HCM CITY — A four-day exhibition on real estate opened yesterday at the Saigon Exhibition and Convention Centre in District 7 in HCM City.

Around 50 companies including property developers, real estate consulting firms, building materials providers, construction companies and banks are participating in the Vietnam International Real Estate (VIETREAL) to introduce their projects and services to end-users and investors.

The People's Committees of Hue, Da Naêng and DaK Nong introduced projects that call for investment.

Nguyen Van Minh, general secretary of the Viet Nam National Real Estate Association, said the expo offered opportunities for investors and customers to find products based on sound and sufficient informationIT fair offers big discounts

Malaysian firm equips power plant

HA NOI — The Malaysian Alstom Asia Pacific Co signed a contract with PetroVietnam Power Services to provide equipment, technologies and maintenance services for the Nhon Trach Power Plant No 1 for a duration of 14 years.

Nhon Trach No 1 a key national power project with a total investment of US$300 million was officially put into operation in August 2009. It has a design capacity to produce 2.5 billion kWh per year.

"Alstom has committed itself to continue co-ordinating with local investors to implement energy and infrastructure projects," said the firm's chairman Michel Burtin.

Group inks deals to manage resorts

HA NOI — The IHG (InterContinental Hotels Group) signed two agreements with the Lucky Star Joint Stock Co and the Thinh Vuong Joint Stock Co to manage Phu Quoc Duong Dong Beach and Cam Ranh Bay resorts.

"Emerging markets like Viet Nam represent solid, long-term growth opportunities, especially with the rise in low-cost carriers and routes, which have helped to fuel regional travel in Asia Pacific.

Viet Nam is forecasting a 35 per cent increase in visitor arrivals compared to last year. And the Government's commitment to improving infrastructure and developing new tourist destinations such as Phu Quoc, will also increase the appeal of Viet Nam as a destination," said Jan Smith, managing director of IHG Asia Australasia.

Vinamilk wins Best Under a Billion

HCM CITY — Forbes Asia has added Vinamilk to its list of Asia's 200 Best Under a Billion, making it the first Vietnamese company to join the US publication's prestigious list.

Vinamilk ranked 16th in terms of market value on the list. The company's revenue climbed by half to US$389 million through the first half of 2010, Forbes reported.

Vinamilk is expected to grow 25 per cent this year.

Military Bank in deal with SSG Group

HCM CITY — The Military Bank last week signed a comprehensive co-operation agreement with the SSG Group to operate in the real estate sector including urban areas, shopping centres, hotels and offices for lease.

MB has signed SSG's credit contract to finance the Thao Dien Pearl Project of the group with a total investment of VND950 billion (US$47.5 million).

Itochu Group builds ethanol plant

BINH PHUOC – The Japanese-owned Itochu Corporation will co-operate with PetroVietnam to break ground on an ethanol production plant in the southern province of Binh Phuoc at a capacity of 100,000 litres of ethanol per year.

The plant has a total investment capital of US$122 million and is expected to be operational in 2012.

Mircrosoft debuts new software

HA NOI — Microsoft Corporation officially debut Microsoft Lync, a new software to help people communicate more conveniently on Wednesday.

Lync is a single platform that integrates instant messaging, audio, video and web conferencing and voice through Microsoft Office, Sharepoint, Exchange among others.