, and it will broadcast live on VTV1 starting at 8:00 pm. At the art show, delegations of ASEAN children will perform some 15 musical and dance skits including traditional dances from Thailand, Singapore and Indonesia, and concerts from Malaysia and the Philippines. As part of the many festivities, the participating kids will attend a puppet show at the Central Puppet Theatre, visit the Vietnam Museum of Ethnology and join in a forum on children and communication, to name just a few of the many activities. The event is being co-organized by the Youth and Children's Department of the Vietnam Television (VTV), the Ministry of Culture, Sports and Tourism (MCST), Embassies of ASEAN countries in Vietnam, the Co-operation and Development Fund and the Phuong Dong Media. VOV … [Read more...]

Vietnam to host ASEAN Children Festival for first time

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Vietnam will host the ASEAN Children Festival 2016 from May 28 to June 2. The festival will help children from ASEAN countries to further understand each other, and the land and culture of other regional nations. The information was announced at a press conference held in Hanoi on May 27. This is the first time Vietnam has hosted such an event, which will be co-organised by the Youth and Children's Department of the Vietnam Television (VTV), the Ministry of Culture, Sports and Tourism (MCST), Embassies of ASEAN countries in Vietnam, the Co-operation and Development Fund and the Phuong Dong Media. According to VTV’s Deputy General Director Pham Viet Tien, the festival will help children from ASEAN countries to further understand each other, and the land and culture of other regional nations. This year’s festival attracted children ages 9 to 15 from choirs and art clubs from Thailand, Laos, Singapore, Indonesia, Malaysia and the Philippines. The participants will … [Read more...]

Ho Chi Minh City firm mortgages sold condo project, angering flat owners

The Harmona resdients react to the announcement about the foreclosure. Photo:  Tuoi Tre   Nguyen Van Liem, chairman of Thanh Nien Corp, admitted to  Tuoi Tre

A realty developer in Ho Chi Minh City has mortgaged and defaulted on an entire condo project in which 600 apartment buyers have already moved. Tamexim is now on the verge of having the project, The Harmona Apartment in Tan Binh District, foreclosed by the creditor, a BIDV branch, next month. Apartment owners are worried that they may lose their homes, even though they have nothing to do with the debt issue between the developer and the bank. The Harmona is located on a 9,100 square meter land plot on Truong Cong Dinh Street, and is a joint venture between Tamexim and Thanh Nien Corp. In 2011, Tamexim mortgaged the land using right of the project, as well as the Harmona’s three apartment blocks with more than 600 units, for Thanh Nien Corp to borrow money from the Bac Saigon (North Saigon) branch of BIDV. The creditor said Thanh Nien Corp has repeatedly failed to clear their debt, forcing them to foreclose on the mortgaged assets. On May 24, BIDV Bac Saigon sent a … [Read more...]

Movitel: a close friend of Mozambique

Mozambican people visiting Movitel's stand

PANO – Movitel is taking the lead in the mobile phone service market of Mozambique, with more than 4 million subscribers. The information was released by Major General Le Dang Dung, Deputy General Director of Vietnam’s military-run telecommunications group, Viettel, at a recent meeting between the Vietnamese Ministry of Information and Communications and the Ministry of Transport and Communications of Mozambique. The joint venture Movitel came into being as a result of the investment between Viettel and the SPI and Invespar companies of Mozambique. The joint venture has built up a network that covers even the most remote areas of Mozambique, with more than 20,000km of optical cable. So the telecommunications infrastructure of Mozambique is now on par with those of other African countries. Viettel has also helped bring internet services to schools and government offices of the country. On May 15th, 2012, Viettel launched Movitel. After four years of operation, Movitel … [Read more...]

Cooking contest launched

Minh Nga Organized by Vietnamese porcelain maker Minh Long 1 Co. Ltd in collaboration with the Business Studies and Assistance Center (BSA), the contest will highlight typical Vietnamese dishes and spices used in those dishes. The contest will take place at cooking studios in three major cities, Hanoi, Danang and HCMC, as a playground for professional chefs from hotels, restaurants and resorts nationwide to compete in teams of three, consisting of one chef and two assistants. Compared to the previous three editions, the competition this year will have several new features. On the panel of judges will be Eckart Witzigmann, a world-famous chef from Germany, and first runner-up Miss Vietnam 2010 Vu Hoang My. A mobile phone and tablet app called Chiec Thia Vang has been launched, making it possible for users to get updated about the contest. Apart from honoring excellent cooks, Chiec Thia Vang will help preserve and promote dishes that represent the authentic cuisine of different … [Read more...]

