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...]

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...]

Large-cap shares drive markets down

Officers of Hanoi Stock Exchange update information on its system (Photo: VNA) The benchmark VN-Index edged down 0.41 percent to close the March 13 session at 586.10 points on the Ho Chi Minh Stock Exchange as large-cap shares had a declining performance. The VN30, which tracks the top 30 shares by market value and liquidity, decreased by 0.53 percent to end at 616.94 points, with losers outnumbered gainers by 18 to 4. Bank shares, including Vietinbank (CTG) and the Bank for Investment and Development of Vietnam (BID), continued to improve their performances, gaining 1.06 and 1.09 percent in share prices and had total trading volumes of 2.38 and 2.43 million shares, respectively. However, the declining performances of other large-cap shares were the main force dragging the market down. Vietnam Dairy Products Joint Stock Company (VNM), PetroVietnam Gas Joint Stock Corporation (GAS) and Ma San Group Corporation (MSN)'s share price in turn decreased by 0.92 percent, 1.92 percent … [Read more...]

Vietnam, Hungary seeks to deepen trade co-operation

Vietnam and Hungary discuss ways to boost economic and trade co-operation at the 6th Session of Vietnam–Hungary Joint Commission on Economic Co-operation in Hanoi on March 13. (Image credit: VOV) NDO – The 6th Session of the Vietnam–Hungary Joint Commission on Economic Co-operation commenced in Hanoi on March 13. Vietnamese Deputy Minister of Industry and Trade Ho Thi Kim Thoa and Secretary of State at the Hungarian Ministry of Foreign Affairs and Trade Mikola István co-chaired the meeting. At the session, the two sides reviewed the implementation of agreements reached at the Joint Commission’s previous session and discussed key co-operative issues to figure out measures to promote relations in the fields of economics, trade, science and technology, and raise the two-way trade turnover. Ways to accelerate co-operation in fields with potential such as manufacturing, healthcare, agriculture, water supply, education and training, environmental … [Read more...]

Bank, property shares back VN-Index

Investors watch stocks trading on Hoang Gia Securities Co's trading floor in Ha Noi. The VN-Index closed higher yesterday thanks to gains made by bank and property shares (Photo: VNS/VNA) The benchmark VN-Index made a rebound on March 12 on the Hochiminh Stock Exchange, led by bank and property stock gains. The VN-Index edged up 0.34 percent to close the session at 588.53 points, while the VN30, which tracks the top 30 shares by market value and liquidity, increased by a slower pace of 0.16 percent to end at 620.24 points. Bank shares rebounded on the information of positive credit growth in the first month of the year. Major banks such as Vietcombank (VCB), Vietinbank (CTG), and the Bank for Investment and Development of Vietnam (BID) posted modest gains of 0.5-0.8 percent, while others like Sacombank (STB), Military Bank (MBB) and Eximbank (EIB) rose back to the reference price. Property stock growth also helped the market recover. FLC Group (FLC), the most active code with … [Read more...]

VN-Index edges past 600 points

The VN-Index successfully surpassed the psychological landmark of 600 points as buying power increased dramatically in the afternoon session of March 4. On the Hochiminh Stock Exchange, the benchmark index added 0.62 percent to close the session at 600.39 points, the highest level since November, 2014. The market condition was positive as advancers more than doubled decliners. Blue chips were mixed. However, thanks to growth by heavyweight stocks like Bao Viet Holdings Co (BVH), Vinamilk (VNM), Vietcombank (VCB) and Eximbank (EIB), the VN30, which tracks the top 30 shares by market value and liquidity, increased 0.39 percent to end at 629.69 points. Liquidity improved only slightly compared to the previous session, totaling nearly 121 million shares worth 2.05 trillion VND (95.8 million USD). Cash flows focused on small and mid-shares, particularly in securities and real estate stocks like HCM City Securities Co (HCM), Saigon Securities Inc (SSI), BIDV Securities Co (BSI), … [Read more...]

Foreign purchases lift Vietnam’s stocks

Investors capture auction results on their cell phones at the Ha Noi Stock Exchange. (Photo: VNS) Stocks posted substantial gains on March 3 on the two exchanges, thanks to strong buys by foreign investors. The foreign sector was responsible for another net buy value of 77.3 billion VND (3.6 million USD) on the Hochiminh Stock Exchange. Their buys focused on blue chips, including VinGroup (VIC), Masan Group (MSN), Hoang Anh Gia Lai Co (HAG) and Phu My Fertilizer (DPM), which also helped lift prices of these shares. On the Hanoi Stock Exchange, they also collected shares worth a net value of nearly 30 billion VND (1.4 million USD). Stable trading by the foreign sector contributed to ease local investors' psychology. In the southern market, the VN-Index added nearly 6 points, or 1.01 percent, to close the session at 596.72 points. The VN30, which tracks the top 30 shares by market value and liquidity, gained 1.66 percent to end at 627.27 points. Market conditions were … [Read more...]

