Domestic market of gift baskets for Tet Holiday bustling The domestic market of gift baskets for Tet Holiday (the Lunar New Year) is bustling with activities as demand for gifts has increased. Supermarkets and shops are being busy with offering the finest quality merchandise for gift baskets to satisfy all tastes. Co.opmart, Big C, Vinmart, Lotte Mart, Mega Market have been displaying various kinds of gift baskets so that customers can choose it easily. Retailers predict that purchase power will increase by 20 percent compared to the same period last year and gift baskets from VND500,000 ($21.5) to VND1 million are expected very popular. Saigon Co.op, which operates the Co.opmart supermarket chain, announced this year, its supermarket chain including Co.opmart, Co.opXtra, Co.op Food are exhibiting gift baskets containing goods with clear origin and high quality. Moreover, customers can enjoy free delivery if they do online shopping of 38 baskets with fix price. The Saigon Co.op also … [Read more...] about BUSINESS NEWS IN BRIEF 16/1
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BUSINESS NEWS IN BRIEF 18/11
Edelweiss launches Zurich-HCMC air service Vinalines to auction shares of its subsidiary Viet Nam National Shipping Lines (Vinalines) will auction over 13.44 million shares of its holding in Viet Nam Transport and Chartering Joint Stock Company (Vitranschart) on December 5, the Ha Noi Stock Exchange has announced. The shares, accounting for a 22.03 per cent stake of Vitranschart, will be auctioned at the Ha Noi bourse at the starting price of VND1,200 (5 US cents) a share. Vinalines is currently Vitranschart’s parent shareholder with a total of 35.4 million shares, equivalent to 58 per cent of the firm’s voting shares in circulation. Currently, Vitranschart is trading at VND700 per share, and there is almost no matched stock in recent sessions. Vitranschart reported a loss of more than VND182 billion in the first nine months of 2018. Although this figure was VND40 billion lower than in the same period last year, the loss contributed to raising the accumulated … [Read more...] about BUSINESS NEWS IN BRIEF 18/11
Kazakhstan pledges to prioritize business with Vietnam
(VEN) - “Kazakhstan’s President Nursultan Nazarbayev has recently been active in improving the investment environment, in which Kazakhstan and Vietnam can boost cooperation bilaterally and within the scope of the Vietnam-EAEU (Eurasia Economic Union) Free Trade Agreement,” Kazakhstan’s Ambassador to Vietnam Beketzhan Zhumakhanov told a recent press meeting in Hanoi. Kazakhstan’s Ambassador to Vietnam Beketzhan Zhumakhanov with journalists in Hanoi The free trade agreement between Vietnam and the Eurasia Economic Union (EAEU), which includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, took effect in October 2016, marking a milestone in relations between Vietnam and the former Soviet republics. Under the agreement, businesses from Vietnam, Kazakhstan and other union member countries benefit from preferential tariff rates, which will gradually drop to zero. Bilateral trade between Vietnam and Kazakhstan has more than doubled in … [Read more...] about Kazakhstan pledges to prioritize business with Vietnam
BUSINESS NEWS IN BRIEF 9/11
HCM City works to solve difficulties facing property enterprisesThe People’s Committee of Ho Chi Minh City held a conference on November 7 to help local real estate enterprises solve difficulties.Le Hoang Chau, President of the Ho Chi Minh City Real Estate Association, said the local property market faces several bottlenecks affecting enterprises’ business and investment activities, including approval of investment intentions, ground clearance, land use feess, project acquisition, using land funds to pay for Build-Transfer (BT) contracts, and credit and financial procedure issues.The slow settlement of these bottlenecks is one reason for the significant decrease in the supply of real estate products in 2018, which is forecast to continue reducing in 2019, Chau affirmed.At the event, local enterprises shared difficulties facing them during project implementation.Chairman of the municipal People’s Committee Nguyen Thanh Phong admitted that there remain several … [Read more...] about BUSINESS NEWS IN BRIEF 9/11
BUSINESS NEWS IN BRIEF 4/8
PetroVietnam signs deals on Sao Vang-Dai Nguyet gas field exploitation A series of trade agreements on exploiting the Sao Vang-Dai Nguyet gas field was inked between the Vietnam National Oil and Gas Group (PetroVietnam) and its partners in Hanoi on July 31. The agreements included a gas sales and purchase and a gas supply agreement. The stakeholder participation in the Petroleum Sharing Contract includes the operator Idemitsu Kosan Co Ltd with 43.08 percent; Teikoku Oil (Con Son) Co Ltd, 36.92 percent; and PetroVietnam, 20 percent. Speaking at the signing ceremony, PVN General Director Nguyen Vu Truong Son said the signing of trade agreements achieved after over two years of negotiations among sides involved. He said the event is very significant for the gas filed to turn out the first flow of oil and gas in the third quarter of 2020, with an estimated annual output of 1.5 billion cubic metres of gas and of 2.8 million barrels of crude oil and natural-gas condensate. The … [Read more...] about BUSINESS NEWS IN BRIEF 4/8