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PRESS WATCH

April 11

Released at: 16:24, 11/04/2018 PRESS WATCH

April 11

VET's daily round-up of news from Vietnamese media for April 11.

Hanoi stadium to be rebuilt

Hang Day Stadium in Hanoi’s Dong Da district will be rebuilt under a deal signed by Vietnam’s T&T Group, which manages the stadium, and French firm Bouygues Construction. The project will start at the end of the year and cost an estimated $307 million, with T&T as the main investor.

Stoxplus: Nine renewable power project registered since June

An average of nine projects in renewable power generation and distribution have been registered every month since last June, according to the Vietnam Renewable Energy Report 2018, released by financial and business information corporation Stoxplus. The registration of the projects followed the government’s approval of a price of $9.35 cents per kWh feed-in tariff (FiT) for solar projects. According to Stoxplus, foreign and local investors are excited about renewable energy in Vietnam, which is expected to grow at 23.2 per cent annually during 2020-2030.

Saigon Co.op to open 50 Cheers stores this year

Saigon Co.op, the country’s leading retailer, will open an extra 50 Cheers convenience stores in Ho Chi Minh City in partnership with NTUC FairPrice from Singapore this year, said Mr. Nguyen Thanh Nhan, General Director of Saigon Co.op. At a 2017 review meeting for the company last week, Mr. Nhan said that Cheers stores will sell household and consumer goods and operate 24/7. There are already two Cheers stores in Ho Chi Minh City. Saigon Co.op will also open 19 Co.opmart supermarkets this year, two Co.opXtra stores, 150 Co.opSmile shops, and at least one Co.opmart hypermarket in a high-end residential area.

FLC keen on upgrading Dong Hoi Airport

Vietnamese property developer the FLC Group has expressed an interest in upgrading Dong Hoi Airport in the central province of Quang Binh under the build-operate-transfer (BOT) format. The group has sent a proposal to the Ministry of Transport, the Civil Aviation Authority of Vietnam, and Quang Binh authorities. The government has asked the ministry to consider a master plan for upgrading the airport so that it can welcome larger aircraft and meet greater air travel demand.

Ba Ria Vung Tau to support startups

The Ba Ria Vung Tau Provincial People’s Committee is working with non-profit the Startup Vietnam Foundation (SVF) to support new businesses and boost economic growth in the province. During a conference on startups attended by officials and businesses late last week, the two parties signed an agreement to promote financial aid and other investment channels and to enhance networking between investors and customers. The People’s Committee and SVF plan to devote resources to counselling and managerial training programs and build a network of investors to aid startups.

March auto sales up 70%

A total of 21,127 automobiles were sold in March, a surge of 70 per cent against February, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on April 10. There were 12,858 passenger cars sold, a month-on-month increase of 48 per cent, along with 6,949 commercial and 1,320 special-purpose vehicles, up 109 per cent and 222 per cent, respectively. In terms of origin, the number of domestically-assembled vehicles was 18,777 and imported vehicles 2,350, representing increases of 76 per cent and 37 per cent against the previous month.

IPP Group seeks to build non-tariff zone at Van Don Economic Zone

The IPP Group has proposed building a non-tariff zone at the future Van Don Economic Zone in northern Quang Ninh province in the 2018-2023 period, with total investment of VND10 trillion ($438.7 million). Chairman of the Board of Members at IPP, Mr. Johnathan Hanh Nguyen, has sent a letter to the Quang Ninh Provincial People’s Committee requesting approval of its investment policy for the entire non-tariff area at Van Don.

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