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February 13

Released at: 14:28, 13/02/2018 PRESS WATCH

February 13

VET's round-up of news from Vietnamese media for February 13.

Third waterway opened at Trang An Scenic Landscape

The Xuan Truong Construction Company has opened a third waterway at the Trang An eco-tourism site for those visiting the Trang An Scenic Landscape complex. Visitors begin their boat journey by embarking at Trang An Wharf before being ferried to destinations such as Trinh Temple, May Cave, Tien Stream, Dia Linh Cave, Dai Cave, Hanh Cung Vu Lam, and the location where “Kong: Skull Island” was filmed. The journey takes three to four hours.

January State budget revenues up 5.2%

State budget revenues in January are estimated at VND114.2 trillion ($5 billion), up 5.2 per cent over January 2017, the Ministry of Finance has reported, representing 8.7 per cent of the 2018 target. Domestic contributions were VND95.5 trillion ($4.2 billion), down 1.4 per cent year-on-year.

Singaporean security solutions provider acquires major stake in local concern

The Singapore-based security solutions provider the Ademco Security Group has announced its acquisition of a majority stake in a Vietnamese security firm as part of plans to boost its overseas revenue by 50 per cent over the next three years. In partnership with the International Enterprise (IE) Singapore, Ademco bought a 60 per cent stake in the TNT Technologies Joint Stock Company (TNT), a high-end integrated security solutions provider. TNT’s existing owners will hold the remaining 40 per cent. The acquisition is Ademco’s first deal in Vietnam and marks its seventh addition to the company’s geographical footprint across Singapore, China, India, Malaysia, and the Philippines. It also plans to establish a global regional presence in 14 markets by 2020.

Domestic market key for wood industry

The wood industry should focus on the domestic market this year to realize the goal of $4 billion in revenue and also increase export value to $10 billion, Minister of Agriculture and Rural Development Nguyen Xuan Cuong has said. Vietnam shipped $709 million worth of timber furniture in January, an increase of 18.5 per cent year-on-year. The US, China, and Japan were the three largest markets.

Phu Quoc to raise pepper output

The island district of Phu Quoc off the coast of the Mekong Delta’s Kien Giang province aims to produce at least 1,200 tons of pepper in 2018. According to the Deputy Chairman of the District People’s Committee Huynh Quang Hung, the island has about 520 ha of pepper plants, mainly in Cua Duong, Cua Can, and Duong To communes. To develop its pepper output, quality, and economic efficiency, the island is providing farmers with cultivation techniques to prevent disease and is investing in building an irrigation system for the dry season.

Overseas remittances vital to economy

Overseas remittances will continue adding vital impetus to the economy, including the property sector, in 2018, according to Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association. Remittances were estimated at $13.8 billion last year, up 20 per cent against 2016’s $11.5 billion.

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