HA NOI — Vietnam Airlines recently announced a programme of cut-price tickets, from July 25 to August 4, with departures from August 13 to December 31.
From August 13, the national flag carrier will also re-open the HCM City-Nagoya (Japan) route with two flights on Monday and Friday every week.
With the re-opening, the carrier will run 8 direct flights to Tokyo, Osaka, Nagoya and Fukuoka in Japan with a total of 45 flights per week.
The promotion is valid on flight numbers VN968 and VN969, from HCM City-Nagoya at an attractive US$299,60 per cent off than the standard price.
Vietnam Airlines is also offering 20 per cent off the ticket price on the HCM City-Hong Kong route to $198, this will apply to tickets departing from July 1 to October 31.
Cooking gas price falls VND13,000
HA NOI — Retail gas prices dropped VND13,000 per 12-kilo canister on Thursday, according to some gas companies.
Gas prices from SP Gas and Vina Gas now cost VND249,000 – 252,000 (US$13 – 13.3) per 12-kilo canister.
This is the second time that domestic gas prices have declined after having risen to VND275,000 per canister in May.
Do Trung Thanh, deputy head of marketing for Saigon Petro Co said that the reduction of domestic gas prices was a result of slumping world gas prices, which have dropped $50 to $620 per tonne.
Malaysia firm builds truck plant
DA NANG — Malaysia's Tan Chong Industrial Equipment Co (TCIE) recently started the construction of the TCIE Viet Nam vehicle assembly plant in Hoa Khanh Industrial Zone in central Da Nang City.
The project has total investment capital of US$15 million and occupies an area of 130,000 sq.m with a capacity of 1,200 lorries per year, which will increase to 12,000 trucks per year in 2015. The plant will be completed by 2012.
Foreign investors like Tien Giang
TIEN GIANG — Southern Tien Giang Province welcomed 50 new domestic and foreign investors seeking investment opportunities in the first six months of this year.
The provincial People's Committee granted licenses for 12 investment projects with a total capital of over VND2.8 trillion (US$147.36 million). The majority of them are focused on industrial production, tourism, trade and services.
The province is currently considered an additional 14 investment projects worth VND18 trillion($947.36 million).
Tran The Ngoc, Chairman of the provincial People's Committee, said that Tien Giang has improved its policies and had reformed its administrative procedures to attract more investment.
Campaign to support domestic firms
HCM CITY — The Association of Producers of High-Quality Goods (APHQG) and the Centre for Research and Support for Businesses launched a programme to support Vietnamese products in HCM City on July 1.
The city's leaders are committed to supporting businesses, as well as the APHQG, to help them raise their competitiveness by providing the best quality goods to customers.
The programme will focus on three main activities: assisting businesses to develop the domestic market, encouraging people to respond to the "Vietnamese should use Vietnamese products" campaign and sharing business and management experiences for small and medium-sized enterprises.
First VietGAP certification awarded
DONG NAI — Southern Dong Nai Province's Suoi Lon Agriculture, Trade and Tourism Co-operative has received VietGAP certification (Vietnamese Good Agriculture Practises) for its mangos on June 30.
After one year of test planting over 15ha, producing 450 tonnes of mango a year, the Suoi Lon co-operative's products met all VietGap criteria and became the province's first agriculture producer to receive certification.
The co-operative now has 28 members with total cultivation land area of 80ha.
HCM City Infrastructure to issue convertible bonds
HCM CITY — HCM City Infrastructure Investment Co (CII) will issue US$20-25 million worth of convertible bonds to its anonymous foreign partner.
The bonds will have a 5-year term of maturity with a coupon rate of 4 per cent per year, to be calculated at the US dollar forex rate of the payment time. The as yet unnamed foreign partner has an option to convert one part or all of the bonds into shares after 1 year of issue and they hold the option to ask the issuing company to buy back the bonds at the price the foreign partner paid after 2 years.
The bonds will be converted into shares at the price of VND43,500 ($2.30) each. CII postponed the impending additional issue to raise its charter capital in order to make this bond issue.
Sacombank brokerage to list shares in HCM City
HCM CITY — Sacombank Securities Co (SBS) will list 110 million shares for the first time on the HCM City Stock Exchange next Monday with a reference price of VND38,000 (US$2.01).
The brokerage has charter capital of VND1.1 trillion ($58.2 million). Currently, there are 244 companies listed on the HCM City exchange with total capitalisation of over VND525.6 trillion ($27.8 billion).
Korean, Japanese partners join in oil, gas fund
HA NOI — PetroVietnam Finance Capital, a subsidiary of PetroVietnam Finance Corp (PVF), signed an agreement with Japanese and South Korean partners to set up a US$500 million oil and gas fund.
The fund, with a life span of 5-10 years, is expected to start operations in October 2010 with the main purposes of raising investment for key large projects of the Vietnamese energy industry.
Logistics company posts $2 million profit
HCM CITY — Tan Cang Logistics and Stevedoring Co (TCL) earned a total revenue of VND199 billion (US$10.5 million) in the first five months of this year, equivalent to over 40 per cent of the target it set for the whole year.
The company's net profit reached more than VND37 billion ($2 million) during this period, up nearly 70 per cent from the same period of last year and equal to 47 per cent of this year's plan. Ending May, its earnings-per-share (EPS) obtained VND2,218 ($0.12).
Phu My Fertilisers to up stake in developer
HCM CITY — PetroVietnam Fertiliser and Chemicals Co (DPM) plans to purchase 2.2 million shares in PetroVietnam Southern Building Development and Management Co from PetroVietnam Construction Co (PVX) to increase its stake in the company to 60 per cent.
After the announcement, DPM shares rose 3.3 per cent to VND31,000 (US$1.64). However, shares fell 2.85 per cent yesterday to VND30,600 ($1.62).
Listed developer opens real estate trading floor
HCM CITY — Binh Duong Trade and Development Co (TDC) opened a property trading floor recently on Nguyen Dinh Chieu Street in HCM City as part of its business expansion plan.
The HCM City bourse-listed company, with charter capital of VND200 billion (US$10.6 million), also plans to open its first trading floor in the north and establish a concrete batching facility in the northern city of Hai Phong later this year. — VNS