AGS（AGS JOINT STOCK COMPANY）

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…

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…

The country’s largest auto exhibition, Vietnam Motor Show 2015, opened on October 28 in HCM City with 18 top automotive brands and a record 150 models. “For the last decade, Vietnam Motor Show has brought value to customers,” Yoshihisa Maruta, General Director of Toyota Vietnam and Chairman of the Vietnam Automobile Manufacturers Association (VAMA), delivered his opening speech. “Visitors will have a chance to experience advanced technology such as automatic functions that support the deceleration, and environmental friendly technologies,” he added. An online photo contest “Take a Selfie with Vietnam Motor Show 2015” will be also launched on VMS’s fanpage. Two free Thailand tours will be given to visitors taking…

Technology and electronic products distributor Digiworld Corporation (Digiworld) has been listed among top 50 Vietnam Brands 2015 by Brand Finance, a brand valuation and strategy consultancy. Brand Finance values the Digiworld brand at 19 million USD. The value of the company is 75 million USD. Last year Digiworld achieved revenues of 230 million USD, a 60 percent increase from 2013. The company distributes products made by top brands like Acer, Samsung, Dell, Toshiba, Samsung, Gateway, Genius, Logitech, Lenovo, and Nokia. It has 6,000 stores around the country. Brand Finance every year announces the values of more than 57,000 brands in the world, and this year the Vietnam list also includes…

About 600 importers from 39 countries and territories are participating in the Hanoi Gift Show 2015 that opened in Hanoi on October 27. Of the businesses, over 80 importers have the purchasing power of more than 100 million USD a year. The event, organised by the municipal Department of Industry and Trade, also sees 230 domestic businesses nationwide showcasing their typical products in nearly 600 booths. The annual event, held at the Vietnam Exhibition Fair Centre, will run until October 30.-VNA http://en.vietnamplus.vn/hanoi-gift-show-attracts-numerous-foreign-businesses/83797.vnp

Deputy Prime Minister Vu Van Ninh expressed his support for Citigroup to expand its operation in Vietnam while receiving Chief Executive Officer Michael L.Corbat in Hanoi on October 23. He was delighted that many foreign investors, including Citigroup, have chosen Vietnam as a business destination. On the occasion, the host also wished that Citigroup would continue assisting Vietnam in personnel training for the finance-banking sector. Corbat, in response, lauded the Vietnamese government for its successes in macro-economic stability, equitisation of State-owned enterprises, economic restructuring and administrative reform. Citigroup wants to continue providing Vietnam with hi-quality personnel training and an insight into regional and global economic developments, he said, adding that…

A cooperation agreement to build a bicycle production cluster in the southern province of Binh Duong was signed between representatives from the Active International Vietnam Co., Ltd and the Becamex IDC on October 23. Under the document, Active International Vietnam chose the Bau Bang Industrial Park (IP), which was invested by Becamex IDC, to house the cluster. The project, with an estimated cost of 200-250 million USD, will be built on an area of 80 hectares in the Bau Bang IP. Once completed and operational, it is expected to attract 45-60 businesses and generate jobs for 10,000 labourers. The Active International Vietnam is a subsidiary of Taiwan (China)’s DDK Corporation,…

The steel industry will grow 12 percent in the next two year under the impact of the Trans-Pacific Partnership (TPP), Nguyen Minh Nhut, director of BlueScope Steel Vietnam Limited, said at a press conference on October 21. He noted that the sector itself does not benefit from tariff reduction or elimination under the TPP. However, the TPP is expected to boost investment in other sectors, which will drive demands for construction, thus pushing up demand for steel. The sector’s current annual growth rate is seven percent. Australian steelmaker Blue Scope has established its facilities in Vietnam for 20 years with three factories built at a cost of 130 million USD.…

Vietnam is attending the 30th Trade Expo Indonesia 2015 in Jakarta from October 21 to 25.　The annual event attracts domestic and international enterprises seeking investment opportunities, information exchanges and a way to introduce their products to partners across the world.　The Vietnam booth will disseminate Vietnamese enterprises’ images and products to foreign partners.　The 2014 expo drew participation from more than 10,000 visitors from 100 countries and territories, with trade transactions coming to a total of more than 1 billion USD. 　The Indonesian government introduced several measures to stimulate the economy, attract investment and bolster ASEAN economic growth. 　Finance Minister Bambang Briidjonegoro said the government expects the economy to enjoy faster growth…

