Midfielder Đỗ Văn Thuận (middle). — Photo tuoitre.vn HÀ NỘI — Midfielder Đỗ Văn Thuận has signed a three-year contract extension with V.League 1 club HCM City. The contract's total value is VNĐ9 billion (US$391,000). Club captain Thuận is considered one of the best midfielders in the league and a large part of the reason HCM City top the rankings with 20 points after nine matches, two clear of defending champions Hà Nội. The 27-year-old was in the team of the week for week nine in the ongoing national premier league and was called up to the national team for the Asian Cup 2019 qualifiers. Thuận first joined HCM City in 2018, signing a three-year deal. According to a HCM City official, Thuận is playing well so the club decided to extend his contract early as a reward and to secure his services in the long-term. Thuận developed at the youth football … [Read more...] about Thuận signs three-year contract extension with HCM City
Billion year contract
Historic market prepares for busy Tết after year-long upgrade
Bình Tây, one of the region’s biggest wholesale markets, is seeing more than double its average number of visitors as the traditional Tết (Lunar New Year) holiday approaches. (Photo by Ngọc Diệp) Viet Nam News The 90-year-old Bình Tây Market in District 6 is busier than ever weeks before the traditional Tết (Lunar New Year) holiday season. Thu Anh reports. Bình Tây, one of the southern region’s biggest wholesale markets, is seeing more than double its average number of visitors in the weeks before the holiday season. Last month, the market’s shop owners began preparing for the year’s biggest business season, hoarding thousands of Vietnamese items. More than 1,446 stalls in Bình Tây are selling a wide variety of goods, including quality food, garments, footwear, handicrafts and oriental medicinal herbs. “Not many markets in HCM City can offer their customers as … [Read more...] about Historic market prepares for busy Tết after year-long upgrade
Malaysia-Vietnam joint venture wins 176 mln USD contract
The Songa Murcur rig at the Sao Vang oil field (Source: VNA) Hanoi (VNS/VNA) - The Malaysia Vietnam Offshore Terminal Ltd. (MVOT), a joint venture between PetroVietnam Technical Services Corp and Malaysia’s MIBS Bhd, has won a 176 million contract to provide equipment for Idemitsu Kosan to develop the Sao Vang-Dai Nguyet gas project. Under the seven-year contract, MVOT will provide a floating storage and offloading (FSO) vessel to the Japanese firm for the development of the gas and condensate fields, the Vietnam Oil and Gas Group (PetroVietnam) said on November 6. The FSO has a capacity to store 700,000 barrels of condensate, double Idemitsu Kosan’s minimum storage requirement of 350,000 barrels. It is slated to receive the first condensate flows in July 2020. The FSO is designed with housing for 55 technical and operational personnel and a helicopter landing gear with the latest UK CAP 437 standard, capable of receiving Airbus H-225 or equivalent. The contract can be … [Read more...] about Malaysia-Vietnam joint venture wins 176 mln USD contract
PetroVietnam Technical Services awarded $176m equipment contract for Sao Vàng-Đại Nguyệt gas project
The Songa Murcur rig at the Sao Vàng oil field. — VNA/VNS Photo Viet Nam News HÀ NỘI — The Malaysia Vietnam Offshore Terminal (MVOT), a joint venture between PetroVietnam Technical Services Corp and Malaysia’s MIBS Bhd, has won a US$176 million contract to provide equipment for Idemitsu Kosan to develop the Sao Vàng-Đại Nguyệt gas project. Under the seven-year contract, MVOT will provide a floating storage and offloading (FSO) vessel to the Japanese firm for the development of the gas and condensate fields, the Việt Nam Oil and Gas Group (PetroVietnam) said on Tuesday. The FSO has a capacity to store 700,000 barrels of condensate, double Idemitsu Kosan’s minimum storage requirement of 350,000 barrels. It is slated to receive the first condensate flows in July 2020. The FSO is designed with housing for 55 technical and operational personnel and a helicopter landing gear with the latest UK CAP 437 standard, capable … [Read more...] about PetroVietnam Technical Services awarded $176m equipment contract for Sao Vàng-Đại Nguyệt gas project
VNA, Lufthansa Technik ink maintenance contract
Representatives from Vietnam Airlines and Lufthansa Technik AG after signing the contract. — VNS PhotoViet Nam News HÀ NỘI — Vietnam Airlines and Lufthansa Technik AG on Thursday inked an Auxiliary Power Units (APU) maintenance service contract for the carrier’s growing Airbus A350 fleet. Dương Trí Thành, CEO and President of Vietnam Airlines, said the contract will further strengthen the results-driven partnership between the two companies. “We believe that Lufthansa Technik will deliver its world-class technical competencies ensuring smooth operation of Vietnam Airlines’ Airbus A350 fleet on our long-haul flights,” he said. Vietnam Airlines’ A350s are equipped with Honeywell’s HGT1700 APU, which have been developed to match the operational requirements of the A350 XWB. The three-year contract will encompass maintenance services for the airlines’ 10 APU. Vietnam Airlines is currently operating 12 … [Read more...] about VNA, Lufthansa Technik ink maintenance contract
Lotte wants new 50 year lease to turn profit with Lotte Mall Hanoi
