Tuesday, December 28, 2010

Thailand-VN ties grow significantly

THAILAND — Co-operation between Viet Nam and Thailand had significantly developed in the past years, particularly in trade and investment, said Nguyen Thanh Bien, deputy minister of Industry and Trade.

Bien was speaking at a conference on business and investment opportunities in Viet Nam held in Khon Kaen Province, Thailand, on Wednesday.

The stable political situation was a decisive factor in the growth of investment, as was the attractiveness of the country, Bien added.

He said Viet Nam was in the process of perfecting its legal system in accordance with international standards, while streamlining administrative procedures by as much as 30 per cent and improving the country's infrastructure to make it more attractive to foreign investors.

From 2007-09, bilateral trade grew annually by 10.6 per cent. Last year, despite the global economic downturn, two-way trade topped US$6.1 billion and is expected to hit $10 billion over the next few years.

In the first half of this year, Viet Nam's exports to Thailand rose 4 per cent, while its imports increased by 43 per cent.

As of August, Thai businesses had invested $34 million in 12 projects in Viet Nam, making it the 18th biggest investor in the country. — VNS

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Gold surges to all-time high

HCMC – Local gold on Wednesday shot up to a record high of over VND31 million per tael as the yellow metal rose to US$1,310 an ounce in the New York market a day earlier.

Gold made by SJC, the country’s leading gold trading house, closed up at VND31.16 million for buying and VND31.23 million for selling late on Wednesday afternoon, up VND650,000 from the previous day. The selling price briefly touched an all-time high of VND31.35 million a tael – a measurement unit which is equivalent to 37.5 grams.

Gold trade, however, was almost flat. Nguyen Thi Cuc, deputy general director of Phu Nhuan Jewelry Company (PNJ), said gold demand grew strong in the morning but declined in the afternoon.

PNJ sold 750 taels on Wednesday and bought around 400 taels, Cuc said, adding it seemed that individuals did not rush to sell the metal to take profits as 40% of the bought volume came from corporate clients.

The local gold rally is faster than elsewhere in the world, leading to a differential of VND400,000 per tael with tax and fee excluded or VND150,000 after all tax and fee deductions, she said.

Selling by individual gold owners has remained limited while traders are still banned from importing gold, causing a shrinkage of supply on the market, she said, explaining the rally. Moreover, given the continued volatility on global gold markets, local traders tend to hike prices to mitigate price risk.

Due to reduced supply, SJC traded a combined 1,500 taels on Wednesday, down from 4,500 taels a day earlier, said Nguyen Cong Tuong, deputy sales manager of SJC.

He noted a majority of sellers wanted to offset earlier losses and that there were no signs of people rushing to sell to rack up profits so the volume of gold bought from individuals accounted for around one-tenth of that from companies on Wednesday.

Meanwhile, the gold price quotation board at Sacombank Jewelry Company (SBJ) flashed continuously. This firm’s buying price was VND31.18 million and its selling price VND31.28 million.

An SBJ sales executive said the difference between selling and buying prices was big due to their strong volatility.

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Gold surges to all-time high

HCMC – Local gold on Wednesday shot up to a record high of over VND31 million per tael as the yellow metal rose to US$1,310 an ounce in the New York market a day earlier.

Gold made by SJC, the country’s leading gold trading house, closed up at VND31.16 million for buying and VND31.23 million for selling late on Wednesday afternoon, up VND650,000 from the previous day. The selling price briefly touched an all-time high of VND31.35 million a tael – a measurement unit which is equivalent to 37.5 grams.

Gold trade, however, was almost flat. Nguyen Thi Cuc, deputy general director of Phu Nhuan Jewelry Company (PNJ), said gold demand grew strong in the morning but declined in the afternoon.

PNJ sold 750 taels on Wednesday and bought around 400 taels, Cuc said, adding it seemed that individuals did not rush to sell the metal to take profits as 40% of the bought volume came from corporate clients.

The local gold rally is faster than elsewhere in the world, leading to a differential of VND400,000 per tael with tax and fee excluded or VND150,000 after all tax and fee deductions, she said.

Selling by individual gold owners has remained limited while traders are still banned from importing gold, causing a shrinkage of supply on the market, she said, explaining the rally. Moreover, given the continued volatility on global gold markets, local traders tend to hike prices to mitigate price risk.

Due to reduced supply, SJC traded a combined 1,500 taels on Wednesday, down from 4,500 taels a day earlier, said Nguyen Cong Tuong, deputy sales manager of SJC.

He noted a majority of sellers wanted to offset earlier losses and that there were no signs of people rushing to sell to rack up profits so the volume of gold bought from individuals accounted for around one-tenth of that from companies on Wednesday.

Meanwhile, the gold price quotation board at Sacombank Jewelry Company (SBJ) flashed continuously. This firm’s buying price was VND31.18 million and its selling price VND31.28 million.

An SBJ sales executive said the difference between selling and buying prices was big due to their strong volatility.