ASEAN hails Vietnam’s economic integration

(VOVworld) – Minister of Industry and Trade Vu Huy Hoang has revealed Vietnam’s preparations for the establishment of the ASEAN Economic Community in an interview with the Vietnam News Agency at the conclusion of the 21st ASEAN Economic Ministers’ Retreat (AEM-Retreat 21) in Malaysia. Minister of Industry and Trade Vu Huy Hoang in an interview with the Vietnam News Agency (Photo: VNA) Hoang said the ASEAN economic ministers reviewed the implementation of commitments on the ASEAN Economic Community formation and discussed measures to boost non-tariff trade and business operations. The Ministers also showed their commitments to concluding negotiations on the Regional Comprehensive Economic Partnership agreement in late 2015, which will promote economic, trade, and investment co-operation between ASEAN and Japan, the Republic of Korea, China, New Zealand, Australia, and India. Hoang said Vietnam is one of the leading countries in implementing its commitments, … [Read more...]

New free trade deal to heighten economic ties with Korea

The Vietnam- the Republic of Korea Free Trade Agreement (FTA) will serve as a milestone to strengthen the two countries' economic relations, expected to reach US$70 billion in trade by 2020. This was revealed at a seminar on March 2 on economic co-operation between Vietnam and the Republic of Korea in the Post-FTA era. Under the FTA, signed in December, the two countries will remove import tariffs on more than 90% of all products once the FTA is implemented, probably in June. "This will not only expand trade and investment opportunities between the two countries, but help reinforce co-operation in various sectors, including industry, energy, agriculture and infrastructure," said Hae Moon Chung, Secretary General of ASEAN-Korea Centre. According to the latest data from South Korea, the country rose to become Vietnam's largest foreign investor last year in terms of both value and number of projects. This put it ahead of Japan, Taiwan and Singapore. Vietnam has risen as a … [Read more...]

New free trade deal to heighten economic ties with RoK

The Vietnam- the Republic of Korea Free Trade Agreement (FTA) will serve as a milestone to strengthen the two countries' economic relations, expected to reach US$70 billion in trade by 2020. This was revealed at a seminar on March 2 on economic co-operation between Vietnam and the Republic of Korea (RoK) in the Post-FTA era. Under the FTA, signed in December, the two countries will remove import tariffs on more than 90% of all products once the FTA is implemented, probably in June. "This will not only expand trade and investment opportunities between the two countries, but help reinforce co-operation in various sectors, including industry, energy, agriculture and infrastructure," said Hae Moon Chung, Secretary General of ASEAN-Korea Centre. According to the latest data from the RoK, the country rose to become Vietnam's largest foreign investor last year in terms of both value and number of projects. This put it ahead of Japan, Taiwan and Singapore. Vietnam has risen as a … [Read more...]

New free trade deal to heighten economic ties with South Korea

Under the FTA, signed in December, the two countries will remove import tariffs on more than 90 per cent of all products once the FTA is implemented, probably in June. — Photo vir HA NOI (Biz Hub) — The Viet Nam-South Korea Free Trade Agreement (FTA) will serve as a milestone to strengthen the two countries' economic relations, expected to reach US$70 billion in trade by 2020. This was revealed at a seminar yesterday on economic co-operation between Viet Nam and South Korea in the Post-FTA era. Under the FTA, signed in December, the two countries will remove import tariffs on more than 90 per cent of all products once the FTA is implemented, probably in June. "This will not only expand trade and investment opportunities between the two countries, but help reinforce co-operation in various sectors, including industry, energy, agriculture and infrastructure," said Hae Moon Chung, Secretary General of ASEAN-Korea Centre. According to the latest data from South Korea, the … [Read more...]

Investor of PVN Tower to be replaced

Hung Le The government of Hanoi City has been assigned to consider and decide on a proposal of Mai Linh Investment Co. to replace the current investor to ensure the effectiveness of land use. In 2012, the PM told PetroVietnam not to develop the complex consisting of a five-star hotel, commercial center and park on an area of 21.2 hectares to focus resources on its core businesses. Therefore, PetroVietnam gradually withdrew capital from the property sector. As instructed by the PM, the project was transferred to PetroVietnam Construction Corporation and PetroVietnam only contributed a small amount of capital to building office space for the group and the group’s name would not be attached to the project. In March 2011, the project was scaled down from 102 floors to 79 floors and the investment was cut from US$1 billion to US$600 million. The adjustment plan of PVN Tower was announced after the National Assembly (NA) discussed re-investing VND3.5 trillion in PetroVietnam. … [Read more...]