08:56 (GMT +7) - Thursday 26/04/2018

PRESS WATCH

December 25

Released at: 11:49, 25/12/2017 PRESS WATCH

December 25

VET's round-up of news from Vietnamese media for December 25.


Becamex IDC to hold second auction

A maximum of 296.46 million shares in Becamex IDC Corporation (Becamex IDC) will be offered to foreign investors at a second auction expected to be held on January 3. The shares have an initial price of VND31,000 ($1.35) apiece; the same price as at the first auction. On December 1, Becamex IDC put 311.2 million shares, equal to 23.6 per cent of its charter capital, up for sale at its initial public offering (IPO), where 149 of 158 registered investors won with bids ranging from VND31,000 to VND40,000 ($1.35-$1.76) per share. IDC only acquired VND587.7 billion ($25.87 million) from selling 18.9 million shares, or 6 per cent of those offered.

Diesel motor vehicles must meet European emission standards

Vietnam Register will cease granting safety certificates to diesel motor vehicles that fail to meet European Emission Standard 4 or higher beginning on January 1. The move is in line with the national roadmap on vehicle emission standards, which was issued in 2011.


HCMC issues bonds

Authorities in Ho Chi Minh City raised VND2 trillion ($88.07 million) from a municipal bond issue to fund urgent infrastructure projects. The city issued 20-year bonds with an annual coupon of 6.5 per cent. A representative from the Ho Chi Minh City Finance and Investment Company (HFIC), which conducted the bond auction, hailed the 20-year bond issuance as this was the first time the city had successfully sold such bonds. Principle will be paid when the bonds fall due while interest will be paid annually.

VNAT announces attendance at foreign fairs

According to a tourism promotion plan for next year prepared by the Vietnam National Administration of Tourism (VNAT), Vietnam will be attending four fairs in Northeast Asia, four in Europe, two in Southeast Asia, one in Russia, one in Australia, and one in the US. The IMEX America exhibition in Las Vegas will be the first in the US Vietnam will join. VNAT also has plans to organize market expansion programs in Western Europe, Russia, Eastern Europe, China, Japan, South Korea, Australia, and New Zealand. Dozens of programs to welcome delegations of journalists and tour operators from North America, China, Western Europe and Japan will also be held next year to attract more international tourists.


Nam Dinh building coastal road

The northern province of Nam Dinh kick-started construction of a coastal road connecting its maritime economic zone with the Cau Gie - Ninh Binh Highway. The project was approved by the Prime Minister on March 17 and runs through 17 communes and towns in Y Yen and Nghia Hung districts. The 46-km road will be built with total investment of nearly VND5 trillion ($218 million) and is expected to be completed by 2020.


PVOil to hold IPO on January 25

The PetroVietnam Oil Corporation (PVOil) is completing preparations for its initial public offering (IPO) on January 25 at the Ho Chi Minh Stock Exchange (HoSE). To join the IPO, investors are required to pay a deposit from 8am on December 22 to 4pm on January 17 with agents listed in IPO regulations issued by HoSE. PVOil will hold a roadshow in Ho Chi Minh City on January 11 and in Hanoi on January 12 to provide information on its equitization and answer questions about development potential and business opportunities.


Tourism plan approved for Dong Van Karst Plateau

The Prime Minister has approved an overall tourism development plan for the Dong Van Karst Plateau in the northern mountainous province of Ha Giang. The plan identifies key goals the government expects to achieve by 2030. Accordingly, the UNESCO-recognized Global Geopark will be developed into a national-scale tourism site. The geopark is expected to welcome 800,000 visitors, including 130,000 foreign visitors, by 2020, 950,000 visitors, including 250,000 foreigners, by 2025, and 1.1 million visitors, including 380,000 foreigners, by 2030.

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