Hong Kong paper hails Vietnam’s return
to int’l bond market
Foreign
investors part of Vietnam economy
- PM Dung
Vietnam’s economy recovers rapidly by JETRO
Retail market rises above global crisis
Russian businesses talk investment chances in Vietnam
Vietnam looks to invest more abroad
US
leads foreign investors in Vietnam in 2009
Gazprom plans big investments in Vietnam, India
Vietnam, United States of America boost cooperation in
pharmaceuticals
Largest regional solid waste treatment plant goes into
operation
Japan pledges record aid of 1.6 billion USD
ODA forecast to pass 5 billion USD
Ho
Chi Minh City leads in FDI attraction
Vietnam enters top ten software
outsourcing destinations
Vietnam to explore for oil in Cambodia
Fund pours 223 million USD into real estate
Russia set to prepare for agreements with Vietnam
Hong Kong paper hails Vietnam’s return to
int’l bond market
After a four-year absence,
Vietnam came back to the international bond market on Jan.
26 with a 10-year issuance that “fared well” on its first
day of trading compared with the early January issues from
Indonesia and the Philippines.
In an article posted on Jan.
27, Hong Kong’s FinanceAsia online newspaper said Vietnam
executed a 1 billion USD, 10-year bond offering that became
the country's second sovereign bond issue since October
2005.
Barclays, CitiBank and
Deutsche Bank, which arranged the deal, had been quietly
confident that they would attract a sizeable number of bids
and, in the end, the order book comprised 200 accounts.
The deal was 2.4 times
subscribed with a total order amount of 2.4 billion USD.
The paper said although
rating agencies put Vietnam on a negative watch, there was
still a high-quality pool of real money interest from the
US, Europe and Asia.
Final allocation saw 56
percent of the deal go to the US, 16 percent to European
investors and 28 percent to Asia.
Vietnam was the third Asian
sovereign issuer in the global bond market this year, after
Indonesia and the Philippines. The country made a debut
offering on the international bond markets in October 2005.
Go top
(Source:
Vietnam News Agency - Vietnam Plus)
Foreign
investors part of Vietnam economy
- PM Dung
Foreign investors who are
doing business in Vietnam are considered a part of the
country’s economy, especially as the successful performance
of any enterprise contributes to economic development.
Prime Minister Nguyen Tan
Dung made the affirmation while having dialogues with more
than 20 Presidents and Managers of the world’s leading
finance and banking, real estate, energy, civil engineering,
telecom and health groups in Davos, Switzerland on Jan. 28.
The dialogue, the second of
its kind between PM Dung and the world’s leading
businessmen, on the sidelines of the annual World Economic
Forum (WEF), conveyed the international business circle’s
positive feelings towards Vietnam, a country that has
successfully overcome the financial crisis.
PM Dung cited 21 billion USD
in FDI in 2009 as evidence of Vietnam’s attractiveness to
foreign investors despite the impact of the world financial
crisis.
Additionally, international
donors committed to providing a record 8 billion USD of ODA
to Vietnam in the 2010 fiscal year.
Throughout numerous
difficulties, the country has tried its best to accelerate
administrative reform to create a more open environment for
economic development, promote investment, improve the
effectiveness of infrastructure projects and develop human
resources and scientific technology, he said.
Vietnam has considered the
global financial crisis—rather than being a challenge--an
opportunity to make a drastic change in its own economic
foundation, PM Dung stressed.
The PM also responded to
questions relating to the country’s solutions and
experiences in coping with crisis, measures to increase the
economy’s competitiveness, priority sectors for development
and foreign investment attraction, orientations to develop
the banking sector, energy development strategy as well as
the country’s administrative reform and anti-corruption
measures.
On the sideline of the 2010
WEF, Prime Minister Nguyen Tan Dung met with President of
Credit Suisse Paul Callelo, during which he spoke highly of
the bank’s contributions to Vietnam as it has helped
arranged 3 billion USD of internationally-funded capital for
the Southeast Asia country since 2005.
