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...]

A road in Tinh Phong IZ approved to build at 36 b VND

A road No.3 in Tinh Phong Industrial Zone has been approved to be built at a capital of 36 billion VND. ​ The construction is approved to kick off in 2015 by Quang Ngai Trade, Construction, Investment Co., Ltd. Tinh Phong Industrial Zone, locating near by the National Highway and VSIP-Quang Ngai, is hub of medium and small-scale enterprises, processing construction materials, agro-fishery-forest products, mechanical components, transport equipment, consumer goods and packaging factories producing goods for export. Tinh Phong is a member of provincial key industrial zones. They has so far lured 92 projects with registered capital of 6,500 billion VND, creating job opportunities for 14,400 workers. Of which, there are 8 FDI projects with investment of 66 million USD. Minh Chau ​ … [Read more...]

VN-Index flat as blue chips slide

Investors at Saigon Securities Inc (SSI). The VN-Index closed almost flat by the end of yesterday's session. (Photo: VNA) The VN-Index closed almost flat at 568.32 points at the end of the April 17 session, erasing early gains. This was caused by unexpected declines of several large-cap shares. PV Gas (GAS), the biggest stock in terms of market capitalisation on the Hochiminh Stock Exchange, fell 1.48 percent after rising 0.74 percent. The company estimated that its revenue this year could drop by 20 percent and profits drop by 30 percent compared with yearly forecasts if crude oil prices were about 60 USD a barrel. (GAS business plans were based on the assumption that oil prices would be around 100 USD a barrel). According to analysts at FPT Securities Co, this fall could be the result of profit-taking pressure after solid gains in past sessions. However, as 12 of the top 30 shares by market value and liquidity on the exchanges gained value, the VN30 also ended 0.68 percent … [Read more...]

Bank stocks buoy VN-Index

The market condition was positive on the Hochiminh Stock Exchange as advancers outnumbered decliners by 105-85 and 118 stocks went flat (Photo: stox) Following oil and gas companies, bank stocks rose strongly on April 16’s afternoon, pushing the VN-Index up another 0.67 percent to close the session at 568.28 points. The market condition was positive on the Hochiminh Stock Exchange as advancers outnumbered decliners by 105-85 and 118 stocks went flat. Bank shares were the biggest gainers in the afternoon session with most large-cap lenders gaining value, including Vietcombank (VCB), Bank for Investment and Development of Viet Nam (BID), Vietinbank (CTG) and Sacombank (STB). PetroVietnam Drilling and Wells Service Corp (PVD) continued its uptrend, hitting the ceiling price for the second day. PV Gas (GAS) retreated to the reference price by the end of the session. Blue chips maintained the market momentum with 19 stocks of the top 30 shares by market value and liquidity. … [Read more...]

Poland to boost co-operation with Vietnam

A Polish company introducing its products to Vietnamese businesses' representatives. (Credit: VNA) NDO/VNA – Poland is looking to foster co-operation with Vietnam in advantageous fields such as mining, food, green and advanced technologies, and chemicals, said Polish Deputy Minister of Economy Grazyna Henclewska. At a conference on investment co-operation opportunities for the two countries’ enterprises on April 14 in Hanoi, the Deputy Minister shared that as Europe’s sixth largest economy, Poland is continually expanding its investment and increasing high-quality product exports to potential markets, including Southeast Asia and Vietnam. Polish Ambassador to Vietnam Barbara Szymanowska hailed the significance of the event as a chance to open up co-operation opportunities. According to Deputy Head of the Ministry of Industry and Trade’s Department for European Market Duong Hoang Minh, bilateral trade reached US$660.6 million in 2014, up 32.2% from the … [Read more...]

