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Posts Tagged ‘expansion’

Dai Nam Tourist Site gets US$150 million expansion

In Uncategorized on July 2, 2010 at 2:22 pm

More than VND3 trillion (US$150 million) will be invested in the second phase of the Dai Nam Tourist Site, announced the Dai Nam Joint Stock Copmany at the 2nd anniversary of the parks’ founding on July 1.

                  Dai Nam Tourist Site

“The company will focus on building a miniature of Vietnam and a miniature world,” said Dai Nam Director-general Huynh Uy Dung.


“The second phase construction will be completed soon. We hope that the park will be a pride for Vietnamese people and a place honoring Vietnamese traditional culture” he added.


The Dai Nam Tourist site covers on an area over 450 hectares in the town of Thu Dau Mot, Binh Duong Province, about 45 minutes drive from HCM City.


The first stage of the park was put into operation at a total cost of more than VND2.5 trillion (US$125 million).


The park received more than 3.5 million visitors last year and is expected to attract over 5 million in 2010, and 10 millions in 2012, the company said.

Source: SGGP

Qatar Airways expansion: flights to Hanoi, daily service for HCMC

In Uncategorized on June 23, 2010 at 12:37 pm

Qatar Airways has announced a massive expansion plan for its operations in Vietnam, saying it will add Hanoi to its network and make the Ho Chi Minh City route a daily service.


A Qatar Airways statement, seen in HCM City Wednesday, said from November 1 this year, Hanoi will become the airline’s second network point in the country, with four weekly flights to Doha operating via Bangkok.


The flights will be on Mondays, Tuesdays, Fridays and Saturdays.


The carrier’s HCM City route will on the same day become a daily service with three extra flights a week heading to Doha, also via Bangkok, adding to the four non-stop direct flights in operation since March 2007.

This file photo shows a Qatar Airways flight attendant stand at the Qatar Airways pavilion in an international travel expo in Ho Chi Minh City (Photo: Tuong Thuy)

Therefore, the new daily service means four direct flights and three via Bangkok.


The expansion will boost Qatar Airways’ services to 11 flights a week from Vietnam to Doha and further open up the airline’s global network to traveling Vietnamese, with the airline offering onward connections from Doha to destinations throughout the Middle East, Africa, Europe, and North and South America.


The new Vietnam flights are part of a global expansion program that will see Qatar Airways add six new routes over a four month period from October 2010.


The announcement said daily flights from Doha to Thailand’s Phuket will start on October 11. The new flights will operate via Kuala Lumpur. Qatar Airways will also launch flights to Bucharest, Nice, Brussels and Budapest, bringing the airline’s route network to over 95 destinations by January 2011. 


Qatar Airways senior vice president, Commercial East Asia and Southwest Pacific, Marwan Koleilat said that Vietnam was a key growth market for the airline.


“Qatar Airways is delighted to be expanding in Vietnam with the country forging ahead and experiencing rapid economic development,” he said in the announcement.
 
“The new route to Hanoi and the boosting of our Ho Chi Minh City flights to daily services demonstrate the confidence that Qatar Airways has in Vietnam.”


“We have a serious commitment to the Vietnamese people not only to bring tourists to Vietnam, who will contribute to the economy, but to also provide the traveling public access a growing global network and world class airline services.”


Qatar Airways says by 2013, it plans to serve 120 key business and leisure destinations worldwide with a modern fleet of 120 aircraft. At present the airline’s fleet stands at 84 aircraft, flying to 90 destinations across Europe, Middle East, Africa, Asia Pacific and North America.

Source: SGGP

Local textile, garment firms cooperate to boost expansion

In Vietnam Economy on January 20, 2010 at 10:42 am

Domestic textile and garment enterprises are joining forces to expand distribution channels and retail store chains in the local market. The move is also aimed at easing the financial burden of renting space to do business as well as coping with global competition pressure by multi-national groups.








Customers choose new designs of Gia Dinh Textile and Garment Corporation (Giditex) and Saigon 2 Garment Joint-Stock Company at their retail store.

