South Korea

Binh Duong: The Destination for Foreign Retailers

December 14, 2011 (Vietnamica) — Department of Planning and Investment of Binh Duong disclosed that a number of international distributors are exploring opportunities in the HCMC’s suburb province. Aeon Corporation (Japan): The Japanese retailer basically completed the investment procedures as the provincial authorities have approved a six-hectare location in Vietnam Singapore Industrial Park (VSIP) for the investor to carry out the project. The Aeon’s commercial center in Binh Duong would have three stories and 75,000 square meters in total, with retail space accounting for 45,000 square meters. The investor expects to commence work on the project in 2012 and...

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Vietcombank Exits Shinhan Vina Bank

November 15, 2011 (Vietnamica) — The Vietnamese central bank has approved Vietcombank’s proposal to sell off its equity stake in Shinhan Vina Bank to Shinhan Vietnam Bank. Vietcombank owns 50 percent of Shinhan Vina Bank’s charter capital – about VND 590 billion, or US$28 million. Following the deal, the joint-venture Shinhan Vina Bank will be merged with the wholly foreign-owned Shinhan Vietnam Bank.

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Vietnam: Petrolimex Bids For 1.05 Mln Tons of Gasoil For 2012

November 14, 2011 (Vietnamica) – The State-own Petroleum Import-Export Corp. (Petrolimex) has bid for up to 1.05 million tons of gasoil, delivering over Jan. to Dec. 2012. The tender closes on Nov. 16 and is valid until Nov. 22 (Reuters, Nov. 14).

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Japanese Aeon to Build at least 7 Shopping Centers in Vietnam

November 12, 2011 (Vietnamica) – “The Japanese largest retailer – Aeon – is planning to build at least 7 shopping centers in Vietnam,” the Group’s CEO Nagahisa Oyama told Saigon Times. The first US$100 million center – Aeaon Tan Phu Celadon – is expected to inaugurate by early 2014.

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Japan’s Three Interests in Trans-Pacific Partnership

November 11, 2011 (Vietnamica) – In his recent article “The Trans-Pacific Partnership and the Rise of China: What Japan Joins the TPP Means for the Region,” on Foreign Affairs, Bernard K. Gordon – Professor Emeritus of Political Science at the University of New Hampshire – points out three Japanese interests in the TPP.

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Trung Nguyen’s Instant Coffee Enters US, RoK Markets

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November 7, 2011 (Vietnamica) — Trung Nguyen’s G7 Instant Coffee has been officially sold at Costco super market chains in the U.S. and E-Mart outlets in the Republic of Korea since October. Trung Nguyen has shipped 100 containers of G7 to Costco and 15 containers to E-Mart. G7 Instant Coffees have had to pass strict examination by international verification agencies – SGS and Bureau Veritas. These products must meet more than 20 requirements in factory policies, equipment, processing technology, materials, preservation, transport, and labor safety (VGP, Oct. 31).

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