Vietnam, China emphasise fostering stronger relations, political trust

Party General Secretary Nguyen Phu Trong met Chinese Premier Li Keqiang and Chairman of the Standing Committee of the National People's Congress (NPC), Zhang Dejiang, in Beijing yesterday. Party General Secretary Nguyen Phu Trong (left) meets Chinese Prime Minister Li Keqiang in Beijing as part of his official visit to China. — VNA/VNS Photo Tri Dung Trong said Viet Nam treasured its friendship and co-operation with China. He congratulated China on its important socio-economic achievements, saying that Viet Nam highly appreciated its significant assistance during its struggle for national liberation and building socialism. Trong briefed Premier Li on the outcomes of his talks with General Secretary of the Communist Party of China and President Xi Jinping. He called on the two Governments to provide full and effective implementation of agreements and common perceptions between leaders of the two Parties and States to enhance strategic co-operation. Premier Li congratulated … [Read more...]

Algerian ambassador considers economic ties a priority

PM Nguyen Tan Dung welcomes new Ambassador of Algeria Mohamed Berrah in Hanoi on April 6. (Image credit: VGP) NDO/VNA – New Ambassador of Algeria Mohamed Berrah has said the strengthening of bilateral economic, trade and investment co-operation with a focus on fisheries and infrastructure is the top priority of his tenure in Vietnam. Meeting Prime Minister Nguyen Tan Dung in Hanoi on April 6, the Ambassador proposed holding business forums, trade fairs and cultural weeks to popularise their respective countries among their peoples. He said Algeria would invite Vietnam as a guest of honour at the 2016 Algiers International Fair, a prestigious event bringing together numerous countries. Algeria is willing to be a gateway for Vietnam to enter the African market, he emphasised. The ambassador advocated mutual support at international forums and organisations for the sake of peace, stability, co-operation and development in the region and the world, as well as the settlement … [Read more...]

Shares rise as liquidity worries investors

Data displayed at the PVS stock trading centre. Market share values rose yesterday but decreasing trading volume remained a concern for investors.(Photo: VNA/VNS) Shares extended rallies on both bourses on April 3 but draining liquidity remained a big concern for investors. On the HCM City Stock Exchange, the VN-Index inched up 0.18 percent to close at 547.85 points as the advancers slightly edged the decliners 111-96 while other 101 stocks went flat. Purchasing power was weak, pushing the market volume down another 10 percent compared with April 2's level, totaling nearly 71 million shares, while the value of trades dropped 20 percent to reach 1.05 trillion VND (49.1 million USD). FLC Group (FLC), a member of the VN30 basket, was the most active code with 12.6 million shares, traded at the unchanged price of 10,600 VND (0.50 USD) a share. Money continued to flow into blue chips with good fundamentals. Biggest gainers included PetroVietnam Drilling and Wells Service Corp … [Read more...]

Both bourses pick up after blue chip recovery

On the HCM Stock Exchange, the VN-Index rose nearly 8 points to close the session at 546.85 points. (Photo: stox) Stocks advanced steadily April 2 afternoon, fuelled by a strong blue chip recovery. On the Hochiminh Stock Exchange, the VN-Index rose nearly 8 points to close the session at 546.85 points. The VN30, which tracks the top 30 shares by market value and liquidity, added 1.17 percent to end at 576.13 points. Blue chips led market gains, with 19 stocks in the VN30 gaining over 1 percent, while the other 11 jumped more than 2 percent. Financial and banking stocks were the biggest gainers. Insurer Bao Viet Holdings (BVH) and Ocean Group (OGC) hit their ceiling prices, while lenders BIDV (BID) and Vietinbank (CTG) rose 3.5 percent and 2.9 percent, respectively. However, waning liquidity continued to be a major concern which could prevent the market from a stable uptrend. Both market volume and value declined 30 percent from the previous session, totalling just 90 million … [Read more...]

Shares continue their downward spiral

The VN-Index saw its biggest loss in three months, hitting a 2015 low at 538.91 points on April 1, a 2.22 percent drop from the previous day as investors increased selling for fear of a further decline. Ho Chi Minh City's market condition was negative as losers outweighed gainers by 198-38, while 72 ended flat. Blue chips led the downturn, particularly in oil and gas shares. PV Gas (GAS), the biggest stock in terms of market value, dived six percent. PetroVietnam Drilling and Wells Service Corp (PVD) plunged by more than four percent. Other oil stocks - PVC Petro Capital & Infrastructure Investment (PTL), IDICO Petroleum Trading Construction Investment (PXL) and Petroleum Equipment Assembly & Metal Structure (PXS) - lost between 4-6 percent each. Bank shares, which were previously building momentum in the market, lost their shine as large-cap stocks like Military Bank (MBB), Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG) and Eximbank (EIB) … [Read more...]

