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Lotte cherishes ambitious business plan in Vietnam

VietNamNet Bridge – The merger and acquisition (MA) deals Lotte concluded recently shows its ambitious investment plan in Vietnam. Right after wrapping up the deal of buying the Kotobuki’s 70 percent capital contribution in the Hai Thanh – Kotobuki joint venture, Hotels Resorts Lotte, a subsidiary of Lotte group, has immediately added “Lotte” into the hotel, changing it into “Lotte ... Read More »

Vietnam earns over 760 mln USD from rice exports

Vietnam has so far this year raked in more than 760 million USD from shipment of over 1.73 million tonnes of rice, according to the Vietnam Food Association. Currently, the rice price in the Mekong Delta, the country’s largest granary, continues to drop 100 VND (about 0.05 USD) a kilo compared to the last week’s figure. Prices of dry unhusked ... Read More »

Capital industrial production soars

Hanoi’s index of industrial production (IIP) this month increased 7.8 percent over last month, and rose 12.1 percent compared with the corresponding period last year, the General Statistics Office have announced. The figures released by the office show that most industrial sectors saw IIP increase on the previous month. The exceptions were the weaving sector, which dropped 12.6 percent, and ... Read More »

HCM City targets exports jump

The municipal Department of Industry and Trade says HMC City targets export revenues of 34 billion USD this year, a year-on-year increase of 13.5 percent. Excluding crude oil, export revenues are expected to reach 24.2 billion USD, up by more than 12 percent over previous year. A Thoi Bao Kinh Te Viet Nam (Vietnam Economic Times) report on April 23 ... Read More »

Japan helps nation prepare for floods

The second phase of Vietnam’s society resilient against disasters project was launched on April 23 with the signing of an agreement between several Vietnamese provinces and the Japan International Cooperation Agency (JICA). Under the agreement, the Japanese side will donate 393 million JPY (approximately 4.17 million USD) to the second phase which aims to improving water-related disaster prevention through an ... Read More »

Viet Nam and US close to TPP pact

Viet Nam and US close to TPP pact HA NOI (VNS)— President Truong Tan Sang and the Acting Trade Representative of the US, Ambassador Demetrios James Marantis said they believe Viet Nam and the US will soon reach an agreement on the Trans-Pacific Partnership (TPP). At a meeting with the US acting trade representative in Ha Noi yesterday, Sang affirmed ... Read More »

Deputy PM hosts visit from top IMF official

Deputy PM hosts visit from top IMF official HA NOI (VNS)— Deputy Prime Minister Vu Van Ninh received head of an International Monetary Fund’s team reviewing macroeconomic and structural policies Alfred Schipker in Ha Noi yesterday. Ninh expressed his thanks for the IMF’s assistance to Viet Nam, particularly during the global economic downturn. He also briefed the guest on major ... Read More »

Government issues new standard form for contracts related to sharing oil and gas production

Government issues new standard form for contracts related to sharing oil and gas production On 22 April 2013, the Government issued Decree No 33/2013/ND-CP promulgating a Contract Form for oil and gas production sharing contracts. Accordingly, this Decree promulgates a standard form for production sharing contracts that shall be complied with. The Viet Nam National Oil and Gas Group only ... Read More »

Viet Nam-Brazil trade approaching US$2 billion

Viet Nam-Brazil trade approaching US$2 billion HA NOI (VNS)— According to the Ministry of Industry and Trade, two-way trade between Viet Nam and Brazil could reach US$2 billion this year. Inquiries from Brazilian companies have been asking for introductions to local companies as possible future business partners. In 2012, two-way trade between Viet Nam and Brazil exceeded $1.73 billion, an ... Read More »

PVFC ensures fertiliser supply for forthcoming rice crop

PVFC ensures fertiliser supply for forthcoming rice crop HA NOI (VNS)— The Phu My fertiliser plant will run at full capacity and produce around 360,000 tonnes of fertilisers in the second and third quarters in preparation for the summer-autumn rice crop. According to the PetroVietnam Fertiliser and Chemicals Corporation (PVFC), together with a fertiliser inventory of 70,000-75,000 tonnes, the volume ... Read More »