Vinh Phuc pitches for UK investments The northern province of Vinh Phuc pitched its potential, strength and projects in need of investments at a recent seminar in London. Addressing the event, held with the coordination of the Vietnamese Embassy in the UK, Chairman of the Vinh Phuc People's Committee Nguyen Van Tri underlined the province's advantages including favourable geographical conditions, an abundant workforce and good infrastructure. He reported that as of the end of June 2016, Vinh Phuc was hosting 221 foreign-invested projects, including successful ones run by Toyota and Honda of Japan, Piaggio of Italy, and Partron Vina, Heasung Vina, Jahwa and Sindoh of the Republic of Korea (RoK). Ambassador Nguyen Van Thao described Vinh Phuc as a bright spot in terms of economic development in Vietnam. He pledged that the embassy will assist UK businesses in studying opportunities in Vietnam in general and in Vinh Phuc Province in particular. Paul Smith from the UK's Harvey Nash Group, … [Read more...] about BUSINESS IN BRIEF 9/8
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Your Say (28-08-2009) Is it unwise to let foreigners drive right-hand cars in VN? Viet Nam News asked its readers about the Ministry of Transport's proposal to allow foreigners to drive cars with steering wheels on the right-hand side in Viet Nam. Last week we asked readers for their opinions about the Ministry of Transport's proposal that would allow foreigners to drive cars with steering wheels on the right while they visit and stay in Viet Nam. Anucha Kwantientong, Thailand, Bangkok I like travelling to other countries in my own car. Many countries allow cars with the steering wheel on the right to use their roads. When I go to these countries, I practise for a short time in order to get used to their traffic signals and laws. … [Read more...] about Is it unwise to let foreigners drive right-hand cars in VN?
Binh Dinh mulls constructing MSW power plant Outgrow Energy Consult Co Ltd (OEC) based out of Bangkok, Thailand has unveiled its proposal to oversee construction of an electricity power plant utilizing municipal solid waste (MSW) technology at the Nhon Hoi Economic Zone. Details of the proposition were discussed in specific detail by Tipanan Sirichana, managing director of OEC at a recent meeting with the Binh Dinh Provincial People’s Committee. The Managing director said MSW technology is a more cost effective and environmentally friendly alternative to landfilling or composting technologies, which would require the province to purchase fuel to incinerate the waste. In contrast, MSW facilities are paid by the fuel suppliers to take the fuel (known as a ‘tipping fee’). The tipping fee is comparable to the fee charged to dispose of garbage at a landfill and would result in significant cost savings for the province. OEC specializes in project development services … [Read more...] about BUSINESS IN BRIEF 13/7
Republic of Korea tops foreign investment in first half of 2016The Republic of Korea was the largest foreign investor in Vietnam in the first six months of the year at US$3.99 billion, equivalent to 35.37% of total direct foreign investment. According to the Foreign Investment Agency, Japan and Singapore came second and third with US$1.229 billion and US$1.129 billion poured into Vietnam respectively. In the first six months of 2016, total new and additional pledges were US$11.284 billion, up 105.4% over the same period last year, while disbursement rose 15.1% to reach US$7.25 billion. Foreign investment was poured into 19 sectors, in which manufacturing remained the most attractive, drawing more than US$8 billion, equivalent to 71.4% of total pledges. Real estate came second with US$604.8 million, while sci-tech ranked third with US$562.3 million. Major projects granted licences in the first half of 2016 were LG’s display manufacturing facility in Hai Phong, Samsung’s … [Read more...] about BUSINESS IN BRIEF 4/7
HCM City earmarks VND5.6 trillion for market stabilisation Local businesses have spent nearly VND5.6 trillion stockpiling goods to meet consumer demand during the upcoming lunar New Year festival (Tet). The Municipal Department of Industry and Trade on December 10 reported that businesses have made plans since April 2011 to ensure a sufficient supply of diverse and high quality essentials, including food and foodstuffs, at reasonable prices. Suppliers are those taking part in the city's ongoing programme to stabilize market prices, said a department official. The city will monitor price listings at more than 2,500 kiosks to keep market prices in check and nip in the bud any market manipulation. We will collaborate with market management forces in districts to intensify inspection at kiosks and spring trade fairs, said Le Ngoc Dao, deputy director of the department. The Saigon Co-op chain and convenience stores will provide services in the evening later than usual and they … [Read more...] about BUSINESS IN BRIEF 15/12