Corporate news

NDO/VNA – The Vietnam National Petroleum Corporation (Petrolimex) and PetroVietnam Oil Corporation (PVOil) on December 15 officially supplied E5 RON92 bio-fuel for sale nationwide to replace RON 92 petrol, 15 days before a Government deadline. Petrolimex said the firm has operated E5 fuel mixers at repositories in Hanoi, Hai Phong, Da Nang, Ho Chi Minh City and Can Tho to prepare for the move. In 2018, the company will invest in two more mixers in Binh Dinh and Nghe An, lifting its total capacity to 1.8 million cu.m per year. PVOil General Director Cao Hoai Duong said the company has upgraded and expanded its storage system and operates 11 mixing stations nationwide. According to a statement released by the Government, the ban of RON 92 grade is in line with the Government’s effort to boost consumption of environmentally friendly E5. The shift will also help ensure energy security, reduce dependence on fossil fuels and implement commitments made by the Vietnamese Government … [Read more...] about E5 RON92 bio-fuel officially sold nationwide Most Recent News

NDO - A new World Bank report, jointly launched on December 14 with the Ministry of Finance, will support the development of a sound financial reporting institutional framework by improving understanding of high-quality corporate financial reporting and auditing. The report, entitled “Reports on the Observance of Standards and Codes (ROSC): Accounting and Auditing module” and part of a global initiative to improve compliance with internationally recognised standards and codes, focuses on accounting and auditing standards and practices for public interest entities, as well as the institutional framework that underpins the corporate financial reporting system. Ousmane Dione, the World Bank Country Director for Vietnam said that he hopes that this report will contribute to the successful implementation of Vietnam’s long-term strategy for sustainable and inclusive development. Linked to complementary reforms in the financial sector, the report recommends that … [Read more...] about World Bank and Vietnam work to strengthen financial systems Most Recent News

NDO - Vietnamese automaker Truong Hai Auto Corporation (Thaco) inaugurated a new bus manufacturing plant in the central province of Quang Nam on December 8, with an annual production capacity of 20,000 vehicles. Construction on the new 17-hectare facility began in September 2016 at a cost of VND7 trillion (US$308 million), enabling Thaco to produce up to 8,000 full-size buses and 12,000 minibuses per year. Thaco Chairman Tran Ba Duong said that the company has invested in a research and development centre to design buses that have a domestic content ratio of over 60%, meet Euro 4 emission standards and above, and are suitable with Vietnam’s traffic conditions. In its early days, Thaco used chassis manufactured by Hyundai for its vehicles but has been able to design and manufacture its own chassis since 2013, helping to increase the domestic content to 50%. To date, Thaco has shipped more than 14,000 buses of various segments and accounts for more than half of the bus market in … [Read more...] about Thaco opens new bus manufacturing plant in Quang Nam province Most Recent News

NDO – Various trade fairs, introducing high-quality agricultural products and handicrafts from Hanoi and other provinces across the country have taken place. Through the fairs, many high-tech applied agricultural enterprises have found more and more agents and partners, while diversifying their products, expanding their production scales and applying more advanced technology models. The result shows the important role of the units that have been organised, such as the Hanoi Promotion Agency (HPA). Thuan Thien Thanh is the Siamese custard-apple production base of young master Dang Quy Ngoc in Vinh Thoi, Lai Vung district, Dong Thap province. Starting with more than 1 hectare-land belonging to his family, he only planted clean Siamese custard-apples, then, he built the first Siamese custard-apple processing plant in Lai Vung district, Dong Thap province. So far, he has attracted many local farmers to plant clean Siamese custard-apples under his method that created stable materials … [Read more...] about Supporting agricultural enterprises Most Recent News

NDO/VNA – Prime Minister Nguyen Xuan Phuc has asked the Mekong Delta region to improve logistics to increase fruit and vegetable exports to global markets. >>> Investors’ recommendations welcomed to improve business climate: PM Phuc spoke at a forum titled “Market Development for Fruit and Vegetables, and Solutions for the Development of Logistics Systems for Agriculture and Rural Areas” held in the Mekong Delta province of Dong Thap on December 18. The PM urged the region to continue to keep up with new trends in the global market and take advantage of the fourth industrial revolution and apply advanced technologies in farming to produce the best quality fruit and vegetables. “Logistic plays a key role in enhancing competitiveness and promoting the global market for Vietnamese vegetables and fruits,” he said. Bui Quoc Nghia, head of the Vietnam Logistics Institute, said the high cost of logistics was one of the barriers reducing the … [Read more...] about PM urges better logistics for fruit, vegetable exports Most Recent News