Norwegian solar companies seek cooperation opportunity in Vietnam A group of Norway’s leading solar companies attended a Norwegian Solar Seminar in Hanoi on October 15 to look for cooperation opportunities with local partners in the solar energy sector. The event is co-organized by Royal Norwegian Embassy and Power Engineering Consulting Joint Stock Company 1 (PECC1), under the Electricity of Vietnam (EVN) with the attendance of Norweiginan Ambassador designate, Ms Grete Lochen, Commercial Counsellor Mr Harald Naevdal, General Director of EVN PECC1 Mr Pham Nguyen Hung, representatives from the Ministry of Industry and Trade, and over 70 participants from the EVN and its subsidiaries, independent power plant owners, construction companies, private investors from Vietnam and Laos, suppliers and consultants and other stakeholders. At the seminar, an energy consultant of the World Bank presents an overview of Vietnam’s solar energy, highlighting the achievements of … [Read more...] about BUSINESS NEWS IN BRIEF 19/10
Water tower place mall
Super typhoon slams into China after pummelling Philippines, Hong Kong
A woman uses her umbrella as she walks past collapsed bamboo scaffolding hanging from a building during Super Typhoon Mangkhut in Hong Kong on Sep 16, 2018. (Photo: AFP/Anthony Wallace) Typhoon Mangkhut, dubbed the "King of Storms" by Chinese media, made landfall in Haiyan town at 5pm, after wreaking havoc in Hong Kong and Macau and killing more than 50 people in the Philippines. Ports, oil refineries and industrial plants in Guangdong have been shut. Power to some areas was also reduced as a precaution. In Shenzhen, the electricity supply to more than 130,000 homes was cut at one point on Sunday. The storm has fuelled concern about sugar production in Guangdong, which accounts for a tenth of national output at about 1 million tonnes. China sugar futures rose last week on fears for the cane crop. Guangdong is also China's most populous province, with a population of more than 100 million. According to state media, two people were killed in Guangdong due to the typhoon as of 8pm on … [Read more...] about Super typhoon slams into China after pummelling Philippines, Hong Kong
A Singaporean all rounder rises high
Mapletree currently manages a portfolio of about $1 billion worth of assets under management in Vietnam Vietnam’s transformation into a market-oriented economy with two thriving business cities, a young and industrious population, and a growing middle-class underline the long-term economic potential of the country. Mapletree has grown to be one of the largest Singaporean real estate firms in Vietnam by capital, with a portfolio of about $1 billion in assets under management since first investing in this market in 2005. The group is present in all segments of the real estate field, such as large-scale mixed-use developments, grade A offices, build-to-suit designs, high-quality real estate space, logistics, industrial facilities, and serviced apartments. According to Wendy Koh, regional chief executive officer for Southeast Asia at Mapletree Investments Pte Ltd., Vietnam is currently Mapletree’s largest Southeast Asian market, outside of Singapore. “As an established … [Read more...] about A Singaporean all rounder rises high
Hanoi 2018: Investment and Development Co operation
The conference will take place on June 17 at the National Conference Center in Hanoi with the participation of 1,500 representatives. Lotte Center Hanoi is the symbol of South Korean investment in the capital Around 1,500 representatives, including leaders of the government, ministries, agencies, cities and provinces, international organisations and hundreds of investors and businesses will attend “Hanoi 2018—Investment and Development Co-operation.” About 160 projects covering various fields, including smart city, education development, hi-tech agriculture, healthcare, environment, and tourism will be introduced. Twenty Memoranda of Understanding and investment certificates are expected to be signed or granted with the total value of VND270 trillion ($12 million). Nguyen Gia Phuong, director of the Hanoi Promotion Agency, said that this is a good opportunity to create a transparent investment climate in line with the process of international … [Read more...] about Hanoi 2018: Investment and Development Co operation
Ho Chi Minh City looks underground for urban expansion
Vietnam's largest city Ho Chi Minh is seeking to forward its plan for expansion and easing traffic congestion by building underground. The planning of the city's new underground space would be finalized by 2019, with focus on the 930-hectare (2300-acre) downtown area and Thu Thiem new urban area to the city's east, according to the city's Department of Planning and Architecture. "This would open up more space for vehicles and services underground, therefore reducing traffic congestion and meeting the needs of the city's rapid development," a department official said at a meeting on Saturday. According to the plan, the department's planning team would analyze the geology, hydrology and current construction status of these areas before determining the boundaries and purposes of future underground structures. Based on the city's projected needs, these underground spaces would be filled with metro stations, car and pedestrian tunnels, parking lots and shopping centers. Ho Chi Minh City's … [Read more...] about Ho Chi Minh City looks underground for urban expansion
BUSINESS IN BRIEF 1/4
No door for return of RON92 petrol After RON92 petrol was replaced by E5 bio-fuel for about three months, several enterprises said that the consumption of E5 was lower than that of RON92 and petitioned the authorities to resume the use of RON92. However, experts and businesses have asserted that the use RON92 petrol should not be resumed. Recently, Ho Chi Minh City One Member Limited Liability Oil and Gas Company (Saigon Petro) sent an official document to the Ministry of Industry and Trade and Ministry of Finance, saying that the consumption of E5 bio-fuel in the first two months of 2018 accounted for a very low proportion of the total petrol consumption of Saigon Petro, at over 30% of total petrol consumption, while the consumption of RON92 made up 65% of the total consumption. In addition, the company said that many vehicles that require the petrol standards of E5 or RON92 have to switch to using RON95, with a higher price, which is a waste. The company also recommended the … [Read more...] about BUSINESS IN BRIEF 1/4
BUSINESS IN BRIEF 29/3
Vietnamese firms urged to deeply explore Cuban market Vietnamese, French firms urged to foster partnerships Domestic pharmaceuticals stocks send good vibes to Abbott and Taisho Since the beginning of the fourth quarter of 2018, pharmaceutical stocks have been forecast to thrive as bustling activities such as state divestitures, mergers and acquisitions (M&A), and notable investments from foreign healthcare firms are being announced left and right. Speaking about the investment and divestment activities between Vietnam-based pharmaceuticals and foreign investors, a representative of State Capital Investment Corporation (SCIC) disclosed that 34.71 per cent capital at Domesco Medical Import Export Joint Stock Corporation (HSX: DMC) is on its divestment agenda in April. US-based multinational healthcare firm Abbott has already expressed a wish to participate in the divestment. In late 2017, Latin American CFR International SpA, DMC’s former largest shareholder, transferred its … [Read more...] about BUSINESS IN BRIEF 29/3
Showcasing the Old Quarter’s charms
Capital city authorities have chosen two urban projects in the Old Quarter to help celebrate the 1000th birthday of Ha Noi next year.The first project is to double the length of the existing half a kilometre long "pedestrians-only" walkway from Hang Dao Street to Dong Xuan Market and to keep it open 24 hours a day, seven days a week instead of just during the evenings from Friday to Saturday.Cars, taxis, motorbikes and other motor traffic have been banned from the route in the evenings from Friday to Sunday since 2004. The new route will now start in Dong Kinh Nghia Thuc Square and end at the flower garden in Hang Dau Street.The second project will be the restoration of the Hang Dau water tower, which will be used to promote the culture and tourism of the Old Quarter. This vestige of colonial French architecture has not been used for about 30 years.The existing Hang Dao-Dong Xuan Market walkway has become popular with foreign tourists as well as local Hanoians.They stroll along the … [Read more...] about Showcasing the Old Quarter’s charms