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January 18

Released at: 13:50, 18/01/2018 PRESS WATCH

January 18

VET's round-up of news from Vietnamese media for January 18.

Maritime Securities now KB Securities Vietnam

The Hanoi-based Maritime Securities Incorporation (MSI) has been officially renamed KB Securities Vietnam (KBSV), confirmed under Decision No. 07/GPDC-UBCK from the State Securities Commission. Established in June 2008, KBSV became a member of South Korea’s leading financial institution the KB Financial Group (KBFG) on October 9, after KB Securities (a KBFG subsidiary) purchased a 99.4 per cent stake.

Phu Long real estate picks up stake in Splendora

The full holding of South Korea’s Posco E&C Co., equal to a 50 per cent stake, in Splendora in Hanoi has been sold to the Phu Long Real Estate JSC, owned by billionaire Ms. Nguyen Thi Phuong Thao. Under Sovico Holdings, Phu Long’s major projects include Dragon City (33 ha), Dragon Riverside City (3.1 ha), Dragon Village (21.6 ha), HDBank Tower, and Sovico Phu Quoc. It raised its charter capital at the end of last year from VND700 billion ($30.85 million) to VND3 trillion ($132.2 million).

VietBamboo Airlines to begin air transport

The Ministry of National Defense has given the green light to an air transport project of VietBamboo Airlines, a subsidiary of the FLC Group. The airline has provided details about its structure, capital, flight network, fleet, and plans to use Phu Cat Airport in south-central Binh Dinh province, in accordance with the Law on Civil Aviation and the government’s Decree No. 92 on conditional business sectors or activities in the civil aviation industry. With charter capital of VND700 billion ($30.8 million), the airline will provide regular and low-cost services. It will operate domestic flights using Airbus A320, Airbus A321, and Boeing B737 narrow-body aircraft from 2019.

Environmental protection tax on fuel delayed

A plan to slap an environmental protection tax of VND3,000-8,000 on every liter on fuel, up from the current VND1,000-4,000, will be resent to the National Assembly (NA) in October next year, effectively putting off the tax hike. Deputy Prime Minister Vuong Dinh Hue assigned the Ministry of Finance to coordinate with the Ministry of Justice and other relevant ministries, agencies, and localities to review and complete the draft of the amended environmental protection tax law, including new environment protection tax rates, and submit it to the NA for approval next year. The NA Standing Committee discussed the draft law on September 13 last year.

Scheme addressing violence against women to come

The Ministry of Labor, Invalids and Social Affairs (MoLISA), the Korean International Cooperation Agency (KOICA), and the United Nations Population Fund (UNFPA) in Vietnam have launched a project creating a model that will respond to violence against women and girls in Vietnam. With a total budget of over $2.5 million, the scheme will be managed by UNFPA and implemented by the Department for Gender Equality at MoLISA and the Quang Ninh Social Work Center (SWC) from 2018 to 2020.

Chongqing Airlines opens Hanoi route

The China-based Chongqing Airlines has opened a direct service linking Chongqing, a major city in southwest China, and Hanoi. Flights depart Chongqing at 9.15am on Tuesday, Thursday, Saturday, and Sunday, and return from Hanoi at 2.45pm on the same days (all local times). Chongqing Airlines will use Airbus 320 aircraft for the flights and expects to welcome an average of 150 passengers on each flight.

Illegal, unreported, and unregulated fishing White Book released

The Vietnam Association of Seafood Exporters and Producers (VASEP) has published its White Book on fighting illegal, unreported, and unregulated (IUU) fishing in Vietnam. The bilingual book, in Vietnamese and English, has five chapters and provides detailed information on Vietnam’s fisheries sector and regulations on IUU fishing and enforcement in the country. The book also reports on Vietnam’s efforts to remove the warning under the European Commission’s “yellow card”, the Vietnamese Government’s long-term action plan against IUU fishing, and recommendations made by stakeholders in the seafood value chain.

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