Nissan: Leading Sales Growth in China Among Japanese Automakers

(VEN) - Nissan (China) Investment Co., Ltd. (NCIC) on January 10, 2011 announced its sales performance including Infiniti for the whole year of 2010: altogether 1,023,638 units sold in the China market, a 35.5 percent sales growth compared to a year before. Infiniti division sales doubled with 11,513 units sold. In the year of 2010 Nissan's sales in China became the largest over those in US and Japan.  "This has been a productive year for Nissan in China." said Takashi Nishibayashi, president of Nissan (China) Investment Co., Ltd, "With the product lineup expanding continuously and our increasing investment in China, Nissan will manage to keep our strong momentum in this booming market." Dongfeng Nissan Passenger Vehicle Company (DFL PV), under the management of Dongfeng Motor Co., Ltd. (DFL), Nissan's joint venture in China, set a record sales at 660,610 units, a 27.3 percent increase compared to the year of 2009. Zhengzhou Nissan Motor Co., Ltd. (ZNA), also under the management of … [Read more...]

Car importers look to beat road block

Local car importers are trying to continue business in the face of Circular 20/2011/TT-BCT restricting car imports. Most recently, Kars Haiphong International Company Limited, a wholly foreign owned subsidiary of Kars Motor Group in Vietnam, sent to Ministry of Industry and Trade (MoIT) a record relevant to import of less-than-nine seat Nissan automobiles made in Taiwan into Vietnam. The record carries a proxy given by Yushin Motor Company Limited, a unit having the right to distribute Nissan brand automobiles in Vietnam which is also a subsidiary of Yulon Nissan Motor Group, a legitimate manufacturer and owner of Nissan brand vehicles in Taiwan. It also contains a certification proving Kars Haiphong is a licenced automobile maintenance unit by the Vietnam Register. The company is now awaiting an official response from the MoIT about whether it could import and distribute Nissan automobiles made in Taiwan into Vietnam. Earlier in January 20, 2012 the MoIT responded to a Nghe An … [Read more...]

Hoang Huy cuts deal with Dongfeng to assemble trucks

HCMC - Haiphong-based Hoang Huy Financial Services Investment JS Co. on Thursday signed a comprehensive investment and cooperation agreement with China's Dongfeng Motor Co., Ltd in HCMC to assemble Chinese-branded trucks in Vietnam. The local company will become the sole partner in Vietnam of the Chinese vehicle manufacturer, and is authorized to import, assemble and distribute heavy trucks and dump trucks in the local market. Do Huu Ha (R), general director and chairman of Hoang Huy Co., exchanges the signed agreement with Hu Jianguo representing China's Dongfeng Motor Company - Photo: Quoc Hung In the short term, Hoang Huy will import and distribute Dongfeng's trucks from China for sale on the local market. Then, the Chinese partner will transfer technology to the local partner to assemble Dongfeng vehicles in Vietnam. Dongfeng has more than 40 years' experience in the auto industry. The company has exported its products to more than 58 countries and territories. … [Read more...]

Deputy PM Hai welcomes former Irish PM

Deputy Prime Minister Hoang Trung Hai held a reception on February 10 for a visiting delegation headed by former Irish Prime Minister John Bruton who spoke to the Vietnamese official about an investment project in the Bac Van Phong special economic zone in the central coastal province of Khanh Hoa. According to Chairman of the provincial People's Committee Nguyen Chien Thang, the province has completed a draft plan on the economic zone to propose to the Government, and has met with strategic investors with experience in developing special economic zones. Among them, ASA Holding Inc, Browrudnick, Livingston, BCG, and others have conducted studies to complete the proposal to the Government. The guest outlined the results of studies for a free trade area in Bac Van Phong and a legal framework for the establishment and operation of the free trade area. "Vietnam welcomes investment co-operation from international groups and enterprises in Vietnam on the basis of mutual benefit in … [Read more...]

Deputy PM receives former Irish PM

(VOV) -Deputy Prime Minister Hoang Trung Hai on February 10 welcomed a delegation headed by former Irish Prime Minister John Bruton who talked about an investment project in the Bac Van Phong special economic zone in the central coastal province of Khanh Hoa. Provincial People's Committee Chairman Nguyen Chien Thang said his locality has finalized a draft plan on the economic zone for submission to the Government, and met with strategic investors with special economic zone development experience. ASA Holding Inc, Browrudnick, Livingston, BCG, and others have conducted studies to complete the proposal to the Government. The Irish guest told the host about the results of study on a free trade area in Bac Van Phong and a legal framework for the establishment and operation of the free trade area. Vietnam welcomes investment co-operation from international groups and businesses for mutual benefit in line with national development planning, Deputy PM Hai said. … [Read more...]

