Backdoc » May 17th, 2015, 12:37 am WOW! NOW THAT'S A SHOT IN THE ARM FOR
THE VND CURRENCY VELOCITY. (See Article Below)
I LIKE THAT PART, SETTLING PAYMENTS IN THEIR RESPECTIVE CURRENCIES! MMMM
WITH A GDP RISING OVER 6%, MOVE OVER ASIA THERE'S A NEW KID IN TOWN AND IF YOUR NOT CAREFUL HE WILL EAT YOUR LUNCH!
Thunderhawk: » May 16th, 2015 Vietnam, Russia to finalize currency deal this year
Vietnam and Russia look set to complete procedures for firms of the two nations to settle payments in their domestic currencies this year
Vietnam and Russia look set to complete procedures for firms of the two nations to settle payments in their domestic currencies this year after Vietnamese State President Truong Tan Sang and Russian President Vladimir Putin agreed on the payment method.
Both leaders have assigned financial organizations and banks to adopt specific solutions and mechanisms in the coming time.
Russian Ambassador to Vietnam Konstantin Vasilievich Vnukov said yesterday, “We only settle domestic currency payments with our important partners. Aside from Vietnam, Russia has partnered with other BRICS countries – Brazil, India, China and South Africa.”
Vnukov also briefed the media on results of the Vietnamese leader’s visit to Russia, saying the two heads of state had agreed to deepen the comprehensive strategic partnership between the two nations.
They wanted the two countries to strengthen cooperation in traditional fields such as energy, oil and gas and military technology, as well as potential sectors such as telecom, manufacturing and cooperative production.
Notably, the signing of a free trade agreement between Vietnam and the Eurasia Economic Union this month will elevate economic, trade and investment ties to a new height. Preparations for the signing have been completed, he said.
There were two important events during President Sang’s trip. First, HCMC and Moscow inked a cooperation agreement in the fields of engineering, food, processing, light industry, trade, agriculture, finance, banking, health and education.
To realize the agreement, both localities will establish a working group and Governor of Moscow province Andrei Vorobiov will visit HCMC in the coming time. Over 100 Vietnamese enterprises have expressed interest in economic cooperation with the outlying area of Moscow, the ambassador said.
Second, President Sang kicked off a new production complex of Rusvietpetro in Russia’s Nhenhets autonomous region, where it is currently developing 13 fields. The new complex allows a significant rise in the use of associated gas (from 46% to 93%), improves the environment and reduces fume residues.
Rusvietpetro Joint Venture has celebrated pumping its 10 millionth ton of oil in the area after seven years of operation.
Meanwhile, Vietsovpetro in Vietnam has turned out 215 million tons of oil since 1981, grossing revenue over US$72 billion. The joint venture expects to pump five million tons this year.
Vnukov said that the Vietnam-Russia relationship has advanced to a higher level. Vietnam is the only Asia-Pacific country with which Russia has established a comprehensive strategic partnership.
Backdoc » May 17th, 2015, 1:04 am
THERE SEEMS TO BE NO END TO THE COUNTRIES STEPPING UP TO DO BUSINESS WITH THIS NEW ASIAN POWERHOUSE! (See Article Below)
NEW OIL AND GAS DEALS, EXCELLENT FOOD PRODUCTION, DOMINATE IN THE PEPPER TRADE, RICE, COFFEE, FISH, ECT. TEXTILES, WHERE DOES IT END WITH THIS POWERHOUSE OF AN ECONOMY AND MANY WAITING IN LINE TO MAKE THEIR DEALS!
AHHH GLAD YOU ASKED, IMO WE NEED TO SEE BALANCE OF FREE TRADE AMONG EMPIRE COUNTRIES AND ELIMINATE THE CHEATING THAT CHINA HAS DONE FOR YEARS WITH THEIR CURRENCY.
WITH CHINA CARRYING THE HIGHEST CORPORATE DEBT IN THE WORLD NOW AND THEIR STOCK MARKET UNDER PRESSURE THERE SEEMS TO BE VERY LITTLE STIMULUS CHINA CAN DO TO STOP IT.
THEY ARE PUTTING ON THE BRAKES AND HITTING THEM HARD. THEY HAVE REDUCED THE ABILITY TO LEVERAGE INVESTMENTS BY USING COPPER AS AN ASSET AS WELL AS TIGHTENING OTHER ASSET CLASSES.
