Vietnam Business News
Vietnam Boosts Manufacturing Self-lifting Oilrigs
The Ministry of Science and Technology, the Vietnam National Foundation for Science and Technology Development, the National Research Institute of Mechanical Engineering, Vietnam Oil and Gas Group (PetroVietnam), and PetroVietnam Marine Shipyard JSC (PV Shipyard) will carry out the 27-month project costing VND1.184 trillion.
Vietnam First Oil Refinery Produces 1.77MT of Products in Jan-May
The plant, located in the central province of Quang Ngai, distributed 1.71 million tons of the products, including liquefied petroleum gas (LPG), propylene, gasoline A95, gasoline A92, diesel, kerosene and fuel oil, to the domestic market in the January-May period.
Garment sector strives to use domestic raw materials
According to the Viet Nam Textile and Apparel Association (VITAS), domestic textile companies only have the capacity to supply between 30-50 per cent of the countrys demand for shirts, jeans and other basic textile products. Production of vests, jackets and other high-quality clothes is primarily dependent on imported materials.
Barriers bar businesses technological renovation
Deputy Minister of Science and Technology Nguyen Quan explained that, thanks to the application of high technology, a single Hai Phong Painting Company employee can produce a volume of products worth $100,000 (nearly two billion dong) per year, which is much higher than the average level at other enterprises, estimated
High raw material costs hit industries
The textile and garment industry is particularly hard hit because it must import 80 per cent of its materials. Nguyen Duc Khiem, CEO of Viet Thang Garment and Textile Company, said the cost of viscose fibre increased last year from US$2.2 per kilo to the current price of $2.7.
Outdated technology blamed for electricity woes
"The biggest difficulty now for industrial production is the unstable electric supply," cited Hanoi Planning and Investment Department Deputy Director Nguyen Van Tu. The electricity shortage has been cited by a Hanoi Planning and Investment Department official as the most significant factor in the citys unsatisfactory industrial production value.
Energy efficient appliances slow to gain consumer trust
The technology helps machines automatically adjust refrigeration capacity based on actual conditions. As for microwave ovens, inverter technology allows constant heat to increase the machines productivity. With LCD TVs, the induction function of TVs allows it to recognize the presence of people, so a TV will automatically turn off when
US fast food chain enters Vietnam
The CKE Restaurants chain is keen to expand its business on Vietnams consumer market, said CEO Andrew F. Puzder on June 1 at the opening of its first restaurant in the country. Mr. Puzder announced that a total of 25 new fast food restaurants will open in Vietnam in the
Hanoi-Chu Lai direct air route in operation
Vietnam Airlines opened a direct air route from Hanoi to Chu Lai airport in the central province of Quang Nam on June 2. It will run four regular fights per week on Monday, Wednesday, Friday and Sunday, using Fokker 70 aircraft.
Lack of integration handicaps Vietnams agro-industry
Most Vietnamese food processors lack stable relationships with farmers and aquaculturists, reports Nguoi Lao Dong, and thus must wonder if theyll have the supply they need to fill orders from customers.
Popular Vietnam Business News
Tasco plans to raise chartered capital to 135 billion dong
In details, the company will issue 5.5 million shares for existing shareholders with par value of 10,000 dong per share, under the ratio of 1:1 or one old share for
Vinashin Affiliate Launches First Car-carrying Ship
. Ha Long Shipbuilding Company, an affiliate of Vietnam Shipbuilding Industry Group (Vinashin), launched a 70,000 DWT car-carrying vessel on Tuesday, July 21 in the northern province of Quang Ninh.
Tolls proposed on cars using downtown streets
The citys Tien Phong Technology Joint Stock Company has proposed starting toll collection on cars using downtown streets from January 2012 with a fee level from US$1 to US$2, or
Vietnam hub recalls milk with content deficiencies
Health inspectors in Ho Chi Minh City on Wednesday ordered the recall of five milk products that did not contain the quantity of protein announced on their labels, and suspended
Leap in exports pushes trade deficit to $5.4b in five months
The countrys trade deficit reaches US$5.4 billion in the first five months of the year, according to experts from the General Statistics Office (GSO). The trade deficit was equivalent to
World Bank Predicts US$2.6B Surplus in Vietnam Balance of Payments in 2010
An excess of US$11.7 billion in the capital account will help Vietnam cover a shortfall of US$9.1 billion in the current account this year, the Hanoi-based Chief Economist Martin Rama
HCM City holds global marketing expo
The countrys first-ever International Advertising Equipment and Technology Exhibition opened August 5 in HCM City. The three-day event, Vietad 2010, has attracted more than 150 booths and nearly 70 domestic
Businesses weary of revised automatic import license procedure
Long Quoc Trung, Director of Matsu Electronics, a distributor of refrigeration equipment from Malaysia, said he is nervous because after two weeks, he still has not got confirmation of his
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