Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade BTCUSD, Bitcoin and Cryptocurrencies

BUY & SELL BTCUSD | View BTCUSD News & Updates

Buy Sell BTCUSD, Bitcoin and Cryptocurrencies

Good news comes at the beginning of the year of Dragon   2012-02-06 - VietNamNet

A lot of businesses have opened new shops or held ground breaking ceremonies to kick start new projects, hoping to obtain big achievements in the year of Dragon. Meanwhile, multi-billion dollar foreign invested projects have become the first New Year’s callers.


A representative of Dong Duong Steel said the company has taken the first orders right after the Tet holiday from some strategic clients. The orders are worth some one billion dong. It is expected that the company would open three more branches in Can Tho, Dong Nai and Binh Duong provinces.

Nguyen Tan Vu, Deputy General Director of the Thien Nam Elevator Company, said that when returning to work after the Tet holiday, Thien Nam has received an order from a Japanese factory which is operating in Vietnam. The factory has ordered 30 lifts worth 21 billion dong.

At present, Thien Nam is gearing up to fulfill the order from another Japanese partner. It needs to export a consignment of four lifts to Japan. Therefore, it has to gear up production before and after Tet in order to deliver products on schedule.

Vu anticipates that 2012 would be another difficult year for the real estate sector and relating business fields such as elevator manufacturing. Despite the input material price increases, Thien Nam still tries to maintain the current sale prices until the end of the first quarter in order to obtain more jobs.

Deputy General Director of Vinatextmart Tran Thanh Nhan said that Vinatextmart is going to open a new fashion center at No 25 Ba Trieu Street in Hanoi, and another supermarket later in Ha Dong district. The garment distribution chain strives to increase the number of retail points to 93 in 2012 from 63 currently.

Right after Tet holiday, An Phong Investment Company, the investor of Maximark distribution chain, would hold the ground breaking ceremony to build the third Maximark supermarket in Go Vap district in HCM City. The chain has got six supermarkets, including two in HCM City, one in Can Tho and three in Khanh Hoa.

Holcim Vietnam, a well known cement manufacturer, has announced that in the first quarter of 2012, the company would spend 3.5 million dollars to implement the ESP project (Electrostatic Precipitators). It is expected that in August 2012, the company would put the 18 million dollar project on generating power from exhaust fumes into operation. The power generation station has the capacity of 44 million kWh.

Garment companies are running at full capacity, though analysts predicted before that the number of orders would reduce by 15 percent.

Pham Xuan Hong, General Director of Saigon 3 Garment Company, said that in the first week after Tet holiday, the company would export 3-4 containers of 60,000 products, worth one million dollars, and open the embroidery workshop in Binh Duong province.

Hong also said that after Tet, Saigon 3 would recruit 200 more workers to serve the two new production lines to be put into operation.

Meanwhile, big scale foreign invested projects have been licensed right at the beginning of the New Lunar Year.

The project on car tyre production in the Dinh Vu industrial zone in Hai Phong City by the Japanese investor Bridgestone was licensed on February 1. Right before the Tet holiday, on January 19, the Hai Phong City’s People’s Committee set up a steering committee in charge of implementing project. The most important task of the committee was to give guidance and assist to settle difficulties in order to be able to license the project soon.

According to Pham Thuyen from the Hai Phong Management Board of Economic Zone Management, the next project to be licensed would be the photocopier factory of Xerox, or pharmacy plant of Nipro Corporation.

Other news

Office rent down, businesses march toward central areas   2012-02-06

Aviation sector: opportunities still can be found on the severe land   2012-02-06

Auto market freezes, manufacturers consider scaling down production   2012-02-05

Securities analysts predict positive signs for economy and stock market   2012-02-04

Vietnam’s card market needs a push to develop   2012-02-04

Housing prices increased more than 100 times over the last 20 years   2012-02-03

Overseas centres promote Vietnamese goods   2012-02-02

Can Tho to shut down delayed FDI projects   2012-02-01

Foreign currency credit still be attractive to businesses in 2012   2012-02-01

Capital for bank restructuring mostly come from laymen   2012-02-01

In 2012, Vietnamese businessmen keep self-confident and cautious   2012-02-01

Investments in steel industry slowing down   2012-02-01

Investment bank raises $75m from IPO   2012-01-31

Ports in Mekong Delta have abundant loading capacity   2012-01-31