Binh Quoi-Thanh Da urban area project attracts 10 potential investors An aerial view of Binh Quoi-Thanh Da Peninsula Ten entities have so far put their names down to join a public tender for developing the Binh Quoi-Thanh Da ecological urban area, according to the HCMC Department of Planning and Investment. The municipal Department of Planning and Investment is in the process of preparing draft regulations for the tender and will then submit them to the city’s government for approval. To select financially capable participants, the city will issue some requirements, including placing deposits or pledging a certain amount of money to ensure the project will be executed as planned. The roster of these firms includes Roytrade Company; FED Vietnam; Petro Dong Nam A Trading Co., Ltd.; an alliance between Golden Star and another firm; an alliance of Thuan Tuan Service and Trading Investment JSC and Golden Wealth Global Pty Company; Environment and Traffic Congestion Handling JSC; Gia … [Read more...] about BUSINESS NEWS IN BRIEF 16/3
Leads environmental health products corp
Government News 26/1
HCM City leaders warmly welcome Overseas Vietnamese back home for Lunar New Year celebration HCM City leaders award certificates of merit to 19 people with outstanding achievements in overseas work and contributions to the city. HCM City leaders held a reception yesterday for a delegation of 800 Overseas Vietnamese (OV) from 26 countries and territories on the occasion of Tết 2019 (Lunar New Year). On behalf of the city government, Nguyễn Thiện Nhân, secretary of HCM City Party Committee, extended his warmest greetings to the OV community, while applauding their contributions to the development of the country and HCM City in particular. Nhân said the city would continue to foster reforms, industrialisation and the modernisation process, and international integration. He expressed his hope that 800 overseas Vietnamese at the meeting would enhance solidarity, treasure traditional cultural identity, and serve as a bridge to connect Việt Nam … [Read more...] about Government News 26/1
BUSINESS NEWS IN BRIEF 1/11
The upcoming Vietnam Digital Economy Forum (VDEF) 2018 will include special sessions which focus on Vietnam’s digital economic perspectives, featuring local and international keynote speakers. The VDEF 2018, whose theme is “Challenges and strategic solutions for small- and medium-sized enterprises (SMEs) in the Fourth Industrial Revolution,” will take place on Thursday, November 1, at the Rex Hotel in District 1, HCMC. The forum is co-sponsored by the Association of Vietnam Scientists and Experts, and Quang Trung Software City, as well as by the HCMC People’s Committee. Some 20 policy makers and leading experts at home and abroad from the digital economy industry, together with 500 guests from ministries, organizations and enterprises, are expected to join this event. The Fourth Industrial Revolution has been impacting the structures that make up the foundations of the global economy and society. Every day, millions of people benefit from innovative products and … [Read more...] about BUSINESS NEWS IN BRIEF 1/11
BUSINESS NEWS IN BRIEF 23/10
Vietnam, EU reiterate commitment to trade, investment deals The Vietnamese Government and the European Commission (EC) have pledged to carry out the Europe-Vietnam Free Trade Agreement (EVFTA) and the Investment Protection Agreement (IPA) in a timely and effective manner. The commitment is expressed in a joint statement issued by Vietnam’s Minister of Industry and Trade Tran Tuan Anh and European Commissioner for Trade Cecilia Cecilia Malmström following their meeting on October 19 in Brussels on the sidelines of the 12th Asia-Europe Meeting Summit (ASEM 12). The statement said the Vietnamese Government is preparing plans to fulfill obligations under the free trade agreements while the EC stands ready to support the necessary reforms and adjustments through technical assistance. Both sides acknowledged the relevance of the trade and sustainable development chapter of the FTA and agreed to jointly promote initiatives in this field, including the ratification of the … [Read more...] about BUSINESS NEWS IN BRIEF 23/10
BUSINESS NEWS IN BRIEF 1/9
Vinatex completes 65% of yearly revenue target Viet Nam National Textile and Garment Group (Vinatex) has completed 65 per cent of the yearly target set for total revenues with its eight-month result (excluding VAT) reaching over VND31.45 trillion (US$1.34 billion). This figure also represented a rise of 7 per cent against the same period last year, the textile group reported in a filing to the Ministry of Planning and Investment. In August alone, it earned VND4.48 trillion in revenue, down 5 per cent year-on-year, of which turnover of the parent company and subsidiaries with its holdings of over 50 per cent capital reached almost VND1.74 trillion. Revenues from other affiliate companies in which the group holds less than 50 per cent capital reached a combined VND2.74 trillion. Vinatex attributed the growth in total revenues to increases in sales of fibre products (96,051 tonnes, up 9.5 per cent year-on-year), fabric of all kinds (100.7 million m3, up 18.6 per cent) … [Read more...] about BUSINESS NEWS IN BRIEF 1/9