THE CURRENCY DEVALUATION SEEMS TO HAVE RUN ITS COURSE. I LOOK FOR A MORE LEVEL PLAYING FIELD IN THE VERY NEAR FUTURE.
CHINA'S BIGGEST WEAKNESS IN MY OPINION IS THEIR LACK OF CREATIVITY. THIS WILL HURT THEIR TRUE COMPETITIVENESS. THEY WON'T BE ABLE TO STEAL THEIR WAY TO THE FRONT OF THE CLASS ANYMORE SINCE THERE ARE OTHER PLAYERS NOW TO CONTEND WITH LIKE THE VND AND INDONESIA!
DOC OF COURSE IMO
ThunderHawk : Brazil wishes to expand partnership with Vietnam
Brazil wishes to strengthen its comprehensive partnership with Vietnam with a view to lifting two-way trade to 10 billion USD by 2020, Brazilian President Dilma Rousseff has said.
Dilma Rousseff made the statement during her reception for Vietnam’s Vice State President Nguyen Thi Doan in Brasilia on May 15, on the occasion of the latter’s attendance at the 25th Global Summit of Women in Brazil.
The Brazilian leader said her country gave high estimation to Vietnam’s increasing position in the region and the world, congratulating Vietnam on its comprehensive achievements in socio-economic development and national construction and defence.
She voiced that Brazil is willing to support Vietnam in building power transmission networks covering remote areas and expressed her hope for the countries’ enhanced locality direct links.
Vice President Doan stressed Vietnam’s desire to deepen the comprehensive partnership between the two nations, noting great potential remains untapped for the two sides in energy, agriculture, science-technology, biotechnology, defence industry, and aviation.
She took the chance to convey State President Truong Tan Sang’s invitation to visit Vietnam to the Brazilian President.
The guest said Vietnam advocates Brazil becoming a permanent member of the United Nations Security Council as well as the country’s intention to expand connection with ASEAN member nations.
Meanwhile, the host affirmed Brazil backs Vietnam’s candidacy for a 2020-2021 UN Security Council post and will consider recognising Vietnam’s market economy.
The same day, Brazilian Foreign Minister Mauro Vieira hosted a reception for Vice President Doan and her entourage, during which the two sides discussed specific measures for stronger bilateral relations, focusing on trade and investment.
Later the same day, the Vietnamese leader met with the Vietnamese Embassy’s staff and representatives from the Vietnamese community in the country.-VNA
Backdoc: YOU SEE, THIS IS ANOTHER EXAMPLE OF EQUITISATION, THE SELLING OFF OF STATE OWNED BUSINESSES! (See Article Below)
THIS BY THE WAY IS A GREAT WAY TO RAISE CAPITAL FOR THE GOVT. AS WELL TO HELP THEM REDUCE DEBT!! DOC IMO
ThunderHawk : VIETNAM: VNPT creates new corporations
The Vietnam Posts and Telecommunications Group (VNPT) held a ceremony yesterday afternoon to announce the establishment of three new corporations: VNPT Network Corporation (VNPT-Net), VNPT Telecom Service Corporation (VNPT-Vinaphone), and VNPT Media Corporation (VNPT-Media). VNPT-Net will be a cost dependent corporation while the other two are cost independent.
Their establishment comes under the government’s Restructuring Scheme for the Vietnam Posts and Telecommunications Group (VNPT).
VNPT-Net will be charge of managing VNPT’s network infrastructure and is founded on the basis of reorganizing Vietnam Telecoms National (VTN), the telecom management and operations division of VNPT, and the technical infrastructure divisions of certain smaller units (Vinaphone, VDC, and VNPT-I, and transmission switching centers in Vietnam’s 63 cities and provinces).
VNPT-Vinaphone will be responsible for conducting business relating to the products and services of Vinaphone. Its charter capital is VND5.2 trillion ($238.94 million). Its founding is based on a reorganization of multiple divisions: sales, customer services, technical services, billing, and certain other management and support divisions of VNPT in the 63 cities and provinces as well as in Vinaphone, VTN, VNPT-I and VDC.
VNPT-Vinaphone’s goal by 2020 is for revenue to stand at VND26 trillion ($1.195 billion) and profit before tax at VND3.3 trillion ($151.635 million), with average annual growth of 49 per cent, a mobile service market share of 30 per cent, and a broadband service market share of 80 per cent.
VNPT-Media, meanwhile, is responsible for producing TV and media services and has charter capital of VND2.3 trillion ($105.685 million). It is founded on the basis of combining smaller companies and divisions that currently manage VNPT’s media products.