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Water project to help Vietnam’s power, steel industries

A $142 million water project in Vung Ang Economic Zone is expected to supply industrial water for the Vung Ang I thermal power plant this month and ease water shortages for the rest of the economic zone. Dang Van Thanh, deputy director of Vung Ang Economic Zone (VAEZ) Management Authority, said that this water project was racing toward on a trial run on November 15, 2012. “Our water project with the designed capital of one million cubic metres of water per day would ensure stable water supplies for VAEZ as well as push key projects ahead,” Tran Dinh Dung, consultant for...

HP.ITA Corporation Engages Auditors to Perform Financial Audits to Go Public in the U.S. Stock Market

HP.ITA Corporation. a Nevada corporation founded in 2004, announced today that the Company has engaged PLS CPA, an independent San Diego-based PCAOB-registered auditing firm, to perform the audit of the Company's financial statements. HP.ITA Corporation (fka Provimex, Inc.), a Nevada corporation founded in 2004, announced today that the Company has engaged PLS CPA, an independent […]

Vietnam Business Briefs October 11, 2012

* Ben Thanh Trading & Service Company (BTT) has announced October 19 as the ex-dividend date to issue 1.8 million bonus shares for shareholders at the 44:9 ratio. * Bao Viet Securities Investment Fund has sold over 1.1 million shares of Truong Thanh Furniture Corporation (TTF) to reduce its ownership from 11.6 percent to 8.7 […]

Vietnam Cooking Gas Sees 1st Prices Increase In Oct

The retail price of cooking gas has been given the green light to rise for the first time in October by state agency. The new prices will range from VND434,000-449,000 for a 12-kilogram gas cylinder, up 3-4 percent month on month. The approval for price hike was given five days after all five liquefied petroleum gas (LPG) wholesalers registered with the Price Management Department under the Ministry of Finance. According to the ministry, as of October 2, all the five LPG wholesalers had submitted the registration dossier for price adjustment to the department. They were the LPG trading arm of Vietnam Gas...

Vietnam Business Briefs September 25, 2012

* The State Treasury sold VND250 billion worth of two-year government bonds and VND500 billion worth of three-year government bonds last Friday with the winning coupons of 9.45 percent and 9.7 percent per annum respectively. * 3-2 Construction Investment Joint Stock Company (C32) will begin trading 11.2 million shares on the Hochiminh Stock Exchange on […]

Vietnam Business Briefs Sept 22, 2012

Dong Nai receives $1bn FDI The southern province of Đong Nai has attracted more than US$1 billion from foreign direct investment (FDI) despite the economic downturn, said Bo Ngoc Thu, director of the province’s planning and investment department. The figures places the southern province third nationally in attracting FDI after Binh Dương Province, also in the South, and the northern city of Hai Phong. In the past eight months, Đong Nai has granted investment licenses to 34 enterprises with registered capital of about $600 million. Among the new projects, two are in high-tech – Belmont Manufacturing specializing in health...

Vietnam Business Briefs Sep 20, 2012

* Thien Nam Trading Import Export Joint Stock Company (TNA) announced to have earned VND34.4 billion pre-tax profit on revenue of VND827.73 billion in 8M/2012, meeting 69 percent and 82.7 percent of its full-year targets, respectively. In August alone, the company earned VND4.3 billion pre-tax profit on VND114.78 billion net revenue. * The People’s Committee of Kon Tum decided to fine Hoang Anh Gia Lai Corporation (HAG) VND55 million for its violation of environment regulations during the exploitation and processing of iron ores at Mo Rai, Sa Thay. The firm is also banned from dumping sewage water into Sa...

More Effective Investment Policies Urged in Vietnam

Policies should be revised to boost the quality and effectiveness of foreign investment, said Do Nhat Hoang, head of the Ministry of Planning and Investment's Foreign Investment Agency (FIA). Investment incentives in the past have attempted to draw investors to high-tech industries or infrastructure but failed co-ordinate with planning for those sectors, Hoang said. Under a draft assessment of FDI, with orientations to 2020, the Ministry of Planning and Investment has proposed to adjust incentives to bring investment to sectors targeted in development plans, he said, noting that incentives could also be targeted to environment-friendly projects and projects...

VIC, MSN, STB, DPM, VCB, CTG, BVH Appears in Newly Launched iShares

The iShares MSCI Frontier 100 Index Fund is set for launch on Thursday, according to NYSE’s Arca exchange. The exchange-traded fund will change hands under the ticker FM. The iShares MSCI Frontier 100 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Frontier Markets 100 Index, iShare said. 7 Vietnamese stocks included in the index: VIC, MSN, STB, DPM, VCB, CTG, BVH , accounting for 2.56% of the fund value. Company Ticker Price (VND) Weigh Vincom JSC. VIC 72,000 0.79 Masan Group Corporation MSN 102,000 0.45 Saigon Thuong Tin Commercial Joint Stock Bank...

Vietnam Business Briefs September 12, 2012

* Son Ha International Corporation (SHI) has announced September 21 as the ex-dividend date to pay 2011 dividend in cash for shareholders at 5%. * Cu Chi Commercial and Industrial Developing Investment Company-f CCl) will trade 4.3 million more shares on the southern bourse on September 19. * Bac Kan Mineral Corporation (BKC) has registered […]