The Carrier Corporation has dominated the conventional system air conditioning market for a century since Willis Carrier invented his air conditioner in 1902. Recently in Central and South America, however, LG has emerged as a new, trusted partner for the region’s air conditioning needs. LG’s success certainly hasn’t happened overnight; rather, it’s the culmination of a decade of making headway in the region with a succession of energy efficient, eco-friendly solutions. Of late, LG’s variable refrigerant flow (VRF) technologies have drawn considerable attention. It is little surprise then that when construction began on Chile’s (then) tallest skyscraper in 2010, the Titanium La Portada in Santiago, LG’s air conditioners were chosen for the job. Likewise, LG was also brought in to design and build a water-cooled heating and cooling system for Santiago’s Santa Rosa project. The USD 7 million contract called for snowmelt from the Andes to … [Read more...] about LG’s system air conditioning solutions see significant growth in Central and South American markets.
Top 10 central air conditioners
Students can borrow VND1.25 mil per month for studies Starting on January 9, 2016, students are eligible for borrowing VND 1.25 million (US$56.4) per month per student as per the Prime Minister’s decision. Currently, a student can borrow VND1.1 million (US$49.6) a month for pursuing their studies. Nguyen Van Ly, deputy director of the Vietnam Bank for Social Policy, said that for 8 past years, the credit program provides credit for poor students to help them pursuing their studies; accordingly, the program has contributed to promoting education and fairness amongst young people. So far the bank has lent VND55 trillion (US$ 2.5 billion) to 3.3 million students. Traffic safety year 2016 launched nationwide Activities to mark the start of the Traffic Safety Year 2016 took place in Hanoi on January 9, which aims to raise public awareness of observance of traffic rules. The event was also to improve efficiency of State management, as well as enhancing the effectiveness and … [Read more...] about Social News 10/1
Seafood service firms dominate Vietfish 2014 The number of firms providing services and equipment for the seafood sector make up 65% of 173 corporate exhibitors at the ongoing Vietnam Fisheries International Exhibition 2014 (Vietfish 2014) in HCMC. The Vietnam Association of Seafood Exporters and Producers (VASEP), the organizer of Vietfish 2014, said there are more seafood service providers than in previous years. Seafood processors and exporters are other exhibitors at the event, which opened at the Saigon Exhibition and Convention Center (SECC) in District 7 on August 6. The 16th exhibition is attended by many big local and foreign companies, including from Japan, the United States, Belgium, China and South Korea. Truong Dinh Hoe, general secretary of VASEP, said Vietfish 2014 showcases various seafood products and services as well as equipment and technology for cold storage of seafood. Pham Anh Tuan, deputy head of the Vietnam Directorate of Fisheries, said the participating … [Read more...] about BUSINESS IN BRIEF 10/8
Cargill to increase animal feed capacity Cargill Feed and Nutrition, a subsidiary of America Corporation Cargill, has invested US$20 million in the expansion of an animal plant in the central province of Binh Dinh. The annual capacity of the plant will increase from 60,000 tonnes to 240,000 tonnes. Jorge Becerra, general manager of Cargill Feed and Nutrition, stated that the expansion of the plant has increased the total investment capital of Cargill Corporation in Viet Nam's livestock and aquaculture to more than US$110 million in the last 10 years. "The expansion will raise the capacity of Cargill's plant system to 1.4 million tonnes per year and create 50 jobs for business and customer service positions in Binh Dinh", he claimed. The expanded plant is one of Cargill's eight feed production facilities in Viet Nam and will extend the company's ability to meet the growing demand for animal feed. Hue to call for foreign investment The central province has called for foreign … [Read more...] about BUSINESS IN BRIEF 14/5
Although Vietnam has stepped up exports to ASEAN, the country ran a trade deficit of US$6.51 billion with the region last year, according to data of the General Department of Vietnam Customs. Vietnam’s trade with other ASEAN countries totaled US$49.53 billion last year, up 19.6% over 2016 and accounting for 11.7% of the country’s total foreign trade. Export growth outpaced import growth but the country still incurred a yawning trade deficit with the region. The country exported US$21.51 billion worth of products to other Southeast Asian countries, growing 23.9% against the previous year, while imports grew by 16.4% year-on-year to US$28.02 billion. The surge in exports to ASEAN is thanks to higher export revenues from mobile phones and phone parts (up US$948 million), iron and steel products (up US$722 million), computers, electronic products and components (up US$488 million), crude oil (up US$378 million), and textiles-garments (up US$181 million). Meanwhile, Vietnam … [Read more...] about BUSINESS IN BRIEF 27/3