Government News 1/4

Global gathering helps to forge parliamentary ties Party General Secretary Nguyen Phu Trong has called for the US to continue its support in dealing with the consequences of war, especially Agent Orange victims, bomb and mine clearance, and sharing information on Vietnamese soldiers and officers missing in action. The Party chief said this was important for deepening trust between the two sides. He was speaking at a reception for Minority Leader of the US House of Representatives, Nancy Pelosi, and accompanying congressmen in Ha Noi yesterday. Pelosi said she was happy to visit when the two countries were celebrating the 20th anniversary of diplomatic ties. She said it was good to see the impressive developments made by Viet Nam as well as the country's growing position on the regional and global stages. Pelosi said Republicans and Democrats in the US congress all backed the US administration's policy of bolstering ties with Viet Nam and stepping up the implementation of the … [Read more...]

Stocks rise on foreign inflows

Shares rose more strongly in the afternoon session of March 20, driven by inflows from foreign investors. March 20 was the last day for the Market Vectors Vietnam (VNM) exchange-traded fund to conclude its portfolio review. The two newly added shares in its portfolio, Kinh Bac City Development Holding Corp (KBC) and confectionery Kinh Do Corp (KBC), were the most heavily traded codes in foreign trading. The foreign sector turned heads to be net sellers on the Hochiminh Stock Exchange. They picked up shares worth more than 213 billion VND (nearly 10 million USD), an impressive improvement compared with the net sell value of nearly 222 billion VND (10.4 million USD) seen on the previous day. In HCM City, the benchmark VN-Index edged up 0.3 percent to close at 575.44 points, while the VN30, which tracks the top 30 shares by market value and liquidity, gained 0.41 percent to stand at 603.76 points. Increased trading by foreign investors also pushed up liquidity. The market volume … [Read more...]

VN-Index retreats as investor pessimism takes hold

On the HCM City Stock Exchange, the VN-Index retreated below 580 points, losing 0.53 per cent to close the session at 578.68 points (Photo: pda) Increased selling pressure hit investor sentiment on March 18, dragging down shares on both national stock exchanges. On the Hochiminh Stock Exchange, the VN-Index retreated below 580 points, losing 0.53 percent to close the session at 578.68 points. Market conditions were negative, with 117 shares falling, 89 shares rising and 102 shares staying flat. According to many analysts, the VN-Index falling below 580 points could cause investor pessimism that could push the market down further. Selling pressure is also rising, driven by negative information including hikes in petrol and electricity prices, and forex rates. Increases were seen in most penny and mid-cap shares while blue chips dived. The biggest stock in terms of market capitalisation, PV Gas (GAS), decreased 1.3 percent to end at 76,000 VND (3.55 USD). The VN30, which … [Read more...]

VPBank may become big shareholder at CICT

Lan Nhi Vinalines has submitted the proposal to the Ministry of Transport as it owes huge debt and is unable to contribute more capital to maintain the operations of CICT. The first deepwater terminal in the north has suffered huge losses. Earlier this month, the Ministry of Transport called a meeting to find ways to solve problems at CICT, the joint venture between Cai Lan Port Investment Co. (CPI) with a 51% stake and SSA of the U.S. and other partners. Vinalines holds a 51% stake at CPI. The project has a total investment of US$155.3 million and Vinalines holds a 51% stake at CPI. Since its inauguration two years ago, CICT has been running at only 20% capacity for Phase 1 (520,000 TEUs per year) due to low cargo throughput and higher fees than other terminals, especially Haiphong Port. Big shipping lines have visited CICT less as it is located at an inconvenient site. Moreover, the Baltic Dry Index (BDI) has continuously fallen, at around 560 points this month, and is not … [Read more...]

