Tag: Vietnam

National Foreign Trade Council (NFTC) welcomes new Chairman John Mullen, CEO, DHL Express

Posted by | Jan 22, 2008 | |

The National Foreign Trade Council (NFTC) announced the appointment of its new Chairman, John Mullen, Chief Executive Officer for the Express division of Deutsche Post World Net (DPWN), the parent company of DHL, effective January 22, 2008. Mullen oversees DHL’s global operations, which includes a presence in more than 225 countries and territories.

Mullen is also member of the Board of Management of DPWN, the world’s largest transport and logistics group. Prior to being named worldwide CEO of the Express division, Mullen was the CEO of U.S. based DHL Americas. Before joining DHL, Mullen spent 10 years with the TNT group, holding various senior leadership positions, including Chief Operating Officer for two years and Chief Executive Officer of TNT Express Worldwide for three years.

“With protectionist sentiments growing, the Doha Round outcome uncertain and much work left to be completed in the U.S. Congress on the three pending FTAs, now is a critical time for the NFTC to work with policymakers to illustrate and underscore the benefits of trade to domestic and international economic growth,” said Mullen. “I look forward to working with the NFTC to help lead these efforts.”

Mullen will succeed Dinesh Paliwal, President, Chief Executive Officer and Vice Chairman of Harman International, who served as Chairman of the NFTC since 2005.

The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.

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Vietnam Post office goes it alone from New Year’s Day

Posted by | Dec 28, 2007 | |

The Viet Nam Posts and Telecommunication Group (VNPT) has been split into posts and telecommunication divisions.

The long-prepared divide was formally approved on Wednesday and the Viet Nam Postal Corporation will be launched next Tuesday, January 1, 2008.

It will retain all of its fixed assets and manage State post offices throughout Vietnam.

The corporation will provide public welfare services to remote Vietnam and manage the national postal network, including domestic and international postal services, and press publications.

The VNPT will manage the national communications network as well as information and communication services.

The split is intended to enable a better management of postal and telecommunications services and help both to develop.

Viet Nam Postal Corporation general director Do Ngoc Binh said the corporation would try to expand its business and balance revenue and expenditure by 2010, and then gradually turn a profit.

Vietnam’s prime-minister-approved five-year Postal Development Master Plan provides for an increase of postal-service sites to 13,500 by the end of 2010.

The plan requires the Postal Corporate to ensure that all communes, including remote and highland, have daily newspaper deliveries.

But it will get State help for its public-welfare work.

Postal services provided VNPT with only 5 pct of its to total revenue.

The new corporation intends to expand providing pension payments, insurance services and the collection of electricity, telephone and water fees.

The Government is seeking both domestic and international investment for the development of its transmitting services.

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DHL Vietnam expands its fleet

Posted by | Nov 25, 2007 | |

DHL has reinforced its commitment in Vietnam with the expansion of its fleet.

This expansion will extend the pick and delivery capability of DHL–VNPT Express and bolster the company’s market position.

DHL–VNPT has the largest fleet in the industry with over 100 vehicles, including motorbikes, trucks, and pick-up vans.

General Director of DHL–VNPT Express Ltd., Tim Baxter, said “The new fleet directly benefits our customers, with faster transit times and better direct service.

“The decision to expand our fleet in Vietnam reinforces DHL Express’ commitment to enhance our service offerings so that our customers can rely on efficient and reliable first-rate express and logistics service through DHL.”

The company will continue investment in network expansion, ground infrastructure, personnel development and improved processes to support business growth, he said.

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VNPT seeks okay for reshuffling proposal

Posted by | Sep 24, 2007 | |

VNPT Group will not establish more than three telecommunication corporation affiliates in the north, central and southern regions under its reshuffling proposal.

The Ministry of Information and Communications (MoIC) has agreed in principle to allow the group to make changes to its restructuring proposal, but it must receive prime ministerial approval. VNPT wants provincial telecom companies to be separated from post offices and operate under its current direction instead of belonging to the regional telecommunication corporations as planned.

MoIC Minister Le Doan Hop said the separation of telecom and postal businesses would pave the way for the group’s Vietnam Post Corporation to start operating independently from early next year.

“The MoIC agreed with the reshuffling and the group must clearly explain its reasons for this change to the government and facilitate the operation of Vietnam Post Corporation along with ensuring operations for the provincial telecom offices,” said Hop.

The move comes amid a backdrop of telecommunications convergence market trends and fierce competition from other operators.

Pham Long Tran, acting president of VNPT’s board, said the original VNPT Group proposal was submitted to the government in 2002 and approved in 2005, and during that time network technologies have changed which the group must adjust to.

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Citibank, Vietnam postal savings firm in tie-up

Posted by | Sep 12, 2007 | |

Citibank signed a deal Tuesday with a subsidiary of the state-run Vietnam Posts and Telecommunications Group to provide local clients a range of banking products.
The deal will allow both corporate and individual clients of Vietnam Postal Savings Service Company make payments and transfers to firms banking with the US bank.

They can also carry out personal transactions like paying school and hospital bills using Citibank fund transfers and checks.

Citibank general director Charly Madan said there were plans to introduce an additional 800 desks to provide banking services in the country, adding that figure should eventually rise to 2000.

Citibank has branches in Hanoi and Ho Chi Minh City and a nationwide partnership network that covers all of Vietnam’s 64 provinces.

The bank offers a wide range of banking services, including currency transactions, hedging, cash management including access to ATMs, trade services, short and medium-term loans in foreign currency and Vietnamese dong to state-owned enterprises, multinationals, financial institutions and private sector borrowers.

Citibank has recently launched its maiden domestic offering in the Vietnamese debt market, expecting it will help expand and develop the local long-term debt market.

The inaugural issue was a VND 400 billion (USD 22 million) floating rate issue with a tenor of two years and one day.

The issue marks the debut long-term negotiable certificate of deposit to be issued in Vietnamese dong. Proceeds will be used for general corporate purposes.

The coupon resets every six months and will pay at a specified spread over a benchmark rate set by the bank. The issue is being targeted at local investors.

Citibank is a regular issuer in Asia’s debt markets, having issued in Hong Kong dollars, Singapore dollars and Thai baht in recent years.

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