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...]

Vietnam attends economic integration seminar in Argentina

(VOVworld) – Investment and trade opportunities in Vietnam were outlined at a seminar hosted by the Centre for Economy and International Commerce in Buenos Aires, Argentina. The seminar was held by the Centre for Economy and International Commerce in Buenos Aires, Argentina, May 21, 2015. (Photo: VNA) The representative of the Vietnamese Commercial Affairs mission to Argentina gave seminar participants an overview of Vietnam’s economic policies and global integration as well as the Vietnamese government’s incentives for foreign investors. Ambassador Felipe Frydman, who has worked in several ASEAN countries, lauded Vietnam’s economic achievements during its global integration, highlighting the potential for trade and investment co-operation between Argentina and ASEAN countries like Vietnam. … [Read more...]

Strong investment pushes shares up

Increased buying power in the afternoon of May 21 kept shares buoyant at the end of the session. The markets extended gains for the second day after seeing the biggest daily growth in many months on May 20. On the Hochiminh Stock Exchange, the VN-Index added another 0.45 percent to close yesterday's session at 552.56 points and the VN30, which tracks the top 30 shares by market value and liquidity, added 1.1 percent to end at 578.64 points. News of a 6 cent-hike in fuel prices on late May 20 had a negative impact on the morning session, but strong investment in the afternoon revived investor optimism. Overall, the market condition was positive with 130 stocks rising, 81 falling and 92 going flat. Oil and gas companies performed well with most shares - PetroVietnam Drilling and Wells Service (PVD), Petroleum Equipment Assembly & Metal Structure (PXS), PetroVietnam Technical Services (PVS), PetroVietnam Drilling Mud (PVC) and PetroViet Nam Coating (PVB) - expanding between … [Read more...]

Markets soar on strong investment

The national stock market yesterday improved on both bourses, as investment flowed strongly and many shares hit their ceiling prices (Photo: VNA) Markets exploded on May 20 as traders invested in strong numbers on the two exchanges, lifting both indices and liquidity. On the Ho Chi Minh Stock Exchange, the VN-Index soared 2.47 percent, adding over 13 points to close the session at 550.10 points. The VN30, which tracks the top 30 shares by market value and liquidity, rose 2.86 percent to end at 572.34 points. Shares performed well with many hitting their ceiling price. The number of advancers overwhelmed decliners by 207-39, and only 57 stocks went flat. Liquidity grew substantially. Both market volume and value climbed over 35 percent from Tuesday's levels, totaling at 129 million shares worth 1.79 trillion VND (82.5 million USD) by the end of the session. Three stocks had trades of more than 10 million shares on the day - Ocean Group (OGC), HCM City Infrastructure Investment … [Read more...]

Indices dive on heavy sell-offs

Illustrative photo. (Photo: VNA) Shares continued to plunge on May 18 despite net buys by foreign investors. On the Hochiminh Stock Exchange, the VN-Index dived 1.58 percent to close the session at 528.95 points as the decliners overwhelmed the advancers by 199-37. Other 67 stocks ended flat. The VN30 which tracks the top 30 shares by market value and liquidity was down 1.6 percent to end at 552.90 points. Low valuation also attracted bargain investors, pushing up liquidity. Both market volume and liquidity climbed 40 percent above the previous session's levels, totalling 105.4 million shares worth almost 1.553 trillion VND (71.6 million USD). FLC Group (FLC) concluded the session as the most active code with whopping trades of 16.7 million shares. However, its price slumped 3.3 percent to finish at 9,100 VND a share. On the Hanoi Stock Exchange, the HNX-Index dropped by a more substantial 2.17 percent to end the session at 76.51 points. The market condition was also … [Read more...]

Warm ties propel Czech investors

Vietnam was a safe and attractive destination for foreign investors and international tourists, President Truong Tan Sang told a Vietnam Economy-Tourism Co-operation Forum in Prague on Monday. President Truong Tan Sang (right) meets with Chairman of the Communist Party of the Czech Republic, Moravia Vojtěch Filip, in Prague. - VNA/VNS Photo Nguyen Khang The event, which was organised by the Chambers of Commerce and Industry from Vietnam, the Czech Republic and Slovakia, was also attended by Czech President Miloš Zeman. Addressing an audience of 500 companies from Viet Nam, the Czech Republic, Slovakia, Poland and Hungary, President Sang said several bilateral and multilateral trade agreements, including the European Union-Vietnam Free Trade Agreement, were expected to be signed between Vietnam and other nations in the near future. Sang said this would lay the foundation for promoting trade, investment and tourism activities between Vietnam and other countries in the region and the … [Read more...]

Vietnamese, Russian presidents agree to extend bilateral relations

President Truong Tan Sang and Russian President Vladimir Putin committed to strengthening their bilateral comprehensive strategic partnership during talks in Moscow on Saturday. Both leaders agreed to deepen joint national defence and security collaboration with an initial focus on personnel and technical training. — VNA/VNS Photo Nguyen Khang President Sang thanked the host for his invitation to attend the 70th anniversary of the Russian victory in the Great Patriotic War, which he said motivated and laid the groundwork for independence struggles across Asia, Africa and Latin America. Both sides expressed their satisfaction with all-level visits to foster mutual political trust between the two nations, and agreed to maintain the current mechanism. Economically, they agreed that the signing of a free trade area agreement between Vietnam and the Eurasian Economic Community later this May would help lift Vietnam -Russia trade to US$10 billion by 2020. Speaking highly of oil … [Read more...]

