A Vietnamese private investment group has told the Ministry of Transport it wants to buy Phu Quoc International Airport in the southern province of Kien Giang. Phu Quoc International Airport T&T Group has proposed to either buy the airport outright, with a guarantee not to sell it for five years, or acquire the operating rights to it, depending on the preference of the ministry. The airport, with investment of VND3trn (USD142.85 million), started operations in December 2012. It has an annual capacity of 2.6m passengers. Phu Quoc Island is seen as a big eco-tourism centre in the Southeast Asian region. It is home to a national park and a marine reserve. The island has attracted many big investment projects. At a meeting with Kien Giang Province’s authorities on March 10, Macau’s Sun City Group expressed interest to build a hotel and casino project in the island. … [Read more...] about Local investment group wants to buy Phu Quoc Airport
The agreements were signed in Paris on March 26 by Trinh Van Quyet, Chairman of FLC Group and Eric Schulz, Chief Commercial Officer, Airbus during the official visit to France of Nguyễn Phú Trọng, General Secretary of the Central Committee of the Communist Party of Vietnam. Bamboo Airways is set to begin operations in 2019 with aircraft on lease from third party lessors before taking delivery of the aircraft covered by today’s MOU with Airbus. The carrier will focus on linking international markets to Vietnamese leisure destinations, as well as on selected domestic routes. "After evaluating carefully the competing products, FLC Group and Bamboo Airways have selected the A321neo as the most efficient option for our new operation,” said Trinh Van Quyet. “The A321neo will enable us to combine comfort, efficiency and the right capacity for our planned services, which will primarily serve fast growing leisure markets in Vietnam.” … [Read more...] about FLC Group selects A321neo for Bamboo Airways
Viettel Peru's profit before tax exceeded the plan and increased by 2.5 times over the same period last year, while revenue growth reached double digits (Photo: ictnew.vn) Hanoi (VNS/VNA) - Bitel, a subsidiary of the Viettel Military Industry and Telecoms Group in Peru, reported that its total revenue reached 274.2 million USD and profit before tax of 24.5 million USD in the first nine months of this year. Viettel Peru's profit before tax exceeded the plan and increased by 2.5 times over the same period last year, while revenue growth reached double digits. Currently, Bitel is operated by the Viettel Foreign Investment Joint Stock Corporation (Viettel Global), but Bitel's business results have not been incorporated into Viettel Global's report due to the law provisions in Peru. Therefore, if calculating the total profit from foreign investment activities in the first nine months of this year made by Viettel Global, the figure will be more than 91 million USD, of … [Read more...] about Viettel Peru gains more than 24.5 million USD in 9 months
An apparel factory of the Far Eastern New Apparel Vietnam company in Bac Dong Phu Industrial Park of Binh Phuoc province (Photo: VNA) Paris (VNA) – President of the France-Vietnam Friendship Group at the French National Assembly Stephanie Do said the group strongly backs the signing and ratification of the EU-Vietnam Free Trade Agreement (EVFTA), which she described as a gateway for EU and Vietnam to access each other’s market more easily. In an interview granted to the Vietnam News Agency’s correspondent in Paris ahead of an official visit to France by Chairwoman of the Vietnamese National Assembly Nguyen Thi Kim Ngan, the MP said the EVFTA plays an important role in promoting economic and commercial exchange, benefiting both the EU and Vietnam. She noted that France is the 16th biggest foreign investor in Vietnam, but accounts for less than 1 percent of the Vietnamese market. France wants to develop strongly bilateral relations in all aspects, so as to … [Read more...] about French parliamentarian backs EU-Vietnam free trade agreement
Hefty investments Among 70 countries and territories in which Vietnamese have investments, Laos, Cambodia and Myanmar are the three biggest target markets. Laos is the biggest FDI recipient from Vietnam, having accepted $5 billion worth of registered investments. In January 2017, Viettel received an investment license for setting up a telecom network in Myanmar – Mytel. BIDV in 2016 got a license to set up a branch in Myanmar – BIDV Yangon with charter capital of $85 million. The dairy factory Vinamilk built in Cambodia became operational in 2016, while the Vietnam Rubber Group began processing rubber latex in 2015. Hoang Anh Gia Lai Group is one of the biggest outward investors. In addition to a series of projects on agriculture production in Laos, in 2015 built the Attapeu international airport worth $36 million and HAGL Center worth $550 million in Myanmar. In 2016, it kicked off the second phase of HAGL Center and joined forces with Melia Hotel to run a … [Read more...] about How are Vietnamese businesses performing in Laos, Cambodia, Myanmar?