Tag: Vietnam

New era dawns for telecom ventures in vietnam

Posted by | Jan 16, 2007 | |

Foreign investors are looking to have more control in telecommunications now that Vietnam is a member of the WTO, said Tran Duc Lai, Deputy Minister of Post and Telematics.

Investors want to participate in joint ventures, where they can own and operate telecommunications businesses with Vietnamese partners, instead of signing a business co-operation contract (BCC), he said.

Agreeing to a BCC was the only way foreigners could invest in telecommunications companies before Vietnam officially became the 150th member of the WTO on January 11. But it’s still up to companies whether they want to use a BCC or choose to form a joint-venture or joint-stock partnership, according to Lai.

“If both Vietnamese and foreign partners want to establish a joint venture, they can negotiate to stop the BCC and implement the procedures for a future joint venture,” he said. Market experts predict foreign companies that have already signed a BCC will be looking to establish joint ventures with local posts and telecommunication companies rapidly in the near future.

One example is the recent announcement of a joint venture between DHL, the world’s leading express and logistics company, and the VNPT. There are seven telecommunications business co-operatives that have been formed so far this year.

Three BCC contracts have expired, with four still valid. The companies still under a BCC are: France Telecom and the VNPT, the NTT of Japan and the VNPT; the South Korean SK Telecom Co and the Sai Gon Postel; and the Hutchison Whampoa of Hong Kong and the Hanoi Telecom.

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Vietnam accedes to the World Trade Organisation

Posted by | Jan 12, 2007 | |

Vietnam has finally been admitted to the World Trade Organisation, bringing its total membership to 150. The General Council of the WTO approved Vietnam’s membership on 7 November 2006, and it acceded 30 days after the agreement was ratified. The decision ends over 11 years of preparation, including eight years of negotiation.

“Vietnam has shown how anchoring domestic reforms in the WTO can yield dramatic results. Vietnam’s economic growth topped 8% last year, foreign direct investment rose steeply to over USD6 billion, and exports surged by over 20%. More must surely follow with the new laws, administrative measures, and commitments on goods and services that are in Vietnam’s membership package,” WTO Director-General Pascal Lamy said at the time of the membership approval. According to the latest WTO data, Vietnam’s merchandise exports were USD26.5 billion in 2004, and its imports were USD32.0 billion.

Many companies have not waited for the accession to commence their investment in the market. In 2006 both DHL and FedEx made agreements with the Vietnamese Post and Telecommunications Group and the Ministry of Planning and Investment to establish alliances. Also last year NYK Lines committed to sinking USD200 million into a number of shipping and logistics projects. These will include port and shipbuilding initiatives. TNT is extending its Asia road network to Vietnam, scheduled for the first half of this year, and in the last few months APL, MOL, Aramex, Kintetsu, DHL have all announced initiatives.

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DHL expands Time Definite Delivery service to Vietnam

Posted by | Dec 26, 2006 | |

DHL announced today the expansion of its Time Definite Delivery (TDD) service to Vietnam. The new service will commence on 4 January 2007.

A suite of time-definite delivery products, DHL’s TDD portfolio comprises StartDay Express for guaranteed delivery by 9 a.m., and MidDay Express for delivery by noon. With this latest service enhancement, DHL will start providing MidDay Express for Vietnam-bound documents. Customers in Japan will now be able to send documents to Vietnam by noon of the next business day.

With this latest service enhancement, DHL expects increased demand for MidDay Express document delivery services bound for Vietnam from consumer durable manufacturers such as those producing personal computers and home appliances, as well as banks and other financial institutions. Total import and export volumes in Vietnam have grown between 19 and 24 % year-on-year respectively for the first nine months of 2006, and demand for express and logistics services are also increasingly growing with Vietnam’s scheduled World Trade Organization accession in January 2007.

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DHL deepens commitment in Vietnam with USD 14 million investment

Posted by | Nov 16, 2006 | |

DHL, a leading express delivery and logistics company, today announced an investment of USD14 million for infrastructure upgrades and service expansion in Vietnam from its Express business, as well as a commitment to increase its strategic presence around Vietnam for the DHL Logistics arm.

Under the newly formed DHL-VNPT joint venture, DHL Express will be investing USD14 million into Vietnam, which is earmarked for new facilities in Hanoi, Ho Chi Minh, Haiphong and Danang, as well as fleet upgrades, direct service expansion to key industrial zones, and new vehicles.

The expansion in Vietnam totals DHL’s Asia Pacific investment to more than USD1.7 billion. The logistics infrastructural announcement in China, the expansion of the Incheon facility in South Korea and, within the week, the inauguration of the new Bangkok hub, are part of DHL’ s recent announcements that further reiterate the company’s commitment to the Asia Pacific region.

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DHL, VNPT replace agency agreement with joint venture

Posted by | Nov 11, 2006 | |

DHL, a leading express and logistics company, and Vietnam Post and Telecommunications Group today announced its new joint venture, reinforcing the companies’ belief and commitment to the rapidly developing Vietnamese market. It was also a developmental watershed in the Vietnamese Express Industry, with the partnership between the world’s leading express provider and one of Vietnam’s largest State-owned enterprises, he added.

The DHL-VNPT Express Ltd joint venture application was licensed by the Ministry of Planning and Investment on September 27, and replaces the 18-year-old Agency Agreement that the two parties had operated under in the past.

DHL is the first international express company to announce a joint venture with VNPT in Vietnam. The new license will have no impact on existing customers, who will continue to enjoy uninterrupted DHL Express services during the period of transition.

The license showed Vietnam’s commitment to opening its economy and complying with international rules, said Nguyen Bich Dat, vice minister of Planning and Investment.

He hopes that the joint venture will be an important bridge between Vietnamese enterprises and foreign counterparts, contributing to better trade relationship between Vietnam and the world-wide community. – VNS

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