Western Union wins business award
HCM CITY — Global payment service provider Western Union Company has won the Asian Banker's Excellence in Remittance business award for the second year in a row. The award covers the Asia Pacific, Central Asia and the Middle East. "WU's market leadership in the remittance business in a difficult year was reinforced by higher growth and profitability, innovative network and channel expansion which differentiated it from a strong list of nominees," said Asian Banker.
Cherry grower plants Costa Rican variety
TIEN GIANG — Hiep Phat Co has planted Costa Rica sour cherry plants on a 20-ha area in southern Tien Giang Province to supply fruits for processing and exporting.
The orchard, aims to turn out nearly 1,000 tonnes of fruit annually, spreads over Go Cong Dong District, where the company has its cherry-processing factory, and Go Cong town and has been jointly developed along with the district and town authorities.
Hiep Phat Co will supply seeds to farmers, collecting money for them after three years. The first crop will be harvested in three years' time.
MoIT, Malaysian firm sign pact on power
HA NOI — The Ministry of Industry and Trade (MoIT) and Malaysia's Janakuasa company on Wednesday agreed on a US$1.5 billion deal to construct the Duyen Hai 2 thermal power plant.
The plant, which will be built in Duyen Hai District, southern Tra Vinh Province, will begin construction in 2011. It is expected to become operational in 2014 or 2015 and to have a capacity of 1,200MW.
The newly-signed Memorandum of Understanding provides a foundation for both sides to start negotiations on relevant contracts, including an electricity purchase deal.
Coffee maker union debuts in Dak Lak
DAK LAK — The provincial city of Buon Ma Thuot launched a coffee production union in the Central Highlands province of Dak Lak on Wednesday, with a total investment capital of VND8.7 billion (US$0.45 million) over two years.
The coffee production union, named Dak Man-Hoa Dong and Ea Tu Coffee Production Union, will occupy an area of 342ha. It is the second coffee production union under the agriculture competition project, which was funded by the World Bank. — VNS