Food, beverage trade fair opens
HCM CITY — The Vietfood and Beverage 2010 Fair will be held at Tan Binh Exhibition and Convention Centre in HCM City from tomorrow until the end of the week.
The 7,000sq.m exhibition will house 252 stalls introducing agricultural products, seafood, dairy products and processed food and drink.
The exhibition is expected to attract enterprises from 12 countries and territories, including Australia, Taiwan, Germany, South Korea, mainland China and Japan.
Gia Dinh Bank to raise capital
HA NOI — The State Bank of Viet Nam has approved Gia Dinh Bank's plan to raise its charter capital to VND3 trillion (US$153.84 million) from VND1 trillion ($51.28 million).
The bank is in the process of completing the necessary legal procedures for the sale, which is expected to take place by November.
VP5 trade centre gets go-ahead
HA NOI — Thanh Nam Construction and Investment Joint Stock Co plans to invest VND700 billion (US$35.89 million) in building the VP5 trade centre and high-end office complex on the capital's Linh Dam Peninsula.
The complex will occupy an area of 29,373sq.m and have 29 stories.
The project is expected to break ground in the fourth quarter of this year and be finished in the first half of 2013.
Steel plant completes first phase
THAI BINH — The first phase of Shengli Viet Nam Special Steel Co Ltd was inaugurated last Sunday in the northern province of Thai Binh.
The first phase, which carries a total investment of US$53 million, will be able to produce 600,000 tonnes of steel per year.
Shengli Viet Nam Special Steel Co Ltd is a wholly Chinese-owned company invested by the Shengli (Fuzhou) Group and Guangdong Metals and Minerals&Export Corporation.
Viglacera project breaks ground
HA TINH — Viglacera Corporation yesterday broke ground on the Viglacera Can Loc building materials project at Can Loc Industrial Zone in the central province of Ha Tinh.
The project includes a brick tile production plant, a granite exploitation and processing facility and a ceramic tile production unit.
The plants will be equipped with modern production lines and serve domestic and Southeast Asian markets.
Cave make-over continues
QUANG BINH — The first stage of work on Thien Duong Cave in the central province of Quang Binh will be completed this month.
Truong Thinh Corp has invested a total of VND98.41 billion (US$5.04 million) in developing the cave for tourism. Of that, VND65.41 billion ($3.35 million) was invested in the first phase, while the remaining VND33 billion ($1.69 million) will go on the second phase, which is due to be completed by the end of the year. The cave is about 30km from Phong Nha Cave and 5km west of the Ho Chi Minh Highway.
Vietnam Airlines discounts prices
HA NOI — Vietnam Airlines plans to discount air tickets on domestic flights by up to 50 per cent.
Single tickets will cost between VND400,000 (US$20.51) and VND860,000 ($41.10) per flight, not including taxes and other fees.
The promotion runs from September 9 to October 30.
Manulife Viet Nam reports profits
HCM City — Manulife Viet Nam continued to experience significant sales growth in the second quarter of this year, reaching VND195 billion (US$10 million).
The growth represents an increase of 46 per cent in comparison with the same period last year.
Total premiums and deposits rose to VND666.4 billion in the first half of the year, an increase of 18 per cent against the same period in 2009. The Manpower Agency experienced a record second quarter with 3,000 agents recruited for a total force of more than 8,400 agents by quarter's end, an increase of 51 per cent against the same period last year.
Total assets under management grew by 11 per cent year-to-date. — VNS