Credit Suisse has funded
Vietnam Airlines, the Vietnam Coal and Mineral Industries
Group and mobilised financial support for PetroVietnam,
Electricity of Vietnam and Vietnam National Shipping Lines.
President Paul Callelo
highly praised the efforts and effective measures Vietnam
has undertaken to deal with the global financial and
economic crisis.
Vietnam is a priority
development destination for Credit Suisse, he affirmed,
pledging that the bank is willing to help and provide new
financial services in Vietnam.
Later on, under the witness
of PM Dung, Credit Suisse granted a contract to set up 200
million USD in capital for Vietnam ’s Kinh Bac Urban
Development Corporation.
Go top
(Source:
Vietnam News Agency - Vietnam Plus)
Vietnam’s economy
recovers rapidly by JETRO
An official from the Japan
External Trade Organisation (JETRO) has hailed Vietnam’s
stimulus policies and its rapid economic recovery.
“Compared with the stagnant
economies of developed nations, the tempo of economic
recovery in Vietnam is extremely fast,” said Managing
Director of the JETRO Office in Hanoi Yoshida Sakae in an
interview granted to Thoi bao Kinh te Vietnam (Vietnam
Economic Times) on Jan. 26.
Powered by Vietnam’s
economic restoration, Japanese companies operating in the
country have recovered over 80 percent of their production
output and many of them are recruiting more workers, he
said.
Since mid 2009, the JETRO
Hanoi Office has received an increasing number of
applications for consultancy for new projects, the official
said, adding that Japanese enterprises have always
considered Vietnam “a firm manufacturing base and
consumption market in the long run,” the official added.
Regarding the inflow of
foreign investment, Sakae said the implementation of the
action plan of the Vietnam-Japan Joint Initiative would
improve the investment environment and increase the number
of Japanese projects in Vietnam.
The strict fulfilment of its
commitments to the World Trade Organisation (WTO) will help
Vietnam attract more foreign investment, he said.
However, the JETRO official
also recommended that Vietnam continue improving the quality
of human resources and simplifying administrative reforms in
the coming time.
Go top
(Source:
Vietnam News Agency - Vietnam Plus)
Retail market
rises above global crisis
Vietnam ’s retail market weathered the global financial
crisis to reach a year on year sales growth rate of 18.6
percent in 2009, although the market was opened just over a
year ago.
The figures are of great significance as the world’s major
markets, including the US , Japan , the Republic of Korea
and the European Union, saw minus growth rates, heard
experts at a seminar in Hanoi January 22.
Dinh Thi My Loan, Vice President and General Secretary of
the Vietnam Retail Association, reported that retail
revenues recorded almost 1,200 trillion VND (64.8 billion
USD) in 2009 and are expected to reach 1,440 trillion VND
(77.8 billion USD) this year.
Representatives of foreign distribution and retail firms,
including the Big C, praised the potential and business
opportunities in Vietnam, especially since the country
opened up its retail market as part of its commitments to
the World Trade Organisation (WTO) on January 1, 2009.
They also unveiled plans to expand their distribution
networks to many cities and provinces throughout Vietnam.
The Director of CB Richard Ellis Vietnam, Richard Leech,
said that despite the adverse impact of the global economic
crisis, Vietnam’s retail market still attracted big names
such as Naf Naf, Morgan de Toi and Mexx in 2009. He was
optimistic that other brand names will continue to come to
Vietnam this year.
The Deputy General Director of the Nguyen Kim Trading
Company, Huynh Van Ro, revealed that his company is planning
to open 50 more shopping centres, to realise its target of
becoming a national leader in the country’s retail industry.
Meanwhile, the Hanoi Trading Corporation is bent on becoming
one of the country’s leading retailers in Vietnam by 2015,
with two hypermarkets, five shopping centres, 60
supermarkets and 30 convenience stores.
