ADB provides US$300m loan to BIDV to support SMEs in Viet Nam The Asian Development Bank (ADB) and Joint Stock Commercial Bank for Investment and Development of Viet Nam (BIDV) signed a US$300 million loan agreement on Wednesday to support the growth and productivity of small and medium-sized enterprises (SMEs) in Viet Nam. “The agreement includes a $200 million loan provided by ADB and a $100 million loan arranged by ADB from 12 commercial lenders,” BIDV Chairman Phan Duc Tu said at the signing ceremony. “This is the biggest commercial loan ADB has provided to an Asian commercial bank so far, affirming the development finance institution’s positive evaluation of Viet Nam’s stability and economic growth as well as its trust in Viet Nam’s banking operations in general and BIDV in particular.” He said the loan would support SMEs in Viet Nam and reaffirm their partnership with ADB in achieving poverty reduction, economic … [Read more...] about BUSINESS NEWS IN BRIEF 14/12
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Vietnam Airlines to carry Vietnamese football team on A350-900
The Vietnamese football team at Noi Bai internationl airport on December 7 (Source: VNA) Hanoi (VNA) – National flag carrier Vietnam Airlines has announced that it will use a wide-bodied Airbus A350-900 to take the Vietnamese men’s football team from Malaysia to Hanoi on December 12, one day after the first leg of the final match between Vietnam and Malaysia in the ASEAN Football Federation (AFF) Suzuki Cup 2018. As one of the world’s most modern and advanced wide-bodied aircraft, the Airbus A350-900 has been used by Vietnam Airlines on long-haul flights to European and Northeast Asian countries since 2015, with four-star quality standards. With 305 seats in cabins of business, premium economy, and economy class, the Airbus A350-900 earned Vietnam Airlines the title of “Asia’s Leading Airline for Premium Economy Class” in 2016 and 2017 from the World Travel Awards. From December 7-11, apart from two flights per day between Hanoi, … [Read more...] about Vietnam Airlines to carry Vietnamese football team on A350-900
VNA to add some 20 A321neo aircraft
VNA to add some 20 A321neo aircraftBy Le Anh An A321neo jetliner, which Vietnam Airlines received on November 17 – PHOTO: VIETNAM AIRLINES HCMC – National flag carrier Vietnam Airlines (VNA) expects to receive an additional 20 A321neo jetliners by 2019 after receiving the first batch of A321neos on November 17. The projected addition is the next stage of the airline’s fleet renewal program following its successful switch to Boeing 787-9 and Airbus A350-900 aircraft. Airbus’ Chief Commercial Officer Christian Scherer noted that A321neo aircraft, which offer a reduction in fuel consumption of at least 15% per seat and can be combined with some 60 A321ceo aircraft, will enhance the competitiveness of VNA in the market. With the A321neo fleet, VNA is the first airline in Vietnam to offer a wireless streaming entertainment system, providing high-quality videos, films, music and more. As such, passengers using laptops, smartphones or tablets in Airplane Mode … [Read more...] about VNA to add some 20 A321neo aircraft
BUSINESS NEWS IN BRIEF 19/11
Vietnam Airlines receives first Airbus A321neo plane The national flag carrier Vietnam Airlines has received its first Airbus A321neo from US-based Aviation Capital Group (ACG) in Hamburg, Germany earlier this week. The new aircraft will be used for domestic flights and routes connecting destinations in Southeast Asia. It is among the 20 new-generation A321neo planes the airline plans to lease from the ACG, ICBC Leasing of China, and US-based Air Lease Corporation (ALC), expected to be fully delivered by the end of 2019. These planes will help expand its aircraft fleet to about 110 in 2020. Khanh T. Tran, president and CEO of ACG, expressed his delight at the delivery and stressed the company looks forward to Vietnam Airlines operating these highly fuel-efficient aircraft in their growing route network. For his part, Vietnam Airlines’ president and CEO Duong Tri Thanh said his firm selected the Airbus A321neo for its exceptional operational performance with 15-20 percent … [Read more...] about BUSINESS NEWS IN BRIEF 19/11
Now boarding: Passengers ready for world’s longest flight
