In Briefs (05-03-2009) AIG Life Viet Nam remains AIA subordinate HA NOI — The AIG Life Insurance Viet Nam Co Ltd announced on Monday that it would remain a subsidiary of the American International Assurance (AIA) Co Ltd, despite AIG’s move to restructure its business operations. The American International Group, known as AIG, has decided to separate the Asia-based AIA into an independent business component in an effort to reinstate its position in the Asian region amidst the world financial crisis. The AIG Life Insurance Viet Nam Co Ltd, or AIG Life Viet Nam, is a 100 per cent foreign-owned life insurance company, the first American life insurer to operate in Viet Nam since August 2000, offering a wide range of life insurance products and services. US firm to build ‘Creation City’ in Phu Yen HA NOI — The People’s Committee of central Phu Yen Province has permitted the US-based Galileo International Group to develop its US$1.68 billion "Creation City" … [Read more...] about AIG Life Viet Nam remains AIA subordinate
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Countries keen on business in Viet Nam
Business Beat (27-04-2009) Countries keen on business in Viet Nam by Thai Long HCM City hosted the 19th Asian Corporate Conference last week, the second such event held in Viet Nam by the Asia Society since 2003. The organiser affirmed the keen interest of other countries to do business in Viet Nam, despite the current economic climate. Vishakha N. Desai, president of the society, a non-partisan, non-profit global educational institution based in New York City, said given Viet Nam’s vast economic strides over the past few years the time had come to bring the group’s corporate conference back to Viet Nam to examine current developments. Deputy Minister of Planning and Investment Cao Viet Sinh told 700 participants that the banking and financial sectors as well as other groups were in excellent condition at time when many economies around the world were succumbing to many problems. "So far this year, no bank in Viet Nam has become insolvent," Sinh said. "Many banks reported … [Read more...] about Countries keen on business in Viet Nam
Prudential ups Viet Nam property market
HCM CITY — The Prudential Viet Nam Fund Management Co. has consolidated its presence in Viet Nam's real estate market with an agreement signed on Thursday with Kien A Investment&Services Ltd (Inveskia) to invest in the Blooming Park condo project in HCM City's District 2. The fund manager has replaced Korean partner Vina Development Inc. to collaborate with local partners Kien A JSC and HCM City Investment&Services JSC (Invesco) to continue developing the project which has been renamed Imperia An Phu. Located on 2.2 ha in An Phu Ward, the project will have four residential towers of 24 to 28 stories with 700 apartments each. The apartment area will range from 95sq.m to 398sq.m. Under the agreement, the fund manager will hold a 60 per cent stake in the US$120 million project, with Kien A holding 30 per cent and Invesco the remaining 10 per cent. HCM City welcomes new air route to Beijing HCM CITY — Viet Nam Airlines held a ceremony in Beijing on Thursday to … [Read more...] about Prudential ups Viet Nam property market
FTSE adjusts Viet Nam Index series
HA NOI — Changes to the FTSE Viet Nam Index will be applied next Monday, with expected impacts on the portfolios of a number of Vietnamese exchange-traded funds (ETFs). The FTSE Group announced in its FTSE Viet Nam Index Series Quarterly Review this month that shares of software producer FPT and real estate developer Hoa Sen Group (HSG) would be removed from the FTSE Viet Nam Index, to be replaced by shares of food producer Masan Group (MSN) and Becamex Infrastructure Development Co (IJC). FTSE would also add Phu Nhuan Jewellery (PNJ) to its FTSE Viet Nam All-Share Index, while removing Agribank Securities (AGR), Minh Phu Seafood (MPC), Cotec Construction (CTD), Lam Son Sugar (LSS), Sacombank Securities (SBS), Southern Rubber Industry (CSM) and real estate developer Hoang Quan (HQC). The FTSE Viet Nam Index Series, including the FTSE Viet Nam All-Share Index and FTSE Viet Nam Index, was launched by the FTSE Group in 2007. The Viet Nam All-Share Index is a broad market benchmark … [Read more...] about FTSE adjusts Viet Nam Index series
Viet Nam make preparations at VFF Cup
Viet Nam's national team will clash with South Korea's U-23s in the opening game of the VFF Sonha Cup at My Dinh National Stadium next month. Trophy show: Viet Nam Football Federation representatives organise a press conference to introduce the VFF Cup in Ha Noi next month. Viet Nam will play the U-23 South Korea team, Singapore and North Korea. — VNS Photo Quang Thang Meanwhile, Singapore will meet North Korea in their opening game of the tournament. Coach Henrique Calisto and his squad, who play India in a friendly today, will be making their final preparations to defend the ASEAN Football Championship AFF-Suzuki Cup in Viet Nam and Indonesia on December 1-29. The VFF Cup will also be good preparation for Singapore, who have been drawn in Group B with Viet Nam and Myanmar at the AFF-Suzuki Cup. According to Viet Nam Football Federation's general secretary Tran Quoc Tuan, the Lion football federation will send their best squad to the VFF Cup next month. "Singapore are also … [Read more...] about Viet Nam make preparations at VFF Cup