May 4-10: Party Central Committee convenes 11th conference

The conference opens in Hanoi on May 4. (Credit: VNA) NDO - Nhan Dan Online reviews several notable events that made the headlines in the past week. 1. Party Central Committee convenes 11th conference The 11th conference of the 11th tenure Party Central Committee (PCC) took place in Hanoi from May 4-7 under the chairmanship of Party General Secretary Nguyen Phu Trong. The PCC discussed a human resources plan for the 12th tenure PCC; the number and allocation of delegates to attend the 12th national Party congress; a local authority organisation model; a project on building the Long Thanh International Airport; and a report on the Politburo’s performance after the 10th conference. 2. President attends Russia’s victory parade in Moscow Russia’s Victory parade in Red Square, Moscow on May 9 (Photo: VNA) President Truong Tan Sang joined leaders of various countries and international organisations in a victory parade commemorating Russia’s historical … [Read more...]

Blue chips hold back market growth

The number of advancing stocks outnumbered that of declining ones, but a large-cap share slowdown restrained the growth of the VN-Index on May 8. On the HCM Stock Exchange, the VN-Index edged up 0.28 percent to close the session at 554.51 points with 121 stocks rising, 71 dropping and 111 ending flat. Strong growth of speculative shares lifted the market. Many hit ceiling prices, like HAI Agrochem Co (HAI), Sao Mai Group (ASm), PAN Pacific Corp (PAN) and Quang Nam Rubber Investment Co (VHG). At the other end of spectrum, blue chips lost momentum as heavyweight stocks like Vietcombank (VCB), Vietinbank (CTG), Hoa Phat Group (HPG), VinGroup (VIC), and PetroVietnam Drilling and Wells Service Corp (PVD) all declined. The VN30, which tracks the top 30 shares by market value and liquidity, inched up 0.09 percent to stand at 582.91 points. Liquidity was little changed compared with May 7's level. Nearly 73 million shares worth more than 1 trillion VND (46.1 million USD) were … [Read more...]

Realty man thinks Vietnam apartments ‘cheapest in the world’

A businessman behind a real estate company based in Ho Chi Minh City believes apartments in Vietnam are selling at the lowest prices on earth, fueling a controversial subject among local property firms. While Nguyen Xuan Quang, chairman of Nam Long Investment Co. JSC, admits that local salaried workers have to save for a long time to afford an apartment or a house, he does not think it is a sound reason to say that properties in Vietnam are too expensive. "Vietnam’s housing prices are the cheapest in the world if you apply a fair calculation," he was quoted by VnExpress as saying on the sidelines of the company’s shareholder meeting in Hanoi on Thursday. While an affordable apartment in Ho Chi Minh City fetches only US$30,000-$40,000, a similar flat in other cities of the same scale as the Vietnamese city, such as Bangkok, Hong Kong, or Manila is $300,000, Quang argued. The chairman claimed that Vietnam’s real estate market is facing a huge challenge of … [Read more...]

Shares decline after volatile sessions

Stocks declined yesterday afternoon, dragging the VN-Index down 0.61 per cent to close the session at 549.30 points. (Photo: petrotimes) Stocks declined on the 6 afternoon of May 6, dragging the VN-Index down 0.61 percent to close the session at 549.30 points. On the Hochiminh Stock Exchange, the number of losing stocks almost tripled that of gaining stocks. Blue chips led the downturn as shown in a 1.04-percent decrease of the VN30, which tracks the top 30 shares by market value and liquidity. Oil and gas stocks, the market's momentum during the morning's trades, sustained growth in the afternoon, but blue chips plunged, pulling the market down. The market was volatile, with up and down sessions altering session by session. Aside from information about a petrol price hike in the night of May 5, there was no negative information that could dampen investors' psychology. According to analysts at FPT Securities Co, investors sold off more speculative stocks to avert risks at the … [Read more...]

Vietnamese, Chinese localities enhance ties

NDO - A delegation from China's Guangxi Zhuang Autonomous Region (GZAR) visited the central province of Binh Dinh from April 30 to May 1 to enhance relations between the two localities. Wei Chao'an, Vice Secretary of the GZAR Committee of the Communist Party of China, who led the delegation, spoke highly of potential economic and investment co-operation projects between Guangxi and Binh Dinh provinces, particularly in reference to the Mingyang Biochemistry Corporation's investment in Binh Dinh province. He said that the two provinces should foster ties in investment, economics, culture and education in the future. Vice Chairman of the Binh Dinh provincial People's Committee Phan Cao Thang expressed his gratitude to Wei's suggestion on enhancing co-operation between the two provinces and affirmed that the province will create the best possible conditions for investors in the locality. The Nhon Hoi Economic Zone in Binh Dinh province currently has 36 licensed projects with … [Read more...]

VN-Index down as holiday begins

Investors watch market movements at a securities trading floor in Ha Noi. (Photo: VNA) Blue chips lost ground in the afternoon's session of April 27, pulling the VN-Index down 0.6 percent to close at 562.40 points. On the Hochiminh Stock Exchange, the biggest stocks, including Masan Group (MSN), Vinamilk (VNM), VnGroup (VIC), Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID), Hoa Phat Group (HPG) and Phu My Fertiliser (DPM), declined by 0.9-4.4 percent. The VN30 which tracks the top 30 shares by market value and liquidity slumped 0.49 percent to end at 593.15 points. The continued drop of the Ocean Group (OGC) also fuelled investor worries. Shares dived 5 percent after many investors placed sell orders on millions of OGC shares at its floor price. However, only 675,700 shares changed hands by the end of the session. Overall market conditions were negative as the decliners outnumbered the advancers by 115-98, while another 93 closed flat. Liquidity also … [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...]