BUSINESS IN BRIEF 9/4

17:08' 09/04/2008 (GMT+7)
US group plans five billion USD resort in Danang
The US-based Oak Tree Group has revealed a plan to build a five billion USD resort in Lien Chieu district, central Danang city.
The group presented the project, the biggest of its kind in Vietnam so far, to leaders of the municipal People’s Committee on April 7.

The 500 ha Sunrise resort will house a golf course, a therapeutic centre, villas, high-end hotels, a marina, a telpher route, a heliport and a casino.

Once fully operational, the project will generate jobs for more than 10,000 local workers, according to the group’s leaders.

Modern injectable drug plant begins operation

The Pymepharco Joint Stock Company has opened an 11.5 million USD (184 billion VND) plant producing injectable drugs in the central province of Phu Yen .

The plant with technologies from India , Germany and Spain will adhere to the quality system of GMP-WHO (Good Manufacturing Practise of the World Health Organisation).

Pymepharco is cooperating with Stada Vietnam to produce the antibiotic of third generation Cefdinir.

In 2003, Pymepharco built a plant producing 160 medicinal products.

Gerber Technology inaugurates first showroom in HCM City

The US-based Gerber Technology, a world-leading supplier of automated CAD/CAM/PLM solutions for industries opened its Advanced Technology Centre (ATC) in Ho Chi Minh City on April 8.

The 750-square-metre facility was developed to provide product demonstration and training and to showcase the company’s systems. The centre also offers product testing and training for customers, engineers, designers and industry students nationwide.

It is the first centre of its kind in Southeast Asia , and will serve the needs of such industries as apparel, aerospace, composites, furniture, automotive, aerospace, marine and industrial fabrics in neighbouring countries.

Da Nang exports earn 206.4 million USD in first quarter

The central city of Da Nang earned 206.4 million USD in export turnover in the first quarter of this year.

The city’s Department of Industry and Trade has targeted a yearly export of 905 million USD by focusing on high-turnover industries such as garments, footwear, seafood, processed food and wood products, as well as services that generate foreign currency such as tourism, banking and finance, and telecommunications.

Trademarks chosen for State promotion

Thirty brand names have been selected to participate in the National Brand Name Programme, announced Trade Promotion Agency director general Do Thang Hai at a press conference on April 8 in Hanoi .

Brands hail from finance, food and beverage, garment and electronic industries, among others.

Included in the programme are SJC, Agifish, Vietcombank, Viettien, VNPT, Vinaconex, Biti’s Kinh Do, Cadivi, Phong Phu, Nha Be, Vinacafe and Saigon Tourist.

The programme is the only one of its kind, created by the Government to help establish a national image based on the value of innovations: creativity, quality and leadership. The programme seeks to further develop Vietnam ’s reputation for diverse and high-quality goods and services.

“The programme is not an award for having a famous brand name,” said Hai, explaining that selecting suitable brand names was just the beginning for business partnership.

Selected candidates possessed trusted brands, plans for sustainable and long-term brand development and adequate resources for development, he noted.

After joining the programme, candidates will receive assistance in building action plans to enhance competitiveness of their brands on domestic and international markets and finding distributors via exhibitions.

They will also receive consultation on building, developing and protecting their brand name.

Vinacafe sets Guinness record for large cup

For a cup containing 3,613 litres of coffee, Vinacafe has received the Guinness World Record (GWR)’s certificate as the world’s biggest cup of coffee.

Vinacafe has broken the old record set by a Panama coffee company by over 204 litres.

The world’s biggest cup of coffee began its trans-national trip from Ho Chi Minh City on March 30 and arrived in Hanoi on April 8 to receive the certificate from the GWR representative, Lucia Sinegagliesi, en route to Phu Tho province, the holy land dedicated to Vietnamese ancestors Kings Hung.

The cup is scheduled to show up at the opening ceremony on April 9 of the Kings Hung’s death anniversary, which falls on the 10 th of the lunar March every year.

Cacao industry aims sustainable development

A workshop aimed to work out measures to turn cacao to be one of Vietnam ’s key plants was held in the resort city of Da Lat , Central Highlands Lam Dong province on April 8.

The workshop, focusing on sustainable development for the cacao industry, discussed a plan to develop Vietnam ’s cacao industry and a World Wildlife Fund (WWF) project to encourage cacao plantation in Vietnam .

It also mentioned the development of cacao trees combined with bio-diversification protection.

Participants at the workshop, including representatives from cacao growing areas in Vietnam , non-governmental organisations and foreign cacao trading companies, were given introduction to a WWF pilot project on cacao sustainable development being implemented in Lam Dong.

French businesses urged to accelerate investment

Deputy Minister of Planning and Investment Cao Viet Sinh called on French businesses to continue investment in Vietnam .

The official made the appeal at the Vietnam-France Business Forum in Ho Chi Minh City on April 8, adding that it will help raise France ’s position among foreign investors in the Southeast Asian country.

Co-President of the High-level Council for Vietnam-France Economic Development and Honourable MP, Jacques Oudin said France can cooperate with Vietnam in high-technology, information technology, material technology, new energy, petrochemical, farm, forestry and fisheries processing, infrastructure development, transport, environment as well as tourism, medical, education and human resource training.

The forum held by the High-level Council for Vietnam-France Economic Development was attended by about 300 businesses from both countries. They discussed the cooperation of marine economy, farm produce safety and hygiene and finance for infrastructure construction.

According to the Ministry of Planning and Investment, France has 198 operating projects in Vietnam worth 2.38 billion USD in capital. This means it holds second ranking among EU member countries and 10th among 82 countries and territories with operations in Vietnam .

France is also Vietnam ’s third largest partner from the EU, with a trade turnover of 2 billion USD in 2007.

Ho Chi Minh City will host a French economic and commercial exhibition from April 9-11 as part of a France Week in Vietnam . The exhibition will draw 136 enterprises of various sectors from France.

Huge number of stock brought onto the market

Both the Ho Chi Minh City and Hanoi bourses saw sharp increases in their transaction volumes on the second day of the broadened trade band.

The Ho Chi Minh City Stock Exchange (HoSE) witnessed the trade of around 25 million shares compared to 2 million the day before.

The transaction value at the bourse also increased more than 10 times compared with the April 7 session, reaching 1.2 trillion VND.

The HoSE’s VN-Index closed the April 8 trading session at 548.56 points, up 6.23 points or 1.149 percent.

At the Hanoi Securities Trading Centre, more than 13 million shares were traded, up by more than 11 million from the previous day.

However, the HaSTC-Index dropped 0.78 points or 0.39 percent to stand at 197.55 points by the end of the session.