AGS（AGS JOINT STOCK COMPANY）

HCM City (VNA) – Jollibee has begun franchising in Vietnam, marking a new strategy in the country for the Philippine fast food chain. A five-year franchise contract, estimated to cost 4.5-5 billion VND (200,500-223,000 USD), will see Jollibee advise on staff training, restaurant layout, equipment, raw materials and others. Franchisees will also benefit from the company’s marketing activities. Tran Thi Lan Anh, deputy chairwoman of Jollibee Food Corporation and general manager of Jollibee Vietnam, said the company would have 73 of its stores nation-wide by the end of this year, up from 69 now. Founded in 1975 as a single ice cream parlour in Manila, Jollibee is today the flagship…

Hanoi (VNA) – The US Department of Commerce (DOC)’s launch of investigations into the dumping of circular welded carbon-quality steel pipes imported from five countries, including Vietnam, is groundless, stated Foreign Ministry spokesman Le Hai Binh. Replying reporters’ queries on Vietnam’s response to this issue at the ministry’s regular press conference on November 26, Binh affirmed that Vietnamese companies are operating in accordance with the market mechanism without subsidies from the Government and they don’t dump the product in the US market. The DOC should acknowledge and address the issue objectively and fairly in the spirit of trade liberalisation and in accordance with commitments to multi-lateral trade liberalisation as well…

Hanoi (VNA) – Vietnam’s agricultural product exports to China reached about 4.3 billion USD in the first nine months of 2015 as heard at a conference on Vietnam-China trade and investment on agricultural product in Hanoi on November 24. The event was organised by the Vietnam Chamber of Commerce and Industry, the Hanoi Investment, Trade and Tourism Promotion Centre and the China-ASEAN Centre reported Ha Noi Moi newspaper. Representatives from the two countries’ enterprises exchanged information on fruit export-import demand, particularly in the context of the expansion of trade with third countries through Vietnam-China border gates. Deputy Chairman of China’s Food and Agriculture Products Rong Weidong said China is a…

Hanoi (VNA) – PetroVietnam Gas (PV Gas) has been named in the list of ASEAN 100 companies by Asia’s leading business magazine Nikkei Asian Review. 　With a market capitalisation of 9.43 billion USD and a net profit of 584 million USD in the latest fiscal year, PV Gas was placed in the 48th position and is the only Vietnamese company on the list. 　PV Gas is the third largest company in the region’s oil and gas sector, behind only Thailand’s PTT and its affiliate PTT Exploration and Production. 　Singapore Telecommunications tops the list with a market capitalisation of 47 billion USD.-VNA http://en.vietnamplus.vn/pv-gas-named-in-list-of-asean-100-companies/85185.vnp (151130)

Illustrative image (Source: Internet) Hanoi (VNA) – The Vietnam Export-Import Commercial Joint Stock Bank (Eximbank) will use India- based Infosys’ new software Finacle Core Banking for its banking products and services and internal management. The agreement was made at a signing ceremony held in HCM City last week. The software has a modern architecture and technology foundation that can help banks easily develop products, services and expand branches in the future; provide the ability to handle online transactions in multiple languages and currencies; and shorten time to solve problems. “Customer demand for modern banking technology is increasing. It requires Eximbank to choose proper technology solutions”, said Dang Phuoc Dua, Eximbank…

HCM City (VNA) – A number of authorised auto importers and distributors in Vietnam have confirmed they’ll attend the 2016 Vietnam International Motor Show (VIMS) scheduled for October 26-30 next year in Ho Chi Minh City. Four-wheeled vehicle fans in the city will have a chance to contemplate a variety of imported models from well-known brands such as Audi, BMW, Jaguar, Land Rover, Mini, Porsche, Renault, Rolls-Royce, Subaru and Volkswagen. The event follows October’s successful VIMS 2015, the first motor show of its kind in Vietnam. It was held in Hanoi. Laurent Genet, General Director of Audi Vietnam, representing car importers, said the five-day VIMS 2015 attracted more than 70,000…

