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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: Scotsman who wrote (15002)	11/30/2000 4:45:37 PM
From: bob zagorin	Read Replies (1) \| Respond to of 19080

Oracle(R) Lays Foundation to Build Global B2B E-Market for Vietnam Major B2B Initiative to Enhance the Export of Global Goods and Services to Vietnam REDWOOD SHORES, Calif., Nov. 30 /PRNewswire/ -- ( oracle.com ) Oracle Corporation (Nasdaq: ORCL), the largest provider of software for e-business, announced the signing of a Memorandum of Understanding (MOU) between Oracle Vietnam Pte. Ltd. (Oracle Vietnam) with the People's Committee of Danang City. The MOU outlines a framework for the design, development and creation of a global B2B e-market for Vietnam to help bolster import-export activities of local companies and to strengthen domestic and international trade relations. Vietnam's economy has undergone rapid growth in recent years, with extremely high demand for the development of two-way foreign trade between the United States and Vietnam. With import and export trade expected to reach US$30 billion for the year 2001 and the import of goods and services estimated to grow to approximately US$16 billion in 2001, this B2B e-market will contribute heavily to the development of Vietnam's two-way foreign trade. The B2B e-market, scheduled to come into operation by 2001, will also permit direct access between buyers and sellers, enhancing the export of global goods and services to Vietnam. Under the terms of the MOU, the Vietnam B2B e-market will use Oracle technology to support a collaborative environment where organizations can come together and conduct business, building many-to-many relationships over the Internet. Oracle will also provide technical support, education and training toward the establishment of the e-market. During its initial phase, the B2B e-market will target up to 300 buyers and suppliers across all industries in a collaborative effort with Vietnam's own Ministry of Trade. "The rapid proliferation of global Internet usage across various industry sectors is forcing every business and company in Vietnam to come to terms with a single mandate: Either incorporate the Internet into the business or be left behind. There is also considerable pent-up demand for Internet solutions among international companies doing business in Vietnam," said Nguyen Ba Thanh, Chairman of the People's Committee of Danang City. "Oracle has the breadth and depth of technology and e-business expertise to help us deliver a global B2B e-market that will maximize our economic opportunities and support the needs of a progressive nation." With the recent signing of a Bilateral Trade Agreement between Vietnam and the United States, this B2B e-market is expected to enhance the two-way foreign trade process and make it easier and more cost-effective for Vietnamese companies to access foreign companies and vice-versa. About Oracle Oracle Corporation provides the software that powers the Internet. For more information about Oracle, please call 650-506-7000. Trademarks Oracle is a registered trademark of Oracle Corporation. Other names may be trademarks of their respective owners. SOURCE Oracle Corporation CO: Oracle Corporation; Oracle Vietnam Pte. Ltd.; People's Committee of Danang City ST: California, Vietnam IN: CPR MLM SU: CON 11/30/2000 08:00 EST prnewswire.com