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Le Van Thao at the court (Photo: VNA) Ca Mau (VNA) – The People’s Court of the southern province of Ca Mau on April 15 sentenced Le Van Thao, born in 1963 and residing in Son Doc town, Tran Van Thoi district, to nine years in prison on the charge of organising illegal entry to Vietnam for 38 people. Under the indictment of the Ca Mau People’s Procuracy, Thao, also known as Le Hoang Thao, received a phone call on January 18, 2021 from his relative Pham Hoang Lo from Malaysia and Au, a friend of Thao. Lo and Au asked Thao to use his boat to transport some people to the mainland for 25 million VND (1,083 million USD). After making the deal with Lo and Au, Thao operated his boat plated CM 99323-TS to bring 38 people from Malaysia into Vietnam illegally. His vessel has been seized. Meanwhile, the 38 illegal immigrants have been put under investigation./. VNA … [Read more...] about Ca Mau man jailed for brokering illegal entry to Vietnam

The 1,500-megawatt Ca Mau Power Plant 3 is set to begin operation in 2026 when it will produce nine billion kilowatt-hours of electricity a year and employs 2,000 locals. PV Power will require 26 hectares in Khanh An Commune to begin construction in 2022. This is PV Power’s third gas-fired power plant in the province. Ca Mau chairman Le Quan supports the project and has tasked departments with assisting the company in completing administrative procedures. Several other LNG power plants have received approval or are having feasibility studies done amid growing power demand in Vietnam. Southern Long An Province last month licensed a 3,000-MW liquefied natural gas power plant to be built by South Korea’s GS Energy and fund management company VinaCapital. The northern port city of Hai Phong has approved construction of a $5.09 billion LNG plant by America's Exxon Mobil. Singapore’s Delta Offshore Energy will build a plant in the Mekong Delta province of Bac Lieu in 2024. … [Read more...] about Petrovietnam Power to build $1.5 bln LNG plant

SOEs must complete the sale of shares within four months, photo Le Toan State-owned lender Agribank has been stuck for years with divestment efforts because its real estate assets could not be approved by the Ministry of Finance due to their large size and complex procedures. “At the end of last year, the Ministry of Finance also made a comprehensive assessment on the equitisation goal of state-owned enterprises. Specifically, only about 28 per cent of enterprises were equitised, which means that nearly three-quarters did not meet the plan. The main issue is that many large corporations’ land use rights remain unclear, as can be seen in the cases of VNPT and Agribank,” explained Chu Manh Hung, deputy head of the Equitisation Department at Agribank. “Since the equitisation plan during 2016-2020 has not been completed yet, Agribank will continue carrying out this task for the 2021-2025 period,” he added. “However, there are still major roadblocks hampering the process, … [Read more...] about Divestment slow off the blocks for banks

Roughly 20-30 per cent of the COVID-related shift to digital globally is expected to be permanent, according to a fresh report from Mastercard Put another way: in 2020, e-commerce made up roughly $1 out of every $5 spent on retail, up from about $1 out of every $7 spent in 2019. As COVID-19 kept consumers around the world at home, nearly everything from groceries to gardening supplies was purchased online. For retailers, restaurants, and other businesses large and small, being able to sell online provided a much-needed lifeline as in-person consumer spending was disrupted. Roughly 20-30 per cent of the COVID-19-related shift to digital globally is expected to be permanent, according to Mastercard’s Recovery Insights: Commerce E-volution. Roughly 20-30 per cent of the COVID-related shift to digital globally is expected to be permanent, according to Mastercard’s Recovery Insights: Commerce E-volution. The report draws on anonymised and aggregated sales activity in … [Read more...] about New Mastercard report: E-commerce a COVID-19 lifeline for merchants

The Da Nang Department of Construction has made public a list of commercial housing projects in which foreign organizations and individuals are allowed, or not allowed, to buy apartments or houses. Monarchy resort complex, one of the commercial housing projects that allows foreign organizations and individuals to own housing. This list includes 17 commercial housing projects that allow foreigners to buy and own houses: Blooming Tower Da Nang; Golden Square complex of commercial services, hotels and apartments; Quang Nguyen commercial apartment building; P.A Tower hotel and apartment complex. Apartment building No.38 Nguyen Chi Thanh (Lapaz Tower); Apartment building No. 6 Nguyen Du Street (Danang Plaza); HAGL Lakeview apartment building; Thuy Tu urban area; Monarchy resort complex; Harmony Tower Apartment building; Summit Apartments; An Vien residential area; Da Nang Green Hoa Binh Complex; Tower Garden Apartments; Azura Apartments; Da Nang estate and Da Nang … [Read more...] about Foreigners allowed to buy houses in 17 real estate projects in Da Nang