The cost of renting shop space has increased at a dizzying pace in Vietnam, with rates now up to US$800-3,000 per month. High rental fees have been one of the main obstacles faced by textile and garment companies in expanding their retail systems.


In the past, only large-scale companies have been able to afford the rates.


According to Ms. Duong Thi Ngoc Dung, director-general of the Nha Be Garment Company, large amounts of money must also be spent on brand name development. Therefore, it has been hard for smaller firms to promote local fashion, she said.


The Nha Be Garment Company has now invested more than VND20 billion (US$1 million) to build and develop its new “NBC” brand name, and expand its distribution channel and retail stores nationwide.


Meanwhile, the Gia Dinh Textile and Garment Corporation (Giditex) and Saigon 2 Garment Joint-Stock Company with its Gidini and Sanding brands, recently joined forces to open new retail stores.


Cooperating with other firms also helps enterprises offer customers a variety of goods with diversified designs for all ages, said Mr. Nguyen Huu Toan, director of the Saigon 2 Garment Joint-Stock Company.


Giditex has plans to collaborate with other garment enterprises like the Phong Phu Corporation and Saigon Garment Manufacturing Trade Joint Stock Company (Garmex Saigon) to open more stores. The merge will target consumers more effectively and directly, added Mr. Le Dong Trieu, director-general of Giditex.


The Vietnamese fashion industry is currently struggling against competitors from China, Thailand and Korea. The ASEAN-China Free Trade Area (ACFTA) began operations January 1 to evaluate and propose solutions for economic cooperation, investment and commercial exchange between China and ASEAN members in the near future.


Vietnam, Laos, Cambodia and Myanmar are set to join the ACFTA in 2015. Domestic garment companies will thus have five more years to promote their fashion products in local markets.


Experts say the countries should focus on four areas including design, marketing, production, and establishing a distribution network.


After building prestigious brands, Vietnamese businesses will stand to earn more money for every unit of clothing sold to exporters. Currently local businesses earn just a few cents per unit while foreign companies purchase inexpensive local products and then mark them up substantially under famous brand names.


Source: SGGP Bookmark & Share

HCM City’s green expansion comes slowly

In Politics-Society on October 17, 2009 at 3:33 am




HCM City’s green expansion comes slowly


QĐND – Friday, October 16, 2009, 20:55 (GMT+7)

HCMC targets a per capita public parks and greenery coverage of 4.5 square meters during the 2006-2010 period, but the current coverage is only 0.3 square meters in 13 central districts and 1.5 square meters in the other 11 suburban districts, according to the city’s Transport Department.


While the achieved green space is far behind the standard of necessary trees for each person, the city has difficulty developing more public parks because it lacks land, said Do Van Tam, an official of the Transport Department’s Parks and Greenery Office.


Tam told the Daily the other reason for slow development of greenery was the high cost of tree growing at residential projects which are under construction in suburban areas.


“The growing cost for one square meter of tree is some VND300,000, while the expenditure for caring for the trees annually is also very high. This makes the developers of housing projects reluctant or ignore to reserve land for trees,” he said.


So far, urban traffic control units of the transport department have managed over 61,000 trees along city streets and 10,000 trees in parks and near public buildings with an area of around 690 hectares. To maintain these public trees, the city spends some hundreds of billions of dong each year.


Tam stressed that other projects to build public parks around the city were still undeveloped due mostly to a lack of budget though the city’s related authorities recently initiated a plan to raise the ratio of green space for each person to 7-8 square meters by 2015.


He cited the project to expand Gia Dinh in Phu Nhuan district by 7.6 hectares at a cost of VND120 billion that cannot be developed for many years.


In 1998, the city intended to spend some VND90 billion for compensation for site clearance of 17 families and state-owned offices in downtown Tao Dan park to take back seven hectares of land to grow trees, but after over 10 years the city has not completed site clearance.


According to the Transport Department’s initial plan to increase the city’s green space according to the fast population growth, the city needs to grow 79 hectares of large public parks in central areas and grow 30,000 trees along the streets.