Go top
(Source:
Vietnam News Agency - Vietnam Plus)
Russian businesses
talk investment chances in Vietnam
A workshop on Vietnam ’s
potentials and investment opportunities was held in Moscow,
Russia, on Jan. 19.
Addressing the function,
Vice Chairman of the Russian Chamber of Commerce and
Industry Gheorgy Petrov said Vietnam is a promising
investment market.
Russian investors can join
in setting up oil refinery and metallurgy businesses,
executing power projects, building hotels and business
centres, providing machinery and equipment as well as
manufacturing automobile in Vietnam , Petrov said.
Vietnamese Ambassador Bui
Dinh Dinh applauded the organisation of the seminar, saying
that similar activities will help promote traditional
friendship and strategic partnership between the two
countries.
Last year, two-way trade
recorded a year-on-year rise of 4 percent, fetching more
than 1.7 billion USD in 2009, said Dinh.
Deputy Minister of Planning
and Investment Cao Viet Sinh briefed the participants of the
country’s political stability and social security, a high
economic growth and huge investment demand which made
Vietnam a destination for foreign investors.
The Vietnamese Government is
striving to finalise its legal system and policies to
encourage local and foreign investors, he said, noting that
the gov’t is calling for foreign investment in five
important sectors.
He took the occasion to call
for closer cooperation between Russian and Vietnamese
businesses for mutual development and for prosperity,
friendship and benefits of the two peoples.
Russian businesses discussed
issues relating to investment in manufacturing construction
cranes, energy projects, realty market and housing, training
officials, a free economic area in Vietnam and the framework
of ASEAN.
Go top
(Source:
Vietnam News Agency - Vietnam Plus)
Vietnam looks to
invest more abroad
Investment outflow of
Vietnamese businesses into foreign countries and territories
is expected to increase with a yearly average of 500 million
USD, according to the Ministry of Planning and Investment (MPI)’s
Foreign Investment Agency.
Last year saw a wave of
Vietnamese foreign investment. Deputy head of the
department, Bui Quoc Trung, said Vietnam invested in 457
projects with 7.2 billion USD in over 50 countries and
territories. The figures reached 143 percent of set targets
and over twice as much as the total investment between 1989
and 2008.
Agriculture ranked first,
accounting for 40 percent of the total projects and 68
percent of total investment. The service sector followed
with 19 percent of the projects and over 2 billion USD
disbursed last year.
Many projects were in
high-tech sectors and were distributed worldwide.
This year, traditional
markets including Laos , Cambodia , Russia , Malaysia and
Algeria will still be attractive destinations for Vietnam ’s
investors. However, businesses will also expand their
markets in Japan , the US , the Republic of Korea and
Singapore who have been big investors in Vietnam .
According to the Minister of
Planning and Investment, Vo Hong Phuc, the country’s trade
turnover reach 125 billion USD despite the global economic
downturn. Of these markets, Vietnamese investors were
particularly successful in Laos and Cambodia . Projects in
the two countries increased both in quantity and capital
with an average investment of 14.2 million USD per project.
Prime Minister Nguyen Tan
Dung, at a conference in HCM City on December 26, 2009, said
Vietnam now had over 60 projects in Cambodia with a total
capital of nearly 900 million USD, making Vietnam among the
top three foreign investors in Cambodia.
Laos has also been a
promising markets for Vietnamese investors due to its
potential in gold exploration and processing as well as
other minerals.
The 1 billion USD project to
build a golf course and a five-star hotel in Laos by Long
Thanh Golf Investment and Trade Joint Stock Company has been
Vietnam ’s biggest foreign investment project so far.
The country also attracted
Vietnamese investors in the agro-forestry and processing
industry with seven projects, worth more than 140 million
USD.
According to former head of
the Foreign Investment Agency, Phan Huu Thang, the rapid
growth of Vietnam ’s investment outflow is an objective
trend which is suitable with its development and
international integration.
