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Posts Tagged ‘overseas’

Vietnam’s investment overseas to rise in 2011

In Uncategorized on January 8, 2011 at 4:12 am

Vietnam’s investment overseas to rise in 2011

QĐND – Monday, January 03, 2011, 20:37 (GMT+7)

Vietnam’s overseas investment capital is estimated to reach US$1.5-2 billion in 2011, of which US$700-900 billion expected to be disbursed, said an official of the Ministry of Planning and Investment (MPI).

Head of the MPI’s Foreign Investment Agency Do Nhat Hoang emphasised the need to monitor overseas investment activities to reasonably regulate the capital flow to stabilise the economy.

In 2010, Vietnam had 107 investment projects in 25 countries and territories with combined registered capital of US$2.926 billion. Disbursed capital totalled around US$900 million, of which over US$700 million was in the mining industry, US$70 million in agro-forestry and fisheries sector and distribution and retail sector accounted for US$53 million.

Source: VNA

Source: QDND

Overseas students join new year festival

In Uncategorized on January 8, 2011 at 4:09 am

A Festival of Overseas Students to celebrate New Year 2011 opened in Hanoi on Dec. 29 with the participation of about 500 students.

Vice President Nguyen Thi Doan welcomes foreign students

The event, the ninth of its kind, was jointly organised by the Tien Phong (Vanguard) newspaper, the Vietnam Television, the Sinh Vien Viet Nam (Vietnamese Students) newspaper and the Quoc Anh International Education Consultancy (QA) company.

At the event, overseas students joined an incense-offering ceremony and an exchange programme to share experiences in study and career.

On the occasion, Nguyen Dac Vinh, chairman of the Vietnam Students’ Association and QA company presented certificates of merit and gifts to 30 outstanding students.

In the afternoon the same day, a delegation of 52 overseas students was received by Vice State President Nguyen Thi Doan in Hanoi.

The students, coming from the United Kingdom, the United States, Australia, Japan, China and Singapore among others, were also presented with gifts and letters wishing for a new year.


Source: SGGP

Overseas remittances see impressive rise

In Uncategorized on December 16, 2010 at 10:02 am

Overseas remittances are expected to record USD8 billion  in 2010, an increase of 25.6 percent over last year.

A teller counts US dollar banknotes at a Sacombank branch in Ho Chi Minh City (Photo: Sacombank).

According to the Foreign Currency Management Department under the State Bank of Vietnam, overseas remittances were USD7.6 billion  in the first 11 months of this year and likely to be USD770 million  in December.

In addition, Vietnam ’s commercial banks have said that foreign currencies are flowing into Vietnam and have seen a rise of between 20-30 percent against the previous year.

This high level of remittances is attributed to the recovery of the global economy, which enables overseas Vietnamese to send more money to their relatives in Vietnam , the strong development of banking networks and the improved services offered at banks and economic organizations.

This year’s remittances are mainly from the US , Canada , Australia and markets that accept Vietnamese workers, such as the Republic of Korea, Taiwan and Malaysia .

However, money from Europe is likely to be affected due to public debt in Greece and Ireland .

Overseas remittances are forecast to increase in the next two months until the Lunar New Year festival.

Earlier, the World Bank released a report on worldwide remittances in 2010, with Vietnam ’s overseas remittances forecasted to be USD7.2 billion against USD6.6 billion  in 2009.

The report also showed that Vietnam now ranks 16th out of the top 30 countries surveyed.

Source: SGGP

Prices of overseas tours soar up during Christmas holidays

In Uncategorized on December 16, 2010 at 9:40 am

Prices of overseas tours soar up during Christmas holidays

QĐND – Saturday, December 04, 2010, 20:25 (GMT+7)

The demand for traveling during Christmas and Western New Year’s holiday are high because they fall on weekends, according to several travel agencies.

At present, short-day tours to Central Vietnam, Southeast Asian countries, and China have attracted a lot of visitors, though the price for such a tour has increased by $20 to $80 US.

According to Nguyen Thi Huyen, Deputy Director of Vietran Tour, most of the travelers have booked for Southeast Asian countries such as Singapore, Hong Kong (China), and Thailand. The increased service charge and the shortage of accommodations during the end of the year made the fare for such a tour increase by $20 to $60 US compared to other times of the year.

At Vietran Tour, a four-day tour to Hong Kong charges $698 US; a five-day tour to Thailand costs $379 US, depending on the departure day. Tours to Singapore and Myanmar for four days costs $609 and $549 US, respectively.

