Hanoi Glass - Venture With Bohemia Crystal

Last December, the Voice of Vietnam radio service announced that the first-ever range of crystal products made in Vietnam has been launched in the local market by a joint venture between Bohemia Crystal Corp of the Czech Republic and the Hanoi Glass Co, under the Department of Industry. The total capital of the joint venture company is about US$1.45m, with the legal capital totalling US$1.72m. 30% of the venture is held by the Vietnamese firm. The venture will have an initial annual output of around 120,000 pieces, aiming for an initial profit of about 11bn Vietnamese dong in 1997. The venture will double its capacity and export 50% of its products within the first two years of operation. (whole article)