More than 250 booths of both domestic and foreign enterprises will open in the International Trade and Investment Promotion Fair, expected to kick off in August 18.
HA GIANG —
The nine-day fair is a product of the co-operation between border gate commerce and trade development in Viet Nam and mainland China in general, and northern mountainous Ha Giang and Yunnan provinces in particular. The event is an opportunity for businesses to expand their markets, and increase co-operation. The fair would help Vietnamese businesses improve competitive capacity and integration.
VTB to export products to Cuba
HA NOI — The Viettronics Tan Binh JSC (VTB) is scheduled to begin exporting refrigerators and freezers to Cuba this August under a VND10 billion (US$476,190) contract signed recently.
The VTB will export a batch containing 160-litre refrigerators and 180-300 litre freezers to Cuba by the end of this month.
The company has a plan to build a refrigerator engineering manufacturing factory with an estimated investment of US$67.5 million in Cuba.
Vinh Long fosters industrial zones
Vinh Long — The southern province of Vinh Long has continued finishing infrastructures in Hoa Phu and Co Chien industrial zones while starting construction of three new industrial zones Binh Tan, Dong Binh and An Dinh.
In addition, the province has called on investment for the development of six industrial zone complexes.
The province has made efforts to improve infrastructure, exploit natural resources, attract investments, foster commercial services, boost key industries and develop trade villages.
Thai firm to produce oil in Q3
HA NOI — The Thailand-based PTT Exploration and Production Plc announced that it expected to produce oil in Viet Nam during the third quarter of this year.
Anon Sirisaengtaksin, PTTEP President and CEO, said the firm would start producing oil as the Viet Nam 16-1 Project completed its installation of the wellhead platform and infield pipelines.
Additionally, construction of an offshore floating production storage and offloading (FPSO) unit had been finished.
Government bond auction underwhelms
HA NOI — A VND2 trillion (US$97 million) issue of Government bonds was auctioned last Thursday, but only 22.5 per cent were sold. Of VND1 trillion ($48.5 million) worth of three-year bonds, VND150 billion ($7.3 million) were sold at yield of 12.4 per cent, VND300 billion ($14.6 million) worth of five-year bonds were sold at 12.5 per cent.
Mining companies' profits plunge in H1
HA NOI — A number of mining companies have seen profits plunge in the first half of the year. Tay Bac Minerals Investment Co (KTB) posted a net profit of VND5.6 billion (US$271,800) for the period, a decline of 97 per cent from the previous year. Cavico Viet Nam (MCV)'s first-half profit of VND2.9 billion ($140,800) represented an 18-per-cent decline. However, Binh Duong Mineral & Construction Co (KSB) saw its profits increase by 10 per cent during the period to VND67 billion ($3.3 million).
Rubber companies see high profits
HA NOI — Three rubber companies have posted higher first-half profits. Dong Phu (DPR) posted a profit of VND276.7 billion (US$13.4 million), a 183.2 per cent increase over the same period last year, while Thong Nhat Rubber Co (TNC) saw a profit of VND54.1 billion ($2.6 million), a 179 per cent increase. Tay Ninh Rubber Co (TRC) posted a profit of VND168.3 billion ($8.2 million), a rise of 120.7 per cent.
New firms to list shares
HA NOI — VNS Securities Co will list shares on the Ha Noi Stock Exchange under the code IVS. VNS Securities posted a profit in the first quarter of the year of VND513.8 million (US$24,900).
Meanwhile, Ben Thanh Land has registered to list shares on the HCM City Stock Exchange. Ben Thanh Land has a charter capital of VND136.35 billion ($6.6 million) and saw earnings last year totalling VND144.6 billion ($7 million). — VNS