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BUSINESS IN BRIEF 30/10   2008-10-30 - VNA

AAMATEX Vietnam 2008 opens in HCM City

AAMATEX Vietnam 2008, an exhibition on apparel machinery and accessories, was opened in Ho Chi Minh City International Exhibition & Convention Center on October 29, 2008.

The exhibition is jointly organised by Pico Event Management Pte. Ltd, ASEAN Federation of Textile Industries (AFTEX) and Singapore’s Sewing Machine Traders Association.

AAMATEX Vietnam 2008 attracted more than 120 exhibitors from 15 countries and territories with a number of world-famous brand names such as Babylock, Brother, Feiyue, Highlead, Mitsuyin, Pfaff, Protex, etc.

The exhibition showcases a wide range of technologies, machinery, equipment and accessories used in the production of garments and textiles.

AAMATEX Vietnam 2008 will help Vietnamese firms seek opportunities for cooperation and sign economic agreements with foreign partners.

The exhibition will last until October 31.

Prudential financial company to open branch in Hanoi

Prudential Vietnam Finance Company Limited (PruFC) will open a branch in Hanoi under the State Bank of Vietnam (SBV)’s approval.

According to SBV’s decision, PruFC branch in Hanoi has to conduct online transactions with the head office and set up internal control systems in accordance with SBV’s regulations.

PruFC, headquartered in Ho Chi Minh City, commenced its operation in 2007 with focus being placed on capital mobilisation and credit provision,

The company has a charter capital of 7.5 million USD. The figure will increase to 15-30 million USD in the next two years.

Prudential life insurer, which has been working in Vietnam since 1999, has provided services for 2.5 million contracted clients.

It set up the country’s largest fund management company in 2005, attracting 1.3 billion USD in real estate.

Over 200 businesses attend int’l energy expo

More than 200 domestic and foreign enterprises are taking part in an international energy expo which opened in Hanoi on Oct. 29.

The Vietnam International Energy Expo 2008 (VE Expo 2008), co-organised by the Ministry of Industry and Trade and the Vietnam Institute of Atomic Energy, is one of the important events which aims to introduce the State’s policies on developing and ensuring energy security.

The expo also aims to help potential investors to seek partners in the energy sector, according to the Organising Board.

High-quality technologies and services in energy exploitation and various forms of energies in Vietnam are on display at the expo. Visitors also get a chance to see the latest inventions such as street lights using wind and solar energies and rubbish-fueled electricity generation systems.

An international seminar on energy development will be held from Oct. 30-31 as part of the expo. The seminar will introduce the prospects of the Vietnamese energy sector, renewable energy development strategies as well as challenges facing the country in the development of sustainable energy sources.

Gov’t approves EZ development in central region

Quang Binh Province will have its Hon La Economic Zone (EZ) built into a modern centre for international trade in central Vietnam in line with a decision signed recently by the Prime Minister.

Under the decision, which approves a plan to develop the EZ between now and 2020, Hon La will be equipped with comprehensive infrastructure facilities to serve as a gateway to Southern Laos, Northeastern Thailand and the whole Mekong sub-region.
The EZ will offer dynamic development policies to encourage all types of business, with focus on trade, import-export, services, tourism and sea-based economies.

Thermo-power, shipbuilding, cement production, aquatic product processing and shipping will be considered as core sectors at EZ, which is expected to generate around 40,000 jobs once it is operational.

Vietnamese, Spanish businesses to jointly build polyclinic

The Phuc Lam Medical Joint Stock Company of Vietnam and the Constructor Sanjose Group of Spain will cooperate in building a polyclinic at a total cost of 80 million USD.

The two businesses signed their agreement in Hanoi on October 28 to set up a hotel hospital with 500 beds and 28 wards.

The 140,000 sq.m project will be located at the Viet Hung New Urban Area in Van Giang District of northern Hung Yen Province.

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