19 November 1998: A group of representatives from subsidiaries of the Vietnam Glass and Ceramics Corporation (Viglacera) is to leave for South Korea to discuss the purchase of equipment from companies…
19 November 1998: A group of representatives from subsidiaries of the Vietnam Glass and Ceramics Corporation (Viglacera) is to leave for South Korea to discuss the purchase of equipment from companies going bankrupt there, a press report has said. Mr. Tran Quoc Thai, director of the Consulting and Investment Company under Viglacera, said four projects are currently under negotiation to import machinery for producing tiles and bricks, and equipment for manufacturing machinery to produce construction materials. Viglacera is also proceeding with the signing of a contract to export materials used for glass and ceramic production to South Korea. Early next month, a number of Viglacera affiliates will leave for South Korea to conduct another survey of the equipment they plan to buy, and to sign contracts. “The selling of used equipment at low prices in South Korea provides a good chance for Vietnam to upgrade its machinery. Our only regret is that our pockets are not deep,” said Mr. Thai. Since the crisis hit South Korea, many Vietnamese businesses have gone there to buy low-priced used equipment for the plastics and mechanical engineering sectors, the report said. The Vietnam Paper Corporation is also negotiating with South Korean companies to buy equipment for its affiliates.