Vietnam Australia Relations

English language joint venture in Danang

June 2007: The English Language Institute, a joint initiative of the University of Danang, Vietnam, and the University of Queensland opened in Danang. The Institute is located on the main campus of the University of Danang in custom-built premises and provides high quality English language and corporate training

Santos Signs Exploration deal with Petrovietnam

October 2006: Santos signed a Production Sharing Contract (PSC) with the Vietnam Oil and Gas Corporation (Petrovietnam) and the Singapore Petroleum Corporation (SPC) for a venture in the Song Hong Basin, continuing its plans to expand its operations in Vietnam. Santos announced its first entry into Vietnam in April 2006 with commencement of drilling at Dua in the Nam Con Son Basin.

RMIT International University Vietnam opens new campus in Ho Chi Minh City

2005: The Royal Melbourne Institute of Technology International University Vietnam opened a new campus south of Ho Chi Minh City, with over 500 students. RMIT’s Hanoi campus offers a Bachelor of Commerce degree, an MBA for part-time students, and a Masters of Education as well as preparatory courses in English. RMIT was granted a licence to operate its first campus in 2000 and remains the only fully foreign-owned university in Vietnam.

BlueScope Steel begins production at new steel mill

Late 2005: BlueScope Steel completed its US$105 million flat steel metallic coating and painting facility in the southern province of Ba Ria-Vung Tau. The mill has an annual production capacity of approximately 125,000 tonnes of metallic coated steel and 50,000 tonnes of painted flat steel products.

QBE enters new phase

2005: QBE Insurance entered a new phase of operations in Vietnam, selling its stake in a joint-venture insurance company to local partner BIDV and taking over a 100 per cent foreign-owned insurance company from Allianz.

Commonwealth Bank opens representative office

2005: Commonwealth Bank opened a representative office in Ho Chi Minh City, in addition to its long-standing insurance joint venture with a local partner (Bao Minh Insurance).

ANZ outbids other offshore banks for a 10 per cent stake in Vietnam's Sacombank

March 2005: ANZ acquired a 10 per cent stake in Sacombank, reputedly Vietnam's biggest retail banking network. ANZ is currently the largest foreign bank in Vietnam, with branches in Hanoi and Ho Chi Minh City and a total of 24 ATM service locations.

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