Tam also says developers of housing projects which are under construction around the city need to invest some VND12 trillion to grow 3,932 hectares of trees and smaller parks as a requirement for the development of residential projects in the city.


“This greenery target needs large investment capital and I think the investors cannot afford it, so the target for expanding green space in the city seems hard to be feasible,” he added.


Cao Tung Son, vice head of the Environment Management Office of the city’s Natural Resources and Environment Department, said the green space not only played an important role in keeping the city’s beauty, but also helped protect people’s health from urban noise and respiratory diseases from air pollution.


Son said growing trees in the city seemed easier said than done because of lack of budget and land, or, to speak frankly, the city’s authorities lack determination to increase the green space.


For example, he said, the city plans to relocate over 1,400 manufacturers causing environmental pollution from central districts to suburban areas with an initial aim to create more land for developing green space. However, it turns out that very few public parks are built while more housing and residential projects are being prepared for development on empty lots.


Son judges that if the city’s authorities are not determined to develop green space, the city will never reach its target of 7-8 square meters of green space.


He also noted that some public parks are threatened as some investors intend to build underground car parks in the downtown area.


Source: VNN


Source: QDND Bookmark & Share

Airlines report gains and expansion

In Vietnam Travel on October 13, 2009 at 3:06 am




Airlines report gains and expansion


QĐND – Monday, October 12, 2009, 21:14 (GMT+7)

Air carriers serving Vietnam appear to be not just weathering the economic crisis, but thriving in it. Recent reports from Vietnam Airlines (VA), Vietjet Air and Jetstar Pacific reveal that the airline industry is heating up in Vietnam.


At a ceremony announcing the new VA Hanoi-Fukuoka air route on October 9, 2009, VA Deputy General Director Trinh Hong Quang speculated that the national flag air carrier will earn some 50 billion dong in profit in 2009.


Quang said that the air carrier has expanded despite the economic crisis because it anticipated difficulties and set up reasonable policies to lower expenses.


“We have been flexible with our business. For example, we have been using smaller aircraft on air routes with low numbers of passengers,” Quang explained.


While other airlines have been suffering, VA has decided to open many new air routes, such as the direct Hanoi-Fukuoka flight twice weekly.


VA is now the top choice of Japanese travelers coming to Vietnam, Laos and Cambodia. The air carrier hopes to see the number of Japanese travelers to Vietnam rise from 400,000 to 500,000 in the future.


Additionally, Jetstar Pacific has enjoyed an impressive passenger growth rate of 30 percent in the first six months of 2009, with nearly one million passengers served, compared with the same period last year. On the HCM City – Hanoi air route, the airline now provides 40 percent of regular flights.


Jetstar Pacific hopes that its total number of passengers on domestic flights will reach two million in 2009, an increase of 25 percent over the previous year (1.5 million).


Vietjet Air, the first private airline in Vietnam received its flight license in December 2007, but has delayed launching flights several times due to economic difficulties.


Luu Thanh Binh, Deputy Head of the Civil Aviation Administration of Vietnam (CAAV), which once threatened to revoke Vietjet Air’s license, noted that CAAV has extended their deadline from seven months to one year, granting Vietjet Air additional time to prepare.


In related news, Circular No 103, which removes the airfare ceiling, has not come into effect. Currently, domestic airlines must follow ceiling guidelines (i.e. they cannot set airfares higher than the ceiling level stipulated by CAAV).  Airlines want the ceiling removed so that they can base airfares on demand and flying capacity.


Binh reported that, although Circular 103 removes the airfare ceiling, the 2006 Civil Aviation Law is still valid and it stipulates that ceilings must be set. In order to implement the circular, he commented, the law itself must be amended.


Source: VNN


Source: QDND Bookmark & Share

Foreign banks licensed for expansion in Vietnam

In Uncategorized on October 11, 2008 at 9:12 am

Hanoi (VNA) – The State Bank of Vietnam (SVB)’s Governor has granted licences to foreign banks to set up banks, increase funds to their branches and open representative offices in Vietnam as part of the country’s commitments to international economic integration.

