"¢ Prime Minister Nguyen Tan Dung approved the transfer of EVN Telecom Co., a unit of Electricity of Vietnam, to Vietnam Military Telecommunications Corp., or Viettel, according to a statement on the government's website. The statement didn't provide any timeframe.
"¢ Vietnam's commercial banks are responsible for ensuring that loans extended for gold jewelry processing and production are correctly used for the stated purposes, the central bank said in a statement posted Wednesday on its website.
"¢ Toyo Ink Group Bhd. received approval from the Vietnamese government to research and develop the Song Hau 2 thermo power plant project in the province of Hau Giang, the Malaysian company said in a statement to the stock exchange. Toyo Ink will negotiate with a few unnamed parties to set up a joint venture to start the investment project which will cost an estimated US$2.5 billion, it said.
"¢ Bank for Investment and Development of Vietnam, or BIDV, has received government approval to sell shares in an initial public offering at a minimum of VND18,500 each, it said in a statement on its website on Tuesday. BIDV will conduct its IPO on December 28, Chairman Tran Bac Ha said on November 30.
"¢ Vietnam National Coal-Mineral Industries Group, known as Vinacomin, will start producing alumina as early as this year, Vu Manh Hung, deputy general director, said at a briefing in Hanoi on Wednesday.
"¢ State-owned oil and gas group PetroVietnam will produce 15.8 million tons of crude oil next year, Deputy General Director Vu Quang Nam said at a briefing in Hanoi on Wednesday. PetroVietnam will produce nine billion cubic meters of gas in 2012, he added.
"¢ Vietnam's national textile exports is forecast to rise to $6.5 billion in 2012 from an estimated $6.1 billion this year, Le Tien Truong, deputy general director of Vietnam National Textile and Garment Group, said at a briefing in Hanoi on Wednesday.
"¢ Parkson Holdings Bhd., a Kuala Lumpur-based department-store operator, plans to enter new markets in Southeast Asia to tap the region's growing affluence. The retailer, whichhas 102 outlets in China, Malaysia, Vietnam and Indonesia, sees Myanmar, Thailand and the Philippines as potential markets, said Alfred Cheng, managing director of the units listed in Hong Kong and Singapore. Revenue from stores open more than a year in Vietnam will grow about 15 percent to 20 percent next year, he said.