Garment group to invest in technology
HA NOI — The Viet Nam National Textile and Garment Group plans to invest US$58.5 million in improving technology to increase production.
The investment will help the textile and garment industry reach its export target of $10.5 billion and to increase production this year by 12 per cent.
Border trade fair calls for entries
HA NOI — Nearly 250 Vietnamese enterprises will take part in the Viet Nam-China Border Trade Fair to be held in Hekou, Yunnan Province, from November 26-30.
The fair will accommodate 800-1,000 stalls showcasing agro products, machines, electronics, chemicals, building materials, home appliances, handicraft and other services. The fair is the largest in10 years.
Bank targets $77m wood industry loans
HA NOI — Viet Nam International Bank has put aside VND1.5 trillion (US$76.9 million) for loans to wood industry firms.
The enterprises can borrow the money under a letter of credit without security deposits. The bank will also provide free information about domestic wood industry.
Agreement on pay-TV programmes signed
Ha Noi — Viet Nam Satellite Digital Television and FPT Telecom have signed a framework agreement on the distribution of K+ pay-TV programmes.
The agreement requires approval from the Ministry of Information and Communications. FPT Telecom is the first to sign an agreement to provide K+ channels. The K+ dish pay-TV platform will broadcast nearly 60 channels dedicated to entertainment, movies and sports. VSTV is the first broadcasting joint venture between the VTV/VCTV and Canal+/Canal Overseas of France.
Licence granted for $12m garment factory
THANH HOA — A licence has been granted to South Korean company Sae-A to build a US$12 million Winners Vina garment factory in the central province of Thanh Hoa.
Construction of the 80,000sq m factory will begin in October.
It will have a design capacity of 7 million tonnes a year in the first phase. The second phase, will be in operation by August, 2014, will bring capacity to 12 million tonnes.
Villas to be built in Binh Thuan
BINH THUAN — Dai Thanh Quang Ltd Co turned the first sod on its Legend Sea project in the central coastal province of Binh Thuan.
The VND11 trillion (US$579 million) project will be built on 278ha and include a hotel, resort, mini golf course, high-end villas and other marine services.
Urban project to begin development this year
QUANG NINH — Minh Viet Investment Corporation introduced a model of the offices and housing in its extended urban area, Bayview Towers, to begin development this year.
The US$140 million project covers area of 0.75ha and will include a trade centre and 518 high-end apartments to be completed by 2012. — VNS