Local firm in deal with U.S. hotel manager By Quoc Hung - The Saigon Times Daily HCMC - Sao Sang Nha Trang Co. Ltd. has signed an agreement with the U.S. firm Marriott International, Inc. over management of a five-star hotel in Nha Trang City in the central province of Khanh Hoa. With total investment capital of VND700 billion, the upcoming hotel will comprise 250 rooms, 17 stories and two basements. It will be launched in 2013, according to Sao Sang Nha Trang. Nguyen Thi Xuan Thuy, chairwoman and general director of Sao Sang Nha Trang, said Nha Trang City was regarded as the tourism paradise of Vietnam and had great potential for tourism development. "To build a hotel with international standards, Marriott is the only name we have considered after careful deliberation," she said. "We are confident that our cooperation will bring the best in class hotel to Nha Trang. "Besides, with a large client base from Marriott's global network, we expect to attract visitors from Asia, Europe … [Read more...] about Local firm in deal with U.S. hotel manager
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WASHINGTON/NEW DELHI - The United States on Monday said it would take India to the World Trade Organization to gain a bigger foothold for U.S. manufacturers in its fast-growing solar products market, adding another irritant to an already strained relationship. The Obama administration said it was filing its second case at the WTO over the domestic content requirements in India's massive solar program, which aims to ease chronic energy shortages in Asia's third-largest economy. U.S. Trade Representative Michael Froman said making Indian solar developers use locally made equipment discriminated against U.S. producers and could hinder the spread of solar power. "Domestic content requirements detract from successful cooperation on clean energy and actually impede India's deployment of solar energy by raising its cost," Froman said. It is the second time in a year that Washington has sought a consultation at the WTO - the first stage in a dispute process that can lead to sanctions - … [Read more...] about U.S. launches new trade action against India over solar program
Evergreen Trading Inc. will ask the U.S. Department of Agriculture to review food safety to bring grapefruit to U.S. markets. My Hoa cooperative will be responsible for establishing products and completing procedures for exports to the U.S. Under the route, aiming to ship 'Nam Roi' grapefruit to the U.S. market, My Hoa cooperative proposed the Vietnam's Ministry of Agriculture and Rural Development to send request to the U.S. Department of Agriculture. Relevant agencies will coordinate with distributors in the U.S. to appraise quality and risks of 'Nam Roi" grapefruit to give final decision. The appraisement can take 1-2 years. Previously, the cooperative won a contract to ship 70 containers of 'Nam Roi" grapefruit to England and the Netherlands. … [Read more...] about Vietnam’s ‘Nam Roi’ grapefruit set to arrive the U.S.
A Gap retail store is shown in San Francisco, California, May 8, 2013. Photo: Reuters Major U.S. retailers, including Gap Inc, declined to endorse an accord on Bangladesh building and fire safety backed by Europe's two biggest fashion chains, a trans-Atlantic divide that may dilute garment industry reform efforts. Three weeks after the collapse of a building housing garment factories, which killed more than 1,100 people, Western brands that rely on Bangladesh to produce clothing cheaply disagreed over how best to ensure worker safety. A series of deadly incidents at factories, including a fire in November that killed 112 people, have focused global attention on safety standards in Bangladesh's booming garment industry, the world's biggest exporter of clothing after China. Wal-Mart Stores Inc, the world's biggest retailer, called on Bangladesh to shut one factory and examine another after its own inspections found safety problems. Sweden's H & M Hennes & Mauritz AB and … [Read more...] about European, U.S. retailers split on Bangladesh reform plan
Exciting Growth Opportunities Buoy U.S. Investment, Trade By Mong Binh U.S. companies are upbeat about investment and trade prospects in Vietnam, an emerging economy with high economic growth over the past decade Luis Manuel Ramirez and other senior executives of GE Industrial Solutions were busy traveling around Vietnam and meeting with government officials and partners last week to explore opportunities for modern manufacturing and investment expansion. As soon as the GE executives left Vietnam last week, Marriott International announced a long-term agreement to manage the Hoi An Marriott Resort & Spa in the ancient town of Hoi An. Scheduled to open in 2015, the 250-room property scales up the U.S. hotel management group’s portfolio in Vietnam to nine, including the operational hotels Renaissance Riverside Saigon and New World Hotel Saigon in HCM City. Marriott International said that it was excited to continue expansion of its hotel portfolio in Vietnam and to participate … [Read more...] about Exciting Growth Opportunities Buoy U.S. Investment, Trade
