Seafood exporters get foreign currency loans

Tag: PVC Hose
The Viet Nam Association of Seafood Exporters and Producers (VASEP) has asked the State Bank of Viet Nam to provide loans in foreign currency to seafood exporters according to Tran Thien Hai, chairman of VASEP. Under Decision 09/2008/QD-NHNN, the State bank does not provide any loans for such exporters. Interest rates on loans in Vietnamese dong are 19 per cent a year while the rates on foreign currency are 6.5-7 per cent a year. Twin electronics expos to be held in HCM City HCM CITY — The 12th International Exhibition in Viet Nam for Telecommunications and Information Technology (Vietnam Telecomp 2008) and the International Exhibition in Viet Nam for Electronics Products 2008 (Vietnam Electronics 2008) will be held in tandem from November 26-29 at the HCM City International Exhibition and Convention Centre (HIECC). The twin expo is expected to occupy an exhibition area of over 6,000sq.m, with 178 exhibitors from 17 countries and territories participating. Featured products likely to catch the industry’s attention include third-generation networking (3G), satellite technology, electronic components and accessories, and home entertainment and appliances. SaraWindow launches new products BAC NINH — The SaraWindow factory located in the Tien Son Industrial Zone, in the northern province of Bac Ninh, has officially launched a new line products made of u-PVC, a type of plastic incorporating a steel core, produced to meet the quality-control standards of European technology. SaraWindow produces doors and windows. SaraWindow operates two other factories in Viet Nam, one in the Nam Cam and the other in the My Phuoc 5 Industrial Zone, which are situated in the central province of Nghe An and the southern province of Binh Duong, respectively. These factories represent a combined capital of US$20 million. Each factory occupies a 30,000sq.m site and has an annual production capacity of 130,000 units. Builder/developer expects sharp rise in 2008 profits HCM CITY — The Lu Gia Mechanical Electric Company planned to earn a net revenue of VND120 billion (US$7.5 million) this year, a year-on-year increase of 56.4 per cent, resulting in an after-tax profit of VND30 billion and allowing a dividend payment ratio of 17 per cent. The company plans to raise its charter capital to VND80 billion from VND30 billion by issuing an additional 5 million shares. The Lu Gia Company will sell 4.5 million of those shares to existing shareholders at a ratio of 1:1.5, 150,000 to its staff and the rest to strategic partners, all at the same price of VND15,000 per share. The total capital after issuance will be invested into a Lu Gia apartment-building development project. Gemadept puts $18.7million into new subsidiary HCM CITY — The HCM City Department of Investment and Planning granted a licence to develop the Sai Gon Commodity and Service Joint Stock Co (SCSC) with an initial charter capital of VND300 billion (US$18.7 million). The company, founded by Gemadept Joint Stock Company with a capital contribution ratio of 23 per cent, will trade in a range of commodites, including oil and gas, transport, and real estate.