Government News In Brief
Vietnam-India ties enjoy substantive development: Ambassador Vietnamese Ambassador to India Ton Sinh Thanh The comprehensive strategic partnership between Vietnam and India is enjoying dynamic and substantive development, according to Vietnamese Ambassador to India Ton Sinh Thanh. The ambassador granted an interview to the media on the Vietnam-India ties on the occasion of the 30th Diplomatic Conference to be held from August 12-17 in Hanoi. Ambassador Thanh said there are four outstanding points in the two countries’ relationship during the past two years. First of all, the bilateral political relationship and mutual trust have been strengthened thanks to the constant exchange of high-level visits. During the visits, the two countries have signed 17 more agreements on cooperation across the fields. Second, defence-security cooperation has reached the highest level ever, with its scope covering all military forces and the content expanded beyond … [Read more...] about Government News In Brief
Social News 7/8
Legal framework for child care on the internet Vietnam, with 64 million Internet users (67% of its population), is among Asian countries having the biggest number of Internet users. A majority of these users are children and teenagers, who are exposed to both benefits and dangers. In addition to close attention from parents and schools, a legal framework is needed to protect children from the risks of the cyber world. While browsing the Internet, children may encounter unexpected information and people. Their personal information can be hacked. More seriously, children can become victims of swindles, exploitation, harassment, and sex abuse. Online game and smartphone addictions can harm children’s mental and physical health. Parents should teach children how to find and use information on the Internet. Dang Hoa Nam, Director of the Department for Children of the Ministry of Labor, Invalids, and Social Affairs, said, “Parents play a very important role. They should be … [Read more...] about Social News 7/8
Social News 7/7
Vietnamese press expands international cooperation President of the Vietnam Journalists Association Thuan Huu The Vietnamese Journalists Association (VJA) and the Foreign Press Association in Switzerland and Liechtenstein (APES) have agreed to extend the two-year cooperation agreement they reached in late 2017. The consensus was reached during a meeting between VJA President Thuan Huu and APES President Jean Musy as part of a VJA delegation’s working visit to Switzerland from June 29-July 4. Accordingly, the two sides will continue delegation exchange. In November 2017, an APES delegation headed by its President Jean Musy paid the first-ever visit to Vietnam. While in Geneva, the Vietnamese journalists had a working session with Delegate to International Geneva Olivier Coutau, who briefed his guests on the history, politics and administrative system of the Geneva city and state. Geneva houses the headquarters of the United Nations (UN) and … [Read more...] about Social News 7/7
BUSINESS IN BRIEF 5/7
1H FDI disbursement at $8.37 bn FDI projects were estimated to have disbursed $8.37 billion in the first half of this year, up 8.4 per cent year-on-year. Vietnam had 25,953 valid projects as at the end of the first half, with total registered capital of $331.24 billion. Total disbursed FDI capital was estimated at $180.74 billion, or 54.6 per cent of total registered capital in valid projects. Foreign investors have invested in 19 out of the 21 sectors in Vietnam to date, in which processing and manufacturing accounted for the highest proportion, with $189.13 billion, or 57.1 per cent of total investment capital, followed by real estate with $56.2 billion, or nearly 17 per cent, and the production and distribution of electricity, water and gas, with $21.92 billion, or 6.6 per cent. Valid projects come from 128 countries and territories. South Korea ranks first, with total registered capital of $61.67 billion, accounting for 18.6 per cent of the total. Japan ranked second, with $55.45 … [Read more...] about BUSINESS IN BRIEF 5/7
BUSINESS IN BRIEF 28/1
One more project in the red for VinachemA Laos-based potassium salt mining and processing project is the fifth million-dollar loss-making project of Vietnam National Chemical Group (Vinachem) and the thirteenth of the Trade and Industry sector.The total investment of this Vinachem project is $522 million, including $105 million from Vinachem, $113 million from Vietnam Development Bank (VDB), $161 million from Bank for Investment and Development of Vietnam JSC (BIDV), and $143 million from VietinBank.The project’s scope of exploration is 10 square metres. It is expected to be built within five years and start exploration from 2020, producing 320,000 tonnes annually. However, after two years of construction, the project has stalled in 2017.In 2017, the 20 subsidiaries of Vinachem recorded a total profit of nearly VND2.2 trillion ($100 million), but four projects had a negative revenue of VND2.115 trillion ($93.2 million). Earlier, in the first days of 2018, Deputy Prime … [Read more...] about BUSINESS IN BRIEF 28/1