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Hilton manages second property in Vietnam

HCMC - Hilton International Manage LLC and its partner Bach Dang Hotel Complex Trading Service Co on Wednesday announced a deal on management of a hotel in the Bach Dang project in the central coast city of Danang.

The U.S.-based hotel management firm will run the five-star Hilton Danang Hotel, a second property in Vietnam’s hospitality market under Hilton’s management after the one in Hanoi.  

Than Ha Nhat Thong, board chairman of Bach Dang Hotel Complex Trading Service Co, told a news briefing in HCMC on Wednesday that the company had worked with various international hotel management firms over the past three years, and finally picked Hilton.

Thong said the company, a 70:30 venture between 508 Company Limited and Bach Dang Guest House under the Command of Military Zone 5, had invested some VND750 billion to develop the project on 7,000 square meters along Bach Dang Street in Hai Chau District in Danang.

The Bach Dang Complex Project has a 25-story hotel with 226 rooms, a 17-storey building with 15,600 square meters of office space and serviced apartment, and 10,500 square meters of retail podium.

Guy Phillips, vice president development of Hilton Worldwide for Asia Pacific region, told the Daily that Hilton was looking for a property in HCMC for management in the coming time to expand its presence in the country.

He said Hilton wanted to bring to the country other hotel brands among its ten to cater to different needs in the coming years.

Thong said the project was scheduled for completion by the last quarter of 2012.

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Air France unveils non-stop services to HCMC

Thierry Beragnes of Air France introduces the non-stop services between Paris and Vietnam at the press conference in HCMC on Wednesday - Photo: Mong Binh
HCMC - Air France on Wednesday announced it would operate non-stop services between Paris and HCMC and will increase frequencies from Vietnam from November this year, a time when demand for travel to and from Vietnam surges.

Thierry Beragnes, Air France’s country manager in Vietnam, told the Daily after a press conference held in HCMC on Wednesday to introduce the new services that the carrier would leave Tan Son Nhat Airport for Charles de Gaulle Airport in Paris at 10:45 p.m. on Wednesdays, Fridays and Sundays from November 2.

The services from Charles de Gaulle Airport will be at 11:25 p.m. on Tuesdays, Thursdays and Saturdays, and land on Tan Son Nhat at 4:55 p.m. the next days.

Air France will use its Boeing 747-400 equipped with 40 business and 396 economy seats for the three weekly non-stop services, which Beragnes said would mark a new step in its development in the Vietnamese market.

Air France showed confidence in the Vietnamese market, which he said had changed for the better compared to six years ago when it suspended a code-share pact with Vietnam Airlines for non-stop flights from Paris, leaving the Vietnamese airline the sole operator of direct flights on this route.

“The economic context has changed and Vietnam on Thursday is quite different from six years ago in terms of development. An airline like Air France is really confident in the development of Vietnam,” Beragnes told reporters.

Air France will start to operate the new generation Boeing 777-300ER on the Paris-HCMC route in January to offer a full range of Air France in-flight products, including the new Premium Voyageur seat, which is positioned between the business and economy cabins.

Beragnes said passengers aboard the non-stop services would be served a choice of Vietnamese meals in all cabins in addition to the traditional French cuisine and wines.

From November, Air France will also join two weekly code-share services from HCMC and five frequencies from Hanoi, and these non-stop flights will be operated by Vietnam Airlines under an agreement between the two carriers.

Vietnam Airlines’ non-stop services will depart from HCMC at 11:10 p.m. on Tuesdays and Saturdays, and arrive in Paris at 6:30 a.m. the next days. The flights from Noi Bai Airport in Hanoi will take off at 11:55 p.m. on Tuesdays, Wednesdays, Fridays, Saturdays and Sundays for Charles de Gaulle Airport.

Beragnes said the flight and route changes underlined stronger cooperation between the two members of SkyTeam. The flagship carrier of Vietnam became a full member of the world’s second largest airline alliance on June 10.

The changes mean Air France will stop flying between Paris and Vietnam via Bangkok as it does currently. However, passengers can board Air France’s flights to Paris and then to other destinations in Europe and the world.

Air France now sells return fares from US$777 excluding taxes and fees until October 24 for the non-stop services from either HCMC or Hanoi to Europe between November 1 and March 31, 2011. Beragnes said customers would be able to purchase these promotional fares on www.airfrance.com.vn, booking offices and agents.

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Monday, December 27, 2010

Air France unveils non-stop services to HCMC

Thierry Beragnes of Air France introduces the non-stop services between Paris and Vietnam at the press conference in HCMC on Wednesday - Photo: Mong Binh
HCMC - Air France on Wednesday announced it would operate non-stop services between Paris and HCMC and will increase frequencies from Vietnam from November this year, a time when demand for travel to and from Vietnam surges.

Thierry Beragnes, Air France’s country manager in Vietnam, told the Daily after a press conference held in HCMC on Wednesday to introduce the new services that the carrier would leave Tan Son Nhat Airport for Charles de Gaulle Airport in Paris at 10:45 p.m. on Wednesdays, Fridays and Sundays from November 2.