Corporate bonds slumped in 2014

Vietnam corporations issued far fewer bonds in 2014, despite the participation of many big companies. Total value of corporate bond issues for the whole year reached about 22.922 trillion VND (1.07 billion USD), a year-on-year decrease of 33.4 percent and accounting for less than one percent of the country's GDP, according to the Ministry of Finance's Banking and Financial Institution's data. Meanwhile, government bond issues climbed 37 percent over 2013, totalling more than 248 trillion VND (11.6 billion USD) last year, equivalent to 6.24 percent of GDP. Outstanding corporate bonds were a mere 2.5 percent of GDP while the number of government bonds was 12.84 percent. Many large companies issued big bond issues, such as Vietnam National Coal Mineral Industries Group (Vinacomin), 3 trillion VND (140.2 million USD); Hoang Anh Gia Lai Co (HAG) and Masan Group (MSN), each issuing bonds worth over 2 trillion VND (93.5 million USD), Bank for Investment and Development of Vietnam … [Read more...]

Enormous potential to boost Vietnam-Slovakia co-operation

Vietnamese Ambassador Ho Dac Minh Nguyet and Slovakian State Secretary of Ministry of Foreign and European Affairs Peter Burian NDO - Vietnam and Slovakia have plenty of opportunities to increase multifaceted co-operation and bilateral relations, said Vietnamese Ambassador to Slovakia Ho Dac Minh Nguyet in an interview granted to TASR on the occasion of the two countries' 65th anniversary of diplomatic ties. Ambassador Nguyet emphasised that over the past 65 years, the traditional friendship and multifaceted co-operation between the two countries have always stood up to the rise and fall of history and have constantly been preserved, nurtured and developed. She affirmed that the Vietnamese people have always kept in mind the valuable and sincere help of Slovakian people during Vietnam's struggles for national defence and construction. The friendship is a precious asset of Vietnam and Slovakia and the solid foundation for multifaceted co-operation for mutual benefits. The … [Read more...]

Vingroup builds Hai Phong complex

Vingroup Retail Co and Hai Phong Real Estate Development and Investment Co broke ground for a commercial complex in the northern port city of Hai Phong yesterday. (Photo: VNA) Vingroup Retail Co and Hai Phong Real Estate Development and Investment Co broke ground for a commercial complex in the northern port city of Hai Phong on February 8. Located downtown on Le Thanh Tong Street, the 600 billion VND (28 million VND) project covers 48,000 sq.m. It includes shopping malls and a residential area named ‘Shop House.' It is believed that the complex will have outlets of well-known names in fashion, consumption, recreation, food and cinema. According to Vice Chairman of Vingroup, Le Khac Hiep, the Vincom Le Thanh Tong-Hai Phong complex was the company's first project in Hai Phong. He expects it to contribute to the city's economic and cultural development. Furthermore, the construction of the complex will be expedited to ensure that it is in operation this year, Hiep … [Read more...]

Bourses: Weak liquidity clouds gains

Investors watch market movements at Bao Viet Securities Co's trading floor in Ha Noi. (Photo: VNA) Shares continued to climb on February 6 on both exchanges, but concern about weak liquidity still lingers. On the HCM Stock Exchange, the VN-Index gained 7 points or 1.23 percent to close the session at 574.13 points. Investors again picked up blue chips, particularly bank, oil and gas shares, which led the market uptrend. Most bank shares rose strongly, including the Bank for Investment and Development of Vietnam (BID), up 6.1 percent; Vietcombank (VCB) and Vietinbank (CTG), up more than 3 percent; and Eximbank (EIB), up 2.3 percent. Large-cap oil and gas shares like PV Gas (GAS), PetroVietnam Drilling and Wells Service Corp (PVD) also advanced 0.8-1.3 percent. The VN30, which tracks the top 30 shares by market value and liquidity, added 0.75 percent to end at 595.69 points. Liquidity remained dry on the day with trading volume hitting a multiple-month low, declining another 20 … [Read more...]

Stocks extend four-day losses as banks slide

Investors trade at the BIDV Securities Company (BSC) trading floor in Ha Noi. (Photo: VNA) Stocks tumbled for the fourth day in a row on the two exchanges. The slump continued as investors unloaded shares in fear of liquidity drains from banking stocks. On the Hochiminh Stock Exchange, the benchmark VN-Index lost nearly 13 points, or 2.26 percent, to close the session at 557.47 points. The VN30, which tracks the top 30 shares by market value and liquidity, also decreased 2.17 percent to end at 585.47 points. The market condition was especially negative when the number of decliners nearly tripled that of advancers. Bank shares were the biggest losers. Large banks like Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG), Eximbank (EIB) and Vietcombank (VCB) plunged to just around the floor price, capped at 7 percent a day. According to many analysts, investors increased selling out to earn short profits as these shares climbed substantially in previous … [Read more...]