The MPI is continuing to
complete legal framework and policies for investment, thus
creating favourable conditions for Vietnamese businesses.
Go top
(Source:
Vietnam News Agency - Vietnam Plus)
US leads foreign
investors in Vietnam in 2009
The US became the leading
investor among the 43 countries and territories investing in
Vietnam in 2009 with a total capital of 9.8 billion USD.
The Foreign Investment
Department of the Ministry of Planning and Investment said
that the US investment capital made up 45.6 percent of the
country’s total foreign investment.
The US was followed by
Cayman Islands with more than 2 billion USD.
Apart from Hanoi and HCM
City , US investors focused their ventures on other
localities with potential economic development like the
southern provinces of Dong Nai and Ba Ria-Vung Tau.
Director of the Ba Ria-Vung
Tau Investment Promotion Centre, Vo Trinh Trieu, said that
the US is the largest financier in his province with more
than 5.8 billion USD, representing over 23.2 percent of its
total foreign investment capital.
During a visit to Vietnam in
early Dec. 2009, ex-President of the US Chamber of Commerce
(AmCham) and President of the US Amway Group Steve Van Andel
told the press that the increase in US investment in the
country has opened positive prospects. This proved that US
businesses and entrepreneurs show interest in Vietnam .
In 2008, US investment
capital only totalled more than 1.5 billion USD.
Go top
(Source:
Vietnam News Agency - Vietnam Plus)
Gazprom plans big
investments in Vietnam, India
Russia ’s gas giant Gazprom is planning to invest 14.9
billion RUB (approximately 505 million USD) in gas
exploration and production in Vietnam and India next year.
Up to 9.43 billion RUB of the sum will be allocated to
Vietnam , reported the Vedomosti newspaper on Dec. 8.
This will be Gazprom’s largest-ever investment as the group
has just spent 2 billion RUB exploring for gas in Russia’s
continental shelf and the planned capital for its big gas
project in the Shtokman field is less than 13 billion RUB.
The group expects to begin production in India by 2012 and
in Vietnam three years later, with a total combined output
equivalent to nearly 1.1 billion tonnes of oil.
Gazprom is now searching for gas in a field in the Gulf of
Bengal in India and six other fields in Vietnam’s
continental shelf.
Go top
(Source:
Vietnam News Agency - Vietnam Plus)
Vietnam, United
States of America boost cooperation in pharmaceuticals
Vietnam demonstrated
interest in the United States ’ proposals on boosting
bilateral cooperation in the field of pharmaceutical
chemistry.
At a meeting with former US
Trade Representative Charlene Barshefsky in Hanoi on
December 9, Deputy Prime Minister Hoang Trung Hai stressed
the importance of the pharmaceutical chemistry as a
spearhead in the high-tech sector. Vietnam ’s target to
build a pharmaceutical industry will allow the country to
boost its economy by gradually reducing its dependence on
foreign imports, and take initiatives in providing
healthcare services to people.
For her part, Barshefsky
informed Hai of the work between the US delegation and the
Ministry of Industry and Trade and the Ministry of Health in
that the two sides acknowledged opportunities and challenges
in the development of the pharmaceutical chemistry in
Vietnam as well as investment and cooperation orientations
in the field between the two countries.
The two sides reached a
consensus that foreign investment attraction in the field
should go together with technology transference which is an
important factor to boost the pharmaceutical chemistry in
the Southeast Asian nation.
Charlene Barshefsky held
post as US Trade Representative in Vietnam from 1997-2001.
She has also contributed to the signing of the Vietnam-US
Bilateral Trade Agreement.
Go top
(Source:
Vietnam News Agency - Vietnam Plus)
Largest regional
solid waste treatment plant goes into operation
The Vietstar Lemma Eco
Centre, the largest and most modern solid waste treatment
facility in Southeast Asia, will be put into operation in Ho
Chi Minh City on Dec. 18.
