HA NOI — Singapore Technologies Telemedia and VNPT Global announced a strategic partnership yesterday at a ceremony in Ha Noi.

ST Telemedia has bought 10 per cent of VNPT Global to benefit their mutual goal of investing in growing telecommunications industry companies. It will raise their capability of accessing telecommunications opportunities.

VNPT Global will also be able to tap the other's diverse investment and operational experience, expertise and best practices in mature and emerging markets.

The share subscription agreement was signed in January.

ST Telemedia is an IT company with global operations and VNPT Global is a subsidiary of the Viet Nam Post and Telecommunications Group.

Oriental Commercial Bank to buy Diebold ATMs

HCM CITY—The joint-stock Oriental Commercial Bank signed a co-operation memorandum of understanding on Wednesday with the group Diebold, one of the world's leading automatic teller machine (ATM) providers.

Under the document, the bank will buy Diebold's ATMs this year.

The bank has no ATMs of its own and its cardholders are using ATMs from the Smartlink network, an alliance of around 20 banks with 2,500 ATMs.

OCB plans to increase in 2010 its branches and transaction offices to 100 from the current 72, with 50 equipped with an ATM. The figure is expected to rise to 300 within five years.

Soc Son breaks ground on new multi-purpose facility

HA NOI — The Ha Noi Sports and Entertainment Services Investment JSC organised a groundbreaking ceremony for a sport, entertainment and golf course complex in Soc Son District, Ha Noi on Tuesday.

The project covers 284ha with a total investment capital of US$100 million.

The complex will provide recreation services, hotels, restaurants, villas, an eco-park and an international-standard 18-hole golf course. It's one of the few privately-funded projects listed as a key work to celebrate the 1,000th anniversary of Thang Long – Ha Noi, to be held in October this year.

Viet Nam Ovi Cables company expands

BINH DUONG — The Viet Nam Ovi Cables Co began construction on its second electrical cable production factory in the southern province of Binh Duong on Tuesday, with a total investment capital of US$10 million.

Covering 5ha, the new factory will be operational in 2011. The products will both be distributed in Viet Nam and exported to other countries.

The first factory is located at My Phuoc 2 Industrial Zone in Binh Duong Province. Viet Nam Ovi Cables is a subsidiary company of Olympic Cables of Malaysian PJ Development Holding Berhard. — VNS