HCMC-based company signs Japan partner deal

The Japan Pile Corp has entered a strategic partnership with local firm Phan Vu Investment Corp, concluding its contract in Ho Chi Minh City.

The deal value, however, was not disclosed.

Under the contract, the Japanese company, which is listed on the Tokyo Stock Exchange, will become a shareholder in Phan Vu (PVI) with a 5-percent stake. It will be the first foreign institutional investor of PVI.

According to PVI's deputy general director Vo Thi Hien, her company has a charter capital of VND150 billion (US$75.5 million).

Last year it earned a net profit of almost VND60 billion from a turnover of VND690 billion.

As PVI's operations also include the pile foundation business, the Japanese partner will cooperate to create new pile products for the Vietnam market, including those with an anti-earthquake feature.

It will also assist in the management of the holding company model.

In the fourth quarter, Japan Pile Corp will organize training courses for PVI staff in Vietnam and receive trainees in Japan as well.

The Phan Vu Investment Corp is expected to list in the HCM Stock Exchange in the fourth quarter this year.

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Developers eye second-home market

Central Da Nang City, where a large number of high-end villas, houses and apartments will be put up for sale during the next few years aimed at buyers in the second-home market. — VNA/VNS Photo Huy Hung

HCM CITY — The Hoa Anh Dao Tourist Joint-Stock Company has begun construction on its Oceanami Resort&Luxury Home Project which contains 180 villas designated for the second-home market as well as a five-star hotel and other facilities.

Marc Townsend, managing director for real estate services firm CBRE, said a large number of high-end villas, houses and apartments would enter the second-home market over the next several years.

He said the supply pipeline of around 11,000 villas and 10,000 condos in the third quarter would represent a five and threefold increase, respectively, compared with current figures.

A majority of the properties are on the country's central coast.

The second-home market is still in its infancy, he said, adding that it had just resumed in the past few years but had drawn the growing attention of local and international investors.

He noted that the second-home market had grown more active in recent years because of interest shown by international resort operators and the higher rate of construction activity.

Several second-home projects have been up and running, including the Nam Hai in Hoi An that was launched four years ago. Nearly all of its 40 villas priced from $1.5 million have been sold.

Buyers of the villas were initially foreigners and fund companies, but now the majority are local residents.

"While the majority of buyers for this type of property tend to be local people from Ha Noi, representing 40 per cent of overall buyers, locals from HCM City are now catching up with them with their share of market transactions now standing at 30 per cent," he said.

The second-home is typically located in a beachfront resort or in the mountains in a managed community, and can be leased for additional income, or used for future retirement of the owners. — VNS

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VN firms may qualify for S Korea exchange listing

HA NOI — About 22 Vietnamese companies currently listed on domestic stock markets could qualify to list shares on Korean stock exchanges, according to an assessment by South Korean-invested Woori CBV Securities Co published at a conference here on Wednesday about raising capital on Korean markets.

Vietcombank, Vinamilk, real estate developer Hoa Phat Group, software giant FPT and the PetroVietnam Technical Services Co were among those that could list in South Korea, the assessment found. Vietnamese firms could benefit greatly by listing on the Korean market, said Lee Daegyu, the assistant director of listing promotions for the Korean Stock Exchange.

Besides raising capital through initial public offers, the companies could access investment opportunities in South Korea and more effectively market themselves to Korean investors, Lee said.

The Korean Exchange was working to attract more foreign companies to list, Lee added. In 2007-10, 15 foreign firms listing shares on the exchange, with 13 coming from China, one from Japan and one from the US.

The Korean Exchange has two separate markets, the Kospi and Kosdaq stock exchanges.

A foreign firm wishing to list on Kospi needs a total market capitalisation no less than US$16.6 million, while a listing on Kosdaq requires a firm to have capitalisation in excess of $7.5 million.

Since early 2009, the success of Government bond issues overseas has open more doors to local companies to raise capital on overseas markets. HCM City-listed property trader Vincom, for instance, has offered $80 million in convertible bonds overseas.

Convertible bonds could become the most favourable channel for Vietnamese companies to raise capital overseas, affirmed the director of Woori's HCM City branch, Lim Song Hak.

But the head of market development for Viet Nam's State Securities Commission, Nguyen Son, warned that regulations on securities offerings, listings and disclosure on overseas markets still remained difficult for Vietnamese firms.

The commission was drafting an instruction to support local firms seeking to list overseas, Son said.

Textile firm Mirae Joint Stock Co, currently listed in HCM City, is the only firm now actively seeking to comply with listing procedures for the Korea Exchange.

Mirae received permission from the Vietnamese Government in May 2009 to pursue the overseas listing. — VNS

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Trade promo push in Mexico, Canada

Ha Noi — The Ministry of Industry and Trade will speed up trade promotion activities in Mexico and Canada in the fourh quarter.

The ministry has issued instruction No8/CT-BCT about pushing exports and enlarging markets to meet the country's annual export target of US$60 billion.

