Business in brief 11/06/2008
Deputy Minister of Industry and Trade Do Huu Hao attended a seminar with French businesses in Paris on Nov. 5 and urged them to involve more in Vietnam’s energy and environment protection sectors.
Addressing the event, co-held by the French Agency for International Business Development (Ubifrance) and the Vietnamese Embassy in France, the official outlined Vietnam’s energy consumption demands from now to 2050, its policy and programmes on the development of environment-friendly and renewable energy and energy saving.
He said he was willing to listen to French businesses’ opinions relating to their difficulties in investing in Vietnam.
In addition to nuclear power, which is France’s forte, the participants at the seminar showed their interest in Vietnam’s oil refinery projects and its incentives to developing renewable energy.
The seminar attracted a large number of French businesses, including big ones such as Alstom, Natixis and Globex.
Hanoi to host regional gas expo-cum-conference
A wide range of equipment, products and services provided by regional companies for the gas industry will be introduced at the 10th Gas Information Exchange Conference and Exhibition (GASEX 2008) in Hanoi from Nov. 12-15.
The biennial GASEX Conference and Exhibition is the only forum dedicated to the natural gas industry in the Western Pacific region. It has been held since 1990 to foster the sustainable development of the region’s gas industry by facilitating discussion of current business and technical challenges.
Government leaders from regional countries are expected to join top executives of world leading oil and gas corps such as Petronas, PT Pertamita, PTT, Chevron, and Exon Mobil, as well as the International Gas Union and the Japan Gas Association at the event.
Meanwhile, the GASEX Exhibition will bring together more than 40 groups, corporations and associations from 15 countries and territories in the region, including Australia , Brunei , China , Indonesia , Japan , the republic of Korea , Malaysia , New Zealand , Papua New Guinea , the Philippines , Singapore , Taiwan , Thailand and Vietnam .
Organisers - the Ministry of Industry and Trade, the Vietnam National Oil and Gas Group – said the event will be a valuable chance for the country’s oil and gas sector to introduce its achievements, potentials and cooperation opportunities.
Vietnam firm to explore antimony ores in Laos
The Hoa Binh Xanh Joint Stock Company from Vietnam has been allowed to explore antimony ores on an area of 380 sq.km in Ngoi and Viengkham districts of northern Laos ’ Luang Phabang province.
An agreement to this effect was signed in Vientiane capital city on Nov. 5 by the company’s representatives and the Lao Government.
The company’s general director, Cu Thanh Tien, said the project, which will be carried out within the next four years, has an initial investment of 4 million USD. The company will continue with negotiations for the project if it proves its feasibility following the exploration phase, he added.
Ore mining has emerged as one of Laos ’ spearhead economic sectors in the recent years, attracting a large flow of investment capital from investors both at home and abroad. The export of minerals, especially gold and copper, is a major source of revenue for the state coffer.
Italian investment boom expected in Vietnam
Representatives from Italian companies attending the Vietnam-Italy Business Forum in Hanoi on November 5 predicted an investment boom by Italian businesses in Vietnam in the future.
UniCredit Bank’s Chief Representative in Indochina Nguyen Hong Anh affirmed that the presence of UniCredit, as well as many other banks at the forum has demonstrated this investment trend.
“Our presence shows a flow of Italian investment pouring into Vietnam because our tasks are to follow enterprises to provide capital and consultations for them,” Anh told a Vietnam News Agency reporter on the sidelines of the forum.
Accompanying the 160-strong Italian business delegation led by Minister of Economic Development Claudio Scajola are 11 banks, including UniCredit and Banca Intesa San Paolo – the two largest financial groups in Italy .
Stefano Acerbi, an official from the Vicenza regional business association, said that he predicts substantial investment from Italian businesses in Vietnam , particularly in areas such as engineering mechanics, fashion and oil and gas.
According to Silvia De Mase, Director of Banco Popolare Bank’s International Development and Strategy Division, the 85 million-strong nation’s high consumption demand, political stability and great economic potential are factors attractive to Italian enterprises.
“ Vietnam is always a destination that is recommended,” said Mase.
Italy currently stands ninth among EU countries investing in Vietnam with 28 projects worth a total 114 million USD.
Two-way trade between Vietnam and Italy exceeded 1.5 billion USD during 2007, representing an average annual growth of 20-30 percent.
Two more Italian factories to be built in Vietnam
Italy ’s Carvico Group, the world’s leading producer of sports clothing materials, will invest 18 million USD in the construction of a factory in the northern province of Hung Yen, according to the Italian Embassy in Vietnam .
This is Carvico’s first overseas investment project and represents Italy ’s second-largest project in Vietnam , after Piaggio’s factory.
Work on the factory is expected to commence later this year and be completed by mid-2009.
The Italian Embassy added that the Medexport Association, which includes six Italian pharmaceutical companies, has been granted a licencee to build a 6 million USD factory at the Hoa Lac Hi-tech Zone in Hanoi .
As Italy ’s first overseas pharmaceutical project, the factory is scheduled to be completed in late 2009 and will commence operation the following year.
By the end of October, five Italian projects had been given the go-ahead in Vietnam , with a total registered investment capital of more than 19.2 million USD.
Trade policy targets business associations, universities
The Ministry of Industry and Trade and the Delegation of the European Commission in Vietnam have called for proposals to strengthen the capacity of trade policy building for Vietnamese business associations and universities.
The appeal is part of the EU-funded Multilateral Trade Assistance Project III (Mutrap III) which is designed to assist Vietnam in implementing its Socio-Economic Development Plan and the Post-WTO Action Plan for sustained poverty reduction and economic growth through stronger integration into the global trading system.
Total funding for the proposals is 1.7 million EUR, the ministry said, adding the proposals should focus on strengthening the capacity and increasing the operating efficiency of business associations and assisting universities in improving the quality of their teaching and research regarding trade policies and laws.
Chilean firms spot business prospect in Vietnam
Vietnam is opening scores of business opportunities for Chilean small and medium enterprises because of its huge population and steadily high growth rates in recent years, Chilean newspaper “El Sur” said.
The paper stressed that Chile and Vietnam have chances to raise two-way trade in the future. Vietnam imports from Chile copper, flour, fish oil, pinewood, fir, wine, beer, fresh fruits, fertilizers, pharmaceutical products, milk, cheese and seafood. In the first half of 2008, Chile ’s exports of salmons to Vietnam hit 4.5 million USD, an increase of 103 percent as compared to the corresponding period last year.
Vietnam mainly exports textile and garment products to Chile , “El Sur” said, adding that Falabella is one of many Chilean companies that are in negotiation with Vietnamese partners to buy sportswear and shoes.
Vietnam is also a reliable supplier of glass and ceramic articles, tropical fruits, rice, coffee and processed “tra” and “basa” fish, the paper said.
Hai Phong to build 1 billion USD industrial complex
Construction of an 1 billion USD urban and industrial complex is to start next year at Thuy Nguyen district, in the northern port city of Hai Phong .
The 1,600 ha complex, the largest foreign invested project in Hai Phong so far, is wholly funded by the Vietnam-Singapore Urban and Industrial Development Joint Stock Company.
Once its first phase becomes operational in 2015, the project is expected to attract a substantial amount of investment, thus helping to develop the city’s northern area in accordance with its strategy up until 2025.
The complex is the second of its kind in northern Vietnam to be invested by the Vietnam-Singapore joint venture; the first is located in Bac Ninh province.
