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BUSINESS IN BRIEF 10/8   2010-08-10 - Tien phong

Southern real-estate firms see Hanoi as land of opportunity


Highly professional southern real estate firms are heading north, attracted by the residential property market in Hanoi where demand exceeded supply, said Nguyen Tran Nam, Deputy Minister of Construction.


Nam said the real estate market in Hanoi has an unsatisfied demand for apartments and houses, made worse by the fact 800 apartment and house projects have been placed on hold until the capital’s 10-year urban development plan is completed.


Southern trademark real estate firms see great potential in Hanoi where similar brands were lacking and real estate projects being developed by companies that were former State-owned enterprises.


Marketing and sales activities in the real estate market are not strong in Hanoi, he said.


One of those heading north is the Green Land Group, which has launched its Northern Green Land Real Estate and Service Joint Stock Company in Hanoi.


"Property enterprises in Hanoi have ignored the property segment for low-income people," said Luong Tri Thin, Green Land Group general director.


The expansion of Hanoi in 2008 brought many opportunities for developing urban projects, Thin said, adding however, there are many differences in development and the business culture between Hanoi and HCM City that had to be overcome.


Customers in the north are not so open-minded, which makes contact with them difficult and requires a period of education and the use of the local workforce.


Nguyen Do Viet, deputy director of the Song Da Thang Long Joint Stock Company, said the answer to that problem is for southern companies to cooperate with northern partners, initially.


"The experiences of northern firms would be useful," Viet said "Meanwhile, the northern firms will have to improve their operations and business methods to compete against southern rivals which have professional operations," Viet said.


Another firm to see the potential in the north was the HimLam Land Trading Corporation.


The HimLam Land Real Estate Trading Floor in Hanoi opened in May and sold around 20 apartments in the company’s Him Lam Riverside resident apartment project, said Nguyen Ngoc Thuy, HimLam Land general director.


Marc Townsend, CB Richard Ellis Company Ltd managing director, said foreign investors who went to HCM City first would move investment to Hanoi .


Hanoi has potential and is a good investment opportunity for foreign investors, Townsend said.


Vietnam - attractive destination for tourists, investors


HCM City
Major changes during the past three decades have made Vietnam an attractive destination for tourists, investors, and businesses worldwide, affirmed Research and Markets company.


In its July 2010 report on Vietnam Investment Environment, the leading supplier of international market research and market data, added that Vietnam is a developing and an ambitious country. There are many stories about this S-curve shape country in Southeast Asia . Most of the time Vietnam is known to the world thanks to Vietnam War. But Vietnam has many more to offer.


In the summary report posted on "", the company is in the opinion that it is worth risk taking for making investment or doing business in Vietnam, where a market economy began in early 2000s and the government started the Renewal Process since 1986 - the greatest transformation of the country since the 1975 reunification. It said WTO entry in 2007 let Vietnam further integrate into the global economy.


The report examines both the investment environment in Vietnam which is applicable to overseas investors and the landscape of international investment conducted by Vietnamese enterprises recently.


It provides details on key macroeconomic indicators, trends of foreign investment in Vietnam, taxation issues, and banking system. It also provides details on legal basis, forms of foreign investment, merger and acquisition, regulation and licensing in telecommunications, privatisation and liberalisation of the telecom market, and the new telecommunications law.


Contracts worth over 457 bln VND signed at Techmart 2010


A total of 188 contracts and memoranda of understanding worth a total 457.5 billion VND were signed at the Red River Delta region’s technology and equipment fair, which closed in Quang Ninh province on August 9.


Two hundred booths of 180 organisations at home and abroad offered 1,000 items of technologies and equipment at the fair, Techmart Quang Ninh 2010.


They included products of agro-forestry-fisheries, food and beverage, mechanics and mechanical engineering, electricity and electronics, information technology and telecommunications, environmental treatment, health and pharmaceutical sectors.


The five-day fair attracted over 70,000 visitors.


Exports of Tra fish to Russia up


Vietnam exported more than 20,000 tonnes of tra and basa fish products to Russia in the first seven months of the year, a year-on-year increase of around 11 percent.


Head of the Ministry of Agriculture and Rural Development (MARD)’s Tra and Basa Fish Exports Management Department Duong Ngoc Minh said fish had become the main item on the Russian market as chicken, beef and pork exports to Russia were facing technical barriers.


The price of tra and basa fish products also rose by 0.09 USD per kg to an average of 1.71 USD per kg, Minh added.


A number of Vietnamese seafood export businesses are expected to take part in the World Food Fair in Moscow - slated for Sept. 14-17, 2010 - in a move to promote Vietnam ’s tra and basa fish aquaculture and processing, and to seek new partners in Eastern Europe .


MARD reported that Vietnam grossed more than 2.4 billion USD from exports of seafood in the first seven months of the year, a year-on-year increase of almost 12 percent. Shrimp topped export lines in the reviewed period, raking in almost 717 million USD. It was followed by tra and basa fish with 650 million USD.


Vietnam is expected to earn around 4.82 billion USD from seafood exports in 2010, a year-on-year rise of around 13.4 percent.


Seafood producer granted GlobalGAP, IFS


The Sai Gon-Mekong Co. Ltd has been granted the Global Good Agricultural Practice (GlobalGAP) accreditation for farmed aquaculture products and the International Food Standard (IFS) certificates.


Sai Gon-Mekong is Vietnam ’s eighth enterprise to receive these accreditations. In addition, the US Chamber of Commerce has granted the enterprise a zero percent anti-dumping tax on tra fillet to the US market.


Sai Gon-Mekong company got the GlobalGAP for 15 ha of 30 ha of tra farming areas of the company in the southern city of Tra Vinh . Those farms have an output of 7,000 tonnes of products.


To develop the success of Sai Gon-Mekong, relevant agencies in Tra Vinh are coordinating with districts to help 150 tra farming enterprises and households to register for seafood origin and apply clean farming technology to meet export standard.


At present, Tra Vinh has about 100 ha of water surface along the Hau and Tien rivers for growing tra fish for exports, yielding an output of more than 16,000 tonnes with an export turnover of 4 million USD.


The locality plans to expand its acreage for tra farming to 2,900 ha by 2015 and to 3,900 ha by 2020 with an output of 248,000 tonnes.

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