Electronics, woodwork exports join “1 billion dollar club”

Tue, 12/28/2004 - 17:48

Electronics and woodwork became the fifth and sixth members of the “One Billion Dollar Club”, a so-called recognition group for exported goods which earn Vietnam at least one billion USD annually.
The robust growth of electronics and woodwork exports this year helped expand the club’s membership which had remained at four since 2003. The other members are crude oil, garment and textile, footwear and seafood.

The six goods are estimated to make up two-thirds of Vietnam’s export revenue.

Vietnam’s handiwork exports increase

Tue, 12/28/2004 - 17:46

Vietnam’s handicrafts exports for 2004 hit 410 million USD, up 11 per cent from last year, according to the Ministry of Trade.

The industry’s major products are woodwork, rattan, glassware, pottery and porcelain, lacquer, jewelry and gemstones.

Currently, Vietnam sells handicrafts to 133 countries and territories in the world.

Reported by X.Q – Translated by Hieu Trung.
Story from Thanh Nien News
Published: 27 December, 2004, 22:48:43 (GMT+7)
Copyright Thanh Nien News

Car sales in Vietnam to soar despite price hike

Tue, 12/28/2004 - 17:45

The cost of buying a new car in Vietnam is expected to sky-rocket starting early 2005 because of a government decision to increase tariffs on automobiles, but the market is likely to continue booming.
As planned, the government will raise the excise duty on five-seated cars to 40 percent from the current 25 percent. The new tax rate will go into effect on January 1, 2005.

Sky-high prices

The tax hike will raise car prices by about 10 percent on average, according to automakers.

US dollar plunge upsets Vietnamese businesses

Tue, 12/21/2004 - 16:46

Vietnamese importers and exporters are facing significant business risks driven by the US dollar’s steep fall against major world currencies, according to financial experts.

Although the US dollar has recovered ground from recent record lows against the Euro, no one can guarantee its downward run has ended, said experts, and the unclearness has Vietnamese businesses worried.

Significant threat

U.S. companies to build recreation complexes in VN

Two American companies, Andy Dye and Three, will pair up with a Vietnamese partner to build a recreation complex, a golf resort and a five-star hotel in Vietnam.

The two American companies on Dec. 17 signed a memorandum of understanding with Au Lac Ltd. Co. to form a joint-venture called the Ha Long Bay Group.

National Assembly official meets Washington media

Washington, Dec. 11 (VNA) - Ton Nu Thi Ninh, Vice Chairwoman of the Foreign Affairs Committee of the Viet Nam National Assembly, has met with the press in Washington during her current working visit to eight States and 12 cities in the US.

UNITED AIRLINES LAUNCHES HISTORIC U.S.-VIETNAM SERVICE

United Airlines Press Release

Chicago, December 9, 2004 -- United Airlines (OTCBB:UALAQ.OB) today launched the first scheduled flight of a U.S. airline to Vietnam in almost 30 years, the culmination of years of hard work and close cooperation between the governments of both countries.

Vietnam-U.S. trade is “blooming”: US Consul General

Ho Chi Minh City’s U.S. Consul General Seth D. Winnick talked about the new direct air flights between the two countries and their trade prospects.

What do you think about the launch of direct flights from Vietnam to San Francisco?

It is very important because there has not been direct air service between the U.S. and Vietnam for 30 years, so it’s very significant. It demonstrates that Americans are coming to Vietnam, air traffic is going up, tourism is going up, and business is going up.”

Robust U.S. – Vietnam trade marks 3rd anniversary of BTA

Even the governor of Washington State came to promote American apples in a Vietnam marketplace
The Vietnam-U.S. Bilateral Trade Agreement (BTA) has been in effect for three years with a most notable achievement of robust two-way trade growth, making the U.S. one of the top ten investors in Vietnam.
Two-way trade between Vietnam and the U.S. has increased considerably since the BTA went into effect on Dec. 10, 2001. Trade revenue jumped to nearly $ 5.8 billion US in 2003 from $ 1.4 billion in 2001.

Increased two-way trade

Americans Pleased To Be Back

Sai Gon Times Weekly, 12/4/2004

A short interview with Mr. Joe Mannix, United Airlines country manager, Vietnam

Do you think the competition over Vietnam-US flights will be fierce? What will United Airlines do to ensure its own success?

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