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January 24

Released at: 12:53, 24/01/2018 PRESS WATCH

January 24

VET's round-up of news from Vietnamese media for January 24.

MoU signed on developing co-operatives

The German Co-operative and Raiffeisen Confederation (DGRV) and the Co-operative Development Agency at the Ministry of Planning and Investment have signed a memorandum of understanding (MoU) towards the common goal of the development of the co-operative sector in Vietnam. The MoU includes a number of significant activities, such as exchanging information and expertise, collaboration in joint research, and organizing a training program for officials and co-operative managers.

Dak Nong alumina plant may soon recover investment costs

The Nhan Co alumina plant in the central highlands province of Dak Nong is operating effectively and could recover its initial investment costs by 2019 or 2020, a working session between the investor and a ministerial inspection team heard. Led by Minister of Natural Resources and Environment Tran Hong Ha, the team inspected the facility, developed by the Dak Nong-TKV Aluminum Company, a unit of the Vietnam National Coal and Mineral Industries Group (Vinacomin).

Plastic waste project for Can Tho

The UpCycling Vietnam Co. Ltd, a unit of Dutch firm UpCycling Plastic B.V., has plans to pilot a project to collect and treat waste from rivers in the Mekong Delta’s Can Tho city, a conference in the city heard. Addressing the conference, on how to free rivers from plastic waste and build a park on a river to collect and recycle such waste, Sabine Voermans from the HZ University of Applied Sciences of the Netherlands said UpCycling has surveyed five locations and chosen one, on the Cai Khe Canal in Ninh Kieu district, to develop the project.

Deputy PM at Davos

Deputy Prime Minister Vuong Dinh Hue attended the opening ceremony of the World Economic Forum Annual Meeting 2018 in Davos, Switzerland, on January 23 and addressed a session of the ASEAN Regional Strategy Group. The four-day WEF Davos 2018 will have more than 400 discussions on four key objectives: driving sustained economic progress, navigating a multipolar and multi-conceptual world, overcoming divisions in society, and shaping the agile governance of technology.

Ground broken at Ba Ria Vung Tau dust recycling plant

The Zinc Oxide Corporation Vietnam broke ground on January 23 for the construction of an electric arc furnace dust recycling plant in the southern province of Ba Ria Vung Tau. With total investment of over $120 million, the plant is situated at the Phu My 3 Specialized Industrial Park in Tan Thanh district and will have a capacity of recycling 100,000 tons of electric arc furnace dust per year and is equipped with advanced technologies.

SCG keen on Long Son Petrochemicals Complex

Thailand’s SCG Group wants the entire stake held by PetroVietnam in order to own 100 per cent of the Long Son Petrochemicals Complex in the southern province of Ba Ria Vung Tau, according to a proposal it sent to Prime Minister Nguyen Xuan Phuc. The group has asked to acquire 29 per cent of PetroVietnam’s stake, attached with certain conditions to implement the project.

Prudential offloading Vietnamese consumer finance business

Prudential Plc has agreed to sell its consumer finance business in Vietnam to a unit of South Korea’s Shinhan Financial Group for $151 million, as the UK’s largest insurer seeks to focus on its core insurance arm in the country. The sale attracted many interested buyers, including private equity firms and financial services companies. The sale of Prudential Vietnam Finance, which offers personal and home loans, marks the British insurer’s first major asset divestment since it named its former group CFO, Mr. Nic Nicandrou, as head of its Asia business in July last year.

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