A representative from Vietran Tour said that it might run out of tours during Christmas and Western New Year while airfares and hotel rooms are limited.

Meanwhile, Hanoi Redtour has increased its price for outbound tours by 3 to 5 percent, compared to normal days. Visitors have chosen Hong Kong, Guangzhou, Singapore, and Malaysia mostly due to big promotion programs there.

Hanoi Redtour is expected to take around 1,000 visitors to tour foreign countries and 500 visitors to tour around Vietnam. Its seven-day tour to Singapore and Malaysia charges $669 US. A four-day tour to Singapore and Hong Kong-Disneyland costs $599 and $679 US, respectively.

Also, on this occasion, Vietravel has launched 9-day tours around Europe and America combining it with a get-together with a family living abroad.

Meanwhile, prices for inbound tours seem not to have increased. According to Hanoi Redtour, a tour to DaNang-Hoi An, Lang Co for four days charges 4.6 million VND; Nha Trang-Dalat for five days costs 5.8 million VND; DaLat for four days costs 5.2 million VND.

During Christmas and Western New Year’s holidays, Fiditour offers a discount program for tours to Con Dao and Phu Quoc with a price of 2.2 million VND for 50 inbound tours each day.

Source: Vnexpress

Translated by Mai Huong

Source: QDND

Overseas Vietnamese stars raise public awareness of traffic safety

In Uncategorized on November 24, 2010 at 6:20 am

Overseas Vietnamese stars raise public awareness of traffic safety

QĐND – Tuesday, November 23, 2010, 20:54 (GMT+7)

Movie star Kathy Uyen and Australian Idol Thanh Bui were chosen as Goodwill Ambassadors for the public awareness campaign launched by the Asia Injury Prevention Foundation (AIP Foundation) in coordination with the HCM City Traffic Safety Committee.

For the first time, Vietnam has joined the event together with more than 100 other nations to remember road accident victims and share the suffering of the injured. The event also helps raise public awareness of road accident deaths and injuries in hopes preventing more road injuries and fatalities.

In 1993, the Road Peace initiated the World Day of Remembrance for Road Traffic Accident Victims and on 27 October, 2005, the United Nations endorsed it as a global day to be observed on the third Sunday in November every year. This year’s event was celebrated on Sunday 21, November. 

Kathy Uyen and Thanh Bui will be involved in many activities including visiting road accident victims, meeting with government officials to come up with solutions to prevent road accidents, and raising public awareness of traffic safety via the mass media.

Source: VOV


Source: QDND

More favourable conditions for overseas Vietnamese

In Uncategorized on November 11, 2010 at 6:58 am

Domestic banks increase their presence overseas

In Uncategorized on July 2, 2010 at 6:19 pm

Domestic banks increase their presence overseas

QĐND – Friday, July 02, 2010, 21:55 (GMT+7)

Many local banks have been seeking opportunities to expand their businesses abroad, particularly in similar markets or with major trading partners.

After it started to operate in Laos and Cambodia in 2008 and 2009, the Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) drew up plans to penetrate China and expand its network in Cambodia ’s key economic provinces later this year or early next year.

In addition to Sacombank, in Cambodia , two other Vietnamese banks, the Bank for Agriculture and Rural Development (Agribank) opened its first branch on June 28 this year while the Bank for Investment and Development of Vietnam (VIDV) opened its first branch in the middle of last year.

This trend is continuing as the Military Commercial Joint Stock Bank has recently announced a plan to set up a branch in Laos in 2010.

Domestic banks are also seeking ways of expanding their business in Europe. For example, the BIDV-owned Vietnam-Russia Joint Venture Bank (VBR) officially opened in Russia late last year. This is also the first fully Vietnamese bank in Europe.

Earlier, the State Bank of Vietnam allowed the BIDV, the Vietnam Bank for Foreign Trade (Vietnambank) and the Asian Commercial Joint Stock Bank (ACB) to set up representative offices in the United States.

This is being applauded by Vietnamese businesses overseas because the banks can provide them with consultancies and information on investment opportunities, services on capital arrangement, guarantees and the appraisals of partners and projects.

However, entering major markets also means facing fiercer competition, and domestic banks need to prioritise urgent issues, such as risk and the use of modern technologies if they choose to venture overseas, say experts.