According to Vietstar Joint
Stock Company’s announcement on Dec. 8, the plant, at a cost
53 million USD, will handle 1,200 tonnes of solid waste per
day.
Located in Cu Chi district,
the plant will provide 600 jobs for local residents,
bringing benefits in not only the environment but also the
city’s economy, Vietstar Chair of the Board of Management
and Acting General Director Poldi Gerard said.
Vietstar is an affiliate of
the US Lemma International company, which invested 10
million USD in the plant.
Go top
(Source:
Vietnam News Agency - Vietnam Plus)
Japan pledges
record aid of 1.6 billion USD
The Japanese Ambassador to
Vietnam Mitsuo Sakaba announced on December 3 a new record
high of Japanese aid commitment to Vietnam for the 2009
fiscal year (from April 2009 to March 2010) of 1.6 billion
USD.
The announcement came as
representatives of international donors, foreign missions
and government officials gathered for Vietnam ’s
Consultative Group Meeting – the biannual talks where
official development assistance (ODA) is announced.
The Japanese aid will be
used to support national infrastructure projects in Vietnam
, including the expansion of Noi Bai international airport,
the Noi Bai-Nhat Tan Highway and the Hoa Lac High-tech Park
, revealed the Japanese Ambassador.
This is a record commitment
for the Japanese government. At the 2007 donors meeting,
Japan pledged 1.1 billion USD in aid for Vietnam but refused
to provide any commitments to ODA at the 2008 meeting
following a corruption case where the Japanese company
Pacific Consultant International (PCI) was accused of
bribing senior Vietnamese officials to win bids for
contracts.
Ambassador Sakaba said that
Japan has decided to “resume as normal” the procedures for
providing aid to Vietnam because after the PCI case, both
countries signed an agreement on a “detailed system of
checking bidding procedures” this February.
“So far we are satisfied
with this new transparent system for allocating Japanese ODA,”
Sakaba told the press.
Meanwhile, the Head of the
European Commission delegation to Vietnam, Ambassador Sean
Doyle said that in terms of implementing projects, “some of
the problems remain, but Vietnam has worked very well on its
economy.”
“The aid is proceeding very
well and we are very happy with the way the Vietnamese
government is using it,” he told the Vietnam News Agency.
The EC official also revealed that in general, donors are
very supportive of Vietnam because they “admire” what has
been done and “respect” the government’s ambition to move
forward after “coming out of the recession in very good
shape.”
“And when I say that, I
think it is true of all the donors assembled here today,” he
confirmed.
The greatest concern for the
European Union now, he said, is to help Vietnam develop
faster, especially increasing the added value of its exports
and its domestic consumption. Moreover, the EU will continue
to help Vietnam access European markets and transfer more
European technology to Vietnam , especially in areas
concerning climate change.
The Country Director of the
Asian Development Bank (ADB) in Vietnam , Ayumi Konishi,
later told the meeting that the bank has approved assistance
of over 2 billion USD this year. The money will be used to
develop renewable and clean energies and fund a scheme to
help local private enterprises.
At the 2008 meeting, donors
committed a total 5.014 billion USD in ODA to Vietnam , of
which the ADB pledged 1.56 billion USD and the EU
contributed over 893 million USD.
Go top
(Source:
Vietnam News Agency - Vietnam Plus)
ODA forecast to
pass 5 billion USD
The Ministry of Planning and Investment (MPI) has forecast
that the country can reach its ODA commitments of 5.056
billion USD this year, after intensifying its efforts to
attract ODA over the last ten months.
According to the MPI, over 3.85 billion USD of ODA has been
pledged in the past ten months, representing a rise of 9.85
percent over the same period last year. This sum included
3.7 billion USD in loans and the remainder in non-refundable
aid.
The World Bank (WB), the Asia Development Bank (ADB) and
Japan remain the major providers of ODA to Vietnam for
projects and programmes involving transport, water supply,
urban development, energy, rural development and poverty
reduction, said the ministry.