New securities lending limits push down stocks

Stocks sank into the red on both exchanges after Circular 36 took effect on February 2. This regulation is forecast to reduce bank lending to the securities market because it sets the lending limits for this. Earlier, some analysts said the impact of the ruling had been reflected in market development in a previous period. However, the market downturn yesterday right after the circular took effect proved that a probable impact of this regulation is a worry for investors. On the Hochiminh Stock Exchange, the benchmark VN-Index lost 0.99 percent to close the session at 570.37 points. The VN30 which tracks the top 30 shares by market value and liquidity also dropped 1.33 percent to end at 598.46 points. The market condition was negative as the decliners tripled the advancers. Liquidity waned as market volume was down 15 percent from the January 31 level, totalling just 85 million shares, while the trading value fell 20 per cent to reach nearly 1.5 trillion VND (70.1 million … [Read more...]

China’s anti-corruption drive sets off death threats and dawn raids

A pedestrian walks past the headquarters building of Founder Group in Beijing, China, Aug. 17, 2013. Frozen Chinese bank accounts. Top executives taken in for questioning. Reports of death threats and pre-dawn clashes between armed body guards and police in Beijing. That’s the fallout from a corporate feud playing out in Chinese press and social media for the past two months. On one side is Peking University Founder Group, a state-owned company that partnered with Credit Suisse Group AG (CSGN) in a separate securities joint venture whose chairman has disappeared. On the other side is a billionaire real estate developer and his company, Beijing Zenith Holdings Co. The fight originates from a business dispute at their jointly owned Founder Securities Co. (601901), China’s sixth-largest listed brokerage with a market value of $12.4 billion. Founder acquired Zenith’s China Minzu Securities Co. with stock, making the property firm into Founder Securities’ … [Read more...]

Local stocks rally after ECB announces stimulus

Investors follow transactions at VNDirect Securities Company in Ha Noi. (Photo:VNA) Stocks climbed more quickly towards the end of January 23's session, boosted by improvement in investor confidence after the European Central Bank announced a big bond-buying programme worth up to one trillion euros (1.16 trillion USD). In line with strong rises in global stocks, Vietnamese markets also opened high after the news. On the Ho Chi Minh Stock Exchange, the VN-Index added another 1.36 percent to close at 582.38 points, while the VN30, which tracks the top 30 shares by market value and liquidity, increased by 0.79 percent to end at 615.16 points. Bank shares continued to provide momentum, as most of them added between 1.4 and 4.2 per cent, including Eximbank (EIB), Vietinbank (CTG), Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID) and Military Bank (MBB). MBB was also the most active code, trading 7.6 million shares and rising 1.4 percent to close at 14,600 VND … [Read more...]

Bank shares, low petrol prices buoy markets

Stocks maintained rises in the afternoon of January 22, sustained by bank shares, as prices fell to an attractive level after a four-day slump. On the Hochiminh Stock Exchange, the VN-Index closed yesterday's session at 574.54 points as advancers outnumbered decliners by 120-94. The other 94 stocks closed flat. The market was upbeat due to the reduction in petrol prices announced late on January 21. The performance of businesses is expected to improve as input costs fall substantially. Bank shares led the upturn on January 22 as Vietinbank (CTG) and Bank for Investment and Development of Vietnam (BID) hit their ceiling prices, capped at 7 percent a day. Other blue chips like Eximbank (EIB), Sacombank (STB), Military Bank (MBB) and Vietcombank (VCB) also gained 1.6-3.6 percent. These shares were also among the most active stocks with 2-6 million shares exchanged on each code. The VN30, which tracks the top 30 shares by market value and liquidity, edged up 0.62 percent to end at … [Read more...]

Selling pressure hampers growth on HCM City exchange

Rising selling pressure in the afternoon restrained the market uptrend on the Hochiminh Stock Exchange on January 20 as investors sat on the sidelines awaiting a clearer market outlook. The benchmark VN-Index inched up 0.12 percent to close the session at 572.22 points but the market condition was negative with 103 stocks declining, 100 increasing and 105 ending flat. Reduced cash flow in the market showed in drops in both market volume and value. Almost 80 million shares worth 1.5 trillion VND (70 million USD) were traded by the end of the session, down 10 percent compared with the January 19 level. The rally of several large-cap stocks like PV Gas (GAS), Vietcombank (VCB), Vinamilk (VNM), Bao Viet Holdings (BVH), Phu My Fertiliser (DPM) and Hoa Phat Group (HPG) kept the market afloat by the day's end. On the other end of the spectrum, Vietinbank (CTG), Eximbank (EIB), BIDV (BID), Sacombank (STB) and PetroVietnam Drilling and Wells Service Corp (PVD) all plunged, pulling the … [Read more...]

