Levi's targets Viet Nam's youth

Update: May, 07/2011 - 08:42
NINH BINH — Viet Nam was a developing market for Levi's retail actitivities due to its young population, president and CEO John Anderson said on Thursday.

The country was also one of the company's most important sourcing countries, he said.

Last year, the company opened a 22,000sq.m jeans finishing factory in the northern province of Ninh Binh, the first of its kind in the Asia Pacific.

Industrial zone area expanded

QUANG NAM — The second phase of Chu Lai North Industrial Zone project in central Quang Nam Province has been increased from 120ha to 154ha.

Chu Lai Industrial Zone Infrastructure Development Company is responsible for the VND226.5 billion (US$10.8 million) second phase. It is planned to complete the project by 2015.

The Chu Lai North Industrial Zone has a total area of 357ha, 40 per cent of which was used in the first phase of the project. In early 2011, it attracted more than $26.4 million foreign direct investment and VND11.6 trillion ($552 million) of domestic investment.

Prices continue to rise in May

HA NOI — Prices of essential commodities would continue to increase or remain high in May, the domestic market management team of the Ministry of Industry and Trade has said.

Prices of such items as food, salt, coal, pharmaceuticals, petroleum were forecast to rise or remain high, the team said.

Only sugar and steel were expected to see a slight reduction in prices as sugar stocks were 524,900 tonnes, 37 per cent higher than the same period last year.

Also, world sugar prices were declining and steel material prices were also tending to soften.

Province gets new animal food plant

DONG NAI — GreenFeed Viet Nam Joint Stock Company on Thursday opened its animal food plant at Song May Industrial Zone in southern Dong Nai Province.

GreenFeed Viet Nam invested about US$4 million in the plant, with a first phase capacity of about 120,000 tonnes a year. The company used an enterprise resource planning system for the first time on the project and aimed to continue applying the system.

Milk plant to be upgraded

BINH DUONG — FrieslandCampina Viet Nam has started the second phase of upgrading its pasteurised milk plant in Binh Duong Province.

The company divided its upgrading process into four main stages and committed more than US$13 million to end the process in 2012.

The plant would be equipped with the latest generation of automated fillers.

Companies to build Happy Land

LONG AN — Khang Thong Corporation signed an investment contract with Pico Viet Nam Co Ltd and Singaporean Sanderson Group to jointly invest in the construction of the Happy Land Viet Nam entertainment complex.

Phu An Construction Investment and Infrastructure Development Company, a subsidiary of the Khang Thong Corp, is the owner of the project, which will have Pico invest US$600 million in the construction of the Happy Land Theme Park, one of the six entertainment centres in the project.

The theme park will cover nearly 100 hectares.

Meanwhile, Sanderson Group will provide investment for the construction of the Happy Land studio and television centre worth $140 million.

PetroVietnam to up investments

HA NOI — Rising input costs have forced PetroVietnam Premier Recreation Joint Stock Company (PVR) to increase its investment capital in the Ha Noi Times Tower project.

According to the PVR, input costs have increased by approximately 18 to 25 per cent.

The company will boost its investment to about VND1.8 trillion (US$86 million), up from VND1.45 trillion ($69 million). The project will also be adjusted in height, from 39 storeys to 40 storeys.

With construction starting in October last year, the PVR expects to complete the project by the end of 2013.

New real estate trading floor opens

HCM CITY — Binh Chanh Construction Investment Joint Stock Company (BCCI) on Wednesday launched the BCCI 2 real estate trading floor in District 1, HCM City.

The newly established trading floor will provide trading, brokerage, valuation, consultation and property management services.

In addition, it will also take care of legal procedures for properties which are invested in by the company.

Two new urban areas approved

QUANG NAM — Quang Nam provincial People's Committee has approved detailed plans for land use at the Bach Dat and Phu Thanh My urban areas, both of which are located in Dien Nam – Dien Ngoc urban area.

Accordingly, Bach Dat urban area consists of 29 hectares, including 763 apartments and 67 villas to serve a population of more than 4,000 people.

Phu Thanh My is more than 61 hectares in scale.

S&P gives B-rating to developer

SINGAPORE — The HCM City-listed property developer Hoang Anh Gia Lai Co (HAG) received a B rating for its proposed issuance of senior notes by Standard&Poor's.

The ratings agency said the company's liquidity position was adequate, thanks to its cash balance of VND3.6 trillion (US$184 million) and a short-term debt of VND3.1 trillion ($158.5 million) as of December 31, 2010.

"We expect HAG's capital expenditure to be close to VND3.8 trillion ($196 million) in 2011, mainly to fund its real estate projects, hydropower business and rubber plantations," the agency said.

More foreign investors licensed to trade

HA NOI — The Viet Nam Securities Depository Centre has granted securities trading codes to 80 new foreign investors in April. They include 19 institutes and 61 individuals. The centre has so far granted codes to 15,200 foreign investors to trade stocks in domestic markets, including 1,534 institutes and 13,666 individuals.

Military Bank to list on HCM City bourse

HCM CITY — The Military Bank has obtained listing approval from the HCM City Stock Exchange, said the bank's deputy chairman Le Van Be.

He told shareholders at the bank's annual meeting that trading of the bank's shares on the exchange might begin later this quarter.

This year, the bank plans to increase its charter capital to VND10 trillion (US$483 million) from the current VND7.3 trillion by issuing new shares to existing shareholders as well as strategic partners. — VNS