It estimates that ODA worth over 1.2 billion USD will be
agreed upon in the last two months of the year.
This amount will cover the building of Thai Binh power plant
worth 111 million USD, a sixth credit programme worth 96
million USD, a programme to develop human resources in the
health sector valued at 60 million USD and the Vinh Thinh
bridge project worth 100 million USD.
Based on the fact that 1.86 billion USD of ODA was disbursed
in the past ten months, or 98 percent of the yearly plan,
the MPI calculates that the disbursement of ODA will reach 3
billion USD for the whole year.
International financial analysts have a high estimation of
Vietnam ’s response to this years economic crisis which has
enabled the national economy to recover rapidly and may soon
build up enough momentum to grow, said the MPI.
It raised the issue that in 2010, European donors will
revise their ODA policies on Vietnam and gradually reduce
the amount of non-refundable aid and focus more on providing
technical assistance.
However, the ODA regulator is of the opinion that the
country would not face a drop in ODA in 2010 due to the
appearance of new channels of credit, but of course with
less preferential treatment than before.
As a result, the MPI estimates that in 2010 the country will
receive ODA commitments of 5.07 billion USD with the biggest
providers remaining the WB, ADB and Japan, who all can
pledge up to 70-80 percent of the value of the committed ODA.
Large projects that use ODA loans in 2010 will include a 710
million USD project to build an international terminal (T2)
at Noi Bai airport, the 1.3 billion USD Da Nang-Quang Ngai
expressway, a 615 million USD infrastructure project for
Lang-Hoa Lac Hi-tech Park and the construction of a 150
million USD road linking Hanoi’s outlying Nhat Tan bridge to
Noi Bai airport.
According to the MPI, if the ODA estimates become a reality,
the ODA that the nation will attract for the 2006-2010
period will hit 20 billion USD, surpassing the target of
12.3-15.7 billion USD put forward in the ministry’s plans to
attract and use ODA.
Go top
(Source:
Vietnam News Agency - Vietnam Plus)
Ho Chi Minh City
leads in FDI attraction
Ho Chi Minh City leads the country in foreign direct
investment (FDI) attraction with more than 27.29 billion USD
poured into 3,469 projects so far this year.
Against 2008, the number of FDI projects increased by 370
and the total capital rose by 1.69 billion USD.
The top investors include the Republic of Korea, Singapore,
Malaysia, Japan, the UK, France and the US.
In November alone, the city licensed 318 FDI projects
capitalised at 813.3 million USD. Of that figure, the real
estate sector attracted the most capital, 512.6 million USD
injected into 15 projects, while the trade sector absorbed
117 million USD into 77 projects and the industry sector
109.5 million USD into 34 projects. The information
technology industry drew only 11.1 million USD into 71
projects.
Also in November, 106 projects increased their investment
capital with a total of 328.4 million USD added.
The FDI sector posted 7.54 billion USD in import-export
turnover in the past 11 months of this year, of which
exports reached 4.215 billion USD, down 8 percent
year-on-year, and imports, 3.327 billion USD, down 18.1
percent.
The sector’s November industrial production value reached
17.35 trillion VND, bringing the total value for the past 11
months to 159.95 trillion VND, up 8.9 percent over the same
period last year.
Go top
(Source:
Vietnam News Agency - VNA)
Vietnam enters top ten software
outsourcing destinations
Vietnam ranks ninth among 10
attractive nations for outsourcing in the world, according
to a recent survey conducted by Tholons/Global Services
Group.
According to Tuoi Tre
(Youth) newspaper, Ho Chi Minh City continues to be selected
by Tholons/ Global Services as one of the world’s six
leading cities in application development & management (ADM)
and game and cartoon development.
This is also the second
consecutive year HCM City has entered the top 50 Emerging
Outsourcing Cities. In 2006, the city was named in the list
thanks to low labour costs and high standards in the IT
sector.
