Investment: Vietnam Haiphong City Ranks 2nd in FDI Attraction in Eight Months

Vietnam’s northern port city of Haiphong attracted a total of over $1.1 billion in foreign direct investment in the first eight months of this year, ranking second in the country after the southern province of Binh Duong.

They city licensed 20 new FDI projects with total investment of over $1 billion and allowed 18 existing projects to expand their capital by $77.6 million during the period. Of the total value, 97% came from Japan.

Most of the FDI is poured into hi-tech industrial projects, with the biggest invested by tyre maker Bridgestone worth $574 million. Nipro Pharma registered a $250 million project while Fuji Xerox received a license for its $119 million plant.

The northern port city is now home to many industrial parks, including VSIP Haiphong, Nomura Haiphong, Dinh Vu and Nam Cau Kien. It boasts low labor costs and multiple airports and seaports, a favorable condition for exports.

Haiphong, which is 119 kilometers from the capital city of Hanoi, was home to 352 valid FDI projects with total pledged capital reaching $6.97 billion by late July. With the figure, it ranked 8th among localities in terms of FDI attraction.

DHL launches Malaysia-Vietnam LCL service

Cargo News Asia 31/08/2012. DHL Global Forwarding, the air and ocean freight specialist within Deutsche Post DHL, has launched a direct less than container load (LCL) service between Malaysia’s Port Klang and Cat Lai in Vietnam. The new weekly LCL service between Port Klang and Cat Lai offers the port-to-port transit time of three days, saving customers up to 10 days and boosting intra-Asia trade flows between Southeast Asia’s third and sixth largest economies. The LCL service gives companies direct, faster access compared with the previous routing which saw shipments consolidated in Singapore, says Sam Ang, Southeast Asia CEO of DHL. ”DHL is continually adapting to changes in the global marketplace so when we see a need for a new service like the one between Malaysia and Vietnam, we are best positioned to leverage our network to deliver what the customer wants,” says Asia Pacific CEO Kelvin Leung.

Forecast for Vietnam 2011 - 2016

Last year’s stabilisation measures have cut inflation to below 10%, strengthened the external accounts and ended the series of VND devaluations. But resultant slower credit growth and inventory build-up will keep GDP growth at around 5% this year, below the 6% target, despite picking up from 4.7% in Q2.
Policy has shifted back towards expansion, in pursuit of growth above 6% in 2013.

The notice!!

After few years department of warnings and notices.

You may have noticed the increased amount of notices for you to notice.

And, we have noticed that some of our notices have not been noticed. This is very noticeable.

It has been noticed that the responses to the notices have been noticeably unnoticeable. Therefore, this notice is to remind you to notice the notices and to respond to the notices because we do not want the notices to go unnoticed.

BUT WE NOTICED THAT OUR CLAIM FOR SOUTH CHINA SEA WAS WRONG SO WE ARE CORRECTING OUR MISTAKE,HERE IS THE NEW MAP WITH REVISED CLAIM.

Your sincerely,
CHINA

SOCO International to acquire remaining 20% stake in SOCO Vietnam

SOCO International plc (SI), a UK-based oil and gas exploration and production company, has entered into an agreement to acquire the remaining 20% stake in SOCO Vietnam, Ltd., engaged in oil and gas field development and production, from Lizeroux Oil & Gas, Ltd. for a cash consideration of $95 million.
The consideration is to be satisfied out of the existing cash resources of SI.
SOCO Vietnam generated profit before tax of $157 million and gross assets of $839.1 million for the year to 31 December 2011.
Bank of America Merrill Lynch is acting as financial advisor and Pelham Bell Pottinger is acting as PR advisor for SI.
The acquisition is expected to complete by the end of July 2012.

Eni to acquire two offshore exploration blocks in Vietnam from Kris Energy and Neon Energy

Eni S.p.A., an Italy-based company engaged exploration and production of oil and gas, has signed an agreement to acquire two exploration blocks located in offshore Vietnam from Kris Energy, Ltd. and Neon Energy, Ltd.
Kris Energy is a Vietnam-based independent oil and gas company, Neon is an Australia-based company engaged in the exploration and production of oil and gas properties.
The agreement cover blocks 105-110/04 and 120 located in the Song Hong and Phu Khanh basins in the Gulf of Tonkin. The Song Hong basin is estimated to contain 10% of Vietnam's hydrocarbon resources, mainly gas, and significant discoveries have recently been recorded there. The two blocks cover approximately 15,600 square kilometers of acreage.
The participating interests in the blocks will be Eni with 50% stake as operator, KrisEnergy with 25% and Neon with 25%.