12:04 (GMT +7) - Monday 16/07/2018

PRESS WATCH

January 5

Released at: 12:10, 05/01/2018 PRESS WATCH

January 5

VET's round-up of news from Vietnamese media for January 5.


Southern Food Corporation set for IPO

The Southern Food Corporation (Vinafood 2) will conduct its initial public offering (IPO) at an initial price of VND10,100 ($0.44) per share within the next three months. Deputy Prime Minister Vuong Dinh Hue signed Decision No. 2133/QD-TTg on December 29 approving the equitization plan for Vinafood 2. The company will offer 500 million shares, bringing the offering’s initial value to VND5 trillion ($220 million).

PM calls for punishment of land use violations

Prime Minister Nguyen Xuan Phuc has called for strict punishment of organizations and individuals who commit violations in land use and management. He ordered that those who committed violations in handing over land, leasing land, switching land use purposes, land registration, and granting land certificates must be punished strictly. In particular, tough punishment must be imposed on heads of organizations and units that loosen management on land encroachment, transfer, illegal land use changes, and unauthorized land handovers.


Transport ministry knocks back An Giang airport proposal

The Ministry of Transport has turned down a proposal from the Mekong Delta’s An Giang province to building an airport at an estimated cost of VND3.4 trillion ($150 million), which would be only 60 km from Can Tho International Airport. Deputy Minister of Transport Le Dinh Tho said the Civil Aviation Authority of Vietnam had already amended a master plan for air transport development until 2020 with a vision to 2030.

Resolution issued on removing business conditions

The government has issued Resolution No. 01 asking ministries and agencies to halve existing business conditions to improve the business environment. At a meeting between the government and local authorities last week, Prime Minister Nguyen Xuan Phuc hailed the Ministries of Industry and Trade, Agriculture and Rural Development, and Construction for removing between one-third and one-half of their business conditions, though many complex procedures remain. Minister of Justice Le Thanh Long said there are 243 fields still bound by 4,284 business and investment conditions.


Vietnam Airlines to introduce direct US flights

National flag carrier Vietnam Airlines will launch the first direct route between Vietnam and the US in 2018, with the destination being either San Francisco or Los Angeles. The plan is part of the national scheme on developing direct flights between Vietnam and key markets, including the US, China, Russia, South Korea, Japan, Thailand, Malaysia, Germany, Australia, France, the UK, and India.

Thai Binh Economic Zone given green light

The Thai Binh Provincial People’s Committee has announced a decision from the Prime Minister on the establishment of the Thai Binh Economic Zone. The Zone covers an area of 31,000 ha straddling 30 communes and one town in the districts of Thai Thuy and Tien Hai. It is one of 17 economic zones in the country and will function as both an industrial cluster and a coastal service-trade-urban area. Investors in the zone will receive incentives in line with government policy.


Vietship 2018 on horizon

The International Exhibition on Shipbuilding, Shipping and Offshore Technology (Vietship 2018) will return for its ninth edition at the National Convention Center in Hanoi from January 24 to 26. This year, the exhibition, the country’s largest of its kind, will have 163 booths of 97 exhibitors from 13 countries, including 59 from Vietnam. It will be held by the Shipbuilding Industry Corporation (SBIC) to provide buyers and sellers / manufacturers with one-on-one meetings to gain a better understanding of each other’s capabilities and seek future business.

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