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BUSINESS IN BRIEF 15/9   2008-09-15 - VOV, VNS, CPV, TBKTVN, NLD

 
Vietnamese footwear exports to Germany on the rise

Despite the EC’s imposing anti-dumping tax on Vietnamese footwear, the volume of leather shoes exported to Germany continues to rise.

Vietnam ranks second only to China among footwear exporters to Germany. The German Rhein Post newspaper on September 13 said that in the first half of this year, Vietnamese footwear exported to Germany increased by 10.2 percent to 41 million pairs of shoes compared to the same period last year. Last year Vietnam exported 71 million pairs of shoes to Germany, up 7.2 percent.

In 2007, Chinese footwear accounted for 51 percent of total German footwear imports, followed by Vietnam (14 percent) and Italy (7 percent).

One of reasons that Vietnamese and Chinese footwear are imported to Germany is that they are much cheaper than those made in Germany and other European countries.

Vietnam in dire need of marine environmental experts

A seminar held in Hanoi on September 13 by the Ministry of Education and Training and the Ministry of Natural Resources and the Environment showed that university graduates now meet only 20-30 percent of the human resource demand in the marine environment sector.

Meanwhile, Vietnam boasts a long coastline of more than 3,260km with the marine economy accounting for 12 percent of the country’s GDP and 50 percent of its export value. The Communist Party of Vietnam has fully recognized the vital importance of the sea to Vietnam’s environment and economy.

Participants in the seminar said some 300 university students graduate with marine majors annually but only 20-30 percent of them pursue jobs in the field because of risks and low salaries.

Some experts spoke of the need to raise incomes and incentives for those working in the sector and upgrade facilities at universities and agencies to ensure safety during the process of exploration and research. Others held that the universities should expand their international cooperation to help improve both lecturers and students’ abilities to explore the marine environment.

FDI in Vinh Phuc surges

Over the past several years, Vinh Phuc Province has been a key center economic growth, and has seen enormous gains with the important contribution of FDI economic sectors. Foreign economic activities have provided significant achievements, helping the province integrate into the world economy.

During the three year period between 2006 and 2008, Vinh Phuc attracted 91 new FDI projects with a registered capital of USD 2.213 billion, raising the total number of FID projects to 170, with a registered capital of around USD 2.8 billion. Implemented capital reached 38-40 percent.

In July 2008 alone, the province licensed 5 FDI projects worth USD 151 million, a 57.6 percent year on year.

The export market of the province has also expanded. 108 businesses exported commodities to 40 countries and territories around the world. Total export turnover increased 32.59 percent on average with an estimated USD 463.68 million in 2008. Total export and import turnover increased 39.26 percent averagely with an estimated USD 1.496 billion (mainly in machines and devices).

FDI sectors in Vinh Phuc Province had higher economic growth than other sectors with a 33.09 percent increase in 2008, accounting for 44.7 percent of GDP.

LGC to issue 4.5 million shares to stockholders

Lugia Mechanical Electric Joint Stock Company (LGC) will sell 4.5 million shares to its existing shareholders at a ratio of 1:1.5 and at price of VND15,000 per share. It will also sell 150,000 shares to company employees.

September 30, 2008 will be the registration deadline for shareholders wishing to buy.

SGD to pay dividend for first phase on Sep 22

HCM CityEducational Book Joint Stock Company (SGD) has announced the registration deadline to receive the first dividends of this year.

September 22 will be the deadline for registration. The ratio of the dividend payment is 10 per cent per share, with shareholders receiving VND1,000 per share.

Haxaco to increase charter capital to VND80 billion

Haxaco, Hang Xanh Motors Service Joint Stock Company, has announced its plan to increase its charter capital from VND43.3 billion to VND80 billion this year by issuing shares to its strategic partners and existing shareholders.

To accomplish this goal, the company will sell more than 3.6 million additional shares to the public and issue over 1.7 million shares to already existing shareholders at a ratio of 5:2. The price for existing shareholders will not be lower than VND15,000 per share, and the price for new shareholders will not be lower than VND25,000 per share.



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