When asked to make comments about Vietnam’s low productivity reported by International Labor Organization (ILO), Nguyen Xuan Duong, chair of Hung Yen Garment Company, said the productivity of the garment industry was low, but specific businesses had a higher level of productivity. The productivity is calculated based on workers’ skills. At Hung Yen Garment Company, productivity in 2014 was $2.5 per working hour, which was equal to that of Thailand in 2012. However, the average productivity in the garment industry was just equal to 60 percent of other regional countries, $1.5-1.8 per working hour. Vietnam’s garment industry only began developing in a number of years ago, and workers still don’t…

Hanoi (VNA) – The import of second-hand information technology (IT) products will be prohibited from December 15. The Ministry of Information and Communications has issued Circular No 31/2015/TT-BTTTT, stipulating the ban for products such as laptops, tablets and mobile phones, along with speakers, flash disk drives, as well as liquid-crystal display and light emitting diode screens, digital cameras. The ban will also apply to used components and accessories of these products. The circular provides guidelines for the implementation of Decree No 187/2013/ND-CP, which was issued in November 2013 on enforcing the law of commerce with regard to the international trade of goods. It replaces Circular No 11/2012/TT-BTTTT. -VNA http://en.vietnamplus.vn/imports-of-used-it-goods-to-be-banned/84750.vnp http://en.vietnamplus.vn/imports-of-used-it-goods-to-be-banned/84750.vnp

HCM City (VNA) – Exporters signed contracts to sell nearly 2 million tonnes of rice overseas in October, exceeding the figure of the same period last year by over 22 percent and a record volume for one month. The outcome is attributable to the winning of bids to sell more than 1.5 million tonnes of rice to the Philippines, Indonesia, and Cuba. According to the Vietnam Food Association (VFA), in the last ten months, Vietnam exported over 5 million tonnes of rice, a slight decrease of 6 percent year-on-year. The export price also dropped by 24.03 USD per tonne. Asia maintained its position as Vietnam’s biggest rice importer, despite an…

VietNamNet Bridge – About 20 percent or 20 million Vietnamese residents have bank accounts but the number of issued cards quadruples it to reach 86 million this year meaning tens of millions of cards have been idle, according to the General Statistics Office of Vietnam. The Vietnam Bank Card Association said that the number of cards issued this year has been up 30 percent over 2013, comprising 90 percent domestic cards and 10 percent international cards. Banknet.vn reported that 50 percent of current payment cards in Vietnam do not operate at all. The above numbers prove that bank card issue has run after quantity not customers’ demand, causing waste because…

Jakarta (VNA) – A number of Vietnamese firms are joining the international exhibition on food and beverages InterFood Indonesia 2015, Southeast Asia’s leading food showcase held annually in Jakarta, Indonesia. The four-day event offers a venue for networking and accessing new innovations used in food and beverage manufacturing. Exhibitors are more than 800 local and foreign enterprises from 22 countries, including leading players in the industry that came to seek suppliers of materials and goods. Sideline events include a seminar and customer conferences that introduce new products and technological advances. With a population of approximately 250 million people, Indonesia is a promising market for food and beverage products which account…

The total power output of the electricity sector in the first ten months of this year reached 136.25 billion kWh, up 12.95 percent compared to the same period last year, according to a report released by the Electricity of Vietnam (EVN). 　The group’s power output alone in the period was 132.64 billion kWh, up 11.69 percent year-on-year. Of the figure, power generation from hydroelectricity plants made up 37.6 percent of the total while, those from from thermal power and gas-fuelled plants were 31.69 and 29 percent, respectively. 　EVN completed four 500-220kV transmission line projects and began construction on seven 220kV projects.　According to the EVN, the group is accelerating to put…

Hanoi (VNA) – A number of incentives to boost the development of the have been introduced, under a recently approved decree. According to Decree No. 111/2015/ND-CP, organisations and individuals who study and work to develop prioritised support industry products under the Support Industry Development Programme will be eligible for financial and land incentives. Those involved in technology transfer in the prioritised support sectors will also get incentives. In addition, individuals who participate in the Support Industry Development Programme will be trained at home or abroad to enhance their abilities. The prioritised support industry products will be introduced in a national trade promotion programme, receive financial support for brand name registration,…