The authorities of the central province of Quang Binh held a working session with the Laos Petro Join Stock Company on October 19 to discuss the outcomes of a site survey for a bonded warehouse and oil pipeline in Vietnamese territories, reported the Lao Dong (Labour) newspaper. The survey is part of a project to construct a bonded warehouse and an oil pipeline from Quang Binh’s Hon La Island to Khammouane province in Laos. As planned, the Hon La bonded warehouse will span 30 hectares with a total capacity of about 150,000-200,000 cubic metres. The oil pipeline from Hon La to the Cha Lo border gate will have total length…

About 85.6 percent of the surveyed 4,028 enterprises in the processing-manufacturing sector expect to maintain their current growth trends or expand their business operations in the fourth quarter, according to the General Statistics Office (GSO). Data from the GSO showed that 46.8 percent of respondents were upbeat about their performance prospects, another 38.8 percent forecast stable business operation while 14.4 percent said that they would face difficulties. Escalating and stable output production will be seen in 86.2 percent of the surveyed businesses while only 13.8 percent forecast a decline. The foreign-invested sector has the highest amount of enterprises expecting a productivity surge in the last quarter of this year with…

Ministry of Agriculture and Rural Development official Nguyen Do Anh Tuan has suggested that Japanese enterprises should prioritise investments in seed production and breeding, support industries for farming, biological technology and produce maintenance in Vietnam. He also suggested that they develop farms, fish ports and irrigation works, adding that the country had been accelerating administrative reforms and support policies to attract investors into these areas. Tuan noted that, although advantages related to nature and farmers facilitates Vietnam’s agricultural development, the country’s products still remain cheap with the lack of modern technology application and linkages between production and distribution. Mori Mutsuya, Chief Representative of the Japan International Cooperation Agency (JICA) in…

Up to 2,412 contracts worth more than 200 billion VND (9 million USD) were signed at the Vietbuild international exhibition fair on construction, building materials, real estate and interior decor, freshly closed in Can Tho city. Besides, a number of foreign companies pledged to open representative offices in Mekong Delta city and Vietnam in general. The annual event hosted more than 200 local and foreign enterprises with nearly 500 booths, helping firms seek cooperation and partnership opportunities. Conferences and forums were also organised on the sidelines of the six-day fair.-VNA http://en.vietnamplus.vn/contracts-worth-over-9-mln-usd-signed-at-vietbuild/83056.vnp (151014)

Electricity of Vietnam (EVN) expects that maximum daily electrical capacity will remain below the available grid power throughout October. The country is expected to consume up to 24,790 MW per day in October, while the national grid is capable of providing between 28,000 and 29,080 MW. As such, domestic electricity consumption will be secure with sufficient backup. Due to extreme weather caused by El Nino, most reservoirs have recorded low water levels. By the end of September, total water volume across all reservoirs fell 22 billion cubic metres below last year’s level. EVN has set goals for effective use of hydropower plants and water storage facilities. It has also planned…

 Seventeen existing and new projects made a total of 9,550 apartments available in the real estate market of Ho Chi Minh City in the third quarter of this year, announced Savills Vietnam, the largest property company in the country, at a press conference on October 7. Of the figure, 5,220 units were sold, up 4 percent compared to the second quarter, with Districts 2, 7 and Binh Thanh accounting for 57 percent of the transactions. Savills Vietnam predicted about 57,000 apartments from 92 existing and future projects will be available for purchase from the fourth quarter of this year to 2017 In the July-September period, as many as 1,680 villas…

Once ratified by member country parliaments, the newly-reached Trans-Pacific Partnership (TPP) agreement will open up a new road to the future of cooperation and integration in the region, which requires each member to improve itself to greet both opportunities and their coupled challenges. October 5, 2015 marked a historical milestone for the 12 TPP countries as their trade ministers reached final consensus on the world’s largest free trade agreement after more than five years of negotiations. The TPP is a multi-lateral free trade agreement that involves not only goods and services but also non-trade affairs. Once it comes into effect, it will delineate the world’s largest free trade area with…

Ho Chi Minh City plans to set up a special economic zone spread over the four districts of 7, Binh Chanh, Nha Be, and Can Gio to develop its maritime economy and logistics industry. The HCM City Development Research Institute, which has provided the draft of the zone to the city administration, said the zone would spur the development of the area and create jobs and other livelihoods for local residents. It also said it would promote tourism and help preserve the Can Gio Mangrove Biosphere Reserve and help develop the entire southern region. In a report, it said the establishment of the zone would help convert an inefficient agricultural…