Nearly two years after acquiring the largest trade centre in Hanoi from Citra West Lake City Development Co., Ltd., Lotte Group has yet to break ground on its Lotte Mall Hanoi, as the remaining period of operations is too short to turn a profit. Lotte wants new 50-year lease to turn profit with Lotte Mall Hanoi Sim Young Woo, general director of Lotte Properties Hanoi Co., Ltd., said at a meeting with the Ministry of Planning and Investment (MPI) last week that the Lotte Mall Hanoi project has received the permit to adjust the planning and expects to put it into operation by 2022. However, the foundation, constructed by the original investor Citra West Lake, leaves a lot to be desired, meaning the company has to tear it down and build a new one. “We will develop the project from the foundation up, and we will have to return the land to the government in 2046, in line with the original contract with Citra West Lake. That means it will be very difficult to make a profit … [Read more...] about Lotte wants new 50 year lease to turn profit with Lotte Mall Hanoi
Vietnam, France sign multi billion dollar contracts
(VEN) - Forty-five years after establishing diplomatic ties and five years after upgrading bilateral relations to a strategic partnership, Vietnam and France are identifying opportunities to boost their relations to a new high commensurate with the traditions, potential and position of the two countries. The recent visit by Vietnam Communist Party General Secretary Nguyen Phu Trong to France contributed to deepening this relationship. Vietnam Communist Party General Secretary Nguyen Phu Trong (left) and French President Emmanuel Macron Photo: VNA Important partners The visit marked the first meeting of high-ranking leaders of the two countries since French President Emmanuel Macron took up office last year. It took place in the context of the 45th anniversary of Vietnam-France diplomatic ties and the fifth anniversary of their strategic partnership, and a key period of trade relations between Vietnam and the EU. In a joint statement issued following the meeting … [Read more...] about Vietnam, France sign multi billion dollar contracts
Farmers gain as tra fish prices soar 20-year peak
With the price at VND27,000-29,000 (US$1.2 – 1.3) a kilo last month, farmers earned a profit of VND4,000 – 6,000 a kilo, according to the Ministry of Agriculture and Rural Development’s Directorate of Fisheries.In previous years, tra fish farmers faced low prices and sales.However, last year, farmers made a good profit because of the high price and many sales, according to a representative of the Chau Thanh District Tra Fish Breeding Co-operative in Dong Thap Province.The price of tra fish often falls in December because exporters normally complete their export contracts during that month.Ho Kim Thoa, a tra fish farmer in Dong Thap Province’s Hong Ngu District, said this was the first time the price of tra fish had increased in December.The price of tra fish is expected to remain high because the output in the Delta has not increased much and exports will continue to be strong.Farmer Huynh Quang Khap in An Giang Province’s Chau Phu District said he had … [Read more...] about Farmers gain as tra fish prices soar 20-year peak
Bao Viet posts $1.5 billion revenue in 2017
Bao Viet’s insurance sector achieved a double digit growth rate in 2017, with life insurance premium rising by 25 per cent year-on-year. — Photo baoviet.com.vn Bao Viet Group has announced total consolidated revenue of some VND31.2 trillion (US$1.5 billion) in 2017, increasing 21.5 per cent from the previous year and surpassing 8 per cent of its set target. Its after-tax profit was also estimated to be higher than the target. The group’s insurance sector continued to achieve a double digit growth rate. In 2017, life insurance premium rose by 25 per cent from 2016 and took the lead in the market in terms of new contracts, which were worth VND3.8 trillion. Its non-life insurance exceeded plans with Original Gross Premium Income of VND8.5 trillion. Its member companies introduced many insurance products in 2017, while promoting new products for individual customers through banking channels such as house building and repair loans Bao Viet Happy House, Bao Viet Happy … [Read more...] about Bao Viet posts $1.5 billion revenue in 2017
Tra fish prices at highest level in last 20 years
With the price at VND27,000 - 29,000 (US$1.2 – 1.3) a kilo last month, farmers earned a profit of VND4,000 – 6,000 a kilo, according to the Ministry of Agriculture and Rural Development’s Directorate of Fisheries. In previous years, tra fish farmers faced low prices and sales.However, last year, farmers made a good profit because of the high price and many sales, according to a representative of the Chau Thanh District Tra Fish Breeding Co-operative in Dong Thap Province.The price of tra fish often falls in December because exporters normally complete their export contracts during that month.Ho Kim Thoa, a tra fish farmer in Dong Thap Province’s Hong Ngu District, said this was the first time the price of tra fish had increased in December. The price of tra fish is expected to remain high because the output in the Delta has not increased much and exports will continue to be strong.Farmer Huynh … [Read more...] about Tra fish prices at highest level in last 20 years