Vietnam Airlines has new Chair, CEO

Pham Ngoc Minh (right), newly-elected Vietnam Airlines' Chairman of the Board of Directors and Duong Tri Thanh, the firm's new General Director.

VietNamNet Bridge – The two top managers of Vietnam Airlines, Chairman of the Board of Directors and the Chief Executive Officer (CEO), will be changed from June 1. On Tuesday the shareholders of Vietnam Airlines elected additional members of the Board of Management from now to 2020. The shareholders’ meeting unanimously elected Mr. Duong Tri Thanh to the Board of Directors in the 2015-2020 term. The Board of Directors approved the resignation of Mr. Pham Viet Thanh from the chairmanship of Vietnam Airlines because Thanh will be assigned with new tasks by the Politburo. Mr. Pham Ngoc Minh, a member of the Board of Directors, will resign from the CEO position to assume the chairmanship while Mr. Duong Tri Thanh will no longer assume the post of deputy general manager to serve as a member of the Board of Directors and the CEO of Vietnam Airlines. Minh was Vietnam Airlines General Director from December 2007 while Thanh was deputy general director since October 2008. The … [Read more...]

Vietnamese firms join Samsung’s supply chain

Samsung Electronics Viet Nam seeks Vietnamese enterprises as its vendors to serve its increasing production in Viet Nam. — Photo baogiaothong.vn

VietNamNet Bridge – The number of local firms participating in the Samsung supply chain has increased dramatically thanks to Samsung Electronics Viet Nam’s efforts to seek domestic vendors. Currently, there are 11 Vietnamese enterprises which are Samsung’s tier-1 vendors, along with 52 local tier-2 vendors. Therefore, 63 Vietnamese enterprises in total were a part of Samsung’s supply chain by the end of last month. The information was released at the field survey at Ngan Ha Printing Company, Phuoc Thanh Plastic Company and Minh Dat Precision Mold Company conducted by Samsung in HCM City. This field survey is in line with Samsung’s programme to provide experts to support Vietnamese suppliers in enhancing their capacity to join Samsung’s supply chain. Under this programme, Samsung for the first time has sent experts from Korea to Viet Nam to directly assist Vietnamese companies for three months to improve their production process and meet … [Read more...]

Three Vietnamese firms join Samsung supply chain

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Three Vietnamese suppliers have qualified to join the production supply chain of the Vietnamese arm of South Korean electronics giant Samsung. The three include Ngan Ha Printing Packaging Co. Ltd. in Go Vap District, Ho Chi Minh City; Phuoc Thanh Plastic Co. Ltd. in District 5, Ho Chi Minh City; and Minh Dat Precision Mold Co. Ltd. (MIDA) in Ben Luc District, Long An, a southern province, Samsung Electronics Vietnam said after assessing the firms’ production capacity on Monday. The firms are among nine Vietnamese suppliers consulted by experts from the South Korean tech titan to upgrade their manufacturing process to meet the standards of its supply chain. Lee Sangsu, president of Samsung Electronics Ho Chi Minh City Complex (SEHC), said that the firms had made a significant improvement since the upgrade, but asserted that it will mean nothing if local businesses fail to keep up the pace in terms of product quality, time, and price. Nguyen Van Dao, deputy general … [Read more...]

Vietnam Airlines sells 8.77% stake to ANA Holdings

Lan Nhi The Vietnamese national flag carrier announced at an annual shareholder meeting in Hanoi on May 23 that it has almost finished negotiations over the share sale with ANA Holdings and that the two sides are expected to clinch an agreement late this month. In particular, Vietnam Airlines will issue additional shares for strategic investor ANA Holdings to increase its chartered capital. More than 107 million shares will be sold to ANA Holdings, equivalent to 8.77% of the domestic airline’s chartered capital. The carrier expects to get around US$108 million (VND2.431 trillion) from the share sale, with the price lower than the winning level in its initial public offering (IPO) in November 2014 (VND22,307 per share). According to Vietnam Airlines, that ANA Holdings becomes its strategic shareholder will help it enhance financial capability, governance, service quality and market expansion, and gain more access to new technologies. After the transaction with ANA … [Read more...]

