02:40 (GMT +7) - Sunday 19/08/2018

PRESS WATCH

January 23

Released at: 14:15, 23/01/2018 PRESS WATCH

January 23

VET's round-up of news from Vietnamese media for January 23.


Tien Giang to invest in traffic infrastructure

The Mekong Delta’s Tien Giang province plans to invest VND110 billion ($4.84 million) in 270 traffic projects to further the National Target Program for New Rural Areas and improve traffic conditions in the Dong Thap Muoi area.

CDH Electric Bee sells MWG shares

Investment fund CDH Electric Bee Limited has again sold shares in the Mobile World Investment Corp. (MWG), according to a notice from Vietnam Securities Depository (VSD). Some 1.23 million MWG shares were sold to four investors: Viola Ltd, the KB Vietnam Focus Balanced Fund, the Aberdeen Frontier Markets Investment Co. Ltd, and Florida Retirement System. VSD completed the sale on January 18.


VinFast buys sedan and SUV designs

The VinFast Trading and Production Company Limited, a subsidiary of Vingroup, signed a contract with leading Italian designer Pininfarina last week to buy two designs for sedans and SUVs and at the same time secured the intellectual property rights from German automaker BMW to develop the designs.

Visas waived for Vietnamese group travelers in South Korea

South Korea has decided to free Vietnamese tourists from visa requirements until late April, on the condition they are traveling in groups, according to the Korea Tourism Organization (KTO) in Vietnam. Groups of at least five travelers are eligible but must buy tours at accredited tourism companies and have round-trip air tickets to and from Yangyang International Airport in the country’s northeast.


SCG keen on PetroVietnam stake in Long Son Petrochemical Complex

Thai industrial conglomerate the Siam Cement Group (SCG) has sent a proposal to the Vietnamese Government to acquire the entire 29 per cent stake the State-run PetroVietnam currently holds in a $5.4-billion petrochemical project in Vietnam that has come to a standstill. SCG now holds a 71 per cent stake in the Long Son Petrochemical Complex in the southern province of Ba Ria Vung Tau, after acquiring the entire 25 per cent holding of Qatar Petroleum International earlier this year for $36 million. If accepted, the Thai company would wholly own the project. It has also asked for preferences to proceed with construction.


Vietnam Footwear Summit set for March

The Vietnam Footwear Summit 2018 will take place at the Saigon Reverie Hotel in Ho Chi Minh City on March 21 and 22, discussing new trends and growth models in the footwear industry. According to the Vietnam Leather, Footwear and Handbag Association (Lefaso), the Summit is expected to help local businesses grasp international footwear development trends and apply new materials and information and technology to slash costs and meet environmental requirements.

Viglacera to reduce State holding

The Viglacera Corporation plans to reduce its State ownership to 36 per cent this year, according to Executive Chairman Mr. Luyen Cong Minh. Viglacera is committed to following directions from the Ministry of Construction and prepare a roadmap to divest State capital and implement investment projects on schedule. It will focus on deploying projects with high efficiency and also concentrate on management activities, organizing quarterly meetings to publish information to shareholders and compile a plan to list on the Ho Chi Minh Stock Exchange by the end of this year.

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