Six contracts with a total value of almost US$2 billion were struck between Vietnamese and foreign companies at a business forum in Hanoi Thursday.
The deals, which highlighted the profile of the Doing Business with Vietnam Forum, covered a range of sectors like energy, tourism, entertainment, electronics, and property development.
The biggest deal was for a $1.4 million build-operate-transfer project to build the Mong Duong coal-fired power plant in the northern Quang Ninh province.
It will be a 90:10 joint venture between AES Transpower of the US and Vietnam Coal and Mineral Industries Group.
The plant will have at least two units, each of 500 MW capacity at most.
The second-largest deal was a joint venture project by the Saigon Invest Group, a Vietnamese private investment company, Malaysia’s V.S Industry Berhad, and Hong Kong-based International Group Ltd.
The venture plans to pump in up to $200 million in several projects in Vietnam. These include an urban-commercial complex in the northern Bac Ninh province, an automobile plant, and a high-tech electronic equipment factory.
The Saigon Invest Group operates 15 industrial parks in Vietnam.
Korean Hanwha Group and the Vinh Phuc Province-based King’s Valley Co. Ltd. signed off on a $150 million deal to develop resorts and golf courses.
Truong Thinh Co. Ltd., headquartered in the central Quang Binh province, entered into two loan agreements worth $140 million with the US’ NRG.
A $15 million loan will be used to build the Sun Spa Resort and another for $125 million to set up a network to distribute auto lubricants.
Vietnam’s leading shipping line, Vinalines, and Washington-based SSA Marine established a $100 million joint venture to upgrade the Cai Lan container terminal in Quang Ninh province.
The joint venture, the first with a US company in the sector, will build three large wharves at the port. The work will be completed by 2008.
The Vietnam Chamber of Commerce Industry, the organizer of the Doing Business with Vietnam Forum 2006, and the American Chamber of Commerce signed a deal for cooperation between the two countries’ business communities.
Microsoft Vietnam signed an agreement with the Vietnam Data Communication Company and VIP Telecoms Company to develop information portals in Vietnam.
Source: Thanh Nien