Social News 24/5

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One more Tan Son Nhat airport bus service launched Southern Airport Transportation Joint Stock Company (SATSCO) on May 19 launched Bus Route No. 49 using high-quality automobiles to shuttle passengers between Tan Son Nhat airport and downtown HCMC. Buses ply SATSCO's second such route from 5 a.m. to 1:30 a.m. and depart from the airport and the downtown every 15 to 30 minutes. The traveling time of the new shuttle bus service is 30 to 40 minutes, and fares cost VND40,000 per passenger. Yellow buses of the new route will stop at major hotels, the Notre Dame Cathedral, and the HCMC Opera House in the center of the city, instead of using public bus stops. SATSCO is working on a plan to develop more five-star bus services with free wifi and staff able to communicate in English. Two months ago, the company put into serve Bus Route No. 109 linking the airport and the downtown. The company expected the two bus routes will help reduce traffic congestion on the streets leading to Tan … [Read more...]

Vietnam Airlines targets 20 mln passengers in 2016

Pham Ngoc Minh (right), newly-elected Vietnam Airlines' Chairman of the Board of Directors and Duong Tri Thanh, the firm's new General Director. — Photo VNA

Vietnam Airlines among safest air carriers globallyJapan's ANA to buy VNA shares this yearVietnam Airlines reports superior performance in 2015Two organisations to buy 98% of VNA shares in IPOTechcombank aims for a large stake in VNA HA NOI (Biz Hub) – Shareholders of Vietnam Airlines have agreed on its business plan for 2016 in which the carrier targets carrying about 20.1 million passengers. The goal was approved at the airline's annual shareholders meeting held in Hanoi on May 23, a year after it officially became a joint stock company. The firm also aims to generate VND77.8 trillion (US$3.5 billion) in revenue and VND2.3 trillion ($103 million) in pre-tax profit this year. It has earmarked VND9.9 trillion ($444 million) for investment with the emphasis on projects that fit its long-term goals and help improve efficiency. At the meeting, Pham Ngoc Minh was elected as Chairman of the Board of Directors, replacing Pham Viet Thanh who was appointed Secretary of the … [Read more...]

Vietnam Airlines has new leaders

Pham Ngoc Minh (right), newly-elected Vietnam Airlines' Chairman of the Board of Directors and Duong Tri Thanh, the firm's new General Director. — Photo VNA

Vietnam Airlines among safest air carriers globallyJapan's ANA to buy VNA shares this yearVietnam Airlines reports superior performance in 2015Two organisations to buy 98% of VNA shares in IPOTechcombank aims for a large stake in VNA HA NOI (Biz Hub) – Shareholders of the national flag carrier Vietnam Airlines (VNA) agreed to elect Pham Ngoc Minh to be the corporation's chairman and Duong Tri Thanh as general director from June 1. The information was released at the VNA's annual shareholders' meeting held in Ha Noi on Monday. Minh will replace Pham Viet Thanh, who was recently appointed by the Politburo as Secretary of the Party Committee of the Central Business Bloc in the 2015-2020 tenure on April 12. Minh, 56, was appointed as the VNA's deputy general director in May 1993. He became general director in December 2007. Thanh was born in 1961. He was assigned to be the VNA's deputy director in October 2008. At the meeting, VNA reported that it was completing negotiations … [Read more...]

Local food industry has potential

"Viet Nam has a large potential market for beverages, including alcohol and beer because the nation has a young population and an increased income per capita," . — Photo vietq.vn

HA NOI (Biz Hub) — The domestic food production industry has great potential for development but local firms need to revamp production and study consumer trends to compete with foreign rivals, experts say. At a forum on the food production industry in HCM City last week, Chau Thinh Lan, director of Viet An Food Processing Ltd Company, said in the domestic food production industry, the value of spices, sauces and seasoning production has reached VND4.5 trillion (US$200 million) at present and was expected to reach VND19 trillion in 2020. He said food consumption trends in Viet Nam's market show that future use would move toward processed foods and away from more traditional food production methods. In large cities, processed food is available in supermarkets and these would sell at traditional markets while they would appear gradually in small cities. Candy would be developed in the future, Lan said, and added that the local dairy industry would have many chances of … [Read more...]

Da Nang: Ways to promote efficiency of local tourism suggested

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The Summer Tourism Programme 2016 is taking place in Da Nang until 30 September. A wide range of fascinating activities have already been held including the Da Nang Beach Tourism Season, and the VNG IRONMAN 70.3 Viet Nam Triathlon and Iron Kid races. Some of the other large-scale events which will be held from June to September are: the 2016 Beach-Leisure & MICE Travel Mart (BMTM Da Nang 2016), the "Da Nang - Summer Destination" programme, the "Colour Me Run" (all in June), and the Da Nang International Marathon (DNIM 2015) in August. The Deputy Director of the city's branch of the Ben Thanh tourist company, Mr Nguyen Van Tai, said "In an attempt to promote the efficiency of the ongoing summer tourism programme, the focus should be on advertising the city’s attractive beach tourism products to its partners and visitors from both home and abroad. Importance should be attached to taking practical steps to prove that Da Nang is a safe tourism environment for its visitors and … [Read more...]

