Steel export posts strong increase in 2016 Export of steel products in the first eight months this year reached 1.77 million tonnes, an increase of 49 percent from the previous year, according to the Vietnam Steel Association (VSA). During the period, the country produced 11.5 million tonnes, up 29 percent from earlier year and consumed 9.5 million tonnes, an increase of 29 percent. The price of construction steel went up in August and September, by 150,000-300,000 VND per tonne, reaching 9.5-9.9 million VND per tonne. In the same period, 13.7 million tonnes of steel products were imported at a cost of 5.15 billion USD, up 62.5 percent in volume and 15 percent in value. China accounted for 6.5 million tonnes or nearly 60 percent of the total imported steel volume. Booze exports to be reduced Viet Nam expects to earn US$900 million from exporting beverage products by 2035, according to the industry's planning. Under the new plan to 2025, with a vision to 2035, the Ministry of … [Read more...] about BUSINESS IN BRIEF 21/9
Best performance suv 2017
BUSINESS IN BRIEF 12/9
Ministry finds importers of sugar quota for this year The Ministry of Industry and Trade has found importers of 85,000 tons of sugar that Vietnam has to import as committed to the World Trade Organization (WTO) via a tender. The tender on Wednesday attracted 22 bidders, including eight companies which process crude sugar into refined products, and 14 firms that use refined sugar for production, the Vietnam Sugar and Sugarcane Association (VSSA) said. Three of eight firms won the tender for importing 40,000 tons of crude sugar. They are Bien Hoa Sugar Joint Stock Company with 14,444 tons, Thanh Thanh Cong Tay Ninh Joint Stock Company with 14,000 tons and Khanh Hoa Sugar Company with 11,110 tons. For 45,000 tons of refined sugar import, eight of 14 firms were picked at the tender, with Vietnam Dairy Products JSC (Vinamilk) winning the biggest deal to import 16,000 tons of sugar. Nguyen Hai, general secretary of VSSA, said this was the first time the ministry had held a tender to select … [Read more...] about BUSINESS IN BRIEF 12/9
BUSINESS IN BRIEF 19/6
Nawaplastic still hungry for Binh Minh Plastic shares Owning a dominant stake in Binh Minh Plastic (BMP) did not quench Nawaplastic Industry Co., Ltd. (Nawaplastic)’s thirst for BMP shares. Most recently, Nawaplastic registered to buy an additional 1.17 million BMP shares to increase its holding to 44.525 million shares, equalling 54.39 per cent of the charter capital. The transaction is expected to occur between June18 and July16. The registered share volume is the remaining part of the 2.86 million shares that Nawaplastic failed to buy during previous transactions. Notably, Nawaplastic registered to buy 2.86 million BMP shares during transactions on May 14-June 12, however, the Thai investor ended up buying 1.69 million of the registered shares as BMP did not match Nawaplastic’s target price. BMP manufactures and trades civil and industrial products made of plastic and rubber. The company also designs, manufactures, and trades in plastic moulds for the casting industry; … [Read more...] about BUSINESS IN BRIEF 19/6
BUSINESS IN BRIEF 4/4
Hapro and Protrade Corp. report successful IPOs Both state-owned Hanoi Trade Corporation (Hapro) and Binh Duong Producing and Trading Goods Corporation (Protrade Corp.), the owners of several golden land plots and industrial parks, conducted successful IPOs. On March 28, Protrade, the third largest state-owned firm in the southern province of Binh Duong, offered 30 million shares for sale, equalling 10 per cent of its stakes, at its IPO with the initial price of VND12,000 ($0.53). As a result, 63 investors joined the auction, four of whom won with the highest bid of VND21,000 and the lowest bid of VND16,600. The average selling price was VND17,474, which was 46 per cent higher than the initial price. After the IPO, the state’s holding in Protrade decreased to 50 per cent, equalling 150 million shares. Besides, Protrade Corp. will put 119.7 million shares, equalling 39.91 per cent of the stakes, on sale to strategic investors. Previously, Protrade Corp. also published the … [Read more...] about BUSINESS IN BRIEF 4/4
BUSINESS IN BRIEF 9/2
Survey says 70% of Japanese enterprises wish to expand business in VietnamApproximately 70% of Japanese enterprises operating in Vietnam intend to expand their operations in future, an increase of 3% compared to 2016, according to a JETRO survey.The survey covers the operations of Japanese enterprises in Asia and Oceania and its findings were announced by the Japan External Trade Organisation (JETRO) in Ho Chi Minh City on February 6.Chief Representative of JETRO Office in Ho Chi Minh City Koji Takimoto said that the survey received valid responses from 4,630 Japanese enterprises in 20 countries and territories around the world, including 652 Japanese enterprises in Vietnam.The survey showed that 65.1% of Japanese enterprises operating in Vietnam recorded a profit in 2017, up 2.3 percentage points from the previous year.In addition, about 70% of Japanese enterprises expressed their intentions to expand their business in Vietnam, a slight increase compared to 2016. The rate is … [Read more...] about BUSINESS IN BRIEF 9/2