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March 2

Released at: 12:16, 02/03/2018 PRESS WATCH

March 2

VET's round-up of news from Vietnamese media for March 2.

Indonesian coffee companies looking at Vietnam

Director of the Indonesian company PT. Asia Mina Sejahtera, Mr. Pranoto Soenarto, flew from Jakarta to Hanoi in early February with only one goal in mind: seeking Vietnamese partners to cooperate in potential coffee projects focused on imports and expanding marketing networks. “We’re expanding production and we need to seek more suppliers of input materials. Vietnam is our best market,” Mr. Soenarto said. PT. Asia Mina Sejahtera is one of 16 Indonesian coffee companies that came to Vietnam for the first time in early February to look for Vietnamese partners to import Vietnamese coffee and forge partnerships. They include big names such as Harro Coffee Group, PT Sabani Internasional, Gabungan Perusahaan Petani Indonesia, and PT Pamora Coffee Indonesia.

PV Oil to list on UPCoM on March 7

The PetroVietnam Oil Corporation (PV Oil), Vietnam’s second-largest petrol distributor, will list 200 million shares on the Unlisted Public Company Market (UPCoM) on March 7. Its shares have a reference price of VND20,200 ($0.89), according to information published by the Hanoi Stock Exchange.

SCIC announces reserve price in Binh Minh Plastic offering

The State Capital Investment Corporation (SCIC) has announced that the reserve price of its Binh Minh Plastics JSC (BM PLASCO) shares, which it will sell in a competitive offering, is VND96,500 ($4.24) per share. The SCIC will offer nearly 24.16 million shares, equal to 29.51 per cent of charter capital, at the competitive offering on the Ho Chi Minh Stock Exchange on March 9. The minimum number of shares bid by one investor is 20,000 and the maximum is the total volume offered.

Furniture and home accessories fair set for March 7-10 in HCMC

The 11th Vietnam International Furniture and Home Accessories Fair (VIFA-EXPO 2018) will be held from March 7 to 10 and feature nearly 1,980 booths from 450 enterprises; the largest in its eleven years.  Jointly held by the Ho Chi Minh City Department of Industry and Trade, the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), and the HAWA Corporation, VIFA-EXPO is the largest such event in the country and will take place at the Saigon Exhibition and Convention Center (SECC) at 799 Nguyen Van Linh Parkway, District 7, Ho Chi Minh City.

GMS and CLV Summits upcoming in Hanoi

Vietnam will host the 6th Greater Mekong Sub-Region (GMS) Summit and the 10th Cambodia-Laos-Vietnam (CLV) Development Triangle Area Summit in Hanoi from March 29-31. It will also host the first GMS Business Summit, to boost the engagement of businesses and development partners in the sub-region’s development process.

Foreign investment in finance, banking and insurance at $1.5 trillion

Foreign investors had poured nearly $1.5 trillion into Vietnam’s finance, banking and insurance sectors as at the end of January, according to figures from the Foreign Investment Agency at the Ministry of Planning and Investment. Foreign investment in the sector is forecast to increase in the future as financial technology (fintech) companies attract greater interest from foreign investors.

High-tech organic farming model for Hai Phong

The Thuan Loi Limited Company has launched a high-tech organic rice farming model in Hai Phong city’s Kien Thuy district, the first of its kind in the northern city. Head of the company Nguyen Dinh Thuan said preparations for the project have been carried out since June 2016, with four high-quality rice varieties selected to be cultivated on 32.3 ha. The company has built a production site with facilities for general management as well as rice processing and storage.

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