Real estate heat wave thaws projects on ice

In the major cities of Vietnam, various sectors of the property market are witnessing a resurgence-Photo: Le Toan

Vietnam’s real estate market has been experiencing something of a heatwave over the past few months. JLL Vietnam country head, Stephen Wyatt, said that with the economy back on track, the property market had gathered momentum over the past 18 months, focused mainly on the residential sectors in major cities like Ho Chi Minh City and Hanoi. Here, residential sales recorded all-time highs in the first quarter of this year, reaching around 9,000 and 8,000 units respectively. In Hanoi, the west and southwest still gather the most in terms of unit numbers, accounting for 75 per cent of total supply. Ba Dinh district is scheduled to welcome three high-end projects supplying 488 new units. Given the strong supply in the pipeline and strong sales, the market could be stabilising after its unprecedented growth in 2015. According to Tran Nhu Trung, deputy general director of Capita Trading and Investment JSC, the improvement of infrastructure in the west of Hanoi is supporting the … [Read more...]

VN to expand biodiversity protection by 2020

A stump-tailed macaque lives in the 94,804ha Pu Mat National Park in the central province of Nghe An. Viet Nam’s rich biodiversity has been under threat due to overloaded exploitation, illegal wildlife hunting and trafficking, as well as poor management and collaboration among State agencies. — VNA/VNS Photo An Dang

VietNamNet Bridge – Viet Nam’s rich biodiversity has been under threat due to overloaded exploitation, illegal wildlife hunting and trafficking, as well as poor management and collaboration among State agencies. Deputy General Director of the Viet Nam Administration of the Forestry (VNFOREST) Cao Chi Cong spoke at a seminar titled Enhancing Collaboration For Nature Conservation in the Central and Central Highlands regions of Viet Nam in Da Nang on Wednesday. Forests cover 62 per cent of the region on 3.4 million hectares – the largest area in Viet Nam. They play an important role for the lower Mekong River. Cong said many policies were built in the past years, but it’s still a challenge to manage and protect biodiversity and endangered flora and fauna at national nature reserves and parks. "Illegal trafficking of wildlife or hunting of endangered animals in forests has concerned State agencies and biologists recently," Cong said. "The Government also built … [Read more...]

Workshop seeks sustainable biodiversity conservation

Hanoi, May 20 (VNA) – Vietnam’s biodiversity resources are degrading under the pressure of population growth, overexploitation and economic development, which threatens the stable livelihoods of many communities, experts said at a workshop in Hanoi on May 20. Addressing the workshop, Mai Thanh Dung, Deputy General Director of the Vietnam Environment Administration (VEA) said c onserving and using biodiversity sustainably with the aim to create and maintain community livelihoods is of great importance to the country . Dung noted that Vietnam is ranked 16th in the world in terms of biodiversity and is recognised as one of 10 centres having the most diverse biodiversity in the world. He said Vietnam had made a strong commitment to conserving biodiversity. The country adopted the Biodiversity Law in 2008 and issued the national strategy on biodiversity by 2020 with a vision to 2030. Several reports were presented on the preservation of rare and valuable gene sources and … [Read more...]

Vietnam aviation sector pressured by passenger rise

Vietnam Airlines planes parked at Tan Son Nhat International Airport in HCM City. A shortage of infrastructure is the biggest challenge to the aviation sector.

The biggest problem facing the Vietnamese aviation sector is the infrastructure at airports, especially at the Tan Son Nhat International Airport, heard a conference in Hanoi this week. Lai Xuan Thanh, head of the Civil Aviation Authority of Vietnam (CAAV), said airports nationwide are capable of accommodating a total of 75 million passengers annually. In the past four months, 63 million had already been accommodated, adding more pressure on the country's aviation infrastructure, he said. During the reviewed period, the sector grew by nearly 25 per cent, ranking fifth in Southeast Asia, Thanh noted. He said the speedy development has challenged domestic airlines and aviation businesses. The CAAV has submitted plans to upgrade aviation infrastructure, ensure safety for flights and create the best possible conditions for airlines. The Ministry of Transport plans to expand the Tan Son Nhat International Airport and raise its capacity to 40 million passengers per year, Thanh said, … [Read more...]