Positively grasping opportunities brought by multi-lateral agreements

A project aiming to elevate the economic value of dragon fruits is notable in the Vietnam-New Zealand agricultural co-operation. (Credit: tgvn.com.vn) NDO – Joining negotiations for the Regional Comprehensive Economic Partnership (RCEP) and the Trans-Pacific Partnership (TPP) not only brings enormous economic interests to member countries, but also deepens trade ties between Vietnam, Australia and New Zealand. Highlights in agricultural co-operation At a press briefing in February launching the 40th anniversary of the establishment of diplomatic relations between New Zealand and Vietnam, New Zealand ambassador to Vietnam Haike Manning affirmed that many products from New Zealand, such as milk, apples, kiwifruits and wines, can be found in many supermarkets and retail outlets in Vietnam while the oceanic consumers are gradually becoming more aware of Vietnam’s farm products, including coffee, pepper, cashew nuts and tropical fruits. It can be said that agricultural … [Read more...]

Stocks rebound as blue chips rally

A broker watches market movements at Technology FPT Group's trading floor in Ha Noi. The VN-Index rebounded from a one-month low yesterday. (Photo: VNS/VNA) The VN-Index rebounded from a one-month low as blue chips rallied on March 17. On the Hochiminh Stock Exchange, the Index edged up 0.17 percent to close the session at 581.76 points. The VN30, which tracks the top 30 shares by market value and liquidity, rose 0.1 percent to end at 611.24 points. The market slumped on March 16 under selling pressure from Market Vectors Vietnam, an exchange-traded fund which is conducting its portfolio reviews this week. Nonetheless, increased trading by risk-taking investors supported the market. "The likelihood of a steep fall on the market is very small. In our opinion, demand will increase in the coming sessions when the VN-Index fluctuates around 575 points," analysts at Sacombank Securities Co said in a note. Increases were seen in large-cap stocks on March 17, including Vietcombank … [Read more...]

Stocks slump in afternoon session on ETF reviews

Shares extended losses in the afternoon session of March 16 as investors sold off blue chips. Analysts said portfolio reviews by exchange-traded funds (ETFs) this week will impact market movement, with investors likely to offload shares that ETFs will remove from their baskets. On the Hochiminh Stock Exchange, the benchmark VN-Index fell 0.9 percent to close the session at 580.80 points, while the VN30, which tracks the top 30 shares by market value and liquidity, shed 1.02 percent to end at 610.63 points. Kinh Bac City Development Holdings Corp (KBC) and confectionery Kinh Do Corp (KDC) were among the most heavily-traded stocks following information that Market Vectors Vietnam ETF (VNM) added these two stocks to its portfolio. FLC Group (FLC) remained the most active code with the trading of 18.1 million shares. VNM ETF also increased purchases of FLC Group, pushing the share price up 2.52 percent to 12,200 VND (0.57 USD) a share. On the other side of the fence, shares … [Read more...]

March 9-15: First fuel price hike of the year

The latest petrol price adjustment ends nine consecutive months of price drops. NDO – Following are several notable events that made headline over the past week selected by Nhan Dan Online: Domestic petrol prices shoot up by over VND1,600 per litre The Vietnam National Petroleum Group (Petrolimex), the country’s largest fuel wholesaler, raised the retail price of several fuel varieties as of 15:00 pm on March 11, the second adjustment and the first rise this year. Accordingly, the prices of petrol RON95 and petrol RON92 jumped VND1,610 per litre to VND17,880 and VND17,280 per litre, respectively, while bio-fuel E5 price increased by VND1,600 per litre to VND16,950. The prices of kerosene and diesel also increased by VND900 and VND700 per litre respectively while a litre of mazut rose by VND900 a kilogram. NA Standing Committee convenes 36th session The 13th National Assembly (NA) Standing Committee convened its 36th session on March 9 with a special focus on … [Read more...]