Updated  
November, 28 2011 08:59:50

ICE tourism up significantly, says travel company

HCM CITY — Sai Gon Tourist Travel Service Co said on Thursday that it had welcomed 850 foreign visitors this month for meetings, incentives, conferences and exhibitions (MICE).

About 250 visitors will come for the International Conference on Radiopharmaceutical Therapy in HCM City today.

MICE visitors also book tours to attractions such as the Cu Chi tunnel, Ha Long bay and Hue ancient citadel.

Japanese brewery to produce up to 150m litres when completed

LONG AN — Sapporo Viet Nam Co put into operation a beer factory at the Viet Hoa-Duc Hoa 3 Industrial Park in the Cuu Long (Mekong) Delta province of Long An on Thursday.

Sapporo Viet Nam Co Ltd is a join venture between the Viet Nam National Tobacco Corporation (Vinataba) and Sapporo Holdings Ltd of Japan.

Covering an area of 6.5ha, the factory was built for a total investment of US$75 million and was capable of producing 40 million litres per year in the first phase and its output was expected to increase to 100 million litres and 150 million litres per year in the next two phases.

HCM City among top 10 in Asia for real estate investment

HCM CITY — HCM City ranked sixth in the top 10 Asian cities for real estate investment prospects, according to the Urban Land Institute's "Emerging Trends in Real Estate Asia Pacific 2011" survey.

The city ranks after Singapore, Shanghai, Hong Kong, Beijing and Quangzhou.

ULI surveyed, analysed and assessed development and investment trends and many other relevant issues in real estate in the Asia Pacific.

Ca Mau fertiliser plant undergoes successful trial run

CA MAU — The operation of a urea plant, one of final stages of the project of Ca Mau Nitrogen Fertiliser Plant, was successfully tested on Thursday.

Construction of the US$900 million Ca Mau Nitrogen Fertiliser Plant is now 97 per cent completed after start in July 2008. It is expected to start operations by the end of this year.

The plant is located in An Khanh Commune, U Minh District, Ca Mau Province, on an area of 62ha, with a designed capacity of 800,000 tonnes of nitrogen fertiliser per year.

Vinagame exports social network software to Japanese market

HA NOI — Vinagame, Viet Nam's leading internet company, signed a strategic co-operative agreement with Japanese social gaming company DeNA in Ha Noi last week to export its social network game to Japanese market.

Under the agreement, the game "Pig Farm" would be on the Japanese market through the social gaming website Yahoo!Mobage.

DeNA and Vinagame are also working to change the language of another Vinagame game, "Sky Garden", to Japanese.

HCM City to host 9th international trade fair this week

HCM CITY — Nearly 400 domestic and foreign enterprises will showcase a wide range of products and services at the 9th Viet Nam International Trade Fair in HCM City, held from 30 November to 3 December at the Sai Gon Exhibition&Convention Centre in District 7.

Algeria, Belarus, Indonesia, Japan, South Korea, China, Malaysia and the Czech Republic are among the international exhibitors.

The exhibition will display industrial and agricultural machinery, construction machinery and materials, agricultural products, handicrafts, wooden interior decoration products, household items, textiles and garments and electronics products. It will also present various services offered by finance, banking and tourism sectors.

Funds to get green light to offer new services

HA NOI — In addition to open-end fund operations to be allowed early next year, the nation's stock market will be able to offer additional new investment fund services consistent with international practice, according to the State Securities Commission.

The commission is collecting public comment on a draft circular guiding the establishment, fundraising and management of investment funds, including closed-end funds, private funds, and real estate investment funds. Once promulgated, the circular would offer investors more diversified investment channels, the commission said.

Ministry sets out bond swap procedures

HA NOI — The Ministry of Finance has issued Circular No 150/2011/TT-BTC, specifying Government bond swap procedures, bond registration, depository and listing. About 30 listed bonds would be eligible for swaps under the circular when it takes effect on December 24, according to the Ha Noi Stock Exchange.

Bonds to be swapped include those listed on the Ha Noi exchange with a remaining maturity of at least one year and which are not bound by any secured transactions at the time of the swap.

Over 20% auditing firms deemed unqualified

HA NOI — As many as 20 per cent of auditing firms failed to pass the periodic testing of auditing firms in 2011, conducted by the Viet Nam Association of Certified Practicing Auditors, the asscociation announced.

Although the quality of auditors has improved, the association said, many shortcomings remained in auditing firms. Six out of 30 companies were unqualified, with Ha Noi Auditing and Consulting Co ranked as "poor". Two companies scoring over 90 points included Ernst & Young Vietnam Ltd and A&C Auditing and Consulting Co.

The State Securities Commission has also published the list of 32 auditing companies and 331 auditors approved to audit listed companies on both exchanges next year.

PetroVietnam Construction to offer additional shares

HA NOI — PetroVietnam Construction Co (PVX) plans to issue 250 million additional shares on December 3, including 12.5 million to be paid as a dividend, 12.5 million to be offered to company staff, and 125 million to be offered to existing shareholders at a ratio of 2:1, at an asking price of VND10,000 per share. Another 100 million would be issued to strategic investors at a price of at least VND12,000.

PVX expects to raise VND2.7 trillion ($128.6 million) from this issue. Interested shareholders would have to register to purchase the shares, and complete payment, between December 15 to January 20. — VNS

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