Two pilots, a special "wellness" menu and more than seven weeks' worth of film and television entertainment were expected to accompany travellers on the 16,700-kilometre (10,400-mile) journey to the Big Apple. Singapore Airlines Flight SQ22 will use the long-range Airbus A350-900ULR, configured to carry 161 passengers -- 67 in business class and 94 in premium economy. For the flight crew -- which also includes two first officers and a 13-strong cabin contingent -- the work load will be broken up, the airline said, with every person getting a mandatory minimum four hours' rest. But for passengers, the challenge will be what to do with all that down time up in the air. Dining options will include dishes the airline says have been selected to promote well-being in the skies, with organic dishes on the menu. The cabin has higher-than-normal ceilings, larger windows and lighting designed to reduce jet lag -- all part of an effort to lessen the stresses that can accompany almost a day on a … [Read more...] about Now boarding: Passengers ready for world’s longest flight
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 4/7
Vietnam Airlines adopts QR Pay Vietnam Airlines has signed a deal with Việt Nam Payment Solution Joint Stock Company (VNPAY) – the biggest QR code payment firm in Viet Nam, to apply QR code technology for online ticket bookings. With the deal, Vietnam Airlines becomes a pioneer in Việt Nam’s aviation sector by using QR codes for online ticket booking at :vietnamairlines.com Customers will have a new, safer and more convenient way to pay for their flights. Accordingly, QR Pay will be implemented both online and at Vietnam Airlines’ official ticket office system nationwide from the beginning of this month. After successfully booking their tickets, customers will be able to use the QR code to pay without entering bank account of card information. The QR Pay system ensures safety thanks to two-factor verification including mobile banking sign in and one-time pass (OTP) through SMS or fingerprint verification. Payments via smartphones have risen in the last … [Read more...] about BUSINESS IN BRIEF 4/7
BUSINESS IN BRIEF 6/6
VN garment sector to boost export growth The domestic textile and garment industry is expected to sustain growth in exports in the coming months, according to the Viet Nam Textile and Apparel Association (VITAS). Truong Van Cam, VITAS vice chairman and general secretary, said many textile and garment companies had signed contracts to produce export products in the third quarter of this year. Many Vietnamese garment firms had also sustained high growth this year in traditional markets such as the United States, the Republic of Korea, the European Union, and member-states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Cam said a series of recently-signed free trade agreements (FTAs) was expected to boost the sector. Since 2001, Viet Nam had signed bilateral trade agreements with the US, Japan, China, and the Republic of Korea, as well as Australia, New Zealand, and India, and joined the World Trade Organisation. However, global demand for textiles … [Read more...] about BUSINESS IN BRIEF 6/6
International know how to help local fruit exports
The tale of the tropical fruit Some ten years ago, a New Zealander living in a provincial town would hardly have known what dragon fruit tasted like, let alone other exotic fruits like rambutan. Yet now, dragon fruit imported from Vietnam has become exceedingly popular at provincial supermarkets in New Zealand, according to Emmet McElhatton, commercial manager of the New Zealand Government-to-Government Partnerships Office (G2G Know-How). McElhatton said that the tropical fruit market in New Zealand is rapidly growing, thanks to the exposure to new flavours that Kiwi travellers have gained after their visits to tropical destinations. “[Our] supermarkets are more willing now to stock different products and consumers are really demanding variety,” McElhatton said. For Vietnamese fruit exporters, the commercial manager stressed that it is important to “get the flavour profile right for all consumers” when looking to export their fresh produce to New Zealand. … [Read more...] about International know how to help local fruit exports
Mondelez Kinh Do ready for a strong tet campaign
The year is drawing to a close and companies in all sectors, especially confectionery, are in a race to stimulate the year-end festive season consumption. Mondelez Kinh Do, a subsidiary of Mondelēz International, seeks to advance its advantage and conquer the Tết market. The company’s CEO, Stephane Gripon, talks about plans for this peak season.There are only two months left for Tet. How does the New Year snack and cake market look this time?Everyone knows that Tet is the peak season for fast-moving consumer goods (FMCG), including biscuits and cakes. The snack market is also growing faster than the GDP and consumer goods segment growth rates. The Biscuit and Cake market will close the year 2017 with double digit growth.Tet is very important because the gifting occasion contributes 40 per cent of Biscuits and Cake Pie revenue in urban market (includes 4 key cities: Ha Noi, HCM City, Da Nang, Can Tho); contributes 51 per cent of Biscuits and Cake Pie revenue in rural … [Read more...] about Mondelez Kinh Do ready for a strong tet campaign