VNR to keep divesting its subsidiaries Vietnam Railway Corporation (VNR) wants to continue the divestment of its subsidiaries, aiming to improve competitiveness and attract investors to enhance efficiency after three years on a downward spiral. A report on the results of the first six months of 2018 from VNR shows that all of its business indicators are on the rise, with revenue amounting to some VND4,000 billion, up 17.8% year-on-year, and with profit reaching VND106 billion. According to the report, the growth in revenue results from a series of renovation solutions for railway services, including replacing new cars, flexibly increasing and decreasing ticket prices depending on the market demand and linking to the tourism sector to attract passengers in groups. As railway transport models are still facing challenges, VNR has been forced to continue rearranging and restructuring its mechanisms and activities to sustain its operations and develop further. Besides this, the corporation … [Read more...] about BUSINESS NEWS IN BRIEF 5/8
National party rental companies
BUSINESS NEWS IN BRIEF 2/8
Can Tho invites investors to investment promotion conferenceThe Mekong Delta city of Can Tho will hold an investment promotion conference on August 10, inviting investors for 54 projects worth nearly 124 trillion VND (5.44 billion USD). At a press conference on the conference on August 1, Chairman of the municipal People’s Committee Vo Thanh Thong said investors have already expressed interest in 44 out of the 54 projects on offer, and some are ready to start work immediately on 22 projects. He added that some projects attracted two or more investors, so the city will set criteria to select the best among them. Among the 54 projects, 21 are in real estate, 9 in culture-sports and tourism, 9 in agricultural and industrial infrastructure, 8 in transport, 4 in logistics and power, 2 in cultural-sport and health care infrastructure and 1 in information technology. Prime Minister Nguyen Xuan Phuc is expected to deliver a keynote speech and chair the conference, … [Read more...] about BUSINESS NEWS IN BRIEF 2/8
BUSINESS IN BRIEF 19/6
Nawaplastic still hungry for Binh Minh Plastic shares Owning a dominant stake in Binh Minh Plastic (BMP) did not quench Nawaplastic Industry Co., Ltd. (Nawaplastic)’s thirst for BMP shares. Most recently, Nawaplastic registered to buy an additional 1.17 million BMP shares to increase its holding to 44.525 million shares, equalling 54.39 per cent of the charter capital. The transaction is expected to occur between June18 and July16. The registered share volume is the remaining part of the 2.86 million shares that Nawaplastic failed to buy during previous transactions. Notably, Nawaplastic registered to buy 2.86 million BMP shares during transactions on May 14-June 12, however, the Thai investor ended up buying 1.69 million of the registered shares as BMP did not match Nawaplastic’s target price. BMP manufactures and trades civil and industrial products made of plastic and rubber. The company also designs, manufactures, and trades in plastic moulds for the casting industry; … [Read more...] about BUSINESS IN BRIEF 19/6
BUSINESS IN BRIEF 16/4
Poultry breeding heats up again General manager CP Vietnam Montri Suwanposri said that Vietnam’s poultry prices are closer with prices of other countries; accordingly, CP Vietnam will sell chicken to Japan after finishing paper works as per the partners’ requirement. Montri Suwanposri added that C.P in Thailand is the leading firm exporting chicken meat to Japan for years with the quantity of five million a week. There has been an increase in poutry meat orders lately because many countries banned import chicken from Brazil , an exporter of chicken to Japan, after food safety scandal. These countries switched to import chicken meat from Asian countries especially Thailand. At present, prices of poultry in hi-tech farms in Vietnam is similar to chicken prices in other Asian countries, accordingly, C.P Thailand will share its orders with Vietnamese firms and C.P Vietnam has planned to sell chicken meat to Japan in 2019. In 2017, Vietnam’s livestock sector marked its … [Read more...] about BUSINESS IN BRIEF 16/4
BUSINESS IN BRIEF 28/3
Fate of Ban Phuc Nickel remains murky The fate of Ban Phuc Nickel mine invested by Ban Phuc Nickel Mines Limited Liability Company (BPNM) remains uncertain. A representative of the Son La Department of Industry and Trade told VIR that the mine’s operation has been suspended since October last year. To date, the department has yet to receive any specific plans to resume the mine’s operation from the investor. Previously, in October 2017, BPNM officially decided to suspend the operation of Ban Phuc Nickel mine until September 30, 2018 due to the company’s massive losses. In 2007, Asian Mineral Resources Limited (AMR), a global mining group listed on the bourse in Toronto, Canada, was granted the licence to exploit and process ores in the Ban Phuc nickel ore mine, which has a reserve of more than 200,000 tonnes of nickel and 18,000 tonnes of copper. According to the initial plan, AMR will co-operate with domestic enterprise Son La Mechanical Engineering JSC to establish … [Read more...] about BUSINESS IN BRIEF 28/3
BUSINESS IN BRIEF 25/3
Hanoi eyes 159 industrial clusters by 2030 The capital city will have 159 industrial clusters, covering a total area of more than 3,200ha by 2030, baodautu.vn reports. This is pursuant to its industrial cluster development master plan for 2020 with a vision to 2030. In the period up to 2020, there will be 138 industrial clusters with an area of more than 2,620ha in the city. Of these, 52 are newly-established zones, spanning 590ha. The plan has been approved by the municipal People’s Committee. In the 2021 to 2030 period, five existing industrial clusters will be expanded, having a total area of 45.4ha, and 21 new ones, covering 536ha, will be established. According to the plant, industrial complexes which are located in the five northern districts of the city —Soc Son, Me Linh, Dong Anh, Long Bien and Gia Lam — will prioritise to attract investments in several sectors, including electronics and information technology, engineering, automotives … [Read more...] about BUSINESS IN BRIEF 25/3
Dong Thap farmer profits from thinking big
Nguyen Van Khanh in the middle of his vast field (Photo: baodongthap.com.vn) Dong Thap (VNA) - Nguyen Van Khanh, 47, earns 3-4 billion VND (132,000-176,000 USD) a year from re-producing an exciting type of rice from Japan known as DS1. To do it, he had to acquire land from relatives and friends so that he can use mechanised farm equipment to handle the large cultivation area. The Japanese strain of rice, researched for years, is soft, fragrant, very tasty and more productive than other strains, such as IR50404 which is hard, not so tasty and less productive. The concept has impressed rural and government authorities so much they are prepared to back it , seeing it as the start of a new era in national rice production which has been unchanged for centuries. The Mekong Delta farmer from Dong Thap province’s Phu Cuong village in Tam Nong district has accumulated 120ha of land to grow the new strain of rice, also known as Japonica, which has been imported by … [Read more...] about Dong Thap farmer profits from thinking big
BUSINESS IN BRIEF 22/12
Dong Nai attracts $1.3 billion FDI in 2017The southern province of Dong Nai attracted over US$1.3 billion in foreign direct investment (FDI) in 2017, $300 million higher than the set target.According to the provincial industrial zones’ management board, it has attracted 1,733 FDI projects, so far, with total investment of $31.3 billion. Investors from 45 countries and territories have invested in the locality.South Korea is the largest foreign investor in the province, following by Taiwan (China) and Japan.The board said despite laying down stricter conditions for investment projects, FDI capital that poured into the province still increased this year. In particular, disbursement reached $1.1 billion, equivalent to 88 per cent of the total registered capital.In recent years, Dong Nai has given priority to FDI projects using hi-tech, skilled labourers and are environment-friendly.Mai Van Nhon, deputy head of the board, said investors believed in the province’s support for … [Read more...] about BUSINESS IN BRIEF 22/12