HCM City (VNA) – Apple’s latest dual handsets, the iPhone 6s and iPhone 6s Plus officially became available on shelves in selected stores in Ho Chi Minh City on November 6. The price of the iPhone 6s starts from 18.890 million VND (859 USD) and the iPhone 6s Plus starts from 21.790 million VND (991 USD). Prices might vary between retailers. The thegioididong.com system has received more than 3,000 orders since October 30. Of these, more than 2,400 customers made a deposit to purchase the products, marking an unprecedented order record for the company. The Gioi Di Dong Investment Ltd Company’s Head of Pre-Paid Programming, Huynh Van Tot, said that…

Hanoi (VNA) – The Bank for Investment and Development of Vietnam (BIDV) on November 5 signed an agreement to secure a five-year loan worth 200 million USD from the China Development Bank (CDB). The financial resource will enable BIDV to improve its capacity of financing middle and long term loans for economic development projects. On the same day, the two banks also signed a comprehensive cooperation agreement. Accordingly, BIDV and CDB will cooperate in granting credits and co-fund projects of the two sides’ clients. The agreement also covered the fields of investment opportunities, international payments, sponsorship for trade, and foreign currency exchange. The issue of participating in the China -ASEAN…

Havana (VNA) – Vietnam is joining 4,500 foreign exhibitors from 60 countries and territories worldwide at the 33rd Havana International Fair 2015 (FIHAV), which is taking place in Havana from November 2-7. A Vietnam Day and a Cuba- Vietnam business conference are scheduled to be held on November 3 and 4, respectively, in the framework of the fair. Consumer goods, machinery, equipment, raw materials and services, among others, are on display on an exhibiting area of more than 20,000 square metres. This year’s event has seen the largest number of participants in the past 15 years, Cuban Foreign Trade and Investment Minister Rodrigo Malmierca said at the opening ceremony, highlighting…

Japan’s Satake Corporation aims to invest in the Mekong Delta city of Can Tho’s agricultural equipment, General Director Nguyen Trong Hieu told municipal authorities on November 2. Satake works on high-tech machinery for agriculture, from sowing to post-harvest preservation. It plans to introduce Can Tho to seed-split and drying equipment with a designed capacity of 30-120 tonnes per batch. Municipal People’s Committee Vice Chairman Dao Anh Dung suggested Satake hold seminars to introduce products, support policies and technology transfers. Can Tho will work closely with Satake to launch product displays, he said, adding that http://en.vietnamplus.vn/japanese-corporation-to-introduce-farming-machinery-to-can-tho/84099.vnp http://en.vietnamplus.vn/japanese-corporation-to-introduce-farming-machinery-to-can-tho/84099.vnp

A total of 1,285 memoranda of understanding (MoU) and contracts were signed at the Hanoi Gift Show 2015 that wrapped up on October 30.  Of the figure, 865 contracts worth 150 million USD were reached with foreign importers.  Total retail sales of goods at the show exceeded 10 billion VND (450,000 USD).  The four-day event attracted about 600 importers from 39 countries and territories worldwide and 230 domestic businesses showcasing their typical products in nearly 600 booths.  Speaking at the closing ceremony, Pham Quang Nghi, Secretary of the Hanoi Party’s Committee, noted his hope that the municipal Department of Industry and Trade will join hands with relevant departments and agencies…

A total of 1,285 memoranda of understanding (MoU) and contracts were signed at the Hanoi Gift Show 2015 that wrapped up on October 30.  Of the figure, 865 contracts worth 150 million USD were reached with foreign importers.  Total retail sales of goods at the show exceeded 10 billion VND (450,000 USD).  The four-day event attracted about 600 importers from 39 countries and territories worldwide and 230 domestic businesses showcasing their typical products in nearly 600 booths.  Speaking at the closing ceremony, Pham Quang Nghi, Secretary of the Hanoi Party’s Committee, noted his hope that the municipal Department of Industry and Trade will join hands with relevant departments and agencies…

A total of 1,285 memoranda of understanding (MoU) and contracts were signed at the Hanoi Gift Show 2015 that wrapped up on October 30.  Of the figure, 865 contracts worth 150 million USD were reached with foreign importers.  Total retail sales of goods at the show exceeded 10 billion VND (450,000 USD).  The four-day event attracted about 600 importers from 39 countries and territories worldwide and 230 domestic businesses showcasing their typical products in nearly 600 booths.  Speaking at the closing ceremony, Pham Quang Nghi, Secretary of the Hanoi Party’s Committee, noted his hope that the municipal Department of Industry and Trade will join hands with relevant departments and agencies…