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BUSINESS IN BRIEF 18/6   2009-06-18 - VietNamNet/VNA, ND, TN

ANZ opens Saigon south office


ANZ Bank opened a new transaction office in Ho Chi Minh City’s Phu My Hung neighborhood on Monday.


The outlet, located in the area of District 7 known as “Saigon South,” provides all personal and corporate services, the bank said.


ANZ also opened the Trung Hoa transaction office in Hanoi last week.


The bank said it would open the Cau Giay transaction office in Hanoi this Thursday, and two other transaction offices in HCMC’s District 5 and District 3 later this month.


Philip Crouch, ANZ general manager of Personal Banking Vietnam, told Thanh Nien Daily that ANZ “plans to open about 10 more outlets nationwide next year.”


Phu Bai to become international airport


Phu Bai airport in the central province of Thua Thien-Hue will be upgraded to an international airport in the 2009-2020 period with a vision for 2030.


Under a plan jointly approved by the Ministry of Construction and the Ministry of Transport, the airport will cover 42,000 square metres capable of serving 4,000 passengers a day.


The upgrade is estimated to cost VND 17,250 billion, of which one third will be invested between now and 2020.


Once-insolvent firms to list on UPCoM


The Debt and Asset Trading Corporation (DATC) will bring its member companies to the Ha Noi Securities Trading Centre’s new unlisted public companies market (UPCoM) under a deal inked with the centre on Tuesday.


DATC planned to facilitate the listings of about 10 companies on UPCoM, said general director Pham Thanh Quang. "These enterprises can meet the charter capital requirements to trade on UPCoM trades," he said.


Under the deal, the Ha Noi Securities Trading Centre would support the listing companies in complying with centre rules and regulations, and would give them updates on the market situation to help them determine the best time to list.


Centre director Nguyen Van Dung said the deal would help increase the investing options offered by UPCoM, as well as help speed up the process of equitising State-owned enterprises.


The enterprises affiliated with DATC are companies that were formerly insolvent but which have returned to profitability and been converted from State-owned enterprises to joint stock companies. Public trading of their shares would ensure their further stable development.


Investment needed for coffee processing


Coffee companies should invest in more processing technologies to add value, the Viet Nam Coffee and Cacao Association (Vicofa) said.


"Most processing plants in Viet Nam just classify and polish the beans, as a result of which the country does not earn much profit from export of the beans despite being one of the world’s largest exporters," it said.   


Regarding coffee export contracts in the remaining months of the year, Vicofa has also recommended its members to keep a close eye on the world market to avoid being pressed with prices.


From the plant until it reaches the cup, coffee goes through a clutch of other processes like sorting by colour, roasting and grinding, which few companies in Viet Nam undertake.


According to Ministry of Agriculture and Rural Development figures, 645,000 tonnes of coffee were exported in the first five months of the year for US$963 million.


This represents a 21.6 per cent increase in volume over the same period last year but 12.1 per cent fall in terms of value.


The biggest buyers of Vietnamese coffee are the US, Belgium, Germany, Spain, Italy, France, Japan and South Korea.


The price of coffee at the Buon Ma Thuot Coffee Exchange has been rising this month, going up $1,570 a tonne.


This represents an increase of $120 a tonne from last month but a contraction of more than $400 from the same time last year.


Cambodian firm builds water plant, urban area in Quang Nam


Cambodia’s Bright Moon Group broke ground for a water plant and urban area at Quang Nam Province’s Dien Nam-Dien Ngoc Industrial Park Tuesday.


The two projects are capitalized at a total of US$30 million, with an 80 percent stake contributed by Bright Moon and the rest coming from Quang Nam Water Supply & Drainage and Construction Company.


When put into operation, the 15,000-cubic-meter-per-day water plant will supply factories and the new 55-hectare urban area in the park as well as Dien Ngoc and Dien Nam Bac communes in Dien Ban District.


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BUSINESS IN BRIEF 16/6   2009-06-16