Sacombank set profit to rise 25 percent


Saigon Thuong Tin Commercial Bank, Vietnam’s second-biggest bank by market value, said it expects 2008 pretax profit to rise 25 percent, which analysts say may be boosted by its real estate and stock-trading businesses.

Pretax profit is expected to rise to VND2 trillion (US$124 million) in 2008 from 1.6 trillion last year, the bank, known as Sacombank, said Wednesday.

The company also expects total assets to reach VND93 trillion this year from VND63.5 trillion last year.

Thanhniennews

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Property fair to showcase new tourism investment opportunities


Foreign investors will be briefed on the country’s tourism real estate development potential in an exhibition to be held in Ho Chi Minh City from April 17-18 at the New World Hotel.

Phuquocland East Asia Corporation, the organizer of the Vietnam Tourism Property Opportunities Conference and Exhibition, or VnTPO-2008, hopes that the event will spark investors’ interest in an increasingly attractive area: developing tourism sites.

The exhibition, entitled “Unveil the Hidden Charm,” aims to give foreign investors a broad overview of the country’s tourism landscape ranging from beaches and hotels to investment laws and potential projects.

It will feature seminars and conferences with keynote speeches by Minister of Culture, Sport and Tourism Hoang Tuan Anh and the Vietnam Chamber of Commerce and Industry’s Chairman Vu Tien Loc.

Around 300 projects to build resorts, hotels, golf courses, theme parks, and residential zones will be showcased at the fair.

The event is expected to gather over 500 foreign investors and experts in real estate, tourism and other sectors, high-ranking government officials as well as representatives from 16 provinces with tourism potential.

Experts say Vietnam is becoming an attractive destination for foreign tourists and tourism investors alike with an increasing demand for luxury villas and condos on beaches.

Last year, the country welcomed 4.2 million foreign tourists, up from the figure of 3.6 million in the year before.

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