The services from Charles de Gaulle Airport will be at 11:25 p.m. on Tuesdays, Thursdays and Saturdays, and land on Tan Son Nhat at 4:55 p.m. the next days.

Air France will use its Boeing 747-400 equipped with 40 business and 396 economy seats for the three weekly non-stop services, which Beragnes said would mark a new step in its development in the Vietnamese market.

Air France showed confidence in the Vietnamese market, which he said had changed for the better compared to six years ago when it suspended a code-share pact with Vietnam Airlines for non-stop flights from Paris, leaving the Vietnamese airline the sole operator of direct flights on this route.

“The economic context has changed and Vietnam on Thursday is quite different from six years ago in terms of development. An airline like Air France is really confident in the development of Vietnam,” Beragnes told reporters.

Air France will start to operate the new generation Boeing 777-300ER on the Paris-HCMC route in January to offer a full range of Air France in-flight products, including the new Premium Voyageur seat, which is positioned between the business and economy cabins.

Beragnes said passengers aboard the non-stop services would be served a choice of Vietnamese meals in all cabins in addition to the traditional French cuisine and wines.

From November, Air France will also join two weekly code-share services from HCMC and five frequencies from Hanoi, and these non-stop flights will be operated by Vietnam Airlines under an agreement between the two carriers.

Vietnam Airlines’ non-stop services will depart from HCMC at 11:10 p.m. on Tuesdays and Saturdays, and arrive in Paris at 6:30 a.m. the next days. The flights from Noi Bai Airport in Hanoi will take off at 11:55 p.m. on Tuesdays, Wednesdays, Fridays, Saturdays and Sundays for Charles de Gaulle Airport.

Beragnes said the flight and route changes underlined stronger cooperation between the two members of SkyTeam. The flagship carrier of Vietnam became a full member of the world’s second largest airline alliance on June 10.

The changes mean Air France will stop flying between Paris and Vietnam via Bangkok as it does currently. However, passengers can board Air France’s flights to Paris and then to other destinations in Europe and the world.

Air France now sells return fares from US$777 excluding taxes and fees until October 24 for the non-stop services from either HCMC or Hanoi to Europe between November 1 and March 31, 2011. Beragnes said customers would be able to purchase these promotional fares on www.airfrance.com.vn, booking offices and agents.

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Bold moves suggested to make Indochina real single destination

Buyers and sellers meet in a business matching session at the Saigon Exhibition and Convention Center in District 7 - Photo: Dao Loan
HCMC – Several overseas travel firms on Wednesday called on tourism authorities of the three Indochina countries to go beyond the slogan to make the sub-region a real single destination by making cross-border travel free of red tape.

Gabriella Papp, sales manager of Eurohand Travel from Hungary, suggested that the three countries consider the possibility of issuing a common visa for travelers to cross the border easier. The common visa will help international tourists to save time and budget and make it easier for them to tour the three destinations.

“There are no embassies of Laos and Cambodia in Hungary, so tourists can benefit greatly if the three countries have strong cooperation to make the one-visa procedure,” she said at the Vietnam-Laos-Cambodia Destination Nexus for Tourism seminar held in HCMC’s District 7.

Of course this bold suggestion is difficult to realize given the huge amount of work to be tackled to iron out related procedures.

On the first day of the gathering, visa procedures were also the issue that captured great interest from overseas travel firms.

A representative from Italia complained about the complicated visa procedures in Vietnam, let alone the paperwork to enter Indochina, so the travel firm wanted to have clear information about procedures.

A representative from Bangladesh raised a similar question, wanting to know the easy way to get a visa to enter Vietnam. “And besides Vietnam, we also want to know about the procedures in Laos and Cambodia to bring tourists in,” he said.

Other travel agents suggested that Vietnam give visa exemption to visitors from potential markets.

Vu The Binh, head of the Travel Department under Vietnam National Administration of Tourism, said that Vietnam is giving visa exemption to nine countries in ASEAN and some other countries such as Japan, South Korea, and Russia.

The visa exemption policy is only offered to visitors from those countries with huge potential as a key source market for Vietnam, he said.

However, Binh said visas for travelers were not that difficult if foreign travel companies cooperate with local travel firms to make the procedures.

The tourism official also noted that Vietnam has been exempting visa fees during promotion programs to make it more attractive to international visitors. “We expect the next program (of visa fee exemption) will be launched next month. It will run until the end of this year,” he said.

Foreign participants at the seminar said the three countries are on the right way to strengthen cooperation to promote Indochina as a single destination. However, the three countries need more efforts in developing products, and linking tourist sites for better attraction.

A tour operator from Myanmar suggested that Vietnam Airlines need to connect flight from HCMC to Siem Reap in Cambodia and then Myanmar along with linking flights from Paris to HCMC and Siem Reap and then Myanmar to woo more international tourists.

The seminar is one of several activities of the yearly International Travel Expo in HCMC. Other activities staged on Wednesday included the ASEAN Tourism Forum, buyers-sellers speech dating, and a special dinner to welcome foreign buyers. The exhibition and other meetings of tourism officials will take place on Thursday in the city.

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