The Australia and New Zealand Banking Group Limited (ANZ) has become the third wholly foreign owned bank in Vietnam under a licence signed by the SVB’s Governor on Oct. 9.

The licence permits ANZ Bank ( Vietnam ) to operate over a period of 99 years with a charter capital of 1 trillion VND.

Earlier, the SBV licensed two of the UK ’s banking giants, HSBC and Standard Chartered Bank.

On Oct. 8, SVB allowed the US bank, JPMorgan Chase N.A. to increase its branch capital in Ho Chi Minh City from 17 million USD to 27 million USD.

Previously, the Malaysia-based RHB Bank Berhad was granted a licence to open its representative office in Ho Chi Minh City with an initial operating period of five years.-

Vietnam’s insurance market sees fast expansion

In Uncategorized on September 27, 2008 at 7:48 am

Geneva (VNA) – Vietnam ’s insurance market has expanded rapidly over the past years and will become one of the fastest growing markets in the world, according to the Business Wire website.

“With support from the liberalisation post WTO agreements, economic growth, rising incomes and increasing insurance awareness, the market will continue to grow at fast pace in coming years, the website said.

The life insurance market in Vietnam seems very promising as the country has a population of over 85 million people, with only eight life insurers, reflecting a low penetration rate, the website commented. Thus, life insurance market can prove to be a boon for foreign life insurers, it said, citing the ” Vietnam ‘s Insurance Sector Forecast to 2010” report.

According to the report, Vietnam ’s insurance industry is forecasted to grow at around 22 percent during the 2008-2010 period. Life insurance is projected to hit 12.1 percent and non-life insurance is expected to grow at 29 percent during the period.-

Vietnam aviation sector targets airport expansion

In Uncategorized on September 26, 2008 at 1:20 pm


Hanoi (VNA) – The Vietnamese aviation sector is embarking on a plan to develop a network of 26 airports, including 10 international ones, by 2020.

The plan, which includes expanding existing airports and building new ones, is to cost 221.5 trillion VND, according to an aviation transport development scheme drawn up by the Ministry of Communications and Transport.

According to Civil Aviation Administration of Vietnam (CAAV) Chief Pham Quy Tieu, the Government has given the nod to an expansion plan proposed by Noi Bai international airport in Hanoi .

Under the approved plan, a new terminal will be built at Noi Bai, which will help the airport to receive up to 50 million passengers a year by 2020, a huge increase on the estimated 8 million passengers who will use the airport this year.

The CAAV is considering the enlargement of Tan Son Nhat international airport in Ho Chi Minh City to enable it to provide facilities and space for around 70 planes to land by 2015, the CAAV chief said.

It is expected that once the enlargement scheme is completed, Tan Son Nhat airport will be able to handle 23.5 million passengers and 600,000 tonnes of cargo a year.

According to the aviation transport development scheme, the country’s largest airport, Long Thanh international airport will be built in Ho Chi Minh City ’s neighbouring Dong Nai province, with the facilities to provide services to 100 million passengers a year.

Several small airports are currently being upgraded to substitute for Noi Bai and Tan Son Nhat airports if needed, including Da Nang airport in the central city of Da Nang and Cat Bi airport in the northern city of Hai Phong.

Chu Lai airport in the central province of Quang Nam will get 11 trillion VND to build a new passenger terminal with the aim of enabling the airport to cater for 2.2 million passengers by 2015.

Lien Khuong airport in the central highlands province of Lam Dong is being also upgraded so it can serve 943,000 passengers a year by 2015. A new airport to serve planes providing short and medium-range flights is under construction in Phu Quoc island, Kien Giang province. The Phu Quoc airport is expected to welcome 2 million passengers a year.

Rach Gia airport, which is also in Kien Giang province, is set to be expanded to receive 300,000 passengers a year by 2015.

A terminal designed to serve 3 million passengers a year at Can Tho international airport in the Mekong delta city of Can Tho is expected to become operational in May 2010.

There are currently 20 airports in Vietnam , including five international airports which provide services for an estimated 30 million passengers a year, according to the CAAV.-