The World Bank forecast that the Vietnamese economy will grow at a speed of 6 percent in 2015, according to the East Asia and Pacific Economic Update released on October 5. The country’s poverty rate is expected to reduce with extreme poverty, which is currently set at living on 1.90 USD per day or less, tapering off from 2.8 percent in 2012 to 1 percent in 2017. Meanwhile, the population living under 3.10 USD per day is predicted to dwindle to 6.7 percent in 2017 from 12.3 percent in 2012. Economic recovery and stable macro-economic conditions will further reduce poverty. However, slower agricultural growth will affect rural resident incomes, thus…

Export turnover in the Mekong Delta province of Tien Giang hit 1.32 billion USD in the first nine months of this year, up 23 percent compared to the same period last year – the highest growth recorded thus far. According to the provincial Department of Industry and Trade, the figure reached nearly 83 percent of the yearly target. Key export products included garment-textiles, handbags and leather footwear which together accounted for 60 percent of the turnover in the period, up nearly 50 percent year-on-year. Handbag exports posted double growth while garment-textiles increased about 143 percent in terms of volume and 30 percent in value. Notably, foreign direct investment enterprises accounted…

The printing and packaging industries are expected to grow by 15-20 per cent in output this year, according to the Viet Nam Printing Association (VPA). The local printing market has steadily grown, with industrial packaging and label printing accounting for 80 per cent of the total output of the industry, said VPA Chairman Nguyen Van Dong. Industrial production expansion had contributed to the growth of industrial packaging and label printing, Dong said. Dong spoke at the 15th Vietnam International Printing & Packaging and Food Processing Industry Exhibition that opened yesterday in HCM City. Nearly 1,500 industrial packaging printing enterprises are operating nationwide with total revenue of more than US$2 billion,…

Measures to develop human resources in Vietnam were discussed at a conference, held by the Central Institute for Economic Management (CIEM) in Hanoi on September 29. Speaking at the conference, CIEM Deputy Director Nguyen Thi Tue Anh highlighted that Vietnam has to improve its human resources for prioritised sectors, saying sustainable economy is premised on human resources development. Meanwhile, Toma Massaski from the Japanese Embassy in Vietnam underscored that Vietnamese Government and relevant ministries and agencies need to pay attention to the human resources education quality while identifying fields that require advanced qualifications and technology. He stressed that high-quality manpower has a crucial role in increasing productivity and contributing to…

Despite recent losses driven by the Chinese stock rout, Vietnam’s stock market is one of the few bright spots among emerging markets tracked by US investment bank Goldman Sachs. The main support was attributed to rising exports and the Vietnamese government’s push to become an Asian manufacturing hub. The country’s economic growth perked up to 6.4 percent in the second quarter from 6.1 percent during the previous three months. Vietnam’s benchmark VN-Index has gained 4.9 percent this year while US-based MSCI Inc’s Next 11 equity gauge – which includes the Republic of Korea, Indonesia, the Philippines, Nigeria, Bangladesh, Egypt, Pakistan, Turkey, Mexico, Iran and Vietnam – has tumbled 19 percent…

The value of industrial production in the southern province of Binh Duong has hit over 152 trillion VND (6.68 billion USD) for the first nine months of the year, up 13.8 percent on a yearly basis. According to the provincial Department of Industry and Trade, the domestic sector accounted for 50 trillion VND of the figure, a rise of 12.3 percent, while the foreign-invested sector posted 103 trillion VND, up 14.6 percent. Two-digit growth of 12 out of 27 groups of key products of the locality contributed to the high increase of total industrial production. Semiconductors, refrigerating equipment, footwear, wooden furniture, steel, garment-textiles and bags saw increases between 10-31 percent.…

Japanese-invested projects have proved effective and significantly contributed to economic development in the southern province of Binh Duong, said Chairman of the provincial People’s Committee Tran Van Nam. Japanese investors have to date run 232 projects totalling approximately 5 billion USD in the locality, with a focus on electronic components, pharmaceuticals and high-quality products. Locals are most excited about the Aeon Binh Duong Canary shopping centre, which is operating effectively. Most recently, a series of projects to develop the property market, transport infrastructure and smart buses are underway in the province. Japanese-invested projects have also generated jobs for tens of thousands of local labourers. Binh Duong is currently ranked second…