On 13 April, the vice-chairman of the Da Nang People's Committee, Mr. Van Huu Chien, met with the international development director of U.S. Cadence Design Systems. Inc, Ms. Ellen Tam, on her visit to explore investment opportunities in the Da Nang Hi-tech Zone. Ms. Tam said Cadence is a leading world company supplying IC Design software products for American, European and Asian markets. Its customers are industry leaders including Intel, Ronesas, Nokia, Motorola and Mitsubishi. The corporation has reached an agreement with the University of Da Nang to build a facility for designing chips using Cadence software. This facility will also be used for training hi-tech human resources in IC design for the central region of Vietnam. She said Cadence wants to establish a facility inside the Hi-tech Zone of Da Nang. Vice-chairman Chien said the city is carrying out site clearance for the Hi-tech Zone so that some areas can be handed over to its investors by the end of 2011. In addition to … [Read more...] about U.S. Cadence Design Systems seeks opportunities in Da Nang
U.S. businesses accompanying the U.S. Secretary of Commerce Carlos M. Gutierrez November 5 met with Vietnam state-owned oil monopoly PetroVietnam to seek investment opportunities in oil, gas and power sectors, a source from the Ministry of Trade and Industry said. During the meeting, U.S. investors namely Alcoa Inc, Cummins, Gannon, Dow Chemicals and AES Corp. were showing their keen interests in oil and natural gas exploration and production, hydropower generation, oil refining, and maintenances of gas-fueled power plants. Alcoa Inc, the world leading energy and mineral exploitation group wants to cooperate with the Vietnam National Coal and Mineral Industries Group (Vinacomin) and Dak Nong provincial government to build an aluminum refining plant with a capacity of 1.5 million cubic meters per year. Cummins group expects to develop an electric and electronic product distribution network in Vietnam and set up a joint venture to produce buses and heavy-tonnage trucks. Meanwhile, … [Read more...] about U.S. Firms Eye Oil, Power Investments in Vietnam
Vietnamese Minister of Planning and Investment Vo Hong Phuc will make a trip to the U.S. soon to call for more official development assistance (ODA) and investments from the North America nation. The Tuoi tre newspaper reported Wednesday quoted Phuc as saying that the U.S. pledged US$138.18 million ODA for Vietnam last year, adding that U.S. ranked the third among the investors in the country with a total pledged capital of US$12.21 billion in 2007-2009. A delegation from the U.S. ADC-HAS Group has arrived in the Southeast Asian country to seek for investment opportunities in airport projects, Phuc added. Earlier, Frederik Burke managing lawyer of Baker & McKenzie Co. said that more the U.S. companies, especially those operating in manufacturing and services, will expand their operations in Vietnam next years, Vietnam and the U.S are boosting negotiations on the Trans-Pacific Strategic Economic Partnership Agreement (TPP) which is expected to facilitate Vietnamese small and … [Read more...] about Vietnam Calls for More ODA, Investments from U.S.
Hard work, persistence and maybe a little bit of luck have paid off for Pasadena's 22-member Southwest Chamber Music, which in March will embark on the largest-ever cultural exchange between the United States and Vietnam. Members of Pasadena's Southwest Chamber Music are getting ready for the upcoming Ascending Dragon Music Festival and Cultural Exchange in Vietnam, coinciding with the 1,000th anniversary of the founding of Hanoi. The group was was one of just three nationwide to receive a State Department grant for cultural exchange programs (Courtesy Photo)In its third attempt, the Grammy-winning group was awarded a highly competitive $300,000 U.S. State Department grant for its six-week Ascending Dragon Music Festival and Cultural Exchange. For three weeks in March, 19 members of Southwest Chamber Music will travel to Vietnam, while 19 Vietnamese will come to Pasadena for three weeks in April and May. … [Read more...] about U.S Grammy-winning group to perform in Vietnam
VGP - Viet Nam's central Quang Tri Province and the Mine Advisory Group (MAG) of the United States on May 18 signed a memorandum of understanding (MoU) to carry out an unexploded ordnance (UXO) clearance project in the province between 2015 and 2017. According to the MoU, the U.S. State Department has pledged to sponsor $10 million in aid for the province to disarm UXO left over from the war in Viet Nam. The project aims to reduce the risks of injuries caused by UXOs while clearing contaminated areas and improving local livelihoods, reported Viet Nam's state-run news agency VNA. Quang Tri Province and the MAG will decide on the operational scale of UXO disarming teams and will adjust as necessary through each period of the project. Vice Chairman of the provincial people's committee Mai Thuc said both sides are expected to further their cooperation to ensure safe cultivative land for farmers and contribute to local socio-economic development. Local authorities pledged to … [Read more...] about VN signs UXO clearance aid pack with U.S. mine advisory group