Source: VNA

Source: QDND

Thailand ‘back’ after unrest, PM says on first overseas trip

In Uncategorized on June 6, 2010 at 10:18 am

HO CHI MINH CITY, June 6, 2010 (AFP) – Thailand is “back” after recent deadly unrest, Prime Minister Abhisit Vejjajiva said Sunday on his first trip abroad since the end of crippling anti-government protests.

“We are back, stable and secure,” he told the World Economic Forum on East Asia, a gathering of global business leaders and regional politicians.

Thai PM Abhisit Vejjajiva (L) speaks as Vietnamese PM Nguyen Tan Dung listens during the World Economic Forum on East Asia being held in Ho Chi Minh City on June 6, 2010. AFP PHOTO

Thai troops moved on May 19 against the fortified encampment which “Red Shirt” anti-government protesters had occupied in an upscale retail and hotel district of central Bangkok.

The move brought an end to street demonstrations and outbreaks of violence which, at their climax, turned parts of Bangkok into battlezones, left major buildings torched, and led to travel warnings from foreign governments.

Unrest also spread to the Reds’ stronghold in the impoverished northeast.

Eighty-nine people, mostly civilians, and nearly 1,900 were wounded in violent outbreaks during two months of protests.

Abhisit said he would not have been able to attend the World Economic Forum if it had been held two weeks earlier and his presence demonstrated that Thailand will “try to do our part in contributing to regional growth”.

The Association of Southeast Asian Nations (ASEAN), had earlier voiced relief that the violence had abated, following fears that it could threaten regional stability.

“Now that they have gone through that period, and stability seems to come back and reconciliation is now in progress… I think I can say that all ASEAN states heave a big sigh, that we are relieved,” secretary general Surin Pitsuwan told reporters on the sidelines of the forum.

In a rare statement about the internal affairs of a member state, ASEAN on May 21 said peace and stability in Thailand were crucial to the 10-member bloc.

The “Red Shirt” protesters, mostly urban and rural poor, were demanding an end to Abhisit’s government which they see as undemocratic.

Despite the optimistic tone he brought to the Vietnam forum, in his weekly television address at home on Sunday, he said it was too early to lift a two-month-old state of emergency in place across about one third of the country, including Bangkok, because of fears of fresh unrest.

“We have to accept that even though the situation seems to be more back to normal now, the problems of terrorism and security still exist,” Abhisit said in the television address.

Source: SGGP

Overseas production lowers S.Korean handset exports

In Uncategorized on April 8, 2010 at 11:58 am

SEOUL, April 8, 2010 (AFP) – South Korea’s top manufacturers of mobile handsets produced more units overseas than at home for the first time last year, depressing exports, a state agency reported Thursday.

In 2009 handset exports by the three local firms — Samsung, LG and Pantech-Curitel Communication — dropped 14 percent from the previous year, the National IT Industry Promotion Agency said in a report.

The agency attributed the decline in exports to the drop in the local production of mobile handsets, which in 2009 fell to 147.7 million, down 9.2 percent from a year earlier.

Overseas production rose to 207.1 million handsets, a 48.9 percent increase over the same period, the agency said, noting that it was the first time the three firms produced more handsets overseas than in South Korea

In total, the three firms produced 354.8 million handsets both at home and abroad in 2009, up 17.6 percent from a year earlier, it said.

Exports of handsets from South Korea will continue to drop as the manufacturers build more factories abroad, it said.

Samsung has handset plants in China, Vietnam, India and Brazil while LG has handset-making ventures in India and Brazil. Pantech-Curitel produces handsets in China.

Source: SGGP

Hoa Sen Goup to invest overseas

In Uncategorized on March 29, 2010 at 2:39 pm

Hoa Sen Goup to invest overseas

QĐND – Monday, March 29, 2010, 21:24 (GMT+7)

Hoa Sen Group, a Vietnamese company specialiing in steel sheet products, has just decided to for the first time pour its investment overseas, the group said on March 27th.

According to Le Phuoc Vu, CEO of the group, its representatives will go to Myanmar to sign a memorandum of understanding on a steel production project costing some US$ 300 million with the Myanmar Ministry of Industry.

Under the plan, the project is to build a plant near the country’s capital city that will make steel sheet and building materials.

At the same time, the group will open a representative office in the capital city and donate US$ 300,000 to the Myanmar National Football Squad.

According to the group’s Board of Directors, Myanmar is a potential market, and since October 2009, the group has exported its products to the country.

Source: TBKT

Translated by Thu Nguyen   

Source: QDND