Business briefs

TN News

Email Print

* Russia's energy minister signed a memorandum with Vietnam's government allowing Russian oil company TNK-BP to acquire BP's Vietnamese gas assets, a source close to TNK-BP told Reuters on Monday. The source said that Vietnamese state oil group Petrovietnam waived its option to buy the assets.

* Binh Minh Import-Export Production and Trade Co. opened on Sunday a 262-meter office and shopping tower costing US$270 million. The 68-story Bitexco Financial Tower in Ho Chi Minh City's District 1 now holds the title as the highest skyscraper in Vietnam.

* The overall vacancy rate of Ho Chi Minh City's office market dropped slightly to 13.4 percent in the third quarter despite additional new supply, consulting firm CB Richard Ellis said. Grade A rents continued to soften on a quarter-on-quarter basis to $36.70 per square meter per month. Absorption continues to grow, but rents are expected to come down, the company said.

* Viettronics Tan Binh JSC announced it has closed Sony Vietnam Ltd, its joint venture with Japanese giant Sony, after 16 years of operation. Sony Vietnam was one of the first electronics joint ventures in Vietnam. Its closure process started in 2008 with the shutdown of an assembly line.

More Business News