VietNamNet Bridge - The import tariffs on finished products from regional countries have been gradually lowered to zero percent, which has raised the concern that foreign invested enterprises (FIEs) will stop producing in Vietnam and shift to import products to sell domestically. In late November 2010, at a meeting with the press to introduce products and business strategies in ASEAN countries, including Vietnam, Shigenori Tokumitsu, Deputy President of Visual Products Company belonging to Toshiba Group, said that it is highly possible that the group will relocate its LCD TV production base to Indonesia instead of Vietnam. "We are still thinking about where is the best place in ASEAN to set up our factories. We have an LCD TV production factory in Indonesia already. I think that focusing on one production base would be a good solution that can help reduce expenses. Maybe we will relocate the production base to Indonesia," he said. Toshiba Vietnam now has a factory in Thu Duc … [Read more...] about Will FIEs continue producing in Vietnam or shift to sell imports?
Making products to sell
Real estate: easy to buy, hard to sell By Ngoc Tran in HCMC Real estate is very easy to buy now. But what’s the point of buying when there’s absolutely no profitability? Paperwork is a headache, renting properties is hard, supply is greater than demand, and real estate is not as liquid as stocks. Advertisements offering real estate for sale are everywhere. Real estate developers do everything possible to woo buyers, offering all kinds of incentives – buy a property, get gold; receive a car with the purchase of an apartment; promotional interest rates; and discounts. The Thanh Truong Loc Company, the investor of the 4S Riverside Linh Dong project in Thu Duc, HCMC, for example, has come up with an unusual sales strategy. Buyers need to make a down payment equivalent to 30% of the price of an apartment and pay the remainder by monthly installment equivalent to the value of one square meter of the home. The investor also offers 15% discounts for government officials and … [Read more...] about Real estate: easy to buy, hard to sell
Japan's Mitsubishi Motors said Wednesday that it would sell its sole European plant to a Dutch industrial group for one euro in a deal that calls on the buyer to keep 1,500 jobs at the facility. The Mitsubishi Motors' headquarters in Tokyo. Japan's Mitsubishi Motors said Wednesday that it would sell its sole European plant to a Dutch industrial group for one euro in a deal that calls on the buyer to keep 1,500 jobs at the facility. Photo: AFP The automaker had earlier this year announced plans to end production at the factory in the southern Netherlands by the end of the year, blaming a difficult operating environment in the debt-hit continent. In a statement Wednesday, the Japanese firm said it would sell Netherlands Car BV, or NedCar, to VDL Groep, which makes buses and a range of industrial products, for a token one euro (US$1.20) in exchange for keeping the plant running. "(Mitsubishi) had carried out discussions with the related parties to explore the possibility of … [Read more...] about Mitsubishi to sell Dutch vehicle plant for 1 euro
HA NOI - Directors of Binh An Seafood Joint Stock Co (Bianfishco) yesterday announced plans to sell property worth more than VND150 billion (US$7.2 million) to pay off debt and boost production. Bianfishco closed in February with VND1.5 trillion (US$73.2 million) in debt to financial institutions and suppliers. It resumed operations in May. At a meeting with the Finance Ministry's Debt and Asset Trading Co and commercial banks yesterday the company said it would restructure loans and create working capital to buy fish for processing. It would sell a VND70 billion ($3.4 million) collagen drink processing factory, transfer its seafood research institute worth VND77 billion ($3.7 million) to the Ministry of Agriculture and Rural Development and sell other properties worth VND110 billion ($5.3 million). The company will pay a total debt of VND55 billion (US$2.6 million) to Eximbank and HCM City's Housing Development Bank and other debts worth VND60 billion (US$2.8 million). This … [Read more...] about Bianfishco to sell property repay debt
Taking big losses, the owners of “Coffee Duc Lap Minh An” and “Coffee Duc Lap Dakmil” are planning to sell the two brands to the Chinese enterprise, which stole “Buon Ma Thuot coffee” brand, for 18 billion dong. While Vietnamese relevant agencies have been making every effort to claim back the Vietnamese well-known brands appropriated by foreigners, the Minh An Agricultural Service Cooperative has recently sent a document to the provincial Department of Agriculture and Rural Development, informing the plan on selling coffee brands. The cooperative, located in Duc Minh Commune, Dak Mil district of Dak Nong province, said that it would sell the two coffee brands which have been protected in Vietnam, China and the US, if it cannot get support to access bank loans. Selling brands to pay debts Minh An Cooperative specializes in trading farm produce and processing coffee powder for export. Minh An’s products have been exported under the … [Read more...] about Vietnamese businessmen attempt to sell 2 coffee brands to Chinese