20:12 (GMT +7) - Wednesday 12/12/2018

PRESS WATCH

January 29

Released at: 14:00, 29/01/2018 PRESS WATCH

January 29

VET's round-up of news from Vietnamese media for January 29.


JICA to promote agricultural partnerships

The Japan International Cooperation Agency (JICA) wants to promote agricultural partnerships between Vietnam and Japan, with a focus on private sector investment and food value chains. JICA made the statement at a seminar in Ho Chi Minh City it organized with the Ministry of Agriculture and Rural Development (MARD) and the Vietnam Farmer’s Union (VFU).


Third Co.opXtra hypermarket opens

The joint venture between the country’s leading retailer Saigon Co.op and Singapore’s NTUC FairPrice has opened its third hypermarket in the country, in Ho Chi Minh City’s District 10. The 6,500 sq m Co.opXtra Van Hanh cost nearly VND96 billion ($4.2 million) and stocks more than 50,000 items.

VRG opens Cambodian rubber latex processing plant

The Vietnam Rubber Group (VRG) has opened a rubber latex processing plant in Cambodia. Located in Kampong Thom province, the Chu Se Kampong Thom plant is one of the largest in Southeast Asia. The opening ceremony was attended by Cambodian Deputy Prime Minister Yim Chhay Ly, local authorities, Ambassador of Vietnam to Cambodia, H.E. Vu Quang Minh, and VRG executives, among others.


FLC delays 2016 dividend payment

The FLC Group has announced it will postpone the final dividend payment for 2016, which would have been issued as cash payments or as stocks, due to the recent technical problems on the Ho Chi Minh Stock Exchange (HSX). A technical fault during the January 22 ATC order-matching session put the entire HSX trading platform out of action for 48 hours. This was the first time Vietnam’s stock market had been closed down by technical issues. FLC postponed shareholder registration for the dividend payment to February 8 and announced the ex-rights date and the date of paying the 3 per cent dividends as February 1.

Sugar industry concerned about ATIGA tariff reductions

The reduction of tariffs to zero per cent under the ASEAN Trade in Goods Agreement (ATIGA) from January 1 is particularly important for Vietnam’s sugar industry, as it faces a flood of imported goods. Industry insiders said the industry is expected to perform poorly in the 2018-2019 period, as locally-refined sugar of low competitiveness will have to compete with sugar from Thailand.


Spain to help with HCMC metro project

The Spanish Government has promised to provide financial assistance for Ho Chi Minh City to develop Metro Line No. 5, a meeting between city leaders and Spain’s Ministry of Economy, Industry and Competitiveness (MEIC) heard. The city should develop a comprehensive urban railway system, said Mr. Jose Kaiser Moreiras, General Director for International Trade and Investment at MEIC, underscoring the need to ensure effective connectivity between metro lines in the city. It should give priority to Metro Line No. 5 because it will serve as a transit point for other lines in the city. The two sides will have to work together to revise the project to make it compatible with Vietnam’s Law on Investment, which was amended in early 2015.

Solar power plant for Binh Phuoc

Asia Infonet Inc., a subsidiary of Japan’s AIN Group, intends to build a solar power plant at the Becamex-Binh Phuoc Industrial and Urban Complex in southern Binh Phuoc province. Provincial Party Chief Nguyen Van Loi and People’s Committee Chairman Nguyen Van Tram worked with Asia Infonet Inc. over the project, which will cover 54 ha and have a capacity of 50 MW. The company is capable of developing solar power plants and has invested in multiple projects with a combined capacity of 400 MW.

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