Stocks retreat on investor caution

Investors watch electronics trading boards at VPBank Securities in Ha Noi. Photo: VNA Stocks failed to hold gains on January 19 as investors stayed cautious ahead of the 2014 earnings report for listed companies and probable risks from Circular 36, which is expected to restrain lending for stock investments. On the Hochiminh Stock Exchange, the benchmark VN-Index lost more than 3 points, or 0.57 percent, closing the January 19 session at 571.51 points. Blue chips led the downturn as over half of the top 30 shares by market value and liquidity declined with the VN30 down 0.5 percent to end at 611.64 points. Phu My Fertiliser (DPM) was the biggest loser, down 5.3 percent and finishing at 30,600 VND (1.43 USD) a share. Other large-cap shares like Vietcombank (VCB), Hoang Anh Gia Lai Co (HAG), Bao Viet Holdings (BVH), Saigon Securities Inc (SSI) and FPT Corp (FPT) also slumped between 0.6 and 2.5 percent. Liquidity was low, with the market volume reaching just 88.4 million shares … [Read more...]

Vietnam, Denmark boost trade, investment co-operation

Vietnamese Minister of Planning and Investment Bui Quang Vinh and Danish Minister for Trade and Development Co-operation Mogens Jensen chair the meeting. (Credit: VGP) NDO - Within the framework of the Vietnam-Denmark Comprehensive Partnership Action Plan, the fourth meeting of the Joint-Governmental Committee between the two countries was convened in Hanoi on January 19. Vietnamese Minister of Planning and Investment Bui Quang Vinh and Danish Minister for Trade and Development Co-operation Mogens Jensen noted the rapid development of bilateral economic and trade co-operation, especially since the two countries became comprehensive partners in 2013 and signed a specific action plan in 2014. Besides the achievements, the two sides stated shortcomings to remedy in the future through measures to enhance roles and responsibilities of governmental agencies and businesses. In addition, the two sides will continue to build an effective communication mechanism to promptly address … [Read more...]

Developing friendly neighbourly relations, shared wish of Chinese, Vietnamese people

Chinese ambassador to Vietnam Hong Xiaoyong NDO – On the occasion of the 65th anniversary of the establishement of diplomatic relations between Vietnam and China (January 18, 1950-2015), Chinese ambassador to Vietnam Hong Xiaoyong granted Nhan Dan newspaper an interview about bilateral ties. Followed is the interview’s content. Reporter: It has been 65 years since Vietnam-China diplomatic relations were officially established on January 18, 1950. Nurtured by President Ho Chi Minh and President Mao Zedong together with generations of the two countries’ leaders, the friendship has become a valuable asset of the two nations. What do you think about this valuable asset of the two Parties, two States and two nations? Ambassador Hong: China and Vietnam are two friendly neighbours whose mountains and rivers are shared, and the friendship between the two countries’ people has been time-treasured. Presidents Mao Zedong and Ho Chi Minh set up the China-Vietnam … [Read more...]

VietinBank subsidiary to be established in Laos

The Vietinbank branch in Laos will be upgraded to a subsidiary with charter capital of US$50 million. NDO – The State Bank of Vietnam (SBV) issued Document No. 216/NHNN-TTGSNH on January 13, allowing the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) to upgrade its branch in Laos to a subsidiary wholly owned by VietinBank. The new bank, located in Chanthabouly district, Vientiane, will be named ‘VietinBank (Lao) Limited’, holding charter capital of US$50 million. VietinBank is obliged to complete the opening of the Lao subsidiary’s operations within 24 months of the SBV’s approval. The upgrading of the VietinBank branch in Laos to a subsidiary is part of VietinBank’s overseas network expansion strategy in key economic hubs of the countries and territories with potential for economic, trade and investment co-operation with Vietnam. VietinBank opened its Lao branch on February 9, 2012. After over two years in … [Read more...]

Bank shares climb on dong depreciation

Bank shares continued to rise on January 7 after the State Bank increased the US dollar exchange rate by 1 percent from 21,246 VND per dollar to 21,458 VND, boosting both bourses. On the Ho Chi Minh Stock Exchange, shares of banks such as Vietinbank (CTG), Eximbank (EIB), Military Bank (MBB), Sacombank (STB) and the Bank for Investment Development of Vietnam (BIDV) rose between 0.6 and 3 percent. Vietcombank (VCB), which lost 1.2 percent, was the exception. Saigon-Hanoi Bank (SHB) and Asia Commercial Bank (ACB) also climbed more than 1 percent on the Hanoi Stock Exchange. The forex adjustment did not surprise the market, as many experts and organisations had predicted the central bank would depreciate the Vietnamese dong in the first quarter of this year. Many banks on January 6 also unexpectedly raised their forex rate to the ceiling. Last month, the central bank confirmed it would not let the value of the dong depreciate by more than 2 percent this year. In Ho Chi Minh … [Read more...]