News In Briefs

07-10-2009

Food, fertiliser venture with Cambodia
PHNOM PENH — Companies from Viet Nam and Cambodia have set up food and fertiliser joint ventures.

The official contract on the establishment of the Cambodia-Viet Nam Foods Co and Cambodia Five Stars International Fertiliser Co was signed in Phnom Penh on Monday.

The foods company had an initial registered capital of US$8 million, with three shareholders — the Investment and Development Company of Cambodia, Vinafood 2 and the Green Trade Company of Cambodia.

The fertiliser company, with an initial registered capital of $15 million, was established by the Investment and Development Company and Five Stars.

Swiss BellHotel to run Da Lat hotels
HCM CITY — Swiss BellHotel will manage two five-star and four-star hotels in Sacom Resort, Da Lat, following the signing of a contract with the Cable and Telecommunication Materials Corp in HCM City.

Sacom Resort was built in Tuyen Lam Lake tourist area on 278ha. Its initial investment cost was over VND2,000 billion ($11 million).

BIDV Tower begins leasing this month
HA NOI — An A-class office building to be opened in Ha Noi this month is available for leasing.

This 25-storey BIDV Tower has a total useable area of 11,000sq m. The anchor tenant is the Bank for Investment and Development of Viet Nam.

Twin towers to be built in Nha Trang
NHA TRANG — Two 36-storey apartment towers are to be built in Nha Trang at a cost of VND1.8 trillion (US$101 million), featuring 400 apartments and 250 hotel rooms, a trade centre and a recreation area.

Located on 12.5ha in central Khanh Hoa Province, the Lighthouse Complex will be built by the Hai Dang Investment Joint-stock Co.

Co-investors are PetroVietnam Finance Corporation, the Sai Gon Trade Corp, the Hoa Binh Real Estate and Construction Co, the PVFC Land Co, the PVFC Investment and Consultant Co and the Dai Hai Investment Jointstock Co. — VNS