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Vietnam Business Briefs November 07, 2012

* Saigon Shipping Joint Stock Company (SGS) announces that its Saigon Queen ship, with a crew of 22 on board, sank off Sri Lanka October 30. The firm said that eighteen crewmembers have been rescued while the four others, including the captain, remain missing, adding that the current value of the ship reached VND73.5 billion. * FLC Group JSC (FLC) will transfer its all 5 million shares in FLC Securities JSC to individuals who want to buy until November 11 at the price not lower than VND4,600/share, the firm said in its resolution of Board of...

Vietnam Animal Husbandry Cannot Attract FDI

VietNamNet Bridge – Vietnam has been trying to call for foreign direct investment (FDI) into the animal husbandry industry, which remains unattractive in the eyes of foreign investors. While foreign investors have poured big capital into the animal feed industry, they keep indifferent to the livestock sector. However, the situation would change in the future, since Vietnam has been trying to call for FDI into the sector. Hoang Kim Giao, Director of the Animal Husbandry Department under the Ministry of Agriculture and Rural Development (MARD), said the domestic animal husbandry has been...

Vietnam Property Market Freezing, Developers Shoot The Moon

VietNamnet Bridge – Not only small real estate developers, but the big guys have also got involved in troubles, when they cannot implement their projects and pay buyers money back. The big guys summoned to appear in court The Hanoi Police has recently searched the head office of the Hong Ha Building Material Import – Export Company to clarify the denouncement of “betraying trust, appropriating others’ assets.” Though the company’s project on developing a residential quarter for the ancient streets’ dwellers to move to and settle down was not approved by the competent agencies, the company still put its...

Vietnam’s Dr Dolittle strikes it rich with reptiles

In just four short years, animal exporter Huynh Chi Cong has gone from odd-job man to one of Vietnam's most respected businessmen. The snake-charming salesman told Thai Phuong the secrets of his success. When he started four years ago, Huynh Chi Cong was a struggling businessman raising rabbits on a small farm. But with research, hard work and a fondness for animals, Vietnam's Dr Dolittle has grown his empire into a company specializing in breeding snakes, iguanas and tortoises for export. Before founding the Phuoc Thinh Breeding Products...

Vietnam Settling Intellectual Property Rights Infringements: Perplexed from Regulation to Settlement

Trung Nguyen Coffee was registered in 2000 by Rice Field Company for protection in the United States. Then, the website Trungnguyen.com.au became an official website for promoting and transacting Highlands Coffee and the Legendeecoffee domain was taken by another company in Australia. Loss of brand names is not unusual for Vietnamese businesses. Not only big companies but also less famous companies have their brand names stolen by using similar naming. Deliberate commitment for dirty money Normally, deliberate company naming and product branding identical or similar to the name or brand of other company are mostly aimed at self-seeking...

Many Foreign Investment Projects in Vietnam Waste on Land

After boisterously introducing blockbuster projects typified by giant size and premium quality, some financially weak investors are divulging their intentions to keep granted land to sell in the future to take the margin. Many Vietnamese companies have learned painful lesson from their preference and trust in foreign corporations. According to a report submitted by the […]

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 August 31, 2012

* SSI Member Fund will buy one million shares of Hung Vuong Corporation (HVG) within one month starting from September 5. * VIAC (No. I) Limited Partnership has bought over two million shares of Vinh Son-Song Hinh Hydropower Company (VSH) to spur its ownership from 8.5 percent to 9.5 percent. * The State Treasury sold 1.1 trillion dong worth of two-year government bonds, nearly 1.6 trillion dong worth of three-year bonds and 50 billion dong worth of five-year bonds via an auction yesterday. The winning coupons were 9.3 percent, 9.4 percent and 9.6 percent per annum respectively. * Hai Minh Corporation (HMH) has announced August...

Vietnam Business Briefs August 29, 2012

* Saigon Fishing Net Company (SFl’;J) has announced September 11 as the date of registration for shareholders to receive 2011 third round dividend and 2012 first round dividend both in cash at 2 percent and 7 percent respectively. * Northern Textile and Garment Company (TET) has announced September 5 as the ex-dividend date for shareholders to receive 2012 second round dividend in cash at 8 percent. * Danang Housing Investment and Development Company (NDN) has gained approval to trade an additional 1.5 million shares on the northern bourse. * Thu Duc Trading and Import-Export Company (TMC) obtained VND1.2 trillion in revenues and VND15.2 billion in pre...

How did Nguyen Duc Kien get rich with fake projects?

Issuing corporate bonds and false business plans for real money from banks were the main illegal trading tactics of arrested banking mogul Nguyen Duc Kien, said a central police agency under the Ministry of Public Security. >> ACB appoints new general director: press conference >> The ups and downs of football boss Nguyen Duc Kien >> Gold […]