Sectors involved are mainly garments and textiles, footwear, seafood, wood products, arts and handicrafts and processed food.

Promotion activities were scheduled to take place mainly in Toronto and Mexico City.

The North American Free Trade Area, with a population of 520 million, is considered as a key export market of Viet Nam. Canada and Mexico are big markets for Vietnamese goods behind the US, which accounts for 82.5 per cent of Viet Nam's export turnover to the area.

Vietnamese Ambassador to Mexico Pham Van Que said two-way trade between Mexico and Viet Nam surged from $60 million in 2001 to nearly $720 million last year, $600 million of which were exports to Mexico.

The main exports were garments, footwear, seafood, printing-machines, sports equipment and wooden products.

Que expected that following the first session of the Mexico-Viet Nam Joint Business Committee in Mexico recently, trade between the two countries would increase significantly.

He said the session was the start of a partnership for sustainable development between the two countries.

Last year's trade turnover between Viet Nam and Canada reached $1.3 billion, $1 billion of which were Viet Nam's exports to Canada.

The ministry predicted that the country's export volume to Mexico and Canada would rise dramatically in the next three months, especially of vegetables and fruits.

Viet Nam shipped fruit worth $2.8 million to Mexico and Canada in July this year alone, up 21.7 per cent on the same period last year. — VNS

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Vietnamese company expands business in Laos

Hanoi Liquor Joint Stock Co (HALICO) has opened its representative office in the Lao capital city of Vientiane.

Lao Minister of Industry and Trade Nam Viyaketh, Deputy Minister of Planning and Investment Thongmy Phomvisay, senior officials and Vietnamese Ambassador Ta Minh Chau along with 200 guests were present at the opening ceremony.

Addressing the event, HALICO Director Ho Van Hai underlined the company’s prestigious trade mark which has developed both at home and abroad over the past 100 years.

He said the company desires to introduce high-quality products to Lao customers and build a factory in the country in order to boost two-way trade between the two nations, generate more jobs for local people and contribute to the two countries’ state budgets.

Lao Minister Nam Viyaketh hailed the establishment of the office and pledged to create favorable conditions for the company to effectively run business and invest in his country.

He extended his wish that HALICO would soon open a factory in Laos to provide good-quality products for the country and other laboring markets, contributing to bolstering bilateral comprehensive cooperation.

On behalf of the Lao government, Deputy Minister of Planning and Investment Thongmy Phomvisay granted investment license to the company’s director.

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Vietnamese company expands business in Laos

Hanoi Liquor Joint Stock Co (HALICO) has opened its representative office in the Lao capital city of Vientiane.

Lao Minister of Industry and Trade Nam Viyaketh, Deputy Minister of Planning and Investment Thongmy Phomvisay, senior officials and Vietnamese Ambassador Ta Minh Chau along with 200 guests were present at the opening ceremony.

Addressing the event, HALICO Director Ho Van Hai underlined the company’s prestigious trade mark which has developed both at home and abroad over the past 100 years.

He said the company desires to introduce high-quality products to Lao customers and build a factory in the country in order to boost two-way trade between the two nations, generate more jobs for local people and contribute to the two countries’ state budgets.

Lao Minister Nam Viyaketh hailed the establishment of the office and pledged to create favorable conditions for the company to effectively run business and invest in his country.

He extended his wish that HALICO would soon open a factory in Laos to provide good-quality products for the country and other laboring markets, contributing to bolstering bilateral comprehensive cooperation.

On behalf of the Lao government, Deputy Minister of Planning and Investment Thongmy Phomvisay granted investment license to the company’s director.

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Expo promotes regional tourism

Photo: Ministry of Culture, Sports and Tourism of Vietnam

A three-day annual International Travel Expo aimed at boosting 3CODE (Three Countries One Destination) tourism program covering Vietnam, Laos and Cambodia has wrapped up in Ho Chi Minh City.

Held at the Saigon Exhibition and Convention Center in District 7, the event attracted 155 "buyers" from 35 countries and 173 sellers (enterprises and departments offering products and services).

Besides buyers from traditional markets, organizers aimed to explore new markets in North Europe, Spain, Italy and the US.

"This year's expo welcomes Myanmar, preparing to form the new 4CODE," said La Quoc Khanh, deputy director of the HCMC Department of Culture, Sports and Tourism.

"We hope to see all the six countries of the Greater Mekong Sub-region in the coming expo, to join hands and make the region more interesting in the eyes of international tourists," Khanh said.

Vietnam's national flag carrier as well as the official carrier of the event, Vietnam Airlines, offered up to 85 percent discounts on selected international routes.

The carrier also introduced its "Welcome Christmas in Europe" tour packages at attractive prices.

Thailand organized a conference introducing its Amazing Thailand campaign. The Tourism Authority of Thailand (TAT) targets 14 million arrivals by the end of this year, and 15.5 million international tourist arrivals next year.

TAT and the Vietnam National Administration of Tourism have also held a working section.

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