Tholons/Global Services
rankings are based on six criteria, including the proportion
and quality of human resources, labour costs, trade
promotion activities, infrastructure, risk levels and living
standards.
According to the Vietnam
Software Association (VINASA), the local software industry
has been developing with an annual growth rate of 30-40
percent. The country is home to more than 720 outsourcing
companies and nearly 9,000 IT engineers who have been
trained at universities and colleges.
Go top
(Source:
Vietnam News Agency - VNA)
Vietnam to explore
for oil in Cambodia
The PetroVietnam Exploration
and Production Corporation (PVEP) and Cambodia's National
Petroleum Authority (CNPA) signed a contract on Nov. 12 to
drill for oil in block XV, northeast of Tonle Sap Lake, on
Cambodia’s mainland.
Under the contract, signed
by PVEP’s President and CEO Nguyen Vu Truong Son and the
Cambodian Deputy Prime Minister cum CNPA Chairman Sok An,
the Vietnamese partner will hold a 100 percent interest.
The project will be managed
and operated by PVEP-Mekong, a subsidiary of PVEP who is
currently operating oil fields in Laos and Myanmar.
The duration of the contract
is 30 years for oil and 35 years for gas and exploration is
expected to take seven years.
According to Nguyen Vu
Truong Son, the contract plays an important role in
developing the comprehensive relationship between Vietnam
and Cambodia, and is also a breakthrough for the two
countries in working together in the oil and gas industry.
The contract is PVEP’s 55 th
project and the 17 th project it operates by itself.
Go top
(Source:
Vietnam News Agency - VNA)
Fund pours 223
million USD into real estate
The
Singaporean-headquartered CapitaLand has deployed 299
million Singaporean dollars (223 million USD) to further its
growth in the real estate sector in Vietnam.
In a press release last week, the company says Vietnam is
the group’s potential fourth pillar of growth in addition to
its core markets of China , Singapore and Australia .
“ Vietnam is a key Asian
market for CapitaLand Group. The country’s strong economic
growth and rapid urbanisation have presented many
opportunities for international real estate companies like
CapitaLand,” says the press release.
Currently, CapitaLand
Group’s presence in Vietnam is in HCM City, Hanoi and Hai
Phong, in the residential and serviced residences sectors.
Following the successful
launch of The Vista in HCM City, CapitaLand has invested in
a new residential development project in Hanoi named
Mulberry Lane.
In October, CapitaLand started pre-sales activities for one
of the five towers at Mulberry Lane . All 330 units released
were fully booked in two days. The units were sold at prices
between 1,350 USD and 1,700 USD per sq.m.
CapitaLand is one of Asia ’s
largest real estate companies. Its subsidiaries and
associates include Australand, CapitaMall Trust,
CapitaCommercial Trust, Ascott Residence Trust and
CapitaRetail China Trust.
Go top
(Source:
Vietnam News Agency - VNA)
Russia set to
prepare for agreements with Vietnam
A delegation of business
representatives from Russia will visit Vietnam from Nov. 8-9
to prepare for cooperation agreements in finance, energy,
machinery manufacture and military technique.
Andrey Kostin, President of
Board of Directors of the Vneshtorbank of Russia announced
this on Oct. 29 during a working session with Prime Minister
Vladimir Putin the same day.
Kostin further said that the
delegation will prepare proposals and tentative practical
cooperation agreements, which are expected to be signed
during Vietnamese Prime Minister Nguyen Tan Dung’s up-coming
official visit to Russia.
Earlier, PM Putin spoke on
the phone with PM Dung and invited the latter to pay an
official visit to Russia.
The two sides discussed
several issues, including prospects for the development of
bilateral economic and trade relations. They were pleased at
the growth of trade turnover between the two countries of
5.7 percent despite the global financial crisis.
Go top
(Source:
Vietnam News Agency - VNA)
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